Chevron Corporation (CVX) Valuation
Historical valuation analysis based on 1279 data points (2021-09-14 to 2026-10-16)
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with 2025 worldwide net oil-equiva...
Chevron Corporation (CVX) currently trades at a P/E ratio of 21.43 (historical range: 8.00–55.29, median: 15.80), placing it at the 77th percentile — above its historical average, P/S ratio of 2.05 (range: 1.16–2.35, 98th percentile — expensive relative to its history), EV/EBITDA of 16.24 (range: 2.79–23.27, 97th percentile).
Over the historical period (2021-09-14 to 2026-10-16), Chevron Corporation's P/E ratio has expanded by 39% over the observed period (from an average of 14.3 to 19.9).
Chevron Corporation trades well above its own historical valuation range across most metrics.
Historical Valuation Metrics
| Metric | Current | Median | %ile | Assessment |
|---|---|---|---|---|
| P/E Ratio | 21.43 | 15.80 | 77th | above its historical average |
| P/S Ratio | 2.05 | 1.43 | 98th | expensive relative to its history |
| EV/EBITDA | 16.24 | 3.64 | 97th | expensive relative to its history |
| FCF Yield | 6.12% | 6.68% | 30th | above its historical average |
Chevron Corporation (CVX) Valuation & P/E History
Chevron Corporation (CVX) is a US-listed stock operating in the Energy sector, specifically the Oil & Gas Integrated industry currently trading at $225.03 with a market capitalization of $441.4 billion. This page provides historical valuation analysis for CVX based on 1279 data points covering 2021-09-14 to 2026-10-16. The P/E ratio of 21.43 is above the historical median of 15.80, placing CVX at the 77th percentile of its valuation range. The P/S ratio of 2.05 compares to a median of 1.43.
CVX Valuation Metrics & Historical Range
The valuation table above shows Chevron Corporation's current and historical valuation multiples, including P/E ratio, P/S ratio, EV/EBITDA, FCF yield, and dividend yield. Each metric is compared to its own historical range to determine whether CVX is currently trading above or below its typical valuation levels.
- P/E ratio: Price-to-earnings measures how much investors pay per dollar of earnings. A P/E above the historical median suggests CVX is expensively valued; below the median suggests it is cheap.
- P/S ratio: Price-to-sales is useful for companies with volatile or negative earnings. Lower P/S relative to history may indicate value.
- EV/EBITDA: Enterprise value to EBITDA adjusts for debt and cash, providing a capital-structure-neutral valuation measure for Chevron Corporation.
- FCF yield: Free cash flow yield shows the cash return relative to market price. Higher yields may indicate undervaluation.
Is CVX Overvalued or Undervalued?
Chevron Corporation trades well above its own historical valuation range across most metrics. The overall valuation percentile of 91 combines P/E, P/S, and EV/EBITDA percentiles into a single measure of how expensive CVX is relative to its own history. A percentile below 25 suggests the stock may be undervalued, while a percentile above 75 suggests it may be overvalued.
However, valuation is only one factor in investment decisions. A stock can remain "overvalued" for years if growth accelerates, or "undervalued" if the business deteriorates. Always combine valuation analysis with financial statement analysis and the full CVX analysis page for a complete picture.
Valuation data is computed from historical price and fundamental data via Polygon.io and Finnhub.CVX trades on NYSE/NASDAQ. This page is for informational purposes only and is not financial advice.