As of Aug 14, 2026, the Chevron stock's PE ratio is 19.16. This takes into account the latest EPS of $10.44 and stock price of $200. The PE ratio marks a decrease of 21% from its last 4 quarters average of 24.1.
CVX PE ratio history
The PE ratio of Chevron has averaged 22.58 over the last ten years. The current P/E ratio of 19.16 is 15% lower than the historical average. Looking back at the last ten years, CVX's PE ratio peaked in the Dec 2019 quarter at 77.75, when the price was $120.51 and the EPS was $1.55. The lowest point was in the Sep 2022 quarter, when it reached 8.14 with a price of $143.67 and an EPS of $17.65.
Chevron PE ratio by year
Maximum annual increase: 458.15% in 2019
Maximum annual decrease: -45.69% in 2018
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 22.92 | 54.45% | $152.41 | $6.65 |
| 2024 | 14.84 | 13.54% | $144.84 | $9.76 |
| 2023 | 13.07 | 33.64% | $149.16 | $11.41 |
| 2022 | 9.78 | -32.08% | $179.49 | $18.36 |
| 2021 | 14.4 | N/A | $117.35 | $8.15 |
| 2020 | N/A | N/A | $84.45 | -$2.96 |
| 2019 | 77.75 | 458.15% | $120.51 | $1.55 |
| 2018 | 13.93 | -45.69% | $108.79 | $7.81 |
| 2017 | 25.65 | N/A | $125.19 | $4.88 |
| 2016 | N/A | N/A | $117.7 | -$0.27 |
| 2015 | 36.57 | 232.76% | $89.96 | $2.46 |
| 2014 | 10.99 | -1.61% | $112.18 | $10.21 |
| 2013 | 11.17 | 38.59% | $124.91 | $11.18 |
| 2012 | 8.06 | 2.54% | $108.14 | $13.42 |
| 2011 | 7.86 | -17.95% | $106.4 | $13.54 |
Chevron PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Jun 2026 | 15.88 | -55.79% | $165.76 | $10.44 |
| Mar 2026 | 35.92 | 56.72% | $206.9 | $5.76 |
| Dec 2025 | 22.92 | 5.38% | $152.41 | $6.65 |
| Sep 2025 | 21.75 | 18.46% | $155.29 | $7.14 |
| Jun 2025 | 18.36 | -3.62% | $143.19 | $7.8 |
| Mar 2025 | 19.05 | 28.37% | $167.29 | $8.78 |
| Dec 2024 | 14.84 | -7.88% | $144.84 | $9.76 |
| Sep 2024 | 16.11 | 4.34% | $147.27 | $9.14 |
| Jun 2024 | 15.44 | 6.85% | $156.42 | $10.13 |
| Mar 2024 | 14.45 | 10.56% | $157.74 | $10.92 |
| Dec 2023 | 13.07 | 4.81% | $149.16 | $11.41 |
| Sep 2023 | 12.47 | 25.58% | $168.62 | $13.52 |
| Jun 2023 | 9.93 | 13.23% | $157.35 | $15.85 |
| Mar 2023 | 8.77 | -10.33% | $163.16 | $18.61 |
| Dec 2022 | 9.78 | 20.15% | $179.49 | $18.36 |
CVX Price vs fair value
CVX average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, CVX's PE ratio is higher than its 3 and 5-year averages, but it is lower than its 10-year average.
PE comparison
Chevron's price to earnings (P/E) of 19.16 is higher than the Energy sector, the industry and its peers average. In comparison with the Energy sector average of 16.41, Chevron's price to earnings (P/E) is 17% higher.
CVX PE vs peers
Frequently asked questions
What is Chevron's PE ratio?
As of Aug 14, 2026, CVX stock has a price to earnings ratio of 19.16.
What is the 3-year average PE ratio for Chevron (CVX)?
The average PE ratio for CVX stock over the past 3 years is 18.36.
What is the 5-year average PE ratio for Chevron (CVX)?
The average PE ratio for CVX stock over the past 5 years is 15.79.
What is the highest PE ratio for CVX?
Over the last ten years, the quarterly PE ratio reached its highest level at 77.75 in the Dec 2019 quarter.
How does the current PE ratio for CVX compare to its historical average?
CVX's price to earnings ratio is currently 15% below its 10-year historical average.
How is CVX's PE ratio calculated (Chevron PE ratio formula)?
To determine the P/E ratio, divide the latest stock price by the TTM earnings per share (EPS). As of today (Aug 14, 2026), Chevron's share price is $200. The company's earnings per share for the trailing twelve months (TTM) ending Jun 2026 is $10.44. Therefore, Chevron's PE ratio for today is 19.16. PE RATIO(19.16) = STOCK PRICE($200) / TTM EPS($10.44)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.