The biggest changes in the 10-K filed 2026-02-24, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Net income
-30.4% Big change FY to 2025-12-31 vs 2024-12-31“Other income decreased in 2025 mainly due to the absence of before tax gains on asset sales in Canada, an unfavorable swing in foreign currency effects, and lower income from Venezuela.”
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“Return on Stockholders’ Equity (ROSE) Net income attributable to Chevron divided by average Chevron Corporation Stockholders’ Equity.”
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Cash from operations
+7.8% FY to 2025-12-31 vs 2024-12-31“Cash provided by operating activities in 2025 was $33.9 billion, compared to $31.5 billion in 2024, primarily as higher cash distributions from TCO and contributions from legacy Hess assets more than offset the impact of lower commodity prices.”
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Revenue
-4.6% FY to 2025-12-31 vs 2024-12-31“Sales and other operating revenues decreased in 2025 mainly due to lower crude oil and refined product prices, partially offset by higher crude oil and refined product sales volumes and higher natural gas prices and volumes.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
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