Income StatementBalance SheetCash FlowBusiness Segments
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Chevron Income Statement

Revenue, expenses, and profitability over time

Chevron generated $189.03B in trailing twelve-month revenue, down 0.1% year-over-year. Net income was $12.3B with a 6.51% net margin. Diluted EPS is $6.63, which declined 0.3% year-over-year. Based on the Q4 2025 filing.

Total Revenue (TTM)$189.03BNet Income (TTM)$12.3BEps Diluted (TTM)$6.63
Latest FilingQ4 2025
Report Date2026-02-24
Market Cap$418.33B
P/E Ratio34.01
ROE7.12%

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Capital Expenditures$4.1B—$3.9B$3.7B$4.4B—
Change in Accounts and Notes Receivable-$1.2B—-$1.1B-$2.0B-$929.0M—
Change in Accounts Payable and Accrued Liabilities-$540.0M—-$1.3B-$2.7B-$231.0M—
Change in Deferred Charges$206.0M—$172.0M$55.0M$153.0M—
Change in Income Taxes Payable-$75.0M—-$1.3B-$356.0M$256.0M—
Change in Inventories-$752.0M—$201.0M-$354.0M$920.0M—
Change in Long-term Receivables-$35.0M—$40.0M-$30.0M$75.0M—
Change in Operating Working Capital-$1.4B—$2.4B-$278.0M$555.0M—
Change in Prepaid Expenses and Other Assets-$52.0M—$769.0M-$983.0M$589.0M—
Comprehensive Income Attributable to Parent$4.6B—$3.6B$2.6B$3.5B—
Comprehensive Income, Total$4.6B—$3.6B$2.7B$3.6B—
Contributions from Noncontrolling Interests$4.0M—$4.0M$0.0$4.0M—
Dividends Per Share$1.63—$1.71$1.71$1.71—
Income Tax (Expense) Benefit on Defined Benefit Plans-$14.0M—-$10.0M-$19.0M$1.0M—
Income Taxes Paid$1.8B—$2.6B$1.6B$1.4B—
Marketable Securities Sold$0.0—$0.0$0.0$0.0—
Net Investment Payments (Proceeds)$0.0—$0.0$0.0$0.0—
Net Loans to Equity Affiliates-$39.0M—-$66.0M-$110.0M$974.0M—
Net Noncontrolling Interest Flows-$199.0M—-$11.0M-$19.0M-$190.0M—
OCI Cash Flow Hedge, After Reclassification, Tax$8.0M—-$2.0M$6.0M$1.0M—
OCI Cash Flow Hedge, Net of Tax$26.0M—-$4.0M$23.0M$0.0—
OCI Cash Flow Hedge Reclassification, Before Tax-$16.0M—-$17.0M-$23.0M$6.0M—
OCI Defined Benefit Plan Actuarial Gain (Loss)$1.0M—-$1.0M$35.0M-$80.0M—
OCI Defined Benefit Plan, After Tax-$46.0M—-$34.0M-$52.0M$13.0M—
OCI Amortization of Prior Service Costs-$3.0M—-$2.0M-$1.0M-$4.0M—
OCI Defined Benefit Plan Prior Service Cost, Before Tax$0.0—$0.0$0.0-$24.0M—
OCI Defined Benefit Plan Reclassification, Before Tax-$61.0M—-$38.0M-$37.0M-$43.0M—
OCI Equity Affiliate Defined Benefit Plans$1.0M—$9.0M$0.0$3.0M—
OCI Foreign Currency Translation Adjustment, Net of Tax$23.0M—$16.0M$54.0M-$9.0M—
OCI Unrealized Gain (Loss) on Available-for-Sale Securities$4.0M—$5.0M$13.0M-$2.0M—
Oil and Gas Property Acquisition Payments$3.9B—$3.8B$3.6B$4.3B—
Other Comprehensive Income (Loss), Net of Tax$99.0M—$51.0M$142.0M-$24.0M—
Payments for Restructuring——$4.0M$60.0M$243.0M—
Payments for Long-term Loans to Related Parties$57.0M—$87.0M$129.0M$47.0M—
Payments to Acquire Marketable Securities$0.0—$0.0$0.0$0.0—
Payments to Noncontrolling Interests$203.0M—$15.0M$19.0M$194.0M—
Proceeds and Deposits from Asset Sales$394.0M—$593.0M$339.0M$448.0M—
Proceeds and Deposits from Asset Sales and Returns of Investment$402.0M—$600.0M$390.0M$483.0M—
Repayment of Loans by Equity Affiliates$18.0M—$21.0M$19.0M$1.0B—
Repayment of Long-term Obligations$12.0M—$61.0M$2.6B$906.0M—
Returns of Investment from Equity Affiliates$8.0M—$7.0M$51.0M$35.0M—
Shares Issued for Share-Based Compensation$36.0M—$218.0M$11.0M$84.0M—
Stock Repurchase Payments$4.8B—$3.9B$2.6B$2.6B—
Subsidiary and Affiliate Acquisition Payments$127.0M—$60.0M$41.0M$49.0M—
Value of Treasury Stock Reissued$38.0M—$217.0M$159.0M$85.0M—

Tax

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Deferred Income Taxes and Tax Credits$403.0M—$480.0M$29.0M$200.0M—
Effective Tax Rate0.31—0.370.390.33—
Income tax expense$2.0B$2.8B$2.1B$1.6B$1.8B$1.8B

Other Income & Expense

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Distributions from Equity Affiliates$1.4B—$1.1B$1.4B$1.6B—
Net Derivatives Gain (Loss) on Hedge Transactions$18.0M—-$23.0M$6.0M$7.0M—
Other Non-cash Income (Expense)$629.0M—$534.0M-$583.0M-$3.0M—
Unrealized foreign currency gain (loss)-$192.0M—-$130.0M-$340.0M$26.0M—
Income from equity method investments$1.3B$688.0M$820.0M$536.0M$981.0M$663.0M
Gain (loss) on disposal of assets$189.0M—$19.0M$280.0M$3.0M—
Interest expense$164.0M$261.0M$124.0M$274.0M$370.0M$449.0M
Non-service pension and postretirement benefit expense$49.0M$50.0M$11.0M$83.0M$70.0M$149.0M
Other income (expense), net$482.0M$3.2B$689.0M-$89.0M$576.0M$423.0M

Net Income

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Cash Dividends, Common Stock$3.1B—$3.0B$3.0B$3.6B—
Stock Dividends, Common Stock$6.0M—$9.0M$9.0M$9.0M—
Comprehensive Income Attributable to Noncontrolling Interest$9.0M—$12.0M$25.0M$74.0M—
Net income attributable to noncontrolling interests$9.0M—$12.0M$25.0M$74.0M—
Net income$4.5B$3.2B$3.5B$2.5B$3.5B$2.8B

Operating Expenses

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Dry hole expense$16.0M—$106.0M$55.0M$57.0M—
Exploration expense$154.0M$449.0M$187.0M$252.0M$288.0M$324.0M
Other Postretirement Benefit Payments$34.0M—$42.0M$35.0M$35.0M—
Pension Benefit Payments$204.0M—$263.0M$181.0M$94.0M—
Taxes other than on income$1.3B$1.1B$1.3B$1.3B$1.3B$1.3B
Depreciation and amortization$4.2B$5.0B$4.1B$4.3B$5.8B$5.9B
Other operating expenses$1.6B—$1.7B$1.8B$2.0B—
Selling, general and administrative$1.2B$1.6B$1.2B$889.0M$1.5B$1.5B
Total operating expenses$44.2B$46.2B$42.0B$40.7B$44.3B$42.3B

Earnings Per Share

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Basic earnings per share$2.49$1.85$2.01$1.45$1.83$1.36
Diluted earnings per share$2.48$1.84$2.00$1.45$1.82$1.36
Weighted-average shares, basic1.8B—1.7B1.7B1.9B—
Weighted-average shares, diluted1.8B—1.8B1.7B1.9B—

Income Before Tax

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Income before income taxes$6.5B$23.4B$5.6B$4.1B$5.4B$4.6B

Cost of Revenue

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Total cost of revenue$30.5B$30.1B$28.6B$26.9B$27.4B$25.3B

Revenue

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Total revenue$50.7B$52.2B$47.6B$44.8B$49.7B$46.9B

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