Income Tax
Chevron Income Tax decreased by 5.8% to $1.65B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 20.2%, from $2.07B to $1.65B. Over 4 years (FY 2021 to FY 2025), Income Tax shows an upward trend with a 5.1% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to pre-tax income may signal a higher effective tax rate or changes in tax legislation, while a decrease may indicate tax benefits or lower jurisdictional rates.
Detailed definition
Represents the total provision for income taxes recognized by the company during the reporting period, including both cu...
Peer comparison
Highly dependent on the company's geographic footprint and tax planning strategies compared to peers.
income_tax_expenseHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.33B | $1.94B | $1.90B | $2.78B | $4.29B | $3.57B | $3.43B | $2.91B | $1.83B | $2.18B | $1.25B | $2.37B | $2.59B | $1.99B | $2.80B | $2.07B | $1.63B | $1.80B | $1.75B | $1.65B |
| QoQ Change | — | +46.1% | -1.9% | +45.9% | +54.4% | -16.7% | -3.9% | -15.0% | -37.2% | +19.4% | -42.9% | +90.1% | +9.4% | -23.1% | +40.5% | -26.0% | -21.2% | +10.4% | -2.6% | -5.8% |
| YoY Change | — | — | — | — | +222.9% | +84.1% | +80.2% | +4.9% | -57.3% | -38.9% | -63.6% | -18.6% | +41.8% | -8.7% | +124.5% | -12.7% | -37.1% | -9.6% | -37.4% | -20.2% |
Business Segments — Upstream
| Segment | FY'21 |
|---|---|
| Upstream | $6.13B |
| Downstream | $750.00M |
| Total | $5.95B |
All segment values are derived from annual filings.
Downstream, Upstream were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
Business Segments — Segment Total
| Segment | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|
| All Other | -$40.00M | -$180.00M | -$123.00M | -$162.00M | -$158.00M |
| Segment Total | $2.11B | — | — | — | — |
| Total | $2.07B | $1.63B | $1.80B | $1.75B | $1.65B |
Geographic Breakdown
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Int’l. | $1.87B | $1.50B | $2.85B | $1.53B | $1.31B | $1.49B | $1.50B | $1.15B |
| Total | $2.59B | $1.99B | $2.80B | $2.07B | $1.63B | $1.80B | $1.75B | $1.65B |
Income Tax at Other Companies
Frequently Asked Questions
- What is Chevron's income tax?
- Chevron (CVX) reported income tax of $1.65B in Q1 2026.
- How has Chevron's income tax changed year-over-year?
- Chevron's income tax decreased by 20.2% year-over-year, from $2.07B to $1.65B.
- What is the long-term trend for Chevron's income tax?
- Over 4 years (2021 to 2025), Chevron's income tax has grown at a 5.1% compound annual growth rate (CAGR), from $5.95B to $7.26B.
- What does income tax mean?
- The total amount of income tax the company is required to pay on its earnings.