Here is how this compares to the companys peers: As we can clearly see, all of these companies stocks appear quite cheap relative to their forward earnings per share growth. This ratio tells us the degree to which a company is financing its operations with debt as opposed to wholly-owned funds. That gives the company a price-to-earnings growth ratio of 0.55 at the current price. XOM | Exxon Mobil Corp. Annual Income Statement | MarketWatch After all, higher production means that the company had more products that it could sell in exchange for money. IRVING, Texas April 28, 2023 Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. Overall, Exxon Mobil continues to be a solid investment prospect with a very reasonable valuation. This represents a 108.58% increase over the $5.480 billion that the company reported in the first quarter of 2022. That nearly completely offsets the year-over-year production increase that we saw here. However both companies saw revenue slip compared to a year ago, as the two U.S. majors come off booming profits last year. Please do not hesitate to contact me. I have no business relationship with any company whose stock is mentioned in this article. Data delayed Indeed, new CAP analysis of recent Fortune 100 investor filings finds that 19 of the largest profitable corporations in America are paying effective tax rates that are in the single digitsor paying nothing at all. The Motley Fool has positions in and recommends Linde Plc. Income statements, balance sheets, cash flow statements and key ratios. Learn more about how Statista can support your business. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Exxon Mobil Corporation delay times for all exchanges). Stocks making the biggest moves premarket: SNAP, INTC, FSLR, ExxonMobil The past year presented the most challenging market conditions ExxonMobil has This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. statistic alerts) please log in with your personal account. Corporations such as AT&T, Charter Communications, American International Group (AIG), and Dow reported that they will pay negative effective federal income tax rates on their U.S. profits for 2021, effectively enjoying tax refunds instead. It also continues to work on lowering costs and expects $9 billion in structural cost savings by the end of 2023 versus 2019. ExxonMobil The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. Exxon (XOM) Q1 earnings report 2023 - CNBC XOM | Exxon Mobil Corp. Annual Income Statement - WSJ The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. var onSuccessSubmitenSubscribeSlideUp = function() { read more. { document.getElementById('search-form').focus(); }, 300);">. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The company delivered both the highest net income in its history and fairly significant year-over-year production growth. It has now returned to pre-pandemic debt levels, down $20 billion last year to $47.7 billion. Exxon net income for the twelve months ending December 31, Exxon revenue for the twelve months ending December 31, 2022 was $413.680B, a 44.83% increase year-over-year. This is because these highlights provide a background for the remainder of the article as well as serve as a framework for the resultant analysis. WebAccording to Exxon Mobil 's latest financial reports the company's current revenue (TTM) is $398.67 B . Thus, at the present time, it does not appear that the current dividend is in any danger. For this reason, we believe that it is vital to keep a close eye on all of your investments. The tax rate for large corporations is nominally 21 percentdown from 35 percent because of the Tax Cuts and Jobs Act (TCJA) of 2017. CNBC Exxon annual revenue for 2022 was How ExxonMobil Makes Money: Upstream, Downstream, Chemical It also tells us how well a companys equity will cover its debt obligations in the event of a bankruptcy or liquidation event, which is arguably more important. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Making the world smarter, happier, and richer. ", The company had flagged gains from asset sales and a $752 million, or 17 cents a share, hit to upstream results from impairment charges. WebAccording to Exxon Mobil 's latest financial reports the company's current revenue (TTM) is $398.67 B . Exxon Mobil pointed this out in its earnings press release, although the company was specifically referring to profits and not revenue: Lower liquids and natural gas realizations coupled with the absence of favorable mark-to-market impacts on unsettled derivatives, fewer days in the quarter, and higher unscheduled maintenance negatively impacted results sequentially.. Revenue of XOM during the year 2021 = $285.64 Billion. ExxonMobil As of March 31, 2023, Exxon Mobil had a net debt of $8.795 billion compared to $206.414 billion of shareholders equity. The companys third-quarter results also speak to Exxons ongoing recovery following the pandemic. According to data from the financial data company FactSet, the four most profitable quarterssince FactSet began collecting data in 2008for corporations on the S&P 500 happened in 2021. Exxon (XOM) earnings Q4 2021 - CNBC Overall, this company continues to be worth considering for your investment dollars. Power Hedge is an independent stock research and analysis firm with a passion for macro- and microeconomic analysis. This analysis did not make such adjustments. This may make it feel as though you are getting poorer and poorer with the passage of time, even if your portfolio does not actually go down in total value. Lead industry in innovations that advance modern living and a net-zero future. As stated in the highlights, Exxon Mobil increased its production by 156,000 barrels of oil equivalents per day compared to the prior-year quarter. The firm's strategy is primarily buy and hold, but will stray from that strategy on occasion. As we can see, Exxon Mobil has almost no reliance on debt to finance its operations, and it has a much stronger balance sheet than the other supermajors. The usual way that we analyze a companys ability to afford its dividend is by looking at its free cash flow. Some companies on this list have noncontrolling interests that are essentially insignificant for their effective tax rate. Most significantly, the bill closes offshore loopholes to prevent companies from shifting their profits to tax haven countries to avoid U.S. tax. This is something that we also saw in the results of other traditional energy companies that have reported, such as Pioneer Natural Resources (PXD). You only have access to basic statistics. Exxon Mobil pointed this out in its. In 2021 the company made an earning of $31.23 B an increase over its 2020 earnings that were of -$28.89 B .The earnings displayed on this page is the company's Pretax Income . Tackling Climate Change and Environmental Injustice, The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. subscribe.submit(); Seeking Alpha's Disclosure: Past performance is no guarantee of future results. Exxon reported an adjusted profit of $2.05 per share, 11 cents above analysts' forecast as the bottom line benefited from soaring oil and gas prices, higher volumes and asset sales. Exxon (see Methodology for more details on these tax rate calculations). Exxon Operating Income A full list of supporters is available here. Despite Its Falling 92%, Cathie Wood Is Buying More of This Growth Stock. The highest profit margin attained by XOM between 2012 and 2021 was 9.94%. This status quo can be changed. If you are an admin, please authenticate by logging in again. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Low Carbon Solutions supports reducing emissions from our operations and provides solutions to help our customers reduce their emissions through developing markets in carbon capture and storage, hydrogen, and lower-emission fuels. I am not receiving compensation for it (other than from Seeking Alpha). This analysis generally follows the methodology used by ITEP, except that ITEP typically makes certain additional adjustments and refinements, including deducting excess benefits from stock options from current income tax expense. Upstream includes our diverse growth portfolio of oil and natural gas exploration and development projects in Guyana, Brazil, the Permian Basin, as well as LNG expansion opportunities in Qatar, Mozambique, Papua New Guinea, and the U.S. Finally, the stock appears to be very reasonably priced today. Entering text into the input field will update the search result below. Our aim is not just to change the conversation, but to change the country. Chart. As I discussed in a recent. It now plans to raise production in the top U.S. shale basin by 25% this year, in addition to a similar increase last year in the Permian, where output reached 460,000 bpd. Product Solutions consolidates Downstream and Chemical to form the worlds largest downstream and chemical company. The company reported a loss of 5 cents per ExxonMobils profits and revenue soar on high oil prices - CNN The Best Stocks to Invest $5,000 in Right Now, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. Exclusive news, data and analytics for financial market professionals, Reporting by Sabrina Valle from Houston, additional reporting by Shariq Khan in Bengaluru. In addition, all subscribers can read any of my work without a subscription to Seeking Alpha Premium! A full list of supporters is available, 4 Things Bank Regulators Can Do to Help Prevent Bank Failures, DACA Boosts Recipients Well-Being and Economic Contributions: 2022 Survey Results, 5 Things To Know About the Child Care for Working Families Act, Speaker McCarthys Debt Ceiling Proposal Would Undo Benefits of Inflation Reduction Act. Power Hedge is neither a permabear nor a permabull. Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. }. President Biden has proposedand the U.S. House of Representatives has already passeda 15 percent minimum corporate tax, which is in the House-passed fiscal year 2022 budget reconciliation bill, along with other measures to stop corporate tax avoidance. Results included unfavorable identified items of approximately $200 million associated with additional European taxes on the energy sector. The United States is certainly not going to make up for this deficit as the U.S. Energy Information Administration states that total American output has only increased by 794,000 barrels per day over the last year. Exxon Financial Statements 2009-2023 | XOM | MacroTrends The fact that derivatives also had a negative impact does not change this since these derivatives are priced based on energy prices, so the fact that both crude oil and natural gas prices declined quarter-over-quarter was the cause of the companys unrealized mark-to-market losses. But the energy company is also investing in other areas that it thinks can greatly contribute to its bottom line in the future. Netflix, just outside the Fortune 100, paid a measly 1.1 percent on $5.3 billion of U.S. earnings. Karen Fierro Ruiz, Debu Gandhi, Trinh Q. Truong, Nicole Prchal Svajlenka. The airline said its bookings in March were strong, allowing revenue to soar 22% to $5.7 billion in the quarter. revenue read more. The Center for American Progress is an independent nonpartisan policy institute that is dedicated to improving the lives of all Americans through bold, progressive ideas, as well as strong leadership and concerted action. Thus, it received less for each unit of crude oil or natural gas that it sold, but it sold more of them. Box 43006 Providence, RI 02940-3006 T: 1-800-252-1800 (within the United States and Canada) T: 1-781-575-2058 (Outside the United States and Canada). ExxonMobil's Record-Setting Profits Continue. This means that less money comes into the company and that less money is available to cover expenses and make its way down to the bottom line. In the same quarter a year ago, Exxon posted an adjusted profit of 3 cents a share. The estimated additional pay is $22,086 per year. Leading global oil and gas producers based on revenue 2022, Leading oil and gas producers based on market cap March 2023, Leading global oil and gas producers based on net income 2022, ExxonMobil's employment figures 2001-2022. This peak value was achieved in 2012. Management expects to buy back up to $17.5 billion in shares during 2023 after $4.3 billion in share repurchases during the first quarter. Business Solutions including all features. The company continues to maintain one of the strongest balance sheets in the industry, as the company has virtually no reliance on debt and has a strong enough free cash flow to effectively wipe out its debt very quickly. Dollars). It is always important to look at the way that a company finances itself before making an investment in it. At first glance, these results were mixed as the company failed to meet the expectations of its analysts in terms of top-line revenue, but it did beat earnings estimates. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. However, this issue extends beyond the Fortune 100: Other large, notable companies pay similarly low rates. This means that less money comes into the company and that less money is available to cover expenses and make its way down to the bottom line. The company also reported that profits declined by nearly a quarter compared to the same period in the prior year to $5.7 billion. The dividend is not as high as some other energy companies, but it is sustainable and may be increased later this year. For complete information regarding our financials and a reconciliation of GAAP to Non-GAAP results, see our periodic filings and financial results. Those results came even with oil prices meaningfully lower and a drop in total revenue. Our ideal holding period is forever, however we realize that both internal and external forces can impact an investment. The Motley Fool has a disclosure policy. Exxon Mobil Editing by Nick Zieminski and Jane Merriman, As oil output peaks, US Gulf of Mexico makes room for carbon capture, Oil holds steady as economic fears weigh against potential crude draw, Exxon Mobil not quitting exploration in Brazil, Brazilian oil-export tax a 'concerning' development,' says Shell chief, Exclusive: Kleiner Perkins partner Wen Hsieh to launch TSMC-backed new fund -sources, Factbox: Long-serving Qantas executive Vanessa Hudson named as next CEO, Adani-owned NDTV profit plunges about 98% on weak advertising demand, How JPMorgan's Dimon won the First Republic deal. var subscribe = document.getElementById('enSubscribeSlideUp'); We are currently offering a two-week free trial for the service, so check us out! Exxon Mobil. Ending corporate giveaways in the tax code and closing loopholes would ensure that large corporations start paying their fair share, allowing the country to raise revenue needed to invest in American families and grow a healthy economy that works for all. Please be aware of the risks associated with these stocks. Exxon Mobil Corporation (XOM) Income Statement - Yahoo Finance For instance, Salesforce paid no federal income taxes in 2021, despite $2.7 billion in U.S. earnings; Duke Energy paid no federal income taxes in 2021, despite $3.7 billion in U.S. earnings; and Kinder Morgan paid no federal income taxes in 2021, despite $2.2 billion in U.S. earnings. All quotes delayed a minimum of 15 minutes. Net profit margin can be defined as net Income as a portion of total sales revenue. Please create an employee account to be able to mark statistics as favorites. Exxon Mobil Corp. earned $11.43 billion, or $2.79 per share, for the three months ended March 31. Exxon Mobil Corporation (XOM) Exxon Mobil beats profit estimates, $84.97 billion revenue falls short Squawk Box Exxon Mobil's revenue jumped more than 80% year over year during the fourth ExxonMobil held total assets worth 338.9 billion U.S. dollars in 2021. revenue The stock yields more than 3% even as it trades at an all-time high. The figure above highlights the incredibly low rates that these 19 corporations are paying. After all, lower energy prices mean that the company was forced to sell its products for less than it did during the prior-year quarter. Upgrade now. ExxonMobil Exxon Mobil reported total revenue of $86.564 billion in the first quarter of 2023. Exxon Mobil Corporation today announced first-quarter 2023 earnings of $11.4 billion, or $2.79 per share assuming dilution. Are you interested in testing our business solutions? } Annual stock financials by MarketWatch. March 31, 2023. See here for a complete list of exchanges and delays. These 19 Fortune 100 Companies Paid Next to Nothingor The agreement with Linde will have ExxonMobil capture, transport, and store more than 2 million tons of carbon dioxide (CO2) per year from Linde's new clean hydrogen production plant in Texas. ", Exxon Mobil, Total assets of ExxonMobil from 2001 to 2022 (in million U.S. dollars) Statista, https://www.statista.com/statistics/281181/total-assets-of-exxon-mobil/ (last visited May 02, 2023), Total assets of ExxonMobil from 2001 to 2022 (in million U.S. dollars) [Graph], Exxon Mobil, March 31, 2023. Exxon Mobil (XOM) - Earnings Thus, any event that causes a companys cash flows to decline could push it into financial distress if it has too much debt. QuoteMedia. Some companies that appeared to pay very low effective rates are not included on this list for data reasonsfor example, if their financial statements did not isolate their U.S. profits or if they had significant noncontrolling interests in other companies. Exxon posts biggest profit in seven years on high oil prices Exxon Mobil reported total revenue of $86.564 billion in the first quarter of 2023. Revenue at ExxonMobil soared 53% to $90.5 billion. HOUSTON, Feb 1 (Reuters) - Exxon Mobil Corp (XOM.N) on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices. The company delivered both the highest net income in its history and fairly significant year-over-year production growth. Sep '18. Exxon Revenue 2010-2022 | XOM | MacroTrends Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. That facility is due to begin operations as early as 2025. (March 31, 2023). Exxon and Chevron Report Record Profits on High Oil and Gas Prices Invest better with The Motley Fool. However, the companys most recent increase was pretty paltry and failed to keep up with inflation despite the fact that soaring energy costs are one of the largest drivers of that inflation and Exxon Mobil has been consistently reporting some of the highest profits in the industry. Market Data copyright 2023 QuoteMedia. Show publisher information If a recession does not hit though, it seems certain that energy prices will go up, which will be beneficial for Exxon Mobil over the remainder of this year. Thus, the stock price today certainly appears reasonable. A continuation of high oil prices would "cause us to increase the pace of the share repurchase program," Chief Financial Officer Kathryn Mikells said. I am not receiving compensation for it (other than from Seeking Alpha). The laws of economics state that this should cause crude oil prices to go up. In fact, I can recall some articles that have been published on Seeking Alpha stating that Exxon Mobil is the best dividend stock in the market. While we can certainly debate that claim all day, the fact is that the dividend is one of the things that a typical investor will have in their minds when purchasing shares of Exxon Mobil. However, none of these companies has an especially high debt load. It is always critical that we do not overpay for any asset in our portfolios. Exxon said on Monday it would combine its refining and chemicals businesses. All values USD Millions. The record first-quarter GAAP net income of $11.4 billion was more than twice what it earned in the year-ago quarterly period. Indeed, that did happen following the announcement of the production cuts, but it did not last as recession fears continue to weigh on the market. The companys dividends cost it $3.738 billion in the first quarter of 2023. ExxonMobil Revenues And Revenue Growth From Exxon Mobil on Friday reported a record first-quarter profit that was more than double from a year ago and topped Wall Street estimates. As interest rates are currently at the highest level that we have seen in fifteen years, this is a very big risk today. Thus, the best way to value a company like this today is to compare Exxon Mobils ratio to that of its peers in order to see which has the most attractive relative valuation. If you have an ad-blocker enabled you may be blocked from proceeding. dataLayer.push({"event": "signup_submit", "form_detail":"enSubscribeFooter"}); ExxonMobil Analysis shows that during a year of high corporate profits, many of the biggest corporations in America either paid minimal or no federal income taxes. I exercise no control over these funds and their positions may change at any time. Fortunately, there are some signs that energy prices could rise over the remainder of the year.