ExxonMobil Holdings (TSX:XOM) Cyclically Adjusted PS Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSX:XOM ExxonMobil Holdings Corp TSX:XOM
76 GF Score
Price C$29.30
GF Value C$23.11
Valuation Modestly Overvalued
! 4 Warning Signs
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What is ExxonMobil Holdings Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


ExxonMobil Holdings  (TSX:XOM) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


ExxonMobil Holdings Cyclically Adjusted PS Ratio Related Terms


ExxonMobil Holdings Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for ExxonMobil Holdings's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

ExxonMobil Holdings Cyclically Adjusted PS Ratio Chart

ExxonMobil Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 0.19 0.20 0.21

ExxonMobil Holdings Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.20 0.20 0.21 0.29 0.23

TSX:XOM vs CVX, NFG, DEC: Cyclically Adjusted PS Ratio Comparison

For the Oil & Gas Integrated subindustry, ExxonMobil Holdings's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


ExxonMobil Holdings Cyclically Adjusted PS Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, ExxonMobil Holdings's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where ExxonMobil Holdings's Cyclically Adjusted PS Ratio falls into.


TSX:XOM
76GF Score
ExxonMobil Holdings Corp TSX:XOM
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

ExxonMobil Holdings Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

ExxonMobil Holdings's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, ExxonMobil Holdings's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=37.488/333.9520*333.9520
=37.488

Current CPI (Jun. 2026) = 333.9520.

ExxonMobil Holdings Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 16.024 241.428 22.165
201612 16.923 241.432 23.408
201703 17.698 243.801 24.242
201706 17.631 244.955 24.037
201709 17.439 246.819 23.595
201712 19.443 246.524 26.338
201803 19.383 249.554 25.938
201806 21.605 251.989 28.632
201809 22.731 252.439 30.071
201812 21.047 251.233 27.977
201903 19.278 254.202 25.326
201906 21.132 256.143 27.551
201909 19.566 256.759 25.448
201912 19.585 256.974 25.452
202003 16.978 258.115 21.966
202006 10.559 257.797 13.678
202009 14.270 260.280 18.309
202012 14.038 260.474 17.998
202103 17.210 264.877 21.698
202106 19.262 271.696 23.676
202109 21.650 274.310 26.357
202112 24.158 278.802 28.937
202203 26.802 287.504 31.132
202206 33.966 296.311 38.281
202209 32.941 296.808 37.063
202212 30.164 296.797 33.940
202303 27.365 301.836 30.277
202306 26.584 305.109 29.097
202309 29.853 307.789 32.391
202312 27.385 306.746 29.814
202403 27.391 312.332 29.287
202406 28.549 314.175 30.346
202409 26.626 315.301 28.201
202412 25.831 315.605 27.333
202503 26.596 319.799 27.773
202506 25.247 322.561 26.139
202509 26.791 324.800 27.546
202512 26.334 324.054 27.138
202603 28.388 330.213 28.709
202606 37.488 333.952 37.488

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is ExxonMobil Holdings (TSX:XOM) Overvalued in 2026?

Based on GuruFocus' analysis, ExxonMobil Holdings stock appears to be overvalued. The current stock price of C$29.30 is trading 26.8% above its estimated GF Value™ of C$23.11. GuruFocus considers ExxonMobil Holdings to be Modestly Overvalued.

Key valuation signals for TSX:XOM:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: C$23.11 vs. price of C$29.30 (26.8% above fair value)
  • GF Score™: 76/100 with 4 warning signs

No single metric tells the full story. See the TSX:XOM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


ExxonMobil Holdings Business Description

Industry EnergyOil & Gas
Address 22777 Springwoods Village Parkway, Spring, TX, USA, 77389-1425
ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil worldwide. In 2025, it produced 3.3 million barrels of liquids and 8.4 billion cubic feet of natural gas per day. At the end of 2025, reserves were 19.3 billion barrels of oil equivalent, 69% of which were liquids. The company is one of the world's largest refiners, with a total global refining capacity of 4.1 million barrels of oil per day, and is one of the world's largest manufacturers of commodity and specialty chemicals.
76GF Score

Get the complete analysis for TSX:XOM

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$29.30
Price
C$23.11
GF Value