Operating Margin

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Price: 142.02 EUR 0.1% Market Closed

Market Cap: €180.4B

10.3%

Declining

by 3.1%

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

10.3%

Operating Income

$19.3B

Revenue

$187B

Operating Margin shows how much profit a company makes from its regular business activities after covering operating costs. It helps measure how efficiently the company turns sales into profit.

Operating Margin

10.3%

Operating Income

€19.3B

Revenue

$187B

Peer Comparison

Country		Company	Market Cap	Operating Margin
US		Chevron Corp NYSE:CVX	335.7B USD	Loading...
SA		Saudi Arabian Oil Co SAU:2222	6.7T SAR	Loading...
US		Exxon Mobil Corp NYSE:XOM	569.2B USD	Loading...
UK		Shell PLC LSE:SHEL	156.2B GBP	Loading...
NL	R	Royal Dutch Shell PLC OTC:RYDAF	211B USD	Loading...
FR		TotalEnergies SE PAR:TTE	125.6B EUR	Loading...
US		Conocophillips NYSE:COP	121.5B USD	Loading...
CN		China Petroleum & Chemical Corp SSE:600028	745.2B CNY	Loading...
UK		BP PLC LSE:BP	69.6B GBP	Loading...
BR		Petroleo Brasileiro SA Petrobras BOVESPA:PETR4	448.5B BRL	Loading...
NO		Equinor ASA OSE:EQNR	631.9B NOK	Loading...

Market Distribution

Min	-4 087 900%
30th Percentile	-5.1%
Median	6%
70th Percentile	14.8%
Max	1 032 600%

Other Profitability Ratios

Chevron Corp
Glance View

Economic Moat

Narrow

Market Cap

180.4B EUR

Industry

Energy

Amidst the sprawling landscape of the energy sector, Chevron Corporation stands as a towering figure, tracing its origins back to the 19th century. Born in California, Chevron emerged out of a merger between California Star Oil Works and Pacific Coast Oil Co. in 1879. Over the decades, it has evolved into a global energy titan, deeply integrated across the oil and gas value chain. Its operations are categorized primarily into upstream and downstream activities. In the upstream sector, Chevron engages in the exploration and production of crude oil and natural gas, operating significant assets in the Permian Basin and Kazakhstan's Tengiz Field, among many others. These explorations and extractions are driven by advanced technologies, allowing the company to tap into reserves in both conventional and unconventional sites, from mountain ranges to deep waters beneath the Earth's surface. In its downstream segment, Chevron refines crude oil into finished petroleum products. It manages a wide distribution network that brings fuels, lubricants, and petrochemicals to markets across virtually all continents. The company's refineries are strategically located around the globe, enabling it to effectively supply to diverse geographical areas, including North America, Asia, and Europe. Chevron also invests in petrochemical manufacturing and marketing via joint ventures such as Chevron Phillips Chemical, thus expanding its footprint beyond traditional oil and gas. Moreover, the company has been gradually shifting towards integrating more sustainable practices, with investments in lower-carbon technologies. Through this dual approach, Chevron adeptly navigates the volatile energy market, driving robust financial performances while setting the stage for a more diversified energy future.

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CHV Intrinsic Value

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What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

Chevron Corp
XHAM:CHV

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Market Distribution

Other Profitability Ratios

Chevron Corp
Glance View

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Chevron Corp XHAM:CHV