Chevron (CVX) Return on Capital Employed [ROCE] (2009 - 2026)
Chevron's Return on Capital Employed [ROCE] came in at -29.93% for Q2 2026, up 12.94 percentage points from -42.87% a year earlier and up 1.61 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 -34.41%, up 7.13 percentage points from FY2024.
- Return on Capital Employed [ROCE] carries a five-year change of -6.87 percentage points (FY2020 to FY2025).
- Going back by year, Return on Capital Employed [ROCE] was -41.54% in FY2024 (-2.14 pp), -39.41% in FY2023 (+5.25 pp), -44.65% in FY2022 (-11.48 pp) and -33.17% in FY2021 (-5.63 pp).
- The Q2 2026 figure represents the highest quarterly Return on Capital Employed [ROCE] since Q3 2021.
- Year-over-year, Return on Capital Employed [ROCE] has increased for four consecutive quarters, with an average year-over-year change of +3.69 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Capital Employed [ROCE] over five years came in Q2 2026 (a gain of 12.94 percentage points), and the weakest in Q3 2022 (a drop of 13.95 percentage points).
- Business Quant data shows CVX's Return on Capital Employed [ROCE] at -31.54% (Q1 2026), -30.31% (Q4 2025) and -36.26% (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 | 694.97 Bn | 658.18 Bn | - | 12.28% |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | 38.82% |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | -29.93% |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 39.24% |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | 5.20% |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 28.17% |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | -190.97% |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | - |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | - |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | 2.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -29.93% |
| Mar 31, 2026 | -31.54% |
| Dec 31, 2025 | -30.31% |
| Sep 30, 2025 | -36.26% |
| Jun 30, 2025 | -42.87% |
| Mar 31, 2025 | -42.95% |
| Dec 31, 2024 | -41.77% |
| Sep 30, 2024 | -41.30% |
| Jun 30, 2024 | -40.61% |
| Mar 31, 2024 | -39.15% |
| Dec 31, 2023 | -38.87% |
| Sep 30, 2023 | -38.91% |
| Jun 30, 2023 | -39.17% |
| Mar 31, 2023 | -40.92% |
| Dec 31, 2022 | -42.64% |
| Sep 30, 2022 | -43.35% |
| Jun 30, 2022 | -41.07% |
| Mar 31, 2022 | -37.34% |
| Dec 31, 2021 | -33.16% |
| Sep 30, 2021 | -29.40% |
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();