| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 72.70 | -38 |
| Intrinsic value (DCF) | 41.62 | -65 |
| Graham-Dodd Method | 36.60 | -69 |
| Graham Formula | 64.20 | -45 |
Exxon Mobil Corporation (XONA.DE) is a global leader in the integrated oil and gas industry, operating across upstream exploration and production, downstream refining and marketing, and chemical manufacturing segments. Headquartered in Irving, Texas, ExxonMobil explores for and produces crude oil and natural gas worldwide, with proved reserves spanning 20,528 net operated wells as of 2021. The company's diversified operations include refining, trading, and transporting petroleum products, petrochemicals, and specialty chemicals, alongside investments in carbon capture, hydrogen, and biofuels. ExxonMobil's vertically integrated business model ensures resilience across commodity cycles, while its technological expertise in energy solutions positions it as a key player in the transition toward lower-carbon energy. Listed on the Deutsche Börse (XETRA) with a market cap of approximately €390 billion, ExxonMobil remains a cornerstone of the energy sector, balancing traditional hydrocarbon dominance with strategic investments in sustainable energy.
ExxonMobil presents a compelling investment case due to its strong balance sheet, diversified operations, and commitment to shareholder returns. With a market cap of €390 billion and a low beta of 0.475, the company offers stability in volatile energy markets. Its robust operating cash flow (€55 billion) supports consistent dividends (€3.69/share) and strategic capex (€24.3 billion). However, exposure to oil price volatility and regulatory risks in the energy transition could pressure long-term growth. The company's focus on carbon capture and biofuels provides a hedge against decarbonization trends, but execution risks remain. Investors should weigh ExxonMobil's cash-generating ability against evolving ESG pressures.
ExxonMobil's competitive advantage lies in its scale, vertical integration, and technological leadership. As one of the largest integrated oil companies, it benefits from economies of scale in upstream production and downstream refining. Its chemical segment adds diversification, leveraging petrochemical demand growth. ExxonMobil's R&D focus on carbon capture and hydrogen differentiates it in the energy transition. However, European peers like Shell and BP are more aggressive in renewables, potentially leaving ExxonMobil exposed if hydrocarbon demand declines faster than expected. The company's low-cost upstream assets and refining efficiency provide margin resilience, but its slower pivot to renewables compared to competitors may limit long-term positioning in a decarbonizing world. ExxonMobil's financial strength allows for sustained dividends and counter-cyclical investments, but its US-centric operations (vs. global peers) create geopolitical concentration risks.