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Stock research / United States / CVX · Petroleum Refining · NYSE

Chevron Corp. (CVX)

Chevron Corporation is a Delaware holding company whose subsidiaries and affiliates run integrated energy and chemicals operations. Upstream work covers exploring for, developing, producing and transporting crude oil and natural gas, the liquefaction, transport and regasification of LNG, crude transport through major international export pipelines, gas storage and marketing, carbon capture and storage, and a gas-to-liquids plant. Downstream work covers refining crude into petroleum products, marketing crude, refined products and lubricants, making renewable fuels, moving crude and products by pipeline, marine vessel, road and rail, and making commodity petrochemicals, plastics for industrial use and fuel and lubricant additives. Activities reach North America, South America, Europe, Africa, Asia and Australia, all managed by a single Oil, Products and Gas organisation. There were 37,860 non-service-station employees at the end of 2025, 19,366 of them in the United States.

Chevron Corp.

Chevron Corporation is a Delaware holding company whose subsidiaries and affiliates run integrated energy and chemicals operations. Upstream work covers exploring for, developing, producing and transporting crude oil and natural gas, the liquefaction, transport and regasification of LNG, crude transport through major international export pipelines, gas storage and marketing, carbon capture and storage, and a gas-to-liquids plant. Downstream work covers refining crude into petroleum products, marketing crude, refined products and lubricants, making renewable fuels, moving crude and products by pipeline, marine vessel, road and rail, and making commodity petrochemicals, plastics for industrial use and fuel and lubricant additives. Activities reach North America, South America, Europe, Africa, Asia and Australia, all managed by a single Oil, Products and Gas organisation. There were 37,860 non-service-station employees at the end of 2025, 19,366 of them in the United States.

Upstream

Worldwide oil-equivalent production was 3.7 million barrels per day in 2025, about 12 percent above 2024, which the company attributes to the acquisition of Hess Corporation, completion of the Future Growth Project at Tengizchevroil in Kazakhstan, record production in the Permian Basin and the ramp-up in the Gulf of America, partly offset by asset sales in Canada and the Republic of Congo. United States production was 1,858 MBD of oil equivalent against 1,599 MBD in 2024. Guyana contributed 120 MBD in 2025 having contributed nothing in 2024, and Africa gave 229 MBD, of which Nigeria was 134. Proved reserves at the end of 2025 were about 10.6 billion barrels of oil-equivalent, eight percent higher than 2024, with 43 percent in the United States, 15 percent in Australia and 11 percent in Kazakhstan.

Refining

The refining network could process 1.8 million barrels per day at the end of 2025, across eight refineries counting affiliates. The five consolidated United States refineries carry operable capacity of 369 thousand barrels per day at Pascagoula in Mississippi, 290 at El Segundo in California, 257 at Richmond in California, 125 at Pasadena in Texas and 58 at Salt Lake City in Utah. Average crude unit distillation capacity utilisation was 92.9 percent in 2025 against 87.9 percent in 2024, and 94.5 percent at the United States refineries alone. Imported crude oil accounted for about 60 percent of United States refinery inputs in both 2025 and 2024. The expansion of the Pasadena refinery became fully operational in 2025, taking light crude oil throughput capacity to 125,000 barrels per day and letting the company process more of its own Permian Basin crude. Outside the United States it holds 60.6 percent of Star Petroleum Refining, which runs the Map Ta Phut refinery in Thailand at 175 thousand barrels per day, and 50 percent each of the Yeosu refinery in South Korea at 400 thousand and the Pulau Merlimau refinery in Singapore at 145 thousand.

Marketing and renewable fuels

Petroleum products are sold under the Chevron, Texaco and Caltex brands. At the end of 2025 the company supplied, directly or through retailers and marketers, about 8,600 Chevron- and Texaco-branded service stations in the United States, mainly in the southern and western states, of which about 380 are company-owned or company-leased, plus about 5,200 branded stations outside the United States, marketed as Chevron and Texaco in Latin America and Caltex across Asia-Pacific. It owns and operates 11 biofuel refineries in the United States and Germany, eight of them producing biodiesel, one renewable diesel and two idle through 2025. The Geismar renewable diesel plant in Louisiana began production in 2025 after an expansion from 7,000 to 22,000 barrels per day. A 50 percent working interest in Bunge Chevron Ag Renewables produces soybean oil at Destrehan in Louisiana and Cairo in Illinois, a feedstock for renewable diesel, biodiesel and sustainable aviation fuel.

Chemicals

Chevron Oronite develops, manufactures and markets performance additives for lubricating oils and fuels, and at the end of 2025 it manufactured, blended or conducted research at 11 locations around the world. Chevron also owns 50 percent of Chevron Phillips Chemical Company, which produces olefins, polyolefins and alpha olefins and supplies aromatics and polyethylene pipe, and which owned or held joint-venture interests in 29 manufacturing facilities and two research and development centres at the end of 2025.

From Chevron's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Chevron became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 5 November 2026
Revenue
$67.8 billion
+36.3% on the year · -3.2% on the quarter
Q4 FY2024Q3 FY2026
Net income
$9.9 billion
+180.4% on the year · -17.8% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$5.06
+178.0% on the year · -17.2% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 24 February 2026
Revenue
$189.0 billion
-6.8% on the year
FY2018FY2025
Net income
$12.3 billion
-30.4% on the year
FY2018FY2025
Diluted EPS
$6.63
-31.8% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsChevron (CVX) reported revenue of $189.0 billion for fiscal 2025, the year ended 31 December 2025, down 6.8% on the year before. Net income was $12.3 billion and diluted earnings per share $6.63. Revenue was $202.8 billion in fiscal 2024, $200.9 billion in fiscal 2023, $246.3 billion in fiscal 2022 and $162.5 billion in fiscal 2021. Net income in the same years was $17.7 billion, $21.4 billion, $35.5 billion and $15.6 billion. Over the twelve months to 30 September 2026, Chevron reported revenue of $233.3 billion and net income of $27.0 billion. Revenue grew 14.8% a year, compounded, over the five years to fiscal 2025. Chevron declared $7.05 a share in dividends over the last four quarters and had 1.97 billion shares outstanding at the latest filed count. At 30 September 2026 it carried $33.5 billion of debt and $13.9 billion of cash. At the close of 6 November 2026 the market cap of Chevron was $417.9 billion, 15.6 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE13.9%
ROCE17.1%
Operating margin16.7%
Net margin11.6%
FCF margin14.6%
Interest cover28.5x
Debt to equity0.17x
Cash conversion1.93x
Share count, last 12 months-2.4%
Sales CAGR, 3 years-8.4%
Profit CAGR, 3 years-29.7%
EPS, TTM$13.67

At the close of 6 November 2026

Price$212.65
Market cap$417.9 billion
Stock P/E15.6x
Price to book2.1x
EV / EBITDA7.0x
Dividend yield3.3%
Market cap / sales1.8x
52-week high$235.57
52-week low$146.75
Price, 1 year39.0%
Price CAGR, 3 years13.8%
Price CAGR, 5 years13.1%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Chevron Corp.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
CVXgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022 †Q2 FY2022 †Q3 FY2022 †Q4 FY2022 * †Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue48,12954,37368,76266,64456,47350,79348,89654,08047,18048,71651,18150,66952,22647,61044,82249,72646,87348,60770,05567,798
Cost of revenue27,34133,41140,68438,75132,57029,40728,98432,32828,47727,74130,86730,45030,14828,61026,85827,39825,34828,26536,60736,534
Gross profit20,78820,96228,07827,89323,90321,38619,91221,75218,70320,97520,31420,21922,07819,00017,96422,32821,52520,34233,44831,264
Gross margin43%39%41%42%42%42%41%40%40%43%40%40%42%40%40%45%46%42%48%46%
SG&A1,2719678631,0281,4548811,1281,1639691,0101,0481,1911,5851,2218891,5241,4921,0661,3141,227
Operating income6,9859,05416,00314,8099,8089,5197,8378,7383,4907,9227,0366,4896,0595,5834,1475,4144,5993,94616,68413,625
Operating margin15%17%23%22%17%19%16%16%7%16%14%13%12%12%9%11%10%8%24%20%
Interest expense155136129128123115120114120118113164199212274370361345352304
Pre-tax income6,9859,05416,00314,8099,8089,5197,8378,7383,4907,9227,0366,4896,0595,5834,1475,4144,5993,94616,68413,625
Tax rate27%31%27%24%35%31%23%25%36%30%37%31%46%37%39%33%38%42%27%26%
Net income5,0556,25911,62211,2316,3536,5746,0106,5262,2595,5014,4344,4873,2393,5002,4903,5392,7702,21012,0729,924
Net margin11%12%17%17%11%13%12%12%5%11%9%9%6%7%6%7%6%5%17%15%
Diluted EPS$2.63$3.22$5.95$5.78$3.33$3.46$3.20$3.48$1.22$2.97$2.43$2.48$1.84$2.00$1.45$1.82$1.39$1.11$6.11$5.06
Operating cash flow9,4588,05513,78215,26712,4987,2056,2979,67312,4346,8286,2959,6748,6955,1898,5769,38510,7892,51422,63316,014
Capital expenditure2,6061,9603,1842,9953,8353,0383,7574,6734,3614,0893,9664,0554,3383,9273,7124,4445,2644,0634,5384,011
Free cash flow6,8526,09510,59812,2728,6634,1672,5405,0008,0732,7392,3295,6194,3571,2624,8644,9415,525-1,54918,09512,003
Buybacks7501,2552,5003,7503,7503,7534,3753,3903,4212,9783,0014,7504,5003,9172,5982,5662,9982,5723,0032,502
Dividends paid2,5672,7462,7662,7432,7132,8572,8182,8522,8093,0032,9782,9332,8872,9842,9343,4293,4043,5263,5043,482
Shares outstanding1,948m1,965m1,957m1,934m1,907m1,894m1,867m1,888m1,857m1,847m1,829m1,797m1,761m1,746m1,728m2,014m1,995m1,992m1,976m1,965m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007FY2008 †FY2009FY2010FY2011FY2012FY2013FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue220,904273,005171,636204,928253,706241,909228,848211,970138,477114,472141,722166,339146,51694,692162,465246,252200,949202,792189,031233,333
Cost of revenuen/an/an/an/an/an/an/an/an/a59,32175,76594,57880,11352,14892,249145,416119,196119,206108,214126,754
Gross profitn/an/an/an/an/an/an/an/an/a55,15165,95771,76166,40342,54470,216100,83681,75383,58680,817106,579
Gross marginn/an/an/an/an/an/an/an/an/a48.2%46.5%43.1%45.3%44.9%43.2%40.9%40.7%41.2%42.8%45.7%
Research and developmentn/a702603526627648750707601476433453500435268268320353427n/a
Selling, general and administrative5,9265,7564,5274,7674,7454,7244,5104,4944,4434,3054,1103,8384,1434,2134,0144,3124,1414,8345,1265,099
Operating income32,27443,05718,52832,05547,63446,33235,90531,2024,842-2,1609,22120,5755,536-7,45321,63949,67429,58427,50619,74338,854
Operating margin14.6%15.8%10.8%15.6%18.8%19.2%15.7%14.7%3.5%-1.9%6.5%12.4%3.8%-7.9%13.3%20.2%14.7%13.6%10.4%16.7%
Interest expense1660.028.050.00.00.00.00.00.02013077487986977125164695941,2171,362
Pre-tax income32,27443,05718,52832,05547,63446,33235,90531,2024,842-2,1609,22120,5755,536-7,45321,63949,67429,58427,50619,74338,854
Income tax13,47919,0267,96512,91920,62619,99614,30811,892132-1,729-48.05,7152,691-1,8925,95014,0668,1739,7577,25811,454
Effective tax rate41.8%44.2%43.0%40.3%43.3%43.2%39.8%38.1%2.7%n/a-0.5%27.8%48.6%n/a27.5%28.3%27.6%35.5%36.8%29.5%
Net income18,68823,93110,48319,02426,89526,17921,42319,2414,587-4979,19514,8242,924-5,54315,62535,46521,36917,66112,29926,976
Net margin8.5%8.8%6.1%9.3%10.6%10.8%9.4%9.1%3.3%-0.4%6.5%8.9%2.0%-5.9%9.6%14.4%10.6%8.7%6.5%11.6%
Diluted EPS$8.77$11.67$5.24$9.48$13.44$13.32$11.09$10.14$2.45-$0.27$4.85$7.74$1.54-$2.96$8.14$18.28$11.36$9.72$6.63$13.67
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
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. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2022 to FY2025

FY2022FY2023FY2024FY2025Share
of the parts, latest year
Reportable Segment, Aggregation before Other Operating Segment246,086200,643202,142188,38799.7%
All Other1663066506440.3%
Reportable Segment, Aggregation before Other Operating SegmentAll Other
246.3FY2022200.9FY2023202.8FY2024189.0FY2025

$ billion; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Profit by segment FY2022 to FY2025

The net income each segment reports. Costs Chevron does not charge to a segment are left out, so the segments can add up to more than the company's own net income.

FY2022FY2023FY2024FY2025Margin
FY2025
Reportable Segment, Aggregation before Other Operating Segment38,43923,57520,32915,8448.4%
All Other-2,974-2,206-2,668-3,545n/a
Reportable Segment, Aggregation before Other Operating SegmentAll Other
35.5FY202221.4FY202317.7FY202412.3FY2025

$ billion; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Reportable Segment, Aggregation before Other Operating Segment100%100%
All Otherunder 1%a loss

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has a net income figure. A margin is a segment's net income over its own sales.

Cash flow

FY2007FY2008 †FY2009FY2010FY2011FY2012FY2013FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow24,97729,63219,37331,35941,09838,81235,00231,47519,45612,69020,33830,61827,31410,57729,18749,60235,60931,49233,93951,950
Capital expenditure16,67819,66619,84319,61226,50030,93837,98535,40729,50418,10913,40413,79214,1168,9228,05611,97415,82916,44817,34717,876
Free cash flow8,2999,966-47011,74714,5987,874-2,983-3,932-10,048-5,4196,93416,82613,1981,65521,13137,62819,78015,04416,59234,074
Free cash flow margin3.8%3.7%-0.3%5.7%5.8%3.3%-1.3%-1.9%-7.3%-4.7%4.9%10.1%9.0%1.7%13.0%15.3%9.8%7.4%8.8%14.6%
Cash from investing-13,933-17,081-16,572-20,915-27,489-24,796-35,609-29,893-23,808-16,370-8,320-12,290-11,458-6,965-5,865-12,108-15,232-8,936-15,911-14,505
Cash from financing-14,295-10,400-3,546-5,170-11,772-8,980-3,821-4,9992,81525.0-14,554-13,699-19,758-3,736-23,113-24,978-30,109-23,472-19,063-32,303
Depreciation and amortisation8,7089,52812,11013,06312,91113,41314,18616,79321,03719,45719,34919,41929,21819,50817,92516,31917,32617,28220,13224,046
Buybacksn/an/an/a7754,2625,0045,0045,0062.02.01.01,7514,0391,7571,38311,25514,93915,22912,07911,075
Dividends paid4,7915,1625,3025,6746,1396,8447,4747,9287,9928,0328,1328,5028,9599,65110,17910,96811,33611,80112,75113,916
Dividend per sharen/an/an/an/an/an/an/an/an/an/an/an/a$4.76$5.16$5.31$5.68$6.04$6.52$6.84n/a
Diluted shares, weightedn/a2,050m2,001m2,007m2,001m1,965m1,932m1,898m1,875m1,873m1,898m1,914m1,895m1,870m1,920m1,940m1,880m1,817m1,856m1,963m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a1,965m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007FY2008 †FY2009FY2010FY2011FY2012FY2013FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity77,08886,64891,914105,081121,382136,524149,113155,028152,716145,556148,124154,554144,213131,688139,067159,282160,957152,318186,450194,327
Non-controlling interest2044696477307991,3081,3141,1631,1701,1661,1951,0889951,0388739609728395,7265,650
Redeemable equityn/an/an/an/an/an/an/an/an/an/an/an/an/a1201351421660.0n/an/a
Short-term borrowingsn/a2,818384n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Debtn/a5,7425,70511,19010,02412,09320,33427,75038,46946,03338,76334,45926,97344,31531,36923,33920,83624,54140,75833,534
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a2,6082,6152,5082,9203,6963,5514,154n/a
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a282447449403574546659n/a
Other liabilitiesn/a65,48865,97167,76877,26983,05782,99282,08572,18567,32365,72463,76262,35759,56765,13470,66374,43175,14386,265100,275
Total liabilities and equityn/a161,165164,621184,769209,474232,982253,753266,026264,540260,078253,806253,863237,428239,790239,535257,709261,632256,938324,012333,786
Owned
Fixed assetsn/a91,78096,468104,504122,608141,348164,829183,173188,396182,186177,712169,207150,494156,618146,961143,591n/an/an/an/a
Goodwilln/a4,6194,6184,6174,6424,6404,6394,5934,5884,5814,5314,5184,4634,4024,3854,7224,7224,5784,5684,568
Investmentsn/a21310615524926626342231013.09.053.063.031.035.022345.00.00.0n/a
Cash and equivalents7,3629,3478,71614,06015,86420,93916,24512,78511,0226,9884,8139,3426,9115,5965,64017,6788,1788,2627,28513,919
Receivablesn/an/an/an/an/an/an/an/an/an/an/an/an/a9,50016,40018,20017,64018,33815,98623,400
Inventoryn/a6,8545,5295,4935,5436,1446,3806,5056,3345,4195,5855,7045,8485,6766,7958,2478,6129,0749,71111,393
Other assetsn/a48,35249,18455,94060,56859,64561,39758,54853,89060,89161,15665,03969,64957,96759,31965,048222,435216,686286,462280,506
Total assetsn/a161,165164,621184,769209,474232,982253,753266,026264,540260,078253,806253,863237,428239,790239,535257,709261,632256,938324,012333,786
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded3.2%14.8%-8.4%20.0%
Profit growth, compounded10.4%n/a-29.7%111.3%
Return on equity, average7.8%13.0%10.5%6.6%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Chevron's revenue in fiscal 2025?

Chevron (CVX) reported revenue of $189.0 billion for fiscal 2025, the year ended 31 December 2025, down 6.8% on the year before.

How much did Chevron earn in fiscal 2025?

Net income was $12.3 billion for fiscal 2025, and diluted earnings per share $6.63.

What is Chevron's P/E ratio?

At the close of 6 November 2026, Chevron traded at 15.6 times its earnings over the twelve months to 30 September 2026.

What is Chevron's market cap?

The market cap of Chevron was $417.9 billion at the close of 6 November 2026.

Does Chevron pay a dividend?

Yes. Chevron declared $7.05 a share in dividends over the four quarters to 30 September 2026.

Peers: Petroleum and Natural Gas

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
ExxonMobil Holdings Corp. XOM$676.6 billion17.0315.3%14.0%19.0%0.132.5%
Chevron Corp. CVX$417.9 billion15.5613.9%16.7%20.0%0.173.3%
ConocoPhillips COP$161.2 billion14.3217.5%n/a13.3%0.352.5%
BP plc BP *$122.4 billionn/a0.1%6.6%-1.1%1.094.1%
Equinor ASA EQNR *$105.0 billion21.6412.5%23.8%2.6%0.690.3%
Marathon Petroleum Corp. MPC$101.5 billion7.2863.0%12.5%31.2%1.421.1%
Valero Energy Corp. VLO$96.6 billion7.7946.3%11.5%24.6%0.391.4%
Phillips 66 PSX$95.8 billion7.8536.6%n/a27.5%0.542.0%
Suncor Energy Inc. SU *$82.0 billion19.7813.1%n/a-4.6%0.222.5%
Imperial Oil Ltd. IMO$59.0 billion9.9424.8%14.2%15.7%0.142.3%
PBF Energy Inc. PBF$8.2 billion3.0034.1%9.8%31.5%0.271.6%
Delek US Holdings, Inc. DK$3.9 billion3.4070.8%13.3%27.1%2.031.6%
All 98 in Petroleum and Natural Gas
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
ExxonMobil Holdings Corp. XOM$676.6 billion17.0315.3%14.0%19.0%0.132.5%
Chevron Corp. CVX$417.9 billion15.5613.9%16.7%20.0%0.173.3%
Shell plc SHEL *$281.9 billion16.5210.2%n/a-6.1%0.433.0%
TotalEnergies SE TTE *$193.8 billion15.2011.4%n/a-6.2%0.534.2%
ConocoPhillips COP$161.2 billion14.3217.5%n/a13.3%0.352.5%
BP plc BP *$122.4 billionn/a0.1%6.6%-1.1%1.094.1%
Petróleo Brasileiro S.A. (Petrobras) PBR *$119.3 billion6.0926.0%29.3%-2.4%0.356.8%
Equinor ASA EQNR *$105.0 billion21.6412.5%23.8%2.6%0.690.3%
Marathon Petroleum Corp. MPC$101.5 billion7.2863.0%12.5%31.2%1.421.1%
Canadian Natural Resources Limited CNQ *$101.0 billion13.1324.4%n/a8.7%0.373.5%
Valero Energy Corp. VLO$96.6 billion7.7946.3%11.5%24.6%0.391.4%
Phillips 66 PSX$95.8 billion7.8536.6%n/a27.5%0.542.0%
Suncor Energy Inc. SU *$82.0 billion19.7813.1%n/a-4.6%0.222.5%
Eni S.p.A. E *$82.0 billion31.825.4%6.1%-7.5%0.594.2%
EOG Resources Inc. EOG$76.3 billion9.5124.7%35.8%31.7%0.242.8%
SLB Limited SLB$73.7 billion24.2311.9%n/a4.6%0.492.3%
Imperial Oil Ltd. IMO$59.0 billion9.9424.8%14.2%15.7%0.142.3%
Occidental Petroleum Corp. OXY$56.4 billionn/an/an/an/a0.311.8%
Diamondback Energy, Inc. FANG$50.0 billion24.485.3%12.6%21.1%0.342.4%
Devon Energy Corp. DVN$48.1 billion10.558.6%16.2%27.1%0.252.7%
Woodside Energy Group Ltd. WDS *$40.0 billion14.817.6%30.0%-1.5%0.335.0%
EQT Corp. EQT$30.9 billion11.7110.4%41.8%18.6%0.221.3%
Halliburton Co. HAL$26.3 billion13.3218.0%12.6%1.5%0.642.1%
Expand Energy Corp. EXE$19.5 billion7.3314.1%25.7%28.2%0.242.7%
Permian Resources Corp. PR$18.3 billion11.3613.0%40.1%22.8%0.252.8%
Ovintiv Inc. OVV$16.4 billion12.2011.4%15.1%15.0%0.312.0%
APA Corp. APA$15.0 billion7.2430.2%46.4%-3.5%0.462.2%
Viper Energy, Inc. VNOM$14.7 billion29.655.4%36.2%n/a0.476.0%
Range Resources Corp. RRC$11.4 billion12.9218.3%32.4%20.8%0.160.8%
Antero Resources Corp. AR$11.1 billion8.1415.9%27.6%28.7%0.32n/a
PBF Energy Inc. PBF$8.2 billion3.0034.1%9.8%31.5%0.271.6%
Chord Energy Corp. CHRD$7.3 billion8.5510.9%22.8%30.1%0.183.8%
SM Energy Co. SM$7.0 billion7.2612.1%23.6%107.6%0.852.9%
Noble Corp. plc NE$6.5 billion123.881.3%12.0%-13.0%0.444.9%
Magnolia Oil & Gas Corp. MGY$6.3 billion10.6110.1%36.9%26.3%0.462.8%
Matador Resources Co. MTDR$6.2 billion8.6911.9%31.6%1.3%0.823.0%
Transocean Ltd. RIG$5.8 billion37.363.5%20.4%3.9%0.59n/a
Valaris Ltd. VAL$5.5 billion7.0024.4%9.0%-11.6%0.33n/a
Murphy Oil Corp. MUR$5.2 billion11.218.7%25.7%13.7%0.293.8%
CNX Resources Corp. CNX$5.0 billion5.9218.9%42.7%47.0%0.470.0%
Crescent Energy Co. CRGY$4.7 billionn/a1.2%27.8%33.5%0.924.3%
Valvoline Inc. VVV$4.4 billion43.4824.4%15.3%16.1%3.84n/a
California Resources Corp. CRC$4.1 billionn/a-16.5%-20.3%-23.8%0.423.5%
Comstock Resources Inc. CRK$3.9 billion9.1816.1%28.4%17.5%1.290.0%
Delek US Holdings, Inc. DK$3.9 billion3.4070.8%13.3%27.1%2.031.6%
Hess Midstream LP HESM$3.8 billion10.26n/a62.7%-0.6%n/an/a
CVR Energy Inc. CVI$3.8 billion14.5024.4%5.7%34.4%1.63n/a
Patterson-UTI Energy, Inc. PTEN$3.8 billionn/a-0.8%0.9%0.0%0.403.8%
Icahn Enterprises L.P. IEP$3.6 billionn/an/a-9.9%16.0%n/an/a
Helmerich & Payne, Inc. HP$3.5 billionn/a-5.1%2.3%16.6%0.700.7%
Calumet, Inc. CLMT$3.5 billionn/an/a3.4%28.4%n/an/a
Par Pacific Holdings, Inc. PARR$3.4 billion3.5940.7%13.2%29.1%0.21n/a
Oceaneering International Inc. OII$3.4 billion10.4427.1%10.4%3.0%0.40n/a
WaterBridge Infrastructure LLC WBI$3.1 billion179.561.3%15.5%n/a2.37n/a
Gulfport Energy Corp. GPOR$2.6 billion5.7725.5%44.3%20.3%0.56n/a
Seadrill Ltd. SDRL$2.6 billionn/a-0.6%8.6%17.1%0.26n/a
Quaker Chemical Corp. KWR$2.6 billion26.836.9%7.6%8.7%0.631.4%
Talos Energy Inc. TALO$2.5 billionn/a-20.2%-0.4%13.5%0.72n/a
Northern Oil & Gas, Inc. NOG$2.4 billionn/a-25.7%-24.2%-28.3%1.437.9%
Select Water Solutions, Inc. WTTR$2.2 billion57.863.0%3.5%-2.0%0.25n/a
National Energy Services Reunited Corp. NESR$2.0 billionn/an/an/an/a0.26n/a
Liberty Energy Inc. LBRT$2.0 billion49.812.1%1.7%13.6%0.673.0%
BKV Corp. BKV$1.9 billion8.319.8%28.1%34.2%0.89n/a
Mach Natural Resources LP MNR$1.5 billion10.02n/a17.9%36.7%n/an/a
Dorchester Minerals, L.P. DMLP$1.4 billion13.27n/a49.8%38.2%n/an/a
Kosmos Energy Ltd. KOS$1.3 billionn/a-68.9%-21.9%20.9%3.87n/a
Nabors Industries Ltd. NBR$1.2 billionn/a-6.8%14.0%4.8%3.57n/a
RPC Inc. RES$1.2 billionn/a-3.0%-2.2%17.8%0.033.0%
Tamboran Resources Corp. TBN$1.0 billionn/a-3.3%n/an/a0.07n/a
Riley Exploration Permian, Inc. REPX$911 million8.8816.0%45.6%45.5%0.383.9%
HighPeak Energy, Inc. HPK$903 millionn/an/an/an/a0.772.2%
Diversified Energy Co. DEC$898 million15.8811.0%14.7%n/a4.299.1%
Tetra Technologies Inc. TTI$889 million99.832.1%6.9%6.1%0.46n/a
Infinity Natural Resources, Inc. INR$811 million4.9615.1%40.9%75.4%1.35n/a
ProPetro Holding Corp. PUMP$785 millionn/a0.2%0.5%-6.0%0.86n/a
Hornbeck Offshore Services, Inc. HOS$783 million19.672.5%5.6%2.0%0.19n/a
TXO Partners, L.P. TXO$729 millionn/an/a-23.7%-1.2%n/an/a
Granite Ridge Resources, Inc. GRNT$698 millionn/a-9.7%13.7%24.2%0.858.3%
Atlas Energy Solutions Inc. AESI$676 millionn/a-13.0%-10.2%-3.7%0.9213.9%
Vitesse Energy, Inc. VTS$622 millionn/a-8.1%12.0%10.6%0.3312.7%
Vaalco Energy Inc. EGY$565 millionn/a-28.6%-10.4%-25.5%0.474.7%
ProFrac Holding Corp. ACDC$546 millionn/a-76.9%-12.0%-3.3%2.01n/a
W&T Offshore Inc. WTI$477 millionn/an/a5.0%20.3%n/a1.3%
Sandridge Energy Inc. SD$464 million4.7517.1%38.4%24.9%0.004.6%
Core Laboratories Inc. CLB$404 million22.645.6%7.5%-0.1%0.410.5%
Natural Gas Services Group Inc. NGS$357 million17.177.0%21.6%15.4%1.111.7%
Gran Tierra Energy Inc. GTE$334 millionn/a-308.1%-54.4%6.2%6.53n/a
Sable Offshore Corp. SOC$298 millionn/a-109.8%-292.8%n/a2.45n/a
Ranger Energy Services, Inc. RNGR$293 million20.884.7%3.7%6.1%0.050.5%
Ring Energy, Inc. REI$287 millionn/a-25.1%-20.5%7.4%0.47n/a
Pedevco Corp. PED$198 millionn/an/a14.0%229.4%0.00n/a
Epsilon Energy Ltd. EPSN$157 millionn/a-2.7%1.0%53.7%0.31n/a
Mammoth Energy Services, Inc. TUSK$150 million10.765.1%-10.6%-10.4%0.00n/a
Amplify Energy Corp. AMPY$138 million7.425.2%19.9%-23.7%0.00n/a
Evolution Petroleum Corp. EPM$125 millionn/a-4.0%4.0%0.6%0.9413.8%
Nine Energy Service, Inc. NINE$104 millionn/a52.4%-4.0%-7.2%0.76n/a
Empire Petroleum Corp. EP$103 millionn/a-974.5%-224.1%-20.8%2.07n/a
BIG SKY Industrial Inc. BSIN$71 millionn/a-28.8%-153.7%-48.7%0.12n/a
14 companies share its SEC industry code (Petroleum Refining); the rest are the names nearest in size in its wider industry, Petroleum and Natural Gas, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on CVX

Dividends$7.05 a share over the four quarters to 30 September 2026, a 3.32% yield
Filings28 in twelve months: 15 current reports (8-K), about 5 results of operations; 5 officer or director change; 3 other events; 2 charter or bylaw amendment, or fiscal year change; 1 regulation FD disclosure
Planned insider sales40 Form 144 notices in twelve months, $634.9 million; latest 2 November 2026
Options tapeput/call 0.76 by open interest at the 6 November 2026 close; the straddle prices a 3.7% move to 13 November 2026
13F holders4,155 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading81 sales and 0 purchases on Form 4 in twelve months
Congress6 House trades disclosed in six months
Short interest25.7 million shares short, 3.68 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20265 November 2026EDGAR
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202524 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20258 May 2025EDGAR
10-K31 December 202421 February 2025EDGAR
10-Q30 September 20247 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR

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