CVX
Chevron Corporation
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Chevron Corporation.
Chevron Corporation is an integrated energy company engaged in exploration, production, refining, marketing, chemicals, and related midstream activities. Upstream operations produce crude oil and natural gas in the United States and internationally; downstream operations refine and market fuels and lubricants; and the company is expanding lower-carbon initiatives including carbon capture, hydrogen, and renewable fuels.
Coverage
Distillate Cracks Tripled to $106 a Barrel While Crude Fell. Our Refining Models Assume the Reverse.
Gulf Coast distillate cracks went from $30 a barrel in 3Q25 to $106 on 9 September while WTI fell. Chevron's and Exxon's model prices drift down from here.
Guyana's Stabroek Share Jumped 25 Points. Exxon Had Already Priced the 100,000-Barrel Cost.
Guyana's Stabroek entitlement jumped to 39.8%. Run the terms through Exxon's stake and the transfer costs 102.5 kb/d — the cost Exxon had already guided.
Chevron Q2 2026: Profits Nearly Quadruple as Middle East and Venezuela Turmoil Send Oil Prices Soaring
Chevron's Q2 2026 profit nearly quadrupled to $12.1B as Brent jumped 53% on Middle East and Venezuela turmoil, with record US output and $18.1B free cash flow.
Where the revenue goes next
Latest: $70.06B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $50.79B |
| 2023Q2 | $48.90B |
| 2023Q3 | $54.08B |
| 2023Q4 | $47.18B |
| 2024Q1 | $48.72B |
| 2024Q2 | $51.18B |
| 2024Q3 | $50.67B |
| 2024Q4 | $52.23B |
| 2025Q1 | $47.61B |
| 2025Q2 | $44.82B |
| 2025Q3 | $49.73B |
| 2025Q4 | $46.87B |
| 2026Q1 | $48.61B |
| 2026Q2 | $70.06B |
Latest: $6.11 (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $3.46 |
| 2023Q2 | $3.20 |
| 2023Q3 | $3.48 |
| 2023Q4 | $1.22 |
| 2024Q1 | $2.97 |
| 2024Q2 | $2.43 |
| 2024Q3 | $2.48 |
| 2024Q4 | $1.84 |
| 2025Q1 | $2.00 |
| 2025Q2 | $1.45 |
| 2025Q3 | $1.82 |
| 2025Q4 | $1.39 |
| 2026Q1 | $1.11 |
| 2026Q2 | $6.11 |
Latest: 15.9 (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | 8.8 |
| 2023Q2 | 10.0 |
| 2023Q3 | 12.5 |
| 2023Q4 | 13.1 |
| 2024Q1 | 14.5 |
| 2024Q2 | 15.5 |
| 2024Q3 | 16.2 |
| 2024Q4 | 14.9 |
| 2025Q1 | 19.1 |
| 2025Q2 | 18.4 |
| 2025Q3 | 21.8 |
| 2025Q4 | 23.0 |
| 2026Q1 | 35.9 |
| 2026Q2 | 15.9 |
Latest: $18.09B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $4.17B |
| 2023Q2 | $2.54B |
| 2023Q3 | $5.00B |
| 2023Q4 | $8.07B |
| 2024Q1 | $2.74B |
| 2024Q2 | $2.33B |
| 2024Q3 | $5.62B |
| 2024Q4 | $4.36B |
| 2025Q1 | $1.26B |
| 2025Q2 | $4.86B |
| 2025Q3 | $4.94B |
| 2025Q4 | $5.53B |
| 2026Q1 | −$1.55B |
| 2026Q2 | $18.09B |
Latest: 1.98B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | 1.90B |
| 2023Q2 | 1.88B |
| 2023Q3 | 1.88B |
| 2024Q1 | 1.85B |
| 2024Q2 | 1.83B |
| 2024Q3 | 1.81B |
| 2025Q1 | 1.75B |
| 2025Q2 | 1.72B |
| 2025Q3 | 1.95B |
| 2026Q1 | 1.99B |
| 2026Q2 | 1.98B |
Latest: $67.96B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $4.17B |
| 2023Q2 | $6.71B |
| 2023Q3 | $11.71B |
| 2023Q4 | $19.78B |
| 2024Q1 | $22.52B |
| 2024Q2 | $24.85B |
| 2024Q3 | $30.47B |
| 2024Q4 | $34.82B |
| 2025Q1 | $36.09B |
| 2025Q2 | $40.95B |
| 2025Q3 | $45.89B |
| 2025Q4 | $51.42B |
| 2026Q1 | $49.87B |
| 2026Q2 | $67.96B |
Latest earnings
Company History
Company origins trace to the Pacific Coast Oil Company, later becoming Standard Oil of California and eventually Chevron.
Chevron merges with Texaco, forming ChevronTexaco (later renamed back to Chevron).
Chevron announces a roughly $53 billion all-stock deal to acquire Hess Corporation, adding a stake in Guyana's Stabroek Block.
Restored Venezuela joint-venture production ramps to roughly 280,000 barrels/day, and Chevron signs a 20-year power agreement with Microsoft for a West Texas AI data center, coinciding with a Middle East/Venezuela-driven oil-price surge that nearly quadrupled Q2 profits.
Key Players
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Funds we follow holding CVX
By latest reported 13F position value. Market value at quarter-end, not cost basis.
