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Chevron (NYSE:CVX) ROCE %

: 5.87% (As of Dec. 2023)
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ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Chevron's annualized ROCE % for the quarter that ended in Dec. 2023 was 5.87%.


Chevron ROCE % Historical Data

The historical data trend for Chevron's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Chevron Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROCE %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.89 -3.15 10.39 23.01 12.39

Chevron Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
ROCE % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 17.80 17.29 14.33 15.65 5.87

Chevron ROCE % Calculation

Chevron's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=30053/( ( (257709 - 34208) + (261632 - 0) )/ 2 )
=30053/( (223501+261632)/ 2 )
=30053/242566.5
=12.39 %

Chevron's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2023 )  (Q: Sep. 2023 )(Q: Dec. 2023 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2023 )  (Q: Sep. 2023 )(Q: Dec. 2023 )
=14440/( ( (263927 - 33263) + (261632 - 0) )/ 2 )
=14440/( ( 230664 + 261632 )/ 2 )
=14440/246148
=5.87 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Chevron  (NYSE:CVX) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.


Chevron ROCE % Related Terms

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Chevron (NYSE:CVX) Business Description

Address
6001 Bollinger Canyon Road, San Ramon, CA, USA, 94583-2324
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the U.S. and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2022 stood at 11.2 billion barrels of oil equivalent, including 6.1 billion barrels of liquids and 30.9 trillion cubic feet of natural gas.
Executives
Pierre R Breber officer: Vice President and President 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Jeff B Gustavson officer: Vice President 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Alana K Knowles officer: VP and Controller 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Rhonda J Morris officer: Vice President 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
James William Johnson officer: Senior Vice President 5125 DOLIVER DRIVE, HOUSTON TX 77056
Alice P Gast director LEHIGH UNIVERSITY, 27 MEMORIAL DRIVE WEST, BETHLEHEM PA 18015
Michael K Wirth officer: Executive Vice President 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
R. Hewitt Pate officer: VP and General Counsel 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Andrew Nigel Hearne officer: Executive Vice President 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Wanda M Austin director 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Cynthia J Warner director 1925 WEST FIELD COURT, SUITE 200, LAKE FOREST IL 60045
Joseph C Geagea officer: Senior Vice President 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Enrique Jr Hernandez director INTER-CON SECURITY SYSTEMS, INC., 210 SOUTH DELACEY AVENUE, PASADENA CA 91105
David A Inchausti officer: Vice Pres. and Comptroller 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Mark A Nelson officer: Vice President 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583