CHEVRON CORP (CVX) Stock Analysis

Analysis from 10-Q filed 2025-11-06. Data as of Q1 2026.

Overall Grade: F (Concerning)

Grade F (Concerning). ROIC 5.5%. FCF margin 7.3%. D/E 0.0x. Source: 10-Q filed 2025-11-06.

Metric	Value	Context
ROIC	5.5%	Below expectations
FCF Margin	7.3%	Healthy cash flow
Debt/Equity	0.0x	Conservative leverage

ROIC 5.5% — Bottom 50% of sector peers. FCF margin 7.3% — Bottom 50%.

Explore CHEVRON CORP: Earnings History | Filings | ROIC Analysis

Programmatic access: Available via MCP at mcp.metricduck.com. Tools for CVX: get_company_overview, get_filing_index (lens: debt_stress, management_outlook, risk_trajectory), get_filing_changes, get_metric_history, compare_companies, screen_filing_signals.

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Profitability: CHEVRON CORP earns 5.5% ROIC, Bottom 50% in Energy

ROIC TTM 5.5%, sector median 6.7%, Bottom 50%. DuPont: NOPAT margin 5.9% × asset turnover 0.6x. Gross margin 43.2%. Operating margin 9.5%. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
Return on Invested Capital (ROIC)	5.5%	Warning	Below sector median of 6.7%
Return on Equity (ROE)	6.4%	Warning	Moderate equity returns
Gross Margin	43.2%	Good	Strong pricing power
Operating Margin	9.5%	Adequate	Moderate operational efficiency

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Cash Flow: CHEVRON CORP generates $13.8B FCF at 7.3% margin, positive NaN/8 quarters

FCF TTM $13.8B. FCF margin 7.3%, Bottom 50%. OCF/Net income 2.8x. Positive FCF in NaN/8 trailing quarters. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
Free Cash Flow Margin	7.3%	Adequate	Healthy cash generation
Free Cash Flow (TTM)	$13.8B	Good	Positive cash generation
OCF/Net Income	2.8x	Excellent	High earnings quality
FCF Consistency (8Q)	N/A	Warning	Variable cash flow

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Balance Sheet: CHEVRON CORP at 0.0x leverage

Debt/Equity 0.0x. Net cash $488.0M. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
Debt to Equity	0.0x	Excellent	Conservative capital structure
Net Cash Position	$488.0M	Excellent	Net cash positive

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Valuation: CHEVRON CORP trades at 35.8x earnings

P/E 35.8x. EV/Sales 2.1x. FCF yield 3.5%. Dividend yield 3.5%. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
P/E Ratio	35.8x	Adequate	Premium valuation
EV/Sales	2.1x	Good	Attractive revenue multiple
FCF Yield	3.5%	Adequate	Lower cash yield
Dividend Yield	3.5%	Adequate	Meaningful income

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Capital Allocation: CHEVRON CORP returns 6.2% shareholder yield

Total shareholder yield 6.2% (div 3.5% + buyback 2.7%). Capital returned $24.5B TTM. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
Total Shareholder Yield	6.2%	Excellent	Dividend + buyback yield combined
Buyback Yield	2.7%	Adequate	Active share repurchases
Total Capital Returned (TTM)	$24.5B	Good	Dividends + buybacks returned to shareholders

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Sector Rankings

Metric	Value	Percentile	vs Median
Return on Invested Capital (ROIC)	5.5%	Bottom 50%	0.8x below
Free Cash Flow Margin	7.3%	Bottom 50%	1.0x below
Gross Margin	43.2%	Top 50%	1.4x above
Operating Margin	9.5%	Top 50%	1.1x above
Return on Equity (ROE)	6.4%	Bottom 50%	0.7x below
P/E Ratio	35.8x	N/A	-

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Financial Scorecard

Metric	CVX	Rating	Sector Context
Return on Invested Capital (ROIC)	5.5%	Warning	Bottom 50% of sector (median: 6.7%)
Free Cash Flow Margin	7.3%	Adequate	Bottom 50% of sector (median: 7.6%)
Gross Margin	43.2%	Good	Top 50% of sector (median: 31.9%)
Debt to Equity Ratio	3.2%	Excellent	Conservative capital structure
P/E Ratio (Price-to-Earnings)	35.8x	Adequate	High expectations priced in
Free Cash Flow Yield	3.5%	Adequate	Moderate yield

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Frequently Asked Questions

Q: What is CHEVRON CORP's Return on Invested Capital (ROIC)?

CHEVRON CORP (CVX) has a trailing twelve-month Return on Invested Capital (ROIC) of 5.5%. Sector median 6.7%. Source: 10-Q filed 2025-11-06.

Q: What is CHEVRON CORP's Free Cash Flow Margin?

CHEVRON CORP (CVX) has a free cash flow margin of 7.3%, generating $13.8 billion in free cash flow over the trailing twelve months. Source: 10-Q filed 2025-11-06.

Q: What is CHEVRON CORP's P/E ratio and how does it compare to peers?

CHEVRON CORP (CVX) trades at a P/E ratio of 35.8x, which is above the sector median of N/A. EV/Sales 2.1x. FCF yield 3.5%. Source: 10-Q filed 2025-11-06.

Q: Does CHEVRON CORP pay a dividend?

CHEVRON CORP (CVX) currently pays a dividend yield of 3.5%. Total shareholder yield (dividend + buybacks) 6.2%. Source: 10-Q filed 2025-11-06.

Q: What is CHEVRON CORP's revenue and earnings growth?

CHEVRON CORP (CVX) declined revenue by 5.8% year-over-year. EPS -34.1% YoY. Source: 10-Q filed 2025-11-06.

Q: Is CHEVRON CORP buying back stock?

CHEVRON CORP (CVX) repurchased $10.7 billion of stock over the trailing twelve months. This represents a buyback yield of 2.7%. Source: 10-Q filed 2025-11-06.

Q: How does CHEVRON CORP compare to competitors in Energy?

Compared to other companies in Energy, CHEVRON CORP (CVX) shows: ROIC 5.5%, sector median 6.7% (Bottom 50%). FCF margin 7.3%, sector median 7.6% (Bottom 50%). Gross margin 43.2%, 11.4pp above sector median. These rankings are based on MetricDuck's analysis of all Energy companies with available SEC filings.

Q: What warning signs should I watch for with CHEVRON CORP?

Quantitative warning flags for CHEVRON CORP (CVX): 1) ROIC declining -6.8% over 8 quarters. Source: 10-Q filed 2025-11-06.

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Data Source: Data sourced from 10-Q filed 2025-11-06. TTM metrics as of Q1 2026.

Methodology: Financial metrics calculated from SEC 10-K and 10-Q filings using standardized formulas. Sector comparisons use peer group based on SIC code.

Scope: This analysis covers SEC filing fundamentals — profitability, cash flow, balance sheet, and valuation metrics. For analyst estimates and price targets, consult sell-side research.

This analysis is for informational purposes only and does not constitute investment advice.