Chevron Corp (CVX)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 8,178,000 | 5,797,000 | 9,292,000 | 15,668,000 | 17,678,000 | 15,164,000 | 12,029,000 | 11,671,000 | 5,640,000 | 5,998,000 | 7,527,000 | 7,076,000 | 5,596,000 | 6,866,000 | 6,855,000 | 8,492,000 | 0 | 11,697,000 | 8,513,000 | 8,699,000 |
| Short-term investments | US$ in thousands | 744,000 | 141,000 | 318,000 | 130,000 | 851,000 | 267,000 | 341,000 | 33,000 | 374,000 | 34,000 | 34,000 | 32,000 | 327,000 | 28,000 | 59,000 | 50,000 | 349,000 | 58,000 | 58,000 | 56,000 |
| Total current liabilities | US$ in thousands | 32,258,000 | 33,263,000 | 29,847,000 | 33,735,000 | 34,208,000 | 36,883,000 | 39,121,000 | 31,203,000 | 26,791,000 | 25,188,000 | 28,147,000 | 27,480,000 | 22,183,000 | 19,664,000 | 20,825,000 | 28,235,000 | 26,530,000 | 30,233,000 | 28,829,000 | 29,951,000 |
| Cash ratio | 0.28 | 0.18 | 0.32 | 0.47 | 0.54 | 0.42 | 0.32 | 0.38 | 0.22 | 0.24 | 0.27 | 0.26 | 0.27 | 0.35 | 0.33 | 0.30 | 0.01 | 0.39 | 0.30 | 0.29 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($8,178,000K
+ $744,000K)
÷ $32,258,000K
= 0.28
The cash ratio of Chevron Corp. fluctuated over the past eight quarters, ranging from 0.31 to 0.63. The lowest cash ratio was observed in Q3 2023 at 0.31, indicating that the company had only $0.31 in cash and cash equivalents to cover $1 of current liabilities. This suggests a relatively tight liquidity position in that quarter.
On the other hand, the highest cash ratio of 0.63 was recorded in Q4 2022, reflecting a stronger liquidity position where Chevron had $0.63 in cash and cash equivalents for every $1 of current liabilities. This could signify better ability to meet short-term obligations.
The cash ratio trend shows some variability, with a general decline from Q4 2022 to Q3 2023, followed by a slight increase in Q4 2023. This pattern may indicate fluctuations in the company's cash reserves relative to its current liabilities over the analyzed period.
Overall, a cash ratio below 1 suggests that Chevron Corp. may need to rely on sources other than cash on hand to meet its short-term liabilities. Investors and stakeholders may want to monitor Chevron's cash position closely to assess its ability to manage short-term financial obligations effectively.
Peer comparison
Dec 31, 2023