10-K annual report · filed Feb 18, 2026

Exxon Mobil Corp (XOM) FY2025 10-K Annual Report

Short answer

Exxon Mobil Corp (XOM) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $332.2B (−5.0% year over year) and net income of $28.8B.

  • Top risk flagged: Regulatory risk from U.S. Environmental Protection Agency multiparty environmental remediation liabilities; no individual site expected to materially impact operations or finances

FY2025 key financial metrics · XBRL

Revenue
$332.2B
−5.0% YoY
Net income
$28.8B
−14.4% YoY
EPS (diluted)
$6.70
−14.5% YoY
ROE
11.1%
−1.7 pp YoY
Operating cash flow
$52.0B
−5.5% YoY

Source: XBRL data from the Exxon Mobil Corp (XOM) FY2025 10-K on SEC EDGAR. USD.

Exxon Mobil Corp FY2025 10-K analysis

AI summary of each section, grounded in the filing text

Business Overview

  • Core business: Hydrocarbon-based energy and petrochemical products with focus on competitive global oil and gas markets
  • Emphasis on lower-emission and new energy markets integration amid rising alternative energy competition
  • Competitive landscape includes state-owned firms pursuing strategic goals beyond financial returns, increased AI and technology influence
  • Reputation risks linked to operating incidents, cybersecurity, shifting consumer views, and investor perceptions of energy transition progress
  • Navigating evolving societal and investor pressures related to energy transition aspirations and capital allocation challenges

Risk Factors

  • Regulatory risk from U.S. Environmental Protection Agency multiparty environmental remediation liabilities; no individual site expected to materially impact operations or finances
  • Geopolitical exposure: Upstream spending increased $4.4 billion in 2025 focused on U.S. Permian Basin including Pioneer acquisition impact
  • Operational risk from long lead times for large development projects, often exceeding five years, potentially delaying production and cash flows
  • Market disruption from volatile Brent crude prices; $1/barrel price change impacts earnings by approximately $700 million annually after tax
  • Financial risk: Take-or-pay and unconditional purchase obligations totaled $54.1 billion at year-end 2025, with $6.3 billion due in 2026 and $6.2 billion in 2027

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