Chevron Corporation
CVXNYSE
$229.20
Last price · USD
- Market cap
- $425.4B
- P/E
- 34.6x
- EV / EBITDA
- 11.2x
- P/S
- 2.3x
- FCF yield
- 3.9%
- Div. yield
- 3.00%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Chevron Corporation cash flow statement
Annual · USD millions except per-share data · 38 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 12,485 | 17,749 | 21,411 | 35,608 | 15,689 | -5.6% | |
| Depreciation & amortization | 20,132 | 17,282 | 17,326 | 16,319 | 17,925 | +2.9% | |
| Deferred income tax | 986 | 1,240 | 298 | 2,124 | 700 | +8.9% | |
| Stock-based compensation | 0 | 0 | 0 | 1,073 | 0 | — | |
| Change in working capital | (1,648) | 100 | (3,335) | 2,125 | (1,660) | — | |
| Accounts receivables | 3,697 | (818) | 1,337 | (2,164) | (7,527) | — | |
| Inventory | 51 | (574) | (320) | (930) | (530) | — | |
| Accounts payables | (3,469) | 2,569 | (49) | 2,750 | 5,475 | — | |
| Other working capital | (1,927) | (1,077) | (4,303) | 2,469 | 922 | — | |
| Other non-cash items | 1,984 | (4,879) | (91) | (7,647) | (3,467) | — | |
| Net cash from operating activities | 33,939 | 31,492 | 35,609 | 49,602 | 29,187 | +3.8% | |
| Operating cash flow | 33,939 | 31,492 | 35,609 | 49,602 | 29,187 | +3.8% | |
| Investing activities | |||||||
| Investments in PP&E | (17,347) | (16,448) | (15,829) | (11,974) | (8,056) | — | |
| Capital expenditure | (17,347) | (16,448) | (15,829) | (11,974) | (8,100) | — | |
| Acquisitions, net | (1,020) | 195 | 278 | (2,900) | 439 | — | |
| Purchases of investments | (16) | (6) | (289) | (7) | (4) | — | |
| Sales / maturities of investments | 17 | 47 | 464 | 124 | 3 | +54.3% | |
| Other investing activities | 2,455 | 7,276 | 144 | 2,649 | 1,753 | +8.8% | |
| Net cash from investing activities | (15,911) | (8,936) | (15,232) | (12,108) | (5,865) | — | |
| Financing activities | |||||||
| Net debt issuance | 5,866 | 3,568 | (4,055) | (8,479) | (12,936) | — | |
| Short-term net debt issuance | (1,061) | 4,868 | 135 | 263 | (5,572) | — | |
| Long-term net debt issuance | 6,927 | (1,300) | (4,190) | (8,742) | (7,364) | — | |
| Net stock issuance | (11,709) | (15,229) | (14,939) | (5,417) | (1,383) | — | |
| Common stock issuance | 370 | 0 | 0 | 0 | 0 | — | |
| Common stock repurchased | (12,079) | (15,400) | (14,939) | (11,255) | (1,383) | — | |
| Net common stock issuance | (11,709) | (15,400) | (14,939) | (11,255) | (1,383) | — | |
| Common dividends paid | (12,751) | (11,800) | (11,336) | (10,968) | (10,179) | — | |
| Net dividends paid | (12,751) | (11,800) | (11,336) | (10,968) | (10,179) | — | |
| Net preferred stock issuance | 0 | 171 | 0 | 5,838 | 0 | — | |
| Other financing activities | (469) | (11) | 221 | (114) | 1,385 | — | |
| Net cash from financing activities | (19,063) | (23,472) | (30,109) | (24,978) | (23,113) | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | 58 | (100) | (114) | (190) | (151) | — | |
| Net change in cash | (977) | (1,013) | (9,846) | 12,326 | 58 | — | |
| Cash at beginning of period | 8,262 | 9,275 | 19,121 | 6,795 | 6,737 | +5.2% | |
| Cash at end of period | 7,285 | 8,262 | 9,275 | 19,121 | 6,795 | +1.8% | |
| Free cash flow | 16,592 | 15,044 | 19,780 | 37,628 | 21,087 | -5.8% | |
| Income taxes paid | 7,304 | 8,458 | 10,416 | 9,148 | 4,355 | +13.8% | |
| Interest paid | 942 | 587 | 465 | 525 | 699 | +7.7% | |