Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

$24.99

Debt to Equity
since 2005

Microsoft Excel

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Calculation

Chevron Corp., debt to equity, long-term trends, calculation

Microsoft Excel

Based on: 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


Total debt and capital lease obligations

The total debt and capital lease obligations experienced notable fluctuations over the period analyzed. From 2005 to 2007, there was a consistent decline from 12,870 million USD to 7,232 million USD, representing a significant reduction in debt levels. However, starting in 2008, the debt began to rise again, reaching a peak of 46,126 million USD in 2016. Following this peak, there was a gradual decline to 20,836 million USD by 2023, before a slight increase to 24,541 million USD in 2024. This pattern indicates phases of debt reduction followed by periods of increased borrowing, possibly linked to strategic investments or market conditions.

Total Chevron Corporation stockholders’ equity

Stockholders’ equity showed a steady upward trend throughout the period, increasing from 62,676 million USD in 2005 to a peak of 160,957 million USD in 2023. There was a minor dip in 2024 to 152,318 million USD. The continuous increase in equity suggests sustained profitability and reinvestment, improving the company's net asset base over time. The slight decrease at the end of the period may reflect adjustments in retained earnings or market valuation impacts.

Debt to equity ratio

The debt-to-equity ratio started at 0.21 in 2005 and decreased noticeably to 0.08 by 2011, indicating a reduction in leverage relative to equity. After 2011, the ratio increased again, reaching 0.34 in 2016, corresponding with the peak in total debt levels during that year. Subsequently, the ratio declined steadily to 0.13 in 2023 before a slight rise to 0.16 in 2024. Overall, the company's leverage has remained relatively moderate, with fluctuations reflective of changing debt levels and equity growth over time.


Comparison to Competitors

Chevron Corp., debt to equity, long-term trends, comparison to competitors

Microsoft Excel

Based on: 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., debt to equity, long-term trends, comparison to sector (oil, gas & consumable fuels)

Microsoft Excel

Based on: 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)