Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

Common Stock Valuation Ratios (Price Multiples)

Microsoft Excel

Current Valuation Ratios

Exxon Mobil Corp., current price multiples

Microsoft Excel
Exxon Mobil Corp. Chevron Corp. ConocoPhillips Marathon Petroleum Corp. Occidental Petroleum Corp. Pioneer Natural Resources Co. Valero Energy Corp. Oil, Gas & Consumable Fuels Energy
Selected Financial Data
Current share price (P) $114.97
No. shares of common stock outstanding 3,967,844,307
Growth rate (g) 3.38%
 
Earnings per share (EPS) $9.08
Next year expected EPS $9.38
Operating profit per share $13.70
Sales per share $84.35
Book value per share (BVPS) $51.62
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 12.67 13.59 13.62 7.35 14.97 12.41 6.32 11.93 12.22
Price to next year expected earnings 12.25 13.73 12.38 6.80 16.11 11.87 6.01 11.53 12.00
Price-earnings-growth (PEG) 3.75 1.37 0.91 2.71 1.23 3.38 6.60
Price to operating profit (P/OP) 8.39 9.59 8.69 4.90 8.25 9.30 4.71 8.06 8.29
Price to sales (P/S) 1.36 1.47 2.66 0.48 2.00 3.14 0.39 1.23 1.27
Price to book value (P/BV) 2.23 1.80 3.03 2.92 1.87 2.62 2.12 2.20 2.26

Based on: 10-K (reporting date: 2023-12-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Exxon Mobil Corp., historical price multiples

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Price to earnings (P/E) 11.49 8.01 14.11 15.64
Price to operating profit (P/OP) 7.62 5.65 9.86 10.14
Price to sales (P/S) 1.24 1.12 1.17 1.34 0.88
Price to book value (P/BV) 2.02 2.29 1.93 1.53 1.17

Based on: 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), 10-K (reporting date: 2019-12-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Exxon Mobil Corp. P/E ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Exxon Mobil Corp. P/OP ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Exxon Mobil Corp. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Exxon Mobil Corp. P/BV ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Price to Earnings (P/E)

Exxon Mobil Corp., historical P/E calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 3,967,844,307 4,070,984,988 4,233,592,429 4,233,483,160 4,232,190,744
Selected Financial Data (US$)
Net income (loss) attributable to ExxonMobil (in millions) 36,010 55,740 23,040 (22,440) 14,340
Earnings per share (EPS)2 9.08 13.69 5.44 -5.30 3.39
Share price1, 3 104.32 109.73 76.77 56.70 53.01
Valuation Ratio
P/E ratio4 11.49 8.01 14.11 15.64
Benchmarks
P/E Ratio, Competitors5
Chevron Corp. 13.42 8.71 16.81 70.06
ConocoPhillips 11.92 7.07 14.66 8.77
Marathon Petroleum Corp. 6.24 3.85 4.32 11.68
Occidental Petroleum Corp. 13.36 4.24 23.89
Pioneer Natural Resources Co. 11.17 6.14 25.60 29.80
Valero Energy Corp. 5.26 4.26 37.78 12.12
P/E Ratio, Sector
Oil, Gas & Consumable Fuels 10.92 7.00 14.31 20.63
P/E Ratio, Industry
Energy 11.20 7.35 14.77 34.21

Based on: 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), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
EPS = Net income (loss) attributable to ExxonMobil ÷ No. shares of common stock outstanding
= 36,010,000,000 ÷ 3,967,844,307 = 9.08

3 Closing price as at the filing date of Exxon Mobil Corp. Annual Report.

4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 104.32 ÷ 9.08 = 11.49

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Exxon Mobil Corp. P/E ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Price to Operating Profit (P/OP)

Exxon Mobil Corp., historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 3,967,844,307 4,070,984,988 4,233,592,429 4,233,483,160 4,232,190,744
Selected Financial Data (US$)
Operating income (loss) (in millions) 54,346 79,033 32,967 (26,520) 22,121
Operating profit per share2 13.70 19.41 7.79 -6.26 5.23
Share price1, 3 104.32 109.73 76.77 56.70 53.01
Valuation Ratio
P/OP ratio4 7.62 5.65 9.86 10.14
Benchmarks
P/OP Ratio, Competitors5
Chevron Corp. 9.48 6.12 11.40 30.35
ConocoPhillips 7.61 4.57 8.66 6.04
Marathon Petroleum Corp. 4.16 2.60 9.79 5.52
Occidental Petroleum Corp. 7.37 3.78 7.96 45.37
Pioneer Natural Resources Co. 8.37 4.70 16.34 170.14 14.48
Valero Energy Corp. 3.92 3.13 16.50 7.65
P/OP Ratio, Sector
Oil, Gas & Consumable Fuels 7.37 4.98 10.40 11.87
P/OP Ratio, Industry
Energy 7.60 5.24 10.72 16.06

Based on: 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), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= 54,346,000,000 ÷ 3,967,844,307 = 13.70

3 Closing price as at the filing date of Exxon Mobil Corp. Annual Report.

4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 104.32 ÷ 13.70 = 7.62

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Exxon Mobil Corp. P/OP ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Price to Sales (P/S)

Exxon Mobil Corp., historical P/S calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 3,967,844,307 4,070,984,988 4,233,592,429 4,233,483,160 4,232,190,744
Selected Financial Data (US$)
Sales and other operating revenue (in millions) 334,697 398,675 276,692 178,574 255,583
Sales per share2 84.35 97.93 65.36 42.18 60.39
Share price1, 3 104.32 109.73 76.77 56.70 53.01
Valuation Ratio
P/S ratio4 1.24 1.12 1.17 1.34 0.88
Benchmarks
P/S Ratio, Competitors5
Chevron Corp. 1.46 1.31 1.69 2.09 1.46
ConocoPhillips 2.33 1.68 2.58 3.52 1.94
Marathon Petroleum Corp. 0.41 0.32 0.35 0.51 0.25
Occidental Petroleum Corp. 1.78 1.45 1.40 1.39 1.44
Pioneer Natural Resources Co. 2.82 1.98 3.03 4.58 2.33
Valero Energy Corp. 0.32 0.28 0.31 0.48 0.27
P/S Ratio, Sector
Oil, Gas & Consumable Fuels 1.12 0.97 1.16 1.39 0.88
P/S Ratio, Industry
Energy 1.16 1.02 1.19 1.38 0.91

Based on: 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), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Sales per share = Sales and other operating revenue ÷ No. shares of common stock outstanding
= 334,697,000,000 ÷ 3,967,844,307 = 84.35

3 Closing price as at the filing date of Exxon Mobil Corp. Annual Report.

4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 104.32 ÷ 84.35 = 1.24

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Exxon Mobil Corp. P/S ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Price to Book Value (P/BV)

Exxon Mobil Corp., historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 3,967,844,307 4,070,984,988 4,233,592,429 4,233,483,160 4,232,190,744
Selected Financial Data (US$)
Total ExxonMobil share of equity (in millions) 204,802 195,049 168,577 157,150 191,650
Book value per share (BVPS)2 51.62 47.91 39.82 37.12 45.28
Share price1, 3 104.32 109.73 76.77 56.70 53.01
Valuation Ratio
P/BV ratio4 2.02 2.29 1.93 1.53 1.17
Benchmarks
P/BV Ratio, Competitors5
Chevron Corp. 1.78 1.94 1.89 1.50 1.42
ConocoPhillips 2.65 2.75 2.61 2.22 1.80
Marathon Petroleum Corp. 2.48 2.02 1.61 1.60 0.91
Occidental Petroleum Corp. 1.67 1.76 1.79 1.33 0.86
Pioneer Natural Resources Co. 2.36 2.14 2.37 2.78 1.86
Valero Energy Corp. 1.76 2.09 1.91 1.65 1.35
P/BV Ratio, Sector
Oil, Gas & Consumable Fuels 2.01 2.16 1.98 1.61 1.28
P/BV Ratio, Industry
Energy 2.07 2.24 2.04 1.64 1.32

Based on: 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), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
BVPS = Total ExxonMobil share of equity ÷ No. shares of common stock outstanding
= 204,802,000,000 ÷ 3,967,844,307 = 51.62

3 Closing price as at the filing date of Exxon Mobil Corp. Annual Report.

4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 104.32 ÷ 51.62 = 2.02

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Exxon Mobil Corp. P/BV ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.