Company Valuation: Chevron Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,24,551 3,44,526 2,80,726 2,60,291 3,04,721 3,74,209 - -
Change - 53.43% -18.52% -7.28% 17.07% 22.8% - -
Enterprise Value (EV) 1 2,50,245 3,49,964 2,93,339 2,78,047 3,39,182 3,97,995 3,92,540 3,89,641
Change - 39.85% -16.18% -5.21% 21.99% 17.34% -1.37% -0.74%
P/E ratio 14.4x 9.82x 13.1x 14.9x 23x 12.5x 14.1x 15x
PBR 1.62x 2.18x 1.74x 1.73x 1.63x 1.89x 1.9x 1.9x
PEG - 0x -0.3x -1x -0.7x 0x -1.3x -2.41x
Capitalization / Revenue 1.38x 1.4x 1.4x 1.28x 1.61x 1.61x 1.77x 1.81x
EV / Revenue 1.54x 1.42x 1.46x 1.37x 1.79x 1.71x 1.86x 1.88x
EV / EBITDA 6.13x 5.19x 6.07x 6x 8.05x 5.79x 6.36x 6.49x
EV / EBIT 11.2x 6.97x 9.76x 9.89x 16.2x 9.12x 11x 11.1x
EV / FCF 11.1x 9.86x 14.8x 18.5x 20.4x 10.5x 12.1x 12.7x
FCF Yield 8.99% 10.1% 6.75% 5.39% 4.89% 9.55% 8.26% 7.89%
Dividend per Share 2 5.31 5.68 6.04 6.52 6.84 7.13 7.433 7.794
Rate of return 4.52% 3.16% 4.05% 4.5% 4.49% 3.77% 3.93% 4.12%
EPS 2 8.14 18.28 11.36 9.72 6.63 15.16 13.46 12.62
Distribution rate 65.2% 31.1% 53.2% 67.1% 103% 47% 55.2% 61.8%
Net sales 1 1,62,465 2,46,252 2,00,949 2,02,792 1,89,031 2,32,978 2,10,845 2,06,876
EBITDA 1 40,825 67,483 48,293 46,377 42,143 68,690 61,713 60,082
EBIT 1 22,351 50,190 30,053 28,100 20,960 43,634 35,611 35,036
Net income 1 15,625 35,465 21,369 17,661 12,299 28,859 24,540 23,785
Net Debt 1 25,694 5,438 12,613 17,756 34,461 23,787 18,332 15,432
Reference price 2 117.35 179.49 149.16 144.84 152.41 189.24 189.24 189.24
Nbr of stocks (in thousands) 19,13,518 19,19,471 18,82,048 17,97,091 19,99,354 19,77,430 - -
Announcement Date 28/01/22 27/01/23 02/02/24 31/01/25 30/01/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.48x1.71x5.79x3.77% 37TCr
13.45x3.34x6.45x5.13% 1,75000Cr
8.7x0.62x4.07x6.03% 29TCr
8.13x0.86x3.91x3.59% 24TCr
7.59x1.07x4.16x4.58% 20TCr
3.24x1.51x2.9x12.59% 11TCr
7.6x0.82x1.92x4.19% 9.39TCr
9.25x0.76x3.9x4.66% 7.98TCr
Average 8.81x 1.34x 4.14x 5.57% 39.24TCr
Weighted average by Cap. 11.47x 2.35x 5.49x 5.12%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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