XOM · Q2 FY2026
ExxonMobil Holdings Corp Q2 FY2026 earnings analysis
| Metric | Actual | Estimate | Result |
|---|---|---|---|
| Revenue | $116.017B (H1 FY2026) | Q2 FY2025 not disclosed (yr ago) | Miss |
| EPS | $3.48 diluted (H1 FY2026) | Q2 FY2025 not disclosed (yr ago) | Miss |
| Free Cash Flow | Not meaningful under supplied financial-company framework | Not meaningful (yr ago) | Miss |
| Gross Margin | Not meaningful under supplied financial-company framework | Not meaningful (yr ago) | Miss |
| Operating Margin | Not disclosed; pre-tax margin required | Q2 FY2025 not disclosed (yr ago) | Miss |
What changed
The supplied Q2 filing points show H1 FY2026 revenue of $116.017 billion, net income of $14.525 billion and diluted EPS of $3.48. No quarterly table, prior-year comparison or management guidance was supplied, so the release cannot be classified as a beat or miss; the absence of comparable quarterly data makes the update neutral rather than evidence of a changed earnings trajectory.
Impact on the investment thesis
With no prior SageNoodle fair value and insufficient quarter-specific evidence to revise normalized earnings, we establish fair value at $153.12 using an explicitly assumed annualization of H1 EPS and a 22.0x base multiple. The shares are fairly valued at $165.23, and this quarter does not justify a valuation change beyond establishing that initial benchmark.