Ratios (Summary)

Chevron Corp., debt and solvency ratios

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Debt to equity 0.26 0.32 0.25 0.18 0.14
Debt to capital 0.21 0.24 0.20 0.15 0.12
Interest coverage 31.04 -9.75

Source: Based on data from Chevron Corp. Annual Reports

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 deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level.
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 deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level.
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Chevron Corp.'s interest coverage ratio improved from 2015 to 2016 and from 2016 to 2017.

Top


Debt to Equity

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

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Short-term debt, net of unamortized discount and debt issuance costs 5,192  10,840  4,928  3,790  374 
Long-term debt, net of unamortized discount and debt issuance costs 33,477  35,193  33,584  23,960  19,960 
Capital lease obligations 94  93  80  68  97 
Total debt 38,763  46,126  38,592  27,818  20,431 
Total Chevron Corporation stockholders' equity 148,124  145,556  152,716  155,028  149,113 
Ratio
Debt to equity1 0.26 0.32 0.25 0.18 0.14
Benchmarks
Debt to Equity, Competitors
ConocoPhillips 0.64 0.78 0.63 0.43 0.42
EOG Resources Inc. 0.39 0.50 0.51 0.33 0.38
Exxon Mobil Corp. 0.23 0.26 0.23 0.17 0.13
Occidental Petroleum Corp. 0.48 0.46 0.34 0.20 0.16
Phillips 66 0.40 0.45 0.38 0.40 0.28
Debt to Equity, Sector
Oil & Gas Producers 0.30 0.35 0.30 0.22 0.18
Debt to Equity, Industry
Oil & Gas 0.38 0.44 0.40 0.30 0.27

Source: Based on data from Chevron Corp. Annual Reports

2017 Calculations

1 Debt to equity = Total debt ÷ Total Chevron Corporation stockholders' equity
= 38,763 ÷ 148,124 = 0.26

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 deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level.

Top


Debt to Capital

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

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Short-term debt, net of unamortized discount and debt issuance costs 5,192  10,840  4,928  3,790  374 
Long-term debt, net of unamortized discount and debt issuance costs 33,477  35,193  33,584  23,960  19,960 
Capital lease obligations 94  93  80  68  97 
Total debt 38,763  46,126  38,592  27,818  20,431 
Total Chevron Corporation stockholders' equity 148,124  145,556  152,716  155,028  149,113 
Total capital 186,887  191,682  191,308  182,846  169,544 
Ratio
Debt to capital1 0.21 0.24 0.20 0.15 0.12
Benchmarks
Debt to Capital, Competitors
ConocoPhillips 0.39 0.44 0.38 0.30 0.29
EOG Resources Inc. 0.28 0.33 0.34 0.25 0.28
Exxon Mobil Corp. 0.18 0.20 0.18 0.14 0.12
Occidental Petroleum Corp. 0.32 0.31 0.25 0.16 0.14
Phillips 66 0.29 0.31 0.28 0.29 0.22
Debt to Capital, Sector
Oil & Gas Producers 0.23 0.26 0.23 0.18 0.16
Debt to Capital, Industry
Oil & Gas 0.28 0.30 0.29 0.23 0.21

Source: Based on data from Chevron Corp. Annual Reports

2017 Calculations

1 Debt to capital = Total debt ÷ Total capital
= 38,763 ÷ 186,887 = 0.21

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 deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level.

Top


Interest Coverage

Chevron Corp., interest coverage calculation, comparison to benchmarks

 
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Net income (loss) attributable to Chevron Corporation 9,195  (497) 4,587  19,241  21,423 
Add: Net income attributable to noncontrolling interest 74  66  123  69  174 
Add: Income tax expense (48) (1,729) 132  11,892  14,308 
Add: Interest and debt expense 307  201 
Earnings before interest and tax (EBIT) 9,528  (1,959) 4,842  31,202  35,905 
Ratio
Interest coverage1 31.04 -9.75
Benchmarks
Interest Coverage, Competitors
ConocoPhillips -1.38 -3.44 -6.87 15.49 24.60
EOG Resources Inc. 3.41 -4.53 -28.16 25.80 15.60
Exxon Mobil Corp. 32.07 18.59 71.63 181.52 6,413.33
Occidental Petroleum Corp. 4.85 -4.70 -63.46 21.19 83.01
Phillips 66 9.12 7.48 20.50 22.52 21.09
Interest Coverage, Sector
Oil & Gas Producers 11.06 0.73 5.79 71.65 102.41
Interest Coverage, Industry
Oil & Gas 6.27 -0.47 3.49 30.67 39.75

Source: Based on data from Chevron Corp. Annual Reports

2017 Calculations

1 Interest coverage = EBIT ÷ Interest expense
= 9,528 ÷ 307 = 31.04

Ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Chevron Corp.'s interest coverage ratio improved from 2015 to 2016 and from 2016 to 2017.

Top