Exxon Mobil Corp (XOM)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 36,010,000 | 55,740,000 | 23,040,000 | -22,440,000 | 14,340,000 |
| Total assets | US$ in thousands | 376,317,000 | 369,067,000 | 338,923,000 | 332,750,000 | 362,597,000 |
| ROA | 9.57% | 15.10% | 6.80% | -6.74% | 3.95% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $36,010,000K ÷ $376,317,000K
= 9.57%
Exxon Mobil Corp.'s return on assets (ROA) has experienced fluctuations over the past five years. In 2023, the ROA stood at 9.57%, reflecting the company's ability to generate profit from its assets. This represented a decrease from the previous year's ROA of 15.10%, suggesting a potential decrease in efficiency in asset utilization.
The ROA in 2021 was 6.80%, showing a moderate level of profitability relative to the size of the company's asset base. However, it saw a significant improvement from 2020, when the ROA was negative at -6.74%, indicating that the company was operating at a loss relative to its assets.
In 2019, Exxon Mobil Corp. saw an ROA of 3.95%, indicating a moderate level of profitability. Overall, the fluctuations in ROA highlight the company's changing efficiency in generating profits from its assets over the years, and further analysis would be required to understand the factors driving these changes.
Peer comparison
Dec 31, 2023