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## Adjusted Ratios

Difficulty: Advanced

### Adjusted Ratios (Summary)

**Chevron Corp., adjusted ratios**

Ratio | Description | The company |
---|---|---|

Adjusted total asset turnover |
An activity ratio calculated as total revenue divided by adjusted total assets. | Chevron Corp.'s adjusted total asset turnover deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |

Adjusted current ratio |
A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Chevron Corp.'s adjusted current ratio deteriorated from 2015 to 2016 but then slightly improved from 2016 to 2017. |

Adjusted debt-to-equity ratio |
A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | Chevron Corp.'s adjusted debt-to-equity ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level. |

Adjusted debt-to-capital ratio |
A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. | Chevron Corp.'s adjusted debt-to-capital ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level. |

Adjusted financial leverage |
A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Chevron Corp.'s adjusted financial leverage increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level. |

Adjusted net profit margin |
An indicator of profitability, calculated as adjusted comprehensive income divided by total revenue. | Chevron Corp.'s adjusted net profit margin deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |

Adjusted ROE |
A profitability ratio calculated as adjusted comprehensive income divided by adjusted total equity. | Chevron Corp.'s adjusted ROE deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |

Adjusted ROA |
A profitability ratio calculated as adjusted comprehensive income divided by adjusted total assets. | Chevron Corp.'s adjusted ROA deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |

### Adjusted Total Asset Turnover

*2017 Calculations*

^{1} Total asset turnover = Sales and other operating revenues ÷ Total assets

= ÷ =

^{2} Adjusted total assets. See Details »

^{3} Adjusted total asset turnover = Sales and other operating revenues ÷ Adjusted total assets

= ÷ =

Ratio | Description | The company |
---|---|---|

Adjusted total asset turnover |
An activity ratio calculated as total revenue divided by adjusted total assets. | Chevron Corp.'s adjusted total asset turnover deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |

### Adjusted Current Ratio

*2017 Calculations*

^{1} Current ratio = Current assets ÷ Current liabilities

= ÷ =

^{2} Adjusted current assets. See Details »

^{3} Adjusted current liabilities. See Details »

^{4} Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities

= ÷ =

Ratio | Description | The company |
---|---|---|

Adjusted current ratio |
A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Chevron Corp.'s adjusted current ratio deteriorated from 2015 to 2016 but then slightly improved from 2016 to 2017. |

### Adjusted Debt to Equity

*2017 Calculations*

^{1} Debt to equity = Total debt ÷ Total Chevron Corporation stockholders' equity

= ÷ =

^{2} Adjusted total debt. See Details »

^{3} Adjusted total equity. See Details »

^{4} Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity

= ÷ =

Ratio | Description | The company |
---|---|---|

Adjusted debt-to-equity ratio |
A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | Chevron Corp.'s adjusted debt-to-equity ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level. |

### Adjusted Debt to Capital

*2017 Calculations*

^{1} Debt to capital = Total debt ÷ Total capital

= ÷ =

^{2} Adjusted total debt. See Details »

^{3} Adjusted total capital. See Details »

^{4} Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital

= ÷ =

Ratio | Description | The company |
---|---|---|

Adjusted debt-to-capital ratio |
A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. | Chevron Corp.'s adjusted debt-to-capital ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level. |

### Adjusted Financial Leverage

*2017 Calculations*

^{1} Financial leverage = Total assets ÷ Total Chevron Corporation stockholders' equity

= ÷ =

^{2} Adjusted total assets. See Details »

^{3} Adjusted total equity. See Details »

^{4} Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity

= ÷ =

Ratio | Description | The company |
---|---|---|

Adjusted financial leverage |
A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Chevron Corp.'s adjusted financial leverage increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level. |

### Adjusted Net Profit Margin

*2017 Calculations*

^{1} Net profit margin = 100 × Net income (loss) attributable to Chevron Corporation ÷ Sales and other operating revenues

= 100 × ÷ = %

^{2} Adjusted comprehensive income. See Details »

^{3} Adjusted net profit margin = 100 × Adjusted comprehensive income ÷ Sales and other operating revenues

= 100 × ÷ = %

Ratio | Description | The company |
---|---|---|

Adjusted net profit margin |
An indicator of profitability, calculated as adjusted comprehensive income divided by total revenue. | Chevron Corp.'s adjusted net profit margin deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |

### Adjusted Return on Equity (ROE)

*2017 Calculations*

^{1} ROE = 100 × Net income (loss) attributable to Chevron Corporation ÷ Total Chevron Corporation stockholders' equity

= 100 × ÷ = %

^{2} Adjusted comprehensive income. See Details »

^{3} Adjusted total equity. See Details »

^{4} Adjusted ROE = 100 × Adjusted comprehensive income ÷ Adjusted total equity

= 100 × ÷ = %

Ratio | Description | The company |
---|---|---|

Adjusted ROE |
A profitability ratio calculated as adjusted comprehensive income divided by adjusted total equity. | Chevron Corp.'s adjusted ROE deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |

### Adjusted Return on Assets (ROA)

*2017 Calculations*

^{1} ROA = 100 × Net income (loss) attributable to Chevron Corporation ÷ Total assets

= 100 × ÷ = %

^{2} Adjusted comprehensive income. See Details »

^{3} Adjusted total assets. See Details »

^{4} Adjusted ROA = 100 × Adjusted comprehensive income ÷ Adjusted total assets

= 100 × ÷ = %

Ratio | Description | The company |
---|---|---|

Adjusted ROA |
A profitability ratio calculated as adjusted comprehensive income divided by adjusted total assets. | Chevron Corp.'s adjusted ROA deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level. |