Chevron Corp (CVX)
Debt-to-equity 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 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 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $578,000K ÷ $160,957,000K
= 0.00
The debt-to-equity ratio of Chevron Corp. has been relatively stable over the past two years, ranging from 0.12 to 0.20. This indicates that the company has been maintaining a conservative capital structure, with a higher proportion of equity financing compared to debt. A lower ratio suggests that Chevron relies more on equity to finance its operations and growth, which can be seen as a positive sign of financial stability and lower financial risk. However, the slight increase in the ratio from Q3 2023 to Q4 2023 could indicate a potential increase in debt compared to equity during that period, which investors may want to monitor for any impact on the company's financial health and risk profile. Overall, Chevron's debt-to-equity ratio reflects a balanced approach to capital structure management.
Peer comparison
Dec 31, 2023