Exxon Mobil Corp (XOM)
Financial leverage ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 376,317,000 | 372,259,000 | 363,248,000 | 369,371,000 | 369,067,000 | 370,152,000 | 367,774,000 | 354,771,000 | 338,923,000 | 336,688,000 | 337,289,000 | 333,770,000 | 332,750,000 | 358,043,000 | 361,495,000 | 355,804,000 | 362,597,000 | 359,361,000 | 360,729,000 | 356,189,000 |
| Total stockholders’ equity | US$ in thousands | 204,802,000 | 199,703,000 | 199,046,000 | 198,685,000 | 195,049,000 | 186,100,000 | 177,316,000 | 169,215,000 | 168,577,000 | 160,589,000 | 158,571,000 | 156,974,000 | 157,150,000 | 177,400,000 | 180,183,000 | 182,079,000 | 191,650,000 | 189,915,000 | 191,377,000 | 191,222,000 |
| Financial leverage ratio | 1.84 | 1.86 | 1.82 | 1.86 | 1.89 | 1.99 | 2.07 | 2.10 | 2.01 | 2.10 | 2.13 | 2.13 | 2.12 | 2.02 | 2.01 | 1.95 | 1.89 | 1.89 | 1.88 | 1.86 |
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 shown a fluctuating trend over the past eight quarters. The ratio measures the extent to which the company relies on debt to finance its operations compared to its equity.
From Q1 2022 to Q2 2023, the financial leverage ratio decreased from 2.10 to 1.82 before slightly increasing to 1.86 in Q3 2023. This indicates a reduction in the company's reliance on debt as a source of funding. However, in the latest quarter, Q4 2023, the ratio rose slightly to 1.84.
Overall, there has been a downward trend in Exxon Mobil's financial leverage ratio over the past year, from a peak of 2.10 in Q1 2022 to 1.84 in Q4 2023. This suggests that the company has been gradually reducing its debt levels relative to equity, which can indicate improved financial stability and decreased risk of financial distress. However, it is important to continue monitoring this metric to ensure sustainable financial health.
Peer comparison
Dec 31, 2023