Exxon Beneish M Score

Stocks . USA . 
Stock . Exxon Mobil Corp
XOM Stock  USD 102.02  2.95  2.81%   
This module uses fundamental data of Exxon to approximate the value of its Beneish M Score. Exxon M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Check out Exxon Piotroski F Score and Exxon Altman Z Score analysis.
  
Exxon Total Debt is very stable at the moment as compared to the past year. Exxon reported last year Total Debt of 41.19 Billion. As of 31st of May 2023, Debt Current is likely to grow to about 650.7 M, while Debt Non Current is likely to drop about 36 B. Exxon Cash Flow Per Share is very stable at the moment as compared to the past year. Exxon reported last year Cash Flow Per Share of 18.81. As of 31st of May 2023, Revenue to Assets is likely to grow to 1.16, while PPandE Turnover is likely to drop 1.90.
At this time, it appears that Exxon Mobil Corp is a possible manipulator. The earnings manipulation may begin if Exxon's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Exxon executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Exxon's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-1.55
Beneish M Score - Possible Manipulator
Elasticity of Receivables1.08Focus
Asset Quality2.95Focus
Expense Coverage1.18Focus
Gross Margin Strengs0.98Focus
Accruals Factor1.18Focus
Depreciation Resistance0.97Focus
Net Sales Growth0.85Focus
Financial Leverage Condition1.02Focus

Exxon Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Exxon's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Selling General and Administrative Expense10.1 B10.1 B
Slightly Down
Slightly volatile
Revenues350.5 B413.7 B
Fairly Down
Slightly volatile
Trade and Non Trade Receivables38.3 B41.7 B
Significantly Down
Very volatile
Property Plant and Equipment Net208 B204.7 B
Fairly Up
Slightly volatile
Operating Income84.8 B78.6 B
Significantly Up
Pretty Stable
Net Cash Flow from Operations63.3 B76.8 B
Significantly Down
Very volatile
Liabilities Non Current110 B97.5 B
Moderately Up
Slightly volatile
Current Liabilities61.7 B69 B
Moderately Down
Pretty Stable
Total Liabilities181.2 B166.6 B
Significantly Up
Slightly volatile
Investments Non Current49.2 B49.8 B
Fairly Down
Slightly volatile
Investments49.2 B49.8 B
Fairly Down
Slightly volatile
Gross Margin0.270.276
Fairly Down
Pretty Stable
Depreciation Amortization and Accretion25.2 B24 B
Sufficiently Up
Slightly volatile
Debt Non Current36 B40.6 B
Fairly Down
Slightly volatile
Debt Current650.7 M634 M
Fairly Up
Very volatile
Total Debt44.2 B41.2 B
Notably Up
Slightly volatile
Assets Non Current264.9 B271.4 B
Fairly Down
Very volatile
Current Assets83.4 B97.6 B
Fairly Down
Pretty Stable
Total Assets394 B369.1 B
Notably Up
Slightly volatile

Exxon Mobil Corp Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Exxon's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Exxon in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Exxon's degree of accounting gimmicks and manipulations.
Click cells to compare fundamentals

About Exxon Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Operating Expenses

39.21 Billion

Exxon Operating Expenses is very stable at the moment as compared to the past year. Exxon reported last year Operating Expenses of 35.64 Billion

Exxon Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Exxon. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201820192020202120222023 (projected)
Revenues290.21 B264.94 B181.5 B285.64 B413.68 B350.49 B
Total Assets346.2 B362.6 B332.75 B338.92 B369.07 B394 B
Current Assets47.97 B50.05 B44.89 B59.15 B97.63 B83.36 B
Assets Non Current298.22 B312.55 B287.86 B279.77 B271.44 B264.88 B
Total Liabilities147.67 B163.66 B168.62 B163.24 B166.59 B181.22 B
Current Liabilities57.14 B63.99 B56.36 B56.64 B69.05 B61.72 B
Total Debt37.8 B46.92 B67.64 B47.7 B41.19 B44.23 B
Debt Current17.26 B20.58 B20.46 B4.28 B634 M650.68 M
Debt Non Current20.54 B26.34 B47.18 B43.43 B40.56 B35.97 B
Operating Income31.72 B20.89 B(27.73 B)32.18 B78.55 B84.75 B
Investments40.79 B43.16 B43.52 B45.2 B49.79 B49.22 B

Exxon ESG Sustainability

Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Exxon's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Exxon's managers, analysts, and investors.
Environment Score
Governance Score
Social Score

About Exxon Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Exxon Mobil Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Exxon using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Exxon Mobil Corp based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. The company was founded in 1870 and is headquartered in Irving, Texas. Exxon operates under Oil Gas Integrated classification in the United States and is traded on New York Stock Exchange. It employs 63000 people.

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Is Exxon's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Exxon. If investors know Exxon will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Exxon listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
1.177
Dividend Share
3.58
Earnings Share
14.77
Revenue Per Share
95.686
Quarterly Revenue Growth
(0.043) 
The market value of Exxon Mobil Corp is measured differently than its book value, which is the value of Exxon that is recorded on the company's balance sheet. Investors also form their own opinion of Exxon's value that differs from its market value or its book value, called intrinsic value, which is Exxon's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Exxon's market value can be influenced by many factors that don't directly affect Exxon's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Altman
Z Score
Details
Piotroski
F Score
Details
Beneish
M Score
Details
Financial
Analysis
Details
Buy or Sell
Advice
Details
Earnings
Projections
Details
Please note, there is a significant difference between Exxon's value and its price as these two are different measures arrived at by different means. Investors typically determine if Exxon is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Exxon's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party. Check out Exxon Piotroski F Score and Exxon Altman Z Score analysis.


 
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