Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
Over 2021–2024 Chevron’s balance sheet shows modest growth in total assets with a step-up in 2022 and relative stability thereafter: assets rose from $239,535m in 2021 to $257,709m in 2022 (+7.6%), edged up to $261,632m in 2023 (+1.5%), then dipped to $256,938m in 2024 (−1.8% from 2023). Total liabilities fell slightly in 2022 (from $99,595m to $97,467m) but then increased across 2023–24 to $103,781m, leaving liabilities modestly higher than 2021 (+4.2% over the period). Stockholders’ equity jumped most strongly in 2022 (from $139,067m to $159,282m, +14.5%), was essentially flat in 2023, and then declined in 2024 to $152,318m; equity in 2024 remains above the 2021 level (+9.5% from 2021). The capital structure stayed conservative: liabilities-to-assets moved from about 41.6% (2021) down to ~37.8% (2022), then back toward ~40.4% by 2024, while equity-to-assets remained a majority (≈58–62% range). The large 2022 improvement in equity and assets is consistent with the commodity-driven recovery and strong cash generation that benefitted major oil & gas companies after 2021–22 market dislocations (supporting retained earnings, buybacks or asset investment). The 2024 rise in liabilities and pullback in equity could reflect higher borrowings, capital returns, impairments, or normal cycle effects on valuation and working capital — but the balance sheet remains well-capitalized for an integrated oil major. (Note: 2025 entries are zero and appear to be missing data, so they were excluded from this review.)
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.