Exxon Mobil Corp (XOM)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 376,317,000 | 369,067,000 | 338,923,000 | 332,750,000 | 362,597,000 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $376,317,000K
= 0.00
The debt-to-assets ratio for Exxon Mobil Corp. has been relatively stable over the past five years, ranging from 0.11 to 0.20. A lower debt-to-assets ratio signifies that the company relies less on debt financing and has a higher proportion of assets financed through equity.
In 2020, the ratio increased to 0.20, indicating a higher level of debt relative to assets. This increase could be a result of the company taking on more debt, potentially for strategic investments or operational needs. However, the ratio decreased in 2021 to 0.14 and then remained consistent at 0.11 in both 2022 and 2023.
The stability of the debt-to-assets ratio in recent years suggests that Exxon Mobil Corp. has been managing its debt levels effectively, maintaining a healthy balance between debt and assets. Overall, the company's conservative approach to debt management may indicate a lower financial risk and a solid financial position.
Peer comparison
Dec 31, 2023