Chevron Corp (CVX)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	160,957,000	165,265,000	158,325,000	159,449,000	159,282,000	158,680,000	153,554,000	146,219,000	139,067,000	135,862,000	133,182,000	131,888,000	131,688,000	131,774,000	134,118,000	143,930,000	144,213,000	155,841,000	156,395,000	155,045,000
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%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $21,369,000K ÷ $160,957,000K
= 13.28%

Chevron Corp.'s return on equity (ROE) has exhibited fluctuations over the past eight quarters. The trend shows a general decline from Q1 2023 to Q4 2022, with ROE ranging from 13.28% to 22.27%. Notably, there was a significant drop in Q1 2023, where the ROE decreased to 13.28% from 22.44% in the previous quarter. However, the ROE in Q2 2023 saw a slight recovery compared to the previous quarter, reaching 19.05%.

Overall, the ROE has shown some volatility, with notable increases and decreases over the periods analyzed. It is essential for investors and stakeholders to closely monitor these fluctuations to understand the company's profitability and how effectively it is utilizing its equity to generate returns.