Chevron Corp
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. It operates through Upstream, Downstream, and All Other segments. The Upstream segment engages in the exploration for, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasificatio… Read more
Chevron Corp (CVX) - Net Assets
Latest net assets as of December 2025: $192.18 Billion USD
Based on the latest financial reports, Chevron Corp (CVX) has net assets worth $192.18 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($324.01 Billion) and total liabilities ($131.84 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $192.18 Billion |
| % of Total Assets | 59.31% |
| Annual Growth Rate | 8.53% |
| 5-Year Change | 37.33% |
| 10-Year Change | 30.98% |
| Growth Volatility | 16.12 |
Chevron Corp - Net Assets Trend (1993–2025)
This chart illustrates how Chevron Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Chevron Corp (1993–2025)
The table below shows the annual net assets of Chevron Corp from 1993 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $192.18 Billion | +25.48% |
| 2024-12-31 | $153.16 Billion | -5.42% |
| 2023-12-31 | $161.93 Billion | +1.05% |
| 2022-12-31 | $160.24 Billion | +14.51% |
| 2021-12-31 | $139.94 Billion | +5.44% |
| 2020-12-31 | $132.73 Billion | -8.60% |
| 2019-12-31 | $145.21 Billion | -6.70% |
| 2018-12-31 | $155.64 Billion | +4.23% |
| 2017-12-31 | $149.32 Billion | +1.77% |
| 2016-12-31 | $146.72 Billion | -4.66% |
| 2015-12-31 | $153.89 Billion | -1.48% |
| 2014-12-31 | $156.19 Billion | +3.83% |
| 2013-12-31 | $150.43 Billion | +9.14% |
| 2012-12-31 | $137.83 Billion | +12.81% |
| 2011-12-31 | $122.18 Billion | +15.47% |
| 2010-12-31 | $105.81 Billion | +14.31% |
| 2009-12-31 | $92.56 Billion | +6.25% |
| 2008-12-31 | $87.12 Billion | +12.71% |
| 2007-12-31 | $77.29 Billion | +11.78% |
| 2006-12-31 | $69.14 Billion | +9.97% |
| 2005-12-31 | $62.88 Billion | +38.49% |
| 2004-12-31 | $45.40 Billion | +24.17% |
| 2003-12-31 | $36.56 Billion | +14.59% |
| 2002-12-31 | $31.91 Billion | -6.82% |
| 2001-12-31 | $34.24 Billion | +0.37% |
| 2000-12-31 | $34.12 Billion | +11.76% |
| 1999-12-31 | $30.52 Billion | +79.19% |
| 1998-12-31 | $17.03 Billion | -2.51% |
| 1997-12-31 | $17.47 Billion | +11.84% |
| 1996-12-31 | $15.62 Billion | +8.83% |
| 1995-12-31 | $14.36 Billion | -1.65% |
| 1994-12-31 | $14.60 Billion | +4.28% |
| 1993-12-31 | $14.00 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Chevron Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1371.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $205.37 Billion | 110.14% |
| Common Stock | $1.83 Billion | 0.98% |
| Other Comprehensive Income | $-2.70 Billion | -1.45% |
| Total Equity | $186.45 Billion | 100.00% |
Chevron Corp Competitors by Market Cap
The table below lists competitors of Chevron Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Industrial and Commercial Bank of China
PINK:IDCBY
|
$369.38 Billion |
|
Fomento Económico Mexicano, S.A.B. de C.V.
LSE:0TD7
|
$371.34 Billion |
|
Alibaba Group Holding Ltd
NYSE:BABA
|
$371.78 Billion |
|
Tencent Holdings Ltd
PINK:TCTZF
|
$376.09 Billion |
|
SK Hynix Inc
KO:000660
|
$360.99 Billion |
|
Procter & Gamble Company
NYSE:PG
|
$352.89 Billion |
|
The Home Depot Inc
NYSE:HD
|
$340.50 Billion |
|
Bank of America Corp
NYSE:BAC
|
$336.44 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Chevron Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 152,318,000,000 to 186,450,000,000, a change of 34,132,000,000 (22.4%).
- Net income of 12,299,000,000 contributed positively to equity growth.
- Dividend payments of 12,751,000,000 reduced retained earnings.
- Share repurchases of 11,855,000,000 reduced equity.
- Other comprehensive income increased equity by 296,000,000.
- Other factors increased equity by 46,143,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $12.30 Billion | +6.6% |
| Dividends Paid | $12.75 Billion | -6.84% |
| Share Repurchases | $11.86 Billion | -6.36% |
| Other Comprehensive Income | $296.00 Million | +0.16% |
| Other Changes | $46.14 Billion | +24.75% |
| Total Change | $- | 22.41% |
Book Value vs Market Value Analysis
This analysis compares Chevron Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.11x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 18.31x to 2.11x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1993-12-31 | $10.75 | $196.84 | x |
| 1994-12-31 | $11.20 | $196.84 | x |
| 1995-12-31 | $11.01 | $196.84 | x |
| 1996-12-31 | $11.97 | $196.84 | x |
| 1997-12-31 | $13.28 | $196.84 | x |
| 1998-12-31 | $12.98 | $196.84 | x |
| 1999-12-31 | $22.59 | $196.84 | x |
| 2000-12-31 | $25.52 | $196.84 | x |
| 2001-12-31 | $15.99 | $196.84 | x |
| 2002-12-31 | $14.80 | $196.84 | x |
| 2003-12-31 | $17.47 | $196.84 | x |
| 2004-12-31 | $21.31 | $196.84 | x |
| 2005-12-31 | $29.07 | $196.84 | x |
| 2006-12-31 | $31.37 | $196.84 | x |
| 2007-12-31 | $36.16 | $196.84 | x |
| 2008-12-31 | $42.27 | $196.84 | x |
| 2009-12-31 | $45.94 | $196.84 | x |
| 2010-12-31 | $52.30 | $196.84 | x |
| 2011-12-31 | $60.67 | $196.84 | x |
| 2012-12-31 | $69.49 | $196.84 | x |
| 2013-12-31 | $77.16 | $196.84 | x |
| 2014-12-31 | $81.68 | $196.84 | x |
| 2015-12-31 | $81.45 | $196.84 | x |
| 2016-12-31 | $77.72 | $196.84 | x |
| 2017-12-31 | $78.06 | $196.84 | x |
| 2018-12-31 | $80.74 | $196.84 | x |
| 2019-12-31 | $76.10 | $196.84 | x |
| 2020-12-31 | $70.42 | $196.84 | x |
| 2021-12-31 | $87.16 | $196.84 | x |
| 2022-12-31 | $82.09 | $196.84 | x |
| 2023-12-31 | $85.60 | $196.84 | x |
| 2024-12-31 | $83.83 | $196.84 | x |
| 2025-12-31 | $93.37 | $196.84 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Chevron Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.60%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.58%
- • Asset Turnover: 0.58x
- • Equity Multiplier: 1.74x
- Recent ROE (6.60%) is below the historical average (13.43%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1993 | 9.04% | 3.45% | 1.05x | 2.48x | $-134.70 Million |
| 1994 | 11.60% | 4.72% | 1.04x | 2.36x | $233.40 Million |
| 1995 | 6.48% | 2.51% | 1.08x | 2.39x | $-505.50 Million |
| 1996 | 16.69% | 5.94% | 1.26x | 2.23x | $1.04 Billion |
| 1997 | 18.64% | 7.76% | 1.18x | 2.03x | $1.51 Billion |
| 1998 | 7.86% | 4.38% | 0.84x | 2.15x | $-364.40 Million |
| 1999 | 10.90% | 3.79% | 1.14x | 2.53x | $267.90 Million |
| 2000 | 23.16% | 6.49% | 1.53x | 2.33x | $4.39 Billion |
| 2001 | 9.68% | 3.09% | 1.37x | 2.28x | $-107.80 Million |
| 2002 | 3.58% | 1.15% | 1.27x | 2.45x | $-2.03 Billion |
| 2003 | 19.92% | 5.96% | 1.49x | 2.24x | $3.60 Billion |
| 2004 | 29.47% | 8.58% | 1.67x | 2.06x | $8.80 Billion |
| 2005 | 22.50% | 7.11% | 1.58x | 2.01x | $7.83 Billion |
| 2006 | 24.86% | 8.16% | 1.58x | 1.92x | $10.24 Billion |
| 2007 | 24.24% | 8.46% | 1.48x | 1.93x | $10.98 Billion |
| 2008 | 27.62% | 8.94% | 1.66x | 1.86x | $15.27 Billion |
| 2009 | 11.41% | 6.23% | 1.02x | 1.79x | $1.29 Billion |
| 2010 | 18.10% | 9.60% | 1.07x | 1.76x | $8.52 Billion |
| 2011 | 22.16% | 11.01% | 1.17x | 1.73x | $14.76 Billion |
| 2012 | 19.18% | 11.35% | 0.99x | 1.71x | $12.53 Billion |
| 2013 | 14.37% | 9.73% | 0.87x | 1.70x | $6.51 Billion |
| 2014 | 12.41% | 9.60% | 0.75x | 1.72x | $3.74 Billion |
| 2015 | 3.00% | 3.53% | 0.49x | 1.73x | $-10.68 Billion |
| 2016 | -0.34% | -0.45% | 0.42x | 1.79x | $-15.05 Billion |
| 2017 | 6.21% | 6.83% | 0.53x | 1.71x | $-5.62 Billion |
| 2018 | 9.59% | 9.33% | 0.63x | 1.64x | $-631.40 Million |
| 2019 | 2.03% | 2.09% | 0.59x | 1.65x | $-11.50 Billion |
| 2020 | -4.21% | -5.87% | 0.39x | 1.82x | $-18.71 Billion |
| 2021 | 9.34% | 10.04% | 0.65x | 1.43x | $-1.11 Billion |
| 2022 | 22.27% | 14.40% | 0.96x | 1.62x | $19.54 Billion |
| 2023 | 13.28% | 10.85% | 0.75x | 1.63x | $5.27 Billion |
| 2024 | 11.59% | 9.13% | 0.75x | 1.69x | $2.43 Billion |
| 2025 | 6.60% | 6.58% | 0.58x | 1.74x | $-6.35 Billion |
Industry Comparison
This section compares Chevron Corp's net assets metrics with peer companies in the Oil & Gas Integrated industry.
Industry Context
- Industry: Oil & Gas Integrated
- Average net assets among peers: $6,608,043,584
- Average return on equity (ROE) among peers: -14.19%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Chevron Corp (CVX) | $192.18 Billion | 9.04% | 0.69x | $364.96 Billion |
| Bedford Energy Inc (BFDE) | $270.56K | 33.19% | 3.36x | $0.97 |
| Brinx Resources Ltd (BNXR) | $3.42 Million | -3.85% | 0.01x | $1.97K |
| BP p.l.c (BPAQF) | $11.24 Billion | 15.02% | 1.73x | $69.85 Billion |
| Crown LNG Holdings Limited Ordinary Shares (CGBS) | $19.26K | -29.83% | 3.48x | $16.80K |
| Crown LNG Holdings Limited Warrants (CGBSW) | $14.89 Million | -181.71% | 1.10x | $834.21K |
| CNVEF (CNVEF) | $28.71 Billion | 14.31% | 0.88x | $18.53 Billion |
| Cenovus Energy Inc (CVE) | $19.20 Billion | 11.43% | 0.86x | $36.54 Billion |
| Diversified Energy Company plc (DEC) | $-5.06 Million | 0.00% | 0.00x | $948.63 Million |
| ECA Marcellus Trust I Unit (ECTM) | $304.85 Million | 13.74% | 0.05x | $4.85K |