Chevron
CVX NYSE· Integrated Oil & Gas
Last close · Oct 26, 2026
$232.01
KIRA · Stoqly’s AI analyst, in plain words
- Chevron had $189.0B of revenue in fiscal 2025, down 6.8% on the year before. Over five years, revenue changed +14.8% a year on average.
- Chevron made $12.3B of net profit in fiscal 2025.
- Free cash flow was $16.6B in fiscal 2025, 8.8% of revenue.
- Chevron returned $24.8B to shareholders in fiscal 2025, 150% of free cash flow. The diluted share count rose 2.2%.
- Chevron owes $33.5B more than it holds in cash, about 0.8 years of operating profit.
Market cap
$458.2B
P/E
22.3x
Revenue
$189.0B
Net income
$12.3B
Free cash flow
$16.6B
Operating margin
—
Chevron in 30 seconds · fiscal 2025
Are sales growing?
−6.8%
No. Sales fell 6.8% last year.
Does it make a profit?
6.5%
A little. It keeps 6.5% of every sale as profit.
Does profit turn into cash?
8.8%
Partly. 8.8% of sales ends up as free cash.
Is debt under control?
0.8x
Yes. It could repay its debt with 0.8 years of operating profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
22.3x
One share costs 22.3 times its yearly profit per share. Typical for its sector: 16.9x.
What Chevron does
Chevron is an oil and gas company. It finds and pumps crude oil and natural gas, turns gas into liquefied natural gas (LNG) for shipping, and moves oil and gas through pipelines. It also refines crude oil into gasoline, diesel, jet fuel and lubricants, sells fuel through Chevron, Texaco and Caltex service stations, and makes petrochemicals, plastics and fuel additives. It works across North America, South America, Europe, Africa, Asia and Australia. Its business has two parts. Upstream, the oil and gas production side, is where most of its earnings come from, so its results rise and fall with oil and gas prices. In 2025 it and its affiliates produced the equivalent of 3.7 million barrels of oil a day. Downstream, the refining and selling side, can process 1.8 million barrels a day, and about 8,600 branded stations in the US and 5,200 abroad sell its fuel. Chevron competes with other large oil companies, independent producers and refiners, and state-owned oil companies.
Biggest risks, in its own words
- Long periods of low oil and gas prices or weak demand, which drive most of its earnings.
- Failing to replace the oil and gas it pumps with new reserves, which would shrink its business.
- The Hess acquisition may not bring the benefits it expects or may disrupt its plans.
- Political instability and sudden changes in laws and taxes in the countries where it operates.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Legal name
- Chevron Corp
- CIK
- 0000093410
Chevron · CVX
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $162.5B | $246.3B | $200.9B | $202.8B | $189.0B |
| Revenue growth | 71.6% | 51.6% | −18.4% | 0.9% | −6.8% |
| Gross margin | 43.2% | 41.0% | 40.7% | 41.2% | 42.8% |
| Net income | $15.6B | $35.5B | $21.4B | $17.7B | $12.3B |
| Net margin | 9.6% | 14.4% | 10.6% | 8.7% | 6.5% |
| Diluted EPS | $8.14 | $18.28 | $11.36 | $9.72 | $6.63 |
| Cash | |||||
| Cash from operations | $29.2B | $49.6B | $35.6B | $31.5B | $33.9B |
| Capital expenditure | $8.1B | $12.0B | $15.8B | $16.4B | $17.3B |
| Free cash flow | $21.1B | $37.6B | $19.8B | $15.0B | $16.6B |
| FCF margin | 13.0% | 15.3% | 9.8% | 7.4% | 8.8% |
| Dividends paid | $10.2B | $11.0B | $11.3B | $11.8B | $12.8B |
| Share buybacks | $1.4B | $11.3B | $14.9B | $15.2B | $12.1B |
| Share count change | 2.7% | 1.0% | −3.1% | −3.4% | 2.2% |
| Debt and strength | |||||
| Cash and short-term investments | $5.7B | $17.9B | $8.2B | $8.3B | $7.3B |
| Debt incl. finance leases | $26.4B | $23.3B | $20.8B | $24.5B | $40.8B |
| Shareholders' equity | $139.1B | $159.3B | $161.0B | $152.3B | $186.5B |
| Net debt / EBITDA | 0.5x | 0.1x | 0.3x | 0.4x | 0.8x |
| Current ratio | 1.3x | 1.5x | 1.3x | 1.1x | 1.2x |
| Interest coverage | 31.4x | 97.3x | 64.1x | 47.3x | 17.2x |
| Returns and quality | |||||
| Return on capital | 10.3% | 22.1% | 12.8% | 10.5% | 6.7% |
| Return on equity | 11.5% | 23.8% | 13.4% | 11.3% | 7.3% |
| Piotroski F-score | 7 | 7 | 5 | 5 | 5 |
| Altman Z'' | 4.6 | 5.9 | 5.2 | 5.0 | 4.1 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$647M
9 insiders
Of sales under plans
28%
$179M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Chevron · CVX
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Chevron CVX | $458.2B | −6.8% | — | 8.8% | 6.7% | 22.3x | 5 |
| ExxonMobil XOM | $770.3B | −5.0% | — | 7.1% | 10.3% | 23.7x | 4 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $232.01 a share, the company is worth $458.2B: 22.3 times its earnings of the last four quarters.
Chevron grew sales faster than 0 of its 1 similar companies. Its P/E is higher than 0 of 1.
Source: SEC EDGAR XBRL filings (CIK 0000093410). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.