CVX
Chevron Corporation
$224.37
-0.28% 2026-10-19
EnergyS&P 500
CVXSPY
1W
+4.4%
1M
+7.1%
3M
+19.3%
6M
+24.6%
YTD
+51.3%
1Y
+52.3%
Grades vs sector
Momentum46th pct in sectorC
Momentum
46th pct in sector
12-1 return: +34.6%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Growth79th pct in sectorB+
Growth
79th pct in sector
Revenue growth (YoY): +53.5%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Value41st pct in sectorC
Value
41st pct in sector
Forward E/P: 6.8% · EBITDA/EV: 10.7%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Profitability46th pct in sectorC
Profitability
46th pct in sector
Profit margin: +9.8% · Return on equity: +12.2%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Revisionsno data–
Revisions
no data
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
Our models
Not held by any of our 3 live models right now.
Momentum Top 15
rank 106 of 499 · 12-1 momentum % 38.0
Quality Growthnot ranked (outside this model's universe or screens)
Momentum Blendnot in the current book
Key stats
Market cap$440.1B
P/E (trailing)21.2
P/E (forward)14.7
52-week range146.49 – 225.67
Revenue growth (YoY, latest qtr)+53.5%
Dividend yield3.16%
Analyst consensusBuy (24)
Mean price target$228.88 (+2%)
Valuation & fundamentals
Bottom line
Leans undervalued
Model read-out from the numbers below, not advice. Score +2 (DCF counts double).
▲DCF (base case)above the price by 467%
•Forward P/E vs sector14.7x vs median 13.6x
•Piotroski F-score5/9
•Analyst target+2% (24 analysts)
Discounted cash flow
CyclicalValued on average-cycle margins
Integrated Oil & Gas profits swing with the business cycle, so one year's cash flow can be far above or below normal. Instead of the last 12 months' free cash flow (45.3B, a 21% margin), the DCF and reverse DCF use the average free-cash-flow margin over FY2016–FY2025 (10 years: 16.3%) times current revenue = 35.1B. On trailing cash flow the base case would be $1,646; on mid-cycle cash flow it is $1,272. Glossary
Bear
$574
+156%
growth 14% · disc. 8.0% · term. 2.0%
Base
$1,272
+467%
growth 23% · disc. 7.0% · term. 2.5%
Bull
$2,629
+1072%
growth 28% · disc. 6.0% · term. 3.0%
Starting cash flow is mid-cycle: 16.3% average margin × current revenue = 35.1B (last 12 months: 45.3B at a 21% margin). On trailing cash flow the base case would be $1,646.
Reverse DCFfor context, not a signal
A normal DCF guesses future cash flows and works out a price. A reverse DCF runs it backwards: it starts from today's price and asks how fast free cash flow would have to grow to justify it. It tells you what the market is assuming, not whether the stock is cheap or expensive, and it is not a buy or sell signal. Glossary
Today's price implies shrinking cash flows: about -4% a year for 10 years.
Implied
-4%/yr
FCF, last 3 yrs
-12%/yr
FCF, last 5 yrs
+26%/yr
Revenue, last 3 yrs
-8%/yr
Revenue, last 5 yrs
+15%/yr
Same inputs as the DCF above: mid-cycle free cash flow 35.1B, 7.0% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–
Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.52 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.
Multiples vs Energy
P/E (trailing)
pricier
sector median 17.7× · 60th pct
21.2×pricier
Forward P/E
pricier
sector median 13.6× · 56th pct
14.7×pricier
EV / EBITDA
sector median 8.1×
–Price / sales
cheaper
sector median 2.2× · 42nd pct
2.0×cheaper
Price / book
pricier
sector median 1.9× · 60th pct
2.3×pricier
FCF yield
cheaper
sector median 7.7% · 65th pct
10.3%cheaper
Forward EPS $15.23 vs trailing $10.60 (+44% expected growth). Forward P/E uses analysts' next-12-month estimate.
Quality & financial health
Gross margin
45.4%
Operating margin
–
FCF margin
21.1%
Net margin
9.6%
Return on equity
10.8%
Return on invested capital
–
Net debt / EBITDA
–
Current ratio
1.3×
Interest cover
–
Cash conversion (OCF/NI)
2.2×
Piotroski F-score 5/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✗ No share dilution✗ Gross margin improved✗ Asset turnover improved
Analysts
Mean target
$229
+2%
Analysts
24
Buy
Range
$175–$253
low – high
● price · ◆ mean target
Annual history
| FY | Revenue | Net income | Free cash flow |
|---|---|---|---|
| 2025 | $189.0B | $12.3B | $33.9B |
| 2024 | $202.8B | $17.7B | $31.5B |
| 2023 | $200.9B | $21.4B | $35.6B |
| 2022 | $246.3B | $35.5B | $49.6B |
| 2021 | $162.5B | $15.6B | $29.2B |
| 2020 | $94.7B | $-5.5B | $10.6B |
From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR -8.4%.
Earnings
Next report: 2026-10-30 · before open · EPS est 4.89
EstimateActual (beat)Actual (miss)
| Report | EPS est | Actual | Surprise |
|---|---|---|---|
| 2026-07-31 | 5.57 | 6.06 | +8.8% |
| 2026-05-01 | 0.97 | 1.41 | +45.6% |
| 2026-01-30 | 1.44 | 1.52 | +5.2% |
| 2025-10-31 | 1.71 | 1.85 | +8.4% |
| 2025-08-01 | 1.74 | 1.77 | +1.7% |
| 2025-05-02 | 2.15 | 2.18 | +1.3% |
| 2025-01-31 | 2.11 | 2.06 | -2.3% |
| 2024-11-01 | 2.42 | 2.51 | +3.9% |
Quarterly revenue
| Quarter | Revenue | YoY |
|---|---|---|
| 2026-06-30 | $67.2B | +51.4% |
| 2026-03-31 | $47.6B | – |
| 2025-12-31 | $45.8B | – |
| 2025-09-30 | $48.2B | – |
| 2025-06-30 | $44.4B | – |
Analyst actions
Morgan Stanley
PT $226
2026-10-15 · main
Overweight → OverweightPT $226
TD Cowen
PT $225
2026-10-12 · main
Hold → HoldPT $225
UBS
PT $235
2026-10-08 · main
Buy → BuyPT $235
TD Cowen
PT $215
2026-09-28 · main
Hold → HoldPT $215
HSBC
PT $250
2026-09-25 · main
Buy → BuyPT $250
BMO Capital
PT $235
2026-09-03 · main
Outperform → OutperformPT $235
Recent dividends
2026-08-19: $1.780 · 2026-05-19: $1.780 · 2026-02-17: $1.780 · 2025-11-18: $1.710 · 2025-08-19: $1.710 · 2025-05-19: $1.710 · 2025-02-14: $1.710 · 2024-11-18: $1.630
Insider trades
Pate R. Hewitt
$506.6K
Chief Legal Officer · 2026-08-18
SELL$506.6K
Walz Andrew Benjamin
$3.4M
President, DM&C · 2026-08-17
SELL$3.4M
Wirth Michael K
$61.5M
Director, Chairman and CEO · 2026-08-14
SELL$61.5M
Wirth Michael K
$2.1M
Director, Chairman and CEO · 2026-08-14
SELL$2.1M
Gustavson Jeff B
$2.7M
President, New Energies · 2026-08-11
SELL$2.7M
Wirth Michael K
$1.0M
Director, Chairman and CEO · 2026-08-05
SELL$1.0M
Hess John B
$10.8M
Director · 2026-08-03
SELL$10.8M
Hess John B
$8.7M
Director · 2026-08-03
SELL$8.7M
Hess John B
$34.0M
Director · 2026-08-03
SELL$34.0M
Hess John B
$4.9M
Director · 2026-08-03
SELL$4.9M
Hess John B
$17.4M
Director · 2026-08-03
SELL$17.4M
Hess John B
$22.9M
Director · 2026-08-03
SELL$22.9M
News
Goldman Sachs Adjusts Price Target on Chevron to $241 From $228
MT Newswires · 2h ago
Why Did XOM, CVX, MPC Stocks Surge To 52-Week Highs Today?
Stocktwits · 7h ago
Chevron CEO disagrees with Scott Bessent's take on the economy
TheStreet · 9h ago
Berkshire beats the tech sell-off with Coke, Chevron and cash
TheStreet · 13h ago
Trump and Famous Billionaires Were Buying This Oil Stock
Insider Monkey · 16h ago
Better Oil Stock: Chevron (CVX) vs. ExxonMobil (XOM)
Motley Fool · 16h ago
Chevron Just Hit a Record High. Is the Stock Still a Buy?
Motley Fool · 17h ago
Is Chevron Stock Worth More Than Its Competitors?
Trefis · 18h ago
What Is The Market Seeing In Texas Pacific Land Stock?
Trefis · 20h ago
Earnings Estimates Moving Higher for Chevron (CVX): Time to Buy?
Zacks · 20h ago
Stats refreshed 2026-10-19 19:01:58 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now
coteau
Coteau Systematic StrategiesSystematic equity research and model portfolios.Coteau Systematic Strategies publishes research, model portfolios and tools. It does not manage money or offer investment advice. Model results are hypothetical. Data: Yahoo Finance (delayed), SEC EDGAR.