Exxon Mobil Corp (XOM)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	204,802,000	195,049,000	168,577,000	157,150,000	191,650,000
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $204,802,000K)
= 0.00

The debt-to-capital ratio for Exxon Mobil Corp. has shown fluctuations over the past five years. In 2023 and 2022, the ratio stood at 0.17, indicating that only 17% of the company's capital structure was financed by debt, with the remaining 83% funded by equity. This implies a relatively low level of leverage.

However, in 2021, the ratio increased to 0.22, suggesting that 22% of the capital was debt-funded. The rise in the ratio indicates an increase in the proportion of debt relative to equity in the company's capital structure. This could be due to various factors such as increased borrowing or a decrease in shareholder equity.

In 2020, the debt-to-capital ratio rose significantly to 0.30, indicating a further shift towards debt financing, with 30% of the capital being debt-funded. This could potentially signal higher financial risk for the company, as higher debt levels may lead to increased interest payments and financial obligations.

In 2019, the ratio was 0.20, indicating that 20% of the capital was financed by debt. This was lower compared to 2020 but higher than the recent years, suggesting a moderate level of debt in the company's capital structure.

Overall, the trend in Exxon Mobil Corp.'s debt-to-capital ratio shows variability over the years, with fluctuations in debt levels relative to equity financing. Investors and stakeholders should closely monitor these changes to assess the company's financial risk and leverage position.