Stock Analysis on Net
Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

Enterprise Value to EBITDA (EV/EBITDA)

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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Exxon Mobil Corp., EBITDA calculation

US$ in millions

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12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net income (loss) attributable to ExxonMobil (22,440) 14,340  20,840  19,710  7,840 
Add: Net income attributable to noncontrolling interest (811) 434  581  138  535 
Add: Income tax expense (5,632) 5,282  9,532  (1,174) (406)
Earnings before tax (EBT) (28,883) 20,056  30,953  18,674  7,969 
Add: Interest expense 1,158  830  766  601  453 
Earnings before interest and tax (EBIT) (27,725) 20,886  31,719  19,275  8,422 
Add: Depreciation and depletion, includes impairments 46,009  18,998  18,745  19,893  22,308 
Earnings before interest, tax, depreciation and amortization (EBITDA) 18,284  39,884  50,464  39,168  30,730 

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Exxon Mobil Corp.’s EBITDA decreased from 2018 to 2019 and from 2019 to 2020.

Enterprise Value to EBITDA Ratio, Current

Exxon Mobil Corp., current EV/EBITDA calculation, comparison to benchmarks

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Selected Financial Data (US$ in millions)
Enterprise value (EV) 335,658 
Earnings before interest, tax, depreciation and amortization (EBITDA) 18,284 
Valuation Ratio
EV/EBITDA 18.36
Benchmarks
EV/EBITDA, Competitors1
Chevron Corp. 20.05
ConocoPhillips 33.70
EV/EBITDA, Sector
Oil, Gas & Consumable Fuels 20.42

Based on: 10-K (filing date: 2021-02-24).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Exxon Mobil Corp., historical EV/EBITDA calculation, comparison to benchmarks

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Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 310,294  275,467  378,028  366,916  381,187 
Earnings before interest, tax, depreciation and amortization (EBITDA)2 18,284  39,884  50,464  39,168  30,730 
Valuation Ratio
EV/EBITDA3 16.97 6.91 7.49 9.37 12.40
Benchmarks
EV/EBITDA, Competitors4
Chevron Corp. 18.57 6.39 6.19 8.49 14.31
ConocoPhillips 23.12 4.13 5.18 13.93 17.45
EV/EBITDA, Sector
Oil, Gas & Consumable Fuels 18.14 6.21 6.64 9.35 13.49

Based on: 10-K (filing date: 2021-02-24), 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-22).

1 See details »

2 See details »

3 2020 Calculation
EV/EBITDA = EV ÷ EBITDA
= 310,294 ÷ 18,284 = 16.97

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Exxon Mobil Corp.’s EV/EBITDA ratio decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.