Chevron (CVX) Return on Capital Employed [ROCE] (2009 - 2026)
Chevron's Return on Capital Employed [ROCE] came in at 11.04% for Q2 2026, up 0.47 percentage points from 10.57% a year earlier and up 4.20 percentage points from the prior quarter.
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Analysis
Chevron (CVX) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Chevron's Return on Capital Employed [ROCE] was 8.15%, down 4.58 percentage points from FY2024.
- Return on Capital Employed [ROCE] has declined in each of the last three years, though with a five-year change of +11.27 percentage points (FY2020 to FY2025).
- Going back by year, Return on Capital Employed [ROCE] was 12.73% in FY2024 (-0.48 pp), 13.22% in FY2023 (-10.19 pp), 23.41% in FY2022 (+12.91 pp) and 10.50% in FY2021 (+13.62 pp).
- The Q2 2026 figure represents the highest quarterly Return on Capital Employed [ROCE] since Q1 2025.
- Year-over-year, Return on Capital Employed [ROCE] increased in 1 of the last eight quarters, with an average year-over-year change of -2.50 percentage points.
- The fastest year-over-year change in Return on Capital Employed [ROCE] over five years came in Q1 2022 (a gain of 27.76 percentage points), and the weakest in Q1 2024 (a drop of 10.26 percentage points).
- Business Quant data shows CVX's Return on Capital Employed [ROCE] at 6.84% (Q1 2026), 7.18% (Q4 2025) and 8.79% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 686.62 Bn | 644.76 Bn | - | 14.97% |
| 2 | Chevron | 416.14 Bn | 383.18 Bn | 31.26 Bn | 13.86% |
| 3 | Shell | 291.71 Bn | 151.98 Bn | - | 15.97% |
| 4 | TotalEnergies SE | 192.78 Bn | 63.86 Bn | 31,614.00 | 26.08% |
| 5 | Eni Spa | 167.56 Bn | 107.19 Bn | - | 7.67% |
| 6 | Conocophillips | 165.53 Bn | 138.24 Bn | 12.81 Bn | 28.17% |
| 7 | Equinor Asa | 108.87 Bn | 21.72 Bn | 4.49 Bn | - |
| 8 | Canadian Natural Resources | 101.39 Bn | 95.29 Bn | 9.35 Bn | - |
| 9 | Phillips 66 | 97.45 Bn | 81.24 Bn | 10.69 Bn | 26.83% |
| 10 | Suncor Energy | 83.77 Bn | 64.46 Bn | - | 7.13% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 13.86% |
| Jun 30, 2026 | 11.04% |
| Mar 31, 2026 | 6.84% |
| Dec 31, 2025 | 7.18% |
| Sep 30, 2025 | 8.79% |
| Jun 30, 2025 | 10.57% |
| Mar 31, 2025 | 11.70% |
| Dec 31, 2024 | 12.80% |
| Sep 30, 2024 | 11.35% |
| Jun 30, 2024 | 12.17% |
| Mar 31, 2024 | 12.44% |
| Dec 31, 2023 | 13.04% |
| Sep 30, 2023 | 16.20% |
| Jun 30, 2023 | 18.96% |
| Mar 31, 2023 | 22.70% |
| Dec 31, 2022 | 22.35% |
| Sep 30, 2022 | 21.36% |
| Jun 30, 2022 | 18.98% |
| Mar 31, 2022 | 13.69% |
| Dec 31, 2021 | 10.50% |
API Access
Chevron Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=CVX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=CVX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();