Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Analysis of Revenues
- Aggregate Accruals
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Chevron Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Short-term debt
- The proportion of short-term debt relative to total liabilities and equity shows variability with low percentages mostly below 1%, except for some intermittent quarters such as March 2020, June 2021, and March 2025 when it peaks around or above 2%. No sustained upward or downward trend is evident, indicating fluctuating short-term borrowing needs.
- Accounts payable
- Accounts payable represents a growing share of total liabilities and equity over the periods analyzed. Starting at 4.65% in March 2020, the figure peaks near 9.66% in June 2022, then settles to a range around 7-8% in later quarters. The overall pattern implies an increasing reliance on trade credit over time with some recent stabilization.
- Accrued liabilities
- Accrued liabilities remain relatively stable, fluctuating narrowly between approximately 2.6% and 3.5% throughout the timeframe. This stability suggests consistent obligations accruing but no major changes in management or timing of expenses.
- Federal and other taxes on income
- This category displays notable volatility, rising from around 0.65% in early 2020 to a peak near 1.91% in March 2023, followed by a decline and renewed fluctuations in recent quarters. The variations likely mirror changes in taxable income or differing tax rates applied over the periods.
- Other taxes payable
- Other taxes payable remain low, fluctuating between 0.3% and 0.68%, showing minor increases midterm and a modest decrease more recently. Overall, this category reflects a small but stable component of liabilities.
- Current liabilities (aggregate)
- Current liabilities as a whole increased from around 11.93% in March 2020 to a high near 15.17% in June 2022, followed by some decline and fluctuations near 13-15% in the most recent quarters. The trend suggests rising short-term obligations with partial stabilization.
- Long-term debt, excluding current portion
- Long-term debt increased significantly between March and December 2020, peaking at 17.84%, then steadily declined to values around 7.5-9.3% in late 2023 and into 2025. This decline may indicate debt repayment efforts or refinancing strategies reducing long-term leverage over time.
- Deferred credits and other noncurrent obligations
- This category remains stable near 7.5-8.7% without significant upward or downward movement, indicating consistent noncurrent obligations.
- Noncurrent deferred income taxes
- Noncurrent deferred income taxes generally trend upward from about 5.69% early in 2020 to approximately 7.86% by late 2024, indicating increasing deferred tax liabilities possibly due to timing differences in tax recognition.
- Noncurrent employee benefit plans
- These liabilities decrease considerably over the period, dropping from around 3.27% in early 2020 to approximately 1.5% by late 2024, signaling reduced pension or post-retirement obligations on the balance sheet.
- Noncurrent liabilities (aggregate)
- After rising sharply between 2020 and early 2021 to above 35%, this category steadily declines to about 25-27% by 2025, reflecting lower long-term obligations driven primarily by reduced long-term debt and employee benefits.
- Total liabilities
- Total liabilities show a rise from roughly 38.8% in March 2020 to a peak around 44.99% by March 2021, followed by a progressive decline through to approximately 41.3% at mid-2025. This pattern indicates initial increased leverage that gradually diminishes over time.
- Stockholders' equity
- Equity components, including common stock, capital in excess of par, and retained earnings, display general trends of stability or growth. Retained earnings increase strongly from around 74.4% in early 2020 to above 82% by mid-2025, reflecting accumulated profits and a strengthened equity base. Capital in excess of par also grows steadily, while treasury stock shows a rising negative balance indicating increasing share repurchases.
- Treasury stock
- The treasury stock balance shows a clear increasing negative trend from approximately -19.5% in early 2020 to -32.0% by mid-2025, implying substantial share buyback activity and resulting reduction in outstanding equity shares.
- Total equity
- Total equity as a percentage of total liabilities and equity varies inversely with total liabilities, decreasing from about 61.23% in early 2020 to roughly 58.7% by mid-2025. Although equity remains a majority component, the subtle declining trend suggests gradual increases in leverage, despite rising retained earnings.