COVERAGE / CVX / Energy

CHEVRON CORP

Petroleum Refining

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$184.43bn

Prior / $193.41bn

Change / -4.64%

SOURCE / 2026-02-24

Operating income

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Net income

$12.3bn

Prior / $17.66bn

Change / -30.36%

SOURCE / 2026-02-24

Diluted EPS

$6.63

Prior / $9.72

Change / -31.79%

SOURCE / 2026-02-24

Free cash flow

Not available

Prior / Not available

Change / Unavailable

SOURCE / 2026-02-24

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Return on avg. equity

7.26%

Prior / 11.28%

Change / -4.01 pp

SOURCE / 2026-02-24

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 184432000000,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "frame": "CY2025",
    "tag": "us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 12299000000,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 6.63,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 33939000000,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 324012000000,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 131836000000,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 186450000000,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2025-12-31",
    "val": 38552000000,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2025-12-31",
    "val": 33387000000,
    "accn": "0000093410-26-000078",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-24",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$184.43bn	$12.3bn	Not available	$6.63
2024-12-31	$193.41bn	$17.66bn	Not available	$9.72
2023-12-31	$196.91bn	$21.37bn	Not available	$11.36
2022-12-31	$235.72bn	$35.47bn	Not available	$18.28

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	31.91x	Unavailable	28.66x	8
P/S	2.27x	Unavailable	2.09x	8
P/B	2.24x	Unavailable	2.97x	8
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	Unavailable	Unavailable	5.11%	2

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-06-30 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 211.57,
  "tradingDate": "2026-09-17",
  "marketCap": 418013928440.18,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-06-30"
}

Company & operating context

CHEVRON CORP is an SEC-reporting issuer listed on NYSE under CVX. Its SEC industry description is Petroleum Refining. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Producers, refiners and service providers respond differently to commodity prices, project spending and capacity utilization.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-02-24PERIOD / 2025-12-31

CVX filed this 10-K on 2026-02-24 for the reported period 2025-12-31. Reading focus: Realized prices, production volumes, refining economics and capital expenditure. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0047CVXEarnings Review

CVX: the annual earnings and cash-flow comparison ↗

CHEVRON CORP

Research abstract

A two-period review of CVX revenue, profitability and cash conversion; reported revenue growth was -4.64%.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

HR-0048CVXCompany Research

CVX: reading the FY2025 financial structure ↗

CHEVRON CORP

Research abstract

Annual revenue of USD 184.432 billion and net income of USD 12.299 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Commodity cycles, project execution, reserve replacement, environmental liabilities and geopolitical exposure.

Realized prices, production volumes, refining economics and capital expenditure.

ENERGY SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-24
SEC annual filing · 2024-12-31 ↗Source date 2026-02-24
SEC annual filing · 2023-12-31 ↗Source date 2026-02-24
SEC annual filing · 2022-12-31 ↗Source date 2025-02-21
SEC issuer record ↗Source date 2026-09-18