ExxonMobil
XOM NYSE Integrated Oil & Gas Financials FY2016–FY2025
ExxonMobil's revenue fell 5.0% to $332.2 billion in fiscal 2025. Its net margin was 8.7%, down from 9.6% a year earlier. Free cash flow was $23.6 billion, down 23.1%. It paid out $37.5 billion in dividends and buybacks, 159% of free cash flow. The diluted share count rose 0.2%.
About these figures. Exxon Mobil moved under a new holding company, ExxonMobil Holdings Corp, on July 1, 2026. Annual figures come from Exxon Mobil Corporation's 10-K filings until the holding company files its first 10-K.
What ExxonMobil does
ExxonMobil explores for and produces crude oil and natural gas. It also makes, trades, transports and sells crude oil, natural gas, petroleum products, petrochemicals and specialty products. Its divisions and affiliates, which go by names including Exxon, Esso, Mobil and XTO, operate or market products in the United States and most other countries. It is also pursuing lower-emission businesses, such as carbon capture and storage, hydrogen and ammonia, lower-emission fuels, carbon materials, low-carbon data centers and lithium.
ExxonMobil reports four segments. Upstream explores for and produces oil and gas. Energy Products, Chemical Products and Specialty Products, together called Product Solutions, make and sell petroleum products and petrochemicals. Its Low Carbon Solutions business sits in Corporate and Financing until it has a material level of assets and revenue. Its earnings can be significantly affected by oil, gas and petrochemical prices and by refining margins. ExxonMobil says its industries are highly competitive, and that it competes with state-owned companies as well as private firms.
The company was incorporated in New Jersey in 1882. It had 58 thousand regular employees at the end of 2025; over 59 percent of its global employees are from outside the U.S. It held over 8 thousand active patents at the end of 2025. Its acquisition of Pioneer closed on May 3, 2024. ExxonMobil says record production in the Permian and Guyana raised its Upstream earnings in 2025.
- Legal name
- Exxon Mobil Corporation
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 18, 2026
- Accession · CIK
- 0000034088-26-000045
0000034088
Revenue and margins
ExxonMobil had $332.2B of revenue in fiscal 2025, down 5.0% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 15.2% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $23.6B in fiscal 2025, 7.1% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
ExxonMobil returned $37.5B to shareholders in fiscal 2025, 159% of free cash flow. The diluted share count rose 0.2%.
Value ExxonMobil yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of −$32.8B and divides by 4,305.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 23.5x · peers — · sector 16.9x.
Balance sheet
Cash, debt and the ratios that show how comfortably ExxonMobil can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $6.8B | $29.6B | $31.5B | $23.0B | $10.7B |
| Debt incl. finance leases | $47.4B | $40.8B | $41.6B | $41.6B | $43.5B |
| Net debt / EBITDA | 0.8x | 0.1x | 0.1x | 0.3x | 0.5x |
| Debt / equity | 0.3x | 0.2x | 0.2x | 0.2x | 0.2x |
| Interest coverage | 34.0x | 98.4x | 63.2x | 50.1x | 69.4x |
| Current ratio | 1.0x | 1.4x | 1.5x | 1.3x | 1.2x |
| Quick ratio | 0.8x | 1.1x | 1.2x | 1.0x | 0.8x |
| Total assets | $338.9B | $369.1B | $376.3B | $453.5B | $449.0B |
| Total liabilities | $163.2B | $166.6B | $163.8B | $182.9B | $182.4B |
| Shareholders' equity | $168.6B | $195.0B | $204.8B | $263.7B | $259.4B |
| Net debt (− = net cash) | $40.6B | $11.2B | $10.0B | $18.6B | $32.8B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$2.4M
1 insider
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 16, 2026 | Darrin L TalleyVP - Corp Strategic Planning | Sold | 1,080 | $155.50 | $0.2M | Form 4 |
| Mar 2, 2026 | Darrin L TalleyVP - Corp Strategic Planning | Sold | 2,150 | $157.82 | $0.3M | Form 4 |
| Feb 9, 2026 | Darrin L TalleyVP - Corp Strategic Planning | Sold | 3,230 | $149.18 | $0.5M | Form 4 |
| Feb 2, 2026 | Darrin L TalleyVP - Corp Strategic Planning | Sold | 5,000 | $139.75 | $0.7M | Form 4 |
| Dec 17, 2025 | Darrin L TalleyVP - Corp Strategic Planning | Sold | 3,000 | $117.19 | $0.4M | Form 4 |
| Dec 15, 2025 | Darrin L TalleyVP - Corp Strategic Planning | Sold | 3,000 | $118.75 | $0.4M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✓ | ✓ | ✓ |
| Current ratio rose | ✓ | ✕ | ✕ |
| Share count didn't rise | ✓ | ✕ | ✕ |
| Gross margin rose | — | — | — |
| Revenue rose relative to assets | ✕ | ✕ | ✕ |
| F-score | 6 / 8 | 4 / 8 | 4 / 8 |
| Accruals ratio | −5.2% | −5.1% | −5.1% |
| Altman Z'' | 6.80 | 5.99 | 5.83 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| ExxonMobil XOM | $764.7B | −5.0% | — | 7.1% | 10.3% | 23.6x | 4 | |
| Chevron CVX | $460.6B | −6.8% | — | 8.8% | 6.7% | 22.4x | 5 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $200.6B | $244.4B | $290.2B | $264.9B | $181.5B | $285.6B | $413.7B | $344.6B | $349.6B | $332.2B |
| Research and development | $1.1B | $1.1B | $1.1B | $1.2B | $1.0B | $843M | $824M | $900M | $1.0B | $1.2B |
| Interest expense | $453M | $601M | $766M | $830M | $1.2B | $947M | $798M | $849M | $996M | $603M |
| Pretax income | $8.0B | $18.7B | $31.0B | $20.1B | −$28.9B | $31.2B | $77.8B | $52.8B | $48.9B | $41.3B |
| Income tax | −$406M | −$1.2B | $9.5B | $5.3B | −$5.6B | $7.6B | $20.2B | $15.4B | $13.8B | $11.5B |
| Net income | $7.8B | $19.7B | $20.8B | $14.3B | −$22.4B | $23.0B | $55.7B | $36.0B | $33.7B | $28.8B |
| Diluted EPS | $1.88 | $4.63 | $4.88 | $3.36 | −$5.25 | $5.39 | $13.26 | $8.89 | $7.84 | $6.70 |
| Diluted shares | 4.18B | 4.26B | 4.27B | 4.27B | 4.27B | 4.28B | 4.21B | 4.05B | 4.30B | 4.31B |
| Cash flow | ||||||||||
| Cash from operations | $22.1B | $30.1B | $36.0B | $29.7B | $14.7B | $48.1B | $76.8B | $55.4B | $55.0B | $52.0B |
| Capital expenditure | $16.2B | $15.4B | $19.6B | $24.4B | $17.3B | $12.1B | $18.4B | $21.9B | $24.3B | $28.4B |
| Free cash flow | $5.9B | $14.7B | $16.4B | $5.4B | −$2.6B | $36.1B | $58.4B | $33.5B | $30.7B | $23.6B |
| Depreciation and amortization | $22.3B | $19.9B | $18.7B | $19.0B | $46.0B | $20.6B | $24.0B | $20.6B | $23.4B | $26.0B |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $977M | $747M | $626M | $594M | $405M | $155M | $15.2B | $17.7B | $19.6B | $20.3B |
| Dividends paid | $12.5B | $13.0B | $13.8B | $14.7B | $14.9B | $14.9B | $14.9B | $14.9B | $16.7B | $17.2B |
| Dividends and buybacks | $13.4B | $13.7B | $14.4B | $15.2B | $15.3B | $15.1B | $30.1B | $32.7B | $36.3B | $37.5B |
| Balance sheet | ||||||||||
| Cash and short-term investments | $3.7B | $3.2B | $3.0B | $3.1B | $4.4B | $6.8B | $29.6B | $31.5B | $23.0B | $10.7B |
| Total debt | $41.4B | $40.9B | $37.5B | $46.5B | $67.4B | $47.4B | $40.8B | $41.6B | $41.6B | $43.5B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $2.0B | $1.6B | $2.0B | $2.4B | $2.7B |
| Current assets | $41.4B | $47.1B | $48.0B | $50.1B | $44.9B | $59.2B | $97.6B | $96.6B | $92.0B | $83.4B |
| Current liabilities | $47.6B | $57.8B | $57.1B | $64.0B | $56.4B | $56.6B | $69.0B | $65.3B | $70.3B | $72.3B |
| Inventory | $10.9B | $12.9B | $14.8B | $14.0B | $14.2B | $14.5B | $20.4B | $20.5B | $19.4B | $23.0B |
| Property and equipment, net | $244.2B | $252.6B | $247.1B | $253.0B | $227.6B | $216.6B | $204.7B | $214.9B | $294.3B | $299.4B |
| Total assets | $330.3B | $348.7B | $346.2B | $362.6B | $332.8B | $338.9B | $369.1B | $376.3B | $453.5B | $449.0B |
| Total liabilities | $156.5B | $154.2B | $147.7B | $163.7B | $168.6B | $163.2B | $166.6B | $163.8B | $182.9B | $182.4B |
| Shareholders' equity | $167.3B | $187.7B | $191.8B | $191.7B | $157.2B | $168.6B | $195.0B | $204.8B | $263.7B | $259.4B |
| Margins | ||||||||||
| EBITDA margin | 15.3% | 16.0% | 17.4% | 15.1% | 10.1% | 18.5% | 24.8% | 21.6% | 21.0% | 20.4% |
| Net margin | 3.9% | 8.1% | 7.2% | 5.4% | −12.4% | 8.1% | 13.5% | 10.5% | 9.6% | 8.7% |
| FCF margin | 3.0% | 6.0% | 5.7% | 2.0% | −1.4% | 12.6% | 14.1% | 9.7% | 8.8% | 7.1% |
| Returns | ||||||||||
| Return on capital | 4.0% | 8.7% | 9.4% | 6.5% | −9.3% | 11.0% | 27.1% | 17.4% | 14.0% | 10.3% |
| Return on capital employed | 3.0% | 6.7% | 10.9% | 7.1% | −9.6% | 11.5% | 27.0% | 17.6% | 14.4% | 11.0% |
| Return on equity | 4.6% | 11.1% | 11.0% | 7.5% | −12.9% | 14.2% | 30.7% | 18.0% | 14.4% | 11.0% |
| Return on assets | 2.4% | 5.8% | 6.0% | 4.1% | −6.5% | 6.9% | 15.8% | 9.7% | 8.1% | 6.4% |
| Growth | ||||||||||
| Revenue growth | −16.4% | 21.8% | 18.8% | −8.7% | −31.5% | 57.4% | 44.8% | −16.7% | 1.5% | −5.0% |
| Net income growth | −51.5% | 151.4% | 5.7% | −31.2% | −256.5% | — | 141.9% | −35.4% | −6.5% | −14.4% |
| EPS growth | −51.2% | 146.3% | 5.4% | −31.2% | −256.3% | — | 146.0% | −33.0% | −11.8% | −14.5% |
| FCF growth | 53.6% | 147.7% | 12.1% | −67.4% | −148.8% | — | 62.0% | −42.7% | −8.2% | −23.1% |
| Share count change | −0.5% | 1.9% | 0.3% | 0.0% | 0.0% | 0.1% | −1.6% | −3.6% | 6.1% | 0.2% |
| Financial health | ||||||||||
| Net debt / EBITDA | 1.2x | 1.0x | 0.7x | 1.1x | 3.5x | 0.8x | 0.1x | 0.1x | 0.3x | 0.5x |
| Debt / equity | 0.3x | 0.2x | 0.2x | 0.2x | 0.4x | 0.3x | 0.2x | 0.2x | 0.2x | 0.2x |
| Interest coverage | 18.6x | 32.1x | 41.4x | 25.2x | −23.9x | 34.0x | 98.4x | 63.2x | 50.1x | 69.4x |
| Current ratio | 0.9x | 0.8x | 0.8x | 0.8x | 0.8x | 1.0x | 1.4x | 1.5x | 1.3x | 1.2x |
| Quick ratio | 0.6x | 0.6x | 0.6x | 0.6x | 0.6x | 0.8x | 1.1x | 1.2x | 1.0x | 0.8x |
| Capital allocation | ||||||||||
| Capex / revenue | 8.1% | 6.3% | 6.7% | 9.2% | 9.5% | 4.2% | 4.5% | 6.4% | 7.0% | 8.5% |
| Payouts / FCF | 226.9% | 93.8% | 87.7% | 284.7% | — | 41.8% | 51.5% | 97.7% | 118.3% | 158.8% |
| Quality scores | ||||||||||
| Piotroski F-score | 5.0 | 6.0 | 7.0 | 4.0 | 3.0 | 7.0 | 8.0 | 6.0 | 4.0 | 4.0 |
| Altman Z'' | 5.2 | 5.4 | 5.8 | 5.2 | 4.0 | 5.6 | 7.0 | 6.8 | 6.0 | 5.8 |
| Accruals ratio | −4.3% | −3.1% | −4.4% | −4.3% | −10.7% | −7.5% | −6.0% | −5.2% | −5.1% | −5.1% |
Source: SEC EDGAR XBRL filings (CIK 0000034088). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.