Chevron Corporation
CVX Energy Oil & Gas Integrated
Chevron Corporation’s revenue for fiscal 2025 (year ended December 2025) was $189.0 billion, down 6.79% from fiscal 2024. In the quarter to June 2026, revenue grew 56.3%, EPS grew 322.8%, free cash flow grew 272.0% and total debt rose 25.8%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for ten consecutive years.
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Chevron Corporation (CVX) Gross margin
Chevron Corporation's gross margin over the twelve months to 30 June 2026 was 42.9%, up 3.0 percentage points from fiscal 2025 (40.0%). Over the past ten years it has ranged from 37.8% (fiscal 2017) to 42.5% (fiscal 2019); the current reading is higher than 55% of that period. That is above the Oil & Gas Integrated industry median of 39.2% and below the Energy sector median of 49.5%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 40.0% | 1.10 |
| FY2024 | 38.9% | 0.31 |
| FY2023 | 38.6% | (0.73) |
| FY2022 | 39.3% | (1.47) |
| FY2021 | 40.8% | (1.15) |
| FY2020 | 41.9% | (0.57) |
| FY2019 | 42.5% | 2.28 |
| FY2018 | 40.2% | 2.38 |
| FY2017 | 37.8% | (0.15) |
| FY2016 | 38.0% | (2.95) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jun 2026 | 46.0% | 6.86 |
| Mar 2026 | 39.2% | (3.94) |
| Dec 2025 | 43.1% | 0.90 |
| Sep 2025 | 42.2% | 5.01 |
| 42 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| EQNR Equinor ASA compare | 51.2% |
| PBR Petroleo Brasileiro S.A.- Petrobras compare | 50.8% |
| PBR.A Petroleo Brasileiro S.A.- Petrobras compare | 50.8% |
| CVX Chevron Corporation | 42.9% |
| TTE TotalEnergies SE Sponsored ADR compare | 37.7% |
| BP BP p.l.c. compare | 29.2% |
| SHEL Shell PLC Unsponsored ADR compare | 27.6% |
| XOM ExxonMobil Holdings Corporation compare | 23.9% |
| E Eni SpA compare | 19.3% |
| Oil & Gas Integrated industry median | 39.2% |
| Energy sector median | 49.5% |
| Market median | 46.2% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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