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Exxon Mobil (NYSE:XOM) Owner Earnings per Share (TTM)

: 14.82 (As of Sep. 2022)
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In 1986 Berkshire Hathaway Shareholder Letter, Warren Buffett defined owner earnings as follows:

"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."

Exxon Mobil's Owner Earnings per Share (TTM) ended in Sep. 2022 was $14.82. It's Price-to-Owner-Earnings ratio for today is 7.41.


The historical rank and industry rank for Exxon Mobil's Owner Earnings per Share (TTM) or its related term are showing as below:

XOM' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 5.79   Med: 17.4   Max: 323.78
Current: 7.42


During the past 13 years, the highest Price-to-Owner-Earnings ratio of Exxon Mobil was 323.78. The lowest was 5.79. And the median was 17.40.


XOM's Price-to-Owner-Earnings is ranked worse than
54.69% of 490 companies
in the Oil & Gas industry
Industry Median: 6.90 vs XOM: 7.42

Exxon Mobil's Earnings per Share (Diluted) for the three months ended in Sep. 2022 was $4.68. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2022 was $12.25. It's PE Ratio ratio for today is 8.97.

Exxon Mobil's EPS without NRI for the three months ended in Sep. 2022 was $4.68. Its EPS without NRI for the trailing twelve months (TTM) ended in Sep. 2022 was $12.25. It's PE Ratio without NRI ratio for today is 8.97.


Exxon Mobil (NYSE:XOM) Owner Earnings per Share (TTM) Historical Data

The historical data trend for Exxon Mobil's Owner Earnings per Share (TTM) can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Exxon Mobil Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Owner Earnings per Share (TTM) Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 4.48 4.08 1.39 7.61

Exxon Mobil Quarterly Data
Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
Owner Earnings per Share (TTM) Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.14 7.61 8.93 11.28 14.82

Exxon Mobil (NYSE:XOM) Owner Earnings per Share (TTM) Competitive Comparison

For the Oil & Gas Integrated subindustry, Exxon Mobil's Owner Earnings per Share (TTM), along with its competitors' market caps and Owner Earnings per Share (TTM) data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Exxon Mobil (NYSE:XOM) Owner Earnings per Share (TTM) Distribution

For the Oil & Gas industry and Energy sector, Exxon Mobil's Owner Earnings per Share (TTM) distribution charts can be found below:

* The bar in red indicates where Exxon Mobil's Owner Earnings per Share (TTM) falls into.



Exxon Mobil Owner Earnings per Share (TTM) Calculation

In 1986 Berkshire Hathaway Shareholder Letter, Warren Buffett defined owner earnings as follows:

"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."

To make it simple, then you will have:

Owner Earnings per Share (TTM) = (Net Income + Depreciation, Depletion and Amortization + Change In Deferred Tax - 5Y Average of Maintenance Capital Expenditure + Change In Working Capital) / Shares Outstanding (Diluted Average)

Exxon Mobil's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income 51,860
Depreciation, Depletion and Amortization 24,637
Change In Deferred Tax 0
5Y Average of Maintenance Capital Expenditure 16,406
Change In Working Capital 1,936
Shares Outstanding (Diluted Average) 4,185

1. Start with "Net Income" from income statement. Exxon Mobil's Net Income for the trailing twelve months (TTM) ended in Sep. 2022 was $51,860 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Exxon Mobil's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Sep. 2022 was $24,637 Mil. This needs to be added back because company does not actually need to pay cash for it. It is a non-cash item.

3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income. Exxon Mobil's Change In Deferred Tax for the trailing twelve months (TTM) ended in Sep. 2022 was $0 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $16,406 Mil

It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.

The following shows how to get maintenance capital expenditure.

First, calculate the revenue change regarding to the previous year. If the revenue decreased from the previous year, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous year, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.

Exxon Mobil's 5-Year Average Maintenance Capital Expenditure = $16,406 Mil

5. "Change In Working Capital" is from cashflow statement. Exxon Mobil's Change In Working Capital for the trailing twelve months (TTM) ended in Sep. 2022 was $1,936 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.

6. Exxon Mobil's Shares Outstanding (Diluted Average) for the months ended in Sep. 2022 was 4185.000 Mil.

Exxon Mobil's Onwer Earnings Per Share for Sep. 2022 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( 51860 +24637+0
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-16406.437712257+1936)/4185.000
=14.82

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=109.86/14.82
=7.41

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Be Aware

Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.

Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.


Exxon Mobil Owner Earnings per Share (TTM) Related Terms

Thank you for viewing the detailed overview of Exxon Mobil's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.


Exxon Mobil (NYSE:XOM) Business Description

Exxon Mobil logo
Industry
Address
5959 Las Colinas Boulevard, Irving, TX, USA, 75039-2298
ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2021, it produced 2.3 million barrels of liquids and 8.5 billion cubic feet of natural gas per day. At the end of 2021, reserves were 18.5 billion barrels of oil equivalent, 66% of which were liquids. The company is the world's largest refiner with a total global refining capacity of 4.6 million barrels of oil per day and one of the world's largest manufacturers of commodity and specialty chemicals.
Executives
Talley Darrin L officer: Vice President 5959 LAS COLINAS BOULEVARD C/O EXXON MOBIL CORPORATION IRVING TX 75039-2298
Ubben Jeffrey W director 1170 GORGAS AVENUE SAN FRANCISCO CA 94129
Mikells Kathryn A officer: Senior Vice President 77 W. WACKER DRIVE CHICAGO IL 60601
Karsner Alexander director C/O APPLIED MATERIALS, INC. 3050 BOWERS AVENUE, P.O. BOX 58039 SANTA CLARA CA 95052-8039
Goff Gregory James director 19100 RIDGEWOOD PARKWAY SAN ANTONIO TX 78259
Hietala Kaisa director 5959 LAS COLINAS BOULEVARD C/O EXXON MOBIL CORPORATION 5959 LAS COLINAS BOULEVARD TX 75039-2298
Gibbs Jon M. officer: Executive Officer 5959 LAS COLINAS BOULEVARD C/O EXXON MOBIL CORPORATION IRVING TX 75039-2298
Fox Leonard M. officer: Vice President and Controller 5959 LAS COLINAS BOULEVARD C/O EXXON MOBIL CORPORATION IRVING TX 75039-2298
Angelakis Michael J director 40 MORRIS AVENUE BRYN MAWR PA 19010
Zulkiflee Wan director 5959 LAS COLINAS BOULEVARD C/O EXXON MOBIL CORPORATION IRVING TX 75039-2298
Morford Craig S officer: Vice President & Gen. Counsel CARDINAL HEALTH, INC. 7000 CARDINAL PLACE DUBLIN OH 43017
Carr Ian S officer: Vice President 5959 LAS COLINAS BOULEVARD C/O EXXON MOBIL CORPORATION IRVING TX 75039-2298
Littleton Stephen A officer: Vice President and Secretary 5959 LAS COLINAS BOULEVARD IRVING TX 75039-2298
Hooley Joseph L director STATE STREET CORPORATION ONE LINCOLN STREET BOSTON MA 02111
Mckee Karen T officer: Vice President 5959 LAS COLINAS BOULEVARD IRVING TX 75039-2298

Exxon Mobil (NYSE:XOM) Headlines

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