Stock Analysis on Net
Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

Analysis of Solvency Ratios

Microsoft Excel LibreOffice Calc

Solvency Ratios (Summary)

Exxon Mobil Corp., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Debt Ratios
Debt to equity 0.43 0.24 0.20 0.23 0.26
Debt to equity (including operating lease liability) 0.46 0.27 0.20 0.23 0.26
Debt to capital 0.30 0.20 0.16 0.18 0.20
Debt to capital (including operating lease liability) 0.32 0.22 0.16 0.18 0.20
Debt to assets 0.20 0.13 0.11 0.12 0.13
Debt to assets (including operating lease liability) 0.22 0.15 0.11 0.12 0.13
Financial leverage 2.12 1.89 1.81 1.86 1.97
Coverage Ratios
Interest coverage -23.94 25.16 41.41 32.07 18.59
Fixed charge coverage -5.68 5.66 9.89 6.80 3.25

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Exxon Mobil Corp.’s debt to equity ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Exxon Mobil Corp.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Exxon Mobil Corp.’s debt to capital ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Exxon Mobil Corp.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Exxon Mobil Corp.’s debt to assets ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Exxon Mobil Corp.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Exxon Mobil Corp.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Exxon Mobil Corp.’s interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Exxon Mobil Corp.’s fixed charge coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Equity

Exxon Mobil Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  20,578  17,258  17,930  13,830 
Long-term debt, excluding due within one year 47,182  26,342  20,538  24,406  28,932 
Total debt 67,640  46,920  37,796  42,336  42,762 
 
Total ExxonMobil share of equity 157,150  191,650  191,794  187,688  167,325 
Solvency Ratio
Debt to equity1 0.43 0.24 0.20 0.23 0.26
Benchmarks
Debt to Equity, Competitors2
Chevron Corp. 0.34 0.19 0.22 0.26 0.32
ConocoPhillips 0.51 0.43 0.47 0.64 0.78
Debt to Equity, Sector
Oil, Gas & Consumable Fuels 0.40 0.24 0.23 0.28 0.33

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to equity = Total debt ÷ Total ExxonMobil share of equity
= 67,640 ÷ 157,150 = 0.43

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Exxon Mobil Corp.’s debt to equity ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Equity (including Operating Lease Liability)

Exxon Mobil Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  20,578  17,258  17,930  13,830 
Long-term debt, excluding due within one year 47,182  26,342  20,538  24,406  28,932 
Total debt 67,640  46,920  37,796  42,336  42,762 
Operating lease liability due within one year (included in Accounts payable and accrued liabilities) 1,168  1,211  —  —  — 
Long-term operating lease liability (included in Other long-term obligations) 3,994  4,482  —  —  — 
Total debt (including operating lease liability) 72,802  52,613  37,796  42,336  42,762 
 
Total ExxonMobil share of equity 157,150  191,650  191,794  187,688  167,325 
Solvency Ratio
Debt to equity (including operating lease liability)1 0.46 0.27 0.20 0.23 0.26
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Chevron Corp. 0.37 0.21 0.22 0.26 0.32
ConocoPhillips 0.54 0.45 0.47 0.64 0.78
Debt to Equity (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.43 0.27 0.23 0.28 0.33

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total ExxonMobil share of equity
= 72,802 ÷ 157,150 = 0.46

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Exxon Mobil Corp.’s debt to equity ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Capital

Exxon Mobil Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  20,578  17,258  17,930  13,830 
Long-term debt, excluding due within one year 47,182  26,342  20,538  24,406  28,932 
Total debt 67,640  46,920  37,796  42,336  42,762 
Total ExxonMobil share of equity 157,150  191,650  191,794  187,688  167,325 
Total capital 224,790  238,570  229,590  230,024  210,087 
Solvency Ratio
Debt to capital1 0.30 0.20 0.16 0.18 0.20
Benchmarks
Debt to Capital, Competitors2
Chevron Corp. 0.25 0.16 0.18 0.21 0.24
ConocoPhillips 0.34 0.30 0.32 0.39 0.44
Debt to Capital, Sector
Oil, Gas & Consumable Fuels 0.29 0.19 0.19 0.22 0.25

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 67,640 ÷ 224,790 = 0.30

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Exxon Mobil Corp.’s debt to capital ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Capital (including Operating Lease Liability)

Exxon Mobil Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  20,578  17,258  17,930  13,830 
Long-term debt, excluding due within one year 47,182  26,342  20,538  24,406  28,932 
Total debt 67,640  46,920  37,796  42,336  42,762 
Operating lease liability due within one year (included in Accounts payable and accrued liabilities) 1,168  1,211  —  —  — 
Long-term operating lease liability (included in Other long-term obligations) 3,994  4,482  —  —  — 
Total debt (including operating lease liability) 72,802  52,613  37,796  42,336  42,762 
Total ExxonMobil share of equity 157,150  191,650  191,794  187,688  167,325 
Total capital (including operating lease liability) 229,952  244,263  229,590  230,024  210,087 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.32 0.22 0.16 0.18 0.20
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Chevron Corp. 0.27 0.18 0.18 0.21 0.24
ConocoPhillips 0.35 0.31 0.32 0.39 0.44
Debt to Capital (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.30 0.21 0.19 0.22 0.25

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 72,802 ÷ 229,952 = 0.32

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Exxon Mobil Corp.’s debt to capital ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Assets

Exxon Mobil Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  20,578  17,258  17,930  13,830 
Long-term debt, excluding due within one year 47,182  26,342  20,538  24,406  28,932 
Total debt 67,640  46,920  37,796  42,336  42,762 
 
Total assets 332,750  362,597  346,196  348,691  330,314 
Solvency Ratio
Debt to assets1 0.20 0.13 0.11 0.12 0.13
Benchmarks
Debt to Assets, Competitors2
Chevron Corp. 0.18 0.11 0.14 0.15 0.18
ConocoPhillips 0.25 0.21 0.21 0.27 0.30
Debt to Assets, Sector
Oil, Gas & Consumable Fuels 0.20 0.13 0.13 0.15 0.17

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 67,640 ÷ 332,750 = 0.20

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Exxon Mobil Corp.’s debt to assets ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Debt to Assets (including Operating Lease Liability)

Exxon Mobil Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  20,578  17,258  17,930  13,830 
Long-term debt, excluding due within one year 47,182  26,342  20,538  24,406  28,932 
Total debt 67,640  46,920  37,796  42,336  42,762 
Operating lease liability due within one year (included in Accounts payable and accrued liabilities) 1,168  1,211  —  —  — 
Long-term operating lease liability (included in Other long-term obligations) 3,994  4,482  —  —  — 
Total debt (including operating lease liability) 72,802  52,613  37,796  42,336  42,762 
 
Total assets 332,750  362,597  346,196  348,691  330,314 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.22 0.15 0.11 0.12 0.13
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Chevron Corp. 0.20 0.13 0.14 0.15 0.18
ConocoPhillips 0.26 0.22 0.21 0.27 0.30
Debt to Assets (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels 0.22 0.15 0.13 0.15 0.17

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 72,802 ÷ 332,750 = 0.22

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Exxon Mobil Corp.’s debt to assets ratio (including operating lease liability) deteriorated from 2018 to 2019 and from 2019 to 2020.

Financial Leverage

Exxon Mobil Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Total assets 332,750  362,597  346,196  348,691  330,314 
Total ExxonMobil share of equity 157,150  191,650  191,794  187,688  167,325 
Solvency Ratio
Financial leverage1 2.12 1.89 1.81 1.86 1.97
Benchmarks
Financial Leverage, Competitors2
Chevron Corp. 1.82 1.65 1.64 1.71 1.79
ConocoPhillips 2.10 2.02 2.19 2.40 2.57
Financial Leverage, Sector
Oil, Gas & Consumable Fuels 1.99 1.81 1.77 1.84 1.96

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Financial leverage = Total assets ÷ Total ExxonMobil share of equity
= 332,750 ÷ 157,150 = 2.12

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Exxon Mobil Corp.’s financial leverage ratio increased from 2018 to 2019 and from 2019 to 2020.

Interest Coverage

Exxon Mobil Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income (loss) attributable to ExxonMobil (22,440) 14,340  20,840  19,710  7,840 
Add: Net income attributable to noncontrolling interest (811) 434  581  138  535 
Add: Income tax expense (5,632) 5,282  9,532  (1,174) (406)
Add: Interest expense 1,158  830  766  601  453 
Earnings before interest and tax (EBIT) (27,725) 20,886  31,719  19,275  8,422 
Solvency Ratio
Interest coverage1 -23.94 25.16 41.41 32.07 18.59
Benchmarks
Interest Coverage, Competitors2
Chevron Corp. -9.69 7.94 28.51 31.04 -9.75
ConocoPhillips -2.90 13.24 14.57 -1.38 -3.44
Interest Coverage, Sector
Oil, Gas & Consumable Fuels -13.84 15.60 28.35 13.60 1.15

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= -27,725 ÷ 1,158 = -23.94

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Exxon Mobil Corp.’s interest coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

Fixed Charge Coverage

Exxon Mobil Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income (loss) attributable to ExxonMobil (22,440) 14,340  20,840  19,710  7,840 
Add: Net income attributable to noncontrolling interest (811) 434  581  138  535 
Add: Income tax expense (5,632) 5,282  9,532  (1,174) (406)
Add: Interest expense 1,158  830  766  601  453 
Earnings before interest and tax (EBIT) (27,725) 20,886  31,719  19,275  8,422 
Add: Operating lease cost 3,166  3,476  2,715  2,618  3,091 
Earnings before fixed charges and tax (24,559) 24,362  34,434  21,893  11,513 
 
Interest expense 1,158  830  766  601  453 
Operating lease cost 3,166  3,476  2,715  2,618  3,091 
Fixed charges 4,324  4,306  3,481  3,219  3,544 
Solvency Ratio
Fixed charge coverage1 -5.68 5.66 9.89 6.80 3.25
Benchmarks
Fixed Charge Coverage, Competitors2
Chevron Corp. -1.29 2.62 14.12 9.93 -0.89
ConocoPhillips -1.79 9.51 11.09 -0.92 -2.10
Fixed Charge Coverage, Sector
Oil, Gas & Consumable Fuels -3.54 4.97 11.19 5.50 1.04

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= -24,559 ÷ 4,324 = -5.68

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Exxon Mobil Corp.’s fixed charge coverage ratio deteriorated from 2018 to 2019 and from 2019 to 2020.