Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Chevron Corp., liquidity ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.27 | 1.47 | 1.26 | 1.18 | 1.07 | |
| Quick ratio | 0.87 | 1.12 | 0.90 | 0.77 | 0.72 | |
| Cash ratio | 0.25 | 0.52 | 0.21 | 0.25 | 0.22 |
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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Chevron Corp. current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Chevron Corp. quick ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Chevron Corp. cash ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Current Ratio
Chevron Corp., current ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 41,128) | 50,343) | 33,738) | 26,078) | 28,329) | |
| Current liabilities | 32,258) | 34,208) | 26,791) | 22,183) | 26,530) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.27 | 1.47 | 1.26 | 1.18 | 1.07 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| ConocoPhillips | 1.43 | 1.46 | 1.34 | 2.25 | 2.40 | |
| Exxon Mobil Corp. | 1.48 | 1.41 | 1.04 | 0.80 | 0.78 | |
| Marathon Petroleum Corp. | 1.59 | 1.76 | 1.70 | 1.81 | 1.25 | |
| Occidental Petroleum Corp. | 0.92 | 1.15 | 1.23 | 1.07 | 1.25 | |
| Valero Energy Corp. | 1.56 | 1.38 | 1.26 | 1.71 | 1.44 | |
| Current Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.42 | 1.46 | 1.23 | 1.16 | 1.08 | |
| Current Ratio, Industry | ||||||
| Energy | 1.42 | 1.44 | 1.23 | 1.17 | 1.09 | |
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
Current ratio = Current assets ÷ Current liabilities
= 41,128 ÷ 32,258 = 1.27
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Chevron Corp. current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Quick Ratio
Chevron Corp., quick ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 8,178) | 17,678) | 5,640) | 5,596) | 5,686) | |
| Marketable securities | 45) | 223) | 35) | 31) | 63) | |
| Accounts and notes receivable, less allowance | 19,921) | 20,456) | 18,419) | 11,471) | 13,325) | |
| Total quick assets | 28,144) | 38,357) | 24,094) | 17,098) | 19,074) | |
| Current liabilities | 32,258) | 34,208) | 26,791) | 22,183) | 26,530) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.87 | 1.12 | 0.90 | 0.77 | 0.72 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| ConocoPhillips | 1.21 | 1.27 | 1.10 | 1.98 | 1.93 | |
| Exxon Mobil Corp. | 1.06 | 1.03 | 0.69 | 0.44 | 0.47 | |
| Marathon Petroleum Corp. | 1.08 | 1.26 | 1.22 | 0.39 | 0.58 | |
| Occidental Petroleum Corp. | 0.51 | 0.68 | 0.84 | 0.50 | 0.63 | |
| Valero Energy Corp. | 1.07 | 0.96 | 0.86 | 1.01 | 0.88 | |
| Quick Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.00 | 1.07 | 0.87 | 0.62 | 0.66 | |
| Quick Ratio, Industry | ||||||
| Energy | 0.99 | 1.06 | 0.86 | 0.63 | 0.67 | |
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
Quick ratio = Total quick assets ÷ Current liabilities
= 28,144 ÷ 32,258 = 0.87
2 Click competitor name to see calculations.
| Liquidity 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. quick ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Cash Ratio
Chevron Corp., cash ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 8,178) | 17,678) | 5,640) | 5,596) | 5,686) | |
| Marketable securities | 45) | 223) | 35) | 31) | 63) | |
| Total cash assets | 8,223) | 17,901) | 5,675) | 5,627) | 5,749) | |
| Current liabilities | 32,258) | 34,208) | 26,791) | 22,183) | 26,530) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.25 | 0.52 | 0.21 | 0.25 | 0.22 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| ConocoPhillips | 0.66 | 0.72 | 0.55 | 1.46 | 1.45 | |
| Exxon Mobil Corp. | 0.48 | 0.43 | 0.12 | 0.08 | 0.05 | |
| Marathon Petroleum Corp. | 0.51 | 0.59 | 0.61 | 0.03 | 0.09 | |
| Occidental Petroleum Corp. | 0.16 | 0.13 | 0.33 | 0.24 | 0.20 | |
| Valero Energy Corp. | 0.32 | 0.28 | 0.24 | 0.36 | 0.20 | |
| Cash Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.41 | 0.46 | 0.27 | 0.20 | 0.18 | |
| Cash Ratio, Industry | ||||||
| Energy | 0.40 | 0.45 | 0.27 | 0.21 | 0.18 | |
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
Cash ratio = Total cash assets ÷ Current liabilities
= 8,223 ÷ 32,258 = 0.25
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Chevron Corp. cash ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |