Murphy USA

What Murphy USA does

Murphy USA (NYSE: MUSA) is the fourth-largest convenience store operator in the United States, operating more than 1,700 retail locations across 27 states under three formats: Murphy USA stores (predominantly co-located with Walmart parking lots), Murphy Express (standalone convenience stores with larger footprints), and QuickChek (a fresh-food convenience format acquired in January 2021 for approximately $645 million and headquartered in Whitehouse Station, NJ). The company serves roughly 1.7 million customers daily and employs approximately 16,900 people across both Murphy USA and QuickChek brands. Murphy USA was founded in 1996 as a fuel retailing subsidiary of Murphy Oil Corporation, was spun off as an independent public company in 2013, and is headquartered in El Dorado, Arkansas.

The company's core offering is a fuel-plus-merchandise retail platform. Fuel products span E-10 (at all locations), E-15 and FlexFuel/E85 at select sites, ethanol-free E0 for small engines, ultra-low-sulfur diesel, biodiesel, and winterized diesel, supported by the FuelAssure quality assurance program featuring 24-hour monitoring and EPA-approved filtration. The principal customer-facing digital product is the Murphy Drive Rewards mobile application (available on iOS and Android), which enables loyalty point earning on fuel and merchandise purchases, redemption of points for up to $1 off per gallon (up to 25 gallons), and access to "Drive Deals" on snacks and drinks. Ancillary products include a Business Fuel Card program for fleet operators and a Real Estate Services offering for store development. Technology integrations are predominantly commodity: Apple Pay, Google Pay, Facebook and Google social login, Google Maps for store locator, and Google Analytics for site/app telemetry.

Murphy USA generates revenue primarily through retail gasoline and diesel fuel sales and convenience store merchandise sales — both transactional in nature. In Q1 2026, fuel contribution reached $403.9 million at 35.0 cents per gallon and merchandise contribution reached $210.2 million (up 7.3% year-over-year), producing $4.82 billion in quarterly revenue and $136.3 million in net income. The company's go-to-market is direct-to-consumer through physical storefronts, with marketing conducted via social media, the loyalty app, email, and community partnerships (e.g., Boys & Girls Clubs of America). Payment partnerships with Payactiv, Walmart+, Netspend, Serve, and Scorecard stack discounts up to $1.50 per gallon and serve as a customer acquisition and retention layer.

Name

Murphy USA

Legal name

Murphy Oil USA, Inc.

Website

https://murphyusa.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Murphy USA (NYSE: MUSA) operates more than 1,700 convenience stores and fuel stations across 27 states under the Murphy USA, Murphy Express, and QuickChek brands, serving approximately 1.7 million value-conscious consumers daily with gasoline, convenience merchandise, and the Murphy Drive Rewards loyalty program.

Ownership category

akta.pro rank

Product category

Convenience Store and Fuel Retail

NAICS

Gasoline Stations with Convenience Stores (45711), Convenience Retailers (445131)

SIC

Retail-Auto Dealers & Gasoline Stations (5500), Retail-Convenience Stores (5412)

akta.pro primary industry

Fuel Stations with Convenience Retail (Forecourt C-Stores) (CRANAJAB)

akta.pro secondary industry

Traditional Convenience Stores (Alcohol/Tobacco-led) (CRANAJAA)

Keywords

• Retail fuel stations
• Convenience store retail
• Gasoline retail
• Loyalty rewards program
• Fleet fuel cards

Headquarters

HQ city

El Dorado

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Fuel Sales: Primary revenue driver from retail gasoline and diesel fuel sales. Total fuel contribution was $403.9 million in Q1 2026, with fuel contribution margins of 35.0 cents per gallon. The company operates over 1,700 stores selling various fuel types including E-10, E-15, FlexFuel, E0, ULSD, and biodiesel.
2. Merchandise Sales: Convenience store merchandise including snacks, drinks, tobacco/nicotine products, and convenience items. Merchandise contribution was $210.2 million in Q1 2026, up 7.3% year-over-year.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Murphy USA operates over 1,700 retail gasoline stations and convenience stores across 27 states under three brands: Murphy USA (typically co-located with Walmart), Murphy Express (standalone larger-format convenience stores), and QuickChek (fresh-food convenience stores in the Northeast). The company sells gasoline (E-10, E-15, FlexFuel/E85, ethanol-free E0, ULSD, biodiesel, winterized diesel) and convenience merchandise (snacks, drinks, tobacco/nicotine products), and supports purchases with the Murphy Drive Rewards loyalty program offering up to $1 off per gallon in fuel discounts.

Product overview

Murphy USA operates a unified fuel and convenience retail platform centered on three distinct store formats—Murphy USA (Walmart-adjacent locations), Murphy Express (standalone convenience stores), and QuickChek (fresh convenience sub-brand acquired in 2021)—serving approximately 1.7 million daily customers across more than 1,700 locations in 27 states. The core customer-facing digital product is the Murphy Drive Rewards mobile application, which powers the loyalty program with point earning on fuel and merchandise, Drive Deals redemption, and fuel discount redemptions up to $1 per gallon. Physical fuel offerings include a full portfolio of ethanol blends (E-10, E-15, FlexFuel/E85, ethanol-free E0) and diesel variants (ULSD, biodiesel, winterized), supported by the FuelAssure quality assurance program. Ancillary services include a Business Fuel Card program for fleet operators, Real Estate Services for expansion, and payment integrations with Apple Pay, Google Pay, Walmart+, Payactiv, and various prepaid card programs.

Differentiator

Problem solved

Functional benefit

Brands

• Murphy Drive Rewards: Customer loyalty program offering fuel discounts up to $1 off per gallon and deals on snacks and drinks
• FuelAssure

Products and services

• Murphy USA retail stores Primary brand of retail gasoline stations, typically positioned adjacent to Walmart parking lots, offering quality fuels at competitive prices, convenience store merchandise, and the Murphy Drive Rewards loyalty program to consumers across 27 states.
• Murphy Express retail stores Stand-alone convenience store format with typically larger footprint than Murphy USA locations, offering coffee, fountain and frozen drinks, free ATMs, and multiple fuel dispensing positions for quick fuel stops.
• QuickChek retail stores Fresh convenience concept acquired in January 2021, headquartered in Whitehouse Station, NJ, providing made-to-order subs and sandwiches, guaranteed fresh coffee, and recognized as a top employer in New York and New Jersey.
• Murphy Drive Rewards loyalty program Mobile application-based loyalty program allowing members to earn points on fuel and merchandise purchases (1 point per gallon of gas, 2 points per dollar on merchandise), access Drive Deals on snacks, drinks, and fuel, and redeem points for up to $1 off per gallon at the pump for up to 25 gallons.
• Business Fuel Card Fleet fuel discount program offering options for businesses to manage fuel expenses with discounted rates at Murphy USA and Murphy Express stations.
• Real Estate Services Commercial real estate listings, property inquiries, and store development services for potential new Murphy USA, Murphy Express, and QuickChek locations across the United States.

Quantifiable outcome

• Q1 2026 EPS of $7.28 nearly doubled year-over-year from $3.66 forecast
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature2 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Boys & Girls Clubs of AmericacoreStrategic or Co-development PartnerNational partnership supporting clubs in areas where Murphy USA operates through the 'Great Futures Fueled Here' campaign. Focus on academic success, good character, citizenship, and healthy lifestyles for youth.
• WalmartcoreStrategic or Co-development PartnerStrategic relationship where Murphy USA stores are primarily located adjacent to Walmart parking lots. Walmart+ members can save 10¢ per gallon at Murphy USA and Murphy Express locations.
• R.J. Reynolds Tobacco Co. (RJR)minorChannel Partner/ Reseller/ DistributorCollaboration for VELO Plus nicotine pouch launch at Murphy USA stores. VELO Plus became the top-selling nicotine pouch brand at Murphy USA by 2025.
• Core-Mark InternationalminorChannel Partner/ Reseller/ DistributorDistribution partner for VELO Plus nicotine pouches at Murphy USA locations.
• PayactivminorGTM or Marketing PartnerPayment partnership offering 10¢ per gallon fuel discount with Payactiv cards. Discounts can stack with other offers up to $1.10.
• NetspendminorGTM or Marketing PartnerPrepaid card partnership offering 10¢ per gallon fuel discount at Murphy USA.
• Serve (by American Express)minorGTM or Marketing PartnerPrepaid card partnership offering 5¢ per gallon fuel discount. Discounts can stack up to $1.05.
• Scorecard RewardsminorGTM or Marketing PartnerLoyalty rewards partnership offering 50¢ per gallon with 2000 points. Discounts can stack up to $1.50.
• Stinker StoresminorChannel Partner/ Reseller/ DistributorAcquired four stores in the Denver market from Stinker Stores in 2025 to add density in target markets.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• RaceTrac: RaceTrac is a privately held U.S. convenience-store and fuel retailer operating ~800 stores across the South and Midwest. It is a direct peer given similar fuel-led value proposition and comparable store-size format to Murphy Express and Murphy USA.
• Casey's General Stores: Casey's is a U.S. convenience-store and fuel retailer operating ~2,900 stores across 17 Midwest and Southern states. It is the closest direct peer to Murphy USA given the overlapping fuel-and-merchandise model, comparable store footprint strategy, and similar focus on value-conscious consumers.
• Sunoco LP: Sunoco LP is a master limited partnership focused on fuel distribution and ~200 company-operated retail sites in the U.S. It overlaps with Murphy USA in retail fuel marketing and partnerships with grocery anchors, making it a comparable peer on the fuel side of the business.
• Sheetz: Sheetz is a privately held, family-owned convenience-store and fuel chain with ~700 stores across the Mid-Atlantic and Midwest. It is directly comparable on the made-to-order food and fuel-discount proposition and overlaps with QuickChek's fresh-food positioning.
• Wawa: Wawa is a privately held c-store and fuel operator with ~1,100 stores across the Mid-Atlantic and Southeast, known for fresh food and coffee. It is comparable to Murphy USA's QuickChek banner and competes for similar value-and-quality-conscious customers in overlapping geographies.
• ARKO Corp: ARKO operates ~1,400 convenience stores and ~1,300 fuel stations across the U.S. under the GPM Investments and EQC brands. It is a direct peer to Murphy USA given comparable fuel-and-merchandise mix, similar size, and focus on value-priced c-store retail.

Broad incumbents

• 7-Eleven (Seven & i Holdings): 7-Eleven operates ~13,000 U.S. c-stores and is the largest domestic chain, following its acquisition of Speedway. It competes head-to-head with Murphy USA in fuel and convenience, but as part of a much larger global retail platform.
• Alimentation Couche-Tard (Circle K): Couche-Tard is the largest independent c-store operator globally with ~16,700 stores including the Circle K banner across the U.S. and Canada. It is a broad incumbent peer — same fuel/convenience category but a much larger and geographically diversified portfolio than Murphy USA.
• BP America (TravelCenters / ampm): BP's U.S. downstream business operates branded fuel stations and ampm convenience stores across the country. As an integrated oil major, BP competes with Murphy USA in retail fuel and convenience but at much greater scale and through a different wholesale-driven go-to-market model.

Regional players

• Parkland Corporation: Parkland is a Canadian fuel and convenience retailer operating ~4,000 sites across Canada, the U.S., the Caribbean, and Latin America under brands including On the Run and Chevron. It is a regional peer: same fuel-retail category but primary footprint outside Murphy USA's U.S. base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/murphyusa
• Facebookfacebook.com/MurphyUSA
• LinkedInlinkedin.com/company/murphy-usa

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Murphy USA