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

Chevron Corp., liquidity ratios (quarterly data)

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Chevron Corp.’s current ratio improved from Q3 2018 to Q4 2018 but then deteriorated significantly from Q4 2018 to Q1 2019.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Chevron Corp.’s quick ratio improved from Q3 2018 to Q4 2018 but then deteriorated significantly from Q4 2018 to Q1 2019.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Chevron Corp.’s cash ratio improved from Q3 2018 to Q4 2018 but then deteriorated significantly from Q4 2018 to Q1 2019.

Chevron Corp., current ratio calculation (quarterly data)

		Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	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
	Selected Financial Data (USD $ in millions)
	Current assets
	Current liabilities
	Ratio
	Current ratio¹

Q1 2019 Calculations

¹ Current ratio = Current assets ÷ Current liabilities
= hidden ÷ hidden = hidden

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Chevron Corp.’s current ratio improved from Q3 2018 to Q4 2018 but then deteriorated significantly from Q4 2018 to Q1 2019.

Chevron Corp., quick ratio calculation (quarterly data)

		Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	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
	Selected Financial Data (USD $ in millions)
	Cash and cash equivalents
	Time deposits
	Marketable securities
	Accounts and notes receivable, net
	Total quick assets
	Current liabilities
	Ratio
	Quick ratio¹

Q1 2019 Calculations

¹ Quick ratio = Total quick assets ÷ Current liabilities
= hidden ÷ hidden = hidden

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 improved from Q3 2018 to Q4 2018 but then deteriorated significantly from Q4 2018 to Q1 2019.

Chevron Corp., cash ratio calculation (quarterly data)

		Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	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
	Selected Financial Data (USD $ in millions)
	Cash and cash equivalents
	Time deposits
	Marketable securities
	Total cash assets
	Current liabilities
	Ratio
	Cash ratio¹

Q1 2019 Calculations

¹ Cash ratio = Total cash assets ÷ Current liabilities
= hidden ÷ hidden = hidden

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 improved from Q3 2018 to Q4 2018 but then deteriorated significantly from Q4 2018 to Q1 2019.

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Discounted Cash Flow (DCF) Valuation
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Chevron Corp. (CVX)

Liquidity Analysis
Quarterly Data