Downstream was Chevron’s largest segment in fiscal 2025, bringing in $131.85B of $206.52B (64%).
| 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 |
Chevron brought in $206.52B from its four segments in fiscal 2025, the year ended December 31, 2025. That is less than the $230.89B it reports by geography, so these segments do not cover all of its revenue. Downstream was the largest at $131.85B (63.8%), ahead of Upstream at $73.09B (35.4%) and All Other at $1.29B (0.6%). The remaining segment, Reportable Segment, Aggregation Before Other Operating, brought in $290.00M.
Compared with fiscal 2024, Upstream fell 7.0% to $73.09B and Downstream fell 13.1% to $131.85B.
International was Chevron’s largest region in fiscal 2025, bringing in $139.85B of $230.89B (61%).
| 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 |
Chevron brought in $230.89B from its two regions in fiscal 2025, the year ended December 31, 2025. That was down 26.9% from $315.69B in fiscal 2024. International was the largest at $139.85B (60.6%), ahead of United States at $91.04B (39.4%).
Compared with fiscal 2024, International fell 9.7% to $139.85B and United States fell 43.4% to $91.04B. From fiscal 2022 to 2025, combined revenue from these regions fell 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%.
Chevron (CVX) reports its revenue by segment and by geography. In fiscal 2025, Downstream was its largest segment, bringing in $131.85B (63.8% of the total), followed by Upstream at $73.09B (35.4%).
Downstream was Chevron's largest segment in fiscal 2025, bringing in $131.85B, or 63.8% of the $206.52B total across its four segments.
International was Chevron's largest region in fiscal 2025, bringing in $139.85B, or 60.6% of the $230.89B total across its two regions.
Every figure comes from Chevron's annual financial filings, as reported. Each line keeps the name Chevron gives it, and years follow its fiscal calendar.
Chevron's revenue by segment goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.