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Chevron

DB:CHV
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CHV
DB
$151B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Chevron has significant price volatility in the past 3 months.
CHV Share Price and Events
7 Day Returns
18%
DB:CHV
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-32.3%
DB:CHV
34.4%
DE Oil and Gas
-14.2%
DE Market
CHV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chevron (CHV) 18% 6.5% -27.7% -32.3% -25.6% -26.7%
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • CHV underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • CHV underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
CHV
Industry
5yr Volatility vs Market

CHV Value

 Is Chevron undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Chevron to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Chevron.

DB:CHV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:CHV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.972 (1 + (1- 21%) (20.43%))
1.086
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.086 * 5.44%)
5.52%

Discounted Cash Flow Calculation for DB:CHV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chevron is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:CHV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.52%)
2020 6,014.00 Analyst x7 5,699.39
2021 8,748.00 Analyst x9 7,856.68
2022 11,672.00 Analyst x2 9,934.38
2023 16,506.00 Analyst x1 13,313.81
2024 16,814.00 Analyst x1 12,852.77
2025 16,994.09 Est @ 1.07% 12,310.87
2026 17,101.61 Est @ 0.63% 11,740.67
2027 17,157.35 Est @ 0.33% 11,162.75
2028 17,176.42 Est @ 0.11% 10,590.56
2029 17,169.68 Est @ -0.04% 10,032.61
Present value of next 10 years cash flows $105,494.00
DB:CHV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $17,169.68 × (1 + -0.39%) ÷ (5.52% – -0.39%)
$289,385.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $289,385.28 ÷ (1 + 5.52%)10
$169,093.88
DB:CHV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $105,494.00 + $169,093.88
$274,587.88
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $274,587.88 / 1,866.98
$147.08
DB:CHV Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:CHV represents 0.88555x of NYSE:CVX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88555x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 147.08 x 0.88555
€130.24
Value per share (EUR) From above. €130.24
Current discount Discount to share price of €76.14
= -1 x (€76.14 - €130.24) / €130.24
41.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Chevron is available for.
Intrinsic value
42%
Share price is €76.14 vs Future cash flow value of €130.24
Current Discount Checks
For Chevron to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Chevron's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Chevron's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Chevron's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chevron's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CHV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.55
NYSE:CVX Share Price ** NYSE (2020-04-08) in USD $85.98
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Chevron.

DB:CHV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CVX Share Price ÷ EPS (both in USD)

= 85.98 ÷ 1.55

55.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Chevron is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • Chevron is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Chevron's expected growth come at a high price?
Raw Data
DB:CHV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 55.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
43.3%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:CHV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 55.34x ÷ 43.3%

1.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Chevron is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Chevron's assets?
Raw Data
DB:CHV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $76.62
NYSE:CVX Share Price * NYSE (2020-04-08) in USD $85.98
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:CHV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CVX Share Price ÷ Book Value per Share (both in USD)

= 85.98 ÷ 76.62

1.12x

* Primary Listing of Chevron.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Chevron is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Chevron's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Chevron has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CHV Future Performance

 How is Chevron expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
43.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chevron expected to grow at an attractive rate?
  • Chevron's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Chevron's earnings growth is expected to exceed the Germany market average.
  • Chevron's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:CHV Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CHV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 43.3%
DB:CHV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts -1.4%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:CHV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CHV Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 31,874 13,782
2023-12-31 26,743 9,838
2022-12-31 143,685 28,621 10,617 5
2021-12-31 114,387 21,070 3,149 9
2020-12-31 105,004 15,603 -1,455 9
2020-04-08
DB:CHV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 139,865 27,314 2,924
2019-09-30 145,629 30,808 13,264
2019-06-30 152,955 32,560 14,731
2019-03-31 157,123 30,632 13,835
2018-12-31 158,902 30,618 14,824
2018-09-30 153,071 27,560 14,205
2018-06-30 142,991 23,488 12,110
2018-03-31 133,606 21,604 10,151
2017-12-31 127,485 20,338 9,195
2017-09-30 121,423 18,108 6,499
2017-06-30 116,785 17,922 5,830
2017-03-31 111,739 15,482 2,910

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Chevron's earnings are expected to grow significantly at over 20% yearly.
  • Chevron's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:CHV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Chevron Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CHV Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 7.55 7.55 7.55 1.00
2023-12-31 5.30 5.30 5.30 1.00
2022-12-31 5.65 7.85 3.80 9.00
2021-12-31 1.85 5.07 -1.05 13.00
2020-12-31 -0.56 2.90 -3.30 13.00
2020-04-08
DB:CHV Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.55
2019-09-30 7.02
2019-06-30 7.78
2019-03-31 7.30
2018-12-31 7.81
2018-09-30 7.49
2018-06-30 6.40
2018-03-31 5.38
2017-12-31 4.88
2017-09-30 3.46
2017-06-30 3.10
2017-03-31 1.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Chevron is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Chevron's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Chevron has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CHV Past Performance

  How has Chevron performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Chevron's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Chevron's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Chevron's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Chevron's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
Chevron's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Chevron Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CHV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 139,865.00 2,924.00 26,590.00
2019-09-30 145,629.00 13,264.00 26,087.00
2019-06-30 152,955.00 14,731.00 26,305.00
2019-03-31 157,123.00 13,835.00 26,313.00
2018-12-31 158,902.00 14,824.00 25,819.00
2018-09-30 153,071.00 14,205.00 25,809.00
2018-06-30 142,991.00 12,110.00 25,437.00
2018-03-31 133,606.00 10,151.00 24,706.00
2017-12-31 127,485.00 9,195.00 24,710.00
2017-09-30 121,423.00 6,499.00 24,623.00
2017-06-30 116,785.00 5,830.00 24,242.00
2017-03-31 111,739.00 2,910.00 24,765.00
2016-12-31 103,310.00 -497.00 25,867.00
2016-09-30 101,162.00 -1,500.00 26,340.00
2016-06-30 104,742.00 -746.00 27,240.00
2016-03-31 113,546.00 1,295.00 29,261.00
2015-12-31 122,566.00 4,587.00 29,420.00
2015-09-30 136,376.00 8,646.00 30,324.00
2015-06-30 155,115.00 12,202.00 31,282.00
2015-03-31 173,714.00 17,296.00 31,018.00
2014-12-31 192,308.00 19,241.00 31,452.00
2014-09-30 204,023.00 20,700.00 31,706.00
2014-06-30 208,697.00 20,057.00 31,637.00
2014-03-31 208,433.00 19,757.00 31,325.00
2013-12-31 211,664.00 21,423.00 30,967.00
2013-09-30 213,964.00 23,738.00 30,387.00
2013-06-30 213,081.00 24,041.00 30,086.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Chevron has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chevron used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Chevron has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Chevron's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Chevron has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CHV Health

 How is Chevron's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Chevron's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chevron is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chevron's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Chevron's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Chevron Company Filings, last reported 3 months ago.

DB:CHV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 145,208.00 26,673.00 5,749.00
2019-09-30 156,892.00 32,581.00 11,755.00
2019-06-30 157,451.00 30,369.00 8,571.00
2019-03-31 156,118.00 32,801.00 8,755.00
2018-12-31 155,642.00 34,314.00 10,345.00
2018-09-30 154,673.00 35,975.00 9,746.00
2018-06-30 153,380.00 38,377.00 7,686.00
2018-03-31 151,566.00 39,655.00 6,504.00
2017-12-31 149,319.00 38,654.00 4,822.00
2017-09-30 147,911.00 41,880.00 6,654.00
2017-06-30 147,388.00 42,771.00 4,775.00
2017-03-31 147,790.00 45,161.00 6,994.00
2016-12-31 146,722.00 46,019.00 7,001.00
2016-09-30 147,952.00 45,519.00 7,672.00
2016-06-30 148,325.00 45,017.00 9,084.00
2016-03-31 151,476.00 42,265.00 8,879.00
2015-12-31 153,886.00 38,452.00 11,332.00
2015-09-30 155,938.00 35,790.00 13,239.00
2015-06-30 155,891.00 31,831.00 12,521.00
2015-03-31 157,001.00 33,868.00 13,107.00
2014-12-31 156,191.00 27,722.00 13,215.00
2014-09-30 157,307.00 25,625.00 14,490.00
2014-06-30 154,747.00 23,458.00 14,235.00
2014-03-31 151,810.00 22,968.00 16,183.00
2013-12-31 150,427.00 20,300.00 16,516.00
2013-09-30 146,073.00 18,487.00 18,580.00
2013-06-30 144,164.00 19,873.00 22,296.00
  • Chevron's level of debt (18.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (17.8% vs 18.4% today).
  • Debt is well covered by operating cash flow (102.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.1x coverage).
X
Financial health checks
We assess Chevron's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Chevron has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CHV Dividends

 What is Chevron's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6%
Current annual income from Chevron dividends. Estimated to be 6.07% next year.
If you bought €2,000 of Chevron shares you are expected to receive €120 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Chevron's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • Chevron's dividend is above the markets top 25% of dividend payers in Germany (4.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:CHV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:CHV Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 5.81 1.00
2023-12-31 5.64 1.00
2022-12-31 5.59 12.00
2021-12-31 5.27 18.00
2020-12-31 4.87 18.00
2020-04-08
DB:CHV Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-29 5.160 5.994
2019-10-30 4.760 4.040
2019-07-31 4.760 4.022
2019-04-24 4.760 3.919
2019-01-30 4.760 3.914
2018-10-31 4.480 3.946
2018-07-25 4.480 3.746
2018-04-25 4.480 3.575
2018-01-31 4.480 3.869
2017-10-25 4.320 3.546
2017-04-26 4.320 3.967
2017-01-25 4.320 3.935
2016-10-26 4.320 3.839
2016-07-27 4.280 4.229
2016-04-27 4.280 4.173
2016-01-27 4.280 4.690
2015-10-28 4.280 4.826
2015-07-29 4.280 5.206
2015-04-29 4.280 4.275
2015-01-28 4.280 3.997
2014-10-29 4.280 3.850
2014-07-30 4.280 3.507
2014-04-30 4.280 3.354
2014-01-29 4.000 3.431
2013-10-30 4.000 3.299
2013-07-31 4.000 3.300
2013-04-24 4.000 3.262
2013-01-31 3.600 3.064
2012-10-31 3.600 3.309
2012-07-25 3.600 3.177
2012-04-25 3.600 3.502
2012-01-25 3.240 3.046
2011-10-26 3.240 3.110
2011-07-27 3.120 3.207
2011-04-27 3.120 3.022
2011-01-26 2.880 2.814
2010-10-27 2.880 3.297
2010-07-28 2.880 3.632
2010-04-28 2.880 3.892
2010-01-27 2.720 3.617
2009-10-28 2.720 3.498
2009-07-29 2.720 3.825
2009-04-29 2.600 3.892

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Chevron's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Chevron's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Chevron afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chevron has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CHV Management

 What is the CEO of Chevron's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike Wirth
COMPENSATION $20,640,623
AGE 58
TENURE AS CEO 2.2 years
CEO Bio

Mr. Michael K. Wirth, also known as Mike, serves as an Executive Vice President of Chevron Global Downstream LLC. Mr. Wirth has been Chairman and Chief Executive Officer of Chevron Corporation since February 1, 2018. He served as Executive Vice President of Midstream & Development at Chevron Corporation since February 2016 until January 2018. Previously, he served as an Executive Vice President of Downstream & Chemicals at Chevron Corporation since 2006 until 2015. He served as an Executive Vice President of Global Refining Marketing Lubricants Supply & Trading at Chevron Corporation. Mr. Wirth served as an Executive Vice President of Global Downstream at Chevron Corp. since March 2006. He served as the President of Global Supply and Trading of Chevron Corp. from July 14, 2003 to 2006. He joined Chevron in 1982 as a Design Engineer. He served as a Senior Retail Manager of Marketing for Western operations at Chevron since 1998 and General Manager of Retail Marketing since 1999. Mr. Wirth served as the President of Marketing for Caltex Corp. since July 2000. He served as the President of Global Supply and Trading for Asia/Middle East/Africa Marketing Business Unit at ChevronTexaco since October 2001. He served as Vice Chairman of Chevron Corporation since February 1, 2017 until January 2018. He served as a Non Executive Director of Amplefield Limited. He served as a Director of Caltex Australia Ltd. until December 5, 2003. He served as a Director of LG-Caltex in South Korea. Mr. Wirth holds a Bachelor of Science in Chemical Engineering from the University of Colorado, USA.

CEO Compensation
  • Mike's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Mike's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Chevron management team in years:

2.2
Average Tenure
56
Average Age
  • The tenure for the Chevron management team is about average.
Management Team

Mike Wirth

TITLE
Chairman & CEO
COMPENSATION
$21M
AGE
58
TENURE
2.2 yrs

Pierre Breber

TITLE
VP & CFO
COMPENSATION
$8M
AGE
55
TENURE
1 yrs

Joe Geagea

TITLE
Executive Vice President of Technology
COMPENSATION
$8M
AGE
60
TENURE
4.8 yrs

Jay Johnson

TITLE
Executive Vice President of Upstream
COMPENSATION
$11M
AGE
60
TENURE
6.3 yrs

Hew Pate

TITLE
VP & General Counsel
COMPENSATION
$6M
AGE
56
TENURE
10.7 yrs

Rhonda Morris

TITLE
VP & Chief Human Resources Officer
AGE
54
TENURE
1.3 yrs

Mark Nelson

TITLE
Executive Vice President of Downstream & Chemicals
AGE
56
TENURE
1.1 yrs

James Seutloadi

TITLE
Chairman & GM of Corporate & Government Affairs of Caltex Oil South Africa

Maria Lindenberg

TITLE
Chief Procurement Officer
TENURE
7.3 yrs

Jeff Gustavson

TITLE
Vice President of North America Exploration & Production Mid-Continent Business Unit
AGE
46
TENURE
2.2 yrs
Board of Directors Tenure

Average tenure and age of the Chevron board of directors in years:

4.4
Average Tenure
62
Average Age
  • The tenure for the Chevron board of directors is about average.
Board of Directors

James Seutloadi

TITLE
Chairman & GM of Corporate & Government Affairs of Caltex Oil South Africa
TENURE
15.5 yrs

Ron Sugar

TITLE
Lead Independent Director
COMPENSATION
$457K
AGE
70
TENURE
5.3 yrs

Mike Wirth

TITLE
Chairman & CEO
COMPENSATION
$21M
AGE
58
TENURE
2.2 yrs

Rick Hernandez

TITLE
Independent Director
COMPENSATION
$412K
AGE
63
TENURE
11.3 yrs

Wick Moorman

TITLE
Independent Director
COMPENSATION
$503K
AGE
67
TENURE
7.9 yrs

Alice Gast

TITLE
Independent Director
COMPENSATION
$419K
AGE
60
TENURE
7.3 yrs

Dambisa Moyo

TITLE
Independent Non-Executive Director
COMPENSATION
$403K
AGE
50
TENURE
3.5 yrs

Wanda Austin

TITLE
Independent Director
COMPENSATION
$416K
AGE
65
TENURE
3.3 yrs

John Frank

TITLE
Independent Director
COMPENSATION
$443K
AGE
62
TENURE
2.4 yrs

Jim Umpleby

TITLE
Independent Director
COMPENSATION
$405K
AGE
61
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Chevron individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
03. Mar 20 Buy Charles Moorman Individual 28. Feb 20 28. Feb 20 6,551 €83.14 €544,655
02. Mar 20 Buy John Frank Individual 27. Feb 20 28. Feb 20 1,000 €87.28 €85,369
26. Feb 20 Buy John Frank Individual 24. Feb 20 24. Feb 20 400 €96.38 €38,551
10. Feb 20 Buy John Frank Individual 06. Feb 20 06. Feb 20 500 €100.02 €50,009
09. Aug 19 Buy Debra Reed-Klages Individual 07. Aug 19 07. Aug 19 4,250 €105.20 €447,097
23. May 19 Sell Enrique Hernandez Individual 21. May 19 21. May 19 -2,100 €109.05 €-229,008
17. May 19 Sell Enrique Hernandez Individual 15. May 19 15. May 19 -4,200 €109.01 €-457,848
X
Management checks
We assess Chevron's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Chevron has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CHV News

Simply Wall St News

CHV Company Info

Description

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil and refined products; transporting crude oil and refined products through pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing commodity petrochemicals, and fuel and lubricant additives, as well as plastics for industrial uses. Chevron Corporation is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is headquartered in San Ramon, California.

Details
Name: Chevron Corporation
CHV
Exchange: DB
Founded: 1879
$138,717,902,727
1,866,978,650
Website: http://www.chevron.com
Address: Chevron Corporation
6001 Bollinger Canyon Road,
San Ramon,
California, 94583-2324,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CVX Common Stock New York Stock Exchange US USD 02. Jan 1968
DB CHV Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
XTRA CHV Common Stock XETRA Trading Platform DE EUR 02. Jan 1968
LSE 0R2Q Common Stock London Stock Exchange GB USD 02. Jan 1968
SWX CVX Common Stock SIX Swiss Exchange CH CHF 02. Jan 1968
ENXTBR CHTEX Common Stock Euronext Brussels BE USD 02. Jan 1968
WBAG CVX Common Stock Wiener Boerse AG AT EUR 02. Jan 1968
SNSE CVX Common Stock Santiago Stock Exchange CL USD 02. Jan 1968
BVC CVX Common Stock Bolsa de Valores de Colombia CO COP 02. Jan 1968
BMV CVX * Common Stock Bolsa Mexicana de Valores MX MXN 02. Jan 1968
ETLX CVX-U Common Stock Eurotlx IT EUR 02. Jan 1968
BOVESPA CHVX34 BDR EACH REPR 1/2 COM USD0.75 Bolsa de Valores de Sao Paulo BR BRL 27. Aug 2012
BASE CVX CEDEAR EACH REP 1/8 ORD USD0.75 Buenos Aires Stock Exchange AR ARS 28. Sep 2000
Number of employees
Current staff
Staff numbers
48,200
Chevron employees.
Industry
Integrated Oil and Gas
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 21:54
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/08
Last earnings filing: 2020/02/21
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.