ChevronMIL:1CVX +1.42%50 Net Margin % is 4.65% as of Mar. 2026, which is 42% below its 10-year median of 7.98. GuruFocus rates MIL:1CVX with a GF Score™ of 50/100 and a GF Value™ of €132.39 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 916 Oil & Gas companies, Chevron ranks better than 59.61% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Chevron's Net Income for the
three
months ended in Mar. 2026 was €1,912 Mil. Chevron's Revenue for the
three
months ended in Mar. 2026 was €41,136 Mil. Therefore, Chevron's net margin for the quarter that ended in Mar. 2026 was 4.65%.
The historical rank and industry rank for Chevron's Net Margin % or its related term are showing as below:
MIL:1CVX'
s Net Margin % Range Over the Past 10 Years
Min: -5.87 Med: 7.98 Max: 15.05
Current: 5.92
MIL:1CVX's Net Margin % is ranked better than 59.61% of 916
companies
in the Oil & Gas industry
Industry Median: 3.435
vs MIL:1CVX: 5.92
Chevron (MIL:1CVX) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Chevron Net Margin % Related Terms
Chevron Net Margin % Historical Data
* Premium members only.
The historical data trend for Chevron's Net Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MIL:1CVX vs XOM, NFG, DEC: Net Margin % Comparison
For the Oil & Gas Integrated subindustry, Chevron's Net Margin %, along with its competitors' market caps and Net Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Chevron Net Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Chevron's Net Margin % distribution charts can be found below:
* The bar in red indicates where Chevron's Net Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Chevron (MIL:1CVX) has a Net Margin % of 4.65% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Chevron and its competitors. This is 42% below median its historical median of 7.98. According to the industry distribution chart, Chevron ranks #370 out of 916 companies in the Oil & Gas industry, placing it in the top 40.4%.
Is Chevron's Net Margin % too high?
Chevron's current Net Margin % of 4.65% is 42% below median its 10-year median of 7.98. The Oil & Gas industry median Net Margin % is 3.44. Chevron's value of 4.65% is 35.4% above this industry median. Based on the distribution chart, Chevron ranks #370 out of 916 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Chevron has a GF Score™ of 50/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Chevron's Net Margin % compare to XOM and NFG?
According to the Oil & Gas industry distribution chart, Chevron ranks #370 out of 916 companies for Net Margin %. This puts Chevron in the upper half of its industry. The industry median Net Margin % is 3.44. Chevron's value of 4.65% is 35.4% above this benchmark. While the company's 10-year median is 7.98 vs. the industry median of 3.44, Chevron has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for an Oil & Gas company?
The median Net Margin % among Oil & Gas companies is 3.44, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Chevron's current Net Margin % of 4.65% is 35.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Chevron and its competitors. For the Oil & Gas industry, the median Net Margin % is 3.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chevron's current Net Margin % is 4.65%, which is 42% below median its own 10-year median of 7.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chevron stock overvalued right now?
Based on GuruFocus' analysis, Chevron (MIL:1CVX) is currently considered Modestly Overvalued. The stock's GF Value™ is €132.39, compared to a current price of €154.50 — trading 16.7% above its estimated fair value. The current Net Margin % is 4.65%, which is 42% below median its 10-year median of 7.98 and 35.4% above the Oil & Gas industry median of 3.44. Chevron's overall GF Score™ is 50/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Chevron (MIL:1CVX), the current Net Margin % is 4.65% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Chevron (MIL:1CVX) Overvalued in 2026?
Based on GuruFocus' analysis, Chevron stock appears to be overvalued.
The current stock price of €154.50 is trading 16.7% above its estimated GF Value™ of €132.39.
GuruFocus considers Chevron to be Modestly Overvalued.
Key valuation signals for MIL:1CVX:
Net Margin %: 4.65% (42% below median its 10-year median of 7.98)
GF Value™: €132.39 vs. price of €154.50 (16.7% above fair value)
Industry Position: 35.4% above the Oil & Gas median (#370 of 916)
No single metric tells the full story. See the MIL:1CVX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 per day, 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 billion barrels of liquids and 29.2 trillion cubic feet of natural gas.
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