ExxonMobil produces oil and natural gas and manufactures fuels, lubricants, and chemicals for transport operators, industrial customers, and consumers around the world. Its businesses span resource exploration and production, refineries that turn crude oil into fuels, and plants that make plastics and other chemical materials. The company sells products through wholesale supply agreements and the Exxon, Esso, and Mobil brands, including motor oils for vehicles and machinery. It also sells services that capture, transport, and store industrial carbon dioxide underground. The merged company formed in 1999 from Exxon and Mobil, with roots in earlier oil businesses, and is headquartered in Spring, Texas.
Company Size
10,001+
Company Stage
N/A
Total Funding
N/A
Headquarters
Irving, Texas
Founded
1999
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Health Insurance
Life Insurance
401(k) Retirement Plan
Competitive compensation
Medical plans
Maternity Leave
Retirement benefits
Annual vacations & holidays
Day care assistance program
Training and development program
Tuition assistance program
Workplace flexibility policy
Relocation program
Transportation facility
ExxonMobil now stresses Guyana and refined fuels over its Pioneer Natural Resources acquisition, which it highlighted on its fiscal Q3 2024 call. The stock trades at 22.2 times earnings, near the S&P 500's 22.5. On its July call, management cited record Permian output of more than 1.8 million oil-equivalent barrels per day and record second-quarter diesel production. Guyana's gross output was about 900,000 barrels per day, and ExxonMobil recovered its capital and costs there nearly two years early. Energy Products brought in $290.3 billion in fiscal 2025, down 6.5%. Upstream earned $101.8 billion, down 1.7%. Energy Products makes up about 23% of business line earnings, up from about 9% five years ago. Risks include fuel margins boosted by a shipping route closure and possible European windfall taxes. Investors should watch Energy Products earnings and the start-up of the fifth Guyana vessel, Errea Wittu, expected by the end of 2026.
ExxonMobil raised chemical earnings from $110 million in the first quarter to $1.13 billion in the second, even as sales volumes fell. It sold 4.47 million tonnes of chemicals in the second quarter, down from 5.36 million in the first. The company credited $980 million of the year-over-year improvement to margins, helped by stronger North American ethane economics and performance chemicals. Industry chemical margins still sat below the bottom of the 2010–2019 benchmark range. Chemicals made up about 8% of group second-quarter earnings. ExxonMobil trades at 15x forward earnings, and analysts expect about 77% adjusted earnings per share growth in fiscal 2026. First-half operating cash flow was $32.26 billion, with $13.00 billion spent on property, plant and equipment.
ExxonMobil's output from Guyana and the Permian Basin is growing strongly. Its upstream volumes outside the Middle East have reached their highest level in more than two decades. Analysts say the company's valuation has held up and that it can sustain cash generation despite weaker crude price forecasts, climate litigation, and efficiency concerns versus peers. The US Supreme Court will hear Suncor v. Boulder, a climate case involving ExxonMobil, which could shape how far such lawsuits can go. One narrative projects revenue of $373.7 billion and earnings of $45.7 billion by 2029, up from $32.8 billion in earnings now. It puts fair value at $170.91, in line with the current price. The most optimistic analysts see revenue of $509 billion and earnings of $55.2 billion.
Exxon Mobil's 43-year run of annual dividend increases looks safe even if oil prices fall, though growth in the payout could be at risk. The company pays $4.12 a share a year, about $16.9 billion in total. In 2025, Exxon generated $51.97 billion of operating cash flow and $26.13 billion of free cash flow. Adding its $20 billion buyback pushed total payouts above free cash flow. If crude stays low, the buyback and capital spending would be cut first. Exxon's net debt-to-EBITDA ratio is 0.548, and it has cut structural costs by $16.3 billion since 2019. Rivals look weaker. Shell cut its dividend in 2020, and Chevron posted negative free cash flow of $1.549 billion in the first quarter of 2026. Exxon shares closed at $169.01, up 43.18% this year, with a yield of 2.48%.
ExxonMobil has blocked a proposal by partners in Kazakhstan's Kashagan oil field to settle a $5 billion environmental fine with the government, Bloomberg reported, citing unnamed sources. The company also convinced TotalEnergies to oppose the settlement, preventing the consensus needed among partners to proceed. ExxonMobil has made resolving the dispute a condition for potential new investment at Kashagan. The company told Kazakh officials that an $80 billion expansion to develop an untapped portion of the field would depend on settling the penalty. The fine, dating to 2022, amounts to 2.356 trillion tenge and stems from sulfur handling at the site. An Atyrau court upheld the penalty in June, and Kazakhstan's Justice Ministry began collection proceedings in July. The Kashagan partners continue contesting the fine through two international arbitrations.