Chevron vs ExxonMobil
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put Chevron and ExxonMobil side by side, using each one’s latest annual report. Here is what stands out:
- ExxonMobil is the larger business, with $332.2B of revenue in fiscal 2025 against $189.0B for Chevron, about 1.8 times as much.
- ExxonMobil grew revenue faster (−5.0%, against −6.8%).
- Chevron turned more of its sales into free cash flow (8.8% FCF margin, against 7.1%).
- ExxonMobil earned a higher return on the capital invested in it (10.3%, against 6.7%).
- Investors pay more for each dollar of ExxonMobil’s earnings: a P/E of 23.7x against 22.3x for Chevron.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Chevron
CVX
3/9
5-year growthFCF marginPiotroski F-score
ExxonMobil
XOM
6/9
Revenue growthNet marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | CVX FY25 | XOM FY25 |
|---|---|---|
| Size | ||
| Market cap | $458.2B | $770.3B |
| Revenue | $189.0B | $332.2B |
| Free cash flow | $16.6B | $23.6B |
| Net income | $12.3B | $28.8B |
| Growth | ||
| Revenue growth | −6.8% | −5.0% |
| 5-year growth | 14.8% | 12.9% |
| Share count change | 2.2% | 0.2% |
| Profitability | ||
| Gross margin | 42.8% | — |
| Operating margin | — | — |
| Net margin | 6.5% | 8.7% |
| FCF margin | 8.8% | 7.1% |
| Return on capital | 6.7% | 10.3% |
| Return on equity | 7.3% | 11.0% |
| Balance sheet | ||
| Net debt | $33.5B | $32.8B |
| Net debt / EBITDA | 0.8x | 0.5x |
| Dividends and buybacks | $24.8B | $37.5B |
| Valuation & quality | ||
| P/E | 22.3x | 23.7x |
| Piotroski F-score | 5 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.