IMO
EnergyImperial Oil Limited · Oil & Gas Integrated · $66B
What is Imperial Oil Limited?
Imperial Oil Limited is one of Canada's largest integrated energy companies, operating across the full oil and gas value chain — from exploration and production through refining, distribution, and petrochemicals.
Imperial Oil generates revenue through three segments. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. The Downstream segment refines crude oil and distributes petroleum products — including fuel, asphalt, and lubricants — through roughly 2,400 Esso and Mobil-branded retail sites across Canada. The Chemical segment manufactures and markets petrochemicals, solvents, and plasticizer intermediates, serving industrial and commercial customers.
Incorporated in 1980 and headquartered in Calgary, Canada, Imperial Oil has deep roots in the Canadian energy landscape.
- Crude oil and natural gas exploration and production
- Petroleum refining and blending
- Esso and Mobil-branded retail fuel distribution
- Industrial fuels, asphalt, and lubricants
- Petrochemicals and aromatic solvents
Is IMO a Good Stock to Buy?
UQS Score rates IMO as Below Average overall, reflecting meaningful headwinds across several key quality dimensions.
Imperial Oil's strongest areas are Quality and Risk, suggesting the business maintains reasonable operational discipline and a manageable financial risk profile relative to sector peers. These pillars provide a degree of stability that integrated energy companies often rely on through commodity cycles.
The Moat and Growth pillars both register as Weak, indicating limited competitive differentiation and constrained near-term expansion prospects — a common challenge for mature, commodity-exposed producers.
Pro members can see the exact pillar breakdown and full financial metrics behind IMO's UQS Score. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does IMO pay dividends?
Yes — Imperial Oil Limited pays a dividend.
Imperial Oil pays a regular dividend, consistent with its profile as a large, integrated energy company generating recurring cash flows from refining and production. Dividends reflect the company's capacity to return capital to shareholders even through commodity price cycles. Investors seeking income from the Canadian energy sector may find IMO's dividend cadence relevant to their screening.
When does IMO report earnings?
Imperial Oil reports earnings on a quarterly cadence, typical for Canadian-listed integrated energy companies.
Results tend to reflect swings in crude oil prices, refining margins, and downstream volumes — all of which can shift meaningfully quarter to quarter. The integrated model provides some natural hedge between upstream and downstream performance.
For the most recent quarter's results and guidance, visit Imperial Oil's investor relations page directly.
IMO Price History
+325.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Imperial Oil Limited?
Based on Imperial Oil Limited's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
IMO Long-term Outlook
Imperial Oil's Growth pillar registers as Weak, pointing to limited near-term expansion catalysts in a mature Canadian upstream and refining environment. The Risk pillar, however, is rated Good, suggesting the balance sheet and operational structure provide some resilience. The outlook is shaped more by commodity price dynamics and capital allocation discipline than by organic volume growth.
Growth drivers
- Downstream refining margins benefiting from integrated operations
- Ongoing bitumen and oil sands production from established assets
- Petrochemical demand tied to Canadian industrial activity
Key risks
- Weak Moat pillar signals limited pricing power versus peers
- Commodity price volatility compressing upstream margins
- Neutral Valuation suggests limited margin of safety at current levels
IMO vs Peers
Imperial Oil operates in a competitive Canadian and global energy landscape alongside several large integrated and upstream-focused peers.
Cenovus has pursued aggressive acquisition-led growth, giving it a larger oil sands footprint and downstream refining capacity than Imperial.
Suncor is Canada's largest integrated oil company, with a broader retail network and more diversified downstream operations than Imperial.
Eni is a global supermajor with international upstream exposure and an accelerating energy transition strategy, contrasting with Imperial's Canada-focused model.
Frequently Asked Questions
What does Imperial Oil do?
Imperial Oil is a Canadian integrated energy company. It explores for and produces crude oil and natural gas, refines petroleum products, and distributes fuel and lubricants through Esso and Mobil-branded sites. It also manufactures petrochemicals for industrial customers.
Does IMO pay dividends?
Yes, Imperial Oil pays a regular dividend. The company's integrated business model — combining upstream production with downstream refining — supports recurring cash generation, which the company uses in part to return capital to shareholders.
When does IMO report earnings?
Imperial Oil reports on a quarterly cadence, consistent with Canadian-listed energy companies. Exact dates vary each quarter. For upcoming reporting dates, check Imperial Oil's investor relations page.
Is IMO a good stock to buy?
UQS Score rates IMO as Below Average, driven by Weak scores in Moat and Growth. Quality and Risk are rated Good, providing some stability. Whether it fits your portfolio depends on your income needs, commodity outlook, and risk tolerance. The full pillar breakdown is available to Pro members.
Is IMO overvalued?
IMO's Valuation pillar is rated Neutral, suggesting the stock is neither clearly cheap nor obviously expensive relative to its fundamentals. Investors looking for a deeper margin of safety may want to review the complete valuation metrics available in the Pro analysis.
How does IMO compare to its competitors?
Compared to peers like Suncor and Cenovus, Imperial Oil is a more focused Canadian operator with a smaller overall scale. Suncor and Cenovus both have larger asset bases and broader downstream reach. Eni operates globally with a different risk and growth profile entirely.
What is IMO's market cap bracket?
Imperial Oil is classified as a large-cap company, reflecting its significant scale within the Canadian energy sector and its long-established presence across upstream, downstream, and chemical operations.
Who founded Imperial Oil?
Imperial Oil's origins trace back to the late nineteenth century in Canada, making it one of the country's oldest energy companies. Its current corporate structure dates to 1980. Founding details are widely available through public historical records and the company's own corporate history.
Is IMO a long-term quality investment?
As a long-term quality indicator, IMO's UQS profile shows mixed signals. Good scores in Quality and Risk suggest operational and financial resilience, but Weak Moat and Growth scores raise questions about durable competitive advantage and expansion potential over a long horizon.
What is the main competitive advantage of Imperial Oil?
Imperial Oil's integration across upstream production, refining, and retail distribution provides some natural hedging across commodity cycles. Its Esso and Mobil-branded network gives it established retail reach across Canada, though the Moat pillar rates this advantage as Weak relative to sector peers.
What sector does IMO belong to?
Imperial Oil belongs to the Energy sector, specifically operating as an integrated oil and gas company. It spans exploration and production, petroleum refining and distribution, and petrochemical manufacturing — all within the Canadian market.
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Pro Analysis
IMO — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 43.0 | 45.9 | 25.0 | 21.3 | 73.5 | 66.5 | +0.1 |
| May 21, 2026 | 42.9 | 45.9 | 25.0 | 21.3 | 73.5 | 65.6 | +0.2 |
| May 19, 2026 | 42.7 | 45.8 | 25.0 | 21.3 | 73.5 | 64.5 | -0.2 |
| May 17, 2026 | 42.9 | 45.8 | 25.0 | 21.3 | 73.5 | 65.8 | -0.1 |
| May 14, 2026 | 43.0 | 46.1 | 25.0 | 20.7 | 73.5 | 66.8 | +0.2 |
| May 12, 2026 | 42.8 | 46.2 | 25.0 | 20.6 | 73.5 | 65.9 | -0.2 |
| May 11, 2026 | 43.0 | 46.4 | 25.0 | 20.6 | 73.5 | 66.9 | -0.1 |
| May 10, 2026 | 43.1 | 46.4 | 25.0 | 20.6 | 73.5 | 67.3 | -1.5 |
| May 7, 2026 | 44.6 | 52.5 | 25.0 | 20.2 | 73.9 | 67.2 | -0.1 |
| May 4, 2026 | 44.7 | 52.5 | 25.0 | 21.0 | 73.9 | 67.1 | +1.7 |
IMO — Pillar Breakdown
Quality
— 45.9/100 (25%)Imperial Oil Limited has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 21.3/100 (20%)Imperial Oil Limited faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 73.5/100 (15%)Imperial Oil Limited maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 66.8/100 (15%)Imperial Oil Limited trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 25/100 (25%)Imperial Oil Limited operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for IMO.
Score Composition
Financial Data
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How is the IMO UQS Score Calculated?
The UQS (Unified Quality Score) for Imperial Oil Limited is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Imperial Oil Limited's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Imperial Oil Limited is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.