ExxonMobil has reported net profit of $6.5bn, or $1.53 per diluted share, for the fourth quarter of 2025 (Q4 2025), a 14% decrease compared to $7.6bn, or $1.72 per diluted share, for the same period in 2024.
The company generated $12.7bn in cash flow from operating activities and recorded free cash flow of $5.6bn.
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Shareholder distributions for the quarter totalled $9.5bn, comprising $4.4bn in dividends and $5.1bn in share repurchases.
For the full year 2025, ExxonMobil’s earnings reached $28.8bn, with shareholder distributions amounting to $37.2bn, including $17.2bn in dividends and $20bn in share repurchases.
This aligns with the company’s previously announced plans.
The annual earnings reflected a decrease from $33.7bn in 2024, attributed to weaker crude prices, lower chemical margins and increased depreciation costs.
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By GlobalDataHowever, these were partially offset by volume growth and structural cost savings, which have totalled $15.1bn since 2019.
ExxonMobil’s cash flow from operations for the year stood at $52bn, maintaining a compound annual growth rate of approximately 10% since 2019.
The company reported a debt-to-capital ratio of 14%, supported by an ending cash balance of $10.7bn.
Upstream operations generated annual earnings of $21.4bn, despite challenges from lower crude realisations and higher depreciation costs compared to the previous year’s $25.4bn.
Production reached its highest level in more than four decades at 4.7 million oil-equivalent barrels per day.
Energy Products recorded full-year earnings of $7.4bn, driven by improved refining margins and record throughput.
Chemical Products reported earnings of $800m, reflecting lower margins despite high-value product sales.
Specialty Products contributed $2.9bn in earnings, although this was a reduction from the previous year due to higher development spending and unfavourable currency fluctuations.
Corporate and financing incurred net charges of $3.6bn, attributed to diminished interest income and increased pension-related expenses.
Throughout 2025, ExxonMobil successfully delivered all ten key projects, adding $3bn to earnings on a constant price and margin basis.
The company achieved its highest annual upstream production in more than 40 years and set record refinery throughput levels, supporting substantial shareholder distributions.
Since 2019, ExxonMobil has realised cumulative structural cost savings of $15.1bn, surpassing all other international oil companies, and has met its plans for reducing corporate greenhouse gas emissions and flaring intensity by 2030.
ExxonMobil chairman and CEO Darren Woods said: “ExxonMobil is a fundamentally stronger company than it was just a few years ago, and our 2025 results demonstrate that.
“Our transformation is delivering a more resilient, lower-cost, technology-led business with structurally stronger earnings power, grounded in advantaged assets, disciplined capital allocation and execution excellence.
“We are capturing more value from every barrel and molecule we produce and building growth platforms at scale – creating a long runway of profitable growth through 2030 and beyond.
“That growth is underpinned by disciplined capital allocation and an industry-leading balance sheet that gives us unmatched flexibility to invest through the cycle and consistently deliver industry-leading returns.”
