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Fairly valued
Morningstar Quantitative Rating as of 11 NOV 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 194.38 Fair value 215.45 One-star price 238.80
Morningstar Quantitative Rating as of 11 NOV 2026.
Morningstar Quantitative Rating as of 11 NOV 2026. The slider runs from the five-star price (194.38) to the one-star price (238.80).
| Ratios |
|---|
| Currency (Price/reporting): USD/USD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 211.22 |
| Price - 12 month high | 236.48 |
| Price - 12 month low | 146.50 |
| Pricing date | 10 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 8.55 |
| Market capitalization | 416,163.39 |
| 12 Month High price date | 30 OCT 2026 |
| 12 Month Low price date | 16 DEC 2025 |
| Volume - avg. trading volume for the last 3 months | 8.50 |
| Price - 1 Day % Change | 0.21% |
| Price - 13 week price percent change | 8.37% |
| Price - 26 week price percent change | 16.30% |
| Price - 5 Day % Change | -6.24% |
| Price - 52 week price percent change | 35.70% |
| Price - YTD price percent change | 38.68% |
| Price % Change Month To Date | -0.36% |
| EPS excluding extraordinary items - most recent fiscal year | 6.630 |
| EPS excluding extraordinary items - trailing 12 month | 13.620 |
| EPS Normalized - most recent fiscal year | 7.290 |
| Revenue/share - most recent fiscal year | 99.371 |
| Revenue/share - trailing 12 month | 113.978 |
| Book value per share - most recent fiscal year | 94.155 |
| Book value per share - most recent quarter | 99.591 |
| Book value (tangible) per share - most recent fiscal year | 94.740 |
| Book value (tangible) per share - most recent quarter | 100.145 |
| Cash per share - most recent fiscal year | 3.178 |
| Cash per share - most recent quarter | 6.562 |
| Cash Flow per share - most recent fiscal year | 19.174 |
| Cash Flow per share - trailing 12 month | 26.496 |
| Dividend per share - most recent fiscal year | 6.840 |
| Dividends per share - trailing 12 month | 7.050 |
| EBITD per share - trailing 12 month | 32.584 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 6.650 |
| EPS Basic excluding extraordinary items - trailing 12 month | 13.650 |
| EPS including extraordinary items - most recent fiscal year | 6.650 |
| EPS including extraordinary items - trailing 12 month | 13.680 |
| Free Cash Flow per share - trailing 12 month | 17.472 |
| P/E excluding extraordinary items, most recent fiscal year | 15.66 |
| P/E Normalized, most recent fiscal year | 14.97 |
| Price to sales - most recent fiscal year | 1.87 |
| Price to Tangible Book - most fiscal year | 2.19 |
| Price to Free Cash Flow per Share - most recent fiscal year | 12.21 |
| Price to Cash Flow per share - trailing 12 month | 8.05 |
| Price to Book - most recent fiscal year | 2.14 |
| P/E excluding extraordinary items high, trailing 12 months | 34.36 |
| P/E excluding extraordinary items low, trailing 12 months | 15.48 |
| Net Debt, LFI | 20,730.00 |
| Net Debt, LFY | 34,461.00 |
| Dividend Yield - 5 Year Average | 3.84% |
| Dividend Yield - indicated annual dividend divided by closing price | 3.34% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 3.31% |
| Free Cash Flow - most recent fiscal year | 18,240.00 |
| LT debt/equity - most recent fiscal year | 20.70% |
| Payout ratio - most recent fiscal year | 103.17% |
| Total debt/total equity - most recent fiscal year | 21.21% |
| LT debt/equity - most recent quarter | 16.40% |
| Total debt/total equity - most recent quarter | 16.77% |
| Free Cash Flow - trailing 12 month | 34,611.00 |
| Payout ratio - trailing 12 month | 51.65% |
| Revenue - most recent fiscal year | 184,432.00 |
| Revenue - trailing 12 month | 225,779.00 |
| EBITD - most recent fiscal year | 41,417.00 |
| EBITD - trailing 12 month | 64,545.00 |
| Earnings before taxes - most recent fiscal year | 19,743.00 |
| Earnings before taxes - trailing 12 month | 38,854.00 |
| Net Income available to common - most recent fiscal year | 12,299.00 |
| Net Income available to common - trailing 12 months | 26,976.00 |
| Earnings before taxes Normalized - most recent fiscal year | 20,328.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | 13,521.00 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 14.25 |
| Net Profit Margin % - 1st historical fiscal year | 6.77% |
| Net Profit Margin % - trailing 12 month | 12.14% |
| Operating margin - 1st historical fiscal year | 9.04% |
| Operating margin - trailing 12 month | 14.57% |
| Pretax margin - trailing 12 month | 17.21% |
| Pretax margin - 1st historical fiscal year | 10.70% |
| Operating Margin - 5 year average | 11.90% |
| Pretax Margin - 5 year average | 14.99% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 11.93% |
| Free Operating Cash Flow/Revenue, TTM | 15.33% |
| Net Profit Margin - 5 year average | 10.40% |
| Return on average assets - most recent fiscal year | 4.41% |
| Return on average assets - trailing 12 month | 8.33% |
| Return on average equity - most recent fiscal year | 7.57% |
| Return on average equity - trailing 12 month | 14.51% |
| Return on average assets - 5 year average | 8.33% |
| Return on average equity - 5 year average | 13.97% |
| Net Income/employee - most recent fiscal year | 290,085.74 |
| Revenue/employee - most recent fiscal year | 4,285,229.68 |
| Revenue growth rate, 5 year | 14.32% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | 6.39% |
| Revenue/share (5 yr growth) | 15.09% |
| Growth rate% - Revenue, 3 year | -7.85% |
| Growth rate% - EPS, 3 year | -28.69% |
| Book value per share growth rate, 5 year | 6.60% |
| Capital Spending growth rate, 5 year | 14.22% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 31.74% |
Financial forecast (USD, millions except per share)
| Actuals | Estimates | |||||||
| 2025 | 2026 | 2027 | 2028 | 2029 | ||||
| Estimate breakdown | ||||||||
Financials (USD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
Announcements are available for ASX-listed companies only.
US oil stocks have significantly outperformed their ASX peers, rallying over recent years while domestic names have struggled. Earlier this month, Chevron CEO Mike Wirth made it clear that he would not miss the Biden administration
CVX US has gone nowhere over the last two years after a strong run post-COVID, but while the stock does look good value at current levels, “fighting the tape” can be hard work, especially in today's market. Hess's huge purchase makes sense in the medium term, but the markets marked the stock lower since the announcement in October, as is often the case with the acquirer. Importantly, we believe the move enhances and extends production and fresh cash flow over the next decade.
We recently looked at US energy giant Exxon Mobil (XOM US) and this morning following further stellar gains by the ASX energy stocks we thought it was an opportune time to reiterate these thoughts by a brief glance at the $US398bn goliath Chevron Corp (CVX US). There seems to be no relief in sight for consumers as fuel prices rise, this week we’ve already...
MM likes CVX ~$US140
MM is neutral CVX ~$US150
MM is neutral at best toward Chevron Corp (CVX US)
MM is bullish Chevron Corp targeting fresh 2022 highs
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-equivalent production of 3.7 million barrels perday, including 8.5 billion cubic feet per day of natural gas and 2.3 million barrels of liquids per day. Production takes place in North America, South America, Europe, Africa, Asia, and Australia. The company's refining networks arelocated in the United States and Asia, with a total worldwide refining capacity of 1.8 million barrels of oil a day at year-end 2025. Net proved reserves at year-end 2025 stood at 10.6 billion barrels of oil equivalent, consisting of 5.7 billionbarrels of liquids and 29.2 trillion cubic feet of natural gas.
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