Touchstone
Last syncOct 31, 2026, 6:54 PM ET

CVX

Chevron Corp Energy Petroleum Refining S&P 500Dow 30Russell 3000
$235.52Close $575.3BMarket cap $142.76 – $235.5252-week range Jan 29, 2027Next report · estimated
Stage 2 Leader 5th of 68

Highlights

Strengths

  • In a stage-2 uptrend all 8 trend conditions pass
  • Leading the market RS 88 · stronger than 88% of stocks over 12 months
  • Near its high at its 52-week high
  • Earnings growing EPS +323% year on year, faster than the quarter before (+368 pts)

Cautions

  • Extended 5.4 ATR above its 50-day average

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Aug 6, 2026
Off 12-month high 0%
1wk up 1.0% price change
1mo up 15.3% price change
12-month return up 59% market up 11% · its own up 47%
F-score 6 / 9 Mixed
Altman Z 4.31 Low risk
P/E 46.8× price / earnings
PEG — P/E / EPS growth
P/B 3.1× price / book
Earnings yield up 3.4% EBIT / enterprise value
Cheaper than 49% of the market · around average
Revenue growth down 5% year on year
EPS growth up 323% latest quarter · +368 pts
Sales growth up 51% latest quarter · +48 pts
ROE up 7% return on equity
Free cash margin up 9% $16.6B FCF
D/E 0.21 long-term debt / equity
Net debt / EBITDA 0.8×
Interest cover 17.2×EBIT / interest
Piotroski tests
  • profitability slipped from last year
  • took on more long-term debt
  • assets working less efficiently
  • profitable on its assets
  • generating cash from operations
  • profits backed by cash
  • short-term liquidity improved
  • no new shares issued
  • gross margin widened

Repair signals

  • Gross margin 38.4% → 41.3%

Trade setup

ATR% 1.9% $4.58 a day · 2×ATR $226.36
RS 88 / 99 vs the universe
Trend 8 / 8 trend template
Relative volume 1.3× vs 50-day average
Up/down volume 1.02 50 sessions
Implied move — no scheduled report
Trend template · 8 of 8

Screen verdict

1 of 3 screens
  • Stage 2 Leader in mixed conditions
    • RS 88
    • Trend 8/8
    • Off 12-month high 0%
    • EPS growth +323% (accel +368 pts)
    • Sales growth +51% (accel +48 pts)
    • Altman Z 4.31 (low risk)

Warning signs

1 flagged
  • Revenue shrinking Revenue fell 4.6% over the year, from $193.4B to $184.4B.
Last reported Oct 30, 2026
Results reaction Oct 30, 2026+4% vs market2 sessions after results
Options $55.1M29.3% IV · activity

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $184.4B -5% on FY2024
$0 $250B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $94.5B FY2021 · $155.6B FY2022 · $235.7B FY2023 · $196.9B FY2024 · $193.4B FY2025 · $184.4B
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $12.3B -31% on FY2024
-$10B $0 $50B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · -$5.5B FY2021 · $15.6B FY2022 · $35.5B FY2023 · $21.4B FY2024 · $17.7B FY2025 · $12.3B
Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology $16.6B +10% on FY2024
$0 $50B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $1.7B FY2021 · $21.1B FY2022 · $37.6B FY2023 · $19.8B FY2024 · $15.0B FY2025 · $16.6B
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Gross 41%
  • Net 7%
  • Free cash 9%
-10% 0% 50% FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Gross 45% · Net -6% · Free cash 2% FY2021 · Gross 41% · Net 10% · Free cash 14% FY2022 · Gross 38% · Net 15% · Free cash 16% FY2023 · Gross 39% · Net 11% · Free cash 10% FY2024 · Gross 38% · Net 9% · Free cash 8% FY2025 · Gross 41% · Net 7% · Free cash 9%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $32.5B net debt
  • Cash
  • Long-term debt
$0 $50B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Cash $5.6B · Long-term debt $42.8B FY2021 · Cash $5.6B · Long-term debt $31.1B FY2022 · Cash $17.7B · Long-term debt $21.4B FY2023 · Cash $8.2B · Long-term debt $20.3B FY2024 · Cash $8.3B · Long-term debt $20.1B FY2025 · Cash $7.3B · Long-term debt $39.8B
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 2.44bn +0.0% since FY2020
2.44bn FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · 2.44bn FY2021 · 2.44bn FY2022 · 2.44bn FY2023 · 2.44bn FY2024 · 2.44bn FY2025 · 2.44bn
  FY2020Dec 31, 2020 FY2021Dec 31, 2021 FY2022Dec 31, 2022 FY2023Dec 31, 2023 FY2024Dec 31, 2024 FY2025Dec 31, 2025
Revenue $94.5B $155.6B $235.7B $196.9B $193.4B $184.4B
Gross margin 45% 41% 38% 39% 38% 41%
Net income -$5.5B $15.6B $35.5B $21.4B $17.7B $12.3B
Net margin -6% 10% 15% 11% 9% 7%
Earnings per share -$2.96 $8.12 $18.30 $11.38 $9.74 $6.63
Free cash flow $1.7B $21.1B $37.6B $19.8B $15.0B $16.6B
Free cash margin 2% 14% 16% 10% 8% 9%
Cash $5.6B $5.6B $17.7B $8.2B $8.3B $7.3B
Long-term debt $42.8B $31.1B $21.4B $20.3B $20.1B $39.8B
Shareholders' equity $131.7B $139.1B $159.3B $161.0B $152.3B $186.4B
Shares outstanding 2.44bn 2.44bn 2.44bn 2.44bn 2.44bn 2.44bn

What options price now

Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
$221 – $251 ±6.4% by Nov 27, 2026
Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
Bigger 29.3% priced · 21.2% recent
Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
Choppier
Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
past week: no change
Positioning
Premium traded
$55.1M calls $48.9M · puts $6.2M · latest session
Puts against calls, by premium Money spent on puts divided by money spent on calls. Measured in dollars rather than contracts on purpose: counting contracts treats a hundred cheap lottery tickets as more meaningful than one large position, which is backwards. Methodology
0.13× -0.43 over the week
Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
calls -27.12k · puts -5.41k past week

For options traders: ATM IV 29.3% (-0.6% 1w) · 1m ÷ 3m IV 1.05 · 25Δ skew 1.5 pts · Net GEX $116.0M

Most traded contracts

No contract passed the liquidity filters this week.

Filings

SEC EDGAR
FiledReportPeriod to Lag
Aug 6, 2026 Quarterly ↗ Jun 30, 2026 37d
May 7, 2026 Quarterly ↗ Mar 31, 2026 37d
Feb 24, 2026 Annual ↗ Dec 31, 2025 55d
Nov 6, 2025 Quarterly ↗ Sep 30, 2025 37d
Aug 7, 2025 Quarterly ↗ Jun 30, 2025 38d
May 8, 2025 Quarterly ↗ Mar 31, 2025 38d
Feb 21, 2025 Annual ↗ Dec 31, 2024 52d
Nov 7, 2024 Quarterly ↗ Sep 30, 2024 38d
Aug 7, 2024 Quarterly ↗ Jun 30, 2024 38d
May 2, 2024 Quarterly ↗ Mar 31, 2024 32d
Feb 26, 2024 Annual ↗ Dec 31, 2023 57d
Nov 2, 2023 Quarterly ↗ Sep 30, 2023 33d

Current reports

FiledDisclosed
Oct 30, 2026 Results ↗
Oct 6, 2026 Regulation FD · Other events ↗
Oct 5, 2026 Director or officer change ↗
Jul 31, 2026 Results ↗
May 29, 2026 Shareholder vote ↗
May 29, 2026 Director or officer change ↗
May 1, 2026 Results ↗
Apr 9, 2026 Results ↗
Mar 25, 2026 Charter or bylaws ↗
Jan 30, 2026 Director or officer change ↗
Jan 30, 2026 Results ↗
Jan 27, 2026 Director or officer change ↗