Chevron (CVX) FY2017 results: revenue $141.7 billion, up 23.8% on the year
Chevron Corp. (CVX) reported revenue of $141.7 billion for fiscal 2017, the year ended 31 December 2017, up 23.8% on the year before. Net income was $9.2 billion, and diluted earnings per share $4.85. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$141.7 billion
+23.8% on the year
FY2010FY2017
Operating margin
6.5%
-1.9% a year earlier
FY2010FY2017
Net income
$9.2 billion
FY2010FY2017
Diluted EPS
$4.85
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
141,722
114,472
138,477
+23.8%
Cost of revenue
75,765
59,321
n/a
+27.7%
Gross profit
65,957
55,151
n/a
+19.6%
Gross margin
46.5%
48.2%
n/a
Research and development
433
476
601
-9.0%
Selling, general and administrative
4,110
4,305
4,443
-4.5%
Operating income
9,221
-2,160
4,842
Operating margin
6.5%
-1.9%
3.5%
Interest expense
307
201
0.0
+52.7%
Pre-tax income
9,221
-2,160
4,842
Income tax
-48.0
-1,729
132
Effective tax rate
-0.5%
n/a
2.7%
Net income
9,195
-497
4,587
Net margin
6.5%
-0.4%
3.3%
Diluted EPS
$4.85
-$0.27
$2.45
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
20,338
12,690
19,456
+60.3%
Capital expenditure
13,404
18,109
29,504
-26.0%
Free cash flow
6,934
-5,419
-10,048
Free cash flow margin
4.9%
-4.7%
-7.3%
Cash from investing
-8,320
-16,370
-23,808
Cash from financing
-14,554
25.0
2,815
Depreciation and amortisation
19,349
19,457
21,037
-0.6%
Buybacks
1.0
2.0
2.0
-50.0%
Dividends paid
8,132
8,032
7,992
+1.2%
Diluted shares, weighted
1,898m
1,873m
1,875m
+1.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
148,124
145,556
152,716
+1.8%
Non-controlling interest
1,195
1,166
1,170
+2.5%
Debt
38,763
46,033
38,469
-15.8%
Other liabilities
65,724
67,323
72,185
-2.4%
Total liabilities and equity
253,806
260,078
264,540
-2.4%
Fixed assets
177,712
182,186
188,396
-2.5%
Goodwill
4,531
4,581
4,588
-1.1%
Investments
9.0
13.0
310
-30.8%
Cash and equivalents
4,813
6,988
11,022
-31.1%
Inventory
5,585
5,419
6,334
+3.1%
Other assets
61,156
60,891
53,890
+0.4%
Total assets
253,806
260,078
264,540
-2.4%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.