Chevron (CVX) Gross Margin (2017 - 2026)
Chevron's Gross Margin came in at 47.75% for Q2 2026, up 7.67 percentage points from 40.08% a year earlier and up 5.90 percentage points from the prior quarter.
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Analysis
Chevron (CVX) Gross Margin (2017 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Chevron reported Gross Margin of 45.36%, up 4.78 percentage points year-over-year; for FY2025, it came in at 42.75%, up 1.54 percentage points from FY2024.
- Gross Margin carries a five-year change of -2.18 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 41.22% in FY2024 (+0.53 pp), 40.68% in FY2023 (-0.26 pp), 40.95% in FY2022 (-2.27 pp) and 43.22% in FY2021 (-1.71 pp).
- The Q2 2026 figure represents the highest quarterly Gross Margin since Q2 2020.
- Year-over-year, Gross Margin has increased for five consecutive quarters, with an average year-over-year change of +2.23 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q2 2026 (a gain of 7.67 percentage points), and the weakest in Q1 2022 (a drop of 6.60 percentage points).
- Business Quant data shows CVX's Gross Margin at 41.85% (Q1 2026), 45.92% (Q4 2025) and 44.90% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 694.97 Bn | 658.18 Bn | - | - |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | 97.36% |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | 47.75% |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 100.00% |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | - |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 65.62% |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | 16.10% |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | - |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | 89.47% |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | - |
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% |
API Access
Chevron Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=CVX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "CVX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=CVX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();