Forensic Analysis · Retail / Consumer Discretionary · as of Nov 9, 2026

Murphy USA Inc. (MUSA)

A forensic read on Murphy USA Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

3.8

Distress distance

Clean

Earnings quality

Forensic signals

64.3%

ROE

-4.2%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Murphy USA Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.8, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

185% of FCF

FY2025

Shareholder returns. Returned $691M to shareholders (buybacks + dividends) in FY2025 — 185% of free cash flow, but 85% of operating cash flow. Returns run ahead of free cash flow, with the gap funded by debt or cash reserves rather than the cash the business itself throws off; the payout itself is still covered by operating cash. Counting the $29M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 192%.

Key fundamentals

Latest Revenue$19.38B

Revenue Growth YoY-4.2%

Revenue CAGR (2yr)-5.1%

Net Margin2.4%

Free Cash Flow$374.3M

Return on Equity64.3%

Debt / Equity3.50x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.