Microsoft Excel LibreOffice Calc

Chevron Corp. (NYSE:CVX)

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Analysis of Solvency Ratios

Beginner level


Solvency Ratios (Summary)

Chevron Corp., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Chevron Corp.’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Chevron Corp.’s debt to equity ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Chevron Corp.’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Chevron Corp.’s debt to capital ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Chevron Corp.’s debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Chevron Corp.’s debt to assets ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Chevron Corp.’s financial leverage ratio decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Chevron Corp.’s interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Chevron Corp.’s fixed charge coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Debt to Equity

Chevron Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt
Long-term debt, excluding debt due within one year
Total debt
 
Total Chevron Corporation stockholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
ConocoPhillips
Exxon Mobil Corp.
Debt to Equity, Sector
Oil & Gas Producers
Debt to Equity, Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Debt to equity = Total debt ÷ Total Chevron Corporation stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Chevron Corp.’s debt to equity ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Equity (including Operating Lease Liability)

Chevron Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt
Long-term debt, excluding debt due within one year
Total debt
Current lease liabilities for operating leases (included in Accrued liabilities)
Noncurrent lease liabilities for operating leases (included in Deferred credits and other noncurrent obligations)
Total debt (including operating lease liability)
 
Total Chevron Corporation stockholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
ConocoPhillips
Exxon Mobil Corp.
Debt to Equity (including Operating Lease Liability), Sector
Oil & Gas Producers
Debt to Equity (including Operating Lease Liability), Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Chevron Corporation stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Chevron Corp.’s debt to equity ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.

Debt to Capital

Chevron Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt
Long-term debt, excluding debt due within one year
Total debt
Total Chevron Corporation stockholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
ConocoPhillips
Exxon Mobil Corp.
Debt to Capital, Sector
Oil & Gas Producers
Debt to Capital, Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Chevron Corp.’s debt to capital ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Capital (including Operating Lease Liability)

Chevron Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt
Long-term debt, excluding debt due within one year
Total debt
Current lease liabilities for operating leases (included in Accrued liabilities)
Noncurrent lease liabilities for operating leases (included in Deferred credits and other noncurrent obligations)
Total debt (including operating lease liability)
Total Chevron Corporation stockholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
ConocoPhillips
Exxon Mobil Corp.
Debt to Capital (including Operating Lease Liability), Sector
Oil & Gas Producers
Debt to Capital (including Operating Lease Liability), Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Chevron Corp.’s debt to capital ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.

Debt to Assets

Chevron Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt
Long-term debt, excluding debt due within one year
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
ConocoPhillips
Exxon Mobil Corp.
Debt to Assets, Sector
Oil & Gas Producers
Debt to Assets, Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Chevron Corp.’s debt to assets ratio improved from 2017 to 2018 and from 2018 to 2019.

Debt to Assets (including Operating Lease Liability)

Chevron Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt
Long-term debt, excluding debt due within one year
Total debt
Current lease liabilities for operating leases (included in Accrued liabilities)
Noncurrent lease liabilities for operating leases (included in Deferred credits and other noncurrent obligations)
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
ConocoPhillips
Exxon Mobil Corp.
Debt to Assets (including Operating Lease Liability), Sector
Oil & Gas Producers
Debt to Assets (including Operating Lease Liability), Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Chevron Corp.’s debt to assets ratio (including operating lease liability) improved from 2017 to 2018 and from 2018 to 2019.

Financial Leverage

Chevron Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Total assets
Total Chevron Corporation stockholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
ConocoPhillips
Exxon Mobil Corp.
Financial Leverage, Sector
Oil & Gas Producers
Financial Leverage, Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Financial leverage = Total assets ÷ Total Chevron Corporation stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Chevron Corp.’s financial leverage ratio decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

Interest Coverage

Chevron Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Chevron Corporation
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest and debt expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
ConocoPhillips
Exxon Mobil Corp.
Interest Coverage, Sector
Oil & Gas Producers
Interest Coverage, Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Chevron Corp.’s interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Fixed Charge Coverage

Chevron Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Chevron Corporation
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest and debt expense
Earnings before interest and tax (EBIT)
Add: Operating lease costs
Earnings before fixed charges and tax
 
Interest and debt expense
Operating lease costs
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
ConocoPhillips
Exxon Mobil Corp.
Fixed Charge Coverage, Sector
Oil & Gas Producers
Fixed Charge Coverage, Industry
Oil & Gas

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

1 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Chevron Corp.’s fixed charge coverage ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.