Exxon Mobil (XOM) Financials

Spring, TX · Founded 1882 · 58,000 employees

Last Updated: 2025-12-08

Exxon Mobil generated $323.9B in revenue for fiscal year 2025, a -4.5% year-over-year change. Net income reached $29.8B.

Exxon is returning more cash than it genuinely generates, making its $20B annual buyback program the primary 'flex' factor for investors to watch if oil prices move lower. Growth is highly dependent on converting a massive 7.0 GOEB pile of undeveloped reserves, which carries significant execution and timing risk. ExxonMobil remains a cash-generative, integrated energy giant with deep reserves, advantaged growth (Permian, Guyana, LNG) and a shareholder-friendly capital return program. 2025 delivered strong operating cash flow (~$52.0B), net income of $28.8B, and aggressive capital returns (≈$20B buybacks and ~$17.2B dividends) alongside ~$29B of cash capital investment. That mix produced substantial shareholder distributions but reduced cash balances to ~$10.7B and tightened the margin for error if commodity prices fall.

Revenue Trend
$276.7BFY21$398.7BFY22$334.7BFY23$339.2BFY24$323.9BFY25

Exxon Mobil Key Financial Metrics

Revenue
$323.9B
-4.5% YoY
Net Income
$29.8B
9.2% margin
Gross Margin
N/A
EPS (Diluted)
$6.70
Total Assets
$449.0B
Total Equity
$266.6B
Cash & Equivalents
$10.7B
Total Debt
$43.5B

Exxon Mobil Income Statement & Revenue History

Fiscal YearRevenueYoY GrowthGross MarginOp. MarginNet IncomeEPS
FY2025$323.9B-4.5%0.0%0.0%$29.8B$6.70
FY2024$339.2B+1.4%41.2%14.7%$33.7B$7.84
FY2023$334.7B-16.0%42.3%16.0%$37.4B$8.89
FY2022$398.7B+44.1%42.6%0.0%$55.7B$13.26
FY2021$276.7B+54.9%43.9%0.0%$23.6B$5.39
FY2020$178.6B-30.1%47.4%0.0%$-22.4B$-5.25
FY2019$255.6B-8.5%21.9%0.0%$14.3B$3.36
FY2018$279.3B24.2%11.4%$20.8B$4.88

Exxon Mobil Cash Flow Statement

Fiscal YearOperating Cash FlowCapital ExpendituresFree Cash FlowInvestingFinancing
FY2025$52.0B$-28.4B$23.6B$-25.9B$-39.1B
FY2024$55.0B$-24.3B$30.7B$-19.9B$-42.8B
FY2023$55.4B$-21.9B$33.5B$-19.3B$-34.3B
FY2022$76.8B$-18.4B$58.4B$-14.7B$-39.1B
FY2021$48.1B$-12.1B$36.1B$-10.2B$-35.4B
FY2020$14.7B$-17.3B$-2.7B$-18.5B$5.3B
FY2019$29.7B$-24.4B$5.4B$-23.1B$-6.6B
FY2018$36.0B$-19.6B$16.4B$-16.4B$-19.4B

Exxon Mobil Balance Sheet Summary

Fiscal YearTotal AssetsTotal LiabilitiesTotal EquityCashTotal Debt
FY2025$449.0B$182.4B$266.6B$10.7B$43.5B
FY2024$453.5B$182.9B$270.6B$0$41.7B
FY2023$376.3B$163.8B$204.8B$31.6B$41.6B
FY2022$369.1B$166.6B$195.0B$29.6B$41.2B
FY2021$338.9B$163.2B$175.7B$6.8B$47.7B
FY2020$332.8B$168.6B$164.1B$4.4B$67.6B
FY2019$362.6B$163.7B$198.9B$3.1B$46.9B
FY2018$346.2B$147.7B$191.8B$3.0B$37.8B

Exxon Mobil Strategic Analysis

Top Strengths

  • Strong operating cash flow (≈$52.0B in 2025) and low net leverage (net debt to capital ≈11%)
  • Large, diversified proved reserves (19.3 GOEB) and advantaged growth pipeline (Permian, Guyana, LNG)
  • Integrated Product Solutions (refining/chemicals/specialty) provides margin capture and feedstock advantages

Top Concerns

  • Aggressive $20B annual buybacks plus $17B dividends reduce cash cushion vs cyclicality
  • High proportion of proved undeveloped reserves (≈7.0 GOEB / 36%) with multi‑year timelines and execution risk
  • Rising climate-related litigation and uncertain policy/tax regimes (windfall taxes, carbon pricing) could raise costs

Exxon Mobil Key Corporate Events

May 2024
Exxon Completes Pioneer Deal; 2.3234 Shares Per Pioneer Share
Oct 2023
Exxon to buy Pioneer for 2.3234 Exxon shares per share
Dec 2022
Exxon Funds and Discharges Two Notes Due March-April 2023
Dec 2021
Exxon Redeems $1.15B of 2.397% Notes, Indenture Discharged
Nov 2020
Exxon to take $17B-$20B impairment; cuts capex, suspends bonuses

Frequently Asked Questions About Exxon Mobil Financials

How much revenue does Exxon Mobil make?

Exxon Mobil generated $323.9B in revenue for fiscal year 2025. That represents a -4.5% change from $339.2B in fiscal year 2024.

Is Exxon Mobil profitable?

Yes, Exxon Mobil is profitable. The company reported net income of $29.8B in fiscal year 2025, representing a net profit margin of 9.2%. In the prior fiscal year 2024, net income was $33.7B.

How many employees does Exxon Mobil have?

Exxon Mobil employs approximately 58,000 people worldwide. The company is headquartered in Spring, TX and was founded in 1882.

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