Chevron Corp (CVX)
Operating return on assets (Operating ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 45,006,000 | 48,545,000 | 55,442,000 | 64,610,000 | 65,133,000 | 65,756,000 | 59,932,000 | 48,916,000 | 42,005,000 | 30,469,000 | 20,873,000 | 6,729,000 | 8,789,000 | 5,579,000 | 9,946,000 | 24,957,000 | 24,262,000 | 36,369,000 | 39,616,000 | 39,180,000 |
| Total assets | US$ in thousands | 261,632,000 | 263,927,000 | 251,779,000 | 255,886,000 | 257,709,000 | 259,735,000 | 257,936,000 | 249,048,000 | 239,535,000 | 239,948,000 | 242,806,000 | 241,645,000 | 239,790,000 | 223,063,000 | 223,403,000 | 236,677,000 | 237,428,000 | 256,537,000 | 255,878,000 | 256,809,000 |
| Operating ROA | 17.20% | 18.39% | 22.02% | 25.25% | 25.27% | 25.32% | 23.24% | 19.64% | 17.54% | 12.70% | 8.60% | 2.78% | 3.67% | 2.50% | 4.45% | 10.54% | 10.22% | 14.18% | 15.48% | 15.26% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $45,006,000K ÷ $261,632,000K
= 17.20%
Based on the data provided for Chevron Corp.'s operating return on assets (ROA) over the past eight quarters, we can observe fluctuations in the performance metric. The operating ROA ranged from a low of 8.68% in Q1 2022 to a high of 15.82% in Q1 2023.
The trend indicates an overall improvement in operating ROA over the quarters, with the metric progressively increasing from Q1 2022 to Q1 2023. Notably, there was a significant jump from 8.68% in Q1 2022 to 15.82% in Q1 2023, reflecting a substantial improvement in the company's operating efficiency and profitability.
However, in the most recent quarters of Q3 and Q4 2023, we observed a slight decrease in operating ROA compared to the peak in Q1 2023. This decline may signal potential challenges or changes in the company's operations impacting its ability to generate returns from its assets.
Overall, Chevron Corp.'s operating ROA performance indicates a generally positive trend with some fluctuations, suggesting that the company has been effectively utilizing its assets to generate operating profits, although recent quarters show a slight dip in performance that may warrant further investigation.
Peer comparison
Dec 31, 2023