Current Ratio
since 2005
Calculation
Chevron Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1.15 | = | 38,552) | ÷ | 33,387) |
| Dec 31, 2024 | 1.06 | = | 40,911) | ÷ | 38,558) |
| Dec 31, 2023 | 1.27 | = | 41,128) | ÷ | 32,258) |
| Dec 31, 2022 | 1.47 | = | 50,343) | ÷ | 34,208) |
| Dec 31, 2021 | 1.26 | = | 33,738) | ÷ | 26,791) |
| Dec 31, 2020 | 1.18 | = | 26,078) | ÷ | 22,183) |
| Dec 31, 2019 | 1.07 | = | 28,329) | ÷ | 26,530) |
| Dec 31, 2018 | 1.25 | = | 34,021) | ÷ | 27,171) |
| Dec 31, 2017 | 1.03 | = | 28,560) | ÷ | 27,737) |
| Dec 31, 2016 | 0.93 | = | 29,619) | ÷ | 31,785) |
| Dec 31, 2015 | 1.34 | = | 35,347) | ÷ | 26,464) |
| Dec 31, 2014 | 1.32 | = | 42,232) | ÷ | 31,926) |
| Dec 31, 2013 | 1.52 | = | 50,250) | ÷ | 33,018) |
| Dec 31, 2012 | 1.63 | = | 55,720) | ÷ | 34,212) |
| Dec 31, 2011 | 1.58 | = | 53,234) | ÷ | 33,600) |
| Dec 31, 2010 | 1.68 | = | 48,841) | ÷ | 29,012) |
| Dec 31, 2009 | 1.42 | = | 37,216) | ÷ | 26,211) |
| Dec 31, 2008 | 1.14 | = | 36,470) | ÷ | 32,023) |
| Dec 31, 2007 | 1.17 | = | 39,377) | ÷ | 33,798) |
| Dec 31, 2006 | 1.28 | = | 36,304) | ÷ | 28,409) |
| Dec 31, 2005 | 1.37 | = | 34,336) | ÷ | 25,011) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The current ratio for the period examined demonstrates fluctuations over time, generally indicating a moderate level of short-term liquidity. Initial values suggest a reasonably comfortable position, which then experiences a period of decline before recovering and stabilizing, with a recent slight decrease.
- Overall Trend
- From 2005 to 2025, the current ratio exhibits a non-linear pattern. The ratio begins at 1.37, decreases through 2007 to a low of 1.17, then increases significantly to 1.68 in 2010. Following this peak, the ratio generally declines to 0.93 in 2015, representing the lowest point in the observed period. A subsequent recovery is seen, reaching 1.47 in 2022, before decreasing to 1.15 in 2025.
- Periods of Strength
- The years 2010 and 2022 represent periods of relative strength in the current ratio. In 2010, the ratio reached 1.68, indicating a strong ability to cover short-term liabilities with short-term assets. Similarly, the ratio of 1.47 in 2022 suggests a healthy liquidity position.
- Periods of Weakness
- The period between 2011 and 2015 shows a consistent downward trend in the current ratio, culminating in a low of 0.93 in 2015. This indicates a weakening ability to meet short-term obligations. While the ratio recovered after 2015, it did not consistently return to the levels seen earlier in the period.
- Recent Performance
- The most recent years, 2020 through 2025, show increased volatility. The ratio increased from 1.18 in 2020 to 1.47 in 2022, then decreased to 1.15 in 2025. This suggests a potential shift in working capital management or changing short-term financial conditions.
- Magnitude of Change
- The largest single-year increase occurred between 2009 and 2010, with a rise of 0.26. The most substantial single-year decrease was observed between 2014 and 2015, with a drop of 0.41. These significant changes warrant further investigation into the underlying drivers of current asset and current liability fluctuations.
In conclusion, the current ratio demonstrates a dynamic relationship between current assets and current liabilities. While generally above 1.0, indicating sufficient liquidity, the observed fluctuations suggest potential areas for monitoring and analysis regarding short-term financial health.
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Comparison to Competitors
Chevron Corp., current ratio, long-term trends, comparison to competitors
| Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|
| Dec 31, 2025 | 1.15 | 1.30 | 1.15 |
| Dec 31, 2024 | 1.06 | 1.29 | 1.31 |
| Dec 31, 2023 | 1.27 | 1.43 | 1.48 |
| Dec 31, 2022 | 1.47 | 1.46 | 1.41 |
| Dec 31, 2021 | 1.26 | 1.34 | 1.04 |
| Dec 31, 2020 | 1.18 | 2.25 | 0.80 |
| Dec 31, 2019 | 1.07 | 2.40 | 0.78 |
| Dec 31, 2018 | 1.25 | 1.79 | 0.84 |
| Dec 31, 2017 | 1.03 | 1.76 | 0.82 |
| Dec 31, 2016 | 0.93 | 1.25 | 0.87 |
| Dec 31, 2015 | 1.34 | 0.95 | 0.79 |
| Dec 31, 2014 | 1.32 | 1.31 | 0.82 |
| Dec 31, 2013 | 1.52 | 1.26 | 0.83 |
| Dec 31, 2012 | 1.63 | 1.38 | 1.01 |
| Dec 31, 2011 | 1.58 | 1.08 | 0.94 |
| Dec 31, 2010 | 1.68 | 1.26 | 0.94 |
| Dec 31, 2009 | 1.42 | 0.89 | 1.06 |
| Dec 31, 2008 | 1.14 | 0.96 | 1.47 |
| Dec 31, 2007 | 1.17 | 0.92 | 1.47 |
| Dec 31, 2006 | 1.28 | 0.95 | 1.55 |
| Dec 31, 2005 | 1.37 | 0.92 | 1.58 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Chevron Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Chevron Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2025 | 1.15 | 1.17 |
| Dec 31, 2024 | 1.06 | 1.23 |
| Dec 31, 2023 | 1.27 | 1.41 |
| Dec 31, 2022 | 1.47 | 1.44 |
| Dec 31, 2021 | 1.26 | 1.14 |
| Dec 31, 2020 | 1.18 | 0.99 |
| Dec 31, 2019 | 1.07 | 0.98 |
| Dec 31, 2018 | 1.25 | 1.04 |
| Dec 31, 2017 | 1.03 | 0.97 |
| Dec 31, 2016 | 0.93 | 0.92 |
| Dec 31, 2015 | 1.34 | 0.97 |
| Dec 31, 2014 | 1.32 | 1.02 |
| Dec 31, 2013 | 1.52 | 1.07 |
| Dec 31, 2012 | 1.63 | 1.25 |
| Dec 31, 2011 | 1.58 | 1.12 |
| Dec 31, 2010 | 1.68 | 1.20 |
| Dec 31, 2009 | 1.42 | 1.11 |
| Dec 31, 2008 | 1.14 | 1.26 |
| Dec 31, 2007 | 1.17 | 1.26 |
| Dec 31, 2006 | 1.28 | 1.32 |
| Dec 31, 2005 | 1.37 | 1.37 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Chevron Corp., current ratio, long-term trends, comparison to industry (energy)
| Chevron Corp. | Energy | |
|---|---|---|
| Dec 31, 2025 | 1.15 | 1.19 |
| Dec 31, 2024 | 1.06 | 1.25 |
| Dec 31, 2023 | 1.27 | 1.40 |
| Dec 31, 2022 | 1.47 | 1.42 |
| Dec 31, 2021 | 1.26 | 1.15 |
| Dec 31, 2020 | 1.18 | 1.02 |
| Dec 31, 2019 | 1.07 | 1.00 |
| Dec 31, 2018 | 1.25 | 1.06 |
| Dec 31, 2017 | 1.03 | 1.00 |
| Dec 31, 2016 | 0.93 | 1.02 |
| Dec 31, 2015 | 1.34 | 1.09 |
| Dec 31, 2014 | 1.32 | 1.10 |
| Dec 31, 2013 | 1.52 | 1.16 |
| Dec 31, 2012 | 1.63 | 1.31 |
| Dec 31, 2011 | 1.58 | 1.18 |
| Dec 31, 2010 | 1.68 | 1.24 |
| Dec 31, 2009 | 1.42 | 1.17 |
| Dec 31, 2008 | 1.14 | 1.28 |
| Dec 31, 2007 | 1.17 | 1.27 |
| Dec 31, 2006 | 1.28 | 1.33 |
| Dec 31, 2005 | 1.37 | 1.38 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).