Chevron Corp (CVX)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	21,369,000	35,465,000	15,625,000	-5,543,000	2,924,000
Total assets	US$ in thousands	261,632,000	257,709,000	239,535,000	239,790,000	237,428,000
ROA		8.17%	13.76%	6.52%	-2.31%	1.23%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $21,369,000K ÷ $261,632,000K
= 8.17%

Chevron Corp.'s return on assets (ROA) has fluctuated over the past five years, indicating varying levels of efficiency in generating profits from its assets. In 2023, the ROA stood at 8.17%, reflecting a decrease from the previous year's 13.76%, suggesting a potential decline in profitability relative to its asset base. The ROA in 2021 was 6.52%, showing an improvement from the negative ROA of -2.31% in 2020. This negative ROA in 2020 suggests that Chevron faced challenges in utilizing its assets effectively to generate profits during that period. The positive ROA in 2019, at 1.23%, indicates a modest profitability level compared to the more recent years. Overall, Chevron's ROA trend highlights the importance of efficiently managing assets to enhance profitability and shareholder value.