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Exxon Mobil (WBO:XOM) ROC (Joel Greenblatt) % : 23.41% (As of Mar. 2024)


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What is Exxon Mobil ROC (Joel Greenblatt) %?

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Exxon Mobil's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 23.41%.

The historical rank and industry rank for Exxon Mobil's ROC (Joel Greenblatt) % or its related term are showing as below:

WBO:XOM' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -11.53   Med: 10.77   Max: 37.29
Current: 23.32

During the past 13 years, Exxon Mobil's highest ROC (Joel Greenblatt) % was 37.29%. The lowest was -11.53%. And the median was 10.77%.

WBO:XOM's ROC (Joel Greenblatt) % is ranked better than
76.57% of 1050 companies
in the Oil & Gas industry
Industry Median: 9.835 vs WBO:XOM: 23.32

Exxon Mobil's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.


Exxon Mobil ROC (Joel Greenblatt) % Historical Data

The historical data trend for Exxon Mobil's ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % Chart

Exxon Mobil Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.45 -10.98 15.03 38.53 25.20

Exxon Mobil Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
ROC (Joel Greenblatt) % 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 32.85 22.69 26.70 20.41 23.41

Competitive Comparison of Exxon Mobil's ROC (Joel Greenblatt) %

For the Oil & Gas Integrated subindustry, Exxon Mobil's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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's ROC (Joel Greenblatt) % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Exxon Mobil's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Exxon Mobil's ROC (Joel Greenblatt) % falls into.



Exxon Mobil ROC (Joel Greenblatt) % Calculation

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:

ROC (Joel Greenblatt) %=EBIT/Average of (Net fixed Assets + Net Working Capital)

EBIT stands for Earnings Before Interest and Taxes.

Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.

GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.

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.

So ROC (Joel Greenblatt) % of Exxon Mobil for the quarter that ended in Mar. 2024 can be restated 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 %

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

* 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) ROC (Joel Greenblatt) % Explanation

The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.


Exxon Mobil ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Exxon Mobil's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Exxon Mobil (WBO:XOM) Business Description

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 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.

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