Ratios (Summary)

Chevron Corp., profitability ratios

 
Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009
Return on Sales
Gross profit margin 23.77% 25.69% 26.48% 27.22% 24.96%
Operating profit margin 12.36% 15.18% 15.67% 12.80% 8.56%
Net profit margin 9.73% 11.35% 11.01% 9.60% 6.26%
Return on Investment
Return on equity (ROE) 14.37% 19.18% 22.16% 18.10% 11.41%
Return on assets (ROA) 8.44% 11.24% 12.84% 10.30% 6.37%

Source: Based on data from Chevron Corp. Annual Reports

Ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Chevron Corp.'s gross profit margin deteriorated from 2011 to 2012 and from 2012 to 2013.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Chevron Corp.'s operating profit margin deteriorated from 2011 to 2012 and from 2012 to 2013.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Chevron Corp.'s net profit margin improved from 2011 to 2012 but then deteriorated significantly from 2012 to 2013.
ROE A profitability ratio calculated as net income divided by shareholders' equity. Chevron Corp.'s ROE deteriorated from 2011 to 2012 and from 2012 to 2013.
ROA A profitability ratio calculated as net income divided by total assets. Chevron Corp.'s ROA deteriorated from 2011 to 2012 and from 2012 to 2013.

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Gross Profit Margin

Chevron Corp., gross profit margin calculation

 
Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009
Selected Financial Data (USD $ in millions)
Gross profit 52,341  59,244  64,714  53,952  41,783 
Sales and other operating revenues 220,156  230,590  244,371  198,198  167,402 
Ratio
Gross profit margin1 23.77% 25.69% 26.48% 27.22% 24.96%

Source: Based on data from Chevron Corp. Annual Reports

2013 Calculations

1 Gross profit margin = 100 × Gross profit ÷ Sales and other operating revenues
= 100 × 52,341 ÷ 220,156 = 23.77%

Ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Chevron Corp.'s gross profit margin deteriorated from 2011 to 2012 and from 2012 to 2013.

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Operating Profit Margin

Chevron Corp., operating profit margin calculation, comparison to benchmarks

 
Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009
Selected Financial Data (USD $ in millions)
Operating income 27,213  35,013  38,299  25,375  14,322 
Sales and other operating revenues 220,156  230,590  244,371  198,198  167,402 
Ratio
Operating profit margin1 12.36% 15.18% 15.67% 12.80% 8.56%
Benchmarks
Operating Profit Margin, Competitors
BP PLC 3.87% 1.87% 7.69% -5.22% 8.17%
ConocoPhillips 20.52% 20.94% 7.17% 6.24% 5.21%
Exxon Mobil Corp. 9.58% 11.01% 11.58% 10.84% 8.70%
Royal Dutch Shell PLC 5.73% 7.84% 8.91% 6.93% 4.99%
Operating Profit Margin, Sector
Integrated Oil & Gas 7.82% 8.88% 10.03% 6.13% 7.20%
Operating Profit Margin, Industry
Oil & Gas 8.37% 9.20% 10.08% 6.63% 7.90%

Source: Based on data from Chevron Corp. Annual Reports

2013 Calculations

1 Operating profit margin = 100 × Operating income ÷ Sales and other operating revenues
= 100 × 27,213 ÷ 220,156 = 12.36%

Ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Chevron Corp.'s operating profit margin deteriorated from 2011 to 2012 and from 2012 to 2013.

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Net Profit Margin

Chevron Corp., net profit margin calculation, comparison to benchmarks

 
Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009
Selected Financial Data (USD $ in millions)
Net income attributable to Chevron Corporation 21,423  26,179  26,895  19,024  10,483 
Sales and other operating revenues 220,156  230,590  244,371  198,198  167,402 
Ratio
Net profit margin1 9.73% 11.35% 11.01% 9.60% 6.26%
Benchmarks
Net Profit Margin, Competitors
BP PLC 6.19% 3.08% 6.84% -1.25% 6.93%
ConocoPhillips 16.83% 14.54% 5.08% 6.00% 3.25%
Exxon Mobil Corp. 7.74% 9.90% 8.79% 8.23% 6.39%
Royal Dutch Shell PLC 3.63% 5.69% 6.58% 5.47% 4.50%
Net Profit Margin, Sector
Integrated Oil & Gas 6.75% 7.43% 7.60% 5.43% 5.61%
Net Profit Margin, Industry
Oil & Gas 6.92% 7.39% 7.54% 5.63% 5.93%

Source: Based on data from Chevron Corp. Annual Reports

2013 Calculations

1 Net profit margin = 100 × Net income attributable to Chevron Corporation ÷ Sales and other operating revenues
= 100 × 21,423 ÷ 220,156 = 9.73%

Ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Chevron Corp.'s net profit margin improved from 2011 to 2012 but then deteriorated significantly from 2012 to 2013.

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Return on Equity (ROE)

Chevron Corp., ROE calculation, comparison to benchmarks

 
Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009
Selected Financial Data (USD $ in millions)
Net income attributable to Chevron Corporation 21,423  26,179  26,895  19,024  10,483 
Total Chevron Corporation stockholders' equity 149,113  136,524  121,382  105,081  91,914 
Ratio
ROE1 14.37% 19.18% 22.16% 18.10% 11.41%
Benchmarks
ROE, Competitors
BP PLC 18.14% 9.78% 23.06% -3.92% 16.31%
ConocoPhillips 17.58% 17.56% 19.07% 16.57% 7.78%
Exxon Mobil Corp. 18.72% 27.06% 26.59% 20.74% 17.44%
Royal Dutch Shell PLC 9.09% 14.11% 18.24% 13.60% 9.18%
ROE, Sector
Integrated Oil & Gas 15.04% 17.90% 22.03% 13.71% 12.67%
ROE, Industry
Oil & Gas 14.41% 16.62% 20.06% 12.83% 11.70%

Source: Based on data from Chevron Corp. Annual Reports

2013 Calculations

1 ROE = 100 × Net income attributable to Chevron Corporation ÷ Total Chevron Corporation stockholders' equity
= 100 × 21,423 ÷ 149,113 = 14.37%

Ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders' equity. Chevron Corp.'s ROE deteriorated from 2011 to 2012 and from 2012 to 2013.

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Return on Assets (ROA)

Chevron Corp., ROA calculation, comparison to benchmarks

 
Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009
Selected Financial Data (USD $ in millions)
Net income attributable to Chevron Corporation 21,423  26,179  26,895  19,024  10,483 
Total assets 253,753  232,982  209,474  184,769  164,621 
Ratio
ROA1 8.44% 11.24% 12.84% 10.30% 6.37%
Benchmarks
ROA, Competitors
BP PLC 7.67% 3.86% 8.77% -1.37% 7.03%
ConocoPhillips 7.76% 7.19% 8.12% 7.27% 3.18%
Exxon Mobil Corp. 9.39% 13.45% 12.40% 10.07% 8.26%
Royal Dutch Shell PLC 4.58% 7.38% 8.96% 6.24% 4.28%
ROA, Sector
Integrated Oil & Gas 7.45% 8.75% 10.29% 6.24% 5.91%
ROA, Industry
Oil & Gas 7.25% 8.26% 9.67% 6.10% 5.62%

Source: Based on data from Chevron Corp. Annual Reports

2013 Calculations

1 ROA = 100 × Net income attributable to Chevron Corporation ÷ Total assets
= 100 × 21,423 ÷ 253,753 = 8.44%

Ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Chevron Corp.'s ROA deteriorated from 2011 to 2012 and from 2012 to 2013.

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