Chevron (CVX): analysis in plain words
Is Chevron cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Chevron (CVX) is listed on the NYSE and we classify it in oil and gas. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Chevron according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Chevron (CVX) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $216.96 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 15.9x | Price over earnings per share |
| Revenue growth | +34.8% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 11.9% | Profit for every 100 of sales |
| Net debt / EBITDA | 0.5x | Years of operating profit to repay debt |
| Dividend yield | 3.16% | Annual dividend over price |
| Market cap | $423.3 billion | What the stock market values it at |
The Chevron figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any CVX figure that is not available shows as N/A: we do not estimate it.
How Chevron makes money
Chevron reports two segments. Upstream, its main profit engine, produces oil and gas in the U.S., where the Permian Basin is central, as well as Australia, Kazakhstan and Guyana, the latter added through the Hess deal. Downstream refines crude and sells fuel at Chevron and Texaco stations, plus lubricants and chemicals.
Over the last 12 months, Chevron brought in revenue of $226.3 billion. For every 100 it sells, Chevron keeps 44.4 after the direct cost of what it sells (gross margin) and 18.0 after all operating costs (operating margin). With 43,039 full-time employees, that is about $5 million of revenue per employee.
Chevron against its sector
To know whether a Chevron figure is high or low you have to put it next to similar companies. This table compares Chevron with the median of the 14 oil and gas companies Fintols covers, with data as of November 4, 2026.
| Figure | Chevron | oil and gas median |
|---|---|---|
| P/E | 15.9x | 16.1x (14) |
| Revenue growth | +34.8% | +38.3% (14) |
| Net margin | 11.9% | 10.5% (14) |
| Dividend yield | 3.16% | 2.52% (14) |
| Net debt / EBITDA | 0.5x | 0.6x (13) |
In short, against the typical oil and gas company, Chevron pays a higher dividend yield and carries less debt. By size, Chevron ranks number 2 of 11 oil and gas companies quoted in USD on Fintols.
The bull case for Chevron
These are the strengths in the Chevron figures as of November 4, 2026:
- Chevron is selling more than a year ago: +34.8% in its latest quarter (the typical oil and gas company grew +38.3%).
- Analysts expect Chevron earnings to rise: its P/E on the next 12 months of estimated earnings is 13.3x, below the current 15.9x.
- For income seekers, Chevron pays a dividend yielding 3.16% at today's price, using 67% of its profit to fund it.
The main risk for Chevron
The Chevron figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: oil and gas prices, which it does not control and which swing its profit year to year, plus the energy transition.
Frequently asked questions about Chevron
Is it a good time to buy Chevron stock?
Fintols does not tell you whether to buy or sell Chevron, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Chevron stock trades at $216.96, 8% below its 52-week high ($236.48) and 48% above its low ($146.49). Its P/E is 15.9x against a oil and gas median of 16.1x, and 13.3x on the earnings analysts expect over the next 12 months. With Chevron, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Chevron pay a dividend?
Yes. As of November 4, 2026, Chevron pays $7.12 per share a year, which at today's price is a yield of 3.16%. It uses 67% of its profit to pay it. Its average dividend yield over the last five years is 3.85%. The oil and gas median on Fintols is 2.52%.
Is Chevron stock expensive?
It depends on what you compare it with. On P/E, Chevron trades at 15.9x its last 12 months of earnings: in line with the oil and gas median (16.1x). Including its debt, Chevron is valued at 8.1x its EBITDA (EV/EBITDA). A high P/E alone does not make Chevron expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Chevron's competitors?
On Fintols we compare Chevron with ConocoPhillips, ExxonMobil and Occidental, which are also in oil and gas. As of November 4, 2026, ConocoPhillips is worth $164.5 billion and trades on a P/E of 18.1; ExxonMobil is worth $690.5 billion and trades on a P/E of 17.4; Occidental is worth $57.3 billion and trades on a P/E of 16.3. Each has a side-by-side comparison with Chevron below.
Chevron competitors
- ConocoPhillips (COP) analysis · Chevron vs ConocoPhillips comparison
- ExxonMobil (XOM) analysis · Chevron vs ExxonMobil comparison
- Occidental (OXY) analysis · Chevron vs Occidental comparison
To understand Chevron better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Chevron: oil and gas stocks, S&P 500 companies and S&P 100 companies. Open the full CVX analysis with its valuation and scenarios. Educational content about Chevron, not investment advice.