GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Exxon Mobil Corp (WBO:XOM) » Definitions » Operating Income

Exxon Mobil (WBO:XOM) Operating Income : €36,656 Mil (TTM As of Mar. 2024)


View and export this data going back to 2017. Start your Free Trial

What is Exxon Mobil Operating Income?

Exxon Mobil's Operating Income for the three months ended in Mar. 2024 was €9,125 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was €36,656 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Exxon Mobil's Operating Income for the three months ended in Mar. 2024 was €9,125 Mil. Exxon Mobil's Revenue for the three months ended in Mar. 2024 was €73,978 Mil. Therefore, Exxon Mobil's Operating Margin % for the quarter that ended in Mar. 2024 was 12.33%.

Exxon Mobil's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Exxon Mobil's annualized ROC % for the quarter that ended in Mar. 2024 was 9.65%. Exxon Mobil's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 23.41%.


Exxon Mobil Operating Income Historical Data

The historical data trend for Exxon Mobil's Operating Income 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 Operating Income Chart

Exxon Mobil Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 10,377.90 -25,196.77 20,561.21 59,987.42 40,116.00

Exxon Mobil Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Operating Income Get a 7-Day Free Trial 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 13,115.23 9,032.48 10,942.29 7,557.00 9,124.56

Exxon Mobil Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was €36,656 Mil.

* 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.


Exxon Mobil  (WBO:XOM) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Exxon Mobil's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

ROC % (Q: Mar. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Mar. 2024 ))/ count )
=36498.24 * ( 1 - 30.75% )/( (260242.766 + 263826.56)/ 2 )
=25275.0312/262034.663
=9.65 %

where

Invested Capital(Q: Dec. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=345082.689 - 56144.242 - ( 28921.263 - max(0, 59894.772 - 88590.453+28921.263))
=260242.766

Invested Capital(Q: Mar. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=347684.56 - 58598.48 - ( 30654.4 - max(0, 66167.32 - 91426.84+30654.4))
=263826.56

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Exxon Mobil's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Mar. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=46331.2/( ( (197099.98 + max(-3553.375, 0)) + (196625.16 + max(2173.96, 0)) )/ 2 )
=46331.2/( ( 197099.98 + 198799.12 )/ 2 )
=46331.2/197949.55
=23.41 %

where Working Capital is:

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27781.432 + 23035.04 + 1774.395) - (56144.242 + 0 + 0)
=-3553.375

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(37136.72 + 21611.72 + 2024) - (58598.48 + 0 + 0)
=2173.96

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Exxon Mobil's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2024 )/Revenue (Q: Mar. 2024 )
=9124.56/73978.12
=12.33 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Exxon Mobil Operating Income Related Terms

Thank you for viewing the detailed overview of Exxon Mobil's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.


Exxon Mobil (WBO:XOM) Business Description

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 2022, it produced 2.4 million barrels of liquids and 8.3 billion cubic feet of natural gas per day. At the end of 2022, reserves were 17.7 billion barrels of oil equivalent, 65% 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 is one of the world's largest manufacturers of commodity and specialty chemicals.

Exxon Mobil (WBO:XOM) Headlines

From GuruFocus

Q3 2020 Exxon Mobil Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Q4 2021 Exxon Mobil Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Q4 2020 Exxon Mobil Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Q1 2021 Exxon Mobil Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Exxon Mobil Corp Low Carbon Solutions Spotlight Transcript

By GuruFocus Research 01-23-2024

Q4 2022 Exxon Mobil Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Exxon Mobil Corp Annual Shareholders Meeting Transcript

By GuruFocus Research 01-23-2024

Q1 2020 Exxon Mobil Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024

Q2 2020 Exxon Mobil Corp Earnings Call Transcript

By GuruFocus Research 01-23-2024