Exxon Mobil Corp (XOM)
Fixed asset turnover
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 344,582,000 | 355,667,000 | 376,977,000 | 409,744,000 | 413,680,000 | 403,216,000 | 364,932,000 | 316,993,000 | 285,640,000 | 247,215,000 | 219,628,000 | 184,491,000 | 181,502,000 | 202,135,000 | 220,985,000 | 257,471,000 | 264,938,000 | 269,660,000 | 281,216,000 | 283,581,000 |
| Property, plant and equipment | US$ in thousands | 214,940,000 | 205,862,000 | 206,736,000 | 206,023,000 | 204,692,000 | 203,102,000 | 209,159,000 | 212,773,000 | 216,552,000 | 218,795,000 | 223,012,000 | 224,641,000 | 227,553,000 | 250,496,000 | 250,524,000 | 248,409,000 | 253,018,000 | 250,512,000 | 250,853,000 | 248,563,000 |
| Fixed asset turnover | 1.60 | 1.73 | 1.82 | 1.99 | 2.02 | 1.99 | 1.74 | 1.49 | 1.32 | 1.13 | 0.98 | 0.82 | 0.80 | 0.81 | 0.88 | 1.04 | 1.05 | 1.08 | 1.12 | 1.14 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $344,582,000K ÷ $214,940,000K
= 1.60
Exxon Mobil Corp.'s fixed asset turnover has displayed some fluctuation over the past eight quarters. The fixed asset turnover ratio measures how efficiently the company is utilizing its fixed assets to generate revenue. A higher ratio indicates that the company is generating more revenue per dollar of fixed assets.
In Q1 2022, the fixed asset turnover was 1.45, indicating that the company generated $1.45 in revenue for every dollar of fixed assets. The ratio increased gradually over the next three quarters, reaching a peak of 1.93 in Q1 2023, suggesting improved efficiency in asset utilization during that period.
However, in Q2 2023 and Q3 2023, the fixed asset turnover ratio declined to 1.78 and 1.70, respectively. This may indicate a decrease in revenue generated per dollar of fixed assets, possibly due to factors such as slower sales growth or increased investment in fixed assets.
In Q4 2023, the fixed asset turnover ratio further decreased to 1.57, signaling a continued decline in asset efficiency compared to the previous quarters. It is essential for the company to monitor this ratio closely to ensure optimal utilization of its fixed assets and maximize profitability.
Peer comparison
Dec 31, 2023