Exxon Mobil Corp. (XOM) intrinsic value & 10-year financials
Exxon Mobil Corp. (XOM) has a Graham intrinsic value of $222.55 per share. At $178.98 on Oct 17, 2026, the stock trades 20% below that value. Over the last 10 fiscal years revenue grew 4.8% a year to $332.2B, with an average return on invested capital of 10.0%.
- Graham intrinsic value
- $222.55
- Share price (Oct 17, 2026)
- $178.98
- Price vs Graham value
- 20% below
- Market cap
- $770.5B
- Revenue (FY2025)
- $332.2B
- Revenue growth (10-yr CAGR)
- 4.8%
- ROIC (10-yr avg)
- 10.0%
- Free cash flow (FY2025)
- $23.6B
XOM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $332.2B | $28.8B | $6.70 | $23.6B | — | 10.3% |
| FY2024 | $349.6B | $33.7B | $7.84 | $30.7B | — | 13.8% |
| FY2023 | $344.6B | $36.0B | $8.89 | $33.5B | — | 17.3% |
| FY2022 | $413.7B | $55.7B | $13.26 | $58.4B | — | 27.1% |
| FY2021 | $276.7B | $23.0B | $5.39 | $36.1B | — | 11.4% |
| FY2020 | $178.6B | -$22.4B | -$5.25 | -$2.6B | — | -10.8% |
| FY2019 | $255.6B | $14.3B | $3.36 | $5.4B | — | 6.8% |
| FY2018 | $279.3B | $20.8B | $4.88 | $16.4B | — | 10.0% |
| FY2017 | $237.2B | $19.7B | $4.63 | $14.7B | — | 9.8% |
| FY2016 | $218.6B | $7.8B | $1.88 | $5.9B | — | 4.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ExxonMobil has demonstrated mature, steady growth, with revenue compounding at 4.8% annually over the past decade.
ExxonMobil returns on capital have been average, hovering around 10.0% ROIC over the decade.
ExxonMobil has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, ExxonMobil is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $222.55 per share.