Chevron CVX Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 43.2%+2.8pp | 42.8%+1.5pp | 41.9%+1.3pp | 40.6%-0.1pp | 40.5%-0.4pp | |
| Net margin | 5.8%-2.0pp | 6.5%-2.2pp | 6.6%-1.9pp | 7%-2.3pp | 7.8%-2.4pp | |
| EBITDA margin | 21.6%+0.2pp | 21.7%-0.6pp | 21.2%-1.0pp | 20.8%-2.0pp | 21.4%-1.9pp | |
| Free cash flow margin | 7.3%+0.5pp | 8.8%+1.4pp | 7.9%-1.6pp | 8.2%-0.8pp | 6.7%-2.5pp | |
| Returns | ||||||
| Return on equity | 6.6%-3.5pp | 7.3%-4.0pp | 7.4%-3.0pp | 9%-2.8pp | 10.1%-2.6pp | |
| Return on assets | 3.8%-2.3pp | 4.2%-2.6pp | 4.4%-2.0pp | 5.4%-1.9pp | 6%-1.8pp | |
| Return on invested capital | 6%-3.2pp | 6.5%-3.5pp | 6.7%-2.9pp | 8.2%-2.8pp | 9.3%-2.9pp | |
| Efficiency | ||||||
| Asset turnover | 0.6×-0.1× | 0.7×-0.1× | 0.7×-0.1× | 0.8×0.0× | 0.8×0.0× | |
| Inventory turnover | 10.9×-1.6× | 11.5×-2.0× | 11.2×-1.1× | 12×-0.1× | 12.6×+0.3× | |
| Liquidity | ||||||
| Current ratio | 1.1×0.0× | 1.2×+0.1× | 1.2×+0.1× | 1×-0.2× | 1.1×-0.1× | |
| Quick ratio | 0.8×0.0× | 0.9×0.0× | 0.9×+0.1× | 0.7×-0.1× | 0.8×-0.1× | |
| Cash ratio | 0.1×0.0× | 0.2×0.0× | 0.2×+0.1× | 0.2×0.0× | 0.2×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 0.2×0.0× | 0.3×0.0× | 0.2×+0.1× | 0.2×+0.1× | 0.2×+0.1× | |
| Debt-to-assets | 0.1×0.0× | 0.1×0.0× | 0.1×0.0× | 0.1×0.0× | 0.1×0.0× | |
| Net debt / EBITDA | 1×+0.4× | 1×+0.4× | 0.8×+0.3× | 0.6×+0.2× | 0.5×+0.2× | |
| Per Share | ||||||
| Book value per share | $92.51+8.6% | —— | $97.55+12.9% | $84.91-2.2% | $85.21-1.9% | |
| Valuation | ||||||
| Market capitalization | $409.91B+39.2% | $304.72B+18.0% | $312.88B+17.1% | $248.63B-13.1% | $294.53B+0.5% | |
| Enterprise value | $449.03B+41.2% | $345.72B+21.7% | $345.64B+20.3% | $272.72B-10.4% | $318.05B+3.4% | |
| Price / earnings | 37.2×+18.4× | 24.8×+10.2× | 24.5×+8.5× | 18.1×+2.8× | 18.8×+4.4× | |
| Price / sales | 2.2×+0.7× | 1.6×+0.3× | 1.6×+0.3× | 1.3×-0.1× | 1.5×0.0× | |
| Price / book | 2.2×+0.3× | 1.6×-0.1× | 1.6×-0.1× | 1.7×-0.1× | 2×+0.1× | |
| EV / EBITDA | 10.9×+3.6× | 8.4×+2.2× | 8.4×+1.8× | 6.7×+0.1× | 7.4×+0.7× | |
| EV / sales | 2.4×+0.8× | 1.8×+0.4× | 1.8×+0.3× | 1.4×-0.1× | 1.6×0.0× | |
| Free cash flow yield | 3.4%-1.2pp | 5.4%-0.4pp | 4.9%-2.1pp | 6.5%+0.1pp | 4.6%-1.7pp | |
| Earnings yield | 2.7%-2.6pp | 4%-2.8pp | 4.1%-2.2pp | 5.5%-1.0pp | 5.3%-1.6pp | |
| Dividend yield | 3.2%-0.8pp | 4.2%-0.4pp | 3.9%-0.5pp | 4.7%+0.7pp | 4%+0.1pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do Chevron's ratios come from?
- Every ratio is computed from Chevron's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
