CHEVRON CORP (CVX) Stock Analysis

Analysis from 10-Q filed 2025-11-06. Data as of Q2 2026.

Overall Grade: F (Concerning)

Grade F (Concerning). ROIC 9.4%. FCF margin 12.5%. D/E 0.1x. Source: 10-Q filed 2025-11-06.

Metric	Value	Context
ROIC	9.4%	Near cost of capital
FCF Margin	12.5%	Healthy cash flow
Debt/Equity	0.1x	Conservative leverage

ROIC 9.4% — Top 50% of sector peers. FCF margin 12.5% — Top 50%.

Explore CHEVRON CORP: Earnings History | Filings

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 9.4% ROIC, Top 50% in Energy

ROIC TTM 9.4%, sector median 6.2%, Top 50%. DuPont: NOPAT margin 9.7% × asset turnover 0.7x. Gross margin 45.4%. Operating margin 14.2%. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
Return on Invested Capital (ROIC)	9.4%	Adequate	Above sector median of 6.2%
Return on Equity (ROE)	11.3%	Adequate	Moderate equity returns
Gross Margin	45.4%	Good	Strong pricing power
Operating Margin	14.2%	Good	Moderate operational efficiency

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Cash Flow: CHEVRON CORP generates $27.0B FCF at 12.5% margin, positive NaN/8 quarters

FCF TTM $27.0B. FCF margin 12.5%, Top 50%. OCF/Net income 2.2x. Positive FCF in NaN/8 trailing quarters. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
Free Cash Flow Margin	12.5%	Good	Healthy cash generation
Free Cash Flow (TTM)	$27.0B	Good	Positive cash generation
OCF/Net Income	2.2x	Excellent	High earnings quality
FCF Consistency (8Q)	N/A	Warning	Variable cash flow

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Balance Sheet: CHEVRON CORP at 0.1x leverage

Debt/Equity 0.1x. Total debt $25.0B, cash & investments $9.6B. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
Debt to Equity	0.1x	Excellent	Conservative capital structure
Net Cash Position	$-15.4B	Warning	Net debt position

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Valuation: CHEVRON CORP trades at 15.8x earnings

P/E 15.8x. EV/Sales 1.7x. FCF yield 8.3%. Dividend yield 4.4%. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
P/E Ratio	15.8x	Adequate	Reasonable valuation
EV/Sales	1.7x	Excellent	Attractive revenue multiple
FCF Yield	8.3%	Excellent	Attractive cash return
Dividend Yield	4.4%	Good	Meaningful income

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Capital Allocation: CHEVRON CORP returns 7.9% shareholder yield

Total shareholder yield 7.9% (div 4.4% + buyback 3.4%). Capital returned $25.6B TTM. Source: 10-Q filed 2025-11-06.

Metric	CVX	Rating	Context
Total Shareholder Yield	7.9%	Excellent	Dividend + buyback yield combined
Buyback Yield	3.4%	Good	Active share repurchases
Total Capital Returned (TTM)	$25.6B	Good	Dividends + buybacks returned to shareholders

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Sector Rankings

Metric	Value	Percentile	vs Median
Return on Invested Capital (ROIC)	9.4%	Top 50%	1.5x above
Free Cash Flow Margin	12.5%	Top 50%	1.3x above
Gross Margin	45.4%	Top 50%	1.9x above
Operating Margin	14.2%	Top 50%	1.4x above
Return on Equity (ROE)	11.3%	Top 50%	1.3x above
P/E Ratio	15.8x	N/A	-

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Financial Scorecard

Metric	CVX	Rating	Sector Context
Return on Invested Capital (ROIC)	9.4%	Adequate	Top 50% of sector (median: 6.2%)
Free Cash Flow Margin	12.5%	Good	Top 50% of sector (median: 9.9%)
Gross Margin	45.4%	Good	Top 50% of sector (median: 23.9%)
Debt to Equity Ratio	13.2%	Excellent	Conservative capital structure
P/E Ratio (Price-to-Earnings)	15.8x	Adequate	Fair value
Free Cash Flow Yield	8.3%	Excellent	High cash return

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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 9.4%. Sector median 6.2%. 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 12.5%, generating $27.0 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 15.8x, which is above the sector median of N/A. EV/Sales 1.7x. FCF yield 8.3%. Source: 10-Q filed 2025-11-06.

Q: Does CHEVRON CORP pay a dividend?

CHEVRON CORP (CVX) currently pays a dividend yield of 4.4%. Total shareholder yield (dividend + buybacks) 7.9%. Source: 10-Q filed 2025-11-06.

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

CHEVRON CORP (CVX) grew revenue by 10.2% 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 $11.1 billion of stock over the trailing twelve months. This represents a buyback yield of 3.4%. 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 9.4%, sector median 6.2% (Top 50%). FCF margin 12.5%, sector median 9.9% (Top 50%). Gross margin 45.4%, 21.4pp 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?

No quantitative warning flags fired for CHEVRON CORP (CVX) on margin trend, FCF trend, ROIC trend, or leverage thresholds. 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 Q2 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.