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Income StatementBalance SheetCash FlowSegments
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Imperial Oil Business Segments

Business, geographic, and product segment breakdowns

Imperial Oil generates $47.0B in annual revenue across 4 key segments: Chemical ($1.3B), Chemical ($963.0M), Downstream ($52.0B), and Downstream ($45.5B). Based on the Q1 2026 filing.

Chemical (TTM)$1.3BChemical (TTM)$963.0MDownstream (TTM)$52.0BDownstream (TTM)$45.5BUpstream (TTM)$15.5B
Latest FilingQ1 2026
Report Date2026-05-04
Market Cap$58.5B
P/E Ratio20.03
ROE12.38%

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Revenue$2.7B$2.8B$1.9B$2.4B$2.1B$2.2B

Business Segments

Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemical$743M———$758M—
Downstream$4.4B———$4.6B—
Upstream$21.7B———$23.4B—

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Upstream$28B$29.4B$29.4B$28.4B$29.1B$29.9B
Downstream$11.6B$12.3B$11.8B$11.7B$11B$14.1B
Chemical$474M$473M$519M$542M$540M$527M

Capital and exploration expenditures

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Upstream$221M$266M$353M$353M$508M$362M
Downstream$137M$88M$90M$114M$120M$91M
Chemical$19M$3M$1M$4M$3M$3M

Cash flows from (used in) operating activities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$494M$1.4B$641M$319M$1.1B$604M
Upstream$1.3B$201M$1B$1.4B$969M$121M
Chemical$91M$59M-$134M$15M—$25M

Cost

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemical$1B———$1B—
Downstream$7.9B———$8.3B—
Upstream$47.9B———$49.4B—

Costs and Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$13.6B$13.3B$12B$12.6B$11.7B$13.1B
Upstream$3.6B$3.5B$2.9B$3.1B$3.6B$3.4B
Chemical$329M$331M$328M$316M$291M$305M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$14.1B$14B$12.4B$13.2B$12.4B$13.9B
Downstream$12.3B$12.2B$10.9B$11.7B$10.9B$12.1B
Upstream$4.7B$4.5B$3.8B$4.1B$3.6B$4B
Chemical$357M$372M$356M$343M$306M$336M
Chemical$269M$266M$259M$247M$217M$240M

Depreciation and depletion (includes impairments)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Upstream$472M$470M$418M$434M$584M$447M
Downstream$42M$45M$44M$56M$58M$56M
Chemical$4M$4M$4M$4M$4M$4M

Exploration Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Upstream0.0%200000000.0%0.0%100000000.0%400000000.0%300000000.0%
Chemical0.0%0.0%0.0%0.0%0.0%0.0%
Downstream0.0%0.0%0.0%0.0%0.0%0.0%

Federal excise tax and fuel charge

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$626M$591M$370M$379M$370M$347M
Chemical$1M$1M$2M$1M$1M$1M
Upstream$0$0$0$0$0$0

Financing

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemical$0$0$0$0$0$0
Downstream$0$0$0$0$0$0
Upstream$0-$12M$0$3M-$5M$0

Income (loss) before income taxes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream46100000000.0%76500000000.0%42000000000.0%57900000000.0%67900000000.0%80200000000.0%
Upstream112300000000.0%96000000000.0%87000000000.0%96100000000.0%0.0%61600000000.0%
Chemical2800000000.0%4100000000.0%2800000000.0%2700000000.0%1500000000.0%3100000000.0%

Income taxes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$105M$181M$98M$135M$160M$191M
Upstream$245M$229M$206M$233M$0$146M
Chemical$7M$10M$7M$6M$6M$7M

Investment And Other Income Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$27M$21M$15M$31M$14M$19M
Upstream$19M$14M-$4M$3M$1M$1M
Chemical$0$0$0$0$0$0

Net income (loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$356M$584M$322M$444M$519M$611M
Upstream$878M$731M$664M$728M$0$470M
Chemical$21M$31M$21M$21M$9M$24M

Non-service pension and postretirement benefit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemical$0$0$0$0$0$0
Downstream$0$0$0$0$0$0
Upstream$0$0$0$0$0$0

Production And Manufacturing Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Upstream$1.2B$1.2B$1.1B$1.1B$279M$1.2B
Downstream$462M$457M$466M$462M$607M$463M
Chemical$60M$51M$62M$58M$70M$52M

Property, plant and equipment, less accumulated depreciation and depletion

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Chemical$272M———$271M—
Downstream$3.5B———$3.7B—
Upstream$26.3B———$26B—

Purchase of crude oil and products

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$12.3B$12B$11B$11.6B$10.5B$12.1B
Upstream$1.9B$1.9B$1.4B$1.6B$1.4B$1.7B
Chemical$243M$253M$240M$231M$199M$226M

Selling and general

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Downstream$203M$174M$175M$169M$207M$180M
Chemical$21M$22M$20M$22M$17M$22M
Upstream$0$0$0$0$0$0

Impairment charges and contractual obligations expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Upstream————$421M—

Tangible asset impairment charges

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Upstream————$142M—