Chevron (CVX) Operating Margin (2017 - 2026)
Chevron's (CVX) quarterly Operating Margin came in at 50.03% in Q1 2026, down 7407.0% YoY from 0.68% in Q1 2025, and down 265.9% on a QoQ basis from 30.16% in Q4 2025.
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Chevron (CVX) Operating Margin (2017 - 2026) Analysis & Trends
Chevron (CVX) has 10 years of Operating Margin data on file, last reported at 50.03% in Q1 2026.
- Quarterly Operating Margin fell 7407.0% year-over-year to 50.03% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 30.25% (down 1444.0% YoY) and the FY2025 annual result came in at 27.94%, up 8020.0% from the prior year.
- Operating Margin declined to 50.03% in Q1 2026, from 30.16% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 30.16% in Q4 2025 to a low of 358.96% in Q4 2022.
- A 5-year average of 57.74% and a median of 48.35% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin tumbled 28604 bps — and 2024, when it jumped 21295 bps.
- Tracing CVX's Operating Margin over 5 years: stood at 358.96% in 2022, then advanced by 25 bps to 270.84% in 2023, then jumped by 79 bps to 57.89% in 2024, then soared by 152 bps to 30.16% in 2025, then sank by 266 bps to 50.03% in 2026.
- The last three Operating Margin figures came in at 50.03% (Q1 2026), 30.16% (Q4 2025), and 48.87% (Q3 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 517.27 Bn | 477.40 Bn | - | - |
| 2 | Chevron | 398.83 Bn | 395.97 Bn | 33.45 Bn | -28.44% |
| 3 | TotalEnergies SE | 190.54 Bn | 161.37 Bn | 23.46 Bn | -37.20% |
| 4 | Eni Spa | 166.18 Bn | 156.34 Bn | - | 5.19% |
| 5 | Equinor Asa | 103.49 Bn | 94.23 Bn | - | 36.94% |
| 6 | Suncor Energy | 78.09 Bn | 74.21 Bn | -8.45 Bn | 132.01% |
| 7 | Imperial Oil | 63.17 Bn | 61.11 Bn | - | - |
| 8 | Cenovus Energy | 59.48 Bn | 57.00 Bn | - | 25.71% |
| 9 | Gas Transporter Of The South | 21.19 Bn | -3,019.86 Bn | - | - |
| 10 | Ypf Sociedad Anonima | 19.74 Bn | 17.54 Bn | 2.97 Bn | 27.58% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -28.44% |
| Mar 31, 2026 | -50.03% |
| Dec 31, 2025 | -44.27% |
| Sep 30, 2025 | -44.21% |
| Jun 30, 2025 | -50.67% |
| Mar 31, 2025 | -48.37% |
| Dec 31, 2024 | -46.12% |
| Sep 30, 2024 | -47.29% |
| Jun 30, 2024 | -46.56% |
| Mar 31, 2024 | -40.68% |
| Dec 31, 2023 | -52.96% |
| Sep 30, 2023 | -43.62% |
| Jun 30, 2023 | -43.25% |
| Mar 31, 2023 | -39.16% |
| Dec 31, 2022 | -40.31% |
| Sep 30, 2022 | -35.93% |
| Jun 30, 2022 | -35.89% |
| Mar 31, 2022 | -44.80% |
| Dec 31, 2021 | -48.27% |
| Sep 30, 2021 | -35.29% |