Chevron Corporation

BVL:CVX Stock Report

Market Cap: US$291.8b

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 ($160) is trading below our estimate of fair value ($217.89)

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 Ratio17.5x
EarningsUS$16.68b
Market CapUS$291.78b

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 Average10.7x
SHEL Shell
13x5.0%UK£161.8b
857 PetroChina
5.8x-3.8%HK$1.5t
XOM Exxon Mobil
15.9x4.9%US$535.3b
TTE TotalEnergies
8x0.1%€130.2b
CVX Chevron
17.5x7.0%US$291.8b

Price-To-Earnings vs Peers: CVX is expensive based on its Price-To-Earnings Ratio (17.5x) compared to the peer average (10.7x).

Price to Earnings Ratio vs Industry

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

30 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CVX 17.5xIndustry Avg. 10.7xNo. of Companies83PE0816243240+
30 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CVX is expensive based on its Price-To-Earnings Ratio (17.5x) compared to the Global Oil and Gas industry average (10.7x).

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 Ratio17.5x
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
CurrentUS$160.00
US$170.84
+6.8%
7.2%US$194.00US$145.00n/a23
Nov ’25US$148.25
US$169.22
+14.1%
7.2%US$192.00US$145.00n/a23
Oct ’25US$149.45
US$171.46
+14.7%
7.4%US$196.00US$150.00n/a22
Sep ’25US$147.80
US$177.27
+19.9%
8.6%US$205.00US$154.00n/a22
Aug ’25n/a
US$181.90
0%
8.6%US$206.00US$155.00n/a22
Jul ’25n/a
US$183.84
0%
8.0%US$206.00US$155.00n/a22
Jun ’25n/a
US$184.20
0%
8.0%US$206.00US$155.00n/a23
May ’25n/a
US$182.49
0%
8.3%US$206.00US$148.00n/a24
Apr ’25n/a
US$177.03
0%
6.8%US$200.00US$148.00n/a23
Mar ’25n/a
US$178.05
0%
7.0%US$196.00US$148.00n/a25
Feb ’25n/a
US$176.78
0%
6.8%US$194.00US$148.00n/a24
Jan ’25n/a
US$178.65
0%
6.8%US$200.00US$148.00n/a24
Dec ’24n/a
US$181.19
0%
6.1%US$200.00US$160.00n/a24
Nov ’24n/a
US$183.09
0%
6.5%US$215.00US$166.00US$148.2524
Oct ’24n/a
US$186.05
0%
7.5%US$215.00US$165.00US$149.4526
Sep ’24n/a
US$185.46
0%
7.3%US$209.00US$165.00US$147.8026
Aug ’24n/a
US$183.50
0%
7.2%US$207.00US$161.00n/a26
Jul ’24n/a
US$185.88
0%
7.3%US$208.00US$161.00n/a25
Jun ’24n/a
US$186.48
0%
7.5%US$212.00US$161.00n/a25
May ’24n/a
US$190.67
0%
9.2%US$236.00US$161.00n/a27
Apr ’24n/a
US$190.71
0%
9.3%US$236.00US$161.00n/a28
Mar ’24n/a
US$191.46
0%
9.5%US$236.00US$149.00n/a28
Feb ’24n/a
US$192.39
0%
9.2%US$236.00US$149.00n/a28
Jan ’24n/a
US$189.32
0%
9.5%US$236.00US$149.00n/a28
Dec ’23n/a
US$189.57
0%
9.8%US$236.00US$143.00n/a28
Nov ’23n/a
US$185.75
0%
10.5%US$236.00US$143.00n/a28

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

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