Exxon Mobil Corp (XOM)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 376,317,000 | 369,067,000 | 338,923,000 | 332,750,000 | 362,597,000 |
| Total stockholders’ equity | US$ in thousands | 204,802,000 | 195,049,000 | 168,577,000 | 157,150,000 | 191,650,000 |
| Financial leverage ratio | 1.84 | 1.89 | 2.01 | 2.12 | 1.89 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $376,317,000K ÷ $204,802,000K
= 1.84
Exxon Mobil Corp.'s financial leverage ratio has exhibited a declining trend over the past five years, decreasing from 2.12 in 2020 to 1.84 in 2023. This indicates a reduction in the company's reliance on debt to finance its operations and growth. A lower financial leverage ratio suggests a stronger equity position and less financial risk. However, it is essential to note that a financial leverage ratio of 1.84 in 2023 still indicates that Exxon Mobil Corp. has a significant amount of debt relative to its equity. Monitoring future trends in the financial leverage ratio will be important to assess Exxon Mobil Corp.'s capital structure and risk profile.
Peer comparison
Dec 31, 2023