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Screener / SEC EDGAR /CIK 0000093410 /10-K filed Feb 24, 2026, compared with Feb 21, 2025 /Numbers from the XBRL of the 10-Ks
Energy peers:
VLOCVXMPCPSXCOPXOM
NYSE Energy · Oil Refining

Chevron Corporation CVX

CVX quote by TradingView
Headquarters
Houston, TX
CEO
Michael K. Wirth
Next results
around Jan 29, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $189.0B through the costs to a net profit of $12.3B · income statement of the 10-K

7% net margin
Revenue to Gross profit: $80.8BRevenue to Cost of revenue: $108.2BGross profit to Net profit: $12.3BGross profit to Costs, tax, other: $68.5B Revenue: $189.0B REVENUE $189.0B −7% Y/Y Gross profit: $80.8B · 43% margin GROSS PROFIT $80.8B 43% margin Cost of revenue: $108.2B · 57% of revenue COST OF REVENUE $108.2B 57% of revenue Net profit: $12.3B · 7% margin NET PROFIT $12.3B 7% margin · −30% Y/Y Costs, tax, other: $68.5B · 36% of revenue COSTS, TAX, OTHER $68.5B 36% of revenue
Gross profit $80.8B 43% margin
Net profit $12.3B 7% margin · −30% Y/Y
The full income statement, year by year

CVX among Energy peers

Six ratios from the latest 10-K. Each corner is the share of 20 peers the company is above, not a score.

Compare
Revenue growth: -6.8%, above 10% of 20 peers (their median 1.8%) REVENUE GROWTH -6.8% · above 10% Gross margin: 42.4%, above 71% of 7 peers (their median 25.2%) GROSS MARGIN 42.4% · above 71% Net margin: 11.6%, above 45% of 20 peers (their median 14.8%) NET MARGIN 11.6% · above 45% FCF margin: 14.6%, above 62% of 13 peers (their median 11.9%) FCF MARGIN 14.6% · above 62%
CVX Peer median Below the median

What changed

5 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 24, 2026 against Feb 21, 2025.

Risk factors
5 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Inventory growing faster than revenue
Inventory +7.0% vs revenue -6.8% (+13.8 pts)
10-K · XBRL
Critical audit matters changed
New this year: Acquisition of Hess - Valuation of Oil and Gas Properties (“As described in Note 29 to the consolidated financial statements, on July 18, 2025, the Company acquired Hess and recorded estimated fair values of the acquired properties, plant and equipment of approximately $73.5 billion, of which a significant portion relates to oil and gas properties. Oil and g”). Same as last year: The Impact of Proved Developed Crude Oil and Natural Gas Reserves on Upstream Property, Plant, and Equipment, Net
10-K · XBRL
Accounting checks
9 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Inventory growing faster than revenue
    Inventory +7.0% vs revenue -6.8% (+13.8 pts)
  • Critical audit matters changed
    New this year: Acquisition of Hess - Valuation of Oil and Gas Properties (“As described in Note 29 to the consolidated financial statements, on July 18, 2025, the Company acquired Hess and recorded estimated fair values of the acquired properties, plant and equipment of approximately $73.5 billion, of which a significant portion relates to oil and gas properties. Oil and g”). Same as last year: The Impact of Proved Developed Crude Oil and Natural Gas Reserves on Upstream Property, Plant, and Equipment, Net
  • Receivables -12.6% vs revenue -6.8% (-5.8 pts)
8 more checks with nothing to note
  • Cash from operations $33.9B vs net income $12.3B (FY ending Dec 31, 2025)
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

5 paragraphs in Risk Factors that were not in the 10-K filed Feb 21, 2025. Quoted as filed.

All 5 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    As a global energy company, Chevron is subject to a variety of risks. The following disclosures reflect our beliefs and opinions as to factors that could materially and adversely affect us in the future. References to past events are provided by way of example only and are not intended to be a complete listing or a representation as to…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    Chevron is incorporating artificial intelligence technologies into its processes and these technologies may present business, compliance, and reputational risks The company is increasingly utilizing artificial intelligence (“AI”) technologies in certain of its processes, information systems and various operations, and expects that AI…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    One of our subsidiaries acts as the general partner of a publicly traded limited partnership, Hess Midstream LP, which may involve a potential legal liability One of our subsidiaries acts as the general partner of Hess Midstream, a publicly traded limited partnership. Our control of the general partner of Hess Midstream may increase the…

New risk paragraphs, against peers

Latest 10-K of each, Energy companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$246.3B$200.9B$202.8B$189.0B
Net income$35.5B$21.4B$17.7B$12.3B
Operating cash flow$49.6B$35.6B$31.5B$33.9B
Free cash flow$37.6B$19.8B$15.0B$16.6B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$189.0B ▼ 6.8% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Chevron Corporation, Houston, TX · from the 10-K filed Feb 24, 2026

Chevron Corporation1, a Delaware corporation, manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to U.S. and international subsidiaries that engage in integrated energy and chemicals operations. Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; transporting, storage and marketing of natural gas; carbon capture and storage; and a gas-to-liquids plant.

Headquarters
Houston, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 30, 2026
Incorporated in
DE

Email alerts

Sources

The 10-K filed Feb 24, 2026 (open at SEC), compared with the 10-K filed Feb 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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