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Chevron CVX Upstream — Properties, plant and equipment, at cost

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EQTUpstream — Other property, plant and equipment, at cost less accumulated depreciation
$27.07M+32.5%
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IMOUpstream — Property, plant and equipment, less accumulated depreciation and depletion
$26.04B-0.9%
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EQTUpstream — Property, Plant and Equipment, Net
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IMOUpstream — Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment
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EQTUpstream — Total capital expenditures
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XOMUpstream — Impairment, long-lived asset, held-for-use, before-tax
$400M

Other financials

Income statement

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Revenue$48.6B+2.1%
Gross profit$20.3B+7.1%
Net income$2.2B-36.9%
EPS (diluted)$1.11-44.5%

Balance sheet

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Cash & equivalents$6.3B+2.4%
Total debt$45.4B+53.1%
Total equity$183.72B+23.1%
Total assets$329.55B+28.5%

Cash flow

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Operating cash flow$2.5B-51.6%
CapEx$4.1B+3.5%
Free cash flow-$1.5B-223%

Valuation

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Market cap$346.64B+35.8%
Enterprise value$385.75B+38.1%
P/E31.5×+12.9×
P/S1.8×+0.5×

Profitability

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Gross margin43.2%+2.8pp
Net margin5.8%-2.0pp
FCF margin7.3%+0.5pp

Returns & leverage

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Return on equity6.6%-3.5pp
Debt / equity0.2×0.0×
Current ratio1.1×0.0×

Where this comes from

Reported directly by Chevron in its filing.

Tagged under the XBRL concept us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization.

The official record: Chevron’s 10-K, filed February 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Chevron's upstream — properties, plant and equipment, at cost?
Chevron (CVX) reported upstream — properties, plant and equipment, at cost of $388.49B in Q4 2025.
How has Chevron's upstream — properties, plant and equipment, at cost changed year-over-year?
Chevron's upstream — properties, plant and equipment, at cost increased by 29.1% year-over-year, from $300.84B to $388.49B.
What does upstream — properties, plant and equipment, at cost mean?
The gross historical cost of all physical assets used in the upstream segment, including drilling rigs, production platforms, and pipelines. This represents the total capital investment made in infrastructure before accounting for wear and tear.