Analysis of Geographic Areas
Chevron Corp. operates in 2 regions: United States and International.
Area Profit Margin
Chevron Corp., profit margin by geographic area
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 6.48% | 12.58% | 11.17% | -4.55% | -4.44% |
| International | 12.74% | 14.19% | 9.11% | -0.31% | 9.21% |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | United States | United States area profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| International | International area profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area Profit Margin: United States
Chevron Corp.; United States; area profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment earnings | 8,052) | 18,015) | 9,708) | (2,179) | (3,535) |
| Segment sales and other operating revenues | 124,277) | 143,161) | 86,934) | 47,910) | 79,693) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 6.48% | 12.58% | 11.17% | -4.55% | -4.44% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area profit margin = 100 × Segment earnings ÷ Segment sales and other operating revenues
= 100 × 8,052 ÷ 124,277 = 6.48%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | United States | United States area profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area Profit Margin: International
Chevron Corp.; International; area profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment earnings | 15,523) | 20,424) | 9,024) | (207) | 8,592) |
| Segment sales and other operating revenues | 121,865) | 143,900) | 99,021) | 65,755) | 93,302) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 12.74% | 14.19% | 9.11% | -0.31% | 9.21% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area profit margin = 100 × Segment earnings ÷ Segment sales and other operating revenues
= 100 × 15,523 ÷ 121,865 = 12.74%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | International | International area profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area Return on Assets (Area ROA)
Chevron Corp., ROA by geographic area
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 7.89% | 19.21% | 13.12% | -3.12% | -5.47% |
| International | 10.03% | 12.83% | 5.60% | -0.13% | 5.10% |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | United States | United States area ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| International | International area ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area ROA: United States
Chevron Corp.; United States; area ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment earnings | 8,052) | 18,015) | 9,708) | (2,179) | (3,535) |
| Assets | 102,108) | 93,783) | 73,992) | 69,938) | 64,598) |
| Area Profitability Ratio | |||||
| Area ROA1 | 7.89% | 19.21% | 13.12% | -3.12% | -5.47% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area ROA = 100 × Segment earnings ÷ Assets
= 100 × 8,052 ÷ 102,108 = 7.89%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | United States | United States area ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area ROA: International
Chevron Corp.; International; area ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment earnings | 15,523) | 20,424) | 9,024) | (207) | 8,592) |
| Assets | 154,802) | 159,204) | 161,158) | 165,450) | 168,367) |
| Area Profitability Ratio | |||||
| Area ROA1 | 10.03% | 12.83% | 5.60% | -0.13% | 5.10% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area ROA = 100 × Segment earnings ÷ Assets
= 100 × 15,523 ÷ 154,802 = 10.03%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | International | International area ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area Asset Turnover
Chevron Corp., asset turnover by geographic area
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 1.22 | 1.53 | 1.17 | 0.69 | 1.23 |
| International | 0.79 | 0.90 | 0.61 | 0.40 | 0.55 |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | United States | United States area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| International | International area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area Asset Turnover: United States
Chevron Corp.; United States; area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment sales and other operating revenues | 124,277) | 143,161) | 86,934) | 47,910) | 79,693) |
| Assets | 102,108) | 93,783) | 73,992) | 69,938) | 64,598) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.22 | 1.53 | 1.17 | 0.69 | 1.23 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area asset turnover = Segment sales and other operating revenues ÷ Assets
= 124,277 ÷ 102,108 = 1.22
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | United States | United States area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Area Asset Turnover: International
Chevron Corp.; International; area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment sales and other operating revenues | 121,865) | 143,900) | 99,021) | 65,755) | 93,302) |
| Assets | 154,802) | 159,204) | 161,158) | 165,450) | 168,367) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.79 | 0.90 | 0.61 | 0.40 | 0.55 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area asset turnover = Segment sales and other operating revenues ÷ Assets
= 121,865 ÷ 154,802 = 0.79
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | International | International area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment earnings
Chevron Corp., segment earnings by geographic area
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 8,052) | 18,015) | 9,708) | (2,179) | (3,535) |
| International | 15,523) | 20,424) | 9,024) | (207) | 8,592) |
| Total | 23,575) | 38,439) | 18,732) | (2,386) | 5,057) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Assets
Chevron Corp., assets by geographic area
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 102,108) | 93,783) | 73,992) | 69,938) | 64,598) |
| International | 154,802) | 159,204) | 161,158) | 165,450) | 168,367) |
| Goodwill | 4,722) | 4,722) | 4,385) | 4,402) | 4,463) |
| Total | 261,632) | 257,709) | 239,535) | 239,790) | 237,428) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Segment sales and other operating revenues
Chevron Corp., segment sales and other operating revenues by geographic area
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| United States | 124,277) | 143,161) | 86,934) | 47,910) | 79,693) |
| International | 121,865) | 143,900) | 99,021) | 65,755) | 93,302) |
| Total | 246,142) | 287,061) | 185,955) | 113,665) | 172,995) |
Based on: 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), 10-K (reporting date: 2019-12-31).