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$156.71
Market Capi
$644B
Growth-adj P/E (3-yr hist)i
n/a
Growth-adj P/E (3-yr proj)i
0.8x
P/S 26Ei
1.6x
P/S 28Ei
1.6x
EV/EBIT 26Ei
9.7x
EV/EBIT 28Ei
12x
P/E 26Ei
14x
P/E 28Ei
14x
P/S 26Ei
1.6x
EV/EBIT 26Ei
9.7x
P/E 26Ei
14x
P/S 28Ei
1.6x
EV/EBIT 28Ei
12x
P/E 28Ei
14x
Revenue
2026E
$406B
Gross Margini
30%
Hist. CAGRi
-7.1%
Proj. CAGRi
4.3%
EBIT
2026E
$62B
Op. Margini
11%
Hist. CAGRi
-21%
Proj. CAGRi
17%
Net profit
2026E
$49B
Net Margini
8.7%
Hist. CAGRi
-20%
Proj. CAGRi
17%
Business Model
Recent Developments
Average Targeti
$167.73+9%
Consensusi
Outperform
25 analysts covering
Net debti
$22B
Div. Yieldi
2.6%
Buyback Yldi
4.0%
Market Capi
$644B
P/E 26Ei
14x
Adj. P/E (fwd.)i
0.8x
Revenue 26E
$406B
Proj. CAGRi
4.3%
Gross Margini
30%
EBIT 26E
$62B
Proj. CAGRi
17%
Op. Margini
11%
Net Profit 26E
$49B
Proj. CAGRi
17%
Net Margini
8.7%
Average Targeti
$167.73+9%
Consensusi
Outperform
25 analysts covering
Profile
ExxonMobil is one of the world's largest publicly traded energy companies, operating across the full hydrocarbon value chain — from exploration and production through refining, chemicals, and emerging low-carbon businesses.
Industry
ExxonMobil sells primarily to industrial and commercial buyers — refiners, petrochemical plants, utilities, fuel distributors, and large industrial end-users — rather than directly to retail consumers at scale. Geographically, the US accounts for roughly 42% of net sales, with Canada (~8%) and international markets making up the remainder. The upstream business sells crude and gas into commodity markets at prevailing prices, making earnings acutely sensitive to oil price cycles. The chemicals and refining segments offer somewhat more stable margins through the cycle, though they too correlate with energy feedstock costs.
Key metrics
Economic moat
ExxonMobil's structural advantages rest on scale and asset quality rather than technology lock-in. Its Permian Basin position — over 1.4 million net acres with an estimated 16 billion barrels of resource — gives it among the lowest-cost onshore drilling inventory of any major. Guyana represents a rare, high-margin deepwater basin where ExxonMobil holds operatorship across multiple blocks. Integration across the value chain (production → refining → chemicals) allows feedstock cost advantages that smaller independents cannot replicate. Decades of project execution capability and long-standing relationships with national oil companies add further barriers to competitive displacement.
Darren Woods
Woods has led ExxonMobil as CEO since January 2017, taking over from Rex Tillerson. A 30-year company veteran, he rose through the refining and chemicals businesses before becoming chairman of ExxonMobil's refining subsidiary and then president of the corporation. His tenure has been defined by disciplined capital allocation through the 2020 downturn and then an aggressive repositioning around high-return advantaged assets — most visibly through the $60 billion Pioneer Natural Resources acquisition completed in May 2024. He has resisted activist pressure to pivot away from hydrocarbons, betting that long-cycle supply constraints will keep oil prices supportive.
Neil A. Hansen
Hansen became CFO in January 2026, stepping into the role with deep internal experience across ExxonMobil's investor relations and financial planning functions. His appointment is notable for its timing — at the outset of an ambitious multi-year production growth and capital return program — signaling continuity in the financial strategy Woods has built.
Other key figures
Matt Furman (General Counsel, since March 2022) oversees legal and governance matters, including the ongoing climate litigation exposure that remains a background risk for the company. Jim Burgess (Controller, since 2013) provides long-tenured financial oversight across reporting and audit functions. The board includes several independent directors with energy, finance, and sustainability backgrounds, reflecting pressure from the 2021 Engine No. 1 proxy contest that seated three activist-backed directors.
P/S Ratioi
EV/EBITi
P/E Ratioi
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Revenue rose 42% year-over-year to $116 billion for the quarter ended June 30, 2026, as crude prices spiked; GAAP earnings of $14.5 billion ($3.48 per share) more than doubled the year-ago period.
Adjusted earnings per share of $3.52 came in slightly below expectations, pressured by scheduled maintenance and Middle East-related production disruptions.
Refining swung sharply higher, with Energy Products adjusted earnings of $4.1 billion, up from $2.8 billion last quarter, on record diesel output; Chemical Products earnings jumped to $1.13 billion from $110 million.
Permian production hit a record above 1.8 million barrels of oil equivalent per day, funding $9.4 billion in shareholder distributions ($4.3 billion dividends, $5.1 billion buybacks).
Recent developments
Results were reported July 31, 2026, alongside comparable strength across the industry, as rival majors posted similar profit surges on crude prices lifted by Middle East supply concerns.
The fifth Guyana production vessel began its voyage, with startup targeted for the fourth quarter of 2026 and an expected 250,000 barrels per day of added capacity.
The board declared a third-quarter dividend of $1.03 per share, payable September 10, 2026, and structural cost savings reached $16.3 billion.
Debate & sentiment
Bulls point to a structurally improved earnings engine — record Permian volumes, a turned-around refining and chemicals business, and rising free cash flow — as evidence profitability can hold beyond this price cycle.
Skeptics counter that much of the strength traces to a geopolitically driven oil-price spike rather than company-specific execution, raising doubts about durability once prices normalize.
After a strong year-to-date run, some see stretched valuation multiples limiting further upside, while others have grown more constructive and raised price targets.
A guided pullback in Guyana entitlement volumes and refining margins unlikely to repeat this quarter's exceptional levels will test whether current earnings can hold.
Consensusi
Outperform
Average targeti
$167.73+9%
Highest targeti
$185.00+20%
Lowest targeti
$142.00-8%
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