CVX Chevron Corporation

Exchange

NYSE

Sector

Energy

Industry

Integrated oil Companies

Market Cap.

244.4B

Poor Cash Return on Invested Capital over the past 5 years

CVX has been unable to consistently generate sufficient returns from its investments in buildings, projects and equipment. This could be due to poor management, lack of an economic moat or the capital intensive nature of the business.

CVX has only created $6.71 of cash for every $100 invested.

Figures in USD. Fiscal year ends in December

	2007	2008	2009	2010	2011
Free Cash Flow	8.30B	9.97B	-470.00M	11.75B	14.60B
divided by
Invested Capital	106.89B	119.58B	129.59B	138.69B	155.80B
Cash ROIC	7.76%	8.33%	-0.36%	8.47%	9.37%

Excellent Return on Equity over the past 5 years

Over the past 5 years, CVX has generated strong profits with money shareholders have invested. This is considered one of the best indicators of quality management. Beware of extremely high Return on Equity (> 50%) as this is often unsustainable.

CVX has generated $20.71 of Earnings for every $100 of Shareholders' Equity.

Figures in USD. Fiscal year ends in December

	2007	2008	2009	2010	2011
Net Income	18.69B	23.93B	10.48B	19.02B	26.90B
divided by
Stockholders' Equity	77.09B	86.65B	91.91B	105.08B	121.38B
Return on Equity	24.24%	27.62%	11.41%	18.10%	22.16%

Excellent Business Performance over the past 10 years

CVX has been able to maintain profitability in good times and bad. This could mean CVX has an extremely strong business or has the ability to scale down costs when needed. This should be a fairly resilient business, but double check for future sustainability by looking at its Risk Factors in the Annual Report.

CVX has created positive free cash flow for 9 or more of the past 10 years.

Figures in USD. Fiscal year ends in December

	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011
Free Cash Flow	2.34B	6.69B	8.38B	11.40B	10.51B	8.30B	9.97B	-470.00M	11.75B	14.60B