Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Exxon Mobil Corp., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Revenue and Income Trends
- The revenues and other income exhibit a pronounced volatility around early 2020, with a marked dip in the second quarter of 2020 followed by a steady recovery and growth trend through 2022. Peak revenues are observed in the second quarter of 2022, passing $115 billion. Subsequently, revenues show fluctuation but remain relatively elevated compared to the initial period, with a slight decline noted from the first quarter of 2023 into 2025. Income from equity affiliates and other income show variable patterns; equity affiliates income sharply rises through 2022 and early 2023 before exhibiting some softness and fluctuations, while other income increases notably in the fourth quarter of 2021 and again in late 2022 and 2023, indicating occasional significant gains.
- Cost and Expense Patterns
- Costs related to crude oil and product purchases fall sharply in mid-2020, aligning with revenue trends reflecting market disruption, and then steadily increase, peaking around mid-2022. This cost then shows variability with a mild downward trend towards 2025. Production and manufacturing expenses also gradually increase from mid-2020 through 2022 but slightly decline and stabilize thereafter. Selling, general, and administrative expenses maintain a relatively stable level throughout the period with only minor fluctuations. Depreciation and depletion expenses witness a significant outlier in the fourth quarter of 2020, driven presumably by impairment losses, followed by moderate but stable expenses thereafter. Exploration expenses remain consistently low relative to other costs with slight periodic increases but no notable trend.
- Profitability and Operating Results
- Operating income demonstrates substantial volatility. It records losses during 2020, especially in the fourth quarter reflecting tough market conditions but rebounds strongly in 2021, reaching peaks in early and mid-2022. While some decreases occur in 2023, the operating income remains positive and robust through early 2025. Net income follows a similar pattern, with significant losses in 2020, particularly in the fourth quarter, then recovering to strong profitability throughout 2021 and 2022, although experiencing some decline and oscillations in the later periods. The net income attributable to the company aligns closely with this pattern, suggesting consistent shareholder profitability after adjusting for noncontrolling interests.
- Tax and Expense Related Items
- Income tax expenses reflect swings corresponding to pre-tax income movements, with notable tax benefits during the 2020 downturn and considerable tax expenses aligning with the recovery periods in 2021 and 2022. Taxes tend to fluctuate but generally track income before income tax. Interest expense and pension and postretirement benefit expenses remain relatively stable over time, without significant trends or abrupt changes, representing consistent ongoing financial costs.
- Summary of Key Insights
- The data chronicles a significant impact from external disruptions in 2020, characterized by steep declines in revenue, spikes in impairments, and operating losses. Recovery is evident starting in 2021, with revenues and profitability improving markedly and peaking in 2022. Despite fluctuations afterward, the company maintains a solid operating performance and net profitability through 2025. Cost management shows some volatility but generally aligns with revenue cycles. The exceptional depreciation and depletion charge in late 2020 is a notable event influencing that period’s results significantly.