Common-Size Income Statement
Quarterly Data
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Exxon Mobil Corp., common-size consolidated income statement (quarterly data)
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.