A Common Sense Approach to Successful Investing by Marvin Doniger

Author:Marvin Doniger [Doniger, Marvin]
Language: eng
Format: epub
Publisher: Xlibris Inc.
Published: 0101-01-01T00:00:00+00:00

From an operational perspective, ExxonMobil improved while ConocoPhillips did not. This was in part due to the 439.0 percent increase in the price of oil from $11.91 per barrel in 1998 to $64.20 in 2007. It should be noted that ConocoPhillips 2008 financial results were adversely impacted by a fourth quarter write-down of $2.4 billion on exploration and production goodwill and $7.4 billion impairment on the book value of its investment in Lukoil.

Management Efficiency

o From 2000 to 2008, ConocoPhillips’ Revenue per Employee increased 294.1 percent from $1.7 million to $6.7 million. From 2001 to 2008, ExxonMobil’s increased 178.9 percent from $1.9 million to $5.3 million.

o ConocoPhillips’ Income per Employee from 2000 to 2008 decreased from $150.2 thousand to a loss of $502.9 thousand. ExxonMobil was more efficient in transforming its Revenue per Employee into Income per Employee. It increased 266.8 percent from $154.3 thousand in 2001 to $566.0 in 2008.

Profit Margins

o From1999 to 2008, ConocoPhillips’ Gross Margins decreased from 17.8 to 17.6 percent, a CAGR of minus 0.1 percent; ExxonMobil’s increased from 9.7 to 16.5 percent, a CAGR of 5.5 percent.

o With respect to Pre-Tax Margins, ConocoPhillips’ decreased from 8.6 percent to minus 1.6; ExxonMobil’s increased from 6.1 to 17.1 percent, a CAGR of 10.9 percent.

o The Net Profit Margin of Conoco Phillips declined from 1999’s 4.4 percent to 2008’s minus 7.5 percent; Exxon Mobil’s increased from 4.3 to 9.5 percent, a CAGR of 8.3 percent.

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