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Investment Highlights Market Valuation Price Chart Return vs. Risk About CVX Interactive Breakdown Better Bets vs. CVX Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Chevron (CVX)

Market Price (10/28/2025): $155.21 | Market Cap: $266.8 Bil
Sector: Energy | Industry: Integrated Oil & Gas

Chevron (CVX)

Market Price (10/28/2025): $155.21
Market Cap: $266.8 Bil
Sector: Energy
Industry: Integrated Oil & Gas

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.5%, Dividend Yield is 4.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.0%, FCF Yield is 6.0%		 Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -84%		 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9%, Rev Chg QQuarterly Revenue Change % is -10%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 32 Bil, FCF LTM is 16 Bil		  
2 Low stock price volatility
Vol 12M is 25%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.5%, Dividend Yield is 4.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.0%, FCF Yield is 6.0%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 32 Bil, FCF LTM is 16 Bil
2 Low stock price volatility
Vol 12M is 25%
3 Weak multi-year price returns
2Y Excs Rtn is -58%, 3Y Excs Rtn is -84%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9%, Rev Chg QQuarterly Revenue Change % is -10%

Market Valuation & Key Metrics

CVXS&P 500
REVENUE GROWTHVERY POOR
Rev LTM ($ Bil)187.7
Rev Chg Q-10.5%6.4%
Rev Chg LTM-4.7%5.3%
Rev Chg 3Y Avg-2.9%5.4%
PROFITABILITYPOOR
Op Inc LTM ($ Bil)15.7
CFO LTM ($ Bil)32.1
Net Inc LTM ($ Bil)13.7
Op Mgn LTM8.4%18.7%
CFO/Rev LTM17.1%20.5%
Net Inc Mgn7.3%12.7%
VALUATIONMODERATE
P/S1.43.3
P/CFO8.316.1
P/FCF16.620.9
P/E19.524.0
STABILITYGOOD
Debt/Equity0.110.21
Cash/Assets0.020.07

CVX Stock

   
   
   
   
   
   
   

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
CVX Return-26%46%58%-14%1%11%67%
Peers Return-37%28%64%4%-7%36%72%
S&P 500 Return16%27%-19%24%23%17%110%

Monthly Win Rates [3]
CVX Win Rate33%67%58%50%58%78% 
Peers Win Rate30%60%67%52%45%69% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
CVX Max Drawdown-54%0%0%-19%-5%-7% 
Peers Max Drawdown-60%-4%-0%-14%-15%-16% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: PSX, DK, XOM, CVX, BP. See CVX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/27/2025 (YTD)

How Low Can It Go

Unique KeyEventCVXS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-24.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven33.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven110 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-55.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven124.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven652 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-24.4%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven32.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven1130 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-45.2%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven82.6%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven725 days1480 days

Compare to PSX, DK, XOM, CVX, BP


In The Past

Chevron's stock fell -24.9% during the 2022 Inflation Shock from a high on 6/8/2022. A -24.9% loss requires a 33.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Chevron (CVX)

Interactive Breakdown

Chevron Interactive Breakdown Analysis

Better Bets than Chevron (CVX)

 CVXBetter Performance than CVX
MetricValueIndustry (Integrated Oil & Gas)
Rev Chg LTM-4.7%XOM (-3.3%), SU (-2.1%), CVE (3.0%), SLNG (-3.0%), VIVK (98.8%)
Rev Chg 3Y Avg-2.9%XOM (-2.1%), BP (-2.4%), SU (0.1%), IMO (-2.1%), CVE (2.6%)
Op Mgn LTM8.4%XOM (11.4%), SU (15.2%), IMO (12.6%)
CFO/Rev LTM17.1%SU (26.9%)
FCF/Rev LTM8.6%XOM (8.8%), SU (15.7%), IMO (9.5%)
Total Yield9.5%XOM (9.6%), SU (17.3%), IMO (12.9%), CVE (14.1%)
 CVXBetter Performance than CVX
MetricValueAll Other Sectors
Rev Chg LTM-4.7%NVDA (71.6%), AAPL (6.0%), MSFT (14.9%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg-2.9%NVDA (92.0%), AAPL (1.8%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%)
Op Mgn LTM8.4%NVDA (58.1%), AAPL (31.9%), MSFT (45.6%), GOOGL (32.7%), AMZN (11.4%)
CFO/Rev LTM17.1%NVDA (46.6%), AAPL (26.6%), MSFT (48.3%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM8.6%NVDA (43.6%), AAPL (23.5%), MSFT (25.4%), GOOGL (18.0%), META (30.7%)
Total Yield9.5%BABA (35.1%), TM (1999.3%), MRK (11.1%), VZ (17.8%), PFE (12.8%)
 Best Bets In Energy Sector
 CVXTPL AM MGY INSW CTRA DTM EOG WHD WMB CHRD
What You Pay           
P/E19.546.318.611.410.111.528.810.115.129.020.3
P/EBIT11.537.910.48.38.68.615.87.710.015.29.1
What You Get           
Rev Chg Q-10.5%8.8%12.4%9.7%-24.0%54.6%26.6%-11.2%-5.8%19.0%-6.4%
Rev Chg LTM-4.7%10.7%7.1%8.8%-22.0%17.1%15.3%-5.4%-0.7%7.4%19.5%
Rev Chg 3Y Avg-2.9%7.8%8.5%5.1%37.6%0.7%8.3%-5.1%28.4%1.8%34.0%
FCF/Rev 3Y Avg10.2%47.2%45.4%38.2%33.0%27.6%25.0%24.3%23.1%22.9%22.8%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Chevron Earnings Notes  
2How Low Can Chevron Stock Really Go?Return 
3Chevron vs T-Mobile US: Which Is A Better Investment?Counter-Intuitive Comparisons 
4Chevron vs ConocoPhillips: Which Is A Better Investment?Counter-Intuitive Comparisons 
5How Does Chevron Stock Stack Up Against Its Peers?Peer Comparison 
6Better Bet Than CVX Stock: Pay Less Than Chevron To Get More From UNH, DIS   
7Better Bet Than CVX Stock: Pay Less Than Chevron To Get More From OKE, SLB   
8Why Chevron Stock Moved: CVX Stock Has Gained 54% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues  
9Better Bet Than CVX Stock: Pay Less Than Chevron To Get More From YPF Actionable 
10CVX Dip Buy Analysis  
11ARTICLES  
12What To Expect From Chevron’s Q2 Earnings Report? July 30th, 2025
13Better Bet Than Chevron Stock: Pay Less To Get More From YPF July 29th, 2025
14Better Bet Than Chevron Stock: Pay Less To Get More From HES, YPF July 17th, 2025
15How Will Chevron Stock React To Its Upcoming Q1 Earnings? May 1st, 2025
16What’s Next For Chevron’s Stock? December 12th, 2024
Title
0DASHBOARDS
1What To Expect From Chevron’s Q2 Earnings Report?
2Better Bet Than Chevron Stock: Pay Less To Get More From YPF
3Better Bet Than Chevron Stock: Pay Less To Get More From HES, YPF
4How Will Chevron Stock React To Its Upcoming Q1 Earnings?
5What’s Next For Chevron’s Stock?
6ARTICLES
7Chevron Earnings Notes
8How Low Can Chevron Stock Really Go?
9Chevron vs T-Mobile US: Which Is A Better Investment?
10Chevron vs ConocoPhillips: Which Is A Better Investment?
11How Does Chevron Stock Stack Up Against Its Peers?
12Better Bet Than CVX Stock: Pay Less Than Chevron To Get More From UNH, DIS 
13Better Bet Than CVX Stock: Pay Less Than Chevron To Get More From OKE, SLB 
14Why Chevron Stock Moved: CVX Stock Has Gained 54% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues
15Better Bet Than CVX Stock: Pay Less Than Chevron To Get More From YPF 
16CVX Dip Buy Analysis

Trade Ideas

Select past ideas related to CVX. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TDW_9302025_Dip_Buyer_FCFYield09302025TDWTidewaterDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-7.5%-7.5%-11.3%
OKE_9302025_Dip_Buyer_ValueBuy09302025OKEONEOKDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-6.0%-6.0%-7.9%
LEU_8312025_Quality_Momentum_RoomToRun_10%08312025LEUCentrus EnergyQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		89.9%89.9%-1.3%
KNTK_5312025_Dip_Buyer_ValueBuy05312025KNTKKinetikDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-7.8%-7.8%-18.1%
WHD_4302025_Dip_Buyer_FCFYield04302025WHDCactusDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		3.2%3.2%-11.4%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TDW_9302025_Dip_Buyer_FCFYield09302025TDWTidewaterDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-7.5%-7.5%-11.3%
OKE_9302025_Dip_Buyer_ValueBuy09302025OKEONEOKDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-6.0%-6.0%-7.9%
LEU_8312025_Quality_Momentum_RoomToRun_10%08312025LEUCentrus EnergyQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		89.9%89.9%-1.3%
KNTK_5312025_Dip_Buyer_ValueBuy05312025KNTKKinetikDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-7.8%-7.8%-18.1%
WHD_4302025_Dip_Buyer_FCFYield04302025WHDCactusDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		3.2%3.2%-11.4%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor55.1%86.3%
2INBXInhibrx Biosciences54.0%282.1%
3BALYBallys45.5%4.1%
4RNAAvidity Biosciences42.8%140.7%
5CLBCore Laboratories42.3%-2.4%
6DYNDyne Therapeutics41.5%2.6%
7MOFGMidWestOne Financial36.4%35.6%
8GTXGarrett Motion36.4%92.0%
9NUVBNuvation Bio36.2%89.5%
10WGOWinnebago Industries35.0%-10.4%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-59.1%7439.7%
2NTLAIntellia Therapeutics-47.1%26.8%
3ITGRInteger-34.6%-47.0%
4USARUSA Rare Earth-31.6%72383.2%
5UAMYUnited States Antimony-28.7%440.7%
6METCRamaco Resources-28.7%236.0%
7SESSES AI-25.4%11.4%
8ASMAvino Silver & Gold Mines-24.5%428.9%
9OGNOrganon-23.6%-51.6%
10MPMP Materials-20.9%320.3%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed2452.9%363.8%
2PRAXPraxis Precision Medicines254.6%141.6%
3NVTSNavitas Semiconductor116.3%289.6%
4VICRVicor84.9%86.3%
5DYNDyne Therapeutics83.8%2.6%
6ORKAOruka Therapeutics82.2%42.9%
7SNDKSanDisk81.7% 
8INBXInhibrx Biosciences80.1%282.1%
9CIFRCipher Mining79.1%342.7%
10BITFBitfarms78.7%204.7%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-45.4%7439.7%
2VGVenture Global-36.9% 
3SOCSable Offshore-34.9%-43.9%
4OGNOrganon-30.9%-51.6%
5ITGRInteger-30.8%-47.0%
6USNAUsana Health Sciences-29.5%-44.0%
7FWRDForward Air-26.0%-38.7%
8NFENew Fortress Energy-25.6%-89.6%
9LENZLENZ Therapeutics-25.6%8.4%
10RCReady Capital-24.7%-49.9%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor55.1%86.3%
2INBXInhibrx Biosciences54.0%282.1%
3BALYBallys45.5%4.1%
4RNAAvidity Biosciences42.8%140.7%
5CLBCore Laboratories42.3%-2.4%
6DYNDyne Therapeutics41.5%2.6%
7MOFGMidWestOne Financial36.4%35.6%
8GTXGarrett Motion36.4%92.0%
9NUVBNuvation Bio36.2%89.5%
10WGOWinnebago Industries35.0%-10.4%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-59.1%7439.7%
2NTLAIntellia Therapeutics-47.1%26.8%
3ITGRInteger-34.6%-47.0%
4USARUSA Rare Earth-31.6%72383.2%
5UAMYUnited States Antimony-28.7%440.7%
6METCRamaco Resources-28.7%236.0%
7SESSES AI-25.4%11.4%
8ASMAvino Silver & Gold Mines-24.5%428.9%
9OGNOrganon-23.6%-51.6%
10MPMP Materials-20.9%320.3%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Chevron

Financials

CVXPSXDKXOMBPMedian
NameChevron Phillips.Delek US Exxon Mo.BP  
Mkt Price155.28135.4237.85115.9434.77115.94
Mkt Cap267.055.12.3502.190.790.7
Rev LTM187,736132,96610,823329,385186,538186,538
Op Inc LTM15,729798-48437,57212,82712,827
FCF LTM16,1021,488-81629,1238,5908,590
FCF 3Y Avg20,6284,660-18235,95815,77715,777
CFO LTM32,1343,362-19654,30123,29323,293
CFO 3Y Avg36,2106,71525858,98030,10030,100

Growth & Margins

CVXPSXDKXOMBPMedian
NameChevron Phillips.Delek US Exxon Mo.BP  
Rev Chg LTM-4.7%-12.4%-27.9%-3.3%-7.5%-7.5%
Rev Chg 3Y Avg-2.9%-3.2%-12.0%-2.1%-2.4%-2.9%
Rev Chg Q-10.5%-12.6%-16.4%-11.7%-1.4%-11.7%
QoQ Delta Rev Chg LTM-2.7%-3.5%-4.8%-3.1%-0.4%-3.1%
Op Mgn LTM8.4%0.6%-4.5%11.4%6.9%6.9%
Op Mgn 3Y Avg12.1%3.5%-1.0%13.4%11.4%11.4%
QoQ Delta Op Mgn LTM-0.6%0.2%-0.7%-0.2%0.8%-0.2%
CFO/Rev LTM17.1%2.5%-1.8%16.5%12.5%12.5%
CFO/Rev 3Y Avg18.1%4.5%1.4%17.1%14.5%14.5%
FCF/Rev LTM8.6%1.1%-7.5%8.8%4.6%4.6%
FCF/Rev 3Y Avg10.2%3.1%-1.9%10.4%7.5%7.5%

Valuation

CVXPSXDKXOMBPMedian
NameChevron Phillips.Delek US Exxon Mo.BP  
Mkt Cap267.055.12.3502.190.790.7
P/S1.40.40.21.50.50.5
P/EBIT11.517.5-3.810.97.710.9
P/E19.532.1-3.016.2161.019.5
P/CFO8.316.4-11.79.23.98.3
Total Yield9.5%6.6%-30.8%9.6%4.8%6.6%
Dividend Yield4.4%3.5%2.8%3.4%4.2%3.5%
FCF Yield 3Y Avg7.4%9.7%-15.6%7.8%16.4%7.8%
D/E0.10.41.40.10.80.4
Net D/E0.10.41.10.00.40.4

Returns

CVXPSXDKXOMBPMedian
NameChevron Phillips.Delek US Exxon Mo.BP  
1M Rtn-3.0%-2.9%15.4%-1.1%-2.6%-2.6%
3M Rtn0.5%7.1%64.1%5.0%8.0%7.1%
6M Rtn13.4%30.5%186.3%8.7%23.1%23.1%
12M Rtn7.6%9.7%136.0%0.5%17.2%9.7%
3Y Rtn-2.5%44.9%47.2%16.0%23.8%23.8%
1M Excs Rtn-6.5%-6.4%11.9%-4.6%-6.1%-6.1%
3M Excs Rtn-7.9%-1.4%55.4%-4.2%-0.9%-1.4%
6M Excs Rtn-10.9%6.2%162.0%-15.6%-1.3%-1.3%
12M Excs Rtn-10.7%-9.7%123.4%-18.7%-0.6%-9.7%
3Y Excs Rtn-83.7%-33.1%-35.0%-64.0%-55.0%-55.0%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/7/20255/8/20252/21/202511/7/20248/7/20245/2/20242/26/202411/2/20238/3/20235/4/20232/23/202311/3/2022
Key Financials Quarterly            
Total Revenue44,37546,10148,33448,92649,57446,58048,93351,92247,21648,84254,52363,508
Ebitda8,83010,03010,34910,88311,33412,1597,21213,04911,51613,26513,41619,159
Operating Income4,0574,2972,4164,9595,5905,9525,4076,7856,3167,7218,01712,009
Net Income2,4903,5003,2394,4874,4345,5012,2596,5266,0106,5746,35311,231
EPS1.452.011.852.492.432.991.233.483.223.483.345.81
Key Financials TTM            
Total Revenue TTM187,736192,935193,414194,013197,009194,651196,913202,503214,089232,245235,717227,055
Ebitda TTM40,09242,59644,72541,58843,75443,93645,04251,24657,35665,77165,48563,055
Operating Income TTM15,72917,26218,91721,90823,73424,46026,22928,83934,06340,47639,95036,891
Net Income TTM13,71615,66017,66116,68118,72020,29621,36925,46330,16835,78035,46534,167
Growth Rates Quarterly            
Total Revenue Growth-10.5%-1.0%-1.2%-5.8%5.0%-4.6%-10.3%-18.2%-27.8%-6.6%18.9%49.2%
EBITDA Growth-22.1%-17.5%43.5%-16.6%-1.6%-8.3%-46.2%-31.9%-42.2%2.2%22.1%52.4%
Operating Income Growth-27.4%-27.8%-55.3%-26.9%-11.5%-22.9%-32.6%-43.5%-50.4%7.3%61.7%94.6%
Net Income Growth-43.8%-36.4%43.4%-31.2%-26.2%-16.3%-64.4%-41.9%-48.3%5.0%25.7%83.8%
Margins Quarterly            
EBITDA Margin19.9%21.8%21.4%22.2%22.9%26.1%14.7%25.1%24.4%27.2%24.6%30.2%
Operating Income Margin9.1%9.3%5.0%10.1%11.3%12.8%11.0%13.1%13.4%15.8%14.7%18.9%
Net Income Margin5.6%7.6%6.7%9.2%8.9%11.8%4.6%12.6%12.7%13.5%11.7%17.7%
Cash & Debt            
Total Cash4,0664,6436,7854,7034,0086,2788,2235,9389,61015,79817,90115,431
Total Debt29,46729,68124,54125,84123,18421,83520,83620,55921,51423,20623,33923,641
Net Debt / (Cash)25,40125,03817,75621,13819,17615,55712,61314,62111,9047,4085,4388,210
Cash Flows Quarterly            
FCF from Operations8,5765,1898,6959,6746,2956,82812,4349,6736,2977,20512,49815,267
Cash Flows TTM            
FCF from Operations TTM32,13429,85331,49235,23135,23035,23235,60935,67341,26748,75249,60246,562
Returns to Shareholders Quarterly            
Dividends2,9342,9842,8872,9332,9783,0032,8092,8522,8182,8572,7132,743
Share Repurchases2,5983,9174,5004,7503,0012,9783,4213,3904,3753,7533,7503,750
Return on Invested Capital (ROIC) Quarterly            
ROIC38.7%43.2%29.3%65.0%73.6%107.2%110.2%139.2%162.7%289.3%383.5%444.0%
Return on Invested Capital (ROIC) TTM            
ROIC TTM38.3%43.0%68.7%69.5%85.6%114.4%150.5%140.3%206.1%391.6%526.6%329.1%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Downstream161,625179,565115,30768,083107,912
Upstream83,920106,97870,14026,31131,707
All Other59751850877246
Intersegment Elimination-49,229-51,344-30,349  
Total196,913235,717155,60694,471139,865


Net Income by Segment
$ Mil20242023202220212020
Upstream17,43830,28415,818-2,4332,576
Downstream6,1378,1552,914472,481
All Other-2,206-2,974-3,107-3,157-2,133
Total21,36935,46515,625-5,5432,924


Assets by Segment
$ Mil20242023202220212020
Upstream194,805    
Downstream54,488    
All Other12,339    
Total261,632    


Price Behavior

CVX Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta-0.790.040.180.820.660.64
Up Beta0.300.880.810.660.640.65
Down Beta-1.46-0.170.341.381.050.95
Up Capture-89%-1%19%31%30%16%
Bmk +ve Days13233574144420
Stock +ve Days11243668141410
Down Capture-83%-50%-60%72%47%77%
Bmk -ve Days8192952107330
Stock -ve Days10182858110341

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity15,790,033
Short Interest: % Change Since 9302025-2.0%
Average Daily Volume6,337,718
Days-to-Cover Short Interest2.49
Basic Shares Quantity1,719,184,000
Short % of Basic Shares0.9%

Returns Analyses

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/1/2025-0.2%1.0%7.1%
5/2/20251.6%0.6%2.4%
1/31/2025-4.6%-2.8%-1.0%
11/1/20242.9%5.3%10.1%
8/2/2024-2.7%-5.3%-2.0%
4/26/20240.4%-2.8%-3.6%
2/2/20242.9%4.2%1.8%
10/27/2023-6.7%-3.9%-5.7%
...
SUMMARY STATS   
# Positive111415
# Negative13109
Median Positive1.2%1.6%2.7%
Median Negative-3.5%-2.8%-3.6%
Max Positive8.9%5.3%28.6%
Max Negative-6.7%-10.0%-12.5%

SEC Filings

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Report DateFiling DateFiling
6302025807202510-Q 6/30/2025
3312025508202510-Q 3/31/2025
12312024221202510-K 12/31/2024
93020241107202410-Q 9/30/2024
6302024807202410-Q 6/30/2024
3312024502202410-Q 3/31/2024
12312023226202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023504202310-Q 3/31/2023
12312022223202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022804202210-Q 6/30/2022
3312022504202210-Q 3/31/2022
12312021224202210-K 12/31/2021
93020211104202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0HESS JOHN B 8262025Sell158.30375,00059,363,550222,105,952Form

Industry Resources

External Quote Links


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