Chevron Corp

Energy
Integrated oil Companies
www.chevron.com

Earnings Score
Moat Score
Safety Score

Market Cap $283.01B
PE 17
Debt $25.84B
Cash $5.76B
EV $303.09B
FCF $18.76B

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$16.68B
EBIT	$25.45B
ROE	11%
ROA	10%
FCF	$18.76B
Equity	$157.03B
Growth Stability	-62%
PE	16.97
PEG	0.33
PB	1.8
P/FCF	15.09
P/S	1.43
Price/Cash	0.02
Debt/Equity	0.16
Debt/FCF	1.38
Net Margins	10%
Gross Margins	41%
Op. Margins	13%
Earnings CAGR	16%
Sales Growth YoY	-6%
Sales Growth QoQ	-1%
Sales CAGR	7%
FCF CAGR	19%
Equity CAGR	0%
Earnings Stability	0.32
Earnings Growth YoY	-31%
Earnings Growth QoQ	1%
Earnings CAGR 5Y	51%

Sales CAGR 5Y	17%
FCF CAGR 5Y	44%
Equity CAGR 5Y	5%
Earnings CAGR 3Y	1%
Sales CAGR 3Y	1%
FCF CAGR 3Y	-16%
Equity CAGR 3Y	4%
Market Cap	$283.01B
Revenue	$197.75B
Dividend Yield	4%
Payout Ratio	72%
Assets	$259.23B
Total Debt	$25.84B
Cash	$5.76B
Shares Outstanding	1.8B
EV	303.09B
Earnings Score	21%
Moat Score	90%
Safety Score	65%
Final Score	58%
Working Capital	2.47B
Current Ratio	1.07
Gross Profit	$80.21B
Shares Growth 3y	-3%
Equity Growth QoQ	-2%
Equity Growth YoY	-6%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second- largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the U.S. and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2021 stood at 11.3 billion barrels of oil equivalent, including 6.1 billion barrels of liquids and 30.9 trillion cubic feet of natural gas.

SEC Filings

Direct access to Chevron Corp (CVX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Chevron Corp compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Chevron Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 16%

Stability 32%

loading chart...

Chevron Corp Discounted Cash Flow

Fully customizable DCF calculator online for Chevron Corp.

Years

Calculation mode

= $716B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$19B	$22B	$27B	$32B	$38B	$45B	$54B	$64B	$76B	$91B	$108B	$1.1T
DCF		$20B	$22B	$24B	$26B	$28B	$30B	$33B	$36B	$39B	$42B	$417B
Value	$716B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	9%	3%	-0%	6%	9%	2%	-6%	10%	14%	11%	10%
ROA	-	2%	-1%	4%	8%	3%	-3%	9%	19%	11%	10%
ROE	-	3%	-0%	6%	10%	2%	-4%	11%	22%	13%	11%

Net Margins (9.58%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-4.63	-10.46	6.86	2.64	2.78	32.71	1.85	0.73	1.28	1.38
Debt over Equity	0.23	0.3	0.38	0.33	0.29	0.25	0.41	0.28	0.17	0.16	0.16
Growth Stability	-	-	-	100%	100%	36%	-62%	100%	100%	100%	-62%

Good Debt/FCF ratio (1.38)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.16)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-62%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-35%	-17%	24%	17%	-12%	-35%	72%	52%	-18%	17%
Earnings YoY growth	-	-76%	-111%	-2K%	61%	-81%	-295%	-381%	127%	-40%	51%
Equity YoY growth	-	-1%	-5%	2%	4%	-7%	-9%	5%	15%	1%	5%
FCF YoY growth	-	156%	-48%	-235%	137%	-22%	-87%	1K%	78%	-47%	44%