Saturday 17 October 2026 Export CVX’s income statement to Excel — free account

Chevron Corporation

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.

224.99 5.67 +2.59%

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Market cap: $433.3B
P/E: 21.5×
Fwd P/E: 12.4×
Dividend yield: 3.13%
F-score: 5/9
Altman Z: 2.99
Beneish M: −3.01
Dividend safety: 42/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Share dilution Aug 6, 2026

All filings →

Insider Decisions trades per month

Total sells 636.81

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	2	—	8	11	5	—	2	—	—	6	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 433,330.00

Revenue 215,261.00

Net Income 20,965.00

Free Cash Flow 27,012.00

Net Debt 28,545.00

Current Ratio 1.25

Debt/Equity 0.19

P/E ratio 21.49

Fwd P/E 12.40

P/S ratio 2.06

P/B ratio 2.27

Past 5Y EPS Growth —

This Y EPS Growth 137.34%

Next Y EPS Growth (13.60%)

Next Y revenue growth 25.89%

Next 5Y EPS Growth 19.70%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 63.82%

10-year low 10-year high

P/S against its own 10 years 97.12%

10-year low 10-year high

P/B against its own 10 years 99.00%

10-year low 10-year high

EV/Sales against its own 10 years 93.40%

10-year low 10-year high

EV/FCF against its own 10 years 53.83%

10-year low 10-year high

Dividends

Payout Ratio 0.68

Annual Dividend Rate 7.05

Annual Dividend Yield 3.13%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	7.14	1.78 1.78 1.78
2025	6.84	1.71 1.71 1.71 1.71
2024	6.52	1.63 1.63 1.63 1.63
2023	6.04	1.51 1.51 1.51 1.51
2022	5.68	1.42 1.42 1.42 1.42
2021	5.31	1.29 1.34 1.34 1.34
2020	5.16	1.29 1.29 1.29 1.29
2019	4.76	1.19 1.19 1.19 1.19
2018	4.48	1.12 1.12 1.12 1.12
2017	4.32	1.08 1.08 1.08 1.08
2016	4.29	1.07 1.07 1.07 1.08

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	8,223	6,785	6,297	8,530
Receivables	19,921	20,684	18,075	24,575
Inventory	8,612	9,074	9,711	10,522
Other	—	—	—	—
	41,128	40,911	38,552	49,136

	2023	2024	2025	Q'26
Payables	20,423	22,079	19,280	24,419
ST’ Debt	529	4,406	977	401
Other	—	—	—	—
	32,258	38,558	33,387	39,241

Compound Annual Growth %

	10y	5y	3y
Sales	3.16%	14.83%	(8.44%)
Cash Flow	5.72%	26.26%	(11.88%)
Earnings	10.37%	0.00%	(29.74%)
Book Value	2.25%	7.68%	6.24%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	48,607	70,055	—	—	—
’25	47,610	44,822	49,726	46,873	189,031
’24	48,716	51,181	50,669	52,226	202,792
’23	50,793	48,896	54,080	47,180	200,949
’22	54,373	68,762	66,644	56,473	246,252
’21	32,029	37,597	44,710	48,129	162,465
’20	31,501	13,494	24,451	25,246	94,692

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	2,514	22,633	—	—	—
’25	5,189	8,576	9,385	10,789	33,939
’24	6,828	6,295	9,674	8,695	31,492
’23	7,205	6,297	9,673	12,434	35,609
’22	8,055	13,782	15,267	12,498	49,602
’21	4,196	6,954	8,579	9,458	29,187
’20	4,722	80	3,537	2,238	10,577

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,549)	18,095	—	—	—
’25	1,262	4,864	4,941	5,525	16,592
’24	2,739	2,329	5,619	4,357	15,044
’23	4,167	2,540	5,000	8,073	19,780
’22	6,095	10,598	12,272	8,663	37,628
’21	2,450	5,157	6,672	6,852	21,131
’20	1,589	(2,012)	1,907	171	1,655

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.11	6.11	—	—	—
’25	2.00	1.45	1.82	1.39	6.63
’24	2.97	2.43	2.48	1.84	9.72
’23	3.46	3.20	3.48	1.22	11.36
’22	3.22	5.95	5.78	3.33	18.28
’21	0.72	1.60	3.19	2.63	8.14
’20	1.93	(4.44)	(0.12)	(0.33)	(2.96)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	75.33	102.55	100.22	107.10	51.60	83.89	117.29	140.72	135.37	132.04	Analyst estimates 2026–2028 Powerpack
	High	119.00	126.20	133.88	127.34	122.72	119.34	189.68	187.81	167.11	168.96
People
People	Employees	55,200	51,900	48,600	48,200	47,736	42,595	43,846	45,600	45,298	43,039
	Revenue/emp, $m	2.07	2.73	3.42	3.04	1.98	3.81	5.62	4.41	4.48	4.39
Income, $m
Income, $m	Revenue	114,472	141,722	166,339	146,516	94,692	162,465	246,252	200,949	202,792	189,031
	Gross margin, %	37.99	37.84	40.22	42.50	41.93	40.78	39.31	38.58	38.89	39.99
	EBT	(2,160)	9,221	20,575	5,536	(7,453)	21,639	49,674	29,584	27,506	19,743
	EBT margin, %	(1.89)	6.51	12.37	3.78	(7.87)	13.32	20.17	14.72	13.56	10.44
	Net income	(431)	9,269	14,860	2,845	(5,561)	15,689	35,608	21,411	17,749	12,485
	Depreciation	19,457	19,349	19,419	29,218	19,508	17,925	16,319	17,326	17,282	20,132
Per share, $
Per share, $	Revenue	61.12	75.26	87.69	77.85	50.64	84.79	127.53	107.29	112.04	102.23
	Earnings	(0.27)	4.88	7.81	1.55	(2.96)	8.15	18.36	11.41	9.76	6.65
	Cash flow	6.78	10.80	16.14	14.51	5.66	15.23	25.69	19.01	17.40	18.36
	Capex	(9.67)	(7.12)	(7.27)	(7.50)	(4.77)	(4.20)	(6.20)	(8.45)	(9.09)	(9.38)
	Free cash flow	(2.89)	3.68	8.87	7.01	0.89	11.03	19.49	10.56	8.31	8.97
	Book value	78.34	79.30	82.05	77.16	70.98	73.04	82.98	86.45	84.62	103.94
	Shares, m	1,873	1,883	1,897	1,882	1,870	1,916	1,931	1,873	1,810	1,849
Valuation, ×
Valuation, ×	P/E	0.00	26.14	13.93	77.75	0.00	14.40	9.48	13.10	14.84	22.82
	P/S	1.93	1.70	1.24	1.55	1.67	1.38	1.36	1.39	1.29	1.49
	P/B	1.50	1.61	1.33	1.56	1.19	1.61	2.10	1.73	1.71	1.47
	EV/Sales	2.27	1.93	1.39	1.69	2.08	1.54	1.39	1.46	1.38	1.67
	EV/FCF	(47.95)	39.54	13.70	18.79	118.80	11.86	9.07	14.79	18.61	19.06
Cash, $m
Cash, $m	Operating cash flow	12,690	20,338	30,618	27,314	10,577	29,187	49,602	35,609	31,492	33,939
	Capex	(18,109)	(13,404)	(13,792)	(14,116)	(8,922)	(8,056)	(11,974)	(15,829)	(16,448)	(17,347)
	Free cash flow	(5,419)	6,934	16,826	13,198	1,655	21,131	37,628	19,780	15,044	16,592
Balance, $m
Balance, $m	Working capital	(2,166)	823	6,850	1,799	3,895	6,947	16,135	8,870	2,353	5,165
	Total debt	46,126	38,763	34,459	26,973	44,315	31,369	23,339	20,836	24,541	40,758
	Net debt	39,125	33,941	24,114	21,224	38,688	25,694	5,438	12,613	17,756	34,461
	Shareholders’ equity	146,722	149,319	155,642	145,208	132,726	139,940	160,242	161,929	153,157	192,176
Returns, %
Returns, %	ROA	(0.19)	3.58	5.84	1.19	(2.32)	6.52	14.26	8.23	6.81	4.23
	ROIC	(0.73)	3.14	7.15	2.08	(2.72)	8.17	18.74	10.59	10.06	5.44
	ROE	(0.33)	6.21	9.72	1.94	(3.99)	11.46	23.63	13.27	11.21	7.12

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
XOM ExxonMobil Holdings Corporation	$718.3B	23.0×	12.6×	+42.34% (above 0%: growing)	+112.20% (above 0%: growing)	+220.74% (above 0%: growing)	26.73%	16.94%	Compare
CVX Chevron Corporation	$433.3B	21.5×	12.4×	+56.30% (above 0%: growing)	+322.76% (above 0%: growing)	+272.02% (above 0%: growing)	46.01%	24.32%
SHEL Shell PLC Unsponsored ADR	$294.9B	11.6×	—	+45.02% (above 0%: growing)	+218.03% (above 0%: growing)	+173.92% (above 0%: growing)	27.23%	17.51%	Compare
TTE TotalEnergies SE Sponsored ADR	$196.8B	11.3×	7.6×	+27.80% (above 0%: growing)	+106.78% (above 0%: growing)	+464.21% (above 0%: growing)	32.91%	13.37%	Compare
BP BP p.l.c.	$124.8B	23.9×	8.0×	+47.06% (above 0%: growing)	+140.32% (above 0%: growing)	+144.15% (above 0%: growing)	27.64%	12.75%	Compare
EQNR Equinor ASA	$107.4B	12.8×	7.6×	+39.90% (above 0%: growing)	+298.00% (above 0%: growing)	+1,548.80% (above 0%: growing)	54.71%	36.94%	Compare
PBR Petroleo Brasileiro S.A.- Petrobras	$94.1B	6.6×	—	+59.75% (above 0%: growing)	+118.92% (above 0%: growing)	+149.36% (above 0%: growing)	58.00%	42.41%	Compare
E Eni SpA	$83.7B	14.8×	9.3×	+21.42% (above 0%: growing)	+616.67% (above 0%: growing)	+43.60% (above 0%: growing)	21.45%	5.19%	Compare
PBR.A Petroleo Brasileiro S.A.- Petrobras	$61.6B	5.9×	—	+59.75% (above 0%: growing)	+118.92% (above 0%: growing)	+149.36% (above 0%: growing)	58.00%	42.41%	Compare
Median of peers	$116.1B	12.2×	8.0×	+43.68%	+129.62%	+161.64%	30.27%	17.23%

All 19 Oil & Gas Integrated stocks →

Chevron Corporation (CVX) key facts

Concern: Chevron Corporation’s revenue for fiscal 2025 (year ended December 2025) was $189.0 billion, down 6.79% from fiscal 2024.
Concern: Net income was $12.5 billion, or $6.65 per share (basic), a net margin of 6.51%.
Chevron Corporation (CVX) is an Oil & Gas Integrated company in the Energy sector, listed on the New York Stock Exchange.
As of October 16, 2026, CVX traded at $224.99, a market capitalization of $433.3 billion.
At that price the stock trades at 21.5× trailing-twelve-month earnings and 2.1× sales; its P/E is higher than 64% of its own readings over the past ten years.
Chevron Corporation pays an annual dividend of $7.05 per share, a yield of 3.13%, with a payout ratio of 67.6%.
Return on equity was 7.12% and debt-to-equity 0.19.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.99 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated 25 September 2026

Chevron reported $189.0 billion of revenue and $12.5 billion of net income in FY2025, following declines from FY2024. Operating cash flow was $33.9 billion and free cash flow was $16.6 billion in FY2025, while capital returned to shareholders totaled $24.9 billion in FY2025.

In Q2 FY2026, revenue was $70.1 billion, net income was $12.2 billion, and free cash flow was $18.1 billion. Net debt was $28.5 billion in Q2 FY2026, while the current ratio was 1.3× in Q2 FY2026. Market capitalisation was $405.1 billion as of September 24, 2026.

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