CVXNYSEPetroleum RefiningFiscal year ends December 31
CHEVRON CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$224.37−0.62 (-0.28%)
Close on Oct 19, 2026
- Market cap
- $443.15B
- P/E (TTM)
- 21.5
- Dividend yield
- 3.05%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
42.8%−2.2 pts over 5 years
Net margin
6.5%+12.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -6.8% | -8.4% | +14.8% | +3.2% | |
| Gross profit | -3.3% | -7.1% | +13.7% | – | |
| Net income | -30.4% | -29.7% | – | +10.4% | |
| EPS, diluted | -31.8% | -28.7% | – | +10.5% | |
| Free cash flow | +10.3% | -23.9% | +58.6% | – | |
| Dividend per share | +4.9% | +6.4% | +5.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -0.3% | -4.0% | 7.3% | |
| Return on assets | -0.2% | -2.3% | 4.2% | |
| Current ratio | 0.93 | 1.18 | 1.15 | |
| Debt to equity | 0.38 | 0.41 | 0.27 | |
| Inventory turnover | 10.1× | 9.1× | 11.5× | |
| Capex to revenue | 15.8% | 9.4% | 9.2% | |
| Diluted shares | 1.87B | 1.87B | 1.86B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Chevron generated $179.83B from operations and spent $181.57B on capital expenditure, dividends and share buybacks. 38% of that went back into the business.
Generated
$179.83B
Used
$181.57B
Capital expenditure$69.65B38%Dividends$57.04B31%Share buybacks$54.89B30%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin6.5%
×Asset turnover0.65×
×Equity multiplier1.71×
=Return on equity, FY20257.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 6.5% | 0.65× | 1.71× | 7.3% |
| FY2024 | 8.7% | 0.78× | 1.66× | 11.3% |
| FY2023 | 10.6% | 0.77× | 1.62× | 13.3% |
| FY2022 | 14.4% | 0.99× | 1.67× | 23.8% |
| FY2021 | 9.6% | 0.68× | 1.77× | 11.5% |
| FY2020 | -5.9% | 0.40× | 1.73× | -4.0% |
| FY2019 | 2.0% | 0.60× | 1.64× | 2.0% |
| FY2018 | 8.9% | 0.66× | 1.68× | 9.8% |
| FY2017 | 6.5% | 0.55× | 1.75× | 6.3% |
| FY2016 | -0.4% | 0.44× | 1.76× | -0.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$12.30B
- Cash generatingOperating cash flow above zero$33.94B
- Return on assets improvedROA up on the prior year6.8% → 4.8%
- Earnings backed by cashOperating cash flow above net income$33.94B vs $12.30B
- Less leverageLong-term debt to assets fell7.8% → 12.3%
- Better liquidityCurrent ratio rose1.06 → 1.15
- No dilutionShare count did not rise1.82B → 1.86B
- Gross margin improvedGross margin up on the prior year41.22% → 42.75%
- More efficientAsset turnover rose0.78 → 0.74