Chevron (CVX) Gross Margin (2017 - 2026)
Chevron's (CVX) quarterly Gross Margin came in at 47.75% in Q2 2026, up 767.0% on a YoY basis from 5.51% in Q2 2025, and up 14.09% quarter-over-quarter from 41.85% in Q1 2026.
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Chevron (CVX) Gross Margin (2017 - 2026) Analysis & Trends
Chevron (CVX) has reported Gross Margin for 10 consecutive years, with 47.75% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 767.0% year-over-year to 47.75%; the trailing twelve-month figure through Jun 2026 stood at 45.36% (up 478.0% YoY), and the FY2025 full-year result was 42.75%, up 154.0% from the prior year.
- Gross Margin climbed to 47.75% in Q2 2026 per CVX's latest filing, from 41.85% in the prior quarter.
- Across five years, Gross Margin topped out at 47.75% in Q2 2026 and bottomed at 38.55% in Q1 2022.
- Historically, Gross Margin has averaged 41.75% across 5 years, with a median of 41.34% in 2022.
- The sharpest annual moves came in 2022 and 2026: Gross Margin tumbled 660 bps in 2022, then soared 767 bps in 2026.
- Over 5 years, Gross Margin stood at 42.33% in 2022, then fell by 6 bps to 39.64% in 2023, then gained by 7 bps to 42.27% in 2024, then climbed by 9 bps to 45.92% in 2025, then increased by 4 bps to 47.75% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 47.75%, 41.85%, and 45.92% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chevron | 417.01 Bn | 408.48 Bn | 33.45 Bn | 47.75% |
| 2 | Shell | 282.76 Bn | 241.90 Bn | 30.13 Bn | 31.83% |
| 3 | TotalEnergies SE | 232.43 Bn | 200.71 Bn | 23.46 Bn | 37.98% |
| 4 | Eni Spa | 167.27 Bn | 151.69 Bn | - | - |
| 5 | Equinor Asa | 114.69 Bn | 105.36 Bn | - | - |
| 6 | Phillips 66 | 106.05 Bn | 101.95 Bn | 8.38 Bn | 16.10% |
| 7 | Suncor Energy | 83.98 Bn | 78.60 Bn | 17.50 Bn | 92.04% |
| 8 | Imperial Oil | 63.06 Bn | 61.00 Bn | - | - |
| 9 | Occidental Petroleum | 59.24 Bn | 55.09 Bn | 7.73 Bn | 95.88% |
| 10 | Cenovus Energy | 58.88 Bn | 56.91 Bn | 7.32 Bn | 93.84% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 47.75% |
| Mar 31, 2026 | 41.85% |
| Dec 31, 2025 | 45.92% |
| Sep 30, 2025 | 44.90% |
| Jun 30, 2025 | 40.08% |
| Mar 31, 2025 | 39.91% |
| 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 | 40.22% |
| Jun 30, 2023 | 40.72% |
| Mar 31, 2023 | 42.10% |
| Dec 31, 2022 | 42.33% |
| Sep 30, 2022 | 41.85% |
| Jun 30, 2022 | 40.83% |
| Mar 31, 2022 | 38.55% |
| Dec 31, 2021 | 37.21% |
| Sep 30, 2021 | 46.69% |