Stock Analysis on Net
Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.


Solvency Ratios (Summary)

Exxon Mobil Corp., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 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
Debt Ratios
Debt to equity 0.43 0.39 0.39 0.33 0.24 0.25 0.24 0.21 0.20 0.21 0.22 0.22 0.23 0.22 0.23 0.25 0.26 0.27 0.26 0.25
Debt to capital 0.30 0.28 0.28 0.25 0.20 0.20 0.19 0.18 0.16 0.17 0.18 0.18 0.18 0.18 0.19 0.20 0.20 0.21 0.21 0.20
Debt to assets 0.20 0.19 0.19 0.17 0.13 0.13 0.13 0.11 0.11 0.11 0.12 0.12 0.12 0.12 0.12 0.13 0.13 0.14 0.13 0.13
Financial leverage 2.12 2.02 2.01 1.95 1.89 1.89 1.88 1.86 1.81 1.86 1.86 1.85 1.86 1.92 1.91 1.94 1.97 1.99 2.01 1.99
Coverage Ratios
Interest coverage -23.94 4.96 10.25 18.27 25.16 26.79 33.17 38.69 41.41 36.07 35.49 31.34 32.07 27.68 24.00 24.29 18.59

Based on: 10-K (filing date: 2021-02-24), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Exxon Mobil Corp.’s debt to assets ratio improved from Q2 2020 to Q3 2020 but then deteriorated significantly from Q3 2020 to Q4 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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Equity

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 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
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  21,911  22,952  27,755  20,578  21,196  26,195  21,794  17,258  19,413  20,500  19,836  17,930  15,741  17,185  18,483  13,830  17,239  14,972  13,540 
Long-term debt, excluding due within one year 47,182  46,888  46,563  31,857  26,342  25,950  19,001  19,031  20,538  20,624  20,720  20,781  24,406  24,869  24,750  25,124  28,932  28,916  29,499  29,568 
Total debt 67,640  68,799  69,515  59,612  46,920  47,146  45,196  40,825  37,796  40,037  41,220  40,617  42,336  40,610  41,935  43,607  42,762  46,155  44,471  43,108 
 
Total ExxonMobil share of equity 157,150  177,400  180,183  182,079  191,650  189,915  191,377  191,222  191,794  190,365  187,222  188,195  187,688  182,276  179,178  177,151  167,325  170,597  170,591  172,187 
Solvency Ratio
Debt to equity1 0.43 0.39 0.39 0.33 0.24 0.25 0.24 0.21 0.20 0.21 0.22 0.22 0.23 0.22 0.23 0.25 0.26 0.27 0.26 0.25
Benchmarks
Debt to Equity, Competitors2
Chevron Corp. 0.34 0.26 0.25 0.22 0.19 0.21 0.20 0.21 0.22 0.24 0.25 0.26 0.26 0.29 0.29 0.31 0.32 0.31 0.31 0.28

Based on: 10-K (filing date: 2021-02-24), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q4 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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Capital

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 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
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  21,911  22,952  27,755  20,578  21,196  26,195  21,794  17,258  19,413  20,500  19,836  17,930  15,741  17,185  18,483  13,830  17,239  14,972  13,540 
Long-term debt, excluding due within one year 47,182  46,888  46,563  31,857  26,342  25,950  19,001  19,031  20,538  20,624  20,720  20,781  24,406  24,869  24,750  25,124  28,932  28,916  29,499  29,568 
Total debt 67,640  68,799  69,515  59,612  46,920  47,146  45,196  40,825  37,796  40,037  41,220  40,617  42,336  40,610  41,935  43,607  42,762  46,155  44,471  43,108 
Total ExxonMobil share of equity 157,150  177,400  180,183  182,079  191,650  189,915  191,377  191,222  191,794  190,365  187,222  188,195  187,688  182,276  179,178  177,151  167,325  170,597  170,591  172,187 
Total capital 224,790  246,199  249,698  241,691  238,570  237,061  236,573  232,047  229,590  230,402  228,442  228,812  230,024  222,886  221,113  220,758  210,087  216,752  215,062  215,295 
Solvency Ratio
Debt to capital1 0.30 0.28 0.28 0.25 0.20 0.20 0.19 0.18 0.16 0.17 0.18 0.18 0.18 0.18 0.19 0.20 0.20 0.21 0.21 0.20
Benchmarks
Debt to Capital, Competitors2
Chevron Corp. 0.25 0.21 0.20 0.18 0.16 0.17 0.16 0.18 0.18 0.19 0.20 0.21 0.21 0.22 0.23 0.24 0.24 0.24 0.23 0.22

Based on: 10-K (filing date: 2021-02-24), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q4 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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Assets

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 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
Selected Financial Data (US$ in millions)
Notes and loans payable 20,458  21,911  22,952  27,755  20,578  21,196  26,195  21,794  17,258  19,413  20,500  19,836  17,930  15,741  17,185  18,483  13,830  17,239  14,972  13,540 
Long-term debt, excluding due within one year 47,182  46,888  46,563  31,857  26,342  25,950  19,001  19,031  20,538  20,624  20,720  20,781  24,406  24,869  24,750  25,124  28,932  28,916  29,499  29,568 
Total debt 67,640  68,799  69,515  59,612  46,920  47,146  45,196  40,825  37,796  40,037  41,220  40,617  42,336  40,610  41,935  43,607  42,762  46,155  44,471  43,108 
 
Total assets 332,750  358,043  361,495  355,804  362,597  359,361  360,729  356,189  346,196  354,628  348,790  348,826  348,691  349,427  343,012  344,209  330,314  339,386  342,473  342,789 
Solvency Ratio
Debt to assets1 0.20 0.19 0.19 0.17 0.13 0.13 0.13 0.11 0.11 0.11 0.12 0.12 0.12 0.12 0.12 0.13 0.13 0.14 0.13 0.13
Benchmarks
Debt to Assets, Competitors2
Chevron Corp. 0.18 0.16 0.15 0.14 0.11 0.13 0.12 0.13 0.14 0.14 0.15 0.15 0.15 0.16 0.17 0.17 0.18 0.18 0.17 0.16

Based on: 10-K (filing date: 2021-02-24), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q4 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 improved from Q2 2020 to Q3 2020 but then deteriorated significantly from Q3 2020 to Q4 2020.

Financial Leverage

Exxon Mobil Corp., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 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
Selected Financial Data (US$ in millions)
Total assets 332,750  358,043  361,495  355,804  362,597  359,361  360,729  356,189  346,196  354,628  348,790  348,826  348,691  349,427  343,012  344,209  330,314  339,386  342,473  342,789 
Total ExxonMobil share of equity 157,150  177,400  180,183  182,079  191,650  189,915  191,377  191,222  191,794  190,365  187,222  188,195  187,688  182,276  179,178  177,151  167,325  170,597  170,591  172,187 
Solvency Ratio
Financial leverage1 2.12 2.02 2.01 1.95 1.89 1.89 1.88 1.86 1.81 1.86 1.86 1.85 1.86 1.92 1.91 1.94 1.97 1.99 2.01 1.99
Benchmarks
Financial Leverage, Competitors2
Chevron Corp. 1.82 1.69 1.67 1.64 1.65 1.65 1.64 1.66 1.64 1.67 1.69 1.71 1.71 1.74 1.74 1.77 1.79 1.77 1.78 1.76

Based on: 10-K (filing date: 2021-02-24), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q4 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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Interest Coverage

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 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
Selected Financial Data (US$ in millions)
Net income (loss) attributable to ExxonMobil (20,070) (680) (1,080) (610) 5,690  3,170  3,130  2,350  6,000  6,240  3,950  4,650  8,380  3,970  3,350  4,010  1,680  2,650  1,700  1,810 
Add: Net income attributable to noncontrolling interest (533) (29) (89) (160) 40  77  261  56  206  206  36  133  29  115  (86) 80  344  239  (19) (29)
Add: Income tax expense (6,010) 337  (471) 512  684  1,474  1,241  1,883  1,915  2,634  2,526  2,457  (5,392) 1,498  892  1,828  (1,407) 337  715  (51)
Add: Interest expense 313  279  317  249  201  232  216  181  215  200  147  204  186  111  158  146  195  106  75  77 
Earnings before interest and tax (EBIT) (26,300) (93) (1,323) (9) 6,615  4,953  4,848  4,470  8,336  9,280  6,659  7,444  3,203  5,694  4,314  6,064  812  3,332  2,471  1,807 
Solvency Ratio
Interest coverage1 -23.94 4.96 10.25 18.27 25.16 26.79 33.17 38.69 41.41 36.07 35.49 31.34 32.07 27.68 24.00 24.29 18.59
Benchmarks
Interest Coverage, Competitors2
Chevron Corp. -9.69 -21.04 -14.24 8.79 7.94 24.26 26.77 24.91 28.51 24.47 25.17 27.90 31.04 43.98 31.33 11.63 -9.75

Based on: 10-K (filing date: 2021-02-24), 10-Q (filing date: 2020-11-04), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-01), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-04).

1 Q4 2020 Calculation
Interest coverage = (EBITQ4 2020 + EBITQ3 2020 + EBITQ2 2020 + EBITQ1 2020) ÷ (Interest expenseQ4 2020 + Interest expenseQ3 2020 + Interest expenseQ2 2020 + Interest expenseQ1 2020)
= (-26,300 + -93 + -1,323 + -9) ÷ (313 + 279 + 317 + 249) = -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 Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.