Chevron Corp (CVX)
Profitability ratios
Return on sales
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit margin | 36.84% | 37.08% | 38.05% | 38.71% | 38.24% | 39.39% | 40.05% | 40.21% | 41.08% | 39.02% | 37.12% | 32.82% | 35.19% | 29.49% | 31.00% | 35.42% | 33.98% | 40.33% | 40.20% | 39.08% |
| Operating profit margin | 22.40% | 23.09% | 24.88% | 26.62% | 26.45% | 27.64% | 27.75% | 26.47% | 25.85% | 21.83% | 17.49% | 7.07% | 9.28% | 5.27% | 8.47% | 17.47% | 16.56% | 23.85% | 24.70% | 23.92% |
| Pretax margin | 14.70% | 17.04% | 18.81% | 20.60% | 20.11% | 19.63% | 18.50% | 15.40% | 13.28% | 9.78% | 4.66% | -9.92% | -7.85% | -14.01% | -9.13% | 4.07% | 3.83% | 12.37% | 12.79% | 11.87% |
| Net profit margin | 10.63% | 12.11% | 13.54% | 14.74% | 14.40% | 14.36% | 13.45% | 11.10% | 9.62% | 7.10% | 3.01% | -8.15% | -5.85% | -10.86% | -7.41% | 2.71% | 2.00% | 8.70% | 9.18% | 8.45% |
Chevron Corp.'s profitability ratios have shown some fluctuation over the past eight quarters. The gross profit margin has generally ranged between 38% and 40%, indicating relatively stable profitability on its core operations.
The operating profit margin has varied more noticeably, with a decline from Q1 to Q3 of 2023 followed by a slight recovery in Q4 2023. This suggests some challenges in controlling operating expenses during that period.
The pretax margin has displayed a similar pattern to the operating profit margin, with a noticeable drop in Q3 2023 followed by a rebound in Q4 2023. This indicates that despite fluctuations in operating income, the company has managed its taxes effectively.
The net profit margin, reflecting bottom-line profitability, has also fluctuated but has generally remained above 10%. The company experienced an increase in net profit margin from Q1 2023 to Q3 2023 before a slight decrease in Q4 2023.
Overall, Chevron Corp. has maintained healthy profitability levels, although some variations in profit margins suggest the need for continued monitoring and management of operational and financial performance.
Return on investment
| 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 return on assets (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% |
| Return on assets (ROA) | 8.17% | 9.65% | 11.98% | 13.98% | 13.76% | 13.15% | 11.26% | 8.23% | 6.52% | 4.13% | 1.48% | -3.21% | -2.31% | -5.15% | -3.89% | 1.64% | 1.23% | 5.17% | 5.76% | 5.39% |
| Return on total capital | 18.67% | 22.03% | 26.85% | 31.73% | 31.36% | 29.82% | 26.45% | 19.95% | 15.99% | 10.63% | 4.76% | -6.57% | -5.02% | -10.72% | -7.45% | 4.56% | 4.46% | 12.74% | 13.73% | 13.18% |
| Return on equity (ROE) | 13.28% | 15.41% | 19.05% | 22.44% | 22.27% | 21.53% | 18.92% | 14.02% | 11.24% | 7.29% | 2.69% | -5.89% | -4.21% | -8.72% | -6.49% | 2.69% | 2.03% | 8.51% | 9.42% | 8.92% |
Chevron Corp.'s profitability ratios have shown a generally positive trend over the quarters provided. The Operating Return on Assets (Operating ROA) has ranged from 8.68% to 15.82%, indicating that the company has been efficient in generating operating profits from its total assets. The Return on Assets (ROA) has shown a similar pattern, ranging from 8.17% to 13.98%, demonstrating the company's ability to generate profits relative to its total assets.
The Return on Total Capital has been consistently higher, ranging from 16.20% to 26.59%, indicating that Chevron has been effective in generating returns for both shareholders and debtholders. The Return on Equity (ROE) has also been on an upward trend, ranging from 13.28% to 22.44%, showcasing the company's ability to generate profits from shareholder equity.
Overall, Chevron Corp.'s profitability ratios depict a favorable picture, with consistent improvements in generating profits relative to assets, capital, and equity over the quarters provided.