# Exxon Mobil Corporation (XOM) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-12  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/XOM/thesis · /stocks/XOM/memo

## Financial Snapshot

---
ticker: XOM
step: 04
generated: 2026-05-11
source: quick-research
---

### Exxon Mobil Corporation (XOM) — Financial Snapshot

#### Income Statement Summary

| Metric | FY2023 | FY2024 | FY2025 | YoY |
|--------|--------|--------|--------|-----|
| Revenue | $344.6B | $339.2B | $343.5B | +1.3% |
| Earnings | $36.0B | $33.7B | $28.8B | -15% |
| Adjusted Earnings (ex-items) | $36.6B | $33.5B | $30.1B | -10% |
| EPS (diluted) | $8.89 | $7.84 | $6.85 | -13% |
| Upstream Earnings | $21.3B | $25.4B | ~$22B | -13% |
| Product Solutions Earnings | $12.1B | $4.2B | ~$5B | +20% |

#### Production & Operations (FY2025)

| Metric | Value |
|--------|-------|
| Total Production | 4.7M BOE/day (40-year high) |
| Permian Production | 1.6M BOE/day |
| Guyana Production | 700K+ gross bpd |
| Pioneer Synergies (annual) | $3B+ (raised from $2B initial target) |
| Refining Throughput | ~3.9M bpd |

#### Cash Flow & Balance Sheet (FY2025)

| Metric | Value |
|--------|-------|
| Cash Flow from Operations | $52.0B |
| Capital Expenditures | ~$26B |
| Free Cash Flow | ~$26B |
| Cash & Equivalents | ~$22B |
| Total Debt | ~$38B |
| Debt-to-Capital | ~12% (lowest among super-majors) |

#### Key Ratios (approximate, May 2026)
- P/E (forward): ~13x | EV/EBITDA: ~7x | Dividend Yield: ~2.6%
- Buyback Yield: ~3.1% ($20B annual program / ~$640B mkt cap)
- ROIC: ~13% | FCF Yield: ~4%
- Reserve Life Index: ~13 years

#### Growth Profile
XOM is in execution mode on its post-Pioneer growth plan — record production of 4.7M BOE/day in 2025, with management targeting >5M BOE/day by 2030 and ~$20B in additional earnings vs 2024 base case. Key projects: Golden Pass LNG (first cargo Q1 2026), additional Guyana FPSOs, expanded Permian cube development, and emerging Low Carbon (CCS contracts at 9Mt and ramping; Arkansas lithium 2027). Earnings sensitivity remains high to oil price (Brent has averaged $85-115 across 2025-2026 windows).

#### Forward Estimates
- **2026E Revenue:** ~$355B (depends on oil price assumption)
- **2026E EPS:** ~$8.50 (consensus, +24% — assumes Brent ~$85-95)
- **2026E FCF:** ~$32B (consensus)
- **2030 Plan target:** $20B incremental earnings + $30B incremental cash flow vs. 2024
- **Capex range 2026-2030:** $27-29B annually

#### Capital Return
- $20B/year share repurchase program ongoing
- Dividend grown 41+ consecutive years (current ~$4/share annual)
- Q1 2026 shareholder distributions: $9.2B
- Target: returning $130B+ to shareholders by 2027

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/XOM/fundamental

## Navigation

- Overview: /stocks/XOM
- Financials (this page): /stocks/XOM/financials
- Thesis: /stocks/XOM/thesis
- Investment Memo: /stocks/XOM/memo
- Coverage universe: /stocks