Chevron Corp (CVX)
Fair ValueFundamental
62
Price
$204.21
Market Cap
$404.82B
Part 1 · What the company is worth
Overview
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations. It operates through Upstream and Downstream segments. The Upstream segment engages in the exploration for, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; carbon capture and storage; and operation of a gas-to-liquids plant. The Downstream segment refines crude oil into petroleum products; markets crude oil, refined products, and lubricants; manufactures and markets renewable fuels; transports crude oil and refined products through pipeline, marine vessel, motor equipment, and rail car; and manufactures and markets commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. The company operates in North America, South America, Europe, Africa, Asia, and Australia. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in May 2005. Chevron Corporation was founded in 1879 and is headquartered in Houston, Texas.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users
The other US integrated supermajor, competing with Chevron for the same oil and gas acreage — above all in the Permian Basin and in Guyana — and selling refined fuels and chemicals to the same customers worldwide.
Competes for the same upstream licences in Africa, the Middle East and offshore Latin America, and for the same LNG buyers in Europe and Asia.
The largest US independent producer, competing directly with Chevron's upstream arm for Permian and Alaskan acreage and for LNG offtake agreements.
Integrated European major that competes head-on with Chevron for LNG supply contracts, deepwater licences and service-station and lubricants customers on the same international markets.
Integrated major bidding against Chevron for exploration acreage and running competing refining, fuels-retail and lubricants businesses in the same regions.
Italian integrated major competing for the same exploration blocks in North and West Africa, Egypt and the Eastern Mediterranean, and for gas supply to the same European buyers.
Balance Sheet & Liquidity
Revenue
$208.71B
Trailing 12 months (through 6/30/2026)
Net Income
$20.59B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$16.59B
Total Equity
$186.45B
Total Liabilities
$131.84B
Current Ratio
1.25
Interest Coverage
-
Debt/EBITDA
0.73
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$182.74
Current Price
$204.21
Margin of Safety
-11.8%
Fair Value Range
$141.02 - $224.46
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
19.64
ROE
6.6%
P/B Ratio
2.12
P/FCF
14.94
Gross Margin
43.6%
ROIC
-
Profitability Radar
Value Creation (Economic Moat)
ROIC
-
WACC
7.5%
ROIC − WACC
-
Fundamental Analysis Criteria
Passed (18)
- Price CAGR 6.16%
- Gross Margin 43.6%
- P/FCF 14.94
- P/B Ratio 2.12
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 11.0%
- Revenue Growth 5Y 14.3%
- Analyst Consensus 83% Buy
- Earnings Surprise avg 16.8%
- Earnings Quality (OCF/NI) 2.20
- Share Dilution 2.1%
- Net Margin Trend 9.9% vs 7.3%
- Piotroski F-Score 5/9
Failed (5)
- EPS shows upward trend
- EPS CAGR -1.54%
- CapEx intensity
- Price below Graham Number
- DCF valuation (Overvalued)
Unavailable (5)
- ROIC NaN%
- Dividend Payout NaN%
- Operating Margin NaN%
- Interest Coverage
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Issuing new shares, diluting ownership
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Michael K. Wirth | Chairman & CEO | 64 |
| Ms. Eimear P. Bonner | Chief Financial Officer | 50 |
| Mr. R. Hewitt Pate J.D. | Chief Legal Officer | 62 |
| Mr. Mark A. Nelson | Vice Chairman & Executive VP of Oil, Products and Gas | 62 |
| Mr. Robert Clay Neff | President of Upstream | 63 |
| Mr. Amit Rajindrasingh Ghai | Controller & Principal Accounting Officer | 52 |
| Mr. T. Ryder Booth | Chief Technology & Engineering Officer | 56 |
| Ms. Jeanine Wai | Director of Investor Relations | 45 |
| Mr. Jake Robert Spiering | President of Corporate Business Development | 42 |
| Ms. Michelle R. Green | Chief Human Resources Officer | 52 |
Audit Risk
10
Board Risk
4
Compensation Risk
1
Shareholder Rights Risk
2
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-24
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-06
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-07-31
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for CVX, sourced from Markets Gazette.
- 29d agoPOSITIVEChevron, Eni Lead Wave of Deals to Boost Venezuela Oil Output
Chevron Corporation is set to benefit from new energy deals in Venezuela aimed at significantly boosting crude oil production. Alongside partners like Eni SpA and GE Vernova Inc., the US energy giant is participating in initiatives that signal a potential ramp-up in output from the South American nation. This development, supported by US Energy Secretary Chris Wright, suggests an improved operating environment and increased production capacity for Chevron, which could lead to higher revenues and profits. Investors will be watching for the impact on Chevron's global oil supply contribution and financial performance.
- 9/1/2026POSITIVEChevron is expanding in Venezuela as Trump pushes U.S. oil companies back into the country with 65 billion barrels up for grabs
Chevron Corporation is solidifying its position as the sole major U.S. oil operator in Venezuela, a nation holding an estimated 65 billion barrels of oil reserves. This strategic expansion occurs amidst a U.S. policy shift under the Trump administration, encouraging American oil firms to re-engage with the South American country. Chevron's continued presence and potential for increased operations in Venezuela, despite the historical nationalization of its oil industry nearly two decades ago, signals a significant opportunity for the company to tap into vast untapped resources. This move could bolster Chevron's global production and revenue streams, offering substantial upside for investors.
- 8/28/2026POSITIVEChevron in Talks to Expand in Venezuela Amid Broader US Push
Chevron Corporation is reportedly in discussions to increase its operational footprint in Venezuela, a move that aligns with a broader US strategy to bolster its influence within the nation's oil sector. This potential expansion could grant Chevron greater access to Venezuela's significant crude reserves, potentially boosting its production capacity and future revenue streams. For investors, this development signifies a strategic opportunity for Chevron to capitalize on a key energy market, provided geopolitical and operational risks can be effectively managed. The news suggests a positive outlook for Chevron's international growth prospects.
- 8/8/2026POSITIVEHow Chevron became the AI darling of Big Oil
Chevron Corporation is emerging as a frontrunner in the integration of Artificial Intelligence within the oil and gas sector, following a significant data center deal with Microsoft. This strategic partnership is poised to accelerate the adoption of AI technologies across Chevron's operations, potentially enhancing efficiency, optimizing resource extraction, and driving innovation in energy production. The move signals a forward-thinking approach by Chevron, positioning it as a leader in leveraging advanced technology to redefine the future of Big Oil and AI synergies, which could translate into improved financial performance and a stronger market position.
via Markets Gazette