CHEVRON CORP

Listed Company

CVXCIK 0000093410NYSELarge AcceleratedPetroleum RefiningDelawareFY ends Dec 31

Period

FY 2025

Revenue

$189.03B

Net Income

$12.30B

Total Assets

$324.01B

Equity

$186.45B

Shares Out

2.00B

Op. Cash Flow

$33.94B

+ 13F Filer

Business

CHEVRON CORP manages investments in subsidiaries and provides administrative, financial, management and technology support for integrated energy and chemicals operations. It explores for, develops, produces and transports crude oil, natural gas and LNG; refines and markets petroleum products, lubricants and renewable fuels; manufactures petrochemicals and additives; and develops carbon capture, hydrogen, power and other new energy solutions. Its principal businesses operate through Upstream, Downstream (including marketing and refining), Chemicals, Transportation and New Energies/technology units. Chevron conducts global operations across North and South America, Europe, Africa, Asia and Australia and distributes products via pipelines, marine vessels, rail, and branded and third-party retail channels.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales and other operating revenues	184,432	193,414	196,913	235,717	155,606
Income (loss) from equity affiliates	3,000	4,596	5,131	8,585	5,657
Other income (loss)	1,599	4,782	−1,095	1,950	1,202
Total Revenues and Other Income	189,031	202,792	200,949	246,252	162,465
Purchased crude oil and products	108,214	119,206	119,196	145,416	92,249
Operating expenses	28,005	27,464	24,887	24,714	20,726
Selling, general and administrative expenses	5,126	4,834	4,141	4,312	4,014
Exploration expenses	1,051	995	914	974	549
Depreciation, depletion and amortization	20,132	17,282	17,326	16,319	17,925
Taxes other than on income	5,230	4,716	4,220	4,032	3,963
Interest and debt expense	1,217	594	469	516	712
Other components of net periodic benefit costs	313	195	212	295	688
Total Costs and Other Deductions	169,288	175,286	171,365	196,578	140,826
Income (Loss) Before Income Tax Expense	19,743	27,506	29,584	49,674	21,639
Income Tax Expense (Benefit)	7,258	9,757	8,173	14,066	5,950
Net Income (Loss)	12,485	17,749	21,411	35,608	15,689
Less: Net income (loss) attributable to noncontrolling interests	186	88	42	143	64
Net Income (Loss) Attributable to Chevron Corporation	12,299	17,661	21,369	35,465	15,625
Basic (in dollars per share)	6.65	9.76	11.41	18.36	8.15
Diluted (in dollars per share)	6.63	9.72	11.36	18.28	8.14

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	6,293	6,781	8,178	17,678	—
Time deposits	4	4	0	—	—
Marketable securities	0	0	45	223	35
Accounts and notes receivable (less allowance: 2025 - $176; 2024 - $259)	18,075	20,684	19,921	20,456	18,419
Crude oil and products	6,640	6,490	6,059	5,866	4,248
Chemicals	571	502	406	515	565
Materials, supplies and other	2,500	2,082	2,147	1,866	1,982
Total inventories	9,711	9,074	8,612	8,247	6,795
Prepaid expenses and other current assets	4,469	4,368	4,372	3,739	2,849
Total Current Assets	38,552	40,911	41,128	50,343	33,738
Long-term receivables, net (less allowances: 2025 - $216; 2024 - $352)	1,035	877	942	1,069	603
Investments and advances	43,867	47,438	46,812	45,238	40,696
Properties, plant and equipment, at cost	434,955	345,933	346,081	327,785	336,045
Less: Accumulated depreciation, depletion and amortization	215,226	198,134	192,462	184,194	189,084
Properties, plant and equipment, net	219,729	147,799	153,619	143,591	146,961
Deferred charges and other assets	16,236	14,854	13,734	12,310	12,384
Goodwill	4,568	4,578	4,722	4,722	4,385
Assets held for sale	25	481	675	436	768
Total Assets	324,012	256,938	261,632	257,709	239,535
Short-term debt	977	4,406	529	1,964	256
Accounts payable	19,280	22,079	20,423	18,955	16,454
Accrued liabilities	10,763	8,486	7,655	7,486	6,972
Federal and other taxes on income	844	1,872	1,863	4,381	1,700
Other taxes payable	1,523	1,715	1,788	1,422	1,409
Total Current Liabilities	33,387	38,558	32,258	34,208	26,791
Long-term debt	39,781	20,135	20,307	21,375	31,113
Deferred credits and other noncurrent obligations	24,543	22,094	24,226	20,396	20,778
Noncurrent deferred income taxes	30,014	19,137	18,830	17,131	14,665
Noncurrent employee benefit plans	4,111	3,857	4,082	4,357	6,248
Total Liabilities	131,836	103,781	99,703	97,467	99,595
Preferred stock (authorized 100,000,000 shares; $1.00 par value; none issued)	0	0	0	0	0
Common stock (authorized 6,000,000,000 shares; $0.75 par value; 2,442,676,580 shares issued at December 31, 2025 and 2024)	1,832	1,832	1,832	1,832	1,832
Capital in excess of par value	33,886	21,671	21,365	18,660	17,282
Retained earnings	205,365	205,852	200,025	190,024	165,546
Accumulated other comprehensive losses	−2,464	−2,760	−2,960	−2,798	−3,889
Deferred compensation and benefit plan trust	−240	−240	−240	−240	−240
Treasury stock, at cost (2025 - 448,260,458 shares; 2024 - 673,664,306 shares)	−51,929	−74,037	−59,065	—	—
Total Chevron Corporation Stockholders Equity	186,450	152,318	160,957	159,282	139,067
Noncontrolling interests	5,726	839	972	960	873
Total Equity	192,176	153,157	161,929	160,242	139,940
Total Liabilities and Equity	324,012	256,938	261,632	257,709	239,535

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Dry hole expense	325	429	436	486	118
Distributions more (less) than income from equity affiliates	2,282	−366	−885	−4,730	−1,998
Net before-tax gains on asset retirements and sales	−462	−1,685	−138	−550	−1,021
Net foreign currency effects	585	−629	578	−412	−7
Deferred income tax provision	986	1,240	298	2,124	700
Net decrease (increase) in operating working capital	−1,008	1,211	−3,185	2,125	−1,361
Decrease (increase) in long-term receivables	−132	114	150	153	21
Net decrease (increase) in other deferred charges	−508	−1,225	−300	−212	−320
Cash contributions to employee pension plans	−588	−844	−1,120	−1,322	−1,751
Other	−158	−1,784	1,038	13	1,192
Net Cash Provided by Operating Activities	33,939	31,492	35,609	49,602	29,187
Acquisition of businesses, net of cash received	1,056	0	55	−2,862	0
Acquisition of Hess Corporation common stock	−2,225	0	0	—	—
Capital expenditures	−17,347	−16,448	−15,829	−11,974	−8,056
Proceeds and deposits related to asset sales and returns of investment	1,826	7,704	669	2,635	1,791
Net maturities of (investments in) time deposits	1	−4	0	0	—
Net sales (purchases) of marketable securities	0	45	175	117	−1
Net repayment (borrowing) of loans by equity affiliates	778	−233	−302	−24	401
Net Cash Used for Investing Activities	−15,911	−8,936	−15,232	−12,108	−5,865
Net borrowings (repayments) of short-term obligations	−1,061	4,868	135	263	−5,572
Proceeds from issuances of long-term debt	11,402	478	150	0	0
Repayments of long-term debt and other financing obligations	−4,475	−1,778	−4,340	−8,742	−7,364
Cash dividends - common stock	−12,751	−11,801	−11,336	−10,968	−10,179
Net contributions from (distributions to) noncontrolling interests	−323	−195	−40	−114	—
Net sales (purchases) of treasury shares	−11,855	−15,044	−14,678	−5,417	38
Net Cash Provided by (Used for) Financing Activities	−19,063	−23,472	−30,109	−24,978	−23,113
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	58	−97	−114	−190	−151
Net Change in Cash, Cash Equivalents and Restricted Cash	−977	−1,013	−9,846	12,326	58

Filings

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Holdings (13F)

Portfolio as of 2025-12-31 · 1 positions

Reported AUM

Holdings

Top sector

Top sectors

Sector	Value	% of portfolio
Uncategorized	$0	0.0%

Top holdings

Issuer	Ticker	Shares	Value	%
-	—	0	$0	0.0%