CVX logo Chevron Corporation +
Ticker
CVX
XOM
Headquarter
San Ramon ,CA
US
Irving ,TX
US
CEO
Michael K. Wirth
Darren W. Woods
Industry
Oil & Gas Integrated
Oil & Gas Integrated
Stock Price
Stock Price
Market Cap
Market Cap
$373.38 B
$643.52 B
Employees
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Employees
  • 45.60 K
  • 45.30 K
  • 0
  • 61.50 K
  • 61.00 K
  • 58.00 K
Y/Y
4%
0.66%
100%
1.28%
0.81%
4.92%

Income Statement

Revenue
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Revenue
  • $196.91 B
  • $193.41 B
  • $187.03 B
  • $334.70 B
  • $339.25 B
  • $323.91 B
Y/Y
16.46%
1.78%
3.3%
16.05%
1.36%
4.52%
Revenue by Products / Services
Years
  • 2025
  • 2025
Revenue by Geography
Years
  • 2025
  • 2025
Research and Development
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Research and Development
  • $320.00 M
  • $353.00 M
  • -
  • $879.00 M
  • $987.00 M
  • -
Y/Y
19.4%
10.31%
100%
6.67%
12.29%
100%
Operating Income
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Operating Income
  • $33.79 B
  • $29.10 B
  • $10.96 B
  • $44.46 B
  • $39.65 B
  • $33.94 B
Y/Y
15.42%
13.88%
62.35%
30.56%
10.82%
14.41%
Tax Rate (%)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Tax Rate (%)
  • 27.63%
  • 35.47%
  • 36.76%
  • 29.23%
  • 28.26%
  • 27.88%
Y/Y
2.44%
28.4%
3.64%
12.65%
3.33%
1.35%
Net Income
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Net Income
  • $21.37 B
  • $17.66 B
  • $12.39 B
  • $36.01 B
  • $33.68 B
  • $28.84 B
Y/Y
39.75%
17.35%
29.87%
35.4%
6.47%
14.36%
Revenue Per Employee
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Revenue Per Employee
  • $4.24 M
  • $4.13 M
  • -
  • $5.52 M
  • $5.31 M
  • -
Y/Y
5.56%
2.66%
100%
2.68%
3.74%
100%
Net Income Per Employee
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Net Income Per Employee
  • $387.30 K
  • $273.43 K
  • -
  • $547.64 K
  • $472.85 K
  • -
Y/Y
20.53%
29.4%
100%
5.25%
13.66%
100%

Assets & Liabilities | Cash Flow

Total Assets
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Total Assets
  • $261.63 B
  • $256.94 B
  • $324.01 B
  • $376.32 B
  • $453.48 B
  • $448.98 B
Y/Y
1.52%
1.79%
26.11%
1.96%
20.5%
0.99%
Total Liabilities
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Total Liabilities
  • $99.70 B
  • $103.78 B
  • $137.56 B
  • $163.78 B
  • $182.87 B
  • $182.35 B
Y/Y
2.29%
4.09%
32.55%
1.69%
11.66%
0.28%
Capital Expenditures (Capex)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Capital Expenditures (Capex)
  • -$15.83 B
  • -$16.45 B
  • -$17.30 B
  • -$21.92 B
  • -$24.31 B
  • -$28.36 B
Y/Y
32.19%
3.91%
5.18%
19.08%
10.89%
16.67%

Profitability

Operating Income Margin (%)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Operating Income Margin (%)
  • 17.16%
  • 15.04%
  • 5.86%
  • 13.28%
  • 11.69%
  • 10.48%
Y/Y
1.25%
12.32%
61.07%
17.29%
12.01%
10.36%
Net Income Margin (%)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Net Income Margin (%)
  • 10.85%
  • 9.13%
  • 6.58%
  • 10.76%
  • 9.93%
  • 8.91%
Y/Y
27.87%
15.86%
27.98%
23.05%
7.72%
10.3%
EBITDA
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
EBITDA
  • $47.82 B
  • $45.81 B
  • $41.09 B
  • $74.27 B
  • $73.31 B
  • $67.86 B
Y/Y
28.63%
4.19%
10.3%
27.6%
1.3%
7.43%
Free Cash Flow (FCF)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Free Cash Flow (FCF)
  • $19.78 B
  • $15.04 B
  • $16.60 B
  • $33.45 B
  • $30.72 B
  • $23.61 B
Y/Y
47.43%
23.94%
10.34%
42.71%
8.17%
23.13%

Ratios

Return on Equity (ROE)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Return on Equity (ROE)
  • 13.28%
  • 11.59%
  • 0.00%
  • 17.58%
  • 12.77%
  • 11.12%
Y/Y
40.37%
12.66%
100%
38.47%
27.36%
12.93%
Return on Assets (ROA)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Return on Assets (ROA)
  • 8.17%
  • 6.87%
  • 0.00%
  • 9.57%
  • 7.43%
  • 6.42%
Y/Y
40.65%
15.84%
100%
36.64%
22.38%
13.5%
Debt to Equity
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Debt to Equity
  • 12.95%
  • 16.11%
  • 21.86%
  • 20.30%
  • 15.82%
  • 16.78%
Y/Y
11.65%
24.46%
35.68%
3.88%
22.08%
6.12%

Valuation

Enterprise Value
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value
  • $292.00 B
  • $279.92 B
  • $0.00
  • $415.01 B
  • $481.02 B
  • $32.86 B
Y/Y
17.13%
4.14%
100%
12.7%
15.9%
93.17%
Enterprise value to Revenue
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value to Revenue
  • 1.48
  • 1.45
  • 0.00
  • 1.24
  • 1.42
  • 0.10
Y/Y
0.8%
2.4%
100%
3.99%
14.35%
92.85%
Enterprise value to EBITDA
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value to EBITDA
  • 6.11
  • 6.11
  • 0.00
  • 5.59
  • 6.56
  • 0.48
Y/Y
16.11%
0.06%
100%
20.59%
17.42%
92.62%