Debt to Equity
since 2005
Calculation
Exxon Mobil Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Notes, loans payable and long-term debt1 | ÷ | Total ExxonMobil share of equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2024 | 0.16 | = | 41,710) | ÷ | 263,705) |
| Dec 31, 2023 | 0.20 | = | 41,573) | ÷ | 204,802) |
| Dec 31, 2022 | 0.21 | = | 41,193) | ÷ | 195,049) |
| Dec 31, 2021 | 0.28 | = | 47,704) | ÷ | 168,577) |
| Dec 31, 2020 | 0.43 | = | 67,640) | ÷ | 157,150) |
| Dec 31, 2019 | 0.24 | = | 46,920) | ÷ | 191,650) |
| Dec 31, 2018 | 0.20 | = | 37,796) | ÷ | 191,794) |
| Dec 31, 2017 | 0.23 | = | 42,336) | ÷ | 187,688) |
| Dec 31, 2016 | 0.26 | = | 42,762) | ÷ | 167,325) |
| Dec 31, 2015 | 0.23 | = | 38,687) | ÷ | 170,811) |
| Dec 31, 2014 | 0.17 | = | 29,121) | ÷ | 174,399) |
| Dec 31, 2013 | 0.13 | = | 22,699) | ÷ | 174,003) |
| Dec 31, 2012 | 0.07 | = | 11,581) | ÷ | 165,863) |
| Dec 31, 2011 | 0.11 | = | 17,033) | ÷ | 154,396) |
| Dec 31, 2010 | 0.10 | = | 15,014) | ÷ | 146,839) |
| Dec 31, 2009 | 0.09 | = | 9,605) | ÷ | 110,569) |
| Dec 31, 2008 | 0.08 | = | 9,425) | ÷ | 112,965) |
| Dec 31, 2007 | 0.08 | = | 9,566) | ÷ | 121,762) |
| Dec 31, 2006 | 0.07 | = | 8,347) | ÷ | 113,844) |
| Dec 31, 2005 | 0.07 | = | 7,991) | ÷ | 111,186) |
Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
- Notes, loans payable and long-term debt
- The company's long-term debt exhibited a general upward trend from 2005 through 2015, increasing from approximately $7.99 billion to a peak of $42.76 billion. Afterward, there was a decline in debt levels observed in the subsequent years, reaching around $37.8 billion by 2018. However, the debt load rose again significantly in 2020, peaking at approximately $67.64 billion. More recent years show a decrease, stabilizing around $41.7 billion by 2024.
- Total ExxonMobil share of equity
- Shareholders’ equity showed an overall growth trend over the analyzed period. Starting at $111.2 billion in 2005, equity increased steadily to around $187.7 billion by 2017, with some fluctuations in intermediate years. Following a slight decline to $157.2 billion in 2020, equity rebounded strongly in the next years, reaching a high of $263.7 billion by 2024, indicating substantial growth in shareholder value.
- Debt to equity ratio
- The debt to equity ratio remained relatively low and stable from 2005 to 2012, fluctuating between 0.07 and 0.11, indicating a conservative capital structure with limited leverage. Post-2012, the ratio showed increased volatility and a rising trend, hitting a high of 0.43 in 2020, reflecting a significant increase in leverage, likely influenced by the substantial rise in debt levels that year. Subsequently, the ratio declined steadily, reaching 0.16 by 2024, suggesting a reduction in leverage and an emphasis on strengthening the equity base relative to debt.
Comparison to Competitors
Exxon Mobil Corp., debt to equity, long-term trends, comparison to competitors
| Exxon Mobil Corp. | Chevron Corp. | ConocoPhillips | |
|---|---|---|---|
| Dec 31, 2024 | 0.16 | 0.16 | 0.38 |
| Dec 31, 2023 | 0.20 | 0.13 | 0.38 |
| Dec 31, 2022 | 0.21 | 0.15 | 0.35 |
| Dec 31, 2021 | 0.28 | 0.23 | 0.44 |
| Dec 31, 2020 | 0.43 | 0.34 | 0.51 |
| Dec 31, 2019 | 0.24 | 0.19 | 0.43 |
| Dec 31, 2018 | 0.20 | 0.22 | 0.47 |
| Dec 31, 2017 | 0.23 | 0.26 | 0.64 |
| Dec 31, 2016 | 0.26 | 0.32 | 0.78 |
| Dec 31, 2015 | 0.23 | 0.25 | 0.63 |
| Dec 31, 2014 | 0.17 | 0.18 | 0.43 |
| Dec 31, 2013 | 0.13 | 0.14 | 0.42 |
| Dec 31, 2012 | 0.07 | 0.09 | 0.45 |
| Dec 31, 2011 | 0.11 | 0.08 | 0.35 |
| Dec 31, 2010 | 0.10 | 0.11 | 0.34 |
| Dec 31, 2009 | 0.09 | 0.11 | 0.46 |
| Dec 31, 2008 | 0.08 | 0.10 | 0.50 |
| Dec 31, 2007 | 0.08 | 0.09 | 0.24 |
| Dec 31, 2006 | 0.07 | 0.14 | 0.33 |
| Dec 31, 2005 | 0.07 | 0.21 | 0.24 |
Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Exxon Mobil Corp., debt to equity, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Exxon Mobil Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2024 | 0.16 | 0.19 |
| Dec 31, 2023 | 0.20 | 0.20 |
| Dec 31, 2022 | 0.21 | 0.20 |
| Dec 31, 2021 | 0.28 | 0.28 |
| Dec 31, 2020 | 0.43 | 0.40 |
| Dec 31, 2019 | 0.24 | 0.24 |
| Dec 31, 2018 | 0.20 | 0.23 |
| Dec 31, 2017 | 0.23 | 0.28 |
| Dec 31, 2016 | 0.26 | 0.33 |
| Dec 31, 2015 | 0.23 | 0.28 |
| Dec 31, 2014 | 0.17 | 0.21 |
| Dec 31, 2013 | 0.13 | 0.17 |
| Dec 31, 2012 | 0.07 | 0.13 |
| Dec 31, 2011 | 0.11 | 0.15 |
| Dec 31, 2010 | 0.10 | 0.16 |
| Dec 31, 2009 | 0.09 | 0.18 |
| Dec 31, 2008 | 0.08 | 0.18 |
| Dec 31, 2007 | 0.08 | 0.13 |
| Dec 31, 2006 | 0.07 | 0.17 |
| Dec 31, 2005 | 0.07 | 0.15 |
Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Exxon Mobil Corp., debt to equity, long-term trends, comparison to industry (energy)
| Exxon Mobil Corp. | Energy | |
|---|---|---|
| Dec 31, 2024 | 0.16 | 0.20 |
| Dec 31, 2023 | 0.20 | 0.21 |
| Dec 31, 2022 | 0.21 | 0.22 |
| Dec 31, 2021 | 0.28 | 0.31 |
| Dec 31, 2020 | 0.43 | 0.44 |
| Dec 31, 2019 | 0.24 | 0.26 |
| Dec 31, 2018 | 0.20 | 0.25 |
| Dec 31, 2017 | 0.23 | 0.30 |
| Dec 31, 2016 | 0.26 | 0.35 |
| Dec 31, 2015 | 0.23 | 0.30 |
| Dec 31, 2014 | 0.17 | 0.22 |
| Dec 31, 2013 | 0.13 | 0.19 |
| Dec 31, 2012 | 0.07 | 0.15 |
| Dec 31, 2011 | 0.11 | 0.16 |
| Dec 31, 2010 | 0.10 | 0.17 |
| Dec 31, 2009 | 0.09 | 0.19 |
| Dec 31, 2008 | 0.08 | 0.19 |
| Dec 31, 2007 | 0.08 | 0.15 |
| Dec 31, 2006 | 0.07 | 0.19 |
| Dec 31, 2005 | 0.07 | 0.16 |
Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).