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CVXChevron Corporation
$173.94$346.4B
Overview & Verdict
OverviewShould I Buy?
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
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Income StatementBalance SheetCash FlowRatios & Margins
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CVX logoChevron Corporation(CVX)Earnings, Financials & Key Ratios

CVX•NYSE
$173.94
26.2× P/E·Price updated Jul 7, 2026
SectorEnergyIndustryIntegrated Oil & GasSub-IndustryGlobal and national integrated oil companies
AboutChevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels; transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.Show more
  • Revenue$184.43B-4.6%
  • EBITDA$37.13B-20.7%
  • Net Income$12.3B-30.4%
  • EPS (Diluted)6.63-31.8%
  • Gross Margin30.41%+3.3%
  • EBITDA Margin20.13%-16.8%
  • Operating Margin9.04%-39.9%
  • Net Margin6.67%-27.0%
  • ROE7.12%-36.5%

CVX Price & Volume

Chevron Corporation (CVX) stock price & volume — 10-year historical chart

Loading chart...

Margin Compression Challenges Chevron's Capital Intensive Strategy

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Contracting
Profitability:Strained
Financial:Healthy
Cash Flow:Deteriorating
Primary Risk:Commodity price volatility exposure

Key Thesis Takeaways

  • Chevron faces a challenging outlook as its aggressive capital expenditure strategy, evidenced by a massive increase in net PPE to $438.9B, struggles to generate sufficient returns amidst volatile commodity price realizations.
  • The firm's reliance on external financing to fund operations and dividends, reflected in a debt-to-equity ratio of 0.24, warrants caution regarding long-term balance sheet flexibility.
  • Investors should monitor whether the company can stabilize its contracting 9.6% gross margin and reverse the recent negative free cash flow trend to support its current 4.0% dividend yield.

Verdict Logic

the company's inability to maintain positive free cash flow, which reached -$1.5B in 2026Q1, suggests that current dividend payouts may be increasingly reliant on debt financing rather than operational earnings.

CVX Growth Metrics

Chevron Corporation (CVX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years3.57%
5 Years14.32%
3 Years-7.85%
TTM-3.65%

Profit CAGR

10 Years10.37%
5 Years-
3 Years-29.74%
TTM-29.7%

EPS CAGR

10 Years10.47%
5 Years-
3 Years-28.69%
TTM-34.06%

Return on Capital

10 Years6.25%
5 Years12.05%
3 Years11.49%
Last Year6.55%

CVX Recent Earnings

Chevron Corporation (CVX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 1, 2026
Metric
Actual
Est
EPS
$1.41+41.0%
$1.00
Rev
$48.6B-6.3%
$51.9B
Q1 2026
Jan 30, 2026
Metric
Actual
Est
EPS
$1.52+7.8%
$1.41
Rev
$46.9B+0.2%
$46.8B
Q4 2025
Oct 31, 2025
Metric
Actual
Est
EPS
$1.85+9.5%
$1.69
Rev
$48.2B-1.6%
$48.9B
Q3 2025
Aug 1, 2025
Metric
Actual
Est
EPS
$1.77+2.3%
$1.73
Rev
$44.4B+1.2%
$43.9B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 1, 2026
$1.41vs $1.00+41.0%
$48.6Bvs $51.9B-6.3%
Q1 2026Jan 30, 2026
$1.52vs $1.41+7.8%
$46.9Bvs $46.8B+0.2%
Q4 2025Oct 31, 2025
$1.85vs $1.69+9.5%
$48.2Bvs $48.9B-1.6%
Q3 2025Aug 1, 2025
$1.77vs $1.73+2.3%
$44.4Bvs $43.9B+1.2%
Based on last 12 quarters of dataView full earnings history →

Latest CVX News

Recent stock market news and headlines for Chevron Corporation (CVX)

24/7 Wall Street·13h ago
Oil's $100 Threshold: What It Means for Energy Stocks Now

With oil now trading well below the $100 level (and seemingly poised to continue heading lower, after OPEC announced further production increases recently and recessionary concerns pick up), it's unclear where certain oil stocks are headed.

Fool - Investing News·1 day ago
2 Energy Stocks to Load Up on in the Second Half of 2026

Energy prices have come down after a spike, here's two ways to play the sector now.

24/7 Wall Street·2 days ago
3 Energy Stocks to Buy in July

Energy stocks just gave investors a buying window. After WTI crude spiked to $114.58 per barrel on April 7, on the Strait of Hormuz disruption, prices have cooled to $78.94 per barrel as of June 22, dragging the three integrated majors down with them.

The Motley Fool·3 days ago
Chevron vs. Exxon Mobil: Which Energy Stock Is a Better Buy in 2026?

Chevron is focusing on U.S. shale and new energy demand from the technology sector. Exxon Mobil is leveraging its massive global scale to lead in carbon capture and storage.

New York Post·4 days ago
Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

President Trump is ramping up pressure on the industry to lower gas prices ahead of November's midterm elections.

Peers Comparison

Key metrics vs top competitors for Chevron Corporation (CVX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CVX logoCVXChevron CorporationCurrent
$173.94$346.42B26.24-4.64%6.67%7.12%3.95%
XOM logoXOMExxon Mobil Corporation
$141.65$587.11B21.14-4.52%7.76%9.5%—
BP logoBPBP p.l.c.
$38.61$100.79B1892.650.08%1.65%4.16%—
SHEL logoSHELShell plc
$81.99$231.14B13.62-6.13%7.01%10.53%—
TTE logoTTETotalEnergies SE
$77.96$173.62B13.49-6.78%8.19%12.56%—
COP logoCOPConocoPhillips
$108.44$132.17B17.087.51%12.56%11.29%—

Compare CVX vs Peers

Chevron Corporation (CVX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs XOM

Most directly comparable listed peer for CVX.

Scale Benchmark

vs SHEL

Larger-name benchmark to compare CVX against a more recognizable public peer.

Peer Set

Compare Top 5

vs XOM, BP, SHEL, TTE

CVX SEC Filings & Documents

Chevron Corporation (CVX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 29, 2026·SEC

Material company update

May 29, 2026·SEC

Material company update

Apr 9, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 21, 2025·SEC

10-Q Quarterly Reports

5
FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

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CVX Frequently Asked Questions

Chevron Corporation (CVX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Chevron Corporation's revenue?

Chevron Corporation (CVX) reported $185.89B in revenue for fiscal year 2025. This represents a 324% increase from $43.89B in 1996.

How fast is Chevron Corporation growing?

Chevron Corporation (CVX) saw revenue decline by 4.6% over the past year.

Is CVX profitable?

Yes, Chevron Corporation (CVX) is profitable, generating $11.01B in net income for fiscal year 2025 (6.7% net margin).

Dividend & Returns
Does CVX pay dividends?

Yes, Chevron Corporation (CVX) pays a dividend with a yield of 3.95%. This makes it attractive for income-focused investors.

What is CVX's return on equity?

Chevron Corporation (CVX) has a return on equity (ROE) of 7.1%. This is below average, suggesting room for improvement.

What is Chevron Corporation's free cash flow?

Chevron Corporation (CVX) generated $13.37B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CVX back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →