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

Chevron Corp., liquidity ratios (quarterly data)

	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
Current ratio	1.25	1.22	1.08	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
Quick ratio	0.93	0.91	0.76	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
Cash ratio	0.38	0.33	0.24	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

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Chevron Corp.’s current ratio improved from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.
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 Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Chevron Corp.’s cash ratio improved from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.

Chevron Corp., current ratio calculation (quarterly data)

	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	34,021	35,583	34,256	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
Current liabilities	27,171	29,183	31,862	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
Ratio
Current ratio¹	1.25	1.22	1.08	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

Q4 2018 Calculations

¹ Current ratio = Current assets ÷ Current liabilities
= 34,021 ÷ 27,171 = 1.25

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Chevron Corp.’s current ratio improved from Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.

Chevron Corp., quick ratio calculation (quarterly data)

	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	9,342	9,686	7,628	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
Time deposits	950	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	8	8	8	308
Marketable securities	53	60	58	38	9	13	13	11	13	321	320	317	310	306	365	432	422	267	268	263
Accounts and notes receivable, net	15,050	16,788	16,672	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
Total quick assets	25,395	26,534	24,358	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
Current liabilities	27,171	29,183	31,862	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
Ratio
Quick ratio¹	0.93	0.91	0.76	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

Q4 2018 Calculations

¹ Quick ratio = Total quick assets ÷ Current liabilities
= 25,395 ÷ 27,171 = 0.93

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 Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.

Chevron Corp., cash ratio calculation (quarterly data)

	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	9,342	9,686	7,628	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
Time deposits	950	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	8	8	8	308
Marketable securities	53	60	58	38	9	13	13	11	13	321	320	317	310	306	365	432	422	267	268	263
Total cash assets	10,345	9,746	7,686	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
Current liabilities	27,171	29,183	31,862	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
Ratio
Cash ratio¹	0.38	0.33	0.24	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

Q4 2018 Calculations

¹ Cash ratio = Total cash assets ÷ Current liabilities
= 10,345 ÷ 27,171 = 0.38

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 Q2 2018 to Q3 2018 and from Q3 2018 to Q4 2018.

Chevron Corp. (CVX)

Liquidity Analysis
Quarterly Data