Murphy USA Inc. (MUSA)

Retail-Auto Dealers & Gasoline Stations

Latest Price

$504.03

TTM P/E

15.54

Normalized P/E

19.36

Div Yield

0.48%

Book Value

42.58

P/B Ratio

11.84

Valuation metrics

EPS: $24.10

Book value / share: $31.93

Formula: √(22.5 × EPS × BVPS)

Graham Number

$131.59

74% downside

Norm. op. income: $719M (median of 7yr)

Tax rate: 24%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$170.84

66% downside

Base FCF: $448M (median of recent 5yr)

Growth: 11%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$481.86

4% downside

EPS: $24.10

Target P/E: 19×

Formula: EPS × P/E

P/E Fair Value

$457.90

9% downside

81.9% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	1.70M	$915.0M	9.22%	+18.7K	2026-06-30
Vanguard Portfolio Management LLC	776.2K	$418.0M	4.21%	+47.7K	2026-06-30
Vanguard Capital Management LLC	752.8K	$405.0M	4.08%	+2.0K	2026-06-30
FMR LLC	707.7K	$381.0M	3.84%	-758.1K	2026-06-30
Boston Partners	561.2K	$303.0M	3.04%	+24.3K	2026-06-30
State Street Corp	557.9K	$300.0M	3.03%	+1.2K	2026-06-30
Geode Capital Management, LLC	480.8K	$259.0M	2.61%	+104.8K	2026-06-30
Huntington National Bank	414.7K	$223.0M	2.25%	+1	2026-06-30
Renaissance Technologies LLC	340.2K	$183.0M	1.85%	+108.3K	2026-06-30
AQR Capital Management LLC	304.1K	$161.0M	1.65%	-11.9K	2026-06-30