The Moat Index

Chevron Corp

CVX · Energy · $373.9B mkt cap · FY2025 filings · Not rated ·

Not rated

/ 100
Not rated

We don't have enough comparable filing data to score CVX on every filter, so we don't publish a composite. Missing: returnsOnCapital, balanceSheet.

20 years of fundamentals

The business, in plain English

Chevron Corp booked $184.4B of revenue in FY2025 in the Energy sector and kept 41.3% of it as gross profit — a solid-margin business by that measure. After every other cost, 6.7% of each revenue dollar reached the bottom line.

Across the filed record, revenue shrank from $220.9B (FY2007) to $184.4B (FY2025) — about −1.0% a year compounded over 18 years.

The balance sheet carried $50.7B of total debt in FY2025 against $15.1B of owner earnings — roughly 3.4 years of owner earnings to retire it all.

The share count has held roughly flat between FY2009 and FY2025. Capital Discipline scores it 69/100.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2006–FY2025 · 20 fiscal years, normalized from CVX’s SEC filings

RevenueSales, as filed$184.4B FY2025
$0$100B$200B2006201320202025
Gross marginRevenue kept after cost of goods41.3% FY2025
0%20%40%2006201320202025
Return on invested capitalOperating profit on the capital employed

Not disclosed in CVX’s filings for these years — we don’t estimate it.

Owner earningsCash an owner could take out$15.1B FY2025
$0$20B$40B2006201320202025

Gaps in a line mean that item isn’t in CVX’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Chevron Corp (CVX) Moat Score — The Moat Index · Buy Like Buffett