Earnings quality
Compare earnings and operating cash flow for earnings quality.
Exxon Mobil Corporation
Ticker XOM · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-02-18 · Period end 2021-12-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 57.8%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio57.8%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
Exxon Mobil Corporation is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Financial statements
Income statement
| Account | FY2020 (ended Dec 31, 2020) | FY2021 (ended Dec 31, 2021) |
|---|---|---|
| Revenue | $178.6B | $276.7B |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit | — | — |
| Income tax | $13.8B | $11.5B |
| Net income | $33.7B | $28.8B |
| Basic EPS | 7.84 | 6.70 |
Balance sheet
| Account | FY2020 (ended Dec 31, 2020) | FY2021 (ended Dec 31, 2021) |
|---|---|---|
| Cash & equivalents | $23.0B | $10.7B |
| Current assets | $92.0B | $83.4B |
| Non-current assets* | $361.5B | $365.6B |
| Total assets | $453.5B | $449.0B |
| Current liabilities | $70.3B | $72.3B |
| Non-current liabilities* | $112.6B | $110.0B |
| Total liabilities | $182.9B | $182.4B |
| Stockholders’ equity | $263.7B | $259.4B |
Cash flow statement
| Account | FY2020 (ended Dec 31, 2020) | FY2021 (ended Dec 31, 2021) |
|---|---|---|
| Operating cash flow | $55.0B | $52.0B |
| Investing cash flow | -$19.9B | -$25.9B |
| Financing cash flow | -$42.8B | -$39.1B |
| Cash at end of period | $23.0B | $10.7B |
Five-year trends
Key metrics
| Metric | Trend | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | $237.2B | $279.3B | $255.6B | $178.6B | $276.7B | |
| Net income | $19.7B | $20.8B | $14.3B | -$22.4B | $23.0B | |
| Total assets | $348.7B | $346.2B | $362.6B | $332.8B | $338.9B | |
| Cash & equivalents | $3.2B | $3.0B | $3.1B | $4.4B | $6.8B | |
| Stockholders’ equity | $187.7B | $191.8B | $191.7B | $157.2B | $168.6B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from $178.6B to $276.7B (▲ +54.9%). Operating profit went from — to — (—).
Operating cash flow was $52.0B (prior $55.0B), with cash on the balance sheet at $10.7B versus $23.0B.
Liquidity & leverage
Cash moved from $23.0B to $10.7B; current liabilities $72.3B.
Capital buffer
Stockholders’ equity moved from $263.7B to $259.4B.
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Source: SEC EDGAR 0000034088-26-000045
(Exxon Mobil Corporation), period end 2021-12-31.