Chevron (CVX) FY2023 results: revenue $200.9 billion, down 18.4% on the year
Chevron Corp. (CVX) reported revenue of $200.9 billion for fiscal 2023, the year ended 31 December 2023, down 18.4% on the year before. Net income was $21.4 billion, down 39.7%, and diluted earnings per share $11.36. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$200.9 billion
-18.4% on the year
FY2016FY2023
Operating margin
14.7%
20.2% a year earlier
FY2016FY2023
Net income
$21.4 billion
-39.7% on the year
FY2016FY2023
Diluted EPS
$11.36
-37.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
35,609
49,602
29,187
-28.2%
Capital expenditure
15,829
11,974
8,056
+32.2%
Free cash flow
19,780
37,628
21,131
-47.4%
Free cash flow margin
9.8%
15.3%
13.0%
Cash from investing
-15,232
-12,108
-5,865
Cash from financing
-30,109
-24,978
-23,113
Depreciation and amortisation
17,326
16,319
17,925
+6.2%
Buybacks
14,939
11,255
1,383
+32.7%
Dividends paid
11,336
10,968
10,179
+3.4%
Dividend per share
$6.04
$5.68
$5.31
+6.3%
Diluted shares, weighted
1,880m
1,940m
1,920m
-3.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
160,957
159,282
139,067
+1.1%
Non-controlling interest
972
960
873
+1.2%
Redeemable equity
166
142
135
+16.9%
Debt
20,836
23,339
31,369
-10.7%
Operating lease liabilities
3,696
2,920
2,508
+26.6%
Finance lease liabilities
574
403
449
+42.4%
Other liabilities
74,431
70,663
65,134
+5.3%
Total liabilities and equity
261,632
257,709
239,535
+1.5%
Fixed assets
n/a
143,591
146,961
Goodwill
4,722
4,722
4,385
0.0%
Investments
45.0
223
35.0
-79.8%
Cash and equivalents
8,178
17,678
5,640
-53.7%
Receivables
17,640
18,200
16,400
-3.1%
Inventory
8,612
8,247
6,795
+4.4%
Other assets
222,435
65,048
59,319
+242.0%
Total assets
261,632
257,709
239,535
+1.5%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.