Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Short-term Activity Ratios (Summary)

Exxon Mobil Corp., short-term (operating) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Turnover Ratios
Inventory turnover 13.32 16.32 14.73 9.47 13.79
Receivables turnover 11.05 12.14 10.29 10.93 12.11
Payables turnover 10.71 12.02 10.39 10.20 10.35
Working capital turnover 10.70 13.95 110.19
Average No. Days
Average inventory processing period 27 22 25 39 26
Add: Average receivable collection period 33 30 35 33 30
Operating cycle 60 52 60 72 56
Less: Average payables payment period 34 30 35 36 35
Cash conversion cycle 26 22 25 36 21

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Exxon Mobil Corp. inventory turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Receivables turnover An activity ratio equal to revenue divided by receivables. Exxon Mobil Corp. receivables turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Exxon Mobil Corp. payables turnover ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Exxon Mobil Corp. working capital turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Exxon Mobil Corp. number of days of inventory outstanding improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Exxon Mobil Corp. number of days of receivables outstanding improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Exxon Mobil Corp. number of days of payables outstanding decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Exxon Mobil Corp. cash conversion cycle improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Inventory Turnover

Exxon Mobil Corp., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales and other operating revenue 334,697 398,675 276,692 178,574 255,583
Inventories 25,120 24,435 18,780 18,850 18,528
Short-term Activity Ratio
Inventory turnover1 13.32 16.32 14.73 9.47 13.79
Benchmarks
Inventory Turnover, Competitors2
Chevron Corp. 22.86 28.58 24.68 16.64 23.92
ConocoPhillips 40.16 64.39 37.94 18.75 31.74
Marathon Petroleum Corp. 13.80 17.18 13.66 8.22 10.76
Occidental Petroleum Corp. 13.97 17.79 14.06 9.38 14.09
Valero Energy Corp. 17.39 23.64 17.69 10.87 14.76
Inventory Turnover, Sector
Oil, Gas & Consumable Fuels 16.21 20.58 17.07 10.64 15.01
Inventory Turnover, Industry
Energy 15.45 19.51 16.27 10.31 14.32

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Inventory turnover = Sales and other operating revenue ÷ Inventories
= 334,697 ÷ 25,120 = 13.32

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Exxon Mobil Corp. inventory turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Receivables Turnover

Exxon Mobil Corp., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales and other operating revenue 334,697 398,675 276,692 178,574 255,583
Notes and accounts receivable, trade, less reserves 30,296 32,844 26,883 16,339 21,100
Short-term Activity Ratio
Receivables turnover1 11.05 12.14 10.29 10.93 12.11
Benchmarks
Receivables Turnover, Competitors2
Chevron Corp. 9.88 11.52 8.45 8.24 10.50
ConocoPhillips 10.28 11.09 7.00 7.13 9.97
Marathon Petroleum Corp. 12.77 13.17 10.87 12.11 15.75
Occidental Petroleum Corp. 8.84 8.56 6.17 8.42 3.20
Valero Energy Corp. 13.12 16.39 11.43 13.50 13.44
Receivables Turnover, Sector
Oil, Gas & Consumable Fuels 11.15 12.41 9.58 10.30 11.35
Receivables Turnover, Industry
Energy 10.55 11.79 9.24 9.67 10.53

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Receivables turnover = Sales and other operating revenue ÷ Notes and accounts receivable, trade, less reserves
= 334,697 ÷ 30,296 = 11.05

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Exxon Mobil Corp. receivables turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Payables Turnover

Exxon Mobil Corp., payables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales and other operating revenue 334,697 398,675 276,692 178,574 255,583
Trade payables 31,249 33,169 26,623 17,499 24,694
Short-term Activity Ratio
Payables turnover1 10.71 12.02 10.39 10.20 10.35
Benchmarks
Payables Turnover, Competitors2
Chevron Corp. 9.64 12.44 9.46 8.63 9.92
ConocoPhillips 11.04 12.84 9.16 7.04 10.25
Marathon Petroleum Corp. 9.34 9.91 8.03 8.42 9.48
Occidental Petroleum Corp. 7.75 9.09 6.66 5.96 2.91
Valero Energy Corp. 10.49 12.54 8.87 10.79 10.15
Payables Turnover, Sector
Oil, Gas & Consumable Fuels 10.11 11.75 9.27 9.19 9.35
Payables Turnover, Industry
Energy 9.89 11.50 9.15 9.07 9.14

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Payables turnover = Sales and other operating revenue ÷ Trade payables
= 334,697 ÷ 31,249 = 10.71

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Exxon Mobil Corp. payables turnover ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Working Capital Turnover

Exxon Mobil Corp., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current assets 96,609 97,631 59,154 44,893 50,052
Less: Current liabilities 65,316 69,045 56,643 56,363 63,989
Working capital 31,293 28,586 2,511 (11,470) (13,937)
 
Sales and other operating revenue 334,697 398,675 276,692 178,574 255,583
Short-term Activity Ratio
Working capital turnover1 10.70 13.95 110.19
Benchmarks
Working Capital Turnover, Competitors2
Chevron Corp. 22.20 14.61 22.40 24.25 77.75
ConocoPhillips 12.98 13.30 11.37 2.80 3.30
Marathon Petroleum Corp. 12.38 11.66 9.52 5.53 30.81
Occidental Petroleum Corp. 32.45 13.76 29.88 5.46
Valero Energy Corp. 15.37 26.44 26.42 9.89 18.65
Working Capital Turnover, Sector
Oil, Gas & Consumable Fuels 13.96 14.98 22.86 23.50 60.26
Working Capital Turnover, Industry
Energy 13.57 14.76 22.01 21.93 51.98

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Working capital turnover = Sales and other operating revenue ÷ Working capital
= 334,697 ÷ 31,293 = 10.70

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Exxon Mobil Corp. working capital turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Average Inventory Processing Period

Exxon Mobil Corp., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Inventory turnover 13.32 16.32 14.73 9.47 13.79
Short-term Activity Ratio (no. days)
Average inventory processing period1 27 22 25 39 26
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Chevron Corp. 16 13 15 22 15
ConocoPhillips 9 6 10 19 11
Marathon Petroleum Corp. 26 21 27 44 34
Occidental Petroleum Corp. 26 21 26 39 26
Valero Energy Corp. 21 15 21 34 25
Average Inventory Processing Period, Sector
Oil, Gas & Consumable Fuels 23 18 21 34 24
Average Inventory Processing Period, Industry
Energy 24 19 22 35 25

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 13.32 = 27

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Exxon Mobil Corp. number of days of inventory outstanding improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Average Receivable Collection Period

Exxon Mobil Corp., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Receivables turnover 11.05 12.14 10.29 10.93 12.11
Short-term Activity Ratio (no. days)
Average receivable collection period1 33 30 35 33 30
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Chevron Corp. 37 32 43 44 35
ConocoPhillips 36 33 52 51 37
Marathon Petroleum Corp. 29 28 34 30 23
Occidental Petroleum Corp. 41 43 59 43 114
Valero Energy Corp. 28 22 32 27 27
Average Receivable Collection Period, Sector
Oil, Gas & Consumable Fuels 33 29 38 35 32
Average Receivable Collection Period, Industry
Energy 35 31 40 38 35

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 11.05 = 33

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Exxon Mobil Corp. number of days of receivables outstanding improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Operating Cycle

Exxon Mobil Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Average inventory processing period 27 22 25 39 26
Average receivable collection period 33 30 35 33 30
Short-term Activity Ratio
Operating cycle1 60 52 60 72 56
Benchmarks
Operating Cycle, Competitors2
Chevron Corp. 53 45 58 66 50
ConocoPhillips 45 39 62 70 48
Marathon Petroleum Corp. 55 49 61 74 57
Occidental Petroleum Corp. 67 64 85 82 140
Valero Energy Corp. 49 37 53 61 52
Operating Cycle, Sector
Oil, Gas & Consumable Fuels 56 47 59 69 56
Operating Cycle, Industry
Energy 59 50 62 73 60

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 27 + 33 = 60

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

Exxon Mobil Corp., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Payables turnover 10.71 12.02 10.39 10.20 10.35
Short-term Activity Ratio (no. days)
Average payables payment period1 34 30 35 36 35
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Chevron Corp. 38 29 39 42 37
ConocoPhillips 33 28 40 52 36
Marathon Petroleum Corp. 39 37 45 43 38
Occidental Petroleum Corp. 47 40 55 61 126
Valero Energy Corp. 35 29 41 34 36
Average Payables Payment Period, Sector
Oil, Gas & Consumable Fuels 36 31 39 40 39
Average Payables Payment Period, Industry
Energy 37 32 40 40 40

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 10.71 = 34

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Exxon Mobil Corp. number of days of payables outstanding decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Cash Conversion Cycle

Exxon Mobil Corp., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Average inventory processing period 27 22 25 39 26
Average receivable collection period 33 30 35 33 30
Average payables payment period 34 30 35 36 35
Short-term Activity Ratio
Cash conversion cycle1 26 22 25 36 21
Benchmarks
Cash Conversion Cycle, Competitors2
Chevron Corp. 15 16 19 24 13
ConocoPhillips 12 11 22 18 12
Marathon Petroleum Corp. 16 12 16 31 19
Occidental Petroleum Corp. 20 24 30 21 14
Valero Energy Corp. 14 8 12 27 16
Cash Conversion Cycle, Sector
Oil, Gas & Consumable Fuels 20 16 20 29 17
Cash Conversion Cycle, Industry
Energy 22 18 22 33 20

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 27 + 3334 = 26

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Exxon Mobil Corp. cash conversion cycle improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.