Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Chevron Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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Chevron Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
The asset structure reflects a period of relative stability followed by a substantial expansion in the balance sheet's scale during the latter portion of the analyzed timeframe. Total assets remained within a range of 239 billion to 263 billion dollars from March 2021 through mid-2025, before increasing sharply to 329.5 billion dollars by March 2026.
- Liquidity and Working Capital Trends
- Cash and cash equivalents experienced significant volatility, peaking at 17.6 billion dollars in December 2022 before entering a downward trend that bottomed near 4 billion dollars in mid-2025. Current assets followed a similar trajectory, reaching a peak of 51.5 billion dollars in September 2022 and subsequently stabilizing around 38 to 40 billion dollars, with a final increase to 46.1 billion dollars by March 2026. Accounts and notes receivable showed a general upward trajectory, rising from 14.1 billion dollars in early 2021 to a peak of 25.2 billion dollars by the end of the period.
- Inventory and Short-Term Asset Management
- Inventories demonstrated a consistent growth pattern, nearly doubling from 5.6 billion dollars in March 2021 to a peak of 10.4 billion dollars in September 2025. Within the inventory breakdown, crude oil and products remained the primary driver, increasing from 3.5 billion dollars to over 7.4 billion dollars. Prepaid expenses and other current assets remained relatively stable, though a notable increase to 5.2 billion dollars was observed in March 2023.
- Fixed Asset Expansion and Long-Term Investment
- A transformative increase in properties, plant, and equipment (PP&E) occurred in the final quarters of the data set. Net PP&E remained largely stagnant between 142 billion and 154 billion dollars for several years but surged to 219.4 billion dollars in September 2025. This growth is mirrored in the gross cost of PP&E, which rose from approximately 345 billion dollars to 438.9 billion dollars by March 2026. This shift suggests a major capital investment or a large-scale acquisition. Simultaneously, investments and advances peaked at 49.1 billion dollars in March 2023 before moderately declining to 43.2 billion dollars by March 2026.
- Noncurrent Asset Composition
- Noncurrent assets increased from 211.2 billion dollars in March 2021 to 283.3 billion dollars in March 2026. While deferred charges and goodwill remained relatively consistent, the overall growth in this category was driven almost exclusively by the expansion of the net PP&E base. Assets held for sale remained nominal for most of the period, with a temporary spike to 5.9 billion dollars in September 2024 before returning to negligible levels.