Chevron (FRA:CHV) ROCE %

: 6.21% (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 6.21%.

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.

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Chevron Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

2.93

-3.01

10.78

23.73

13.08

Chevron Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %																17.20	17.20	14.25	15.76	6.21

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 )
	=	27558.601	/	( ( (243277.296 - 32292.352)	+	(239916.544 - 29580.586) )	/ 2 )
	=	27558.601	/	( (210984.944	+	210335.958)	/ 2 )
	=	27558.601	/	210660.451
	=	13.08 %

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 )
	=	13241.48	/	( ( (247299.599 - 31167.431)	+	(239916.544 - 29580.586) )	/ 2 )
	=	13241.48	/	( ( 216132.168	+	210335.958 )	/ 2 )
	=	13241.48	/	213234.063
	=	6.21 %

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

Chevron (FRA:CHV) 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 (FRA:CHV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Chevron Corp (FRA:CHV) » Definitions » ROCE %

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Address

6001 Bollinger Canyon Road, San Ramon, CA, USA, 94583-2324

Website

https://www.chevron.com

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.

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