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.
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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Petrobras - Petroleo Brasileiro | 1,308.33 Bn | -5,263.99 Bn | 11.34 Bn | 0.71% |
| 2 | ExxonMobil Holdings | 651.52 Bn | 649.70 Bn | - | - |
| 3 | Chevron | 382.50 Bn | 382.83 Bn | 20.34 Bn | -50.03% |
| 4 | Eni Spa | 205.81 Bn | 195.97 Bn | - | 3.51% |
| 5 | Shell | 102.19 Bn | 62.32 Bn | 30.13 Bn | 28.64% |
| 6 | Equinor Asa | 98.30 Bn | 89.04 Bn | - | 36.94% |
| 7 | Suncor Energy | 78.77 Bn | 76.39 Bn | 6.68 Bn | 48.14% |
| 8 | Imperial Oil | 61.22 Bn | 60.47 Bn | - | - |
| 9 | TotalEnergies SE | 25.61 Bn | -6.11 Bn | 18.79 Bn | 32.74% |
| 10 | Ypf Sociedad Anonima | 20.09 Bn | 18.40 Bn | 1.76 Bn | 17.75% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -50.03% |
| Dec 31, 2025 | 30.16% |
| Sep 30, 2025 | -48.87% |
| Jun 30, 2025 | -52.19% |
| Mar 31, 2025 | 24.04% |
| Dec 31, 2024 | -57.89% |
| Sep 30, 2024 | -52.54% |
| Jun 30, 2024 | 24.39% |
| Mar 31, 2024 | -47.13% |
| Dec 31, 2023 | -270.84% |
| Sep 30, 2023 | 28.57% |
| Jun 30, 2023 | -48.35% |
| Mar 31, 2023 | 27.46% |
| Dec 31, 2022 | -358.96% |
| Sep 30, 2022 | -35.93% |
| Jun 30, 2022 | -42.94% |
| Mar 31, 2022 | -50.50% |
| Dec 31, 2021 | -72.91% |
| Sep 30, 2021 | 31.41% |
| Jun 30, 2021 | 32.10% |