Income statement analysis
ExxonMobil ‘s total revenues and other income were $344.6 billion, $413.7 billion and $285.6 billion in 2023, 2022 and 2021, respectively.
Total revenues and other income in 2023 were down 16.7% year-on-year.
Total revenue and other income in 2022 were up 44.8% year-on-year.
We could see that the volatility of revenues and other income is very huge.
We think that the fluctuations of energy price are a key factor , affecting the company’s revenues.
We think we have not ability to predict energy price.
Net income attributable to ExxonMobil was $36 billion, $55.7 billion and $23 billion in 2023, 2022 and 2021, respectively.
Cash flow analysis
Net cash provided by operating activities was $55.4 billion, $76.8 billion and $48.1 billion in 2023, 2022 and 2021, respectively.
Free cash flow was $33.3 billion, $58.4 billion and $36.1 billion in 2023, 2022 and 2021, respectively.
Cash dividends to ExxonMobil shareholders were $15 billion, $15 billion and $15 billion in 2023, 2022 and 2021, respectively.
Common stock acquired was $17.7 billion, $15.2 billion and $155 million in 2023, 2022 and 2021, respectively.
We roughly estimate that ExxonMobil could generate free cash flow of $ 30 billion each year, this is conservative estimate.
Balance sheet analysis
ExxonMobil’s total assets were $376.3 billion and $369 billion in 2023 and 2022, respectively.
Property, plant and equipment was $215 billion in 2023, accounting for 57% of total assets.
Total current assets were $96.6 billion in 2023, consisting of 25.7% of total assets.
Total current liabilities were $65.3 billion in 2023.
The current ratio was 1.48 times.
Total liabilities were $163.8 billion in 2023.
The debt ratio was 43.5%.
We think that ExxonMobil’s balance sheet is very healthy.
Conclusion
Energy price is an important factor, affecting operating results.
ExxonMobil ‘s balance sheet is very healthy.
We reckon that ExxonMobil is worth about $400 billion.
Introduction
Exxon Mobil Corporation was incorporated in the State of New Jersey in 1882. Divisions and affiliated companies of ExxonMobil operate or market products in the United States and most other countries of the world. Our principal business involves exploration for, and production of, crude oil and natural gas; manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals, and a wide variety of specialty products; and pursuit of lower-emission business opportunities including carbon capture and storage, hydrogen, lower-emission fuels, and lithium. Affiliates of ExxonMobil conduct extensive research programs in support of these businesses.
