The latest data point for XOM shows a P/B Ratio of 2.504 for the Q1'26 fiscal period. This represents the highest valuation level recorded within the observed timeframe, continuing a sharp upward trajectory from the previous quarter. From Q2'23 to Q1'26, the P/B Ratio experienced a period of moderate decline followed by a significant recent recovery. After peaking at 2.298 in Q1'24, the ratio trended downward to a low of 1.694 in Q1'25; however, the trend reversed sharply starting in Q3'25, with the ratio surging from 1.841 to 2.504 by Q1'26.