MPLX vs XOM: Which Is the Better Dividend Stock?
As of September 2026, MPLX and XOM are closely matched. MPLX offers the higher yield at 7.20%, XOM has the higher dividend-safety score, and MPLX trades at the larger discount to fair value (+73%).
| Metric | MPLX | XOM |
|---|---|---|
| Forward yield | 7.20% | 2.56% |
| Annual dividend | $4.31 | $4.12 |
| Payout ratio | 90% | 53% |
| Years of growth | 4 yr | 24 yr |
| 5-yr dividend growth | 7.5% | 2.8% |
| 5-yr total return | 110% | 171% |
| Dividend safety score | 80 (A) | 92 (A) |
| Fair value estimate | $102.95 | $89.06 |
| Upside to fair value | +73% | -44% |
| Frequency | quarterly | quarterly |
| Market cap | $61.1B | $675.3B |
| P/E ratio | 12.9 | 20.7 |
Higher yield
MPLX
7.20%
Safer dividend
XOM
Grade A
Faster growth
MPLX
7.5%
Better value
MPLX
+73% upside
MPLX vs XOM — FAQ
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