Key Performance Metrics

  • The review of Net Profit Margin witnessed a fluctuating trend. The Net Profit Margin moved from 2.0% in 2019 to 10.63% in 2023.
  • The average EBIT Margin for the period under analysis was 9.24%, with 2020 and 2022 performing the worst and best, respectively.
  • In the current year, Chevron covered its interest liabilities 60.17 times, compared to 2019 when it was 8.04 times.
  • The Asset turnover stood at 0.78 times in 2023 from 0.58 in 2019, implying a low performance on Assets of the business in relation to revenue.


  • The revenue of Chevron has fluctuated year on year. The revenue decreased by -35.37% between 2019 and 2020 and a further 51.57% increase was recorded between 2021 and 2022. There also occurred a decrease of -18.40% between 2022 and 2023 (the current period).
  • Chevron’s performance in profitability looks good as the return on capital employed also recorded a good performance during the period of analysis.


  • The company’s result in liquidity looks strong, as the current ratio decreased from 1.47:1 to 1.27:1 in the last year. Which implies that the company does not have enough assets to settle its current liabilities.

Capital Structure

  • Chevron is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been falling year on year. The gearing position of the company appears to be low as it stood at 13% in the current year.

Source: Chevron Annual Report

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