Liability Adjusted Cash Flow Yield: 5.1% Dividend Yield: 2.44% LACFY/10-Year Treasury Yield: 2.46 Return on Invested Capital: 14% For whatever reason, Exxon Mobil ( XOM) often trades at a discount to its peers while generating industry leading returns on capital. From a total return perspective, Chevron ( CVX) has trounced Exxon during the last five years and solidly outperformed in the last decade. Therein lies the investor's dilemma: Do you buy Chevron over Exxon despite the fact that the former is half as effective at investing capital (and 46% more expensive on a cash flow basis)? Or do you stick with the undervalued Exxon in the hope that the market will recognize Exxon's value. One answer will prove correct, but no matter the answer, Exxon is poised to deliver investors with reasonable returns into the future.