Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Exxon Mobil Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 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).
The overall solvency profile demonstrates a sustained period of deleveraging and risk reduction from March 2022 through June 2026. There is a consistent downward trajectory across primary debt metrics, indicating a strategic shift toward a more conservative capital structure and enhanced long-term financial stability.
- Debt-to-Equity and Capital Structure
- A significant reduction in debt reliance is evident, with the debt-to-equity ratio declining from 0.28 in March 2022 to a low of 0.14 by March 2025, before settling at 0.16 by June 2026. This trend is mirrored in the debt-to-capital and debt-to-assets ratios, both of which reached their lowest points in early 2025. These movements indicate that the organization has increasingly funded its operations and assets through equity and retained earnings rather than borrowed capital.
- Financial Leverage
- Financial leverage followed a similar descending pattern, decreasing from 2.10 in March 2022 to 1.70 in June 2025. Although a slight uptick occurred in early 2026, peaking at 1.83, the ratio remained well below its initial levels. The general decrease in leverage suggests a reduced risk profile and a lower sensitivity to interest rate fluctuations and debt obligations.
- Interest Coverage and Debt Servicing
- The interest coverage ratio remained exceptionally high throughout the entire period, confirming a robust capacity to service interest expenses. The ratio peaked at 108.93 in March 2023, followed by a moderate decline to approximately 50.07 by December 2024, and a subsequent recovery to 59.52 by June 2026. Despite this volatility, the magnitude of the ratio indicates that operating earnings provide a substantial cushion for all interest payments, representing negligible default risk.
In summary, the financial data reflects a strengthening solvency position characterized by lower leverage and a high margin of safety regarding debt servicing. The convergence of declining debt ratios and a high interest coverage ratio underscores a highly stable financial foundation.
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Debt Ratios
Coverage Ratios
Debt to Equity
Exxon Mobil Corp., debt to equity calculation (quarterly data)
| Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Notes and loans payable | 10,139) | 14,531) | 9,296) | 9,212) | 5,419) | 4,728) | 4,955) | 5,632) | 6,621) | 8,227) | 4,090) | 4,743) | 3,929) | 2,296) | 634) | 6,182) | 7,367) | 4,886) | ||||||
| Long-term debt, excluding due within one year | 32,229) | 33,130) | 34,241) | 32,824) | 33,570) | 32,823) | 36,755) | 36,918) | 36,565) | 32,213) | 37,483) | 36,510) | 37,567) | 39,150) | 40,559) | 39,246) | 39,516) | 42,651) | ||||||
| Total debt | 42,368) | 47,661) | 43,537) | 42,036) | 38,989) | 37,551) | 41,710) | 42,550) | 43,186) | 40,440) | 41,573) | 41,253) | 41,496) | 41,446) | 41,193) | 45,428) | 46,883) | 47,537) | ||||||
| Total ExxonMobil share of equity | 259,380) | 254,381) | 259,386) | 260,561) | 262,593) | 262,720) | 263,705) | 268,592) | 268,405) | 205,250) | 204,802) | 199,703) | 199,046) | 198,685) | 195,049) | 186,100) | 177,316) | 169,215) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||
| Debt to equity1 | 0.16 | 0.19 | 0.17 | 0.16 | 0.15 | 0.14 | 0.16 | 0.16 | 0.16 | 0.20 | 0.20 | 0.21 | 0.21 | 0.21 | 0.21 | 0.24 | 0.26 | 0.28 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||
| Chevron Corp. | — | 0.25 | 0.22 | 0.22 | 0.20 | 0.20 | 0.16 | 0.17 | 0.15 | 0.14 | 0.13 | 0.12 | 0.14 | 0.15 | 0.15 | 0.15 | 0.17 | 0.20 | ||||||
| ConocoPhillips | — | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.38 | 0.37 | 0.37 | 0.37 | 0.38 | 0.40 | 0.35 | 0.35 | 0.35 | 0.35 | 0.34 | 0.38 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 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).
1 Q2 2026 Calculation
Debt to equity = Total debt ÷ Total ExxonMobil share of equity
= 42,368 ÷ 259,380 = 0.16
2 Click competitor name to see calculations.
The overall solvency profile of the organization demonstrates a significant improvement in the debt-to-equity position from March 2022 through June 2026. This improvement is characterized by a general reduction in leverage and a substantial expansion of the equity base, resulting in a reduced risk profile regarding long-term financial obligations.
- Total Debt Trends
- Debt levels exhibited a general downward trajectory for the first several years, decreasing from 47,537 million US$ in March 2022 to a low of 37,551 million US$ in March 2025. Although a temporary increase occurred, peaking at 47,661 million US$ by March 2026, the balance returned to 42,368 million US$ by June 2026, indicating a stabilized approach to long-term borrowing.
- Equity Growth
- Share equity showed a strong and steady upward trend, growing from 169,215 million US$ in March 2022 to 205,250 million US$ by March 2024. A significant capital increase was observed between March and June 2024, where equity surged to 268,405 million US$, subsequently maintaining a plateau above 254,000 million US$ through the remainder of the period.
- Debt to Equity Ratio Analysis
- The debt to equity ratio declined steadily from a peak of 0.28 in March 2022 to 0.20 by December 2023. The ratio experienced its most significant contraction in the second quarter of 2024, falling to 0.16. Despite a slight increase to 0.19 in March 2026 driven by a rise in total debt, the ratio concluded at 0.16 in June 2026, reflecting a considerably stronger solvency position than at the start of the analysis period.
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Debt to Capital
Exxon Mobil Corp., debt to capital calculation (quarterly data)
| Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Notes and loans payable | 10,139) | 14,531) | 9,296) | 9,212) | 5,419) | 4,728) | 4,955) | 5,632) | 6,621) | 8,227) | 4,090) | 4,743) | 3,929) | 2,296) | 634) | 6,182) | 7,367) | 4,886) | ||||||
| Long-term debt, excluding due within one year | 32,229) | 33,130) | 34,241) | 32,824) | 33,570) | 32,823) | 36,755) | 36,918) | 36,565) | 32,213) | 37,483) | 36,510) | 37,567) | 39,150) | 40,559) | 39,246) | 39,516) | 42,651) | ||||||
| Total debt | 42,368) | 47,661) | 43,537) | 42,036) | 38,989) | 37,551) | 41,710) | 42,550) | 43,186) | 40,440) | 41,573) | 41,253) | 41,496) | 41,446) | 41,193) | 45,428) | 46,883) | 47,537) | ||||||
| Total ExxonMobil share of equity | 259,380) | 254,381) | 259,386) | 260,561) | 262,593) | 262,720) | 263,705) | 268,592) | 268,405) | 205,250) | 204,802) | 199,703) | 199,046) | 198,685) | 195,049) | 186,100) | 177,316) | 169,215) | ||||||
| Total capital | 301,748) | 302,042) | 302,923) | 302,597) | 301,582) | 300,271) | 305,415) | 311,142) | 311,591) | 245,690) | 246,375) | 240,956) | 240,542) | 240,131) | 236,242) | 231,528) | 224,199) | 216,752) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||
| Debt to capital1 | 0.14 | 0.16 | 0.14 | 0.14 | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.16 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.20 | 0.21 | 0.22 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||
| Chevron Corp. | — | 0.20 | 0.18 | 0.18 | 0.17 | 0.17 | 0.14 | 0.14 | 0.13 | 0.12 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | 0.13 | 0.15 | 0.17 | ||||||
| ConocoPhillips | — | 0.27 | 0.27 | 0.27 | 0.26 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.28 | 0.29 | 0.26 | 0.26 | 0.26 | 0.26 | 0.25 | 0.28 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 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).
1 Q2 2026 Calculation
Debt to capital = Total debt ÷ Total capital
= 42,368 ÷ 301,748 = 0.14
2 Click competitor name to see calculations.
A consistent improvement in the solvency profile is evident from March 2022 through June 2026. The primary indicator, the debt to capital ratio, exhibited a sustained downward trajectory, decreasing from 0.22 to a low of 0.13 before stabilizing around 0.14. This trend indicates a strategic transition toward a less leveraged capital structure and an enhanced capacity to meet long-term obligations.
- Total Debt Dynamics
- Total debt decreased from a peak of 47,537 million USD in March 2022 to 41,193 million USD by December 2022. Debt levels remained relatively stable throughout 2023, fluctuating narrowly around 41,000 million USD. A period of increased volatility was observed between June 2024 and March 2026, during which debt peaked at 47,661 million USD, before retreating to 42,368 million USD by June 2026.
- Total Capital Expansion
- Total capital grew steadily from 216,752 million USD in March 2022 to 245,690 million USD by March 2024. A significant structural increase occurred in June 2024, where total capital rose to 311,591 million USD. This expanded capital base remained consistently above 300,000 million USD through the remainder of the period, substantially diluting the impact of total debt on the overall capital structure.
- Debt to Capital Ratio Interpretation
- The ratio declined from 0.22 in March 2022 to 0.17 by December 2022 and remained unchanged for the duration of 2023. The most notable compression of the ratio occurred between March 2024 (0.16) and June 2024 (0.14), directly correlating with the sharp increase in total capital. The solvency position reached its strongest point in the first half of 2025 with a ratio of 0.13. Despite a brief uptick to 0.16 in March 2026 due to rising debt, the ratio returned to 0.14 by June 2026, confirming a long-term reduction in financial leverage.
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Debt to Assets
Exxon Mobil Corp., debt to assets calculation (quarterly data)
| Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Notes and loans payable | 10,139) | 14,531) | 9,296) | 9,212) | 5,419) | 4,728) | 4,955) | 5,632) | 6,621) | 8,227) | 4,090) | 4,743) | 3,929) | 2,296) | 634) | 6,182) | 7,367) | 4,886) | ||||||
| Long-term debt, excluding due within one year | 32,229) | 33,130) | 34,241) | 32,824) | 33,570) | 32,823) | 36,755) | 36,918) | 36,565) | 32,213) | 37,483) | 36,510) | 37,567) | 39,150) | 40,559) | 39,246) | 39,516) | 42,651) | ||||||
| Total debt | 42,368) | 47,661) | 43,537) | 42,036) | 38,989) | 37,551) | 41,710) | 42,550) | 43,186) | 40,440) | 41,573) | 41,253) | 41,496) | 41,446) | 41,193) | 45,428) | 46,883) | 47,537) | ||||||
| Total assets | 464,482) | 464,410) | 448,980) | 454,340) | 447,597) | 451,908) | 453,475) | 461,916) | 460,707) | 377,918) | 376,317) | 372,259) | 363,248) | 369,371) | 369,067) | 370,152) | 367,774) | 354,771) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||
| Debt to assets1 | 0.09 | 0.10 | 0.10 | 0.09 | 0.09 | 0.08 | 0.09 | 0.09 | 0.09 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||
| Chevron Corp. | — | 0.14 | 0.13 | 0.13 | 0.12 | 0.12 | 0.10 | 0.10 | 0.09 | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.09 | 0.10 | 0.12 | ||||||
| ConocoPhillips | — | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 | 0.19 | 0.19 | 0.19 | 0.20 | 0.20 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.20 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 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).
1 Q2 2026 Calculation
Debt to assets = Total debt ÷ Total assets
= 42,368 ÷ 464,482 = 0.09
2 Click competitor name to see calculations.
The solvency profile demonstrates a consistent improvement in financial leverage from March 2022 through June 2026. This trend is characterized by a strategic reduction in total debt relative to a substantial expansion of the asset base, leading to a lower overall reliance on borrowed capital to fund operations and growth.
- Total Debt Trends
- Total debt exhibited a general downward trajectory for a significant portion of the observed period. Starting at 47,537 million USD in March 2022, debt levels decreased to a period low of 37,551 million USD by March 2025. Although a subsequent increase occurred in late 2025 and early 2026, peaking at 47,661 million USD in March 2026, the overall movement indicates a period of active deleveraging followed by a moderate recalibration of debt levels.
- Total Asset Growth
- Total assets showed a strong upward trend, increasing from 354,771 million USD in March 2022 to 464,482 million USD by June 2026. A significant inflection point is observed between March 2024 and June 2024, where assets rose abruptly from 377,918 million USD to 460,707 million USD. This substantial increase suggests a major capital investment or acquisition that fundamentally expanded the scale of the balance sheet.
- Debt to Assets Ratio Analysis
- The debt to assets ratio declined steadily from 0.13 in early 2022 to 0.09 by June 2026. The most pronounced reduction occurred in June 2024, directly correlating with the sharp increase in total assets. Throughout 2025 and 2026, the ratio remained stable, fluctuating minimally between 0.08 and 0.10, which reflects a strengthened solvency position and a reduced long-term financial risk profile.
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Financial Leverage
Exxon Mobil Corp., financial leverage calculation (quarterly data)
| Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Total assets | 464,482) | 464,410) | 448,980) | 454,340) | 447,597) | 451,908) | 453,475) | 461,916) | 460,707) | 377,918) | 376,317) | 372,259) | 363,248) | 369,371) | 369,067) | 370,152) | 367,774) | 354,771) | ||||||
| Total ExxonMobil share of equity | 259,380) | 254,381) | 259,386) | 260,561) | 262,593) | 262,720) | 263,705) | 268,592) | 268,405) | 205,250) | 204,802) | 199,703) | 199,046) | 198,685) | 195,049) | 186,100) | 177,316) | 169,215) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||
| Financial leverage1 | 1.79 | 1.83 | 1.73 | 1.74 | 1.70 | 1.72 | 1.72 | 1.72 | 1.72 | 1.84 | 1.84 | 1.86 | 1.82 | 1.86 | 1.89 | 1.99 | 2.07 | 2.10 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||
| Chevron Corp. | — | 1.79 | 1.74 | 1.72 | 1.71 | 1.72 | 1.69 | 1.66 | 1.64 | 1.63 | 1.63 | 1.60 | 1.59 | 1.60 | 1.62 | 1.64 | 1.68 | 1.70 | ||||||
| ConocoPhillips | — | 1.90 | 1.89 | 1.89 | 1.87 | 1.90 | 1.89 | 1.94 | 1.93 | 1.93 | 1.95 | 1.96 | 1.89 | 1.91 | 1.95 | 1.93 | 1.87 | 1.90 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 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).
1 Q2 2026 Calculation
Financial leverage = Total assets ÷ Total ExxonMobil share of equity
= 464,482 ÷ 259,380 = 1.79
2 Click competitor name to see calculations.
An analysis of the financial position from March 31, 2022, to June 30, 2026, reveals a consistent trend of deleveraging coupled with a significant expansion of the balance sheet. The overall capital structure has shifted toward a higher proportion of equity relative to total assets, enhancing the long-term solvency profile of the organization.
- Asset and Equity Growth
- Total assets exhibited a steady increase from 354,771 million USD in early 2022, reaching 377,918 million USD by March 31, 2024. A substantial increase occurred between March 31, 2024, and June 30, 2024, where assets rose to 460,707 million USD, representing a sharp expansion in the company's resource base. Total equity followed a similar trajectory, growing from 169,215 million USD in March 2022 to a peak of 268,592 million USD in June 2024. Following this peak, equity levels remained relatively stable, fluctuating between 254,381 million USD and 268,592 million USD through the end of the period.
- Financial Leverage Trajectory
- The financial leverage ratio demonstrated a sustained downward trend for the majority of the analyzed period. Starting at 2.10 in March 2022, the ratio declined steadily to 1.84 by March 2024. A notable reduction was recorded in June 2024, where the ratio dropped to 1.72. This indicates that the expansion of the balance sheet in mid-2024 was primarily financed through equity or a reduction in proportional liabilities, thereby reducing the company's reliance on borrowed funds.
- Capital Structure Stability
- From June 30, 2024, through June 30, 2026, the financial leverage ratio remained largely stabilized, oscillating within a narrow range between 1.70 and 1.83. The lowest leverage point was observed on June 30, 2025, at 1.70. The slight increase to 1.83 by March 31, 2026, suggests a minor recalibration of the debt-to-equity balance, though the overall solvency position remains significantly stronger than the levels observed in 2022.
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Interest Coverage
Exxon Mobil Corp., interest coverage calculation (quarterly data)
| Jun 30, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Net income attributable to ExxonMobil | 14,525) | 4,183) | 6,501) | 7,548) | 7,082) | 7,713) | 7,610) | 8,610) | 9,240) | 8,220) | 7,630) | 9,070) | 7,880) | 11,430) | 9,750) | 19,660) | 17,850) | 5,480) | ||||||
| Add: Net income attributable to noncontrolling interest | 356) | 289) | 108) | 220) | 272) | 320) | 345) | 361) | 331) | 346) | 382) | 276) | 273) | 413) | 305) | 538) | 724) | 270) | ||||||
| Add: Income tax expense | 4,543) | 2,495) | 1,422) | 3,164) | 3,351) | 3,567) | 1,858) | 4,055) | 4,094) | 3,803) | 2,613) | 4,353) | 3,503) | 4,960) | 5,787) | 5,224) | 6,359) | 2,806) | ||||||
| Add: Interest expense | 227) | 295) | 163) | 90) | 145) | 205) | 297) | 207) | 271) | 221) | 272) | 169) | 249) | 159) | 207) | 209) | 194) | 188) | ||||||
| Earnings before interest and tax (EBIT) | 19,651) | 7,262) | 8,194) | 11,022) | 10,850) | 11,805) | 10,110) | 13,233) | 13,936) | 12,590) | 10,897) | 13,868) | 11,905) | 16,962) | 16,049) | 25,631) | 25,127) | 8,744) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||
| Interest coverage1 | 59.52 | 53.86 | 69.44 | 59.41 | 53.86 | 50.09 | 50.07 | 52.17 | 54.97 | 54.07 | 63.17 | 74.98 | 85.62 | 108.93 | 94.68 | 88.00 | 68.10 | 42.27 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||
| Chevron Corp. | — | 14.41 | 17.22 | 21.10 | 27.24 | 37.58 | 47.31 | 49.42 | 59.46 | 60.29 | 64.08 | 77.06 | 87.36 | 102.29 | 97.27 | 86.49 | 68.50 | 44.87 | ||||||
| ConocoPhillips | — | 14.62 | 15.80 | 16.72 | 17.75 | 19.30 | 18.46 | 19.45 | 20.40 | 20.49 | 21.88 | 24.35 | 28.69 | 33.08 | 36.07 | 33.30 | 28.10 | 22.60 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 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).
1 Q2 2026 Calculation
Interest coverage
= (EBITQ2 2026
+ EBITQ1 2026
+ EBITQ4 2025
+ EBITQ3 2025)
÷ (Interest expenseQ2 2026
+ Interest expenseQ1 2026
+ Interest expenseQ4 2025
+ Interest expenseQ3 2025)
= (19,651 + 7,262 + 8,194 + 11,022)
÷ (227 + 295 + 163 + 90)
= 59.52
2 Click competitor name to see calculations.
The analysis of solvency metrics indicates a robust capacity to meet interest obligations, characterized by an interest coverage ratio that consistently remains at levels far exceeding the standard thresholds for financial stability. While the ratio exhibits significant volatility, the fluctuations are primarily driven by variance in operating earnings rather than systemic changes in debt servicing costs.
- Earnings Before Interest and Tax (EBIT) Trends
- A period of significant expansion was observed in 2022, with earnings peaking at 25.63 billion US dollars in September 2022. This was followed by a general downward trajectory, reaching a low of 7.26 billion US dollars in March 2026, before a sharp recovery to 19.65 billion US dollars in June 2026. This pattern suggests substantial sensitivity of operational income to market cycles.
- Interest Expense Dynamics
- Interest expenses remained relatively contained throughout the observed period, fluctuating between a minimum of 90 million US dollars in September 2025 and a maximum of 297 million US dollars in December 2024. The stability of these obligations relative to the scale of operational earnings ensures that debt servicing does not pose a critical risk to liquidity.
- Interest Coverage Ratio Performance
- The coverage ratio experienced a sharp increase from 42.27 in March 2022 to a peak of 108.93 in March 2023, directly correlating with the surge in EBIT. A subsequent corrective phase saw the ratio decline to a floor of approximately 50.07 by December 2024. Recent figures indicate a period of stabilization and slight recovery, concluding the period at 59.52 in June 2026. The sustained high value of this ratio indicates a substantial margin of safety for the organization.
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