Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Exxon Mobil Corp., historical price multiples (quarterly data)
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
- Price to Earnings (P/E) Ratio
- The P/E ratio shows an initial presence starting from March 2022 with a value of 14.11 and experiences a decline through December 2022, reaching a low of 8.7. Subsequently, there is a gradual upward trend from early 2023, peaking at 16.02 by the third quarter of 2025. This pattern indicates a period of relatively lower market valuation per earnings at the end of 2022, followed by increased investor expectations or improved earnings prospects in the later periods.
- Price to Operating Profit (P/OP) Ratio
- This ratio mirrors the P/E trend with values commencing in March 2022 at 9.86, dipping to a trough of 5.28 by June 2023. After this low point, the ratio rises steadily, reaching 10.87 by September 2025. The initial decline suggests diminishing market valuation relative to operating profit during 2022 and early 2023, while the recovery implies an enhancement in perceived profitability or operational efficiency over time.
- Price to Sales (P/S) Ratio
- The P/S ratio starts at 1.43 in March 2021, decreases to 1.08 by June 2022, and then gradually increases thereafter, climbing to 1.53 by the third quarter of 2024 before experiencing a slight decline towards mid-2025. This reflects fluctuating sales valuation, with a low point in mid-2022, possibly due to sales challenges or market conditions, followed by improved sales performance or investor sentiment in subsequent periods.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio begins at 1.64 in the first quarter of 2021 and trends upward to a peak of 2.43 in September 2022. After this peak, the ratio gradually decreases to 1.69 in the third quarter of 2025. This suggests an increasing valuation relative to book value until late 2022, potentially reflecting optimistic asset valuations or growth expectations, followed by a normalization or revaluation phase in later years.
Price to Earnings (P/E)
Exxon Mobil Corp., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 4,217,165,614 | 4,263,247,021 | 4,309,638,821 | 4,339,143,313 | 4,395,094,536 | 4,442,826,580 | 3,943,006,866 | 3,967,844,307 | 3,962,917,886 | 4,003,192,787 | 4,042,984,946 | 4,070,984,988 | 4,118,293,421 | 4,167,636,295 | 4,212,543,236 | 4,233,592,429 | 4,233,566,839 | 4,233,562,917 | 4,233,538,917 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (loss) attributable to ExxonMobil (in millions) | 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) | 8,870) | 6,750) | 4,690) | 2,730) | ||||||
| Earnings per share (EPS)2 | 7.10 | 7.27 | 7.70 | 7.76 | 7.67 | 7.69 | 8.32 | 9.08 | 9.62 | 12.17 | 14.52 | 12.96 | 12.59 | 9.35 | 6.12 | 5.44 | -1.39 | -3.15 | -4.51 | ||||||
| Share price1, 3 | 113.76 | 107.37 | 103.27 | 110.30 | 118.61 | 114.77 | 119.64 | 104.32 | 105.85 | 106.62 | 110.10 | 109.73 | 109.61 | 91.02 | 91.70 | 76.77 | 63.93 | 56.84 | 60.97 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | 16.02 | 14.76 | 13.42 | 14.21 | 15.47 | 14.93 | 14.38 | 11.49 | 11.00 | 8.76 | 7.58 | 8.47 | 8.70 | 9.74 | 14.98 | 14.11 | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | 24.12 | 19.30 | 15.28 | 15.64 | 16.89 | 13.91 | 14.63 | 13.42 | 11.03 | 9.88 | 8.27 | 8.71 | 10.25 | 10.19 | 16.06 | 16.81 | 22.09 | 54.58 | — | ||||||
| ConocoPhillips | 11.96 | 12.59 | 11.75 | 13.41 | 12.68 | 11.78 | 13.50 | 11.92 | 12.94 | 10.65 | 7.44 | 7.07 | 9.23 | 7.19 | 10.35 | 14.66 | 20.66 | 40.48 | 3,758.13 | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (Net income (loss) attributable to ExxonMobilQ3 2025
+ Net income (loss) attributable to ExxonMobilQ2 2025
+ Net income (loss) attributable to ExxonMobilQ1 2025
+ Net income (loss) attributable to ExxonMobilQ4 2024)
÷ No. shares of common stock outstanding
= (7,548,000,000 + 7,082,000,000 + 7,713,000,000 + 7,610,000,000)
÷ 4,217,165,614 = 7.10
3 Closing price as at the filing date of Exxon Mobil Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= 113.76 ÷ 7.10 = 16.02
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited a general upward trend from the first quarter of 2021 through 2025, starting at approximately $60.97 in March 2021 and reaching levels above $110 by March 2023. There was notable growth between mid-2021 and the end of 2022, peaking at around $119.64 in March 2024. Following this peak, the share price showed some volatility with fluctuations downward to about $103.27 in March 2025 but later rebounded to $113.76 by September 2025, demonstrating resilience despite the interim declines.
- Earnings Per Share (EPS) Performance
- The EPS figures showed a marked improvement over the period. Negative EPS values were recorded through most of 2021, with the lowest point in March 2021 at -$4.51. A significant turnaround is observed starting in December 2021, when the EPS became positive at $5.44, and consistently increased through 2022, peaking at $14.52 in the first quarter of 2023. Subsequently, EPS values gradually declined but remained positive and relatively stable between approximately $7.1 and $9.08 from 2023 into 2025, indicating sustained profitability after the initial recovery.
- Price-to-Earnings (P/E) Ratio Analysis
- The P/E ratio data, available from December 2021 onward, reveals a declining trend from about 14.11 to a low near 7.58 in the first quarter of 2023. This decline corresponds with the substantial increase in EPS, reflecting an expanding earnings base relative to share price. However, from mid-2023, the P/E ratio began to rise steadily, reaching a maximum of approximately 16.02 by September 2025. This upward trend suggests either a valuation premium being placed on the stock or a relative stabilization or slight decline in earnings growth compared to the share price.
- Integrated Insights
- The company’s transition from negative to strong positive earnings signifies significant operational improvement or favorable market conditions impacting profitability. The initial low P/E ratios during peak EPS growth imply undervaluation or cautious investor sentiment that gradually shifted to higher valuation multiples in later periods. Share price movements generally mirrored EPS trends with some lag and volatility, suggesting that the market response balanced between earnings growth and other external factors influencing investor confidence. Overall, the financial data indicates a recovery phase followed by a stabilization period characterized by sustained profitability and fluctuating valuation levels.
Price to Operating Profit (P/OP)
Exxon Mobil Corp., historical P/OP calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 4,217,165,614 | 4,263,247,021 | 4,309,638,821 | 4,339,143,313 | 4,395,094,536 | 4,442,826,580 | 3,943,006,866 | 3,967,844,307 | 3,962,917,886 | 4,003,192,787 | 4,042,984,946 | 4,070,984,988 | 4,118,293,421 | 4,167,636,295 | 4,212,543,236 | 4,233,592,429 | 4,233,566,839 | 4,233,562,917 | 4,233,538,917 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Operating income (loss) (in millions) | 11,141) | 10,940) | 11,918) | 10,141) | 13,266) | 13,970) | 12,613) | 11,114) | 14,034) | 12,069) | 17,129) | 16,149) | 25,785) | 25,247) | 8,852) | 12,050) | 9,966) | 6,723) | 4,228) | ||||||
| Operating profit per share2 | 10.47 | 10.85 | 11.44 | 11.52 | 11.60 | 11.64 | 12.64 | 13.70 | 14.98 | 17.77 | 20.85 | 18.68 | 17.47 | 13.46 | 8.92 | 7.79 | -1.18 | -3.49 | -5.33 | ||||||
| Share price1, 3 | 113.76 | 107.37 | 103.27 | 110.30 | 118.61 | 114.77 | 119.64 | 104.32 | 105.85 | 106.62 | 110.10 | 109.73 | 109.61 | 91.02 | 91.70 | 76.77 | 63.93 | 56.84 | 60.97 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | 10.87 | 9.89 | 9.03 | 9.57 | 10.23 | 9.86 | 9.47 | 7.62 | 7.06 | 6.00 | 5.28 | 5.88 | 6.28 | 6.76 | 10.28 | 9.86 | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | 13.70 | 11.35 | 9.20 | 9.76 | 10.99 | 9.34 | 10.35 | 9.48 | 7.68 | 6.97 | 5.81 | 6.12 | 7.34 | 7.23 | 11.13 | 11.40 | 14.10 | 26.00 | — | ||||||
| ConocoPhillips | 7.33 | 7.88 | 7.33 | 8.50 | 7.96 | 7.49 | 8.70 | 7.61 | 8.04 | 6.49 | 4.60 | 4.57 | 5.96 | 4.72 | 6.75 | 8.66 | 11.68 | 17.96 | 71.79 | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024)
÷ No. shares of common stock outstanding
= (11,141,000,000 + 10,940,000,000 + 11,918,000,000 + 10,141,000,000)
÷ 4,217,165,614 = 10.47
3 Closing price as at the filing date of Exxon Mobil Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 113.76 ÷ 10.47 = 10.87
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals notable trends in the share price, operating profit per share, and the price-to-operating profit (P/OP) ratio over the observed periods.
- Share Price
- The share price demonstrated an overall upward trajectory from early 2021 through the end of 2024, starting at approximately $60.97 and peaking near $119.64. This represents nearly a doubling in value over this interval. In 2023 and into early 2024, the share price maintained relative stability around the $105 to $119 range before experiencing moderate fluctuations between $103 and $114 in 2025. Despite these fluctuations, the share price remained significantly higher than the initial 2021 level, indicating sustained investor confidence or positive market sentiment during these years.
- Operating Profit per Share
- Operating profit per share exhibited a strong recovery beginning in 2021, moving from negative values early in the year (down to -$5.33) to consistent positive growth from the fourth quarter of 2021 onward. This upward trend peaked in the first quarter of 2023 at $20.85. Following this peak, there was a gradual decline throughout 2023 and into 2025, with values ranging from $17.77 down to approximately $10.47 by the end of the observed period. Despite the decline from the peak, operating profit per share levels in 2025 remained substantially higher than the negative and low levels recorded in 2021, signifying improved operational efficiency or profitability over the medium term.
- Price-to-Operating Profit Ratio (P/OP)
- The P/OP ratio was not reported until the first quarter of 2022, where it started at 9.86. The ratio decreased steadily to a low of 5.28 by the second quarter of 2023, suggesting that the share price growth was outpaced by the increase in operating profit per share during the early part of the recovery. After reaching this trough, the ratio rose again, peaking around 10.87 by the third quarter of 2025. This increase implies that the stock price was rising or holding relatively steady despite the declining operating profit per share, potentially reflecting market expectations of future performance or other factors influencing valuation.
In summary, the data reflects a period of recovery and strength in operating profitability after a challenging start in 2021, which contributed to rising share prices. The P/OP ratio's fluctuations suggest changing market valuation dynamics, with investors initially rewarding increasing profits more favorably and later pricing in different growth or risk expectations. The moderate decline in operating profit after 2023 combined with stabilizing or slightly fluctuating share prices indicates a potential shift in market perception or operational conditions in the most recent periods.
Price to Sales (P/S)
Exxon Mobil Corp., historical P/S calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 4,217,165,614 | 4,263,247,021 | 4,309,638,821 | 4,339,143,313 | 4,395,094,536 | 4,442,826,580 | 3,943,006,866 | 3,967,844,307 | 3,962,917,886 | 4,003,192,787 | 4,042,984,946 | 4,070,984,988 | 4,118,293,421 | 4,167,636,295 | 4,212,543,236 | 4,233,592,429 | 4,233,566,839 | 4,233,562,917 | 4,233,538,917 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Sales and other operating revenue (in millions) | 83,331) | 79,477) | 81,058) | 81,058) | 87,792) | 89,986) | 80,411) | 81,688) | 88,570) | 80,795) | 83,644) | 93,164) | 106,512) | 111,265) | 87,734) | 81,305) | 71,892) | 65,943) | 57,552) | ||||||
| Sales per share2 | 77.05 | 77.26 | 78.87 | 78.18 | 77.33 | 76.68 | 84.06 | 84.35 | 87.35 | 90.96 | 97.60 | 97.93 | 93.93 | 84.51 | 72.85 | 65.36 | 56.96 | 50.70 | 42.75 | ||||||
| Share price1, 3 | 113.76 | 107.37 | 103.27 | 110.30 | 118.61 | 114.77 | 119.64 | 104.32 | 105.85 | 106.62 | 110.10 | 109.73 | 109.61 | 91.02 | 91.70 | 76.77 | 63.93 | 56.84 | 60.97 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | 1.48 | 1.39 | 1.31 | 1.41 | 1.53 | 1.50 | 1.42 | 1.24 | 1.21 | 1.17 | 1.13 | 1.12 | 1.17 | 1.08 | 1.26 | 1.17 | 1.12 | 1.12 | 1.43 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | 1.65 | 1.41 | 1.24 | 1.43 | 1.45 | 1.32 | 1.53 | 1.46 | 1.39 | 1.39 | 1.27 | 1.31 | 1.54 | 1.44 | 1.86 | 1.69 | 1.63 | 1.69 | 2.19 | ||||||
| ConocoPhillips | 1.77 | 2.00 | 1.95 | 2.26 | 2.28 | 2.23 | 2.59 | 2.33 | 2.42 | 2.06 | 1.56 | 1.68 | 2.22 | 1.75 | 2.47 | 2.58 | 2.67 | 2.56 | 3.35 | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (Sales and other operating revenueQ3 2025
+ Sales and other operating revenueQ2 2025
+ Sales and other operating revenueQ1 2025
+ Sales and other operating revenueQ4 2024)
÷ No. shares of common stock outstanding
= (83,331,000,000 + 79,477,000,000 + 81,058,000,000 + 81,058,000,000)
÷ 4,217,165,614 = 77.05
3 Closing price as at the filing date of Exxon Mobil Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 113.76 ÷ 77.05 = 1.48
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several noteworthy trends regarding share price, sales per share, and price-to-sales (P/S) ratio over the observed periods.
- Share Price
- The share price demonstrated a general upward trend from March 2021 through the end of 2024, increasing from approximately $61 to a peak exceeding $119. During this period, the share price experienced some volatility, with notable increases in late 2021 and early 2022, followed by brief declines. From early 2025 onwards, a modest recovery is observed after a dip, with prices fluctuating between approximately $103 and $114. Overall, the share price exhibits growth with cyclical fluctuations reflecting market or operational influences.
- Sales Per Share
- Sales per share showed a steady increase from around $43 in early 2021 to a peak near $98 by the end of 2022. After this peak, sales per share declined gradually through 2023, reaching approximately $76 by mid-2024. The level stabilized somewhat thereafter, hovering just above $77 into 2025. This pattern indicates strong sales growth initially, followed by a period of contraction and stabilization, which may reflect changes in market demand, pricing, or production volumes.
- Price-to-Sales (P/S) Ratio
- The P/S ratio remained relatively consistent within a range of about 1.1 to 1.5 across the entire timeline. Early periods in 2021 showed ratios near 1.1 to 1.4, with some dips and recoveries. The ratio increased gradually in late 2023 and into 2024, reaching a high of approximately 1.53, before moderating slightly but staying elevated above 1.3 through 2025. This suggests that the market valuation per unit of sales improved over time, possibly reflecting enhanced investor confidence or market conditions favorable to valuation multiples.
In summary, the data indicates that while sales per share reached a plateau and experienced a mild decline after 2022, the share price continued to appreciate overall, suggesting that factors other than sales volume, such as profitability improvements, cost management, or market sentiment, may be influencing investor valuations. The rising P/S ratio supports the conclusion that the market placed increasing value on each unit of sales during the latter part of the period examined.
Price to Book Value (P/BV)
Exxon Mobil Corp., historical P/BV calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 4,217,165,614 | 4,263,247,021 | 4,309,638,821 | 4,339,143,313 | 4,395,094,536 | 4,442,826,580 | 3,943,006,866 | 3,967,844,307 | 3,962,917,886 | 4,003,192,787 | 4,042,984,946 | 4,070,984,988 | 4,118,293,421 | 4,167,636,295 | 4,212,543,236 | 4,233,592,429 | 4,233,566,839 | 4,233,562,917 | 4,233,538,917 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Total ExxonMobil share of equity (in millions) | 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) | 168,577) | 160,589) | 158,571) | 156,974) | ||||||
| Book value per share (BVPS)2 | 61.79 | 61.59 | 60.96 | 60.77 | 61.11 | 60.41 | 52.05 | 51.62 | 50.39 | 49.72 | 49.14 | 47.91 | 45.19 | 42.55 | 40.17 | 39.82 | 37.93 | 37.46 | 37.08 | ||||||
| Share price1, 3 | 113.76 | 107.37 | 103.27 | 110.30 | 118.61 | 114.77 | 119.64 | 104.32 | 105.85 | 106.62 | 110.10 | 109.73 | 109.61 | 91.02 | 91.70 | 76.77 | 63.93 | 56.84 | 60.97 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | 1.84 | 1.74 | 1.69 | 1.81 | 1.94 | 1.90 | 2.30 | 2.02 | 2.10 | 2.14 | 2.24 | 2.29 | 2.43 | 2.14 | 2.28 | 1.93 | 1.69 | 1.52 | 1.64 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | 1.62 | 1.81 | 1.60 | 1.81 | 1.80 | 1.64 | 1.85 | 1.78 | 1.70 | 1.88 | 1.86 | 1.94 | 2.21 | 1.93 | 2.25 | 1.89 | 1.61 | 1.47 | 1.59 | ||||||
| ConocoPhillips | 1.63 | 1.76 | 1.72 | 1.91 | 2.53 | 2.53 | 2.90 | 2.65 | 3.03 | 2.90 | 2.47 | 2.75 | 3.40 | 2.28 | 2.70 | 2.61 | 2.19 | 1.69 | 1.74 | ||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
BVPS = Total ExxonMobil share of equity ÷ No. shares of common stock outstanding
= 260,561,000,000 ÷ 4,217,165,614 = 61.79
3 Closing price as at the filing date of Exxon Mobil Corp. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 113.76 ÷ 61.79 = 1.84
5 Click competitor name to see calculations.
The share price exhibited an overall upward trend from early 2021 through mid-2024, starting at $60.97 and reaching a peak of $119.64 in the first quarter of 2024. This represents nearly a doubling in value over this period. After reaching this peak, the share price experienced some volatility and a slight decline, hovering between approximately $103 and $114 through the first three quarters of 2025, indicating a period of relative stabilization following the earlier growth phase.
The book value per share (BVPS) displayed a steady and consistent increase throughout the entire timeline. Beginning at $37.08 in the first quarter of 2021, BVPS gradually rose to $61.79 by the third quarter of 2025. This consistent upward trajectory in BVPS indicates ongoing growth in the net asset value per share, reflecting accumulation of retained earnings and possibly asset appreciation over time.
The price-to-book value ratio (P/BV) demonstrated more variability compared to the steady rise of BVPS. Initially, the ratio ranged from 1.52 to 1.93 in 2021, then climbed to reach a peak of 2.43 in the third quarter of 2022. After this peak, the ratio declined to around 1.81 by the fourth quarter of 2024 but showed a modest rebound to 1.84 by the third quarter of 2025. This fluctuation in P/BV suggests changing investor sentiment and valuation multiples over time, with a notable premium on the company's book value during late 2022, followed by a contraction and stabilization in subsequent periods.
Overall, the data indicate that the company experienced significant growth in market valuation and net asset value over the examined period. The share price increased sharply until early 2024, supported by steady growth in underlying book value. Meanwhile, valuation multiples as reflected by P/BV ratios showed periods of premium valuation that adjusted downward later, potentially signaling shifts in market expectations or external economic factors influencing investor perceptions.