Chevron (CVX) valuation
Chevron P/E ratio history
Chevron trades at 22.7 times its earnings over the last twelve months and 14.2 times the earnings analysts expect over the next twelve. At its last 8 fiscal year ends its P/E ranged from 9.8 (year to Dec 2022) to 78.3 (year to Dec 2019), with a median of 14.7.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $152.41 | $6.63 | 23.0 | 19.5 |
| Dec 31, 2024 | $144.84 | $9.72 | 14.9 | 13.1 |
| Dec 31, 2023 | $149.16 | $11.36 | 13.1 | 11.4 |
| Dec 31, 2022 | $179.49 | $18.28 | 9.8 | 10.4 |
| Dec 31, 2021 | $117.35 | $8.14 | 14.4 | 12.8 |
| Dec 31, 2020 | $84.45 | -$2.96 | n/m | — |
| Dec 31, 2019 | $120.51 | $1.54 | 78.3 | — |
| Dec 31, 2018 | $108.79 | $7.74 | 14.1 | — |
| Dec 31, 2017 | $125.19 | $4.85 | 25.8 | — |
| Dec 31, 2016 | $117.70 | -$0.27 | n/m | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Chevron valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| ChevronCVX | $469B | 22.7 | 14.2 | 2.2 |
| Exxon MobilXOM | $776B | 24.1 | 14.8 | 2.1 |
| Peer median | 24.1 | 14.8 | 2.1 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: CVX financials · CVX returns
No forecast, no recommendation. This page describes Chevron from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.