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Exxon Mobil (XOM) USD

ExxonMobil explores for and produces crude oil and natural gas, and manufactures and sells petroleum products, petrochemicals, and specialty products. It also pursues lower-emission business opportunities such as carbon capture and storage, hydrogen, and lithium.

At a glance: strengths & risks
✓Revenue growing (+42% y/y, Q2 2026)✓Profit growing (+105% y/y, Q2 2026)✓Margins improving (21%→24%, Q2 2026)✓Low leverage (0.6x EBITDA)✓Commodity price +48% vs 1-yr · +6% vs 3-yr✗Only 11 years of reserves✗Priced above model value✗Pricier than own history (EV/EBITDA 10.5 vs avg 6.8)

Sector: Oil & gas

Geography: United States, Guyana, Canada, Australia

COMM_XOM

Price chart

178.23 USDDay 0.08%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
178.23 USD · 0.08%
Market cap
744.8 bn USD

Growth

Δ revenue y/y
42.3%
Δ EBITDA y/y
60.0%

Multiples

P/E (LTM)
22.7x
3y avg: 14.1x
P/B (FY)
2.9x
P/E (ann.)
12.8x
EV/EBITDA (LTM)
10.5x
3y avg: 6.8x
EV/EBITDA (ann.)
7.2x

Cash return

Dividend yield
2.3%
FCF yield (LTM)
4.2%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-36.4%
↓ details

Liquidity

Daily turnover (listing)
2.1 bln USD

Shares: yahoo_fundamentals_timeseries/XOM

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK116.0
y/y 42.3%
18.2
y/y 70.0%
8.7
y/y 42.4%
26.9
y/y 60.0%
14.5
y/y 105.1%
23.6-6.5464.5
y/y 3.8%
259.4
y/y -1.2%
22.6%31.8Link
2026-03-31Q1 2026 (3M)OK85.1
y/y 2.4%
7.0
y/y -39.9%
6.8
y/y 18.7%
13.7
y/y -20.6%
4.2
y/y -45.8%
8.7-6.5464.4
y/y 2.8%
254.4
y/y -3.2%
6.5%39.2Link
2025-12-31Q4 2025 (3M)OK82.3
y/y -1.3%
8.0
y/y -18.2%
7.7
y/y 17.2%
15.7
y/y -4.0%
6.5
y/y -14.6%
12.7-7.5449.0
y/y -1.0%
259.4
y/y -1.6%
11.1%39.7Link
2025-09-30Q3 2025 (3M)OK85.3
y/y -5.2%
10.9
y/y -16.1%
6.5
y/y 3.5%
17.4
y/y -9.7%
7.5
y/y -12.3%
14.8-8.7454.3
y/y -1.6%
260.6
y/y -3.0%
3.8%28.2Link
2025-06-30Q2 2025 (3M)OK81.5
y/y -12.4%
10.7
y/y -21.7%
6.1
y/y 5.4%
16.8
y/y -13.6%
7.1
y/y -23.4%
11.6-6.3447.6
y/y -2.8%
262.6
y/y -2.2%
10.8%24.6Link
2025-03-31Q1 2025 (3M)OK83.1
y/y 0.1%
11.6
y/y -6.2%
5.7
y/y 18.5%
17.3
y/y 0.7%
7.7
y/y -6.2%
13.0-5.9451.9
y/y 19.6%
262.7
y/y 28.0%
11.7%20.5Link
2024-12-31Q4 2024 (3M)OK83.4
y/y -1.1%
9.8
y/y -7.6%
6.6
y/y -14.9%
16.4
y/y -10.7%
7.6
y/y -0.3%
12.2-6.8453.5
y/y 20.5%
263.7
y/y 28.8%
12.7%25.2Link
2024-09-30Q3 2024 (3M)OK90.0
y/y -0.8%
13.0
y/y -4.9%
6.3
y/y 41.7%
19.3
y/y 6.5%
8.6
y/y -5.1%
17.6-6.2461.9
y/y 24.1%
268.6
y/y 34.5%
4.3%15.6Link
2024-06-30Q2 2024 (3M)OK93.1
y/y 12.2%
13.7
y/y 17.2%
5.8
y/y 36.4%
19.5
y/y 22.4%
9.2
y/y 17.3%
10.6-6.2460.7
y/y 26.8%
268.4
y/y 34.8%
15.6%16.7Link
2024-03-31Q1 2024 (3M)OK83.1
y/y -4.0%
12.4
y/y -26.4%
4.8
y/y 13.4%
17.2
y/y -18.4%
8.2
y/y -28.1%
14.7-5.1377.9
y/y 2.3%
205.2
y/y 3.3%
16.0%7.1Link
2023-12-31Q4 2023 (3M)OK84.3
y/y —
10.6
y/y —
7.7
y/y —
18.4
y/y —
7.6
y/y —
13.7-6.2376.3
y/y —
204.8
y/y —
17.8%16.0Link
2023-09-30Q3 2023 (3M)OK90.8
y/y —
13.7
y/y —
4.4
y/y —
18.1
y/y —
9.1
y/y —
16.0-4.9372.3
y/y —
199.7
y/y —
6.1%8.3Link
2023-06-30Q2 2023 (3M)OK82.9
y/y —
11.7
y/y —
4.2
y/y —
15.9
y/y —
7.9
y/y —
9.4-5.4363.2
y/y —
199.0
y/y —
15.8%12.0Link
2023-03-31Q1 2023 (3M)OK86.6
y/y —
16.8
y/y —
4.2
y/y —
21.0
y/y —
11.4
y/y —
16.3-5.4369.4
y/y —
198.7
y/y —
—8.8Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)10 139
Long-term debt (incl. LT leases)32 229
− Cash & equivalents10 588
Net debt31 780

Net debt / LTM EBITDA: 0.4x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

025 00050 00075 000100 000125 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-25%0%25%50%75%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

05 00010 00015 00020 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

010 00020 00030 00040 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.63x of reported net profit; after capex, 0.93x.
year20212022202320242025
cash flow / profit2.09x1.38x1.54x1.63x1.80x
accruals, % of assets-7.4%-5.7%-5.1%-4.7%-5.1%
Last twelve months (to 2026-06-30): 1.82x of profit came back as operating cash flow.
net debt / EBITDA 0.6x · capex 0.9x of depreciation · dividends 43% of free cash flow
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas Integrated

Proved reserves
19 311 mln boe
2025
Reserve life (R/P)
11.2 yrs
reserves ÷ annual output
Annual production
1 729 mln boe
2025

Production, mln boe

1 37320211 37820221 36420231 58220241 7292025

Proved reserves

YearReserves, mln boe
202519 311
202419 949
202316 928
202217 742
202118 536
202018 596
201922 445
201824 293

Production

YearProduction, mln boeper day, mln boe
20251 729
+9.3%		4.74
20241 582
+15.9%		4.33
20231 364
−1.0%		3.74
20221 378
+0.4%		3.78
20211 3733.76
20209 000 * (3M)98.6

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Brent

Current 113spot vs LTM +37%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -36.4% ▲ +1.1 pp 1d

Main driver: Brent +48% vs LTM; revenue ×1.10 vs costs ×1.04; EBITDA 73 125→80 605; at 7.9× EV/EBITDA → -36%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Brent (rev)+17%112.9376.5181.15+48%+6%
Henry Hub Gas (rev)+3%2.783.383.12-18%-8%
US Crack Spread (oil refining) (rev)+3%58.3133.3431.99+75%-4%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue366 488
LTM EBITDA73 125
LTM cash costs (revenue − EBITDA)293 363
2 · Revenue projection
Revenue multiplier — spot×1.098 (+10%)
= Spot revenue402 431
Revenue multiplier — 3y price×1.007 (+1%)
= 3-year-price revenue368 975
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs305 098
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs305 098
4 · EBITDA projection (revenue − costs)
= Spot EBITDA97 333
= 3-year-price EBITDA63 877
Conservative EBITDA = min(spot, avg)80 605
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)7.9x
Target EV = EV/EBITDA × conservative EBITDA636 781
Net debt31 924
Target market cap = EV − net debt600 619
Current market cap732 866

Upside = target market cap ÷ current − 1 = -36.4%

Life of mine: 13 yrs — before haircut -18.0%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q390 76092 786-2.2%18 11419 732-8.2%
2023 Q481 68887 424-6.6%15 98116 513-3.2%
2024 Q183 08384 474-1.6%17 18115 053+14.1%
2024 Q293 06084 660+9.9%19 45215 141+28.5%
2024 Q390 01685 283+5.6%19 28414 074+37.0%
2024 Q481 05885 343-5.0%14 32714 625-2.0%
2025 Q183 13087 245-4.7%17 30216 271+6.3%
2025 Q281 50685 826-5.0%16 80614 872+13.0%
2025 Q385 29483 376+2.3%17 40714 697+18.4%
2025 Q480 03982 033-2.4%13 64014 083-3.1%
2026 Q185 13885 028+0.1%13 73817 170-20.0%
2026 Q2116 01790 443+28.3%28 34021 157+33.9%

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

Prod. CAGR (2 yr): +12.6%

47364486423739883738202320242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves CAGR (2 yr): +6.8% · Reserves life (R/P): 11.2 yr

1994919194184381768316928202320242025Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2025-12-314,73619,311——
2024-12-314,33319,949——
2023-12-313,73816,928——

2025-12-31 · FY

Production & proved reserves

FY2025 worldwide oil-equivalent net production and year-end total proved reserves. R/P 11.2 yr.

Line itemAmount
Crude oil equivalent (net, Mboe/d)4,736
Proved reserves (net, MMboe)19,311

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

FY2024 worldwide oil-equivalent net production and year-end total proved reserves. R/P 12.6 yr.

Line itemAmount
Crude oil equivalent (net, Mboe/d)4,333
Proved reserves (net, MMboe)19,949

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

FY2023 worldwide oil-equivalent net production and year-end total proved reserves. R/P 12.4 yr.

Line itemAmount
Crude oil equivalent (net, Mboe/d)3,738
Proved reserves (net, MMboe)16,928

Primary SEC filing for this FY (HTML)

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -5% vs +1% the year before — a -6.4 pp move. 3-year CAGR -7%.
revenue growth by year: 2023 -17% · 2024 +1% · 2025 -5%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 9.2x · target 75th pct (3y) 7.9x · LTM avg 8.7x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: Oil & gas. Each peer is shown as it trades and re-priced onto this company's market (global) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
Aker BPglobal26.03.2x3.2x
Occidental Petroleumglobal61.85.1x5.1x
LukoilRussia43.62.5x5.2x
GazpromRussia32.02.9x5.9x
TatneftRussia17.62.9x6.0x
RosneftRussia49.63.3x6.9x
ConocoPhillipsglobal182.47.4x7.4x
Gazprom NeftRussia33.04.2x8.7x
Chevronglobal420.88.7x8.7x
SantosAustralia20.99.6x9.1x
Whitecap Resourcesglobal17.49.1x9.1x
NovatekRussia42.68.5x17.7x
Group median4.7x7.1x
Group average5.6x7.8x
This companyglobal744.210.5x10.5x

Group median 4.7x as traded, 7.1x adjusted; this company 10.5x — a 48% premium.

Group average 5.6x as traded, 7.8x adjusted; against the average this company is at a 36% premium.

At the adjusted group median the market cap would be -34% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.9x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.8x, Indonesia 5.1x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-22; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-171.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2026-05-151.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2026-02-121.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2025-11-141.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2025-08-150.99 USDEx-dividend: 0.99 USD per sharePaidYahoo Finance (ex-div)
2025-05-150.99 USDEx-dividend: 0.99 USD per sharePaidYahoo Finance (ex-div)
2025-02-120.99 USDEx-dividend: 0.99 USD per sharePaidYahoo Finance (ex-div)
2024-11-140.99 USDEx-dividend: 0.99 USD per sharePaidYahoo Finance (ex-div)
2024-08-150.95 USDEx-dividend: 0.95 USD per sharePaidYahoo Finance (ex-div)
2024-05-140.95 USDEx-dividend: 0.95 USD per sharePaidYahoo Finance (ex-div)
2024-02-130.95 USDEx-dividend: 0.95 USD per sharePaidYahoo Finance (ex-div)
2023-11-140.95 USDEx-dividend: 0.95 USD per sharePaidYahoo Finance (ex-div)
2023-08-150.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2023-05-150.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2023-02-130.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2022-11-140.91 USDEx-dividend: 0.91 USD per sharePaidYahoo Finance (ex-div)
2022-08-110.88 USDEx-dividend: 0.88 USD per sharePaidYahoo Finance (ex-div)
2022-05-120.88 USDEx-dividend: 0.88 USD per sharePaidYahoo Finance (ex-div)
2022-02-090.88 USDEx-dividend: 0.88 USD per sharePaidYahoo Finance (ex-div)
2021-11-100.88 USDEx-dividend: 0.88 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Exxon Mobil (XOM) — from primary filings.

Frequently asked questions

What is Exxon Mobil (XOM)'s P/E ratio?
Exxon Mobil (XOM) trades at a P/E of 22.7x (price to trailing 12-month earnings).
What is Exxon Mobil (XOM)'s EV/EBITDA?
Exxon Mobil (XOM) trades at 10.5x EV/EBITDA.
What is Exxon Mobil (XOM)'s P/B ratio?
Exxon Mobil (XOM) trades at a P/B of 2.9x.
What is Exxon Mobil (XOM)'s dividend yield?
Exxon Mobil (XOM)'s trailing 12-month dividend yield is 2.3%.
What is Exxon Mobil (XOM)'s return on equity (ROE)?
Exxon Mobil (XOM)'s ROE is 22.6%.
What is Exxon Mobil (XOM)'s market capitalization?
Exxon Mobil (XOM)'s market cap is 744.8 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map