Stock Analysis on Net
Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

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Common-Size Income Statement
Quarterly Data

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

Microsoft Excel
3 months ended: 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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Sales and other operating revenue
Income from equity affiliates
Other income
Revenues and other income
Crude oil and product purchases
Production and manufacturing expenses
Selling, general and administrative expenses
Depreciation and depletion, including impairments
Exploration expenses, including dry holes
Other taxes and duties
Operating income (loss)
Non-service pension and postretirement benefit expense
Interest expense
Income (loss) before income taxes
Income tax (expense) benefit
Net income (loss) including noncontrolling interests
Net (income) loss attributable to noncontrolling interests
Net income (loss) attributable to ExxonMobil

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Revenues and Income Components
The total revenues and other income consistently exceed 100% of sales revenue during the periods, indicating additional income streams beyond core sales. Income from equity affiliates fluctuates notably, peaking in late 2022, followed by a decline and some stabilization in 2023 and 2024. Other income shows generally low proportions but exhibits occasional spikes, particularly around the end of 2020 and again in late 2022 and 2023.
Cost Trends
Crude oil and product purchases remain the largest expense bucket, typically ranging between approximately 43% and 60% of sales revenue. A sharp reduction in this cost occurred in the second quarter of 2020, potentially reflecting market disruptions, followed by a gradual increase reaching its highest levels around 2023 and early 2024 before slightly decreasing toward mid-2025.
Production and manufacturing expenses show a decreasing trend from significantly high levels in mid-2020, dropping to lower relative costs in 2022 and 2023 before some variability in late 2024 and 2025. This suggests improved efficiency or cost management over the analyzed periods.
Selling, general, and administrative expenses steadily decline relative to sales, indicating tighter control or better cost allocation in these areas.
Depreciation and depletion costs demonstrate significant fluctuations, with an exceptional spike at the end of 2020, likely due to impairments or write-downs. Post-2020, these costs stabilize at lower levels, though with a moderate upward movement observed in late 2023 and 2024.
Exploration expenses remain a minimal and fairly stable fraction of sales, exhibiting minor variations but no clear trend, indicating controlled exploration spending relative to revenues.
Other taxes and duties steadily decrease from 2020 through 2022, followed by periods of slight increases and stabilization at moderately lower rates compared to the early data points, reflecting possible regulatory or operational adjustments.
Profitability and Income
The operating income experienced a dramatic drop in late 2020, reaching negative territory, then sharply recovered and generally maintained positive levels throughout 2021 to 2025, fluctuating mostly between 10% and 25% of sales revenue, suggesting a strong rebound and sustained operating efficiency.
Non-service pension and postretirement benefit expenses remain relatively insignificant and stable over time, with minor fluctuations, implying limited impact on overall profitability.
Interest expense tends to decrease slightly over the period, indicating possible debt reduction or favorable financing conditions.
Income before income taxes mirrors operating income trends, including the severe contraction in late 2020 and subsequent recovery, maintaining relatively stable positive levels afterward.
Income tax expense exhibits variability, with a notable positive tax effect in the last quarter of 2020, likely related to the unusual operating results. Subsequently, tax expenses align more consistently with profits, fluctuating around 3% to 6% of sales revenue, suggesting a normalized tax environment.
Net Income
Net income attributable to ExxonMobil shows a substantial loss in late 2020, consistent with operating income trends. Following this, net income steadily recovers and remains positive, generally ranging from approximately 6% to 19% of sales revenue. There is some volatility but no return to negative territory, indicating resilience and profitability restoration.
Noncontrolling interests' impact on net income is minor and predominantly negative, slightly reducing total net income attributable to the company, but without significant influence on overall profitability trends.