Chevron (CVX) Operating Expenses (2009 - 2026)

Chevron has reported Operating Expenses for 18 years, with the latest figure at $7.7 billion in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses fell 81.74% year-over-year to $7.7 billion; the trailing twelve-month figure through Mar 2026 stood at $29.3 billion (down 78.95% YoY), and the FY2025 full-year result was $28.0 billion, down 84.02% from the prior year.
• Operating Expenses for Q1 2026 stood at $7.7 billion, up from $7.4 billion in the prior quarter.
• The five-year high for Operating Expenses was $46.2 billion in Q4 2024, with the low at -$125.2 billion in Q4 2022.
• Historically, Operating Expenses has averaged $13.8 billion across 5 years, with a median of $7.5 billion in 2025.
• Annual changes were most pronounced in 2022 — Operating Expenses plunged 2373.45% — and 2023, when it surged 632.07%.
• Chevron's Operating Expenses stood at -$125.2 billion in 2022, then soared by 134.9% to $43.7 billion in 2023, then gained by 5.67% to $46.2 billion in 2024, then slumped by 84.0% to $7.4 billion in 2025, then increased by 3.88% to $7.7 billion in 2026.
• The last three Operating Expenses figures came in at $7.7 billion (Q1 2026), $7.4 billion (Q4 2025), and $7.5 billion (Q3 2025), per Business Quant data.