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Chevron Corp.
CVXEnergyGenerated Jul 5, 2026, 08:12 PM UTC
CVX (Chevron Corp.) analytical snapshot. Revenue declined +18.4% YoY to $200.95B. 5-year revenue CAGR +6.5%; 10y CAGR -0.6%. Net margin at 10.63% (expanding ▲). Market cap $336.98B at $169.20 per share. Trailing P/E 14.89, P/S 1.68, P/B 1.83. Graham number $153.55 (trades above intrinsic). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -22 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$336.98B
1.99B shares
Price
$169.20
NYQ
P/E (ttm)
14.89
Revenue (FY)
$200.95B
YoY -18.4%
Net margin
10.63%
▲ 16.49pp
Free cash flow
$19.78B
9.84% margin
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score -20Deteriorating
80% conf
Revenue declined +18.4% YoY to $200.95B. 5-year revenue CAGR +6.5%; 10y CAGR -0.6%. Net margin at 10.63% (expanding ▲).
- Revenue declined +18.4% YoY to $200.95B.
- 5-year revenue CAGR +6.5%; 10y CAGR -0.6%.
- Net margin at 10.63% (expanding ▲).
- Return on equity 14.03%, ROA 8.32%, ROIC 0.00%.
- Gross margin 0.00%, operating margin 0.00%.
- Free cash flow margin 9.84% ($19.78B).
- Net income down ▼ +39.7% YoY.
- Debt/equity 0.14, current ratio 1.09, net debt $21.67B.
- Asset turnover 0.61 — capital efficiency.
Revenue (FY)
$200.95B
YoY -18.4%
Net margin
10.63%
▲ 16.49pp
ROE
14.03%
ROA 8.32%
ROIC
0.00%
EPS (diluted)
$11.36
FY2025
Free cash flow
$19.78B
9.84% margin
Debt / equity
0.14
Cash $4.01B
Current ratio
1.09
Equity $183.72B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | $211.97B | — | 0.00 | 0.00 | 9.08 | -$3.93B | 12.60 |
| 2017 | $138.48B | -34.7% | 0.00 | 0.00 | 3.31 | -$10.05B | 3.15 |
| 2018 | $114.47B | -17.3% | 0.00 | 0.00 | -0.43 | -$5.42B | -0.34 |
| 2019 | $141.72B | +23.8% | 0.00 | 0.00 | 6.49 | $6.93B | 5.95 |
| 2020 | $166.34B | +17.4% | 0.00 | 0.00 | 8.91 | $16.83B | 10.28 |
| 2021 | $146.52B | -11.9% | 0.00 | 0.00 | 2.00 | $13.20B | 2.22 |
| 2022 | $94.69B | -35.4% | 0.00 | 0.00 | -5.85 | $1.66B | -3.99 |
| 2023 | $162.47B | +71.6% | 0.00 | 0.00 | 9.62 | $21.13B | 9.81 |
| 2024 | $246.25B | +51.6% | 0.00 | 0.00 | 14.40 | $37.63B | 22.03 |
| 2025 | $200.95B | -18.4% | 0.00 | 0.00 | 10.63 | $19.78B | 14.03 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $47.61B | -2.3% | — | 7.35% |
| Jun 30, 2025 | $92.43B | -7.5% | +94.1% | 6.48% |
| Jun 30, 2025 | $44.82B | -55.1% | -51.5% | 13.36% |
| Sep 30, 2025 | $142.16B | -5.6% | +217.2% | 6.70% |
| Sep 30, 2025 | $49.73B | -67.0% | -65.0% | 19.16% |
| Mar 31, 2026 | $48.61B | +2.1% | -2.3% | 4.55% |
Revenue (annual, SEC 10-K)
2016: 211,970
2017: 138,477
2018: 114,472
2019: 141,722
2020: 166,339
2021: 146,516
2022: 94,692
2023: 162,465
2024: 246,252
2025: 200,949
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2016: -3,932
2017: -10,048
2018: -5,419
2019: 6,934
2020: 16,826
2021: 13,198
2022: 1,655
2023: 21,131
2024: 37,628
2025: 19,780
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 20Improving
80% conf
Latest annual report (10-K) filed Feb 24, 2026. Latest quarterly report (10-Q) filed May 7, 2026. 8 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 24, 2026.
- Latest quarterly report (10-Q) filed May 7, 2026.
- 8 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Chevron Corp.; broad institutional reporting.
- Recent filers include Axiom Investment Management LLC, BERKSHIRE HATHAWAY INC (BRK-A, BRK-B), Capital Wealth Planning, LLC.
- 20 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 24, 2026
Annual report
Latest 10-Q
May 7, 2026
8-K (recent)
8
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
0
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Axiom Investment Management LLC | 13F-HR | Feb 14, 2023 |
| BERKSHIRE HATHAWAY INC (BRK-A, BRK-B) | 13F-HR | Nov 14, 2022 |
| Capital Wealth Planning, LLC | 13F-HR | May 14, 2019 |
| Capital Wealth Planning, LLC | 13F-HR | Feb 13, 2019 |
| BERKSHIRE HATHAWAY INC (BRK-A, BRK-B) | 13F-HR | Feb 14, 2023 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| May 29, 2026 | 8-K | 8-K |
| May 29, 2026 | 8-K | 8-K |
| May 1, 2026 | 8-K | 8-K |
| Apr 9, 2026 | 8-K | 8-K |
| Mar 25, 2026 | 8-K | 8-K |
| Jan 30, 2026 | 8-K | 8-K |
| Jan 30, 2026 | 8-K | 8-K |
| Jan 27, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -65Deteriorating
68% conf
5 risk signal(s), 1 positive signal(s) detected from XBRL filing diff analysis. Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Inventory buildup exceeds sales growth: Inventory grew +5.4% vs revenue -18.4%. Excess inventory may signal weakening demand, potential write-downs, or supply chain overcommitment. Watch gross margin for discounting impact.
- Free cash flow deteriorating: FCF declined +47.4% YoY (from $37.63B to $19.78B). With OCF at $35.61B and capex at $15.83B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- NEW: Going concern doubt in latest filing: The term "going concern" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 2 filing(s).
- Material weakness in internal controls: The term "material weakness" appears in 20 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- NEW: Substantial doubt about ability to continue in latest filing: The term "substantial doubt" "ability to continue" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
- Operating cash flow exceeds net income: OCF is 1.67x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Endogenous analysis: The combination of explicit "going concern" language in the filing with deteriorating cash flow or rising leverage is a severe warning signal — the company's own auditors have flagged doubt about the ability to continue as a going concern.
- 3 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Going concern doubt, Substantial doubt about ability to continue.
- Ongoing high-severity risk language: Material weakness in internal controls.
Revenue
$200.95B
-18.4% YoY
Net income
$21.37B
-39.7% YoY
Operating cash flow
$35.61B
-28.2% YoY
Capex
$15.83B
+32.2% YoY
Total assets
$256.94B
-1.8% YoY
Total liabilities
$103.78B
+4.1% YoY
Long-term debt
$25.68B
0.0% YoY
Cash & equivalents
$5.64B
+0.8% YoY
Filing quality score
76/100
3 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $246.25B | $200.95B | $-45.30B | -18.4% |
| Net income | $35.47B | $21.37B | $-14.10B | -39.7% |
| Operating cash flow | $49.60B | $35.61B | $-13.99B | -28.2% |
| Capex | $11.97B | $15.83B | $3.85B | +32.2% |
| Total assets | $261.63B | $256.94B | $-4.69B | -1.8% |
| Total liabilities | $99.70B | $103.78B | $4.08B | +4.1% |
| Long-term debt | $25.68B | $25.68B | $0 | 0.0% |
| Cash & equivalents | $5.60B | $5.64B | $44.0M | +0.8% |
| Stockholders equity | $160.96B | $152.32B | $-8.64B | -5.4% |
| Inventory | $8.61B | $9.07B | $462.0M | +5.4% |
| Accounts receivable | $18.34B | $15.99B | $-2.35B | -12.8% |
| R&D expense | $268.0M | $320.0M | $52.0M | +19.4% |
| SG&A expense | $4.31B | $4.14B | $-171.0M | -4.0% |
| Interest expense | $516.0M | $469.0M | $-47.0M | -9.1% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | AssetsFairValueDisclosure, DerivativeCollateralObligationToReturnCash, LiabilitiesFairValueDisclosure |
| Removed | AccretionExpense, AccrualForEnvironmentalLossContingencies, AssetImpairmentCharges, AssetRetirementObligation, AssetRetirementObligationAccretionExpense, AssetRetirementObligationLiabilitiesIncurred, AssetRetirementObligationLiabilitiesSettled, AssetRetirementObligationRevisionOfEstimate, AssetRetirementObligationsNoncurrent, BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 2 | 0 | NEW |
| Material weakness in internal controls | high | 20 | 2 | Ongoing |
| Substantial doubt about ability to continue | high | 1 | 0 | NEW |
| Impairment charge | medium | 28 | 2 | Ongoing |
| Restructuring | medium | 70 | 2 | Ongoing |
| Off-balance sheet arrangements | medium | 73 | 2 | Ongoing |
| Related party transactions | low | 27 | 8 | Ongoing |
Filing signal breakdown
Red flags: 5
Positive: 1
Watch: 0
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $336.98B at $169.20 per share.
- ProPrice & TechnicalsPrice $169.20 — downtrend (below 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Moderate.
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3 sections free · 4 Pro sections locked · composite -22
Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Chevron Corp. is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewLatest annual report (10-K) filed Feb 24, 2026..
Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow CVX stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Marathon Petroleum MPC | 25 | Supportive |
| Nike Inc. NKE | 24 | Supportive |
| Airbnb Inc. ABNB | 22 | Supportive |
| Datadog Inc. DDOG | 16 | Supportive |
| Okta Inc. OKTA | 15 | Supportive |
| Valero Energy VLO | 13 | Supportive |
| Deere & Co. DE | 12 | Supportive |
| ASML Holding NV ASML | 10 | Supportive |
| Marriott International MAR | 10 | Supportive |
| GE Aerospace GE | 10 | Supportive |
| United Parcel Service UPS | 9 | Supportive |
| Snowflake Inc. SNOW | 8 | Supportive |
| Cloudflare Inc. NET | 8 | Supportive |
| NVIDIA Corp. NVDA | 7 | Supportive |
| Alphabet Inc. GOOGL | 7 | Supportive |
| General Motors Co. GM | 7 | Supportive |
| Booking Holdings BKNG | 6 | Supportive |
| Nucor Corp. NUE | 5 | Supportive |
| Shopify Inc. SHOP | 5 | Supportive |
| Ulta Beauty Inc. ULTA | 5 | Supportive |
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| Amazon.com Inc. AMZN | 4 | Supportive |
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| Adobe Inc. ADBE | 3 | Supportive |
| Intuit Inc. INTU | 2 | Supportive |
| General Dynamics GD | 1 | Supportive |
| Roku Inc. ROKU | 1 | Supportive |
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| Boeing Co. BA | 0 | Supportive |
| Hess Corp. HES | 0 | Supportive |
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