TRADITIONAL SECURITY ANALYSIS
ECONOMIC ANALYSIS
INDUSTRIAL GOVERNMENT DEBT MONEY
GDP TAXES INTEREST RATES INFLATION
PRODUCTION SPENDING MANAGEMENT SUPPLY
The U.S. Help your Amount of Chevron Current and Chevron Supply Effective interest rate on debt is Inflation by holding 3M
oil and gas equipment and current income Corporation today historical debt to and Trading the usage rate that a borrower Company (NYSE:MMM) stock
industry operation run tax expense announced a 2018 equity ratio values provides a critical actually pays on a debt. It is for long periods, but 3M is not
supports better longer. (benefit) capital and for Chevron link between the calculated as the positive value of the only stock suitable for this
Interest Expense divided by its
more than 9 From our pertaining to exploratory (CVX) over the market and kind of strategy. Chevron
average total debt. Total debt
million jobs premium base taxable income spending program last 10 years. The Chevron’s equals to Long-Term Debt & Corporation (NYSE:CVX) has
and oils to innovative (loss) from of $18.3 billion. debt/equity ratio Upstream Capital Lease Obligation plus shown even superior results.
accounts additives to continuing This figure can be defined as a and Downstream Current Portion of Long-Term
for about finished operations. includes $5.5 measure of a & Chemicals Debt. Chevron Corp's annualized
7.5 percent lubricants, our Chevron Corp.’s billion for the company's companies. We positive value of Interest Expense
of product integrity current increased company’s share financial leverage provide for the quarter that ended in Dec.
America's and consistency from 2016 to of expenditures by calculated by commercial 2018 was $760 Mil. Chevron
GDP. That helps your 2017 and from affiliated dividing its long- support to our Corp's average total debt for the
is a operation 2017 to 2018. companies. term debt by crude oil and quarter that ended in Dec. 2018
was $35,285 Mil. Therefore,
powerful achieve real Company's stockholders' natural
Chevron Corp's annualized
engine of gains in effective tax rate equity. Chevron gas production effective interest rate on debt for
economic equipment in IV. Quarter debt/equity for the operations and to the quarter that ended in Dec.
growth. reliability and decreased three months our refining and 2018 was 2.15%.
Any sound productivity. compare to ending December marketing network
economy. previous quarter 31, 2018 was 0.19.
to 24.13 %, below
company's
average Effective
Tax Rate.
ECONOMIC ANALYSIS
CONSUMER BUSINESS CURRENCY PERSONAL
FOREIGN TRADE RETAIL SALES EMPLOYMENT REMARKS
SPENDING INVESTMENTS EXCHANGE RATES INCOME
In the United Among Chevron’s Chevron Supply and Chevron Corp's net Our 6,000 global In order for Rock When applying for
States in 2017, most powerful Trading (S&T) provides a foreign currency marketing colleagues Springs to meet an open position,
we spent tools for creating critical link between the exchange gain & loss work in 90 countries baseline personnel applicants will be
approximately prosperity market and Chevron’s for the three months and support more needs in 1984 and prompted to
$600 million are our supply upstream, downstream and ended in Dec. 2018 was than 20,000 retail 1990, few additional complete an online
with woman- chain and chemicals companies. Our $-207 Mil. Its net locations, ensuring personnel would be profile; a resume or
and workforce trading professionals foreign currency that customers around required (Table 3-5). CV is required to
minority-owned investments. Our manage commodity exchange gain & loss the world can enjoy Facilities in Rock complete the online
businesses and investments can transactions averaging 5 for the trailing twelve leading-edge Springs are either profile. This gives
more than help these local million barrels of liquids months (TTM) ended in products and services adequate or nearly so, us a full picture of
$1.5 billion on businesses and 5 billion cubic feet of Dec. 2018 wa $123 in clean, safe and up to 1990, except for your skills and
goods and grow, creating new natural gas each day. Our Mil. reliable surroundings. sewage treatment (T qualifications.
services from jobs and bringing activities are organized by able 3-5). By 1990, Once a position has
small more resources into crude oil, natural gas and A Chevron sales and Rock Springs would closed, our
businesses. See the local refined products. marketing career have to increase its experienced
Page 26 for community. offers the opportunity sewage treatment staffing team will
further . to bring Chevron capacity by 19 screen all the
information on energy solutions to percent, since the applicants and
our goods and markets around the present system is now provide the hiring
services globe. operating above manager with a list
spending Much capacity. However, the of qualified
of Chevron’s city is currently applicants to
spending is on constructing a 2.25 review.
goods and million gallon per day
services expansion, which
provided would make the
by locally owned system adequate
companies. through 1990. The
INDUSTRY ANALYSIS - Porter’s Model
BARGAINING
THREAT OF BARGAINING POWER GOVERNMENT INTENSITY OF
THREAT OF ENTRY POWER OF REMARKS
SUBSTITUTE OF CUSTOMERS POLICIES RIVALRY
SUPPLIERS
To analyze industry and The threat of a substitute All most all the companies in They consist of those forces The purpose of this paper
understand underlying product or service is high the Major Integrated Oil & close to a company that affect is to analyse the oil and
levers of profitability in a if it offers a value Gas industry buy their raw its ability to serve its gas industry’s
material from numerous Associated government
given industry. Chevron proposition that is customers and make a profit. policies should be competitiveness using
suppliers. Suppliers in
Corporation managers can uniquely different from A change in any of the forces technology neutral and Porter’s Five Forces
dominant position can
use Porter Five Forces to present offerings of the decrease the margins normally requires a company support early stage pre- framework. The paper
understand how the five industry Chevron Corporation can to re-assess the marketplace. commercial activity to starts with an overview of
competitive forces earn in the market. Powerful Four forces -- the bargaining advance needed the oil and gas industry
influence profitability and suppliers in Basic Materials power of customers, the technology and cost and proceeds with
develop a strategy for sector use their negotiating bargaining power. breakthroughs. analysing its
enhancing Chevron power to extract higher . Continued global competitiveness with
Corporation competitive prices from the firms in implications to new firms
Major Integrated Oil & Gas
research on climate
advantage and long term science is also critically that are considering
profitability in Major field. The overall impact of entering into the industry.
higher supplier bargaining important to further our
Integrated Oil & Gas understanding of the Then, it discusses strategy
power is that it lowers the
industry. overall profitability of Major complex relationship literature assumptions
Integrated Oil & Gas. between GHG emissions about future certainty and
and climate and narrow approaches to strategic
the uncertainty in decision making.
predictive models.
TRADITIONAL
SECURITYANALYSIS
FUNDAMENTAL
ANALYSIS
BALANCE SHEET YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 REMARKS
CA 42.23B 34.43B 29.62B 28.56B 34.02B
FA 223.8B 230.11B 233.46B 225.26B 219.84B
TA 266.03B 264.54B 260.08B 253.81B 253.86B
CL 31.93B 25.47B 31.79B 27.74B 27.17B
LTL 24.03B 33.62B 35.29B 33.57B 28.73B
TL 109.84B 110.65B 113.36B 104.49B 98.22B
SE 155.03B 152.72B 145.56B 148.12B 154.55B
RE 184.99B 181.58B 173.05B 174.11B 180.99B
TSE 156.19B 153.89B 146.72B 149.32B 155.64B
INCOME STATEMENT YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 REMARKS
SALES 199.94 129.65B 110.48B 134.78B 158.77B
CGS 163.72 117.19B 100.05B 115.1B 135.72B
GP 36.22B 12.46B 10.44B 19.68B 23.05B
S&AE 4.49B 4.44B 4.6B 4.76B 4.4B
NPBT 31.2B 4.84B (2.16B) 9.22B 20.58B
TAX 11.89B 132M (1.73B) (48M) 5.72B
NPAT 19.24B 4.59B (497M) 9.2B 14.82B
TRADITIONAL SECURITY ANALYSIS
FUNDAMENTAL ANALYSIS
Financial Ratios
LIQUIDITY
INDUSTRY
Y1 Y2 Y3 Y4 Y5 AVERAGE REMARKS
CR 1.39 1.31 1.22 1.35 1.37 6.64
ACID 0.9 0.91 0.83 0.84 0.86 4.34
NWC 0.28 0.31 0.27 0.25 0.26 1.37
ACTIVITY
INDUSTRY
Y1 Y2 Y3 Y4 Y5 AVERAGE REMARKS
ARTO
INVTO
TATO
LEVERAGE
Y1 Y2 Y3 Y4 Y5 INDUSTRY REMARKS
AVERAGE
DEBT-EQUITY 1.1 1.05 0.99 1.16 1.02
TIMES INTEREST
EARNED
PROFITABILITY
INDUSTRY
Y1 Y2 Y3 Y4 Y5 REMARKS
AVERAGE
7.09% 4.76% -0.19% 1.77% 11.86%
NET PROFIT MARGIN
ROA 4.36% 2.68% -0.09% 0.98% 7.83%
ROA BREAKDOWN
ROE 22.06% 14.19% -0.51% 5.50% 43.79%
ROE BREAKDOWN
COMMON STOCK RATIOS
INDUSTRY
Y1 Y2 Y3 Y4 Y5 REMARKS
AVERAGE
PRICE-EQUITY RATIO 128.11 40.38 26.5 24.48 12.4
PRICE-EQUITY GROWTH RATIO (PEG)
DIVIDENDS PER SHARE 2.6 2.94 3.08 3.1 3.28
PAYOUT RATIO
BOOK VALUE PER SHARE 22.92 25.43 25.04 26.86 24.39
PRICE TO BOOK RATIO 2.61 2.5 2.6 4.33 5.63
RISKS
PURCHASING INTEREST CURRENCY
BUSINESS FINANCIAL LIQUIDITY TAX EVENT MARKET BETA REMARKS
POWER RATE EXCHANGE
.
RETURNS
MARKET PRICE TOTAL RETURN STANDARD DEVIATION OF RETURNS
(2) (3) (4)
(4) (2) (3)
(1) MARKET MARKET (1) (3)2
(3) - (2) (5) (6) AVERAGE (1) - (2)
DIVIDEND PRICE PRICE REMARKS YEAR (t) RETURN (rt (%) - REMARKS
CAPITAL (1) + (4) (5) / (2) RETURN rt (%) -
INCOME BEGINNING END OF rt(%) Ave
GAIN Avert(%) Ave rt(%)
OF YEAR YEAR rt)2(%)
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
COMPANY STOCK VALUATION
S1 S2 S3
FUTURE FUTURE STOCK
FUTURE SALES FUTURE PROFITS FUTURE EPS MARKET PRICE REMARKS
DIVIDENDS PRICE
ZERO GROWTH CONSTANT GROWTH
CONSTANT
REQUIRED REQUIRED
ANNUAL NEXT YEAR’S RATE OF
RATE OF RESULT REMARKS RATE OF RESULT REMARKS
DIVIDENDS DIVIDEND GROWTH IN
RETURN RETURN
DIVIDENDS
VARIABLE GROWTH DIVIDENDS AND EARNINGS APPROACH
PV OF FUTURE PV OF THE PRICE
PV OF THE PRICE
DIVIDENDS OF THE STOCK AT
PV OF FUTURE OF THE STOCK
DURING THE THE END OF THE RESULT REMARKS RESULT REMARKS
DIVIDENDS AT THE DATE OF
INITIAL VARIABLE VARIABLE
SALE
GROWTH PERIOD GROWTH PERIOD
OTHER STOCK VALUATION MODELS
PRICE/EARNINGS APPROACH PRICE-TO-CASH-FLOW APPROACH
MARKET PRICE
CASH FLOW
EPS PE RATIO RESULT REMARKS OF COMMON RESULT REMARKS
PER SHARE
STOCK
OTHER STOCK VALUATION MODELS
PRICE-TO-SALE APPROACH PRICE-TO-BOOK- VALUE APPROACH
MARKET PRICE MARKET PRICE
SALES PER BOOK VALUE
OF COMMON RESULT REMARKS OF COMMON RESULT REMARKS
SHARE PER SHARE
STOCK STOCK
