Enterprise Value (EV)
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Exxon Mobil Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Current Enterprise Value (EV)
Exxon Mobil Corp., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Notes and loans payable (per books) | |
| Add: Long-term debt, excluding due within one year (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2025-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Exxon Mobil Corp., EV calculation
Based on: 10-K (reporting date: 2025-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Exxon Mobil Corp. Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The information presents a five-year trend of several financial metrics related to enterprise valuation. Over the period, a general upward trajectory is observed in most metrics, though with some fluctuations. Enterprise value (EV) demonstrates a consistent increase, mirroring the growth in total equity and total equity plus debt.
- Common Equity (Market Value)
- Common equity experienced substantial growth from 2021 to 2022, increasing from US$325,013 million to US$446,709 million. A subsequent decrease was noted in 2023 to US$413,926 million, followed by recovery in 2024 to US$478,608 million, and further significant growth in 2025 reaching US$627,848 million. This indicates a volatile, but ultimately positive, trend in market capitalization.
- Total Equity
- Total equity followed a similar pattern to common equity, rising from US$332,119 million in 2021 to US$454,133 million in 2022. A decline to US$421,662 million occurred in 2023, before increasing to US$485,509 million in 2024 and reaching US$635,088 million in 2025. The fluctuations suggest potential impacts from earnings retention, share repurchases, or other equity-related activities.
- Total Equity and Debt
- The combined value of total equity and debt increased steadily over the five-year period, moving from US$379,823 million in 2021 to US$678,625 million in 2025. The growth was not linear, with a slower increase observed between 2022 and 2023 (US$495,326 million to US$463,235 million). This suggests a potential shift in capital structure or debt management strategies during that period.
- Enterprise Value (EV)
- Enterprise value exhibited a consistent upward trend, increasing from US$373,021 million in 2021 to US$667,944 million in 2025. Similar to other metrics, a slight decrease was observed between 2022 and 2023 (US$465,686 million to US$431,696 million), but the overall trend remains positive. The EV closely tracks the combined value of equity and debt, as expected.
In summary, the financial metrics demonstrate a general trend of growth over the observed period. While some fluctuations occurred, particularly between 2022 and 2023, the overall direction indicates increasing value and potentially expanding financial leverage.