Chevron CorpChevron Corp
Chevron Corp

Chevron Corp

CVX
Energy·Oil, Gas & Consumable Fuels

Chevron Corp. engages in the provision of oil and gas energy solutions. It provides crude oil and natural gas, manufactures transportation fuels, lubricants, petrochemicals, and additives, and develops technologies that enhance business and the industry. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant. The Downstream segment consists of the refining of crude oil into petroleum products, the marketing of crude oil and refined products, the transporting of crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car, and the manufacturing and marketing of commodity petrochemicals and plastics for industrial uses and fuel & lubricant additives. The company was founded on September 10, 1879 and is headquartered in Houston, TX.

California; U.S.A
Market cap
$418BNo data
Revenue
$189B−6.8% YoY
Net income
$12.3B−30.4% YoY
Free cash flow
$16.6B+10.3% YoY

Market

Listed stock
Tokenized stocks
CVXPriceNYSE
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Financial performance

Revenue
$189B−6.8% YoY
Operating income
$48.1B−9.1% YoY
Net income
$12.3B−30.4% YoY
Free cash flow
$16.6B+10.3% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $162.5B, 2022 $246.3B, 2023 $200.9B, 2024 $202.8B, 2025 $189B. Operating income: 2021 $49.4B, 2022 $72.4B, 2023 $52.9B, 2024 $53B, 2025 $48.1B. Net income: 2021 $15.6B, 2022 $35.5B, 2023 $21.4B, 2024 $17.7B, 2025 $12.3B. Free cash flow: 2021 $21.1B, 2022 $37.6B, 2023 $19.8B, 2024 $15B, 2025 $16.6B. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-6.8%−770 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $49.4B, 2022-12-31 $72.4B, 2023-12-31 $52.9B, 2024-12-31 $53B, 2025-12-31 $48.1B. Net income: 2021-12-31 $15.6B, 2022-12-31 $35.5B, 2023-12-31 $21.4B, 2024-12-31 $17.7B, 2025-12-31 $12.3B. Free cash flow: 2021-12-31 $21.1B, 2022-12-31 $37.6B, 2023-12-31 $19.8B, 2024-12-31 $15B, 2025-12-31 $16.6B

Growth heatmap

2022202320242025CAGR
Revenue
+51.6%
-18.4%
+0.9%
-6.8%
+3.9%
Gross profit
+38.0%
-18.9%
+2.2%
-3.3%
+2.5%
Operating income
+46.6%
-26.9%
+0.2%
-9.1%
-0.6%
Free cash flow
+78.1%
-47.4%
-23.9%
+10.3%
-5.9%

Earnings quality

Operating cash flow
$33.9B+7.8% YoY
Net income
$12.3B−30.4% YoY
Free cash flow
$16.6B+10.3% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 276%, 2024-12-31 178%, 2023-12-31 167%, 2022-12-31 140%, 2021-12-31 187%. Free cash flow: 2025-12-31 135%, 2024-12-31 85%, 2023-12-31 93%, 2022-12-31 106%, 2021-12-31 135%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data