Analysis of Geographic Areas
Exxon Mobil Corp. operates in 2 regions: United States and Non-U.S..
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Area Asset Turnover
Exxon Mobil Corp., asset turnover by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| Non-U.S. |
Based on: 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), 10-K (reporting date: 2020-12-31).
- United States
- The asset turnover ratio for the United States exhibited a rising trend from 0.66 at the end of 2020 to a peak of 1.66 in 2022. Following this peak, there was a decline to 1.33 in 2023, and a further decrease to 0.78 in 2024, suggesting a reduction in efficiency in asset utilization in the most recent years.
- Non-U.S.
- The non-U.S. asset turnover ratio increased steadily from 0.87 in 2020 to 2.18 in 2022, marking a significant improvement in asset utilization. After this peak, the ratio declined to 1.74 in 2023 but remained relatively stable with a slight decrease to 1.73 in 2024.
- Overall Analysis
- Both geographic areas experienced growth in asset turnover ratios up to 2022, indicating improved operational efficiency during this period. However, post-2022 data show a noticeable downward correction, particularly more pronounced in the United States segment. Despite this decline, the non-U.S. area maintained a higher level of turnover compared to the U.S. market in the latest year, reflecting relatively better asset utilization outside the domestic market.
Area Asset Turnover: United States
Exxon Mobil Corp.; United States; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenue | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Area asset turnover = Sales and other operating revenue ÷ Long-lived assets
= ÷ =
- Sales and Other Operating Revenue
- Sales and other operating revenue demonstrated a notable upward trend between 2020 and 2022, increasing from approximately 62.7 billion US dollars to 149.2 billion US dollars. This represents more than a twofold increase within the three-year span. However, in 2023, there was a decline to 127.4 billion US dollars, followed by a partial recovery in 2024 to 138.7 billion US dollars. Despite the dip in 2023, the overall trend over the five years indicates substantial growth.
- Long-Lived Assets
- Long-lived assets showed a generally stable pattern from 2020 to 2023, fluctuating slightly around the 90 to 95 billion US dollars range. However, in 2024, there was a dramatic increase to approximately 178.6 billion US dollars, nearly doubling the asset base compared to the previous years. This significant rise suggests major capital investments or asset acquisitions in the most recent year.
- Area Asset Turnover
- The area asset turnover ratio, which measures efficiency in utilizing long-lived assets to generate revenue, increased markedly from 0.66 in 2020 to a peak of 1.66 in 2022. This improvement indicates enhanced operational efficiency and asset utilization during the period of rising sales. However, the ratio declined to 1.33 in 2023 and further to 0.78 in 2024, reflecting a decrease in asset turnover efficiency, potentially related to the large increase in long-lived assets in 2024 which may not yet be fully productive.
Area Asset Turnover: Non-U.S.
Exxon Mobil Corp.; Non-U.S.; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenue | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Area asset turnover = Sales and other operating revenue ÷ Long-lived assets
= ÷ =
- Sales and Other Operating Revenue
- The sales and other operating revenue demonstrated a significant increase from 115,911 million US dollars in 2020 to a peak of 249,450 million US dollars in 2022. Following this peak, there was a decline in revenue, with values decreasing to 207,323 million US dollars in 2023 and slightly further to 200,590 million US dollars in 2024. Despite the drop from the 2022 peak, the 2024 revenue remains considerably higher than the 2020 level, indicating overall growth over the five-year period.
- Long-lived Assets
- Long-lived assets exhibited a consistent downward trend over the period. Starting at 132,821 million US dollars in 2020, the value of these assets decreased to 126,140 million in 2021, followed by continued reductions each year, reaching 115,685 million US dollars by 2024. This decline suggests a reduction in the company's investment or book value of long-term assets in the Non-U.S. geographic area throughout the period.
- Area Asset Turnover
- The area asset turnover ratio showed a marked upward trend from 0.87 in 2020 to a peak of 2.18 in 2022, indicating improved efficiency in utilizing assets to generate revenue during this time. After 2022, the ratio declined but remained relatively high at 1.74 in 2023 and 1.73 in 2024 compared to earlier years. This pattern suggests that while the company experienced a slight reduction in asset utilization efficiency after 2022, it still maintained strong turnover rates relative to the starting point in 2020.
- Overall Observations
- The data reflect a period of strong revenue growth coupled with decreasing long-lived assets, implying efficient asset management or possible divestment of assets during the period. The increase in area asset turnover ratio supports this, showing improved asset productivity especially evident up to 2022, followed by stabilization at a higher level than the initial year. The decline in revenue after 2022 may be indicative of external market factors, strategic shifts, or operational challenges, but without further data, these remain speculative.
Sales and other operating revenue
Exxon Mobil Corp., sales and other operating revenue by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| Non-U.S. | |||||
| Total |
Based on: 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), 10-K (reporting date: 2020-12-31).
- United States Sales and Revenue Trends
- Sales and other operating revenue in the United States demonstrate an overall growth trend from 2020 through 2024. Starting at 62,663 million US dollars in 2020, there was a substantial increase to 104,236 million in 2021, followed by continued growth reaching a peak of 149,225 million in 2022. Although there was a decline to 127,374 million in 2023, the figures rebounded somewhat in 2024, rising to 138,657 million.
- Non-U.S. Sales and Revenue Trends
- Non-U.S. sales and other operating revenue show a similar upward trajectory but with higher absolute figures. Beginning at 115,911 million in 2020, the values escalated sharply to 172,456 million in 2021 and further to 249,450 million in 2022. However, there was a noticeable decline in 2023 to 207,323 million, which continued slightly into 2024, ending at 200,590 million. Despite this reduction, non-U.S. revenues remained significantly higher than U.S. revenues throughout the period examined.
- Total Sales and Revenue Trends
- The total sales and other operating revenue, combining U.S. and non-U.S. figures, reflect the aggregate of the individual components’ behavior. The total revenue increased significantly from 178,574 million in 2020 to an all-time high of 398,675 million in 2022. Afterward, it experienced a deterioration to 334,697 million in 2023 but showed a slight recovery in 2024, reaching 339,247 million.
- Key Insights
- The data indicates strong revenue growth through 2022 for both the U.S. and non-U.S. markets, with a peak observed in that year. However, 2023 marked a downturn in revenues across both geographic segments, with a partial recovery in the U.S. in 2024, while non-U.S. revenues continued to decline modestly. The non-U.S. segment contributes a larger share to the total revenue, and both regions appear correlated in their growth and contraction phases.
Long-lived assets
Exxon Mobil Corp., long-lived assets by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| Non-U.S. | |||||
| Total |
Based on: 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), 10-K (reporting date: 2020-12-31).
- United States Long-Lived Assets
- The value of long-lived assets in the United States exhibited a decreasing trend from 2020 to 2022, declining from 94,732 million US dollars in 2020 to 90,051 million in 2022. In 2023, this value increased slightly to 95,792 million. A significant surge occurred in 2024, with assets rising sharply to 178,633 million, nearly doubling the previous year's amount.
- Non-U.S. Long-Lived Assets
- Non-U.S. long-lived assets showed a consistent downward trend over the period from 2020 to 2024. The value decreased gradually from 132,821 million in 2020 to 115,685 million in 2024. Notable declines occurred between 2021 and 2022 as well as between 2023 and 2024, with a minor recovery observed in 2023.
- Total Long-Lived Assets
- Total long-lived assets followed a similar pattern to the United States segment initially, decreasing from 227,553 million in 2020 to 204,692 million in 2022. This was followed by a moderate increase in 2023 to 214,940 million. The most pronounced increase occurred in 2024, where total assets surged to 294,318 million, largely driven by the sharp rise in the United States assets.
- Overall Insights
- The data indicates a strategic shift or significant reallocation of long-lived assets towards the United States in 2024, reflected in the dramatic increase for that year. In contrast, non-U.S. assets have been steadily declining, suggesting possible divestitures, asset sales, or lower capital expenditure outside the United States. The total asset base decreased from 2020 through 2022, stabilized in 2023, and expanded markedly in 2024, primarily due to the strong increase in assets concentrated in the United States.