NYSE : CVX
Chevron Corporation — Financial statements
Energy · Oil & Gas Integrated · United States
Last price 235.52 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 462.00B
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Financial statements
Chevron Corporation (CVX) reported revenue of 226.33B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 224.86B | 183.51B | 192.48B | 195.99B | 234.53B | 154.84B |
| Other Revenue | 1.47B | 1.14B | 3.09B | -1.19B | 1.39B | 227.00M |
| Revenue | 226.33B | 184.65B | 195.57B | 194.80B | 235.92B | 155.07B |
| Cost of Revenue | 125.83B | 107.29B | 118.27B | 118.27B | 144.22B | 91.48B |
| Gross Profit | 100.49B | 77.36B | 77.30B | 76.53B | 91.69B | 63.58B |
| Selling, General & Admin | 36.11B | 33.44B | 32.49B | 29.24B | 29.32B | 25.43B |
| Other Operating Expenses | 5.17B | 5.24B | 4.71B | 4.27B | 4.02B | 4.01B |
| Operating Expenses | 66.24B | 59.73B | 54.98B | 49.57B | 49.69B | 47.50B |
| Operating Income | 34.26B | 17.63B | 22.32B | 26.96B | 42.01B | 16.09B |
| Interest Expense | -1.36B | -1.22B | -594.00M | -469.00M | -516.00M | -712.00M |
| Earnings From Equity Investments | 5.63B | 3.00B | 4.60B | 5.13B | 8.59B | 5.66B |
| EBT Excluding Unusual Items | 38.52B | 19.41B | 26.32B | 31.63B | 50.07B | 21.03B |
| Gain (Loss) on Sale of Assets | 462.00M | 462.00M | 1.69B | 138.00M | 550.00M | 1.02B |
| Asset Writedown | -133.00M | -133.00M | -500.00M | -2.18B | -950.00M | -414.00M |
| Pretax Income | 38.85B | 19.74B | 27.51B | 29.58B | 49.67B | 21.64B |
| Income Tax Expense | 11.45B | 7.26B | 9.76B | 8.17B | 14.07B | 5.95B |
| Earnings From Continuing Operations | 27.40B | 12.48B | 17.75B | 21.41B | 35.61B | 15.69B |
| Minority Interest in Earnings | -424.00M | -186.00M | -88.00M | -42.00M | -143.00M | -64.00M |
| Net Income | 26.98B | 12.30B | 17.66B | 21.37B | 35.47B | 15.62B |
| Net Income to Common | 26.98B | 12.30B | 17.66B | 21.37B | 35.47B | 15.62B |
| Shares Outstanding (Basic) | 1.97B | 1.85B | 1.81B | 1.87B | 1.93B | 1.92B |
| Shares Outstanding (Diluted) | 1.98B | 1.86B | 1.82B | 1.88B | 1.94B | 1.92B |
| EPS (Basic) | 13.66 | 6.65 | 9.76 | 11.41 | 18.37 | 8.16 |
| EPS (Diluted) | 13.62 | 6.63 | 9.72 | 11.36 | 18.28 | 8.14 |
| Free Cash Flow | 34.07B | 16.59B | 15.04B | 19.78B | 37.63B | 21.13B |
| Free Cash Flow Per Share | 17.20 | 8.94 | 8.28 | 10.52 | 19.40 | 11.01 |
| Dividend Per Share | 7.05 | 6.84 | 6.52 | 6.04 | 5.68 | 5.31 |
| Gross Margin | 44.40% | 41.90% | 39.52% | 39.29% | 38.87% | 41.00% |
| Operating Margin | 15.14% | 9.55% | 11.41% | 13.84% | 17.80% | 10.37% |
| Profit Margin | 11.92% | 6.66% | 9.03% | 10.97% | 15.03% | 10.08% |
| Free Cash Flow Margin | 15.05% | 8.98% | 7.69% | 10.15% | 15.95% | 13.63% |
| EBITDA | 58.17B | 37.63B | 39.10B | 42.18B | 57.45B | 33.63B |
| EBITDA Margin | 25.70% | 20.38% | 19.99% | 21.65% | 24.35% | 21.69% |
| D&A For EBITDA | 23.91B | 20.00B | 16.78B | 15.21B | 15.44B | 17.55B |
| EBIT | 34.26B | 17.63B | 22.32B | 26.96B | 42.01B | 16.09B |
| EBIT Margin | 15.14% | 9.55% | 11.41% | 13.84% | 17.80% | 10.37% |
| Effective Tax Rate | 29.48% | 36.76% | 35.47% | 27.63% | 28.32% | 27.50% |
| Revenue as Reported | 233.33B | 189.03B | 202.79B | 200.95B | 246.25B | 162.47B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 6.29B | 6.78B | 8.18B | 17.68B | 5.64B | |
| Short-Term Investments | 4.00M | 4.00M | 45.00M | 223.00M | 35.00M | |
| Cash & Short-Term Investments | 8.53B | 6.30B | 6.79B | 8.22B | 17.90B | 5.67B |
| Receivables | 17.88B | 20.56B | 19.77B | 20.28B | 18.17B | |
| Inventory | 9.71B | 9.07B | 8.61B | 8.25B | 6.79B | |
| Prepaid Expenses | 4.29B | 4.09B | 4.10B | 3.11B | 2.52B | |
| Restricted Cash | 174.00M | 281.00M | 275.00M | 630.00M | 333.00M | |
| Other Current Assets | 191.00M | 122.00M | 151.00M | 175.00M | 251.00M | |
| Total Current Assets | 38.55B | 40.91B | 41.13B | 50.34B | 33.74B | |
| Property, Plant & Equipment | 225.78B | 153.11B | 159.04B | 147.85B | 150.63B | |
| Long-Term Investments | 43.87B | 47.44B | 46.81B | 45.24B | 40.70B | |
| Goodwill | 4.57B | 4.58B | 4.72B | 4.72B | 4.38B | |
| Long-Term Deferred Tax Assets | 2.86B | 3.52B | 4.17B | 4.50B | 5.66B | |
| Long-Term Deferred Charges | 4.15B | 3.56B | 2.59B | |||
| Other Long-Term Assets | 4.23B | 3.82B | 3.17B | 5.05B | 4.43B | |
| Total Assets | 324.01B | 256.94B | 261.63B | 257.71B | 239.53B | |
| Accounts Payable | 19.28B | 22.08B | 20.42B | 18.95B | 16.45B | |
| Accrued Expenses | 10.46B | 8.68B | 7.91B | 7.80B | 7.39B | |
| Short-Term Debt | 96.00M | 131.00M | 469.00M | 328.00M | 62.00M | |
| Current Portion of Long-Term Debt | 95.00M | 4.22B | 1.59B | 146.00M | ||
| Current Portion of Leases | 2.62B | 1.58B | 1.60B | 1.16B | 1.04B | |
| Current Income Taxes Payable | 844.00M | 1.87B | 1.86B | 4.38B | 1.70B | |
| Total Current Liabilities | 33.39B | 38.56B | 32.26B | 34.21B | 26.79B | |
| Long-Term Debt | 39.12B | 19.59B | 19.73B | 20.97B | 30.66B | |
| Long-Term Leases | 4.81B | 4.10B | 4.27B | 3.32B | 2.96B | |
| Pension & Post-Retirement Benefits | 4.11B | 3.86B | 4.08B | 4.36B | 6.25B | |
| Long-Term Deferred Tax Liabilities | 30.01B | 19.14B | 18.83B | 17.13B | 14.66B | |
| Other Long-Term Liabilities | 20.39B | 18.54B | 20.53B | 17.48B | 18.27B | |
| Total Liabilities | 131.84B | 103.78B | 99.70B | 97.47B | 99.59B | |
| Common Stock | 1.83B | 1.83B | 1.83B | 1.83B | 1.83B | |
| Additional Paid-In Capital | 33.89B | 21.67B | 21.36B | 18.66B | 17.28B | |
| Retained Earnings | 205.37B | 205.85B | 200.03B | 190.02B | 165.55B | |
| Treasury Stock | -51.93B | -74.04B | -59.06B | -48.20B | -41.46B | |
| Comprehensive Income & Other | -2.70B | -3.00B | -3.20B | -3.04B | -4.13B | |
| Total Common Equity | 189.88B | 186.45B | 152.32B | 160.96B | 159.28B | 139.07B |
| Minority Interest | 5.73B | 839.00M | 972.00M | 960.00M | 873.00M | |
| Shareholders' Equity | 195.56B | 192.18B | 153.16B | 161.93B | 160.24B | 139.94B |
| Total Liabilities & Equity | 324.01B | 256.94B | 261.63B | 257.71B | 239.53B | |
| Total Debt | 37.08B | 46.74B | 29.61B | 26.07B | 27.37B | 34.87B |
| Net Cash (Debt) | -28.55B | -40.45B | -22.83B | -17.85B | -9.47B | -29.20B |
| Net Cash Per Share | -14.41 | -21.79 | -12.56 | -9.49 | -4.88 | -15.21 |
| Filing Date Shares Outstanding | 1.95B | 2.00B | 1.75B | 1.85B | 1.90B | 1.92B |
| Total Common Shares Outstanding | 1.95B | 1.98B | 1.75B | 1.85B | 1.90B | 1.92B |
| Working Capital | 5.17B | 2.35B | 8.87B | 16.14B | 6.95B | |
| Book Value Per Share | 96.80 | 94.15 | 86.80 | 86.93 | 83.79 | 72.60 |
| Tangible Book Value | 185.31B | 181.88B | 147.74B | 156.24B | 154.56B | 134.68B |
| Tangible Book Value Per Share | 94.47 | 91.85 | 84.19 | 84.38 | 81.30 | 70.31 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 26.98B | 12.30B | 17.66B | 21.37B | 35.47B | 15.62B |
| Depreciation & Amortization | 23.91B | 20.00B | 16.78B | 15.21B | 15.44B | 17.55B |
| Loss (Gain) From Sale of Assets | -521.00M | -462.00M | -1.69B | -138.00M | -550.00M | -1.02B |
| Asset Writedown & Restructuring Costs | 133.00M | 133.00M | 500.00M | 2.18B | 950.00M | 414.00M |
| Loss (Gain) on Equity Investments | 1.28B | 2.28B | -366.00M | -885.00M | -4.73B | -2.00B |
| Other Operating Activities | 1.35B | 1.33B | -1.50B | 1.21B | 959.00M | 282.00M |
| Change in Accounts Receivable | 3.83B | 3.83B | -932.00M | 1.19B | -2.32B | -7.55B |
| Change in Inventory | 51.00M | 51.00M | -574.00M | -320.00M | -930.00M | -530.00M |
| Change in Accounts Payable | -3.47B | -3.47B | 2.57B | -49.00M | 2.75B | 5.47B |
| Change in Income Taxes | -1.31B | -1.31B | 164.00M | -2.80B | 2.85B | 1.22B |
| Change in Other Net Operating Assets | -282.00M | -749.00M | -1.13B | -1.35B | -285.00M | -280.00M |
| Operating Cash Flow | 51.95B | 33.94B | 31.49B | 35.61B | 49.60B | 29.19B |
| Capital Expenditures | -17.88B | -17.35B | -16.45B | -15.83B | -11.97B | -8.06B |
| Sale of Property, Plant & Equipment | 1.27B | 1.68B | 7.51B | 446.00M | 1.44B | 1.35B |
| Cash Acquisitions | -1.17B | 55.00M | -2.86B | |||
| Investment in Securities | 150.00M | 150.00M | 236.00M | 398.00M | 1.32B | 438.00M |
| Other Investing Activities | 1.95B | 778.00M | -233.00M | -302.00M | -24.00M | 401.00M |
| Investing Cash Flow | -14.51B | -15.91B | -8.94B | -15.23B | -12.11B | -5.87B |
| Short-Term Debt Issued | 4.87B | 135.00M | 263.00M | |||
| Long-Term Debt Issued | 11.40B | 478.00M | 150.00M | |||
| Total Debt Issued | 4.61B | 11.40B | 5.35B | 285.00M | 263.00M | |
| Short-Term Debt Repaid | -1.06B | -5.57B | ||||
| Long-Term Debt Repaid | -4.47B | -1.78B | -4.34B | -8.74B | -7.36B | |
| Total Debt Repaid | -12.83B | -5.54B | -1.78B | -4.34B | -8.74B | -12.94B |
| Net Debt Issued (Repaid) | -8.22B | 5.87B | 3.57B | -4.05B | -8.48B | -12.94B |
| Issuance of Common Stock | 1.17B | 38.00M | ||||
| Repurchase of Common Stock | -10.82B | -11.86B | -15.04B | -14.68B | -5.42B | |
| Common Dividends Paid | -13.92B | -12.75B | -11.80B | -11.34B | -10.97B | -10.18B |
| Other Financing Activities | -520.00M | -323.00M | -195.00M | -40.00M | -114.00M | -36.00M |
| Financing Cash Flow | -32.30B | -19.06B | -23.47B | -30.11B | -24.98B | -23.11B |
| Foreign Exchange Rate Adjustments | -6.00M | 58.00M | -97.00M | -114.00M | -190.00M | -151.00M |
| Net Cash Flow | 5.14B | -977.00M | -1.01B | -9.85B | 12.33B | 58.00M |
| Free Cash Flow | 34.07B | 16.59B | 15.04B | 19.78B | 37.63B | 21.13B |
| Free Cash Flow Margin | 15.05% | 8.98% | 7.69% | 10.15% | 15.95% | 13.63% |
| Free Cash Flow Per Share | 17.20 | 8.94 | 8.28 | 10.52 | 19.40 | 11.01 |
| Levered Free Cash Flow | 13.20B | 15.73B | 14.52B | 31.69B | 18.44B | |
| Unlevered Free Cash Flow | 13.96B | 16.10B | 14.82B | 32.01B | 18.89B | |
| Cash Interest Paid | 942.00M | 942.00M | 587.00M | 465.00M | 525.00M | 699.00M |
| Cash Income Tax Paid | 7.30B | 7.30B | 8.46B | 10.42B | 9.15B | 4.36B |
| Change in Working Capital | -1.18B | -1.65B | 100.00M | -3.33B | 2.07B | -1.66B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 459.50B | 304.72B | 260.29B | 280.73B | 344.53B | 224.55B |
| Enterprise Value | 488.04B | 344.30B | 282.26B | 296.33B | 353.68B | 256.73B |
| Last Close Price | 235.52 | 148.27 | 134.66 | 132.95 | 153.94 | 97.14 |
| PE Ratio | 17.29 | 24.78 | 14.74 | 13.14 | 9.71 | 14.37 |
| Forward PE | 12.52 | 21.05 | 14.35 | 10.53 | 10.45 | 11.33 |
| PS Ratio | 2.03 | 1.65 | 1.33 | 1.44 | 1.46 | 1.45 |
| PB Ratio | 2.43 | 1.59 | 1.70 | 1.73 | 2.15 | 1.60 |
| P/TBV Ratio | 2.48 | 1.68 | 1.76 | 1.80 | 2.23 | 1.67 |
| P/FCF Ratio | 13.49 | 18.37 | 17.30 | 14.19 | 9.16 | 10.63 |
| P/OCF Ratio | 8.85 | 8.98 | 8.27 | 7.88 | 6.95 | 7.69 |
| PEG Ratio | 0.63 | 1.56 | 5.05 | 2.24 | 2.56 | 0.25 |
| EV/Sales Ratio | 2.16 | 1.86 | 1.44 | 1.52 | 1.50 | 1.66 |
| EV/EBITDA Ratio | 8.39 | 9.15 | 7.22 | 7.03 | 6.16 | 7.63 |
| EV/EBIT Ratio | 14.25 | 19.53 | 12.65 | 10.99 | 8.42 | 15.96 |
| EV/FCF Ratio | 14.32 | 20.75 | 18.76 | 14.98 | 9.40 | 12.15 |
| Debt / Equity Ratio | 0.19 | 0.24 | 0.19 | 0.16 | 0.17 | 0.25 |
| Debt / EBITDA Ratio | 0.64 | 1.24 | 0.76 | 0.62 | 0.48 | 1.04 |
| Debt / FCF Ratio | 1.09 | 2.82 | 1.97 | 1.32 | 0.73 | 1.65 |
| Net Debt / Equity Ratio | 0.15 | 0.21 | 0.15 | 0.11 | 0.06 | 0.21 |
| Net Debt / EBITDA Ratio | 0.49 | 1.07 | 0.58 | 0.42 | 0.17 | 0.87 |
| Net Debt / FCF Ratio | 0.84 | 2.44 | 1.52 | 0.90 | 0.25 | 1.38 |
| Asset Turnover | 0.64 | 0.75 | 0.75 | 0.95 | 0.65 | |
| Inventory Turnover | 11.42 | 13.37 | 14.03 | 19.18 | 14.67 | |
| Quick Ratio | 0.72 | 0.71 | 0.87 | 1.12 | 0.89 | |
| Current Ratio | 1.16 | 1.06 | 1.27 | 1.47 | 1.26 | |
| Return on Equity (ROE) | 7.23% | 11.27% | 13.29% | 23.72% | 11.51% | |
| Return on Assets (ROA) | 3.79% | 5.38% | 6.49% | 10.56% | 4.20% | |
| Return on Invested Capital (ROIC) | 10.78% | 5.46% | 8.10% | 11.17% | 17.77% | 6.77% |
| Return on Capital Employed (ROCE) | 6.10% | 10.20% | 11.80% | 18.80% | 7.60% | |
| Earnings Yield | 5.78% | 4.04% | 6.78% | 7.61% | 10.29% | 6.96% |
| FCF Yield | 7.42% | 5.45% | 5.78% | 7.05% | 10.92% | 9.41% |
| Dividend Yield | 3.02% | 4.45% | 4.40% | 3.98% | 3.13% | 4.53% |
| Payout Ratio | 52.27% | 103.68% | 66.82% | 53.05% | 30.93% | 65.15% |
| Buyback Yield / Dilution | -10.04% | -2.15% | 3.35% | 3.09% | -1.04% | -2.67% |
| Total Shareholder Return | -7.02% | 2.30% | 7.75% | 7.08% | 2.09% | 1.86% |