CHEVRON CORP (CVX) Fundamental Analysis & Valuation
NYSE:CVX • US1667641005
Current stock price
190.1 USD
+1.74 (+0.92%)
Last:
This CVX fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. CVX Profitability Analysis
1.1 Basic Checks
- CVX had positive earnings in the past year.
- In the past year CVX had a positive cash flow from operations.
- Each year in the past 5 years CVX has been profitable.
- Each year in the past 5 years CVX had a positive operating cash flow.
1.2 Ratios
- CVX has a Return On Assets of 3.80%. This is comparable to the rest of the industry: CVX outperforms 53.59% of its industry peers.
- Looking at the Return On Equity, with a value of 6.60%, CVX is in line with its industry, outperforming 49.76% of the companies in the same industry.
- CVX's Return On Invested Capital of 3.96% is on the low side compared to the rest of the industry. CVX is outperformed by 62.68% of its industry peers.
- CVX had an Average Return On Invested Capital over the past 3 years of 6.06%. This is significantly below the industry average of 22.52%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.8% | ||
| ROE | 6.6% | ||
| ROIC | 3.96% |
ROA(3y)6.28%
ROA(5y)7.82%
ROE(3y)10.49%
ROE(5y)12.99%
ROIC(3y)6.06%
ROIC(5y)7.07%
1.3 Margins
- CVX has a Profit Margin (6.67%) which is comparable to the rest of the industry.
- CVX's Profit Margin has declined in the last couple of years.
- CVX has a Operating Margin (9.77%) which is comparable to the rest of the industry.
- CVX's Operating Margin has declined in the last couple of years.
- The Gross Margin of CVX (41.33%) is comparable to the rest of the industry.
- In the last couple of years the Gross Margin of CVX has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 9.77% | ||
| PM (TTM) | 6.67% | ||
| GM | 41.33% |
OM growth 3Y-17.89%
OM growth 5YN/A
PM growth 3Y-23.76%
PM growth 5YN/A
GM growth 3Y2.56%
GM growth 5Y-2.36%
2. CVX Health Analysis
2.1 Basic Checks
- CVX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- Compared to 1 year ago, CVX has more shares outstanding
- CVX has more shares outstanding than it did 5 years ago.
- The debt/assets ratio for CVX is higher compared to a year ago.
2.2 Solvency
- CVX has an Altman-Z score of 3.30. This indicates that CVX is financially healthy and has little risk of bankruptcy at the moment.
- With a decent Altman-Z score value of 3.30, CVX is doing good in the industry, outperforming 79.43% of the companies in the same industry.
- CVX has a debt to FCF ratio of 2.46. This is a good value and a sign of high solvency as CVX would need 2.46 years to pay back of all of its debts.
- With an excellent Debt to FCF ratio value of 2.46, CVX belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
- A Debt/Equity ratio of 0.21 indicates that CVX is not too dependend on debt financing.
- CVX's Debt to Equity ratio of 0.21 is fine compared to the rest of the industry. CVX outperforms 71.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.21 | ||
| Debt/FCF | 2.46 | ||
| Altman-Z | 3.3 |
ROIC/WACC0.47
WACC8.42%
2.3 Liquidity
- A Current Ratio of 1.15 indicates that CVX should not have too much problems paying its short term obligations.
- With a Current ratio value of 1.15, CVX perfoms like the industry average, outperforming 48.80% of the companies in the same industry.
- A Quick Ratio of 0.86 indicates that CVX may have some problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 0.86, CVX is in line with its industry, outperforming 41.63% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.15 | ||
| Quick Ratio | 0.86 |
3. CVX Growth Analysis
3.1 Past
- The earnings per share for CVX have decreased strongly by -27.16% in the last year.
- CVX shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -27.02% yearly.
- CVX shows a decrease in Revenue. In the last year, the revenue decreased by -4.64%.
- CVX shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.32% yearly.
EPS 1Y (TTM)-27.16%
EPS 3Y-27.02%
EPS 5YN/A
EPS Q2Q%-26.21%
Revenue 1Y (TTM)-4.64%
Revenue growth 3Y-7.85%
Revenue growth 5Y14.32%
Sales Q2Q%-10.25%
3.2 Future
- CVX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.17% yearly.
- CVX is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.02% yearly.
EPS Next Y17.97%
EPS Next 2Y14.78%
EPS Next 3Y14.95%
EPS Next 5Y14.17%
Revenue Next Year15.41%
Revenue Next 2Y5.13%
Revenue Next 3Y3.79%
Revenue Next 5Y-0.02%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. CVX Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 25.97, CVX can be considered very expensive at the moment.
- Compared to the rest of the industry, the Price/Earnings ratio of CVX is on the same level as its industry peers.
- The average S&P500 Price/Earnings ratio is at 26.91. CVX is around the same levels.
- A Price/Forward Earnings ratio of 22.01 indicates a rather expensive valuation of CVX.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of CVX is on the same level as its industry peers.
- CVX's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 21.99.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.97 | ||
| Fwd PE | 22.01 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CVX is on the same level as its industry peers.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of CVX is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 22.82 | ||
| EV/EBITDA | 10.74 |
4.3 Compensation for Growth
- CVX's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
- A more expensive valuation may be justified as CVX's earnings are expected to grow with 14.95% in the coming years.
PEG (NY)1.45
PEG (5Y)N/A
EPS Next 2Y14.78%
EPS Next 3Y14.95%
5. CVX Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 3.80%, CVX has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 3.22, CVX pays a bit more dividend than its industry peers.
- CVX's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.8% |
5.2 History
- The dividend of CVX has a limited annual growth rate of 5.97%.
- CVX has been paying a dividend for at least 10 years, so it has a reliable track record.
- CVX has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)5.97%
Div Incr Years24
Div Non Decr Years24
5.3 Sustainability
- CVX pays out 103.68% of its income as dividend. This is not a sustainable payout ratio.
- The dividend of CVX is growing, but earnings are growing more, so the dividend growth is sustainable.
DP103.68%
EPS Next 2Y14.78%
EPS Next 3Y14.95%
CVX Fundamentals: All Metrics, Ratios and Statistics
NYSE:CVX (4/29/2026, 9:30:04 AM)
190.1
+1.74 (+0.92%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Industry Strength86.96
Industry Growth40.37
Earnings (Last)01-30 2026-01-30/bmo
Earnings (Next)05-01 2026-05-01/bmo
Inst Owners67.71%
Inst Owner Change0.47%
Ins Owners0.05%
Ins Owner Change3.53%
Market Cap378.66B
Revenue(TTM)184.43B
Net Income(TTM)12.30B
Analysts76.88
Price Target206.45 (8.6%)
Short Float %1.08%
Short Ratio1.58
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.8% |
Yearly Dividend6.78
Dividend Growth(5Y)5.97%
DP103.68%
Div Incr Years24
Div Non Decr Years24
Ex-Date02-17 2026-02-17 (1.78)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.42%
Min EPS beat(2)3.91%
Max EPS beat(2)8.92%
EPS beat(4)3
Avg EPS beat(4)3.61%
Min EPS beat(4)-1.2%
Max EPS beat(4)8.92%
EPS beat(8)5
Avg EPS beat(8)0.09%
EPS beat(12)8
Avg EPS beat(12)-0.56%
EPS beat(16)11
Avg EPS beat(16)0.92%
Revenue beat(2)1
Avg Revenue beat(2)-0.54%
Min Revenue beat(2)-1.54%
Max Revenue beat(2)0.46%
Revenue beat(4)2
Avg Revenue beat(4)-0.45%
Min Revenue beat(4)-1.97%
Max Revenue beat(4)1.27%
Revenue beat(8)4
Avg Revenue beat(8)0.78%
Revenue beat(12)7
Avg Revenue beat(12)0.66%
Revenue beat(16)10
Avg Revenue beat(16)2.23%
PT rev (1m)10.1%
PT rev (3m)17.16%
EPS NQ rev (1m)-24.52%
EPS NQ rev (3m)-19.91%
EPS NY rev (1m)28.44%
EPS NY rev (3m)19.66%
Revenue NQ rev (1m)5.46%
Revenue NQ rev (3m)11.91%
Revenue NY rev (1m)12.88%
Revenue NY rev (3m)15.58%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.97 | ||
| Fwd PE | 22.01 | ||
| P/S | 2.05 | ||
| P/FCF | 22.82 | ||
| P/OCF | 11.16 | ||
| P/B | 2.03 | ||
| P/tB | 2.08 | ||
| EV/EBITDA | 10.74 |
EPS(TTM)7.32
EY3.85%
EPS(NY)8.64
Fwd EY4.54%
FCF(TTM)8.33
FCFY4.38%
OCF(TTM)17.04
OCFY8.96%
SpS92.59
BVpS93.6
TBVpS91.31
PEG (NY)1.45
PEG (5Y)N/A
Graham Number124.164 (-34.68%)
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.8% | ||
| ROE | 6.6% | ||
| ROCE | 6.2% | ||
| ROIC | 3.96% | ||
| ROICexc | 4.05% | ||
| ROICexgc | 4.11% | ||
| OM | 9.77% | ||
| PM (TTM) | 6.67% | ||
| GM | 41.33% | ||
| FCFM | 9% |
ROA(3y)6.28%
ROA(5y)7.82%
ROE(3y)10.49%
ROE(5y)12.99%
ROIC(3y)6.06%
ROIC(5y)7.07%
ROICexc(3y)6.26%
ROICexc(5y)7.43%
ROICexgc(3y)6.39%
ROICexgc(5y)7.59%
ROCE(3y)9.5%
ROCE(5y)11.08%
ROICexgc growth 3Y-32.22%
ROICexgc growth 5YN/A
ROICexc growth 3Y-32.06%
ROICexc growth 5YN/A
OM growth 3Y-17.89%
OM growth 5YN/A
PM growth 3Y-23.76%
PM growth 5YN/A
GM growth 3Y2.56%
GM growth 5Y-2.36%
F-Score6
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.21 | ||
| Debt/FCF | 2.46 | ||
| Debt/EBITDA | 1.05 | ||
| Cap/Depr | 86.17% | ||
| Cap/Sales | 9.41% | ||
| Interest Coverage | 19.13 | ||
| Cash Conversion | 88.97% | ||
| Profit Quality | 134.91% | ||
| Current Ratio | 1.15 | ||
| Quick Ratio | 0.86 | ||
| Altman-Z | 3.3 |
F-Score6
WACC8.42%
ROIC/WACC0.47
Cap/Depr(3y)90.9%
Cap/Depr(5y)78.2%
Cap/Sales(3y)8.65%
Cap/Sales(5y)7.24%
Profit Quality(3y)104.22%
Profit Quality(5y)110.8%
High Growth Momentum
Growth
EPS 1Y (TTM)-27.16%
EPS 3Y-27.02%
EPS 5YN/A
EPS Q2Q%-26.21%
EPS Next Y17.97%
EPS Next 2Y14.78%
EPS Next 3Y14.95%
EPS Next 5Y14.17%
Revenue 1Y (TTM)-4.64%
Revenue growth 3Y-7.85%
Revenue growth 5Y14.32%
Sales Q2Q%-10.25%
Revenue Next Year15.41%
Revenue Next 2Y5.13%
Revenue Next 3Y3.79%
Revenue Next 5Y-0.02%
EBIT growth 1Y-27%
EBIT growth 3Y-24.34%
EBIT growth 5YN/A
EBIT Next Year133.25%
EBIT Next 3Y36.25%
EBIT Next 5Y21.63%
FCF growth 1Y10.29%
FCF growth 3Y-23.89%
FCF growth 5Y58.57%
OCF growth 1Y7.77%
OCF growth 3Y-11.88%
OCF growth 5Y26.26%
CHEVRON CORP / CVX Fundamental Analysis FAQ
What is the fundamental rating for CVX stock?
ChartMill assigns a fundamental rating of 4 / 10 to CVX.
Can you provide the valuation status for CHEVRON CORP?
ChartMill assigns a valuation rating of 2 / 10 to CHEVRON CORP (CVX). This can be considered as Overvalued.
How profitable is CHEVRON CORP (CVX) stock?
CHEVRON CORP (CVX) has a profitability rating of 3 / 10.
Can you provide the PE and PB ratios for CVX stock?
The Price/Earnings (PE) ratio for CHEVRON CORP (CVX) is 25.97 and the Price/Book (PB) ratio is 2.03.
How financially healthy is CHEVRON CORP?
The financial health rating of CHEVRON CORP (CVX) is 5 / 10.