Exxonmobil Holdings Corporation (XOM) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-35.1%

$117.34

vs $180.68 price

Levered DCF

$121.41

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

4.2

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	17.96×	13.72×	11.25×	8.32×	11.35×	-7.85×	20.77×	13.86×
P/B	2×	1.75×	1.98×	2.38×	1.55×	1.12×	1.55×	1.51×
P/S	1.6×	1.36×	1.21×	1.16×	0.95×	0.99×	1.17×	1.03×
EV / EBITDA	8.12×	6.56×	5.59×	4.63×	5.73×	-34.11×	8.57×	6.41×
Gross margin	21.7%	22.6%	25.1%	25.9%	23.5%	4.6%	21.9%	24.2%
Operating margin	10.5%	11.7%	13.3%	16.1%	8.7%	-16.5%	5.0%	7.9%
Net margin	8.9%	9.9%	10.8%	14.0%	8.3%	-12.6%	5.6%	7.5%
Current ratio	1.15×	1.31×	1.48×	1.41×	1.04×	0.8×	0.78×	0.84×
Debt / equity	0.17×	0.16×	0.2×	0.21×	0.28×	0.43×	0.24×	0.2×
Interest coverage	56.28×	39.81×	52.37×	80.24×	25.36×	-25.43×	15.38×	28.88×
Dividend yield	3.3%	3.6%	3.7%	3.2%	5.7%	8.4%	4.9%	4.8%
Payout ratio	59.7%	49.6%	41.5%	26.8%	64.8%	-66.2%	102.2%	66.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.1%	12.8%	17.6%	28.6%	13.7%	-14.3%	7.5%	10.9%
Return on invested capital	6.3%	7.3%	10.0%	15.8%	6.3%	-8.0%	2.9%	5.0%
Return on assets	6.4%	7.4%	9.6%	15.1%	6.8%	-6.7%	4.0%	6.0%
Free cash flow yield	4.6%	6.6%	8.3%	12.6%	13.8%	-1.5%	1.8%	5.7%
Earnings yield	5.6%	7.3%	8.9%	12.0%	8.8%	-12.7%	4.8%	7.2%
Enterprise value	$550.9B	$481B	$415.2B	$475.4B	$302.5B	$239.3B	$341.8B	$323.7B
Net debt / EBITDA	0.48×	0.25×	0.14×	0.11×	0.77×	-9.02×	1.1×	0.69×
Cash conversion cycle (days)	0	29	33	27	29	45	27	29