CHEVRON CORP (CVX) Stock Fundamental Analysis
USA • New York Stock Exchange • NYSE:CVX • US1667641005
180.86 USD
+1.63 (+0.91%)
At close: Feb 6, 2026
180.922 USD
+0.06 (+0.03%)
After Hours: 2/6/2026, 8:26:56 PM
Taking everything into account, CVX scores 4 out of 10 in our fundamental rating. CVX was compared to 207 industry peers in the Oil, Gas & Consumable Fuels industry. While CVX seems to be doing ok healthwise, there are quite some concerns on its profitability. CVX is valued expensive and it does not seem to be growing. CVX also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
- CVX had positive earnings in the past year.
- CVX had a positive operating cash flow in the past year.
- CVX had positive earnings in each of the past 5 years.
- CVX had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
- Looking at the Return On Assets, with a value of 3.91%, CVX is in line with its industry, outperforming 56.04% of the companies in the same industry.
- CVX has a Return On Equity (6.73%) which is in line with its industry peers.
- CVX has a Return On Invested Capital of 4.44%. This is in the lower half of the industry: CVX underperforms 60.39% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.91% | ||
| ROE | 6.73% | ||
| ROIC | 4.44% |
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
- CVX has a Profit Margin of 6.83%. This is comparable to the rest of the industry: CVX outperforms 49.76% of its industry peers.
- In the last couple of years the Profit Margin of CVX has declined.
- The Operating Margin of CVX (10.82%) is comparable to the rest of the industry.
- CVX's Operating Margin has declined in the last couple of years.
- CVX has a Gross Margin (39.56%) which 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 | 10.82% | ||
| PM (TTM) | 6.83% | ||
| GM | 39.56% |
OM growth 3Y-18.18%
OM growth 5YN/A
PM growth 3Y-23.76%
PM growth 5YN/A
GM growth 3Y2.56%
GM growth 5Y-2.36%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CVX is destroying value.
- CVX has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
- CVX has an Altman-Z score of 3.26. This indicates that CVX is financially healthy and has little risk of bankruptcy at the moment.
- CVX has a better Altman-Z score (3.26) than 84.06% of its industry peers.
- CVX has a debt to FCF ratio of 2.69. This is a good value and a sign of high solvency as CVX would need 2.69 years to pay back of all of its debts.
- Looking at the Debt to FCF ratio, with a value of 2.69, CVX is in the better half of the industry, outperforming 78.26% of the companies in the same industry.
- CVX has a Debt/Equity ratio of 0.20. This is a healthy value indicating a solid balance between debt and equity.
- The Debt to Equity ratio of CVX (0.20) is better than 72.46% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.2 | ||
| Debt/FCF | 2.69 | ||
| Altman-Z | 3.26 |
ROIC/WACC0.53
WACC8.44%
2.3 Liquidity
- CVX has a Current Ratio of 1.15. This is a normal value and indicates that CVX is financially healthy and should not expect problems in meeting its short term obligations.
- CVX's Current ratio of 1.15 is in line compared to the rest of the industry. CVX outperforms 49.76% of its industry peers.
- CVX has a Quick Ratio of 1.15. This is a bad value and indicates that CVX is not financially healthy enough and could expect problems in meeting its short term obligations.
- Looking at the Quick ratio, with a value of 0.86, CVX is in line with its industry, outperforming 43.96% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.15 | ||
| Quick Ratio | 0.86 |
3. Growth
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
- The Earnings Per Share is expected to grow by 13.59% on average over the next years. This is quite good.
- CVX is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -1.16% yearly.
EPS Next Y-7.05%
EPS Next 2Y12.55%
EPS Next 3Y14.23%
EPS Next 5Y13.59%
Revenue Next Year-1.33%
Revenue Next 2Y2.35%
Revenue Next 3Y2.62%
Revenue Next 5Y-1.16%
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 24.71, the valuation of CVX can be described as rather expensive.
- Compared to the rest of the industry, the Price/Earnings ratio of CVX is on the same level as its industry peers.
- CVX is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 26.58, the valuation of CVX can be described as expensive.
- CVX's Price/Forward Earnings ratio is in line with the industry average.
- Compared to an average S&P500 Price/Forward Earnings ratio of 27.78, CVX is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.71 | ||
| Fwd PE | 26.58 |
4.2 Price Multiples
- CVX's Enterprise Value to EBITDA ratio is in line with the industry average.
- 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 | 23.61 | ||
| EV/EBITDA | 10 |
4.3 Compensation for Growth
- A more expensive valuation may be justified as CVX's earnings are expected to grow with 14.23% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y12.55%
EPS Next 3Y14.23%
5. Dividend
5.1 Amount
- CVX has a Yearly Dividend Yield of 3.93%.
- CVX's Dividend Yield is a higher than the industry average which is at 3.64.
- Compared to an average S&P500 Dividend Yield of 1.83, CVX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.93% |
5.2 History
- The dividend of CVX is nicely growing with an annual growth rate of 6.53%!
- CVX has paid a dividend for at least 10 years, which is a reliable track record.
- CVX has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)6.53%
Div Incr Years23
Div Non Decr Years23
5.3 Sustainability
- CVX pays out 95.82% 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.
DP95.82%
EPS Next 2Y12.55%
EPS Next 3Y14.23%
180.86
+1.63 (+0.91%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)01-30 2026-01-30/bmo
Earnings (Next)04-30 2026-04-30/bmo
Inst Owners67.93%
Inst Owner Change-2.06%
Ins Owners0.05%
Ins Owner Change-0.13%
Market Cap364.17B
Revenue(TTM)184.43B
Net Income(TTM)12.77B
Analysts76.25
Price Target185.74 (2.7%)
Short Float %1.1%
Short Ratio1.99
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.93% |
Yearly Dividend6.49
Dividend Growth(5Y)6.53%
DP95.82%
Div Incr Years23
Div Non Decr Years23
Ex-Date02-17 2026-02-17 (1.78)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.86%
Min EPS beat(2)2.79%
Max EPS beat(2)8.92%
EPS beat(4)2
Avg EPS beat(4)1.77%
Min EPS beat(4)-3.41%
Max EPS beat(4)8.92%
EPS beat(8)5
Avg EPS beat(8)0.42%
EPS beat(12)7
Avg EPS beat(12)-1.52%
EPS beat(16)10
Avg EPS beat(16)-0.5%
Revenue beat(2)2
Avg Revenue beat(2)0.87%
Min Revenue beat(2)0.46%
Max Revenue beat(2)1.27%
Revenue beat(4)3
Avg Revenue beat(4)2.59%
Min Revenue beat(4)-1.97%
Max Revenue beat(4)10.61%
Revenue beat(8)4
Avg Revenue beat(8)-0.22%
Revenue beat(12)7
Avg Revenue beat(12)0.69%
Revenue beat(16)10
Avg Revenue beat(16)2.29%
PT rev (1m)0.11%
PT rev (3m)1.82%
EPS NQ rev (1m)-7.01%
EPS NQ rev (3m)-7.72%
EPS NY rev (1m)-0.91%
EPS NY rev (3m)-1.91%
Revenue NQ rev (1m)-1.94%
Revenue NQ rev (3m)-1.03%
Revenue NY rev (1m)-0.3%
Revenue NY rev (3m)0.37%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.71 | ||
| Fwd PE | 26.58 | ||
| P/S | 1.95 | ||
| P/FCF | 23.61 | ||
| P/OCF | 11.44 | ||
| P/B | 1.92 | ||
| P/tB | 1.97 | ||
| EV/EBITDA | 10 |
EPS(TTM)7.32
EY4.05%
EPS(NY)6.8
Fwd EY3.76%
FCF(TTM)7.66
FCFY4.24%
OCF(TTM)15.82
OCFY8.74%
SpS92.86
BVpS94.28
TBVpS92.02
PEG (NY)N/A
PEG (5Y)N/A
Graham Number124.61
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.91% | ||
| ROE | 6.73% | ||
| ROCE | 6.95% | ||
| ROIC | 4.44% | ||
| ROICexc | 4.56% | ||
| ROICexgc | 4.64% | ||
| OM | 10.82% | ||
| PM (TTM) | 6.83% | ||
| GM | 39.56% | ||
| FCFM | 8.25% |
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-18.18%
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 | 0.2 | ||
| Debt/FCF | 2.69 | ||
| Debt/EBITDA | 0.96 | ||
| Cap/Depr | 85.43% | ||
| Cap/Sales | 8.78% | ||
| Interest Coverage | 24.26 | ||
| Cash Conversion | 80.71% | ||
| Profit Quality | 120.8% | ||
| Current Ratio | 1.15 | ||
| Quick Ratio | 0.86 | ||
| Altman-Z | 3.26 |
F-Score6
WACC8.44%
ROIC/WACC0.53
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-27.16%
EPS 3Y-27.02%
EPS 5YN/A
EPS Q2Q%-26.21%
EPS Next Y-7.05%
EPS Next 2Y12.55%
EPS Next 3Y14.23%
EPS Next 5Y13.59%
Revenue 1Y (TTM)-4.64%
Revenue growth 3Y-7.85%
Revenue growth 5Y14.32%
Sales Q2Q%-10.25%
Revenue Next Year-1.33%
Revenue Next 2Y2.35%
Revenue Next 3Y2.62%
Revenue Next 5Y-1.16%
EBIT growth 1Y-2.45%
EBIT growth 3Y-24.6%
EBIT growth 5YN/A
EBIT Next Year106.36%
EBIT Next 3Y35.27%
EBIT Next 5Y21.08%
FCF growth 1Y-17.78%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-9.61%
OCF growth 3YN/A
OCF growth 5YN/A
CHEVRON CORP / CVX FAQ
What is the fundamental rating for CVX stock?
ChartMill assigns a fundamental rating of 4 / 10 to CVX.
What is the valuation status for CVX stock?
ChartMill assigns a valuation rating of 2 / 10 to CHEVRON CORP (CVX). This can be considered as Overvalued.
What is the profitability of CVX stock?
CHEVRON CORP (CVX) has a profitability rating of 3 / 10.
What is the expected EPS growth for CHEVRON CORP (CVX) stock?
The Earnings per Share (EPS) of CHEVRON CORP (CVX) is expected to decline by -7.05% in the next year.
Is the dividend of CHEVRON CORP sustainable?
The dividend rating of CHEVRON CORP (CVX) is 7 / 10 and the dividend payout ratio is 95.82%.