Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

Analysis of Liquidity Ratios

Microsoft Excel

Liquidity Ratios (Summary)

Chevron Corp., liquidity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Current ratio 1.27 1.47 1.26 1.18 1.07
Quick ratio 0.87 1.12 0.90 0.77 0.72
Cash ratio 0.25 0.52 0.21 0.25 0.22

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).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Chevron Corp. current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Chevron Corp. quick ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Chevron Corp. cash ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Current Ratio

Chevron Corp., current ratio 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 41,128 50,343 33,738 26,078 28,329
Current liabilities 32,258 34,208 26,791 22,183 26,530
Liquidity Ratio
Current ratio1 1.27 1.47 1.26 1.18 1.07
Benchmarks
Current Ratio, Competitors2
ConocoPhillips 1.43 1.46 1.34 2.25 2.40
Exxon Mobil Corp. 1.48 1.41 1.04 0.80 0.78
Marathon Petroleum Corp. 1.59 1.76 1.70 1.81 1.25
Occidental Petroleum Corp. 0.92 1.15 1.23 1.07 1.25
Pioneer Natural Resources Co. 0.88 0.96 1.52 1.36 0.88
Valero Energy Corp. 1.56 1.38 1.26 1.71 1.44
Current Ratio, Sector
Oil, Gas & Consumable Fuels 1.41 1.44 1.24 1.16 1.08
Current Ratio, Industry
Energy 1.41 1.43 1.24 1.17 1.09

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
Current ratio = Current assets ÷ Current liabilities
= 41,128 ÷ 32,258 = 1.27

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Chevron Corp. current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Quick Ratio

Chevron Corp., quick ratio 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)
Cash and cash equivalents 8,178 17,678 5,640 5,596 5,686
Marketable securities 45 223 35 31 63
Accounts and notes receivable, less allowance 19,921 20,456 18,419 11,471 13,325
Total quick assets 28,144 38,357 24,094 17,098 19,074
 
Current liabilities 32,258 34,208 26,791 22,183 26,530
Liquidity Ratio
Quick ratio1 0.87 1.12 0.90 0.77 0.72
Benchmarks
Quick Ratio, Competitors2
ConocoPhillips 1.21 1.27 1.10 1.98 1.93
Exxon Mobil Corp. 1.06 1.03 0.69 0.44 0.47
Marathon Petroleum Corp. 1.08 1.26 1.22 0.39 0.58
Occidental Petroleum Corp. 0.51 0.68 0.84 0.50 0.63
Pioneer Natural Resources Co. 0.66 0.79 1.41 1.22 0.77
Valero Energy Corp. 1.07 0.96 0.86 1.01 0.88
Quick Ratio, Sector
Oil, Gas & Consumable Fuels 1.00 1.07 0.88 0.63 0.66
Quick Ratio, Industry
Energy 0.99 1.05 0.88 0.64 0.67

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
Quick ratio = Total quick assets ÷ Current liabilities
= 28,144 ÷ 32,258 = 0.87

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Chevron Corp. quick ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Cash Ratio

Chevron Corp., cash ratio 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)
Cash and cash equivalents 8,178 17,678 5,640 5,596 5,686
Marketable securities 45 223 35 31 63
Total cash assets 8,223 17,901 5,675 5,627 5,749
 
Current liabilities 32,258 34,208 26,791 22,183 26,530
Liquidity Ratio
Cash ratio1 0.25 0.52 0.21 0.25 0.22
Benchmarks
Cash Ratio, Competitors2
ConocoPhillips 0.66 0.72 0.55 1.46 1.45
Exxon Mobil Corp. 0.48 0.43 0.12 0.08 0.05
Marathon Petroleum Corp. 0.51 0.59 0.61 0.03 0.09
Occidental Petroleum Corp. 0.16 0.13 0.33 0.24 0.20
Pioneer Natural Resources Co. 0.13 0.31 1.00 0.85 0.36
Valero Energy Corp. 0.32 0.28 0.24 0.36 0.20
Cash Ratio, Sector
Oil, Gas & Consumable Fuels 0.41 0.46 0.29 0.21 0.19
Cash Ratio, Industry
Energy 0.40 0.44 0.29 0.22 0.19

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 ratio = Total cash assets ÷ Current liabilities
= 8,223 ÷ 32,258 = 0.25

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Chevron Corp. cash ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.