Chevron (CVX) Gross Margin (2017 - 2026)
Chevron (CVX) reported Gross Margin of 41.85% for Q1 2026, up 391.0% on a YoY basis from 8.52% in Q1 2025, and down 8.87% quarter-over-quarter from 45.92% in Q4 2025.
Chevron (CVX) Gross Margin (2017 - 2026) Analysis & Trends
Chevron has reported Gross Margin for 10 years, with the latest figure at 41.85% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 391.0% year-over-year to 41.85%; the trailing twelve-month figure through Mar 2026 stood at 42.77% (up 275.0% YoY), and the FY2025 full-year result was 42.75%, up 154.0% from the prior year.
- Gross Margin for Q1 2026 stood at 41.85%, down from 45.92% in the prior quarter.
- The five-year high for Gross Margin was 45.92% in Q4 2025, with the low at 36.13% in Q1 2022.
- Historically, Gross Margin has averaged 40.3% across 5 years, with a median of 39.9% in 2024.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 902 bps — and 2023, when it surged 597 bps.
- Chevron's Gross Margin stood at 40.26% in 2022, then decreased by 2 bps to 39.64% in 2023, then increased by 7 bps to 42.27% in 2024, then gained by 9 bps to 45.92% in 2025, then decreased by 9 bps to 41.85% in 2026.
- The last three Gross Margin figures came in at 41.85% (Q1 2026), 45.92% (Q4 2025), and 43.12% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Petrobras - Petroleo Brasileiro | 1,901.04 Bn | 1,894.28 Bn | 11.34 Bn | 48.18% |
| 2 | Exxon Mobil | 629.96 Bn | 628.14 Bn | - | - |
| 3 | TotalEnergies SE | 621.59 Bn | 621.59 Bn | 26,816.00 | 49.51% |
| 4 | Shell | 546.31 Bn | 505.07 Bn | - | - |
| 5 | Chevron | 370.90 Bn | 376.56 Bn | 20.34 Bn | 41.85% |
| 6 | Cenovus Energy | 354.37 Bn | 352.41 Bn | 6.46 Bn | 71.73% |
| 7 | Eni Spa | 252.26 Bn | 242.70 Bn | - | - |
| 8 | Bp | 196.12 Bn | 159.56 Bn | - | - |
| 9 | Suncor Energy | 57.67 Bn | 55.06 Bn | 7.44 Bn | 66.17% |
| 10 | Imperial Oil | 42.92 Bn | 42.17 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 41.85% |
| Dec 31, 2025 | 45.92% |
| Sep 30, 2025 | 43.12% |
| Jun 30, 2025 | 40.08% |
| Mar 31, 2025 | 37.94% |
| Dec 31, 2024 | 42.27% |
| Sep 30, 2024 | 39.90% |
| Jun 30, 2024 | 39.69% |
| Mar 31, 2024 | 43.06% |
| Dec 31, 2023 | 39.64% |
| Sep 30, 2023 | 37.74% |
| Jun 30, 2023 | 38.61% |
| Mar 31, 2023 | 42.10% |
| Dec 31, 2022 | 40.26% |
| Sep 30, 2022 | 38.98% |
| Jun 30, 2022 | 37.77% |
| Mar 31, 2022 | 36.13% |
| Dec 31, 2021 | 37.21% |
| Sep 30, 2021 | 43.99% |
| Jun 30, 2021 | 45.13% |