Chevron Corp. (CVX)

Liquidity Analysis Quarterly Data

Difficulty: Beginner

Liquidity ratios measure the company's ability to meet its short-term obligations.

Chevron Corp., liquidity ratios (quarterly data)

	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013
Current ratio	1.04	1.03	1.04	0.95	1.04	0.93	1.17	1.30	1.09	1.34	1.32	1.44	1.40	1.32	1.27	1.35	1.40	1.52	1.60	1.68	1.58
Quick ratio	0.73	0.73	0.74	0.64	0.73	0.66	0.82	0.91	0.73	0.91	0.91	1.01	0.96	0.94	0.93	0.99	1.02	1.16	1.20	1.27	1.18
Cash ratio	0.21	0.17	0.24	0.17	0.25	0.22	0.31	0.36	0.30	0.43	0.44	0.44	0.45	0.41	0.39	0.39	0.45	0.50	0.56	0.67	0.55

Source: Based on data from Chevron Corp. Quarterly and Annual Reports

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Chevron Corp.'s current ratio deteriorated from Q3 2017 to Q4 2017 but then improved from Q4 2017 to Q1 2018 not reaching Q3 2017 level.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Chevron Corp.'s quick ratio deteriorated from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Chevron Corp.'s cash ratio deteriorated from Q3 2017 to Q4 2017 but then improved from Q4 2017 to Q1 2018 not reaching Q3 2017 level.

Chevron Corp., current ratio calculation (quarterly data)

	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013
Selected Financial Data (USD $ in millions)
Current assets	31,726	28,560	29,398	26,626	29,568	29,619	28,873	32,471	31,713	35,347	39,819	40,738	41,270	42,232	47,083	48,920	49,749	50,250	53,503	56,104	54,696
Current liabilities	30,630	27,737	28,223	27,956	28,426	31,785	24,744	24,927	29,162	26,464	30,144	28,268	29,445	31,926	37,088	36,328	35,652	33,018	33,470	33,413	34,685
Ratio
Current ratio¹	1.04	1.03	1.04	0.95	1.04	0.93	1.17	1.30	1.09	1.34	1.32	1.44	1.40	1.32	1.27	1.35	1.40	1.52	1.60	1.68	1.58

Source: Based on data from Chevron Corp. Quarterly and Annual Reports

Q1 2018 Calculations

¹ Current ratio = Current assets ÷ Current liabilities
= 31,726 ÷ 30,630 = 1.04

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Chevron Corp.'s current ratio deteriorated from Q3 2017 to Q4 2017 but then improved from Q4 2017 to Q1 2018 not reaching Q3 2017 level.

Chevron Corp., quick ratio calculation (quarterly data)

	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013
Selected Financial Data (USD $ in millions)
Cash and cash equivalents	6,466	4,813	6,641	4,762	6,983	6,988	7,351	8,764	8,562	11,022	12,933	12,156	12,675	12,785	14,215	13,959	15,612	16,245	17,014	20,630	17,374
Time deposits	–	–	–	–	–	–	–	–	–	–	–	–	–	8	8	8	308	8	1,308	1,408	1,408
Marketable securities	38	9	13	13	11	13	321	320	317	310	306	365	432	422	267	268	263	263	258	258	266
Accounts and notes receivable, net	15,771	15,353	14,124	13,168	13,754	14,092	12,522	13,490	12,459	12,860	14,240	16,153	15,239	16,736	19,974	21,578	20,285	21,622	21,641	20,273	21,969
Total quick assets	22,275	20,175	20,778	17,943	20,748	21,093	20,194	22,574	21,338	24,192	27,479	28,674	28,346	29,951	34,464	35,813	36,468	38,138	40,221	42,569	41,017
Current liabilities	30,630	27,737	28,223	27,956	28,426	31,785	24,744	24,927	29,162	26,464	30,144	28,268	29,445	31,926	37,088	36,328	35,652	33,018	33,470	33,413	34,685
Ratio
Quick ratio¹	0.73	0.73	0.74	0.64	0.73	0.66	0.82	0.91	0.73	0.91	0.91	1.01	0.96	0.94	0.93	0.99	1.02	1.16	1.20	1.27	1.18

Source: Based on data from Chevron Corp. Quarterly and Annual Reports

Q1 2018 Calculations

¹ Quick ratio = Total quick assets ÷ Current liabilities
= 22,275 ÷ 30,630 = 0.73

Ratio	Description	The company
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Chevron Corp.'s quick ratio deteriorated from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.

Chevron Corp., cash ratio calculation (quarterly data)

	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013
Selected Financial Data (USD $ in millions)
Cash and cash equivalents	6,466	4,813	6,641	4,762	6,983	6,988	7,351	8,764	8,562	11,022	12,933	12,156	12,675	12,785	14,215	13,959	15,612	16,245	17,014	20,630	17,374
Time deposits	–	–	–	–	–	–	–	–	–	–	–	–	–	8	8	8	308	8	1,308	1,408	1,408
Marketable securities	38	9	13	13	11	13	321	320	317	310	306	365	432	422	267	268	263	263	258	258	266
Total cash assets	6,504	4,822	6,654	4,775	6,994	7,001	7,672	9,084	8,879	11,332	13,239	12,521	13,107	13,215	14,490	14,235	16,183	16,516	18,580	22,296	19,048
Current liabilities	30,630	27,737	28,223	27,956	28,426	31,785	24,744	24,927	29,162	26,464	30,144	28,268	29,445	31,926	37,088	36,328	35,652	33,018	33,470	33,413	34,685
Ratio
Cash ratio¹	0.21	0.17	0.24	0.17	0.25	0.22	0.31	0.36	0.30	0.43	0.44	0.44	0.45	0.41	0.39	0.39	0.45	0.50	0.56	0.67	0.55

Source: Based on data from Chevron Corp. Quarterly and Annual Reports

Q1 2018 Calculations

¹ Cash ratio = Total cash assets ÷ Current liabilities
= 6,504 ÷ 30,630 = 0.21

Ratio	Description	The company
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Chevron Corp.'s cash ratio deteriorated from Q3 2017 to Q4 2017 but then improved from Q4 2017 to Q1 2018 not reaching Q3 2017 level.