Chevron annual operating margin
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2025
Chevron Operating Margin Growth & History (CVX)
Chevron's operating margin was 8.21% for fiscal 2025.
View full Chevron company overviewChevron annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 8.21% | −1.16 pp |
| 2024 | 2024-12-31 | 9.37% | −3.60 pp |
| 2023 | 2023-12-31 | 12.97% | −3.63 pp |
| 2022 | 2022-12-31 | 16.60% | +7.11 pp |
| 2021 | 2021-12-31 | 9.50% | +17.62 pp |
| 2020 | 2020-12-31 | −8.12% | −7.33 pp |
| 2019 | 2019-12-31 | −0.80% | −9.07 pp |
| 2018 | 2018-12-31 | 8.27% | +6.65 pp |
| 2017 | 2017-12-31 | 1.61% | +7.44 pp |
| 2016 | 2016-12-31 | −5.82% | −9.32 pp |
| 2015 | 2015-12-31 | 3.50% | −11.22 pp |
| 2014 | 2014-12-31 | 14.72% | −0.97 pp |
| 2013 | 2013-12-31 | 15.69% | −3.46 pp |
| 2012 | 2012-12-31 | 19.15% | +0.38 pp |
| 2011 | 2011-12-31 | 18.78% | +3.13 pp |
| 2010 | 2010-12-31 | 15.64% | +4.85 pp |
| 2009 | 2009-12-31 | 10.79% | −4.98 pp |
| 2008 | 2008-12-31 | 15.77% | +1.16 pp |
| 2007 | 2007-12-31 | 14.61% | — |
Chevron quarterly operating margin
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Q4.20
Q1.21
Q2.21
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Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
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Q3.24
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Q1.25
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Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 20.58% | +12.24 pp |
| Q1 2026 | 2026-03-31 | 6.09% | −2.75 pp |
| Q4 2025 | 2025-12-31 | 7.67% | +3.19 pp |
| Q3 2025 | 2025-09-30 | 8.01% | −1.69 pp |
| Q2 2025 | 2025-06-30 | 8.34% | −2.61 pp |
| Q1 2025 | 2025-03-31 | 8.84% | −3.58 pp |
| Q4 2024 | 2024-12-31 | 4.48% | −6.23 pp |
| Q3 2024 | 2024-09-30 | 9.70% | −2.97 pp |
| Q2 2024 | 2024-06-30 | 10.95% | −2.09 pp |
| Q1 2024 | 2024-03-31 | 12.42% | −3.07 pp |
| Q4 2023 | 2023-12-31 | 10.71% | −3.70 pp |
| Q3 2023 | 2023-09-30 | 12.67% | −5.71 pp |
| Q2 2023 | 2023-06-30 | 13.04% | −6.25 pp |
| Q1 2023 | 2023-03-31 | 15.49% | +2.12 pp |
| Q4 2022 | 2022-12-31 | 14.41% | +4.13 pp |
| Q3 2022 | 2022-09-30 | 18.38% | +4.52 pp |
| Q2 2022 | 2022-06-30 | 19.29% | +11.15 pp |
| Q1 2022 | 2022-03-31 | 13.37% | +9.43 pp |
| Q4 2021 | 2021-12-31 | 10.29% | +15.76 pp |
| Q3 2021 | 2021-09-30 | 13.86% | +15.93 pp |
| Q2 2021 | 2021-06-30 | 8.15% | +59.41 pp |
| Q1 2021 | 2021-03-31 | 3.94% | −3.97 pp |
| Q4 2020 | 2020-12-31 | −5.47% | +23.97 pp |
| Q3 2020 | 2020-09-30 | −2.08% | −9.87 pp |
| Q2 2020 | 2020-06-30 | −51.27% | −60.65 pp |
| Q1 2020 | 2020-03-31 | 7.91% | −0.71 pp |
| Q4 2019 | 2019-12-31 | −29.45% | −36.60 pp |
| Q3 2019 | 2019-09-30 | 7.80% | −1.27 pp |
| Q2 2019 | 2019-06-30 | 9.38% | +1.58 pp |
| Q1 2019 | 2019-03-31 | 8.62% | −0.49 pp |
| Q4 2018 | 2018-12-31 | 7.15% | +11.94 pp |
| Q3 2018 | 2018-09-30 | 9.07% | +8.05 pp |
| Q2 2018 | 2018-06-30 | 7.80% | +6.74 pp |
| Q1 2018 | 2018-03-31 | 9.11% | −0.25 pp |
| Q4 2017 | 2017-12-31 | −4.79% | +8.96 pp |
| Q3 2017 | 2017-09-30 | 1.02% | −2.66 pp |
| Q2 2017 | 2017-06-30 | 1.06% | +8.13 pp |
| Q1 2017 | 2017-03-31 | 9.36% | +16.63 pp |
| Q4 2016 | 2016-12-31 | −13.75% | −6.19 pp |
| Q3 2016 | 2016-09-30 | 3.68% | −4.43 pp |
| Q2 2016 | 2016-06-30 | −7.07% | −10.45 pp |
| Q1 2016 | 2016-03-31 | −7.26% | −15.67 pp |
| Q4 2015 | 2015-12-31 | −7.56% | −19.24 pp |
| Q3 2015 | 2015-09-30 | 8.11% | −8.10 pp |
| Q2 2015 | 2015-06-30 | 3.38% | −12.20 pp |
| Q1 2015 | 2015-03-31 | 8.41% | −6.48 pp |
| Q4 2014 | 2014-12-31 | 11.68% | −2.92 pp |
| Q3 2014 | 2014-09-30 | 16.21% | +1.11 pp |
| Q2 2014 | 2014-06-30 | 15.58% | +0.61 pp |
| Q1 2014 | 2014-03-31 | 14.88% | −3.21 pp |
| Q4 2013 | 2013-12-31 | 14.60% | −5.18 pp |
| Q3 2013 | 2013-09-30 | 15.10% | −2.01 pp |
| Q2 2013 | 2013-06-30 | 14.97% | −4.76 pp |
| Q1 2013 | 2013-03-31 | 18.10% | −1.78 pp |
| Q4 2012 | 2012-12-31 | 19.78% | +3.17 pp |
| Q3 2012 | 2012-09-30 | 17.11% | −3.59 pp |
| Q2 2012 | 2012-06-30 | 19.73% | +0.58 pp |
| Q1 2012 | 2012-03-31 | 19.88% | +1.45 pp |
| Q4 2011 | 2011-12-31 | 16.61% | +0.39 pp |
| Q3 2011 | 2011-09-30 | 20.70% | +6.88 pp |
| Q2 2011 | 2011-06-30 | 19.16% | +2.62 pp |
| Q1 2011 | 2011-03-31 | 18.43% | +2.55 pp |
| Q4 2010 | 2010-12-31 | 16.23% | +4.27 pp |
| Q3 2010 | 2010-09-30 | 13.82% | +0.55 pp |
| Q2 2010 | 2010-06-30 | 16.54% | +8.22 pp |
| Q1 2010 | 2010-03-31 | 15.88% | +7.10 pp |
| Q4 2009 | 2009-12-31 | 11.96% | −4.07 pp |
| Q3 2009 | 2009-09-30 | 13.27% | −4.91 pp |
| Q2 2009 | 2009-06-30 | 8.32% | −5.85 pp |
| Q1 2009 | 2009-03-31 | 8.78% | −5.93 pp |
| Q4 2008 | 2008-12-31 | 16.03% | — |
| Q3 2008 | 2008-09-30 | 18.18% | — |
| Q2 2008 | 2008-06-30 | 14.18% | — |
| Q1 2008 | 2008-03-31 | 14.72% | — |
Chevron operating margin trends
Over the last five fiscal years, Chevron's operating margin increased from −8.12% to 8.21%, a change of +16.33 percentage points. The latest reported quarter, Q2 2026, shows 20.58%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Chevron source filings ↗Community posts
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