XOM · Forward model · Corporate and Financing
What has to happen in Corporate and Financing
Model as of
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Corporate and Financing
Basis quarter$24M
Final quarter$24M
Implied CAGR0%
Final revenue mix0%
Not an operating business. It carries interest and other corporate revenue, which has fallen from $581M a quarter in 2024 Q1 to $24M in the basis quarter as the cash balance went from $23.2B to $10.6B. It exists in this model for one reason: so the five verticals add exactly to reported Total revenues and other income.
Last four quarters
2025 Q3
$194M
Reported
2025 Q4
$235M
Estimated
2026 Q1
$170M
Reported
2026 Q2
$24M
Reported
Interest and other corporate income
Sequential growth
0.0%/qtr
decaying toward 0.0%
Flat at the disclosed $24M. Interest income on a falling cash balance, with no operating driver behind it.
Corporate and Financing
Latest: $24M (2031Q2E)
| Period | Value |
|---|---|
| 2024Q1 | $581M |
| 2024Q2 | $551M |
| 2024Q3 | $413M |
| 2024Q4 | $308M |
| 2025Q1 | $316M |
| 2025Q2 | $289M |
| 2025Q3 | $194M |
| 2025Q4 | $235M |
| 2026Q1 | $170M |
| 2026Q2 | $24M |
| 2026Q3E | $24M |
| 2026Q4E | $24M |
| 2027Q1E | $24M |
| 2027Q2E | $24M |
| 2027Q3E | $24M |
| 2027Q4E | $24M |
| 2028Q1E | $24M |
| 2028Q2E | $24M |
| 2028Q3E | $24M |
| 2028Q4E | $24M |
| 2029Q1E | $24M |
| 2029Q2E | $24M |
| 2029Q3E | $24M |
| 2029Q4E | $24M |
| 2030Q1E | $24M |
| 2030Q2E | $24M |
| 2030Q3E | $24M |
| 2030Q4E | $24M |
| 2031Q1E | $24M |
| 2031Q2E | $24M |
Assumptions & reasoning
- Held flat at the disclosed $24M rather than extrapolated. The line is 0.02% of consolidated revenue in the basis quarter and any growth rate placed on it would be an invention.
- Low Carbon Solutions - carbon capture, hydrogen, lithium, Proxxima and low-carbon data centres - has no disclosed revenue line anywhere and is deliberately not given one here. It is scenario evidence, not a sixth vertical.
- The $90M a quarter of Other cash capital expenditures is carried as a corporate programme rather than as an intensity on this line, because it belongs to no vertical: $90M against $24M of revenue is a 375% ratio with no economic meaning, and the programme keeps the spend in free cash flow where it belongs.