Analysis of Revenues
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Revenues as Reported
Exxon Mobil Corp., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from contracts with customers | |||||||||||
| Revenue outside the scope of ASC 606 | |||||||||||
| Sales and other operating revenue |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Overall revenue exhibited significant fluctuation across the five-year period. Initial growth was followed by a decline, with revenue stabilizing in later years, though remaining below the peak observed in 2022. A detailed examination of the components reveals differing trends.
- Revenue from Contracts with Customers
- Revenue recognized from contracts with customers increased substantially from 2021 to 2022, rising from US$228,968 million to US$304,758 million. However, this was followed by a considerable decrease in 2023 to US$256,455 million, and a further decline in 2024 to US$245,143 million. A slight decrease continued into 2025, reaching US$226,909 million. This indicates a weakening trend in core revenue generation from customer contracts after the initial surge.
- Revenue Outside the Scope of ASC 606
- Revenue falling outside the scope of ASC 606 demonstrated a strong increase from 2021 to 2022, nearly doubling from US$47,724 million to US$93,917 million. This revenue stream experienced a reduction in 2023 to US$78,242 million, but then rebounded in 2024 to US$94,104 million, and continued to grow modestly in 2025, reaching US$96,996 million. This component shows greater stability than revenue from contracts with customers, with a general upward trend over the period.
- Sales and Other Operating Revenue
- Total sales and other operating revenue mirrored the pattern of revenue from contracts with customers. A substantial increase occurred between 2021 and 2022, moving from US$276,692 million to US$398,675 million. Subsequently, a decline was observed in 2023 to US$334,697 million, followed by a slight increase in 2024 to US$339,247 million. This upward momentum did not sustain, with revenue decreasing to US$323,905 million in 2025. The overall trend suggests a peak in 2022 followed by a period of stabilization at a lower level.
The differing trends between revenue streams suggest a shift in the composition of overall revenue. While revenue from contracts with customers experienced a more pronounced cyclical pattern, revenue outside the scope of ASC 606 provided a more consistent contribution, partially offsetting the declines in the primary revenue source.