Chevron Corp
CVX—
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Chevron Corp AI Insights
Informational only. Not investment advice.Snapshot
- FCF TTM of 15.4B yields 5.3% on market cap - funds 6.76/share dividend (4.5% yield) with 1.4x coverage[Free Cash Flow]
- 219.5B PPE (67% of assets) vs 4.6B goodwill (2.4% of equity) - hard asset base minimizes impairment risk[Property, Plant & Equipment]
- Operating margin TTM 8.1% vs industry median 18.1% - commodity cycle compression despite 187B revenue scale[Operating Margin]
Watch Triggers
- Operating Margin: Falls below 5% TTM — Would signal dividend coverage stress - currently 8.1% already below industry
- Free Cash Flow: Drops below 12B annually — 13.2B dividend obligation requires FCF floor to avoid balance sheet funding
- Debt to Equity: Rises above 0.35 — Current 0.22 is strength; increase signals capital discipline erosion
Bull Case
Asset-heavy model with 219.5B PPE generates 31.8B operating cash flow TTM at 0.22 debt/equity - fortress balance sheet for M&A or buybacks
Property, Plant & EquipmentCash FlowDebt to Equity
Dividend yield 4.5% (6.76/share) with 15.4B FCF provides income floor; P/B 1.56x near tangible book of 185.3B
Dividends Paid Per ShareFree Cash FlowPrice to Book
Bear Case
Operating margin 8.1% TTM is 55% below industry median 18.1% - cost structure vulnerable if oil prices decline further
Operating MarginOperating Income
P/E 20.9x vs industry median 12.0x - premium valuation assumes margin recovery that may not materialize
P/E RatioNet Margin
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
FCF generation sustains dividend growth through commodity cycles with low balance sheet risk
1-3yhigh
- Debt/equity at 0.22 provides acquisition capacity
- 16.4B capex maintains production base
- 31.8B operating cash flow covers all obligations
Net debt 33.8B vs 190B equity = 0.18x leverageFCF 15.4B covers 13.2B dividends 1.2xInterest expense only 1.1B (3% of EBITDA)
Valuation Context
Caveats
Public Strategies Rankings
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CVX Fundamentals
Mining, Quarrying, and Oil and Gas Extraction → Oil and Gas Extraction
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$413.8B | — | ||
$448.26B | — | ||
31 | — | ||
$184.43B | -4.6% | — | |
$6.63 | -31.8% | — | |
9.04% | -0.7% | — | |
6.67% | -2.5% | — | |
$16.59B | +10.3% | — | |
7.26% | -4.0% | — | |
Beta 5Y (Monthly) | unknown | — |
CVX Dividend History
105 dividends
2026
$1.780002/17/26$1.7800
2025
$6.840011/18/25$1.7100
08/19/25$1.7100
05/19/25$1.7100
02/14/25$1.7100
2024
$6.520011/18/24$1.6300
08/19/24$1.6300
05/16/24$1.6300
02/15/24$1.6300
2023
$6.040011/16/23$1.5100
08/17/23$1.5100
05/18/23$1.5100
02/15/23$1.5100
2022
$5.680011/17/22$1.4200
08/18/22$1.4200
05/18/22$1.4200
02/15/22$1.4200
2021
$5.310011/17/21$1.3400
08/18/21$1.3400
05/18/21$1.3400
02/16/21$1.2900
2020
$5.160011/17/20$1.2900
08/18/20$1.2900
05/18/20$1.2900
02/14/20$1.2900
2019
$4.760011/15/19$1.1900
08/16/19$1.1900
05/16/19$1.1900
02/14/19$1.1900
2018
$4.480011/15/18$1.1200
08/16/18$1.1200
05/17/18$1.1200
02/15/18$1.1200
2017
$4.320011/16/17$1.0800
08/16/17$1.0800
05/17/17$1.0800
02/14/17$1.0800
2016
$4.290011/16/16$1.0800
08/17/16$1.0700
05/17/16$1.0700
02/16/16$1.0700
2015
$4.280011/16/15$1.0700
08/17/15$1.0700
05/15/15$1.0700
02/12/15$1.0700
2014
$4.210011/14/14$1.0700
08/15/14$1.0700
05/15/14$1.0700
02/12/14$1.0000
2013
$3.900011/14/13$1.0000
08/15/13$1.0000
05/15/13$1.0000
02/13/13$0.9000
2012
$3.510011/14/12$0.9000
08/15/12$0.9000
05/16/12$0.9000
02/15/12$0.8100
2011
$3.090011/16/11$0.8100
08/17/11$0.7800
05/17/11$0.7800
02/14/11$0.7200
2010
$2.840011/16/10$0.7200
08/17/10$0.7200
05/17/10$0.7200
02/12/10$0.6800
2009
$2.660011/16/09$0.6800
08/17/09$0.6800
05/15/09$0.6500
02/12/09$0.6500
2008
$2.530011/14/08$0.6500
08/15/08$0.6500
05/15/08$0.6500
02/13/08$0.5800
2007
$2.260011/14/07$0.5800
08/15/07$0.5800
05/16/07$0.5800
02/14/07$0.5200
2006
$2.010011/15/06$0.5200
08/16/06$0.5200
05/17/06$0.5200
02/14/06$0.4500
2005
$1.750011/16/05$0.4500
08/17/05$0.4500
05/17/05$0.4500
02/14/05$0.4000
2004
$1.530011/16/04$0.4000
08/17/04$0.4000
05/17/04$0.3650
02/13/04$0.3650
2003
$1.430011/14/03$0.3650
08/15/03$0.3650
05/15/03$0.3500
02/12/03$0.3500
2002
$1.400011/14/02$0.3500
08/15/02$0.3500
05/15/02$0.3500
02/13/02$0.3500
2001
$2.300011/14/01$0.3500
08/15/01$0.6500
05/16/01$0.6500
02/14/01$0.6500
2000
$2.600011/15/00$0.6500
08/16/00$0.6500
05/17/00$0.6500
02/16/00$0.6500
CVX Stock Splits
1 stock split
09/13/040.5:1 split
CVX SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/24/26 | 12/31/25 | 10-K | |
11/06/25 | 09/30/25 | 10-Q | |
08/07/25 | 06/30/25 | 10-Q | |
05/08/25 | 03/31/25 | 10-Q | |
02/21/25 | 12/31/24 | Unknown | |
11/07/24 | 09/30/24 | 10-Q | |
08/07/24 | 06/30/24 | 10-Q | |
05/02/24 | 03/31/24 | 10-Q | |
02/26/24 | 12/31/23 | 10-K | |
11/02/23 | 09/30/23 | 10-Q | |
08/03/23 | 06/30/23 | 10-Q | |
05/04/23 | 03/31/23 | 10-Q | |
02/23/23 | 12/31/22 | 10-K | |
11/03/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/04/22 | 03/31/22 | 10-Q | |
02/24/22 | 12/31/21 | 10-K | |
11/04/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/06/21 | 03/31/21 | 10-Q | |
02/25/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/05/20 | 06/30/20 | 10-Q | |
05/06/20 | 03/31/20 | 10-Q | |
02/21/20 | 12/31/19 | 10-K | |
11/07/19 | 09/30/19 | 10-Q | |
08/07/19 | 06/30/19 | 10-Q | |
05/02/19 | 03/31/19 | 10-Q | |
02/22/19 | 12/31/18 | 10-K | |
11/08/18 | 09/30/18 | 10-Q | |
08/02/18 | 06/30/18 | 10-Q | |
05/03/18 | 03/31/18 | 10-Q | |
02/22/18 | 12/31/17 | 10-K | |
11/02/17 | 09/30/17 | 10-Q | |
08/03/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/23/17 | 12/31/16 | 10-K | |
11/03/16 | 09/30/16 | 10-Q | |
08/04/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
02/25/16 | 12/31/15 | 10-K | |
11/06/15 | 09/30/15 | 10-Q | |
08/05/15 | 06/30/15 | 10-Q | |
05/07/15 | 03/31/15 | 10-Q | |
02/20/15 | 12/31/14 | 10-K | |
11/07/14 | 09/30/14 | 10-Q | |
08/06/14 | 06/30/14 | 10-Q | |
05/02/14 | 03/31/14 | 10-Q | |
02/21/14 | 12/31/13 | 10-K | |
11/08/13 | 09/30/13 | 10-Q | |
08/07/13 | 06/30/13 | 10-Q | |
05/02/13 | 03/31/13 | 10-Q | |
02/22/13 | 12/31/12 | 10-K | |
11/06/12 | 09/30/12 | 10-Q | |
08/02/12 | 06/30/12 | 10-Q | |
05/03/12 | 03/31/12 | 10-Q | |
02/23/12 | 12/31/11 | 10-K | |
11/03/11 | 09/30/11 | 10-Q | |
08/04/11 | 06/30/11 | 10-Q | |
05/05/11 | 03/31/11 | 10-Q | |
02/24/11 | 12/31/10 | 10-K | |
11/05/10 | 09/30/10 | 10-Q | |
08/05/10 | 06/30/10 | 10-Q | |
05/05/10 | 03/31/10 | 10-Q | |
02/25/10 | 12/31/09 | 10-K | |
11/05/09 | 09/30/09 | 10-Q | |
08/06/09 | 06/30/09 | 10-Q | |
05/07/09 | 03/31/09 | 10-Q | |
02/26/09 | 12/31/08 | 10-K | |
11/06/08 | 09/30/08 | 10-Q | |
08/07/08 | 06/30/08 | 10-Q | |
05/08/08 | 03/30/08 | Unknown | -- |
02/28/08 | 12/31/07 | 10-K | |
11/06/07 | 09/30/07 | 10-Q | |
08/03/07 | 06/30/07 | 10-Q | |
05/04/07 | 03/30/07 | Unknown | -- |
02/28/07 | 12/31/06 | 10-K | |
11/03/06 | 09/30/06 | 10-Q | |
08/03/06 | 06/30/06 | 10-Q | |
05/04/06 | 03/30/06 | Unknown | -- |
03/01/06 | 12/31/05 | 10-K | |
11/03/05 | 09/30/05 | 10-Q | |
08/03/05 | 06/30/05 | 10-Q | |
05/04/05 | 03/30/05 | Unknown | -- |
03/03/05 | 12/31/04 | 10-K | |
11/03/04 | 09/30/04 | 10-Q | |
08/04/04 | 06/30/04 | 10-Q | |
05/07/04 | 03/30/04 | Unknown | -- |
03/09/04 | 12/31/03 | 10-K | |
11/12/03 | 09/30/03 | 10-Q | |
06/30/03 | 06/30/03 | Unknown | -- |
05/09/03 | 03/30/03 | Unknown | -- |
03/17/03 | 12/31/02 | 10-K | |
11/12/02 | 09/30/02 | 10-Q | |
08/09/02 | 06/30/02 | 10-Q | |
05/15/02 | 03/30/02 | Unknown | -- |
03/27/02 | 12/31/01 | 10-K405 | |
11/13/01 | 09/30/01 | 10-Q | |
08/09/01 | 06/30/01 | 10-Q | |
05/11/01 | 03/31/01 | 10-Q | |
03/28/01 | 12/31/00 | 10-K | |
11/08/00 | 09/30/00 | 10-Q | |
08/09/00 | 06/30/00 | 10-Q | |
05/05/00 | 03/31/00 | 10-Q |