What is Chevron's EBITDA margin?

Latest reported EBITDA margin for Chevron (CVX) is 21.75% as of the trailing twelve months (TTM) ending March 31, 2026.

How has Chevron EBITDA margin changed year-over-year?

Chevron (CVX) EBITDA margin changed −1.2 percentage points year-over-year on the latest annual filing.

When did Chevron EBITDA margin hit its highest annual value?

Chevron EBITDA margin reached its highest annual value of 28.42% in 2022.

What was Chevron EBITDA margin in 2024?

Chevron (CVX) EBITDA margin in 2024 was 23.69%.

What was Chevron EBITDA margin in 2025?

Chevron (CVX) EBITDA margin in 2025 was 22.46%.

Chevron (CVX) EBITDA Margin — Annual & Quarterly %

TTM

21.8%

YoY change

−1.23pp

Trough year (2020)

11.0%

Peak year (2022)

28.4%

EBITDA Margin history chart for Chevron (CVX) from 1992 to 2025

Latest: 22.5%

EBITDA Margin change chart for Chevron (CVX) from 1992 to 2025

Latest: −1.23pp

EBITDA Margin history table for Chevron (CVX) from 1992 to 2025


2025	22.5%	-1.23pp	Dec 31, 2025	Feb 24, 2026
2024	23.7%	-0.60pp	Dec 31, 2024	Feb 21, 2025
2023	24.3%	-4.14pp	Dec 31, 2023	Feb 26, 2024
2022	28.4%	+3.12pp	Dec 31, 2022	Feb 23, 2023
2021	25.3%	+14.25pp	Dec 31, 2021	Feb 24, 2022
2020	11.0%	-6.33pp	Dec 31, 2020	Feb 25, 2021
2019	17.4%	-7.82pp	Dec 31, 2019	Feb 21, 2020
2018	25.2%	+4.86pp	Dec 31, 2018	Feb 22, 2019
2017	20.3%	+7.59pp	Dec 31, 2017	Feb 22, 2018
2016	12.7%	-5.27pp	Dec 31, 2016	Feb 23, 2017
2015	18.0%	-6.36pp	Dec 31, 2015	Feb 25, 2016
2014	24.4%	+5.26pp	Dec 31, 2014	Feb 20, 2015
2013	19.1%	-2.13pp	Dec 31, 2013	Feb 21, 2014
2012	21.2%	+0.13pp	Dec 31, 2012	Feb 22, 2013
2011	21.1%	-1.93pp	Dec 31, 2011	Feb 23, 2012
2010	23.0%	+4.82pp	Dec 31, 2010	Feb 24, 2011
2009	18.2%	-1.43pp	Dec 31, 2009	Feb 25, 2010
2008	19.6%	+1.02pp	Dec 31, 2008	Feb 26, 2009
2007	18.6%	-0.41pp	Dec 31, 2007	Mar 27, 2008
2006	19.0%	-1.35pp	Dec 31, 2006	Feb 28, 2007
2005	20.4%	-1.47pp	Dec 31, 2005	Mar 1, 2006
2004	21.9%	+0.71pp	Dec 31, 2004	Mar 3, 2005
2003	21.2%	+1.60pp	Dec 31, 2003	Mar 9, 2004
2002	19.6%	-3.42pp	Dec 31, 2002	Mar 17, 2003
2001	23.0%	+0.15pp	Dec 31, 2001	Mar 27, 2002
2000	22.8%	+1.85pp	Dec 31, 2000	Mar 28, 2001
1999	21.0%	+6.05pp	Dec 31, 1999	Mar 30, 2000
1998	14.9%	-4.42pp	Dec 31, 1998	Mar 31, 1999
1997	19.3%	+2.67pp	Dec 31, 1997	Mar 25, 1998
1996	16.7%	+1.65pp	Dec 31, 1996	Mar 26, 1997
1995	15.0%	-0.54pp	Dec 31, 1995	Mar 27, 1996
1994	15.6%	+1.39pp	Dec 31, 1994	Mar 30, 1995
1993	14.2%	-0.72pp	Dec 31, 1993	Mar 30, 1994
1992	14.9%	—	Dec 31, 1992	Dec 31, 1992

202522.5%-1.23pp
202423.7%-0.60pp
202324.3%-4.14pp
202228.4%+3.12pp
202125.3%+14.25pp
202011.0%-6.33pp
201917.4%-7.82pp
201825.2%+4.86pp
201720.3%+7.59pp
201612.7%-5.27pp
201518.0%-6.36pp
201424.4%+5.26pp
201319.1%-2.13pp
201221.2%+0.13pp
201121.1%-1.93pp
201023.0%+4.82pp
200918.2%-1.43pp
200819.6%+1.02pp
200718.6%-0.41pp
200619.0%-1.35pp
200520.4%-1.47pp
200421.9%+0.71pp
200321.2%+1.60pp
200219.6%-3.42pp
200123.0%+0.15pp
200022.8%+1.85pp
199921.0%+6.05pp
199814.9%-4.42pp
199719.3%+2.67pp
199616.7%+1.65pp
199515.0%-0.54pp
199415.6%+1.39pp
199314.2%-0.72pp
199214.9%—

EBITDA Margin values are taken from Chevron's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About EBITDA Margin at Chevron (CVX)

According to Chevron's latest reported financial statements, the company's latest reported EBITDA margin is 21.8%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending March 31, 2026 (reported May 7, 2026). Chart and table below cover the full reported history back to 1992.

The 2025 reading of Chevron (CVX) EBITDA margin is 22.46% – contracted 1.2 percentage points year-over-year.

28.42% stands as the all-time-high annual EBITDA margin, posted in 2022, against a low of 11.05% during 2020.

Chevron EBITDA Margin by Year

Chevron EBITDA Margin 2025: 22.5%

Chevron EBITDA margin in 2025 was 22.46%, contracted 1.2 percentage points from 2024.

Chevron EBITDA Margin 2024: 23.7%

2024's EBITDA margin for Chevron came in at 23.69%, contracted 0.6 percentage points from 2023.

Chevron EBITDA Margin 2023: 24.3%

Chevron posted EBITDA margin of 24.28% in 2023, contracted 4.1 percentage points from 2022.

Chevron EBITDA Margin 2022: 28.4%

In 2022, Chevron reported EBITDA margin of 28.42%, expanded 3.1 percentage points from 2021. This figure represents the highest annual value in the available history.

Chevron EBITDA Margin 2021: 25.3%

Chevron EBITDA margin in 2021 was 25.30%.

See more financial history for Chevron (CVX).

Sector peers by EBITDA Margin

Energy peers of Chevron (CVX), ranked by their latest EBITDA margin


Williams Companies (WMB)	59.5%
ConocoPhillips (COP)	38.5%
Enbridge (ENB)	27.6%
SLB (SLB)	19.6%
Exxon Mobil (XOM)	18.5%
Marathon Petroleum (MPC)	9.1%
Phillips 66 (PSX)	8.5%
Valero Energy (VLO)	7.2%

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