Stock Analysis on Net
Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Exxon Mobil Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Mar 31, 2026 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
Notes and loans payable 3.13 2.07 2.03 1.21 1.05 1.09 1.22 1.44 2.18 1.09 1.27 1.08 0.62 0.17 1.67 2.00 1.38 1.26 3.85 4.53 5.45
Accounts payable and accrued liabilities 16.60 13.57 14.39 13.34 14.16 13.52 13.10 13.05 15.75 15.42 16.72 14.98 16.23 17.12 16.90 18.48 17.90 14.98 14.04 13.57 12.29
Income taxes payable 0.59 0.47 0.72 0.67 1.13 0.89 0.83 0.88 1.10 0.85 1.12 0.96 1.20 1.41 1.44 1.30 1.04 0.47 0.49 0.35 0.28
Current liabilities 20.32% 16.11% 17.13% 15.23% 16.34% 15.50% 15.15% 15.36% 19.03% 17.36% 19.12% 17.02% 18.05% 18.71% 20.01% 21.78% 20.31% 16.71% 18.37% 18.45% 18.02%
Long-term debt, excluding due within one year 7.13 7.63 7.22 7.50 7.26 8.11 7.99 7.94 8.52 9.96 9.81 10.34 10.60 10.99 10.60 10.74 12.02 12.81 12.96 13.44 13.52
Postretirement benefits reserves 1.93 1.97 2.29 2.31 2.22 2.14 2.31 2.26 2.77 2.79 2.73 2.83 2.76 2.72 4.54 4.73 5.15 5.44 6.26 6.55 6.54
Deferred income tax liabilities 8.62 8.96 8.79 8.80 8.65 8.61 8.72 8.70 6.38 6.50 6.42 6.46 6.28 6.20 5.75 5.66 5.51 5.95 5.65 5.49 5.43
Long-term obligations to equity companies 0.12 0.12 0.25 0.25 0.31 0.30 0.35 0.35 0.51 0.48 0.56 0.56 0.64 0.63 0.72 0.71 0.81 0.84 0.91 0.90 0.98
Other long-term obligations 5.68 5.83 5.27 5.60 5.52 5.67 5.63 5.43 6.41 6.44 5.61 5.81 5.79 5.89 6.24 6.20 6.45 6.41 6.11 6.09 6.34
Long-term liabilities 23.48% 24.51% 23.83% 24.46% 23.96% 24.82% 25.01% 24.67% 24.59% 26.16% 25.13% 26.00% 26.07% 26.43% 27.84% 28.05% 29.93% 31.45% 31.88% 32.46% 32.81%
Total liabilities 43.80% 40.62% 40.96% 39.69% 40.30% 40.33% 40.16% 40.03% 43.62% 43.52% 44.25% 43.01% 44.12% 45.14% 47.85% 49.83% 50.24% 48.16% 50.25% 50.92% 50.83%
Common stock without par value 10.00 10.28 10.30 10.42 10.27 10.20 10.16 10.15 4.76 4.73 4.34 4.41 4.31 4.27 4.35 4.36 4.48 4.65 4.78 4.75 4.76
Earnings reinvested 103.86 107.46 105.73 106.58 104.95 103.84 101.24 100.56 121.28 120.62 120.92 122.43 119.27 117.28 114.51 110.91 111.00 115.68 114.93 113.83 114.74
Accumulated other comprehensive loss -2.39 -2.42 -2.81 -2.78 -3.17 -3.22 -2.59 -2.86 -3.48 -3.19 -3.52 -3.48 -3.55 -3.60 -4.81 -4.08 -3.64 -4.06 -4.96 -4.62 -4.82
Common stock held in treasury -56.69 -57.55 -55.87 -55.55 -53.92 -52.66 -50.67 -49.59 -68.24 -67.74 -68.10 -68.56 -66.24 -65.11 -63.78 -62.97 -64.13 -66.52 -67.06 -66.94 -67.64
Total ExxonMobil share of equity 54.78% 57.77% 57.35% 58.67% 58.14% 58.15% 58.15% 58.26% 54.31% 54.42% 53.65% 54.80% 53.79% 52.85% 50.28% 48.21% 47.70% 49.74% 47.70% 47.01% 47.03%
Noncontrolling interests 1.42 1.61 1.69 1.65 1.57 1.52 1.69 1.71 2.06 2.06 2.10 2.19 2.09 2.01 1.88 1.96 2.06 2.10 2.05 2.07 2.14
Total equity 56.20% 59.38% 59.04% 60.31% 59.70% 59.67% 59.84% 59.97% 56.38% 56.48% 55.75% 56.99% 55.88% 54.86% 52.15% 50.17% 49.76% 51.84% 49.75% 49.08% 49.17%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-03-31), 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 capital structure exhibits a strategic shift toward a more equity-heavy composition over the observed period. Total liabilities declined from a peak of 50.92% in June 2021 to a low of 39.69% by June 2025, before rebounding slightly to 43.80% by March 2026. Conversely, total equity increased from 49.17% in March 2021 to a peak of 60.31% in June 2025, indicating a strengthening of the solvency position and a reduction in financial leverage.

Debt and Long-Term Liability Trends
A consistent deleveraging trend is evident in long-term debt, which decreased from 13.52% of total liabilities and equity in March 2021 to 7.13% by March 2026. This reduction is complemented by a steady decline in postretirement benefits reserves, which fell from 6.54% to 1.93% over the same period. However, deferred income tax liabilities showed a general upward trajectory, rising from 5.43% in early 2021 to a peak of 8.96% in December 2025, suggesting a shifting profile within the long-term obligation structure.
Equity and Capital Composition
A significant structural adjustment occurred around June 2024, marked by a sharp increase in common stock from approximately 4.7% to over 10% of total liabilities and equity. Simultaneously, the negative impact of treasury stock was reduced from -68.24% in March 2024 to -49.59% in June 2024, suggesting a change in share repurchase activity or a new issuance of equity. Earnings reinvested remained the dominant component of equity, though they transitioned from a range of 114% to 122% in the 2021-2023 period to a range of 100% to 107% from 2024 onwards.
Short-Term Obligations and Liquidity
Current liabilities fluctuated throughout the period, peaking at 21.78% in June 2022 before stabilizing between 15% and 19% for several quarters. Accounts payable and accrued liabilities remained the primary driver of current obligations, generally oscillating between 13% and 18%. Notes and loans payable remained relatively low for most of the period, though a notable increase to 3.13% was observed by March 2026, coinciding with a broader increase in total liabilities during that quarter.
Minority and Other Interests
Noncontrolling interests exhibited a gradual decline, moving from 2.14% in March 2021 to 1.42% by March 2026. Long-term obligations to equity companies also trended downward, decreasing from 0.98% to 0.12%, indicating a reduction in the relative weight of these specific obligations within the overall balance sheet.

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