Mplx LP reported $5.40B of remaining performance obligations at 30 Sep 2026, down 16% from a year earlier and up 6% from the previous quarter. That is 0.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.08.
Net new backlog added in the latest quarter: $300M.
Over the last twelve months it turned about 236% of its opening backlog into revenue (12-month conversion).
Customer prepayments (contract liabilities) cover 4.4% of the backlog.
Twelve-month book-to-bill: 0.92, i.e. 0.92 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -19 points — revenue is catching up with orders.
By backlog size it ranks 109th among US filers the cockpit tracks.
Mplx LP backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$5.40B
$13.2B
0.4 yrs
$239M
30 Jun 2026
$5.10B
$13.2B
0.4 yrs
$242M
31 Mar 2026
$5.30B
$12.9B
0.4 yrs
$231M
31 Dec 2025
$5.80B
$13.0B
0.4 yrs
$241M
30 Sep 2025
$6.40B
$12.8B
0.5 yrs
$467M
30 Jun 2025
$6.40B
$12.2B
0.5 yrs
$477M
31 Mar 2025
$6.80B
$12.2B
0.6 yrs
$497M
31 Dec 2024
$7.40B
$11.9B
0.6 yrs
$514M
30 Sep 2024
$7.80B
$11.8B
0.7 yrs
$491M
30 Jun 2024
$8.00B
$11.8B
0.7 yrs
$505M
31 Mar 2024
$8.10B
$11.4B
0.7 yrs
$495M
31 Dec 2023
$8.50B
$11.3B
0.8 yrs
$479M
Questions
What is Mplx LP's backlog?
Mplx LP reported $5.40B of remaining performance obligations at 30 Sep 2026, down 16% from a year earlier and up 6% from the previous quarter. That is 0.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.08.
How fast does Mplx LP's backlog turn into revenue?
Over the last twelve months Mplx LP recognised revenue equal to about 236% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.