Imperial Oil Limited (IMO) Financial Ratios
30 years of historical data (1996–2025) · Energy · Oil & Gas Integrated
EV/EBITDA
↑
13.61
↑+182% vs avg
5yr avg: 4.83
30Y Low2.9·High19.9
P/FCF
↑
19.11
↑+120% vs avg
5yr avg: 8.69
30Y Low3.5·High88.4
P/B Ratio
↑
4.09
↑+176% vs avg
5yr avg: 1.48
30Y Low0.7·High6.5
ROE
↑
14.3%
↑-30% vs avg
5yr avg: 20.4%
30Y Low-8%·High46%
Debt/EBITDA
↓
0.62
+0% vs avg
5yr avg: 0.62
30Y Low0.0·High5.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
IMO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Imperial Oil Limited trades at 27.9x earnings, 236% above its 5-year average of 8.3x, sitting at the 97th percentile of its historical range. Compared to the Energy sector median P/E of 17.1x, the stock trades at a premium of 63%. On a free-cash-flow basis, the stock trades at 19.1x P/FCF, 120% above the 5-year average of 8.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $66.1B | $43.5B | $32.7B | $32.9B | $31.2B | $25.7B | $14.0B | $20.2B | $20.5B | $26.4B | $29.5B |
| Enterprise Value | $68.4B | $46.6B | $35.9B | $36.4B | $31.9B | $28.9B | $18.5B | $23.9B | $24.7B | $30.4B | $34.3B |
| P/E Ratio → | 27.88 | 13.32 | 6.83 | 6.74 | 4.29 | 10.28 | — | 8.97 | 8.88 | 53.00 | 13.53 |
| P/S Ratio | 1.91 | 0.92 | 0.67 | 0.68 | 0.55 | 0.72 | 0.68 | 0.63 | 0.62 | 0.96 | 1.26 |
| P/B Ratio | 4.09 | 1.95 | 1.39 | 1.48 | 1.39 | 1.18 | 0.65 | 0.83 | 0.84 | 1.08 | 1.18 |
| P/FCF | 19.11 | 9.26 | 7.94 | 16.90 | 3.48 | 5.88 | — | 7.25 | 8.44 | 14.90 | 31.28 |
| P/OCF | 13.40 | 6.49 | 5.46 | 8.82 | 2.98 | 4.69 | 17.53 | 4.57 | 5.23 | 9.55 | 14.62 |
P/E links to full P/E history page with 30-year chart
IMO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Imperial Oil Limited's enterprise value stands at 13.6x EBITDA, 182% above its 5-year average of 4.8x. The Energy sector median is 8.0x, placing the stock at a 69% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.99 | 0.73 | 0.75 | 0.56 | 0.81 | 0.90 | 0.74 | 0.74 | 1.11 | 1.47 |
| EV / EBITDA | 13.61 | 6.82 | 4.43 | 4.51 | 2.85 | 5.52 | 19.91 | 6.56 | 5.43 | 12.01 | 18.74 |
| EV / EBIT | 21.85 | 10.94 | 5.71 | 5.66 | 3.34 | 8.65 | — | 11.16 | 7.77 | 46.09 | 13.65 |
| EV / FCF | — | 9.91 | 8.72 | 18.69 | 3.56 | 6.61 | — | 8.54 | 10.17 | 17.18 | 36.45 |
IMO Profitability
Margins and return-on-capital ratios measuring operating efficiency
Imperial Oil Limited earns an operating margin of 9.0%, below the Energy sector average of 14.4%. Operating margins have compressed from 12.8% to 9.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 14.3% is modest. ROIC of 12.3% represents solid returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.2% | 21.2% | 14.5% | 14.7% | 17.8% | 11.6% | -7.7% | 9.7% | 12.3% | 5.6% | 6.6% |
| Operating Margin | 9.0% | 9.0% | 12.5% | 12.8% | 16.2% | 9.1% | — | 6.3% | 9.1% | 1.3% | 0.9% |
| Net Profit Margin | 6.9% | 6.9% | 9.8% | 10.1% | 12.8% | 7.0% | -9.0% | 6.8% | 6.9% | 1.8% | 9.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.3% | 14.3% | 21.0% | 21.9% | 33.3% | 11.5% | -8.1% | 9.0% | 9.5% | 2.0% | 8.9% |
| ROA | 7.7% | 7.7% | 11.4% | 11.5% | 17.4% | 6.3% | -4.6% | 5.3% | 5.6% | 1.2% | 5.1% |
| ROIC | 12.3% | 12.3% | 17.5% | 19.0% | 29.0% | 9.6% | — | 5.4% | 8.0% | 0.9% | 0.5% |
| ROCE | 11.9% | 11.9% | 17.3% | 17.8% | 26.6% | 9.3% | — | 5.4% | 8.1% | 1.0% | 0.5% |
IMO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Imperial Oil Limited carries a Debt/EBITDA ratio of 0.6x, which is very conservative (74% below the sector average of 2.4x). Net debt stands at $3.1B ($4.2B total debt minus $1.1B cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.19 | 0.19 | 0.18 | 0.20 | 0.20 | 0.24 | 0.25 | 0.22 | 0.21 | 0.21 | 0.21 |
| Debt / EBITDA | 0.62 | 0.62 | 0.51 | 0.54 | 0.40 | 1.02 | 5.68 | 1.47 | 1.14 | 2.07 | 2.87 |
| Net Debt / Equity | — | 0.14 | 0.14 | 0.16 | 0.03 | 0.15 | 0.21 | 0.15 | 0.17 | 0.17 | 0.19 |
| Net Debt / EBITDA | 0.45 | 0.45 | 0.39 | 0.43 | 0.06 | 0.61 | 4.85 | 0.99 | 0.93 | 1.59 | 2.66 |
| Debt / FCF | — | 0.66 | 0.77 | 1.79 | 0.08 | 0.73 | — | 1.29 | 1.74 | 2.28 | 5.17 |
| Interest Coverage | — | — | 153.17 | 93.30 | 159.07 | 61.80 | -36.63 | 23.00 | 29.45 | 8.46 | 34.94 |
IMO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.27x means Imperial Oil Limited can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.94x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.27 | 1.27 | 1.33 | 1.26 | 1.21 | 1.41 | 1.34 | 1.38 | 1.35 | 1.31 | 0.99 |
| Quick Ratio | 0.94 | 0.94 | 0.96 | 0.81 | 0.95 | 1.08 | 0.80 | 0.96 | 0.89 | 0.94 | 0.62 |
| Cash Ratio | 0.17 | 0.17 | 0.14 | 0.13 | 0.42 | 0.39 | 0.23 | 0.37 | 0.25 | 0.29 | 0.10 |
| Asset Turnover | — | 1.11 | 1.14 | 1.17 | 1.31 | 0.87 | 0.54 | 0.76 | 0.80 | 0.66 | 0.56 |
| Inventory Turnover | 16.76 | 16.76 | 15.96 | 13.95 | 20.74 | 17.57 | 12.06 | 15.20 | 15.90 | 17.27 | 15.42 |
| Days Sales Outstanding | — | 33.92 | 43.05 | 33.87 | 30.09 | 39.69 | 34.09 | 30.60 | 27.72 | 36.06 | 31.56 |
IMO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Imperial Oil Limited returns 5.1% to shareholders annually — split between a 1.5% dividend yield and 3.6% buyback yield. A payout ratio of 42.9% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 3.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.5% | 3.2% | 3.8% | 3.3% | 2.7% | 2.7% | 4.6% | 3.1% | 2.8% | 2.0% | 1.7% |
| Payout Ratio | 42.9% | 42.9% | 25.8% | 22.6% | 11.6% | 28.5% | — | 28.7% | 24.7% | 106.9% | 22.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 7.5% | 14.6% | 14.8% | 23.3% | 9.7% | — | 11.1% | 11.3% | 1.9% | 7.4% |
| FCF Yield | 5.2% | 10.8% | 12.6% | 5.9% | 28.7% | 17.0% | — | 13.8% | 11.9% | 6.7% | 3.2% |
| Buyback Yield | 3.6% | 7.4% | 8.2% | 11.5% | 20.5% | 8.7% | 2.0% | 6.8% | 9.6% | 2.4% | 0.0% |
| Total Shareholder Yield | 5.1% | 10.6% | 12.0% | 14.9% | 23.2% | 11.5% | 6.6% | 9.9% | 12.4% | 4.4% | 1.7% |
| Shares Outstanding | — | $504M | $531M | $576M | $640M | $712M | $735M | $765M | $810M | $846M | $848M |
Peer Comparison
Compare IMO with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 IMOYou | $66B | 27.9 | 13.6 | 19.1 | 21.2% | 9.0% | 14.3% | 12.3% | 0.6 |
 CVE | $57B | 19.2 | 9.4 | 22.9 | 10.5% | 8.8% | 12.8% | 7.9% | 1.7 |
 SU | $83B | 19.5 | 5.5 | 16.3 | 59.1% | 31.7% | 13.2% | 20.1% | 0.8 |
 CNQ | $100B | 12.6 | 8.6 | 16.1 | 23.3% | 21.2% | 25.8% | 10.0% | 1.1 |
 MEG | $766M | -152.4 | 13.2 | 8.4 | 34.1% | 1.5% | -0.2% | 1.5% | 1.3 |
 MPC | $77B | 19.6 | 11.9 | 16.1 | 7.5% | 4.3% | 16.7% | 8.3% | 3.8 |
 VLO | $76B | 33.5 | 11.1 | 15.1 | 4.4% | 3.5% | 8.7% | 9.5% | 1.6 |
 PSX | $72B | 16.7 | 13.8 | 26.5 | 4.9% | 2.7% | 15.0% | 5.3% | 3.4 |
 PBF | $5B | -33.2 | 12.8 | — | -1.9% | -0.2% | -2.8% | -0.5% | 4.8 |
 XOM | $656B | 23.1 | 11.5 | 27.8 | 21.7% | 10.5% | 10.7% | 8.6% | 0.7 |
 HAL | $35B | 27.8 | 12.0 | 20.8 | 15.7% | 10.2% | 12.2% | 10.2% | 2.4 |
| Energy Median | — | 17.1 | 8.0 | 13.8 | 33.2% | 14.4% | 8.5% | 6.3% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonIMO — Frequently Asked Questions
Quick answers to the most common questions about buying IMO stock.
What is Imperial Oil Limited's P/E ratio?
Imperial Oil Limited's current P/E ratio is 27.9x. The historical average is 13.1x. This places it at the 97th percentile of its historical range.
What is Imperial Oil Limited's EV/EBITDA?
Imperial Oil Limited's current EV/EBITDA is 13.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.6x.
What is Imperial Oil Limited's ROE?
Imperial Oil Limited's return on equity (ROE) is 14.3%. The historical average is 21.1%.
Is IMO stock overvalued?
Based on historical data, Imperial Oil Limited is trading at a P/E of 27.9x. This is at the 97th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Imperial Oil Limited's dividend yield?
Imperial Oil Limited's current dividend yield is 1.54% with a payout ratio of 42.9%.
What are Imperial Oil Limited's profit margins?
Imperial Oil Limited has 21.2% gross margin and 9.0% operating margin.
How much debt does Imperial Oil Limited have?
Imperial Oil Limited's Debt/EBITDA ratio is 0.6x, indicating low leverage. A ratio below 2x is generally considered financially healthy.