Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

$24.99

Return on Assets (ROA)
since 2005

Microsoft Excel

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Calculation

Chevron Corp., ROA, 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


Net Income (Loss) Trend
The net income exhibited considerable volatility throughout the period. Starting at 14,099 million US dollars in 2005, it peaked at 26,895 million by 2011. Subsequently, there was a notable decline and sharp losses around 2015 and 2016, with a negative figure of -497 million in 2016. This was followed by a recovery phase, reaching a peak of 35,465 million in 2022. However, the income slightly decreased in the last two reported years, ending at 17,661 million in 2024. The fluctuations highlight sensitivity to external factors impacting profitability, with periods of both strong earnings and losses.
Total Assets Evolution
Total assets generally trended upward over the analyzed years. From 125,833 million US dollars in 2005, they grew steadily, reaching a maximum of 266,103 million in 2015. After that, the total assets experienced a mild decline and stabilization phase, fluctuating around 253,000 to 261,000 million through 2024. This suggests continued investment and asset accumulation with some asset base consolidation or revaluation in the later years.
Return on Assets (ROA) Pattern
Return on Assets showed a fluctuating trend, indicating variability in the efficiency of asset utilization to generate net income. Starting at a robust 11.2% in 2005, ROA peaked at 14.85% in 2008 before declining sharply to 1.72% in 2014 and dipping into negative territory (-0.19%) in 2016, coinciding with the net income loss period. A recovery followed reaching 13.76% in 2022, correlating with high net income, then declining to around 6.87% by 2024. The ROA fluctuations align closely with earnings volatility despite a relatively stable asset base.
Overall Insights
The data reveals a cyclical performance pattern, reflective of an industry sensitive to external market and economic conditions. While total asset growth has been relatively steady, profitability and asset efficiency have experienced considerable swings. Periods of losses in the mid-2010s notably impacted financial returns, but subsequent recovery phases have demonstrated resilience and an ability to rebound. The recent moderate decline in net income and ROA may warrant attention to maintain performance stability going forward.

Comparison to Competitors


Comparison to Sector (Oil, Gas & Consumable Fuels)


Comparison to Industry (Energy)