Adjustments to Financial Statements: Removal of Goodwill
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Chevron Corp., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Financial ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Chevron Corp. adjusted total asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Chevron Corp. adjusted financial leverage ratio increased from 2022 to 2023 and from 2023 to 2024. |
Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Chevron Corp. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024. |
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Chevron Corp. adjusted ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
Chevron Corp., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 Total asset turnover = Sales and other operating revenues ÷ Total assets
= 193,414 ÷ 256,938 = 0.75
2 Adjusted total asset turnover = Sales and other operating revenues ÷ Adjusted total assets
= 193,414 ÷ 252,360 = 0.77
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Chevron Corp. adjusted total asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 Financial leverage = Total assets ÷ Total Chevron Corporation stockholders’ equity
= 256,938 ÷ 152,318 = 1.69
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Chevron Corporation stockholders’ equity
= 252,360 ÷ 147,740 = 1.71
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Chevron Corp. adjusted financial leverage ratio increased from 2022 to 2023 and from 2023 to 2024. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 ROE = 100 × Net income (loss) attributable to Chevron Corporation ÷ Total Chevron Corporation stockholders’ equity
= 100 × 17,661 ÷ 152,318 = 11.59%
2 Adjusted ROE = 100 × Net income (loss) attributable to Chevron Corporation ÷ Adjusted total Chevron Corporation stockholders’ equity
= 100 × 17,661 ÷ 147,740 = 11.95%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Chevron Corp. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 ROA = 100 × Net income (loss) attributable to Chevron Corporation ÷ Total assets
= 100 × 17,661 ÷ 256,938 = 6.87%
2 Adjusted ROA = 100 × Net income (loss) attributable to Chevron Corporation ÷ Adjusted total assets
= 100 × 17,661 ÷ 252,360 = 7.00%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Chevron Corp. adjusted ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |