Free cash flow
Chevron Free cash flow increased by 11.8% to $5.53B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 26.8%, from $4.36B to $5.53B. Over 4 years (FY 2021 to FY 2025), Free cash flow shows a downward trend with a -5.9% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flowHistorical 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $5.16B | $6.67B | $6.85B | $6.10B | $10.60B | $12.27B | $8.66B | $4.17B | $2.54B | $5.00B | $8.07B | $2.74B | $2.33B | $5.62B | $4.36B | $1.26B | $4.86B | $4.94B | $5.53B |
| QoQ Change | — | +29.4% | +2.7% | -11.0% | +73.9% | +15.8% | -29.4% | -51.9% | -39.0% | +96.9% | +61.5% | -66.1% | -15.0% | +141.3% | -22.5% | -71.0% | +285.4% | +1.6% | +11.8% |
| YoY Change | — | — | — | — | +105.5% | +83.9% | +26.4% | -31.6% | -76.0% | -59.3% | -6.8% | -34.3% | -8.3% | +12.4% | -46.0% | -53.9% | +108.8% | -12.1% | +26.8% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Chevron's free cash flow?
- Chevron (CVX) reported free cash flow of $5.53B in Q4 2025.
- How has Chevron's free cash flow changed year-over-year?
- Chevron's free cash flow increased by 26.8% year-over-year, from $4.36B to $5.53B.
- What is the long-term trend for Chevron's free cash flow?
- Over 4 years (2021 to 2025), Chevron's free cash flow has grown at a -5.9% compound annual growth rate (CAGR), from $21.13B to $16.59B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.