Stock Analysis on Net
Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Paying user area

Try for free

Chevron Corp. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check

Chevron Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Short-term debt
Accounts payable
Accrued liabilities
Federal and other taxes on income
Other taxes payable
Current liabilities
Long-term debt, excluding debt due within one year
Deferred credits and other noncurrent obligations
Noncurrent deferred income taxes
Noncurrent employee benefit plans
Noncurrent liabilities
Total liabilities
Redeemable noncontrolling interest
Preferred stock, $1.00 par value; none issued
Common stock, $0.75 par value
Capital in excess of par value
Retained earnings
Accumulated other comprehensive losses
Deferred compensation and benefit plan trust
Treasury stock, at cost
Total Chevron Corporation stockholders’ equity
Noncontrolling interests, excludes redeemable noncontrolling interest
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2026-06-30), 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).

An analysis of the balance sheet reveals a significant shift in the capital structure and liability profile between 2021 and 2026. Total liabilities remained relatively stable or trended slightly downward from March 2021 through late 2024, oscillating between 92 billion and 108 billion US dollars. However, a substantial increase is observed starting in late 2024, with total liabilities rising to a peak of 140.2 billion US dollars by March 2026.

Debt Obligations and Liquidity
Long-term debt exhibited a period of aggressive reduction, falling from 40.6 billion US dollars in March 2021 to a low of 20.1 billion US dollars by September 2023. This trend reversed sharply in late 2024 and 2025, with long-term debt increasing to nearly 40 billion US dollars. Short-term debt remains highly volatile, characterized by frequent fluctuations; notably, it peaked at 6.2 billion US dollars in June 2025 before dropping and rising again to 5.8 billion US dollars in March 2026.
Equity and Capital Allocation
Total equity demonstrated consistent growth from 132.8 billion US dollars in March 2021 to approximately 160 billion US dollars by 2023. A marked escalation occurred in late 2024, with total equity jumping to over 195 billion US dollars. This was supported by a steady upward trajectory in retained earnings, which grew from 159.3 billion US dollars to 212.6 billion US dollars over the period. Conversely, treasury stock showed a trend of increasing share repurchases, reaching a peak cost of 80.3 billion US dollars in June 2025, followed by a significant reduction to 56.2 billion US dollars by June 2026.
Noncurrent Liabilities and Deferred Obligations
Noncurrent deferred income taxes remained stable for several years before experiencing a sharp increase in late 2024, rising from approximately 19 billion US dollars to over 30 billion US dollars. Similarly, noncontrolling interests remained negligible under 1 billion US dollars until late 2024, at which point they surged to approximately 5.7 billion US dollars, suggesting a significant change in ownership structure or a major acquisition.
Current Liabilities Trends
Current liabilities have generally trended upward, moving from 27.5 billion US dollars in March 2021 to 39.2 billion US dollars by June 2026. This growth is primarily driven by accounts payable, which climbed from 12.9 billion US dollars to a peak of 24.4 billion US dollars, reflecting an increase in short-term operational obligations.

Overall, the financial position is characterized by a strategic deleveraging phase between 2021 and 2023, followed by a period of significant expansion in both liabilities and equity starting in late 2024. The simultaneous rise in long-term debt and total equity suggests a period of increased capital investment or corporate restructuring.