Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Common-Size Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Exxon Mobil Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Over the five-year period, a notable shift in the company’s capital structure is observed. The proportion of total liabilities to total liabilities and equity generally decreased, while the proportion of total equity increased, though with some fluctuations. This suggests a strengthening of the company’s financial position from the perspective of leverage.
- Current Liabilities
- Current liabilities, as a percentage of total liabilities and equity, exhibited a decrease from 16.71% in 2021 to 15.50% in 2024, before slightly increasing to 16.11% in 2025. Within current liabilities, income taxes payable showed volatility, peaking at 1.41% in 2022 before returning to 0.47% in 2025, mirroring its initial level. Accounts payable and accrued liabilities decreased from 14.98% to 13.52% over the period, with a slight increase to 13.57% in the final year.
- Long-Term Liabilities
- Long-term liabilities demonstrated a consistent decline as a percentage of total liabilities and equity, moving from 31.45% in 2021 to 24.51% in 2025. This reduction was primarily driven by decreases in long-term debt (excluding due within one year) and postretirement benefit reserves. Long-term obligations to equity companies also experienced a substantial decrease, falling from 0.84% to 0.12% over the period. Deferred income tax liabilities increased from 5.95% to 8.96% over the period, representing a growing portion of long-term obligations.
- Equity Composition
- Total equity increased from 51.84% to 59.38% of total liabilities and equity. This increase was largely attributable to changes in earnings reinvested, which rose from 115.68% to 107.46% over the period, despite a dip in 2024. Common stock without par value saw a significant increase in 2024 (10.20%) before stabilizing at 10.28% in 2025. Common stock held in treasury consistently represented a substantial negative portion of equity, fluctuating between -65.11% and -67.74% before decreasing to -57.55% in 2025. Accumulated other comprehensive loss decreased in magnitude, moving from -4.06% to -2.42%.
- Notes and Loans Payable & Payables to Equity Companies
- Notes and loans payable experienced a significant decrease initially, falling to 0.17% in 2022, before increasing to 2.07% in 2025. Payables to equity companies also decreased over the period, from 2.62% to 1.94%, indicating a reduction in obligations to related parties.
In summary, the company appears to have reduced its reliance on debt financing, as evidenced by the declining proportion of long-term liabilities. Simultaneously, equity increased as a percentage of the capital structure, driven primarily by retained earnings and changes in treasury stock. These trends suggest a strengthening financial position and a potential shift towards a more conservative capital structure.