Exxon Mobil Corp (XOM)
Return on total capital
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 52,288,000 | 76,714,000 | 31,623,000 | -26,914,000 | 20,452,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 204,802,000 | 195,049,000 | 168,577,000 | 157,150,000 | 191,650,000 |
| Return on total capital | 25.53% | 39.33% | 18.76% | -17.13% | 10.67% |
December 31, 2023 calculation
Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $52,288,000K ÷ ($—K + $204,802,000K)
= 25.53%
Exxon Mobil Corp.'s return on total capital has exhibited significant variability over the past five years. In 2023, the return on total capital stood at 22.06%, demonstrating a decrease from the previous year's figure of 33.45%. This decline suggests a potential decrease in the company's efficiency in generating profits from its total capital in 2023 compared to 2022.
The return on total capital in 2021 was 15.24%, indicating an improvement from the negative figure of -11.80% in 2020. This positive turnaround suggests enhanced operational efficiency and profitability in 2021 compared to the challenging economic conditions faced in 2020.
In 2019, Exxon Mobil Corp.'s return on total capital was 9.27%, showcasing a modest increase compared to 2021. Overall, the company's return on total capital has fluctuated over the past five years, indicating varying levels of operational performance and capital utilization efficiency.
Peer comparison
Dec 31, 2023