Chevron Corp (CVX)

Return on assets (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
Net income (ttm)	US$ in thousands	21,369,000	25,463,000	30,168,000	35,780,000	35,465,000	34,167,000	29,047,000	20,507,000	15,625,000	9,905,000	3,587,000	-7,765,000	-5,543,000	-11,488,000	-8,701,000	3,874,000	2,924,000	13,264,000	14,731,000	13,835,000
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
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%

December 31, 2023 calculation

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

Chevron Corp.'s return on assets (ROA) has been fluctuating over the past eight quarters, ranging from 8.17% in Q4 2023 to 13.98% in Q1 2023. The company's ROA peaked in Q1 2023 at 13.98% before gradually declining to 8.17% in the most recent quarter, Q4 2023. Overall, Chevron's ROA has shown a general upward trend from Q1 2022 to Q1 2023, indicating improved efficiency in generating profits from its assets. However, the recent decrease in ROA suggests a potential decrease in profitability relative to its asset base, which may warrant further analysis and monitoring.