Exxon Mobil Corp (XOM)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 344,582,000 | 413,680,000 | 285,640,000 | 181,502,000 | 264,938,000 |
| Total assets | US$ in thousands | 376,317,000 | 369,067,000 | 338,923,000 | 332,750,000 | 362,597,000 |
| Total asset turnover | 0.92 | 1.12 | 0.84 | 0.55 | 0.73 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $344,582,000K ÷ $376,317,000K
= 0.92
Exxon Mobil Corp.'s total asset turnover ratio has fluctuated over the past five years, with a high of 1.09 in 2022 and a low of 0.54 in 2020. The total asset turnover ratio indicates how efficiently the company is utilizing its assets to generate revenue. A higher ratio generally suggests better asset utilization.
In 2023, the total asset turnover ratio decreased to 0.90 from the previous year, indicating a decrease in efficiency in generating revenue from its assets. This could be attributed to various factors such as changes in the company's sales volume, asset base, or overall operating efficiency.
It is important for Exxon Mobil Corp. to closely monitor and analyze its asset turnover ratio to ensure optimal utilization of its assets and to identify potential areas for improvement in operational efficiency and revenue generation.
Peer comparison
Dec 31, 2023