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Friday 6 November 2026 Export CVX’s income statement to Excel — free account

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.

Revenue
+36.3%
EPS
+180.6%
Free cash flow
+142.9%
Total debt
+25.8%

Quarter to September 2026, against a year earlier

213.51 3.45 −1.59%
Market cap
$415.4B
P/E
15.5×
Fwd P/E
13.3×
Dividend yield
3.30%
F-score
5/9
Altman Z
2.99
Beneish M
−3.01
Dividend safety
42/100
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Chevron Corporation (CVX) Gross margin

Alert me on Gross margin

Chevron Corporation's gross margin over the twelve months to 30 September 2026 was 43.5%, up 3.5 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 39.9% and in line with the Energy sector median of 42.1%.

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)
Sep 2026 44.2% (1.83)
Jun 2026 46.0% 6.86
Mar 2026 39.2% (3.94)
Dec 2025 43.1% 0.90
43 more quarters

Against its own ten years

Low 37.8% High 42.5%
Ten-year median 40.0%
Current reading's percentile 98

Gross margin against peers

Company Gross margin
EQNR Equinor ASA compare 53.6%
PBR Petroleo Brasileiro S.A.- Petrobras compare 50.8%
CVX Chevron Corporation 43.5%
CVE Cenovus Energy Inc compare 40.7%
TTE TotalEnergies SE Sponsored ADR compare 39.2%
BP BP p.l.c. compare 30.5%
SHEL Shell PLC Unsponsored ADR compare 28.2%
XOM ExxonMobil Holdings Corporation compare 24.8%
E Eni SpA compare 19.5%
Oil & Gas Integrated industry median 39.9%
Energy sector median 42.1%
Market median 45.1%

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

The full definition of Gross margin →

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