Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

$24.99

Total Asset Turnover
since 2005

Microsoft Excel

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Calculation

Chevron Corp., total asset turnover, 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


The analysis of the annual financial performance reveals notable trends and fluctuations over the period under review.

Sales and Other Operating Revenues
The sales figures demonstrate considerable volatility. Initially, there is a growth trend from 2005 (US$193.6 billion) reaching a peak in 2008 (US$265.0 billion). However, a sharp decline follows in 2009 down to US$167.4 billion, reflecting possible market disruptions or external pressures. After partial recovery and fluctuations through the early 2010s, revenues peak again in 2012 at US$230.6 billion. From 2013 onwards, sales exhibit a declining tendency, with significant dips notably in 2015 (US$129.9 billion) and 2020 (US$94.5 billion), possibly influenced by macroeconomic conditions. Some rebound is observed in 2021 and 2022, with revenues reaching US$235.7 billion in 2022, before a slight decrease projected for 2023 and 2024.
Total Assets
Total assets steadily increase over the entire period, rising from US$125.8 billion in 2005 to a peak of US$266.0 billion in 2014, after which the asset base stabilizes around the US$250–260 billion range. This growth indicates ongoing capital investment and expansion efforts. Notably, from 2014 onwards, total assets remain relatively stable, reflecting a potential shift from aggressive asset accumulation to maintenance or optimization.
Total Asset Turnover (Efficiency Metric)
Total asset turnover, indicating how efficiently assets generate revenue, starts relatively high at 1.54 in 2005 and maintains this level through 2006, then experiences a gradual decline with some fluctuation. The ratio dips sharply after 2010, reaching lows of 0.39 in 2020, which corresponds with the lowest sales period despite stable asset levels. This suggests reduced operational efficiency or underutilization of asset base during downturns. The ratio recovers partially post-2020, reaching 0.91 in 2022, but remains below earlier levels, signaling that although revenues improved, efficiency has not returned to pre-2010 standards.

Overall, the data depict a company with substantial asset growth but facing volatility in sales and declining operational efficiency over the long term. The sharp fluctuations in revenue alongside a relatively stable asset base result in declining total asset turnover ratios, highlighting challenges in converting investment into sales effectively during certain periods. Recent years show partial recovery in both revenues and asset utilization, although not yet reaching earlier peak efficiencies.


Comparison to Competitors

Chevron Corp., total asset turnover, 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., total asset turnover, 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)