Income StatementBalance SheetCash FlowBusiness Segments
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Chevron Business Segments

Business, geographic, and product segment breakdowns

Chevron generates $189.03B in annual revenue across 2 key segments: Reportable Segment, Aggregation before Other Operating Segment ($230.79B), and All Other ($644.0M). Based on the Q4 2025 filing.

Reportable Segment, Aggregation before Other Operating Segment (TTM)$230.79BAll Other (TTM)$644.0M
Latest FilingQ4 2025
Report Date2026-02-24
Market Cap$418.33B
P/E Ratio34.01
ROE7.12%

Business Segments

Sales and other operating revenues

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$61.7B$60.0B$57.5B$56.5B$60.0B$56.8B
All Other$148.0M$143.0M$398.0M-$176.0M$286.0M$136.0M

Income (loss) from equity affiliates

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$1.3B$691.0M$828.0M$535.0M$982.0M$664.0M
All Other$0.0-$3.0M-$8.0M$1.0M-$1.0M-$1.0M

Other income (loss)

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$361.0M$3.1B$302.0M$118.0M$313.0M$317.0M
Reportable Segment, Aggregation before Other Operating Segment$361.0M$3.1B$302.0M$118.0M$313.0M$317.0M
Reportable Segment, Aggregation before Other Operating Segment$361.0M$3.1B$302.0M$118.0M$313.0M$317.0M
All Other$121.0M$115.0M$387.0M-$207.0M$263.0M$106.0M
All Other$121.0M$115.0M$387.0M-$207.0M$263.0M$106.0M
All Other$121.0M$115.0M$387.0M-$207.0M$263.0M$106.0M

Cost of Product and Service Sold

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$30.5B$30.1B$28.6B$26.9B$27.4B$25.3B
All Other$0.0$0.0$0.0$0.0$0.0$0.0

Operating and SG&A expenses

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$7.2B$8.2B$6.9B$7.0B$8.5B$8.1B
All Other$723.0M$1.0B$741.0M$621.0M$635.0M$911.0M

Depreciation, Depletion and Amortization

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$4.2B$4.8B$4.0B$4.3B$5.7B$5.8B
Upstream$3.9B$3.9B$4.6B$4.6B$4.6B$4.6B
Downstream$362.8M$362.8M$351.0M$351.0M$351.0M$351.0M
All Other Segments$55.0M$144.0M$87.0M$60.0M$62.0M$74.0M

Other costs and deduction

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$1.4B$1.6B$1.4B$1.5B$1.6B$1.6B
All Other$191.0M$202.0M$278.0M$305.0M$390.0M$385.0M

Costs and Expenses

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$43.2B$44.8B$40.9B$39.7B$43.2B$40.9B
All Other$969.0M$1.4B$1.1B$986.0M$1.1B$1.4B

Income Tax Expense (Benefit)

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$2.0B$3.2B$2.1B$1.8B$1.9B$1.9B
All Other-$52.0M-$353.0M-$40.0M-$180.0M-$123.0M-$162.0M

Less: Net income (loss) attributable to noncontrolling interests

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$9.0M$20.0M$12.0M$25.0M$74.0M$75.0M
All Other$0.0$0.0$0.0$0.0$0.0$0.0

Net income (loss) attributable to CUSA

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Reportable Segment, Aggregation before Other Operating Segment$5.2B$4.1B$4.1B$3.5B$4.4B$3.9B
All Other-$697.0M-$817.0M-$583.0M-$974.0M-$900.0M-$1.1B

Interest Income

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
All Other$64.0M$81.0M$69.0M$63.0M$61.0M$64.0M

Interest Expense

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
All Other$146.0M$181.0M$192.0M$250.0M$329.0M$325.0M

Goodwill

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream Equipment$4.4B$4.2B$4.2B$4.2B$4.2B$4.2B
Upstream$4.4B$4.2B$4.2B$4.2B$4.2B$4.2B
Upstream$4.4B$4.2B$4.2B$4.2B$4.2B$4.2B
Upstream$4.4B$4.2B$4.2B$4.2B$4.2B$4.2B
Downstream$352.0M$352.0M$352.0M$352.0M$352.0M$352.0M
Downstream$352.0M$352.0M$352.0M$352.0M$352.0M$352.0M
Downstream$352.0M$352.0M$352.0M$352.0M$352.0M$352.0M

Total Assets

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream Equipment$192.3B$188.5B$187.0B$183.2B$261.0B$257.0B
Upstream$192.3B$188.5B$187.0B$183.2B$261.0B$257.0B
Upstream$192.3B$188.5B$187.0B$183.2B$261.0B$257.0B
Upstream$192.3B$188.5B$187.0B$183.2B$261.0B$257.0B
Downstream Equipment$57.6B$56.8B$57.1B$56.2B$55.9B$55.2B
Downstream$57.6B$56.8B$57.1B$56.2B$55.9B$55.2B
Downstream$57.6B$56.8B$57.1B$56.2B$55.9B$55.2B
Downstream$57.6B$56.8B$57.1B$56.2B$55.9B$55.2B

Equity Method Investments

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream—$31.5B———$27.7B
Downstream—$15.1B———$15.3B

Equity in Earnings

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream$895.0M$895.0M$549.8M$549.8M$549.8M$549.8M
Upstream$895.0M$895.0M$549.8M$549.8M$549.8M$549.8M
Upstream$895.0M$895.0M$549.8M$549.8M$549.8M$549.8M
Downstream$255.3M$255.3M$202.5M$202.5M$202.5M$202.5M
Downstream$255.3M$255.3M$202.5M$202.5M$202.5M$202.5M
Downstream$255.3M$255.3M$202.5M$202.5M$202.5M$202.5M

Properties, plant and equipment, at cost

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream—$300.8B———$388.5B
Upstream—$300.8B———$388.5B
Upstream—$300.8B———$388.5B
Downstream—$40.7B———$41.9B
Downstream—$40.7B———$41.9B
Downstream—$40.7B———$41.9B

Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream—$129.1B———$200.8B
Upstream—$129.1B———$200.8B
Upstream—$129.1B———$200.8B
Downstream—$16.6B———$16.6B
Downstream—$16.6B———$16.6B
Downstream—$16.6B———$16.6B

Property, Plant and Equipment, Additions

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream$3.5B$3.5B$22.5B$22.5B$22.5B$22.5B
Upstream$3.5B$3.5B$22.5B$22.5B$22.5B$22.5B
Upstream$3.5B$3.5B$22.5B$22.5B$22.5B$22.5B
Downstream$365.5M$365.5M$223.8M$223.8M$223.8M$223.8M
Downstream$365.5M$365.5M$223.8M$223.8M$223.8M$223.8M
Downstream$365.5M$365.5M$223.8M$223.8M$223.8M$223.8M

Accrual for Environmental Loss Contingencies, Component Amount

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream—$236.0M———$349.0M
Upstream—$236.0M———$349.0M
Upstream—$236.0M———$349.0M

Gains on sale of nonstrategic properties

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream$57.8M$57.8M$90.0M$90.0M$90.0M$90.0M
Downstream$3.8M$3.8M$10.0M$10.0M$10.0M$10.0M

Severance after tax

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
All Other$52.0M$52.0M$10.0M$10.0M$10.0M$10.0M

After tax loss

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream——$441.3M$441.3M$441.3M$441.3M

Goodwill impairment loss

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream$0.0$0.0$0.0$0.0$0.0$0.0
Upstream$0.0$0.0$0.0$0.0$0.0$0.0
Upstream$0.0$0.0$0.0$0.0$0.0$0.0

Restructuring Charges

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Upstream————$166.0M—

Products & Services

Cost of Product and Service Sold

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Oil And Gas Purchased$1.6B$1.6B$1.8B$1.8B$1.8B$1.8B

Geographic

Total Assets

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Non Us$153.1B$148.8B$145.3B$141.2B$191.5B$190.7B

Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Non Us—$35.5B———$32.0B

Equity in Earnings

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Non Us$913.0M$913.0M$649.0M$649.0M$649.0M$649.0M

Properties, plant and equipment, at cost

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
International—$184.9B———$242.6B

Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
International—$79.6B———$129.2B

Property, Plant and Equipment, Additions

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Non Us$1.2B$1.2B$14.7B$14.7B$14.7B$14.7B

Depreciation, Depletion and Amortization

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Non Us$2.1B$2.3B$1.8B$1.9B$2.7B$2.7B

Sales and other operating revenues

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Non Us$30.8B$30.4B$27.2B$27.5B$29.6B$28.5B

Income (loss) from equity affiliates

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
International$905.0M$559.0M$686.0M$493.0M$778.0M$640.0M

Cost of Product and Service Sold

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
International$18.5B$18.8B$17.4B$15.8B$16.8B$15.4B

Operating and SG&A expenses

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
International$3.1B$3.3B$2.5B$2.8B$3.1B$3.1B

Other costs and deduction

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
International$819.0M$920.0M$819.0M$982.0M$980.0M$1.0B

Costs and Expenses

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
International$24.5B$25.3B$22.6B$21.5B$23.5B$22.3B

Income Tax Expense (Benefit)

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Non Us$1.5B$2.9B$1.5B$1.3B$1.5B$1.5B

Less: Net income (loss) attributable to noncontrolling interests

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
International$3.0M$12.0M$7.0M$20.0M$19.0M$25.0M

Net income (loss) attributable to CUSA

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Non Us$3.1B$3.0B$2.1B$1.6B$2.5B$2.4B

Other income (loss)

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Int'l.$193.0M——-$168.0M$129.0M—

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