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Exxon Mobil (WBO:XOM) Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Exxon Mobil has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Exxon Mobil's Piotroski F-Score or its related term are showing as below:

WBO:XOM' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of Exxon Mobil was 9. The lowest was 2. And the median was 6.


Exxon Mobil Piotroski F-Score Historical Data

The historical data trend for Exxon Mobil's Piotroski F-Score 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 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.00 3.00 3.00 9.00 8.00

Exxon Mobil Quarterly Data
Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22
Piotroski F-Score 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 9.00 9.00 8.00 9.00 8.00

Competitive Comparison

For the Oil & Gas Integrated subindustry, Exxon Mobil's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score Distribution

For the Oil & Gas industry and Energy sector, Exxon Mobil's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Exxon Mobil's Piotroski F-Score falls in comparison to its industry or sector. The grey bar indicates the Piotroski F-Score's extreme value range as defined by GuruFocus.


How is the Piotroski F-Score calculated?

* 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.

This Year (Dec22) TTM:Last Year (Dec21) TTM:
Net Income was 4975.8400000139 + 16886.1000005 + 19856.60000002 + 12035.999999981 = €53,755 Mil.
Cash Flow from Operations was 13427.504000038 + 18884.998000559 + 24669.250000025 + 16634.223999973 = €73,616 Mil.
Revenue was 79662.472000223 + 105256.69000312 + 107577.12000011 + 87946.815999859 = €380,443 Mil.
Gross Profit was 14729.576000041 + 28867.190000854 + 29649.56000003 + 25463.455999959 = €98,710 Mil.
Average Total Assets from the begining of this year (Dec21)
to the end of this year (Dec22) was
(299946.8550066 + 322132.0680009 + 347914.2040103 + 373853.52000037 + 348399.24799944) / 5 = €338449.17900352 Mil.
Total Assets at the begining of this year (Dec21) was €299,947 Mil.
Long-Term Debt & Capital Lease Obligation was €38,288 Mil.
Total Current Assets was €92,164 Mil.
Total Current Liabilities was €65,178 Mil.
Net Income was 2293.1999999541 + 3892.7000000272 + 5737.5000001721 + 7849.9500001727 = €19,773 Mil.

Revenue was 48343.679999033 + 54732.690000383 + 61108.200001833 + 71954.925001583 = €236,139 Mil.
Gross Profit was 9983.3999998003 + 12608.530000088 + 15672.30000047 + 17144.220000377 = €55,408 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Dec21) was
(273520.49999223 + 280366.79999439 + 279949.87000196 + 286184.80000859 + 299946.8550066) / 5 = €283993.76500075 Mil.
Total Assets at the begining of last year (Dec20) was €273,520 Mil.
Long-Term Debt & Capital Lease Obligation was €38,434 Mil.
Total Current Assets was €52,351 Mil.
Total Current Liabilities was €50,129 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Exxon Mobil's current Net Income (TTM) was 53,755. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Exxon Mobil's current Cash Flow from Operations (TTM) was 73,616. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec21)
=53754.540000514/299946.8550066
=0.17921355

ROA (Last Year)=Net Income/Total Assets (Dec20)
=19773.350000326/273520.49999223
=0.07229202

Exxon Mobil's return on assets of this year was 0.17921355. Exxon Mobil's return on assets of last year was 0.07229202. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Exxon Mobil's current Net Income (TTM) was 53,755. Exxon Mobil's current Cash Flow from Operations (TTM) was 73,616. ==> 73,616 > 53,755 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=38287.695999939/338449.17900352
=0.11312687

Gearing (Last Year: Dec21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Dec21
=38433.780000846/283993.76500075
=0.13533318

Exxon Mobil's gearing of this year was 0.11312687. Exxon Mobil's gearing of last year was 0.13533318. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec22)=Total Current Assets/Total Current Liabilities
=92163.663999853/65178.479999896
=1.41401984

Current Ratio (Last Year: Dec21)=Total Current Assets/Total Current Liabilities
=52351.290001152/50129.055001103
=1.04433028

Exxon Mobil's current ratio of this year was 1.41401984. Exxon Mobil's current ratio of last year was 1.04433028. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Exxon Mobil's number of shares in issue this year was 4419. Exxon Mobil's number of shares in issue last year was 4259. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=98709.782000885/380443.09800331
=0.25946004

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=55408.450000736/236139.49500283
=0.23464287

Exxon Mobil's gross margin of this year was 0.25946004. Exxon Mobil's gross margin of last year was 0.23464287. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec21)
=380443.09800331/299946.8550066
=1.26836835

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec20)
=236139.49500283/273520.49999223
=0.86333381

Exxon Mobil's asset turnover of this year was 1.26836835. Exxon Mobil's asset turnover of last year was 0.86333381. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+0+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Exxon Mobil has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Exxon Mobil  (WBO:XOM) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Exxon Mobil Piotroski F-Score Related Terms

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Exxon Mobil (WBO:XOM) Business Description

Exxon Mobil logo
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.

Exxon Mobil (WBO:XOM) Headlines