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Company file · XOM

ExxonMobil

Refining and fuels make up nearly two-thirds of ExxonMobil's segment sales

Refining and fuels sales were $291.6B in 2025 before intersegment eliminations. Total revenues and other income fell 5.0% to $332.2B, and net income fell 14.4% to $28.8B.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 18, 2026) · Latest quarter: 10-Q for the quarter ended Jun 30, 2026 (filed Aug 3, 2026) · Data pulled Oct 26, 2026

Key facts

In fiscal 2025, which ended Dec 31, 2025, ExxonMobil (NYSE: XOM) took in $332.2B of total revenues and other income (down 5.0% on fiscal 2024); net income to ExxonMobil was $28.8B (down 14.4%). The most recent quarter, ended Jun 30, 2026, brought total revenues of $116.0B, up 42.3% year over year, with net income of $14.5B. Energy Products was the biggest single line segment revenue, before intersegment sales are eliminated: 64% of fiscal 2025 total revenues and other income. Sources: 10-K for fiscal 2025 (filed Feb 18, 2026) and 10-Q for the quarter ended Jun 30, 2026 (filed Aug 3, 2026).

Total revenues$332.2BFY2025 · −5.0% vs FY2024
Net income to ExxonMobil$28.8BFY2025 · −14.4% vs FY2024
Operating cash flow$52.0BFY2025 · −5.5% vs FY2024
Cash & equivalents$10.6Bat Jun 30, 2026 · −0.9% vs FY2025 end
Total debt$42.4Bat Jun 30, 2026 · −2.7% vs FY2025 end
Total revenues and other income and net income to ExxonMobil, three fiscal yearsBy fiscal year, $bn
Total revenues and other incomeNet income to ExxonMobil
Total revenues and other income and net income to ExxonMobil by fiscal yearTotal revenues and other income FY2023: $344.6B344.6Net income to ExxonMobil FY2023: $36.0B36.0FY2023Total revenues and other income FY2024: $349.6B349.6Net income to ExxonMobil FY2024: $33.7B33.7FY2024Total revenues and other income FY2025: $332.2B332.2Net income to ExxonMobil FY2025: $28.8B28.8FY2025

Source: 10-K FY2025, filed Feb 18, 2026

Quarterly total revenues and other income: fiscal 2026 vs a year earlierFiscal Q1–Q2, $bn (each quarter from that quarter's 10-Q)
FY2025FY2026
Quarterly total revenues and other income, fiscal 2026 vs 2025FY2025 Q1: $83.1B83.1FY2026 Q1: $85.1B85.1Q1FY2025 Q2: $81.5B81.5FY2026 Q2: $116.0B116.0Q2

Source: 10-Q filed Aug 3, 2026 · 10-Q filed May 4, 2026

How it makes money

FY2025 total by categoryUpstream: $107.2B (24%)Energy Products: $291.6B (64%)Chemical Products: $33.0B (7%)Specialty Products: $20.5B (5%)$452.2BFY2025 total

Segment revenue, before intersegment sales are eliminated, FY2025

  • LineAmountSharevs FY2024
  • Upstream$107.2B24%−3.2%
  • Energy Products$291.6B64%−6.2%
  • Chemical Products$33.0B7%−5.5%
  • Specialty Products$20.5B5%−4.4%

Source: 10-K FY2025, XBRL breakdown

Before intersegment eliminations, Energy Products was 64% of segment revenue in 2025, Upstream 24%, Chemical Products 7% and Specialty Products 5%. Segments also sell to one another, for example crude oil moving from Upstream to the refineries, which is why segment totals are larger than reported revenue.

Segment revenue, before intersegment sales are eliminated: three-year mixShare of the total each fiscal year
UpstreamEnergy ProductsChemical ProductsSpecialty Products

Source: 10-K FY2025

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q2 2026 (Apr to Jun 2026) compared with Q2 2025 (Apr to Jun 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q2 2026Q2 2025

Company

Total revenues
$116.0B Q2 2026
$81.5B Q2 2025
42.3% increase
Net income
$14.5B Q2 2026
$7.1B Q2 2025
105.1% increase

Source: ExxonMobil 10-Q for the quarter ended Jun 30, 2026, filed Aug 3, 2026

By segment

Energy Products
$109.5B Q2 2026
$71.1B Q2 2025
54.0% increase
Upstream
$35.5B Q2 2026
$25.7B Q2 2025
38.0% increase
Chemical Products
$10.1B Q2 2026
$8.3B Q2 2025
21.4% increase
Specialty Products
$6.1B Q2 2026
$5.3B Q2 2025
15.3% increase

Source: ExxonMobil 10-Q for the quarter ended Jun 30, 2026, filed Aug 3, 2026

  • Cash & equivalents $10.6B at Jun 30, 2026, vs $10.7B at FY2025 end.
  • Total debt $42.4B at Jun 30, 2026, vs $43.5B at FY2025 end.
  • Operating cash flow, first 6 months of fiscal 2026: $32.3B vs $24.5B a year earlier.

The bull case and the bear case

The bull case

The bear case

  • Net income fell 14.4% in 2025 to $28.8B, and revenue fell 5.0%. 10-K, FY2025
  • Cash and equivalents fell 53.6% during 2025 to $10.7B. 10-K, FY2025
  • The 10-K says results depend heavily on oil, gas and product prices, which it doesn't control. 10-K, Item 1A
  • It also lists climate rules, the energy transition and political risk in the countries where it operates. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

ExxonMobil finds and produces oil and natural gas, refines it into fuels and lubricants, and makes chemicals and specialty products, with operations around the world.

ExxonMobil reports four segments. Upstream explores for and produces crude oil and natural gas. Energy Products refines crude and sells fuels. Chemical Products makes petrochemicals such as plastics, and Specialty Products makes lubricants and other finished products.

Since July 1, 2026, the listed company has been ExxonMobil Holdings Corporation, a new holding company above Exxon Mobil Corporation. Its fiscal year is the calendar year.

Source: 10-K, Item 1 Business

Main risks the company lists

Our plain-English paraphrase of the risk factors in ExxonMobil's latest 10-K. Read the original for the full list.

  1. Prices and demandOil, gas and chemical prices, driven by supply, demand and the economy, largely set its earnings.
  2. Government and politicsSanctions, expropriation, changing rules and litigation can restrict where and how it does business.
  3. Climate and energy transitionGreenhouse-gas rules and shifts toward lower-emission energy could reduce demand or raise costs.
  4. Projects and explorationBig projects can run late or over budget, and exploration may not find enough oil and gas.
  5. Safety and operationsAccidents, spills and other incidents could cause harm and losses.
  6. Cyber and reputationCyberattacks and damage to its reputation are listed risks.

Source: 10-K, Item 1A Risk Factors (the full list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$FY2023FY2024FY2025
Total revenues and other income$344.6B$349.6B$332.2B
Net income to ExxonMobil$36.0B$33.7B$28.8B
Operating cash flow$55.4B$55.0B$52.0B
Cash & equivalents (year end)$31.5B$23.0B$10.7B
Total debt (year end)$41.6B$41.7B$43.5B
  • Total revenues and other income: Sales and other operating revenue plus income from equity affiliates and other income.
  • Net income to ExxonMobil: Net income attributable to ExxonMobil, after the share belonging to minority owners of some affiliates.
  • Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
  • Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
  • Total debt: Notes and loans payable plus long-term debt, including finance leases, at carrying value.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator

About these numbers

  • ExxonMobil Holdings Corporation became the listed parent on July 1, 2026 (SEC CIK 2115436). The 2025 10-K was filed by Exxon Mobil Corporation (CIK 34088), so annual figures and filing links come from that company.
  • Total revenues and other income include income from equity affiliates and other income, not just sales.
  • Segment revenue includes sales between segments, so the segment chart adds up to more than reported revenue.

What we left out

  • Diluted shares: ExxonMobil doesn't tag a separate diluted share count in its 10-K data, so the share row is left out.

Recent filings

FormFiledPeriod
10-QAug 3, 2026Jun 30, 2026
10-QMay 4, 2026Mar 31, 2026
DEF 14AApr 8, 2026May 27, 2026
10-KFeb 18, 2026Dec 31, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Latest filings

  1. Oct 168:02 AM ET

    8-K

    ExxonMobil files an 8-K on investor materials (Reg FD)

    ExxonMobil filed a Form 8-K on Oct 16, 2026 at 8:02 AM ET under Item 7.01 (Regulation FD Disclosure).

  2. Sep 255:20 PM ET

    8-K

    ExxonMobil files an 8-K on other events

    ExxonMobil filed a Form 8-K on Sep 25, 2026 at 5:20 PM ET under Item 8.01 (Other Events).

All ExxonMobil filings notes →

Common questions about ExxonMobil

How does ExxonMobil make money?

In fiscal 2025, total revenues and other income totaled $332.2B. Before intersegment eliminations, Energy Products was 64% of segment revenue in 2025, Upstream 24%, Chemical Products 7% and Specialty Products 5%. Segments also sell to one another, for example crude oil moving from Upstream to the refineries, which is why segment totals are larger than reported revenue. Source: 10-K for fiscal 2025, filed Feb 18, 2026.

What was ExxonMobil's revenue in fiscal 2025?

Total revenues and other income came to $332.2B in the year ended Dec 31, 2025. Going back two years, it was $344.6B in fiscal 2023 and $349.6B in fiscal 2024, so the latest year was down 5.0%. Source: 10-K for fiscal 2025, filed Feb 18, 2026.

Is ExxonMobil profitable?

Yes, by US accounting rules (GAAP): net income to ExxonMobil was $28.8B in fiscal 2025, down 14.4% from $33.7B a year earlier. For the quarter ended Jun 30, 2026, net income was $14.5B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 18, 2026.

What did ExxonMobil report in its latest quarterly filing?

The 10-Q for the quarter ended Jun 30, 2026 shows total revenues of $116.0B, against $81.5B in the same quarter a year before (up 42.3%), and net income of $14.5B, against $7.1B (up 105.1%). Source: 10-Q for the quarter ended Jun 30, 2026, filed Aug 3, 2026.

How much cash and debt does ExxonMobil have?

On Jun 30, 2026, cash and cash equivalents stood at $10.6B and total debt at $42.4B. Total debt here is notes and loans payable plus long-term debt, including finance leases, at carrying value. Source: 10-Q filed Aug 3, 2026.

What are the main risks ExxonMobil lists?

Item 1A of the fiscal 2025 10-K (filed Feb 18, 2026) sets out the risks. Grouped, they fall into 6 areas: Prices and demand; government and politics; climate and energy transition; projects and exploration; safety and operations; cyber and reputation. To start with the first: Oil, gas and chemical prices, driven by supply, demand and the economy, largely set its earnings. Source: 10-K, Item 1A Risk Factors.

Where do these ExxonMobil numbers come from?

Two filings ExxonMobil made with the SEC: its fiscal 2025 10-K, filed Feb 18, 2026, and its 10-Q for the quarter ended Jun 30, 2026, filed Aug 3, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.

Disclosures

Editor holdings in XOM
The editor holds no position in ExxonMobil (XOM). As of Oct 25, 2026.
Trading rule
The editor does not buy or sell XOM from 3 days before to 3 days after this page is published or substantively updated.
Compensation
Nobody paid for this page. No affiliate links on this page.
Sources
The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated
Oct 25, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold XOM, and it doesn't consider your situation.

Compare with peers

CompanyFiscal yearRevenueRevenue growthNet income
ExxonMobilXOMFY2025$332.2B−5.0%$28.8B
ChevronCVXFY2025$189.0B−6.8%$12.3B
ConocoPhillipsCOPFY2025$58.9B+7.7%$8.0B
NextEra EnergyNEEFY2025$27.4B+10.7%$6.8B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.