Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

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Common-Size Balance Sheet: Assets
Quarterly Data

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Exxon Mobil Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents
Cash and cash equivalents, restricted
Notes and accounts receivable, net
Crude oil, products and merchandise
Materials and supplies
Inventories
Other current assets
Current assets
Investments, advances and long-term receivables
Property, plant and equipment, net
Other assets, including intangibles, net
Long-term assets
Total assets

Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


The composition of assets for the analyzed entity demonstrates significant shifts over the observed period, spanning from March 31, 2021, to December 31, 2025. A notable trend is the fluctuation in current asset allocation, particularly in cash and cash equivalents, alongside changes in the weighting of long-term assets, primarily property, plant, and equipment.

Cash and Cash Equivalents
The proportion of assets held as cash and cash equivalents experienced a substantial increase from 1.05% in March 2021 to a peak of 8.84% in March 2023. This was followed by a consistent decline to 2.38% by December 2025. The restricted cash component remained minimal throughout the period, increasing from negligible amounts to 0.33% in March 2025 before decreasing again. This suggests a dynamic liquidity management strategy, potentially linked to investment cycles or operational needs.
Current Assets
Overall, current assets as a percentage of total assets initially increased from 14.44% in March 2021 to 27.17% in September 2023. Subsequently, a decrease was observed, falling to 18.57% by December 2025. This movement correlates with the trends in cash and cash equivalents, as well as fluctuations in inventories and accounts receivable. The increase in current assets in the earlier period could indicate a build-up of working capital, while the later decline suggests utilization of these assets.
Accounts Receivable
Notes and accounts receivable, net, exhibited an upward trend from 7.42% in March 2021 to 13.07% in June 2022, before stabilizing around 10-11% for the subsequent periods. A slight increase is observed towards the end of the period, reaching 9.93% in December 2025. This suggests a relatively consistent level of credit extension and collection efficiency, with minor variations.
Inventory
Inventories demonstrated a gradual increase from 5.50% in March 2021 to 6.68% in December 2023, followed by a decline to 5.86% by December 2025. This pattern may reflect changes in production levels, sales demand, or supply chain dynamics. The fluctuations are less pronounced than those observed in cash and cash equivalents.
Long-Term Assets
Long-term assets, primarily property, plant, and equipment, constituted the largest portion of total assets throughout the period. Their proportion decreased from 85.56% in March 2021 to a low of 73.18% in September 2022, then increased to 81.43% by December 2025. This suggests potential capital expenditure patterns, asset depreciation, or revaluation adjustments. The increase towards the end of the period could indicate renewed investment in long-term assets.
Other Assets
The percentage of total assets represented by other assets, including intangibles, remained relatively stable, fluctuating between approximately 3.96% and 5.32% throughout the analyzed timeframe. This indicates a consistent level of investment in non-current, non-property, plant, and equipment assets.

In summary, the asset composition experienced considerable changes, with a significant increase and subsequent decrease in current assets, particularly cash, and a fluctuating proportion of long-term assets. These shifts likely reflect strategic decisions related to liquidity management, capital investment, and operational adjustments.