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ExxonMobil Holdings Corp. (NYSE:XOM)

Common-Size Income Statement
Quarterly Data

ExxonMobil Holdings Corp., common-size consolidated income statement (quarterly data)

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3 months ended: Sep 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 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
Sales and other operating revenue 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Income from equity affiliates 1.02 0.78 1.65 1.21 1.52 1.84 1.69 1.39 1.69 1.94 2.29 1.43 1.65 1.71 2.85 0.65 4.35 3.31 2.89 2.56 2.32 2.18 2.56
Other income 1.39 0.52 0.73 1.63 0.84 0.71 0.87 1.53 0.85 1.48 1.03 1.83 0.83 0.91 0.64 1.78 0.87 0.65 0.26 1.95 0.31 0.55 0.21
Revenues and other income 102.41% 101.30% 102.38% 102.83% 102.36% 102.55% 102.56% 102.92% 102.53% 103.42% 103.32% 103.25% 102.47% 102.62% 103.49% 102.43% 105.22% 103.97% 103.15% 104.50% 102.63% 102.73% 102.77%
Crude oil and product purchases -59.48 -59.20 -62.29 -55.23 -57.52 -57.03 -57.72 -57.23 -58.39 -60.23 -59.20 -56.74 -59.93 -58.91 -55.00 -54.49 -56.52 -58.97 -59.71 -55.95 -55.28 -56.61 -56.65
Production and manufacturing expenses -10.15 -10.70 -12.86 -15.17 -12.11 -12.71 -12.44 -13.36 -11.26 -10.90 -11.31 -12.11 -9.82 -10.97 -11.28 -14.35 -10.63 -9.60 -11.67 -13.26 -12.13 -12.85 -14.01
Selling, general and administrative expenses -2.42 -2.17 -3.23 -3.78 -3.64 -3.18 -3.13 -3.23 -2.62 -2.85 -3.10 -3.17 -2.81 -3.03 -2.86 -3.04 -2.18 -2.27 -2.75 -3.09 -3.18 -3.56 -4.22
Depreciation and depletion, includes impairments -6.16 -7.59 -8.14 -9.64 -7.77 -7.68 -7.03 -8.12 -7.13 -6.43 -5.98 -9.48 -4.98 -5.25 -5.07 -5.44 -5.30 -4.00 -10.12 -6.96 -6.94 -7.51 -8.69
Exploration expenses, including dry holes -0.10 -0.14 -0.15 -0.68 -0.18 -0.32 -0.08 -0.23 -0.39 -0.17 -0.18 -0.17 -0.38 -0.16 -0.17 -0.37 -0.20 -0.26 -0.20 -0.64 -0.26 -0.27 -0.28
Other taxes and duties -4.73 -4.33 -6.90 -8.00 -7.77 -7.87 -7.45 -8.23 -7.65 -7.31 -7.86 -7.98 -8.71 -9.36 -8.63 -7.42 -6.18 -6.17 -8.61 -9.77 -10.97 -11.75 -11.57
Operating income 19.37% 17.19% 8.81% 10.33% 13.37% 13.76% 14.70% 12.51% 15.11% 15.52% 15.69% 13.61% 15.85% 14.94% 20.48% 17.33% 24.21% 22.69% 10.09% 14.82% 13.86% 10.20% 7.35%
Non-service pension and postretirement benefit expense 0.02 -0.03 -0.07 -0.10 -0.14 -0.11 -0.14 -0.04 -0.04 -0.04 -0.03 -0.27 -0.19 -0.20 -0.20 -0.11 -0.14 -0.11 -0.12 -0.12 -0.20 -0.25 -0.66
Interest expense -0.17 -0.20 -0.35 -0.20 -0.11 -0.18 -0.25 -0.37 -0.24 -0.30 -0.27 -0.33 -0.19 -0.31 -0.19 -0.22 -0.20 -0.17 -0.21 -0.27 -0.30 -0.39 -0.45
Income before income taxes 19.22% 16.96% 8.38% 10.03% 13.12% 13.47% 14.31% 12.11% 14.84% 15.19% 15.38% 13.01% 15.47% 14.43% 20.09% 17.00% 23.87% 22.41% 9.75% 14.43% 13.36% 9.56% 6.24%
Income tax expense -4.72 -3.97 -3.00 -1.78 -3.80 -4.22 -4.40 -2.29 -4.62 -4.55 -4.73 -3.20 -4.91 -4.34 -5.93 -6.21 -4.90 -5.72 -3.20 -3.26 -3.71 -2.31 -1.38
Net income including noncontrolling interests 14.50% 12.99% 5.38% 8.26% 9.32% 9.25% 9.91% 9.81% 10.22% 10.64% 10.65% 9.81% 10.55% 10.09% 14.16% 10.79% 18.96% 16.69% 6.55% 11.17% 9.66% 7.25% 4.86%
Net income attributable to noncontrolling interests -0.55 -0.31 -0.35 -0.13 -0.26 -0.34 -0.39 -0.43 -0.41 -0.37 -0.43 -0.47 -0.31 -0.34 -0.49 -0.33 -0.51 -0.65 -0.31 -0.26 -0.27 -0.14 -0.11
Net income attributable to ExxonMobil 13.95% 12.68% 5.03% 8.12% 9.06% 8.91% 9.52% 9.39% 9.81% 10.27% 10.22% 9.34% 10.24% 9.75% 13.67% 10.47% 18.46% 16.04% 6.25% 10.91% 9.39% 7.11% 4.74%

Based on: 10-Q (reporting date: 2026-09-30), 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 common-size income statement reveals a period of significant volatility in operating profitability, characterized by a substantial expansion of margins in 2022 followed by a period of stabilization and periodic fluctuations through 2026.

Revenue and Operating Performance
Operating income as a percentage of sales demonstrated a marked increase, peaking at 24.21% in September 2022. While margins retracted in the subsequent year, they generally remained above the 2021 baseline, ending the observed period at 19.37% in September 2026. This trajectory suggests a structural shift toward higher operational margins compared to the start of the period.
Primary Cost Drivers
Crude oil and product purchases represent the most significant expenditure, consistently consuming between 54% and 62% of revenue. Production and manufacturing expenses remained relatively stable, typically ranging between 9% and 15%, though a relative dip was observed during the high-margin window of mid-2022.
Operating Expenses and Depreciation
Selling, general, and administrative expenses showed a general downward trend relative to revenue, decreasing from 4.22% in March 2021 to a low of 2.17% in March 2026. Depreciation and depletion costs were more volatile, fluctuating between a low of 4.00% in June 2022 and peaks exceeding 10% in March 2022 and September 2025, reflecting varying cycles of asset impairment and investment.
Fiscal Obligations and Net Profitability
Other taxes and duties experienced a consistent long-term decline, falling from 11.57% in early 2021 to between 4% and 7% by 2026. Net income attributable to the company mirrored the volatility of operating income, reaching a peak of 18.46% in September 2022. Despite a significant contraction to 5.03% in March 2026, profitability recovered to 13.95% by September 2026.

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