Long-term Debt and Solvency Analysis
Quarterly Data

Difficulty: Beginner


Ratios (Summary)

Exxon Mobil Corp., debt and solvency ratios (quarterly data)

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Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
Debt to equity 0.22 0.22 0.23 0.22 0.23 0.25 0.26 0.27 0.26 0.25 0.23 0.20 0.20 0.19 0.17 0.12 0.12 0.12 0.13 0.13 0.12 0.08
Debt to capital 0.18 0.18 0.18 0.18 0.19 0.20 0.20 0.21 0.21 0.20 0.18 0.17 0.16 0.16 0.14 0.11 0.11 0.11 0.12 0.11 0.10 0.07
Interest coverage 35.49 31.34 32.07 27.68 24.00 24.29 18.59 32.38 44.11 57.87 71.63 89.34 109.94 140.73 181.52 872.27 1,943.77 1,116.69 6,413.33
Source: Based on data from Exxon Mobil Corp. Quarterly and Annual Reports
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 improved from Q4 2017 to Q1 2018 but then slightly deteriorated from Q1 2018 to Q2 2018.
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 improved from Q4 2017 to Q1 2018 but then slightly deteriorated from Q1 2018 to Q2 2018.
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Exxon Mobil Corp.'s interest coverage ratio deteriorated from Q4 2017 to Q1 2018 but then improved from Q1 2018 to Q2 2018 exceeding Q4 2017 level.

Debt to Equity

Exxon Mobil Corp., debt to equity calculation (quarterly data)

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Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
Selected Financial Data (USD $ in millions)
Notes and loans payable 20,500  19,836  17,930  15,741  17,185  18,483  13,830  17,239  14,972  13,540  18,762  14,473  14,409  13,277  17,468  10,243  9,948  9,223  15,808  13,889  11,861  5,937 
Long-term debt, excluding due within one year 20,720  20,781  24,406  24,869  24,750  25,124  28,932  28,916  29,499  29,568  19,925  19,839  19,431  19,494  11,653  11,591  11,817  12,144  6,891  7,404  7,496  7,475 
Total debt 41,220  40,617  42,336  40,610  41,935  43,607  42,762  46,155  44,471  43,108  38,687  34,312  33,840  32,771  29,121  21,834  21,765  21,367  22,699  21,293  19,357  13,412 
Total ExxonMobil share of equity 187,222  188,195  187,688  182,276  179,178  177,151  167,325  170,597  170,591  172,187  170,811  170,723  172,668  171,227  174,399  180,587  181,155  176,398  174,003  169,245  165,647  167,001 
Ratio
Debt to equity1 0.22 0.22 0.23 0.22 0.23 0.25 0.26 0.27 0.26 0.25 0.23 0.20 0.20 0.19 0.17 0.12 0.12 0.12 0.13 0.13 0.12 0.08
Source: Based on data from Exxon Mobil Corp. Quarterly and Annual Reports

Q2 2018 Calculations

1 Debt to equity = Total debt ÷ Total ExxonMobil share of equity
= 41,220 ÷ 187,222 = 0.22

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 improved from Q4 2017 to Q1 2018 but then slightly deteriorated from Q1 2018 to Q2 2018.

Debt to Capital

Exxon Mobil Corp., debt to capital calculation (quarterly data)

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Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
Selected Financial Data (USD $ in millions)
Notes and loans payable 20,500  19,836  17,930  15,741  17,185  18,483  13,830  17,239  14,972  13,540  18,762  14,473  14,409  13,277  17,468  10,243  9,948  9,223  15,808  13,889  11,861  5,937 
Long-term debt, excluding due within one year 20,720  20,781  24,406  24,869  24,750  25,124  28,932  28,916  29,499  29,568  19,925  19,839  19,431  19,494  11,653  11,591  11,817  12,144  6,891  7,404  7,496  7,475 
Total debt 41,220  40,617  42,336  40,610  41,935  43,607  42,762  46,155  44,471  43,108  38,687  34,312  33,840  32,771  29,121  21,834  21,765  21,367  22,699  21,293  19,357  13,412 
Total ExxonMobil share of equity 187,222  188,195  187,688  182,276  179,178  177,151  167,325  170,597  170,591  172,187  170,811  170,723  172,668  171,227  174,399  180,587  181,155  176,398  174,003  169,245  165,647  167,001 
Total capital 228,442  228,812  230,024  222,886  221,113  220,758  210,087  216,752  215,062  215,295  209,498  205,035  206,508  203,998  203,520  202,421  202,920  197,765  196,702  190,538  185,004  180,413 
Ratio
Debt to capital1 0.18 0.18 0.18 0.18 0.19 0.20 0.20 0.21 0.21 0.20 0.18 0.17 0.16 0.16 0.14 0.11 0.11 0.11 0.12 0.11 0.10 0.07
Source: Based on data from Exxon Mobil Corp. Quarterly and Annual Reports

Q2 2018 Calculations

1 Debt to capital = Total debt ÷ Total capital
= 41,220 ÷ 228,442 = 0.18

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 improved from Q4 2017 to Q1 2018 but then slightly deteriorated from Q1 2018 to Q2 2018.

Interest Coverage

Exxon Mobil Corp., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
Selected Financial Data (USD $ in millions)
Net income attributable to ExxonMobil 3,950  4,650  8,380  3,970  3,350  4,010  1,680  2,650  1,700  1,810  2,780  4,240  4,190  4,940  6,570  8,070  8,780  9,100  8,350  7,870  6,860  9,500 
Add: Net income attributable to noncontrolling interest 36  133  29  115  (86) 80  344  239  (19) (29) 50  144  72  135  212  276  337  270  293  199  115  261 
Add: Income tax expense 2,526  2,457  (5,392) 1,498  892  1,828  (1,407) 337  715  (51) (202) 1,365  2,692  1,560  2,060  5,064  5,034  5,857  6,073  6,120  5,793  6,277 
Add: Interest expense 147  204  186  111  158  146  195  106  75  77  60  78  85  88  68  88  64  66  (152) 52  85  24 
Earnings before interest and tax (EBIT) 6,659  7,444  3,203  5,694  4,314  6,064  812  3,332  2,471  1,807  2,688  5,827  7,039  6,723  8,910  13,498  14,215  15,293  14,564  14,241  12,853  16,062 
Ratio
Interest coverage1 35.49 31.34 32.07 27.68 24.00 24.29 18.59 32.38 44.11 57.87 71.63 89.34 109.94 140.73 181.52 872.27 1,943.77 1,116.69 6,413.33
Source: Based on data from Exxon Mobil Corp. Quarterly and Annual Reports

Q2 2018 Calculations

1 Interest coverage = (EBITQ2 2018 + EBITQ1 2018 + EBITQ4 2017 + EBITQ3 2017) ÷ (Interest expenseQ2 2018 + Interest expenseQ1 2018 + Interest expenseQ4 2017 + Interest expenseQ3 2017)
= (6,659 + 7,444 + 3,203 + 5,694) ÷ (147 + 204 + 186 + 111) = 35.49

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 Q4 2017 to Q1 2018 but then improved from Q1 2018 to Q2 2018 exceeding Q4 2017 level.