Chevron (CVX) Stock Analysis

June 13, 2026

Here is a fundamental analysis of Chevron (CVX), benchmarking its profitability, financial strength, dividend and valuation against its industry group peers.

Performance

Cumulative Growth

CVX

GSPC

Chevron (CVX) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Chevron (CVX) and S&P 500 (GSPC). Returns over one year are annualized.

Performance at a Glance

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
1-Year Return	34.55%	49.94%

Risk

Drawdown

CVX

GSPC

Chevron (CVX) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Risk at a Glance

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
1-Year Volatility	22.11%	41.13%
Beta	0.48	0.58

Company Profile

Company profile fields for Chevron (CVX)
Profile Item	CVX
Name	Chevron Corporation
Country/Region	United States
GICS Sector	Energy
GICS Industry Group	Energy
GICS Industry	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Integrated Oil & Gas
Market Capitalization	372.87 billion USD
Currency	USD
Exchange	NYSE
Listing Date	January 2, 1962
Security Type	Common Stock

Valuation

Price-to-Earnings Ratio (TTM)

Chevron (CVX) trades at P/E ratio of 32.56, in the richer earnings-multiple quartile for its industry. That premium needs support from growth, durable earnings, or stronger business quality.

CVX

Energy industry group

32.56

Group distribution

Max: 59.12
CVX: 32.56
Q3: 31.56
Median: 18.65
Q1: 10.91
Min: 1.74

Largest peers

CVX: 32.56
ENB: 26.78
XOM: 24.75
COP: 19.83
SHEL: 13.34
TTE: 13.06
PBR: 5.87

Where Chevron (CVX) stands on P/E ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Price-to-Sales Ratio (TTM)

Chevron (CVX) trades at 2.01 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

CVX

Energy industry group

2.01

Group distribution

Max: 5.26
Q3: 3.09
CVX: 2.01
Median: 1.90
Q1: 1.06
Min: 0.00

Largest peers

COP: 2.40
CVX: 2.01
XOM: 1.87
ENB: 1.79
TTE: 1.06
SHEL: 0.89
PBR: 0.24

Where Chevron (CVX) stands on P/S ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Price-to-Book Ratio (MRQ)

Chevron (CVX) trades at 2.02 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

CVX

Energy industry group

2.02

Group distribution

Max: 5.53
Q3: 2.95
CVX: 2.02
Median: 1.81
Q1: 1.21
Min: -0.02

Largest peers

ENB: 2.96
XOM: 2.37
COP: 2.21
CVX: 2.02
TTE: 1.64
PBR: 1.42
SHEL: 1.40

Where Chevron (CVX) stands on P/B ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Valuation at a Glance

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Price-to-Earnings Ratio (TTM)	32.56	18.65
Price-to-Sales Ratio (TTM)	2.01	1.90
Price-to-Book Ratio (MRQ)	2.02	1.81
Free Cash Flow Yield	3.16%	3.41%

Profitability

Return on Equity (TTM)

Chevron (CVX) posts ROE of 6.64%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

CVX

Energy industry group

6.64%

Group distribution

Max: 37.23%
Q3: 16.04%
Median: 9.26%
CVX: 6.64%
Q1: -0.84%
Min: -20.70%

Largest peers

PBR: 25.60%
TTE: 12.51%
COP: 11.28%
SHEL: 10.70%
ENB: 10.13%
XOM: 9.87%
CVX: 6.64%

Where Chevron (CVX) stands on ROE within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Net Profit Margin (TTM)

Chevron (CVX) keeps 5.93% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

CVX

Energy industry group

5.93%

Group distribution

Max: 46.37%
Q3: 18.61%
Median: 6.23%
CVX: 5.93%
Q1: 0.00%
Min: -27.23%

Largest peers

PBR: 21.60%
COP: 12.33%
ENB: 10.00%
TTE: 8.20%
XOM: 7.77%
SHEL: 7.01%
CVX: 5.93%

Where Chevron (CVX) stands on net margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Operating Profit Margin (TTM)

Chevron (CVX) turns 7.31% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

CVX

Energy industry group

7.31%

Group distribution

Max: 68.02%
Q3: 28.39%
Median: 11.81%
CVX: 7.31%
Q1: 0.00%
Min: -41.46%

Largest peers

PBR: 31.95%
COP: 22.05%
TTE: 20.35%
SHEL: 14.87%
ENB: 14.73%
CVX: 7.31%
XOM: 6.36%

Where Chevron (CVX) stands on operating margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Profitability at a Glance

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Return on Equity (TTM)	6.64%	9.26%
Return on Assets (TTM)	3.46%	4.22%
Net Profit Margin (TTM)	5.93%	6.23%
Operating Profit Margin (TTM)	7.31%	11.81%
Gross Profit Margin (TTM)	42.42%	39.48%

Financial Strength

Current Ratio (MRQ)

Chevron (CVX) has current ratio of 1.09, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

CVX

Energy industry group

1.09

Group distribution

Max: 3.33
Q3: 2.13
Median: 1.31
CVX: 1.09
Q1: 0.83
Min: 0.08

Largest peers

COP: 1.29
SHEL: 1.28
CVX: 1.09
TTE: 1.08
XOM: 1.04
ENB: 0.81
PBR: 0.74

Where Chevron (CVX) stands on current ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Debt-to-Equity Ratio (MRQ)

Chevron (CVX) has debt-to-equity ratio of 0.24, in the lower-leverage quartile for its industry. Borrowing is modest relative to equity compared with most peers, which can leave more flexibility through a cycle.

CVX

Energy industry group

0.24

Group distribution

Max: 2.00
Q3: 0.99
Median: 0.61
Q1: 0.31
CVX: 0.24
Min: 0.00

Largest peers

ENB: 1.60
PBR: 0.83
TTE: 0.51
SHEL: 0.43
COP: 0.36
CVX: 0.24
XOM: 0.18

Where Chevron (CVX) stands on debt-to-equity ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength at a Glance

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Current Ratio (MRQ)	1.09	1.31
Debt-to-Equity Ratio (MRQ)	0.24	0.61
Net Debt / EBITDA	1.06	1.40

Dividends

Dividend Yield (TTM)

Chevron (CVX) has dividend yield of 3.80%, in the upper peer-yield quartile while still inside the industry range. The dividend offers more cash income per dollar of share price than most peers, though payout coverage still matters.

CVX

Energy industry group

3.80%

Group distribution

Max: 9.21%
CVX: 3.80%
Q3: 3.69%
Median: 1.84%
Q1: 0.00%
Min: 0.00%

Largest peers

PBR: 9.56%
ENB: 4.98%
TTE: 4.79%
CVX: 3.80%
SHEL: 3.65%
COP: 2.87%
XOM: 2.80%

Where Chevron (CVX) stands on dividend yield within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Chevron (CVX) has payout ratio of 120.38%, meaning dividends exceeded current-period earnings. The gap would need to be covered by cash, retained earnings, financing, or other sources, so earnings alone do not support the payout.

CVX

Energy industry group

120.38%

Group distribution

Max: 139.86%
CVX: 120.38%
Q3: 61.97%
Median: 31.01%
Q1: 0.00%
Min: 0.00%

Largest peers

ENB: 128.73%
CVX: 120.38%
XOM: 68.01%
TTE: 58.84%
COP: 54.92%
SHEL: 45.05%
PBR: 41.58%

Where Chevron (CVX) stands on payout ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividends at a Glance

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Dividend Yield (TTM)	3.80%	1.84%
Dividend Payout Ratio (TTM)	120.38%	31.01%