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Exxon Mobil Corp. (NYSE:XOM)

Common-Size Income Statement
Quarterly Data

Exxon Mobil Corp., common-size consolidated income statement (quarterly data)

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3 months ended: Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Sales and other operating revenue 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Income from equity affiliates 0.78 1.65 1.21 1.52 1.84 1.69 1.39 1.69 1.94 2.29 1.43 1.65 1.71 2.85 0.65 4.35 3.31 2.89 2.56 2.32 2.18 2.56
Other income 0.52 0.73 1.63 0.84 0.71 0.87 1.53 0.85 1.48 1.03 1.83 0.83 0.91 0.64 1.78 0.87 0.65 0.26 1.95 0.31 0.55 0.21
Revenues and other income 101.30% 102.38% 102.83% 102.36% 102.55% 102.56% 102.92% 102.53% 103.42% 103.32% 103.25% 102.47% 102.62% 103.49% 102.43% 105.22% 103.97% 103.15% 104.50% 102.63% 102.73% 102.77%
Crude oil and product purchases -59.20 -62.29 -55.23 -57.52 -57.03 -57.72 -57.23 -58.39 -60.23 -59.20 -56.74 -59.93 -58.91 -55.00 -54.49 -56.52 -58.97 -59.71 -55.95 -55.28 -56.61 -56.65
Production and manufacturing expenses -10.70 -12.86 -15.17 -12.11 -12.71 -12.44 -13.36 -11.26 -10.90 -11.31 -12.11 -9.82 -10.97 -11.28 -14.35 -10.63 -9.60 -11.67 -13.26 -12.13 -12.85 -14.01
Selling, general and administrative expenses -2.17 -3.23 -3.78 -3.64 -3.18 -3.13 -3.23 -2.62 -2.85 -3.10 -3.17 -2.81 -3.03 -2.86 -3.04 -2.18 -2.27 -2.75 -3.09 -3.18 -3.56 -4.22
Depreciation and depletion, includes impairments -7.59 -8.14 -9.64 -7.77 -7.68 -7.03 -8.12 -7.13 -6.43 -5.98 -9.48 -4.98 -5.25 -5.07 -5.44 -5.30 -4.00 -10.12 -6.96 -6.94 -7.51 -8.69
Exploration expenses, including dry holes -0.14 -0.15 -0.68 -0.18 -0.32 -0.08 -0.23 -0.39 -0.17 -0.18 -0.17 -0.38 -0.16 -0.17 -0.37 -0.20 -0.26 -0.20 -0.64 -0.26 -0.27 -0.28
Other taxes and duties -4.33 -6.90 -8.00 -7.77 -7.87 -7.45 -8.23 -7.65 -7.31 -7.86 -7.98 -8.71 -9.36 -8.63 -7.42 -6.18 -6.17 -8.61 -9.77 -10.97 -11.75 -11.57
Operating income 17.19% 8.81% 10.33% 13.37% 13.76% 14.70% 12.51% 15.11% 15.52% 15.69% 13.61% 15.85% 14.94% 20.48% 17.33% 24.21% 22.69% 10.09% 14.82% 13.86% 10.20% 7.35%
Non-service pension and postretirement benefit expense -0.03 -0.07 -0.10 -0.14 -0.11 -0.14 -0.04 -0.04 -0.04 -0.03 -0.27 -0.19 -0.20 -0.20 -0.11 -0.14 -0.11 -0.12 -0.12 -0.20 -0.25 -0.66
Interest expense -0.20 -0.35 -0.20 -0.11 -0.18 -0.25 -0.37 -0.24 -0.30 -0.27 -0.33 -0.19 -0.31 -0.19 -0.22 -0.20 -0.17 -0.21 -0.27 -0.30 -0.39 -0.45
Income before income taxes 16.96% 8.38% 10.03% 13.12% 13.47% 14.31% 12.11% 14.84% 15.19% 15.38% 13.01% 15.47% 14.43% 20.09% 17.00% 23.87% 22.41% 9.75% 14.43% 13.36% 9.56% 6.24%
Income tax expense -3.97 -3.00 -1.78 -3.80 -4.22 -4.40 -2.29 -4.62 -4.55 -4.73 -3.20 -4.91 -4.34 -5.93 -6.21 -4.90 -5.72 -3.20 -3.26 -3.71 -2.31 -1.38
Net income including noncontrolling interests 12.99% 5.38% 8.26% 9.32% 9.25% 9.91% 9.81% 10.22% 10.64% 10.65% 9.81% 10.55% 10.09% 14.16% 10.79% 18.96% 16.69% 6.55% 11.17% 9.66% 7.25% 4.86%
Net income attributable to noncontrolling interests -0.31 -0.35 -0.13 -0.26 -0.34 -0.39 -0.43 -0.41 -0.37 -0.43 -0.47 -0.31 -0.34 -0.49 -0.33 -0.51 -0.65 -0.31 -0.26 -0.27 -0.14 -0.11
Net income attributable to ExxonMobil 12.68% 5.03% 8.12% 9.06% 8.91% 9.52% 9.39% 9.81% 10.27% 10.22% 9.34% 10.24% 9.75% 13.67% 10.47% 18.46% 16.04% 6.25% 10.91% 9.39% 7.11% 4.74%

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The financial performance over the analyzed period is characterized by significant volatility in operating margins, with a pronounced peak in profitability during 2022 followed by a period of stabilization and periodic fluctuations. Net income margins attributable to the parent company exhibit a cyclical pattern, rising from 4.74% in March 2021 to a peak of 18.46% in September 2022, before settling into a range between 5% and 13% through June 2026.

Operating Profitability and Margin Trends
Operating income as a percentage of sales shows substantial variance, starting at 7.35% in early 2021 and reaching a maximum of 24.21% in September 2022. This peak reflects a period of enhanced operational efficiency or favorable pricing environments. While margins retracted in 2023 and early 2024, a recovery is observed by June 2026, where operating income reaches 17.19%.
Primary Cost Drivers
Crude oil and product purchases represent the most significant expenditure, consistently accounting for between 54% and 62% of total revenue. This indicates a high sensitivity to raw material costs. Production and manufacturing expenses remained relatively stable, generally fluctuating between 9% and 15%, though they showed a notable decrease during the high-margin period of mid-2022.
Operating Expense Management
Selling, general, and administrative expenses remained controlled, typically ranging from 2.17% to 4.22% of revenue, suggesting a scalable cost structure. Depreciation and depletion costs exhibited more volatility, peaking at 10.12% in March 2022 and 9.64% in September 2025, which may correlate with periodic impairment charges or investment cycles.
Taxation and Non-Operating Items
Other taxes and duties showed a general downward trend in the latter part of the period, decreasing from peaks above 11% in 2021 to 4.33% by June 2026. Income from equity affiliates contributed positively but inconsistently, peaking at 4.35% in September 2022 and declining to 0.78% by June 2026, reducing the relative impact of non-consolidated investments on the bottom line.
Bottom-Line Performance
Income before taxes closely mirrored operating income trends, peaking at 23.87% in September 2022. The net income attributable to the parent company fluctuated in tandem with these shifts, ending the period at 12.68% in June 2026. The impact of noncontrolling interests remained minimal and relatively stable, typically representing less than 0.5% of total revenue.

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