Chevron (CVX) Stock Analysis

October 26, 2026

This is a peer-relative look at Chevron (CVX): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Energy peers, so every number reads in context rather than in isolation.

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	457.47 billion USD
Currency	USD
Exchange	NYSE
Listing Date	January 2, 1962
Security Type	Common Stock

Price 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.

Calendar-Year Returns

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Calendar-year total returns for Chevron (CVX) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Total Return (1Y)	54.83%	46.31%
Total Return (3Y, Annualized)	18.06%	16.08%
Total Return (5Y, Annualized)	20.36%	18.21%

Risk Profile

Drawdown History

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.

Return Distribution

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Distribution of monthly total returns for Chevron (CVX) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Volatility (1Y, Annualized)	24.17%	40.28%
Beta (5Y)	0.48	0.64
Max Drawdown (5Y)	-24.95%	-52.45%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. CVX is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Sharpe Ratio (1Y)	2.09	1.14
Sortino Ratio (1Y)	3.15	1.76

Profitability

ROE (TTM)

Chevron (CVX) posts ROE of 12.23%, 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

12.23%

Group distribution

Max: 42.10%
Q3: 21.09%
CVX: 12.23%
Median: 11.52%
Q1: 1.53%
Min: -26.68%

Largest peers

PBR: 30.27%
PBR.A: 30.27%
TTE: 14.48%
SHEL: 14.34%
COP: 14.18%
XOM: 12.58%
CVX: 12.23%

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 Margin (TTM)

Chevron (CVX) keeps 9.83% 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

9.83%

Group distribution

Max: 54.76%
Q3: 22.70%
CVX: 9.83%
Median: 8.93%
Q1: 0.84%
Min: -31.11%

Largest peers

PBR: 24.32%
PBR.A: 24.32%
COP: 14.40%
CVX: 9.83%
TTE: 9.08%
XOM: 9.07%
SHEL: 8.76%

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 Margin (TTM)

Chevron (CVX) turns 21.87% 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

21.87%

Group distribution

Max: 83.65%
Q3: 44.13%
Median: 23.20%
CVX: 21.87%
Q1: 8.91%
Min: -9.47%

Largest peers

PBR: 44.68%
PBR.A: 44.68%
COP: 31.51%
CVX: 21.87%
SHEL: 16.69%
XOM: 15.86%
TTE: 12.79%

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 Metrics

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
ROE (TTM)	12.23%	11.52%
ROA (TTM)	5.86%	4.85%
Net Margin (TTM)	9.83%	8.93%
Operating Margin (TTM)	21.87%	23.20%
Gross Margin (TTM)	44.27%	45.19%

Growth

Revenue Growth

Chevron (CVX) grew revenue -4.64%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Chevron (CVX): Revenue Growth across different time periods, set against Energy industry-group medians.

EPS Growth

Chevron (CVX) grew earnings per share -31.79%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Chevron (CVX): EPS Growth across different time periods, set against Energy industry-group medians.

Growth Metrics

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Revenue Growth (YoY)	-4.64%	0.51%
Revenue Growth (3Y CAGR)	-7.85%	0.46%
EPS Growth (YoY)	-31.79%	-12.75%
EPS Growth (3Y CAGR)	-28.69%	-12.24%

Financial Strength

Current Ratio (MRQ)

Chevron (CVX) has current ratio of 1.25, 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

1.25

Group distribution

Max: 4.12
Q3: 2.20
Median: 1.44
CVX: 1.25
Q1: 0.88
Min: 0.24

Largest peers

COP: 1.54
SHEL: 1.44
CVX: 1.25
XOM: 1.14
TTE: 1.06
PBR: 0.85
PBR.A: 0.85

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 / Equity (MRQ)

Chevron (CVX) has debt-to-equity ratio of 0.19, 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

0.19

Group distribution

Max: 2.00
Q3: 1.00
Median: 0.56
Q1: 0.28
CVX: 0.19
Min: 0.00

Largest peers

PBR: 0.76
PBR.A: 0.76
TTE: 0.48
SHEL: 0.40
COP: 0.36
CVX: 0.19
XOM: 0.16

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 Metrics

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Current Ratio (MRQ)	1.25	1.44
Debt / Equity (MRQ)	0.19	0.56
Net Debt / EBITDA	0.56	1.28

Dividends

Dividend Yield (TTM)

Chevron (CVX) has dividend yield of 3.08%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

CVX

Energy industry group

3.08%

Group distribution

Max: 8.06%
Q3: 3.28%
CVX: 3.08%
Median: 1.58%
Q1: 0.00%
Min: 0.00%

Largest peers

PBR.A: 16.01%
PBR: 14.31%
TTE: 4.45%
CVX: 3.08%
XOM: 2.29%
COP: 2.27%
SHEL: 1.43%

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 67.18%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.

CVX

Energy industry group

67.18%

Group distribution

Max: 147.68%
CVX: 67.18%
Q3: 59.19%
Median: 26.70%
Q1: 0.00%
Min: 0.00%

Largest peers

CVX: 67.18%
XOM: 52.51%
TTE: 49.62%
COP: 43.71%
SHEL: 32.64%
PBR: 28.93%
PBR.A: 28.93%

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.

Dividend Metrics

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
Dividend Yield (TTM)	3.08%	1.58%
Dividend Payout Ratio (TTM)	67.18%	26.70%

Valuation

P/E Ratio (TTM)

Chevron (CVX) trades at P/E ratio of 22.45, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

CVX

Energy industry group

22.45

Group distribution

Max: 46.52
Q3: 25.52
CVX: 22.45
Median: 15.71
Q1: 9.56
Min: 2.36

Largest peers

XOM: 23.58
CVX: 22.45
COP: 19.97
SHEL: 11.94
TTE: 11.61
PBR: 6.61
PBR.A: 5.94

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.

P/S Ratio (TTM)

Chevron (CVX) trades at 2.18 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

2.18

Group distribution

Max: 6.10
Q3: 3.22
CVX: 2.18
Median: 2.06
Q1: 1.07
Min: 0.00

Largest peers

COP: 2.81
CVX: 2.18
XOM: 2.09
TTE: 1.04
SHEL: 1.04
PBR: 0.31
PBR.A: 0.29

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.

P/B Ratio (MRQ)

Chevron (CVX) trades at 2.41 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

2.41

Group distribution

Max: 4.69
Q3: 2.65
CVX: 2.41
Median: 1.77
Q1: 1.26
Min: 0.01

Largest peers

XOM: 2.90
COP: 2.77
CVX: 2.41
PBR: 1.76
SHEL: 1.67
TTE: 1.61
PBR.A: 1.58

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 Metrics

Chevron (CVX) metric values compared with Energy industry-group medians
Metric	Current stock: CVX	Industry group median
P/E Ratio (TTM)	22.45	15.71
P/S Ratio (TTM)	2.18	2.06
P/B Ratio (MRQ)	2.41	1.77
Free Cash Flow Yield (TTM)	4.79%	4.12%