Return on Assets (ROA)
since 2005
Calculation
ExxonMobil Holdings Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to ExxonMobil1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 6.42% | = | 100 | × | 28,844) | ÷ | 448,980) |
| Dec 31, 2024 | 7.43% | = | 100 | × | 33,680) | ÷ | 453,475) |
| Dec 31, 2023 | 9.57% | = | 100 | × | 36,010) | ÷ | 376,317) |
| Dec 31, 2022 | 15.10% | = | 100 | × | 55,740) | ÷ | 369,067) |
| Dec 31, 2021 | 6.80% | = | 100 | × | 23,040) | ÷ | 338,923) |
| Dec 31, 2020 | -6.74% | = | 100 | × | (22,440) | ÷ | 332,750) |
| Dec 31, 2019 | 3.95% | = | 100 | × | 14,340) | ÷ | 362,597) |
| Dec 31, 2018 | 6.02% | = | 100 | × | 20,840) | ÷ | 346,196) |
| Dec 31, 2017 | 5.65% | = | 100 | × | 19,710) | ÷ | 348,691) |
| Dec 31, 2016 | 2.37% | = | 100 | × | 7,840) | ÷ | 330,314) |
| Dec 31, 2015 | 4.80% | = | 100 | × | 16,150) | ÷ | 336,758) |
| Dec 31, 2014 | 9.30% | = | 100 | × | 32,520) | ÷ | 349,493) |
| Dec 31, 2013 | 9.39% | = | 100 | × | 32,580) | ÷ | 346,808) |
| Dec 31, 2012 | 13.45% | = | 100 | × | 44,880) | ÷ | 333,795) |
| Dec 31, 2011 | 12.40% | = | 100 | × | 41,060) | ÷ | 331,052) |
| Dec 31, 2010 | 10.07% | = | 100 | × | 30,460) | ÷ | 302,510) |
| Dec 31, 2009 | 8.26% | = | 100 | × | 19,280) | ÷ | 233,323) |
| Dec 31, 2008 | 19.83% | = | 100 | × | 45,220) | ÷ | 228,052) |
| Dec 31, 2007 | 16.78% | = | 100 | × | 40,610) | ÷ | 242,082) |
| Dec 31, 2006 | 18.04% | = | 100 | × | 39,500) | ÷ | 219,015) |
| Dec 31, 2005 | 17.34% | = | 100 | × | 36,130) | ÷ | 208,335) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The Return on Assets (ROA) exhibits significant volatility over the analyzed period, characterized by cyclical fluctuations in profitability and a substantial expansion of the total asset base. The overall trajectory demonstrates a transition from high efficiency in the mid-2000s to a more volatile and generally lower return profile in the subsequent decades.
- High Efficiency Phase (2005–2008)
- The initial period is marked by robust operational efficiency, with ROA consistently remaining above 16% and peaking at 19.83% in 2008. This performance was driven by strong net income growth, which reached 45.22 billion USD, while the asset base remained relatively contained between 208 billion USD and 242 billion USD.
- Period of Decline and Instability (2009–2016)
- A sharp contraction occurred in 2009, with ROA falling to 8.26%. Despite a moderate recovery between 2010 and 2012, where returns reached 13.45%, a sustained downward trend followed. By 2016, ROA reached a cyclical low of 2.37%, coinciding with a significant drop in net income to 7.84 billion USD, even as total assets continued to expand toward 330 billion USD.
- Crisis and Rapid Recovery (2017–2022)
- Following a period of marginal stabilization, the ROA experienced an extreme outlier in 2020, plummeting to -6.74% due to a net loss of 22.44 billion USD. This was followed by a rapid recovery, peaking at 15.10% in 2022. This recovery was driven by a surge in net income to 55.74 billion USD, the highest value in the observed dataset.
- Recent Downward Trend (2023–2025)
- The most recent data indicates a gradual decline in asset efficiency. ROA decreased from 9.57% in 2022 to 6.42% by 2025. This compression is attributed to a combination of moderating net income and a substantial increase in total assets, which grew from 369 billion USD in 2021 to 448.98 billion USD by 2025.
The relationship between net income and total assets suggests that while profitability has seen periodic spikes, the continuous growth of the asset base has created a higher threshold for maintaining historical levels of ROA. The volatility in returns is more closely correlated with fluctuations in net income than with changes in the asset structure.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
ExxonMobil Holdings Corp., ROA, long-term trends, comparison to competitors
| ExxonMobil Holdings Corp. | Chevron Corp. | ConocoPhillips | |
|---|---|---|---|
| Dec 31, 2025 | 6.42% | 3.80% | 6.55% |
| Dec 31, 2024 | 7.43% | 6.87% | 7.53% |
| Dec 31, 2023 | 9.57% | 8.17% | 11.42% |
| Dec 31, 2022 | 15.10% | 13.76% | 19.91% |
| Dec 31, 2021 | 6.80% | 6.52% | 8.91% |
| Dec 31, 2020 | -6.74% | -2.31% | -4.31% |
| Dec 31, 2019 | 3.95% | 1.23% | 10.20% |
| Dec 31, 2018 | 6.02% | 5.84% | 8.94% |
| Dec 31, 2017 | 5.65% | 3.62% | -1.17% |
| Dec 31, 2016 | 2.37% | -0.19% | -4.03% |
| Dec 31, 2015 | 4.80% | 1.72% | -4.54% |
| Dec 31, 2014 | 9.30% | 7.23% | 5.89% |
| Dec 31, 2013 | 9.39% | 8.44% | 7.76% |
| Dec 31, 2012 | 13.45% | 11.24% | 7.19% |
| Dec 31, 2011 | 12.40% | 12.84% | 8.12% |
| Dec 31, 2010 | 10.07% | 10.30% | 7.27% |
| Dec 31, 2009 | 8.26% | 6.37% | 3.18% |
| Dec 31, 2008 | 19.83% | 14.85% | -11.90% |
| Dec 31, 2007 | 16.78% | 12.56% | 6.69% |
| Dec 31, 2006 | 18.04% | 12.92% | 9.44% |
| Dec 31, 2005 | 17.34% | 11.20% | 12.64% |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
ExxonMobil Holdings Corp., ROA, long-term trends, comparison to sector (oil, gas & consumable fuels)
| ExxonMobil Holdings Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2025 | 6.42% | 5.49% |
| Dec 31, 2024 | 7.43% | 7.27% |
| Dec 31, 2023 | 9.57% | 9.31% |
| Dec 31, 2022 | 15.10% | 15.25% |
| Dec 31, 2021 | 6.80% | 6.99% |
| Dec 31, 2020 | -6.74% | -4.83% |
| Dec 31, 2019 | 3.95% | 3.65% |
| Dec 31, 2018 | 6.02% | 6.26% |
| Dec 31, 2017 | 5.65% | 4.15% |
| Dec 31, 2016 | 2.37% | 0.55% |
| Dec 31, 2015 | 4.80% | 2.33% |
| Dec 31, 2014 | 9.30% | 8.01% |
| Dec 31, 2013 | 9.39% | 8.79% |
| Dec 31, 2012 | 13.45% | 11.62% |
| Dec 31, 2011 | 12.40% | 11.59% |
| Dec 31, 2010 | 10.07% | 9.45% |
| Dec 31, 2009 | 8.26% | 6.29% |
| Dec 31, 2008 | 19.83% | 9.80% |
| Dec 31, 2007 | 16.78% | 12.52% |
| Dec 31, 2006 | 18.04% | 13.98% |
| Dec 31, 2005 | 17.34% | 14.45% |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
ExxonMobil Holdings Corp., ROA, long-term trends, comparison to industry (energy)
| ExxonMobil Holdings Corp. | Energy | |
|---|---|---|
| Dec 31, 2025 | 6.42% | 5.53% |
| Dec 31, 2024 | 7.43% | 7.37% |
| Dec 31, 2023 | 9.57% | 9.28% |
| Dec 31, 2022 | 15.10% | 14.84% |
| Dec 31, 2021 | 6.80% | 6.84% |
| Dec 31, 2020 | -6.74% | -6.08% |
| Dec 31, 2019 | 3.95% | 1.97% |
| Dec 31, 2018 | 6.02% | 5.95% |
| Dec 31, 2017 | 5.65% | 3.55% |
| Dec 31, 2016 | 2.37% | 0.27% |
| Dec 31, 2015 | 4.80% | 2.39% |
| Dec 31, 2014 | 9.30% | 8.02% |
| Dec 31, 2013 | 9.39% | 8.90% |
| Dec 31, 2012 | 13.45% | 11.40% |
| Dec 31, 2011 | 12.40% | 11.40% |
| Dec 31, 2010 | 10.07% | 9.36% |
| Dec 31, 2009 | 8.26% | 6.46% |
| Dec 31, 2008 | 19.83% | 10.21% |
| Dec 31, 2007 | 16.78% | 12.80% |
| Dec 31, 2006 | 18.04% | 14.07% |
| Dec 31, 2005 | 17.34% | 14.36% |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).