Chevron Corporation

SWX:CVX Stock Report

Market Cap: CHF 243.1b

Chevron Valuation

Is CVX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CVX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CVX (CHF118.53) is trading below our estimate of fair value (CHF291.89)

Significantly Below Fair Value: CVX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CVX?

Key metric: As CVX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CVX. This is calculated by dividing CVX's market cap by their current earnings.
What is CVX's PE Ratio?
PE Ratio24x
EarningsUS$12.77b
Market CapUS$306.88b

Price to Earnings Ratio vs Peers

How does CVX's PE Ratio compare to its peers?

The above table shows the PE ratio for CVX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.5x
857 PetroChina
8.7x-0.76%HK$2.1t
SHEL Shell
14.4x8.62%UK£156.8b
XOM Exxon Mobil
16.9x8.22%US$510.2b
TTE TotalEnergies
9.9x6.19%€119.6b
CVX Chevron
24x11.85%CHF 306.9b

Price-To-Earnings vs Peers: CVX is expensive based on its Price-To-Earnings Ratio (24x) compared to the peer average (12.5x).

Price to Earnings Ratio vs Industry

How does CVX's PE Ratio compare vs other companies in the European Oil and Gas Industry?

11 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CVX 24.0xIndustry Avg. 11.7xNo. of Companies11PE0612182430+
11 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CVX is expensive based on its Price-To-Earnings Ratio (24x) compared to the European Oil and Gas industry average (11.7x).

Price to Earnings Ratio vs Fair Ratio

What is CVX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CVX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CVX's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CVX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 118.53
CHF 136.50
+15.16%
9.03%CHF 161.58CHF 98.22n/a24
Dec ’26n/a
CHF 139.17
0%
9.03%CHF 164.19CHF 99.80n/a25
Nov ’26n/a
CHF 137.43
0%
8.93%CHF 158.52CHF 99.78n/a25
Oct ’26n/a
CHF 135.11
0%
8.97%CHF 156.81CHF 98.70n/a23
Sep ’26n/a
CHF 134.91
0%
9.12%CHF 158.08CHF 99.50n/a23
Aug ’26n/a
CHF 133.35
0%
8.80%CHF 149.75CHF 99.83n/a22
Jul ’26n/a
CHF 129.75
0%
9.13%CHF 147.57CHF 98.38n/a23
Jun ’26n/a
CHF 134.38
0%
8.90%CHF 153.84CHF 102.56n/a22
May ’26n/a
CHF 138.91
0%
10.08%CHF 163.43CHF 102.87n/a21
Apr ’26n/a
CHF 156.35
0%
6.53%CHF 179.43CHF 137.89n/a23
Mar ’26n/a
CHF 159.62
0%
6.49%CHF 183.27CHF 140.84n/a23
Feb ’26n/a
CHF 161.02
0%
5.90%CHF 179.41CHF 142.07n/a23
Jan ’26n/a
CHF 158.82
0%
6.75%CHF 178.06CHF 139.19CHF 118.5323
Dec ’25n/a
CHF 152.95
0%
6.28%CHF 171.12CHF 135.83n/a23
Nov ’25n/a
CHF 147.32
0%
7.22%CHF 167.16CHF 126.24n/a23
Oct ’25n/a
CHF 145.10
0%
7.44%CHF 165.87CHF 126.95n/a22
Sep ’25n/a
CHF 150.15
0%
8.55%CHF 173.64CHF 130.44n/a22
Aug ’25CHF 171.97
CHF 158.91
-7.59%
8.62%CHF 179.97CHF 135.41n/a22
Jul ’25CHF 171.97
CHF 166.02
-3.46%
8.02%CHF 186.03CHF 139.97n/a22
Jun ’25CHF 171.97
CHF 168.00
-2.31%
7.96%CHF 187.88CHF 141.37n/a23
May ’25CHF 171.97
CHF 167.76
-2.45%
8.33%CHF 189.37CHF 136.05n/a24
Apr ’25CHF 171.97
CHF 160.29
-6.79%
6.72%CHF 180.90CHF 133.87n/a23
Mar ’25CHF 171.97
CHF 156.44
-9.03%
7.02%CHF 172.21CHF 130.04n/a25
Feb ’25CHF 171.97
CHF 152.51
-11.31%
6.76%CHF 167.38CHF 127.69n/a24
Jan ’25CHF 171.97
CHF 154.95
-9.90%
6.76%CHF 173.47CHF 128.36n/a24
CHF 134.02
Fair Value
11.6% undervalued intrinsic discount
24
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/01 01:07
End of Day Share Price 2025/12/30 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Chevron Corporation is covered by 50 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William SeleskyArgus Research Company
Yim ChengBarclays
Wei JiangBarclays