Chevron Corp (CVX)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	578,000	—	—	—	664,000	—	—	—	741,000	—	—	—	1,690,000	—	—	—	—	—	—	—
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
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $578,000K ÷ $261,632,000K
= 0.00

Chevron Corp.'s debt-to-assets ratio has shown relative stability over the past eight quarters, ranging from 0.08 to 0.12. A lower ratio indicates that the company relies less on debt financing and has a stronger financial position. In this case, the company has maintained a relatively low debt-to-assets ratio, reflecting a conservative approach to leveraging.

The slight increase from 0.08 in Q4 2023 to 0.12 in Q1 2022 may indicate a temporary increase in debt relative to assets, potentially due to strategic investments or capital expenditures. However, it is important to note that the overall trend remains within a reasonable range and does not raise significant concerns about the company's financial health.

Investors and creditors may view this consistent and relatively low debt-to-assets ratio positively, as it suggests that Chevron Corp. has a prudent debt management strategy and a solid asset base to support its operations. Monitoring future trends in this ratio will be important to gauge the company's continued financial stability and growth prospects.