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1. Company Snapshot

1.a. Company Description

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally.It operates through Upstream, Downstream, and Chemical segments.The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.


As of December 31, 2021, it had approximately 20,528 net operated wells with proved reserves.The company was founded in 1870 and is headquartered in Irving, Texas.

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1.b. Last Insights on XOM

Exxon Mobil Corporation's recent performance was negatively impacted by a sharp decline in April, following a strong Q1 2025 earnings beat. The company's shares fell 11.2% in April, reversing the 10.6% gain in Q1. Exxon Mobil's Q1 earnings report was anticipated with mixed analyst sentiment, with price targets ranging from $93 to $144. The company's significant investment in carbon capture technologies is expected to have a minimal impact on short-term results, with petroleum remaining its primary revenue driver.

1.c. Company Highlights

2. Exxon Mobil's Q3 2025 Earnings: A Showcase of Operational Excellence

Exxon Mobil reported a strong third quarter in 2025, with earnings per share (EPS) of $1.88, beating analyst estimates of $1.82. Revenue growth was not explicitly stated, but the company's production records in Guyana and the Permian Basin, along with its product solutions business, contributed to the robust EPS. The actual EPS figure represents a significant achievement, considering the company's ability to deliver high earnings in a similar price environment. With a Price-to-Earnings (P/E) Ratio of 16.54, the market seems to be pricing in a certain level of earnings stability.

Publication Date: Nov -01

📋 Highlights
  • Record Production in Guyana and Permian: Guyana achieved 700,000 barrels/day, while Permian hit 1.7 million oil-equivalent barrels/day, with 80,000 net acres acquired from Sinakin.
  • Accelerated FPSO Deployment: Yellowtail FPSO came online 4 months early; Hammerhead development sanctioned for 2029 production start.
  • Proxima Systems Expansion: Tripled product solutions capacity, including 40% faster rebar installation and one-coat marine coating replacing three coats.
  • Supercomputer and Graphite Acquisition: Launched Discovery Six supercomputer (with HPE/NVIDIA) and acquired Superior Graphite for battery tech, targeting $1B+ value from FPSOs.
  • Dividend and Capital Efficiency: 43 consecutive years of dividend growth; Permian capital efficiency yields strong returns, with 10 key 2025 projects on track for year-end startup.

Operational Highlights

The company's operational performance was a key driver of its financial results. Exxon Mobil broke production records in Guyana, producing over 700,000 barrels per day, and brought the Yellowtail FPSO online four months ahead of schedule. In the Permian Basin, the company set a production record of nearly 1,700,000 oil-equivalent barrels per day. As Darren Woods, Chairman and Chief Executive Officer, noted, "The company's longstanding focus on technical innovation is paying dividends, combined with its capabilities in execution excellence, delivering results that others cannot match."

Strategic Progress

Exxon Mobil also made significant progress in its product solutions business, tripling production capacity and demonstrating significant value in use. The company introduced new products based on its Proxima systems and acquired key assets from Superior Graphite, a leader in the graphite and specialty carbon market. These moves are expected to drive growth and improve profitability, with the company's Return on Invested Capital (ROIC) standing at 7.07%. The Dividend Yield is 3.46%, indicating an attractive return for income investors.

Valuation and Outlook

With a Price-to-Book (P/B) Ratio of 1.85 and an EV/EBITDA of 7.65, Exxon Mobil's valuation appears reasonable, considering its strong operational performance and strategic progress. Analysts estimate next year's revenue growth at -0.2%, but the company's diversified portfolio and commitment to innovation position it for long-term success. As Exxon Mobil continues to execute on its plans, its focus on technical innovation and execution excellence is likely to drive future growth and profitability.

3. NewsRoom

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Inside ExxonMobil's Balance Sheet: Key Takeaways for Investors

Dec -04

Source: zacks.com

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ExxonMobil shuts Singapore cracker, signals deep distress in global petrochemicals sector

Dec -04

Source: invezz.com

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Exxon to permanently shut one steam cracker in Singapore from March, sources say

Dec -04

Source: reuters.com

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The 2 Best High-Yield Energy Stocks in Vanguard High Dividend Yield ETF

Dec -03

Source: fool.com

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Beacon Pointe Advisors LLC Increases Position in Exxon Mobil Corporation $XOM

Dec -02

Source: defenseworld.net

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Exclusive: Exxon in talks with Iraq about buying Lukoil stake in giant West Qurna 2 oil field -  sources

Dec -02

Source: reuters.com

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3 Oil Stocks to Watch as Storylines Simmer

Dec -01

Source: schaeffersresearch.com

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The Big 3: COST, STX, XOM

Dec -01

Source: youtube.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.90%)

6. Segments

Energy Products - Non United States

Expected Growth: 4.2%

The non-US energy products segment is expected to grow slightly above the global average due to increasing demand in emerging markets and the segment's diversified geographical presence, which is expected to offset some of the volatility in global energy markets.

Energy Products - United States

Expected Growth: 3.5%

The US energy products segment is anticipated to grow at a rate below the global average due to mature market conditions and potential regulatory pressures that could impact demand and pricing.

Upstream - Non-United States

Expected Growth: 4.5%

The non-US upstream segment is expected to grow above the global average, driven by ongoing exploration and production projects in various countries, despite geopolitical uncertainties that could impact growth.

Upstream - United States

Expected Growth: 4.0%

The US upstream segment is expected to grow at a rate slightly above the global average, driven by shale production and investments in domestic energy projects, although it is subject to regulatory changes and market volatility.

Chemical Products - Non-United States

Expected Growth: 4.1%

The non-US chemical products segment is anticipated to grow above the global average, driven by increasing demand from emerging markets and the segment's diversified product portfolio.

Chemical Products - United States

Expected Growth: 3.2%

The US chemical products segment is expected to grow below the global average due to mature market conditions, despite a strong domestic industrial base, as the segment faces challenges from global competition and raw material cost fluctuations.

Specialty Products - Non United States

Expected Growth: 3.8%

The non-US specialty products segment is expected to grow near the global average, driven by demand in emerging markets, although it faces competition and potential economic volatility in some regions.

Specialty Products - United States

Expected Growth: 3.0%

The US specialty products segment is anticipated to grow below the global average due to mature market conditions and competitive pressures, despite a loyal customer base.

Intersegment Revenue

Expected Growth: 3.9%

Intersegment revenue is expected to grow in line with the global average, as it is directly related to the activities of other segments and thus mirrors the overall growth trend of the company.

7. Detailed Products

Gasoline

ExxonMobil's gasoline is a refined product used as a fuel for vehicles, providing energy for transportation.

Diesel Fuel

ExxonMobil's diesel fuel is a refined product used as a fuel for vehicles, equipment, and generators, providing energy for transportation and industry.

Jet Fuel

ExxonMobil's jet fuel is a refined product used as a fuel for aircraft, providing energy for air transportation.

Lubricants

ExxonMobil's lubricants are formulated to protect and maintain engines, gearboxes, and other machinery, reducing wear and tear.

Chemicals

ExxonMobil's chemicals are used in the production of plastics, adhesives, and other materials, providing building blocks for various industries.

Natural Gas

ExxonMobil's natural gas is a fossil fuel used for electricity generation, heating, and industrial processes.

Liquefied Natural Gas (LNG)

ExxonMobil's LNG is a fossil fuel used for electricity generation, industrial processes, and transportation.

Base Oils

ExxonMobil's base oils are used in the production of lubricants, providing a foundation for formulated products.

8. Exxon Mobil Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Exxon Mobil Corporation has a medium threat of substitutes due to the availability of alternative energy sources such as solar and wind power. However, the high cost of switching to these alternatives and the lack of infrastructure to support widespread adoption mitigate this threat.

Bargaining Power Of Customers

Exxon Mobil Corporation has a low bargaining power of customers due to the lack of negotiating power of individual consumers. The company's large customer base and diversified product offerings also reduce the bargaining power of customers.

Bargaining Power Of Suppliers

Exxon Mobil Corporation has a medium bargaining power of suppliers due to the availability of alternative suppliers of crude oil and other raw materials. However, the company's large scale of operations and vertical integration mitigate this threat.

Threat Of New Entrants

Exxon Mobil Corporation has a low threat of new entrants due to the high barriers to entry in the oil and gas industry, including the need for significant capital investment and regulatory approvals.

Intensity Of Rivalry

Exxon Mobil Corporation operates in a highly competitive industry with several large players, leading to a high intensity of rivalry. The company must continually innovate and improve its operations to maintain its market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 16.81%
Debt Cost 5.93%
Equity Weight 83.19%
Equity Cost 8.65%
WACC 8.19%
Leverage 20.20%

11. Quality Control: Exxon Mobil Corporation passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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MPLX

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Value: 4.7

Growth: 5.3

Quality: 6.7

Yield: 10.0

Momentum: 7.0

Volatility: 10.0

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Suncor Energy

A-Score: 7.1/10

Value: 7.1

Growth: 6.8

Quality: 6.2

Yield: 8.0

Momentum: 6.0

Volatility: 8.7

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Imperial Oil

A-Score: 6.7/10

Value: 5.6

Growth: 7.7

Quality: 6.7

Yield: 5.0

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Chevron

A-Score: 6.3/10

Value: 4.8

Growth: 5.0

Quality: 5.0

Yield: 8.0

Momentum: 5.0

Volatility: 9.7

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Diamondback Energy

A-Score: 6.2/10

Value: 7.4

Growth: 7.8

Quality: 6.3

Yield: 7.0

Momentum: 2.0

Volatility: 6.7

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ExxonMobil

A-Score: 6.0/10

Value: 5.7

Growth: 5.0

Quality: 6.2

Yield: 7.0

Momentum: 2.5

Volatility: 9.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

116.54$

Current Price

116.54$

Potential

-0.00%

Expected Cash-Flows