Downstream was the largest of Chevron Corp’s 4 reported lines in fiscal 2025, at $131.85B — 64% of $206.52B.
| Segment | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Downstream | $175.65B | $153.64B | $151.74B | $131.85B | |||||
| Upstream | $100.52B | $73.96B | $78.62B | $73.09B | |||||
| All Other | $332.00M | $612.00M | $1.30B | $1.29B | |||||
| Reportable Segment, Aggregation Before Other Operating | -$144.00M | -$264.00M | -$366.00M | $290.00M | |||||
| Total | $276.36B | $227.96B | $231.29B | $206.52B |
In fiscal 2025, which ended December 31, 2025, the 4 segments Chevron Corp reported in this breakdown added up to $206.52B. That is less than the $230.89B in its breakdown by region, so these segments do not account for all of its revenue that year. Downstream was the largest segment, at $131.85B or 63.8% of the total, followed by Upstream ($73.09B, 35.4%) and All Other ($1.29B, 0.6%). Together, the two largest segments made up 99.2% of this total.
Compared with fiscal 2024, every sizeable segment reported in both years shrank. Upstream held up best, down 7.0% to $73.09B, while Downstream fell the most, down 13.1% to $131.85B.
This breakdown covers every fiscal year from 2017 to 2025, as reported in Chevron Corp's annual filings.
International was the largest of Chevron Corp’s 2 reported lines in fiscal 2025, at $139.85B — 61% of $230.89B.
| Geography | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| International | $172.03B | $156.12B | $154.86B | $139.85B |
| United States | $172.59B | $167.13B | $160.83B | $91.04B |
| Total | $344.62B | $323.25B | $315.69B | $230.89B |
In fiscal 2025, which ended December 31, 2025, the 2 regions Chevron Corp reported in this breakdown added up to $230.89B. That was down 26.9% from $315.69B in fiscal 2024. International was the largest region, at $139.85B or 60.6% of the total, followed by United States ($91.04B, 39.4%).
Compared with fiscal 2024, every sizeable region reported in both years shrank. International held up best, down 9.7% to $139.85B, while United States fell the most, down 43.4% to $91.04B. Over fiscal 2022 to 2025, revenue across these regions went from $344.62B to $230.89B, a compound annual decline of 12.5%. International's share of the total rose from 49.9% to 60.6% over the same years.
This breakdown covers every fiscal year from 2022 to 2025, as reported in Chevron Corp's annual filings.
Chevron Corp (CVX) breaks its revenue down by segment and region. In fiscal 2025, its largest segment was Downstream, with $131.85B or 63.8% of the total, followed by Upstream at $73.09B (35.4%).
Downstream was Chevron Corp's largest segment in fiscal 2025, with $131.85B in revenue, 63.8% of the $206.52B reported across its 4 segments.
International was Chevron Corp's largest region in fiscal 2025, with $139.85B in revenue, 60.6% of the $230.89B reported across its 2 regions.
Every figure is taken from Chevron Corp's annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by segment covers fiscal 2017 to 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.