Enterprise Value (EV)
Current Enterprise Value (EV)
Exxon Mobil Corp., current enterprise value calculation
| Current share price (P) | $113.92 |
| No. shares of common stock outstanding | 4,309,638,821 |
| US$ in millions | |
| Common equity (market value)1 | 490,954) |
| Add: Noncontrolling interests (per books) | 6,901) |
| Total equity | 497,855) |
| Add: Notes and loans payable (per books) | 4,955) |
| Add: Long-term debt, excluding due within one year (per books) | 36,755) |
| Total equity and debt | 539,565) |
| Less: Cash and cash equivalents | 23,029) |
| Enterprise value (EV) | 516,536) |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 113.92 × 4,309,638,821
Historical Enterprise Value (EV)
Exxon Mobil Corp., EV calculation
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Exxon Mobil Corp. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 110.30 × 4,339,143,313
- Common equity (market value)
- The common equity market value shows a consistent upward trend from 2020 through 2024. It increased significantly from 240,038 million USD in 2020 to 325,013 million USD in 2021, representing strong growth. This growth continued robustly into 2022, reaching 446,709 million USD, marking a substantial increase over the previous years. Although there was a decline in 2023 to 413,926 million USD, the value rebounded in 2024 to 478,608 million USD, achieving the highest level in the period examined. This pattern suggests effective value creation with slight volatility in 2023.
- Total equity
- Total equity follows a trajectory similar to common equity, reflecting growth overall. It rose from 247,018 million USD in 2020 to 332,119 million USD in 2021, then experienced a sharp increase to 454,133 million USD in 2022. However, like common equity, total equity experienced a decrease in 2023 to 421,662 million USD, before climbing again in 2024 to 485,509 million USD. The fluctuations indicate underlying changes in retained earnings, capital stock, or other equity components, but the long-term trend remains positive.
- Total equity and debt
- This combined metric shows growth from 314,658 million USD in 2020 to 379,823 million USD in 2021, then a marked increase to 495,326 million USD in 2022. In 2023, it declined somewhat to 463,235 million USD, before rising again in 2024 to 527,219 million USD. The pattern mirrors that of total equity, with a dip in 2023 possibly attributable to changes in debt structure or repayments. Overall, this indicates increasing leverage capacity or capital structure expansion over the five-year period.
- Enterprise value (EV)
- Enterprise value follows a consistent pattern closely aligned with total equity and debt. Starting at 310,294 million USD in 2020, it climbed to 373,021 million USD in 2021, then once more rose to 465,686 million USD in 2022. There was a decrease in 2023 to 431,696 million USD, followed by an increase in 2024 to 504,190 million USD. This trend reflects the market’s valuation of the company's total capital, factoring in debt and equity, and suggests overall market confidence with temporary contraction in 2023.