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) Operating margin
Chevron Corporation's operating margin over the twelve months to 30 June 2026 was 14.9%, up 3.8 percentage points from fiscal 2025 (11.1%). Over the past ten years it has ranged from −7.13% (fiscal 2020) to 20.4% (fiscal 2022); the current reading is higher than 55% of that period. That is in line with the Oil & Gas Integrated industry median of 14.9% and in line with the Energy sector median of 14.5%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 11.1% | (2.77) |
| FY2024 | 13.9% | (1.10) |
| FY2023 | 15.0% | (5.42) |
| FY2022 | 20.4% | 6.62 |
| FY2021 | 13.8% | 20.89 |
| FY2020 | −7.13% | (11.45) |
| FY2019 | 4.32% | (8.50) |
| FY2018 | 12.8% | 6.10 |
| FY2017 | 6.72% | 8.43 |
| FY2016 | −1.71% | (5.21) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 24.3% | 15.49 |
| Mar 2026 | 8.83% | (1.75) |
| Dec 2025 | 10.6% | (1.05) |
| Sep 2025 | 11.6% | 1.77 |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| PBR Petroleo Brasileiro S.A.- Petrobras compare | 34.2% |
| PBR.A Petroleo Brasileiro S.A.- Petrobras compare | 34.2% |
| EQNR Equinor ASA compare | 28.4% |
| CVX Chevron Corporation | 14.9% |
| SHEL Shell PLC Unsponsored ADR compare | 14.8% |
| TTE TotalEnergies SE Sponsored ADR compare | 14.0% |
| XOM ExxonMobil Holdings Corporation compare | 12.5% |
| BP BP p.l.c. compare | 9.80% |
| E Eni SpA compare | 4.15% |
| Oil & Gas Integrated industry median | 14.9% |
| Energy sector median | 14.5% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
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