Exxon Mobil Corp., current enterprise value calculation

Current share price (P)	$118.63
No. shares of common stock outstanding	4,395,094,536
US$ in millions
Common equity (market value)¹	521,390)
Add: Noncontrolling interests (per books)	7,736)
Total equity	529,126)
Add: Notes and loans payable (per books)	4,090)
Add: Long-term debt, excluding due within one year (per books)	37,483)
Total equity and debt	570,699)
Less: Cash and cash equivalents	31,539)
Enterprise value (EV)	539,160)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 118.63 × 4,395,094,536

Exxon Mobil Corp., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$104.32	$109.73	$76.77	$56.70	$53.01
No. shares of common stock outstanding¹	3,967,844,307	4,070,984,988	4,233,592,429	4,233,483,160	4,232,190,744
US$ in millions
Common equity (market value)³	413,926)	446,709)	325,013)	240,038)	224,348)
Add: Noncontrolling interests (book value)	7,736)	7,424)	7,106)	6,980)	7,288)
Total equity	421,662)	454,133)	332,119)	247,018)	231,636)
Add: Notes and loans payable (book value)	4,090)	634)	4,276)	20,458)	20,578)
Add: Long-term debt, excluding due within one year (book value)	37,483)	40,559)	43,428)	47,182)	26,342)
Total equity and debt	463,235)	495,326)	379,823)	314,658)	278,556)
Less: Cash and cash equivalents	31,539)	29,640)	6,802)	4,364)	3,089)
Enterprise value (EV)	431,696)	465,686)	373,021)	310,294)	275,467)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Exxon Mobil Corp. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 104.32 × 3,967,844,307

Download chart

Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Exxon Mobil Corp. EV increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Exxon Mobil Corp. (NYSE:XOM)

Enterprise Value (EV)