Chevron (XSWX:CVX) Dividend Payout Ratio: 1.26 (As of Mar. 2026) — 94% Above Median


XSWX:CVX Chevron Corp XSWX:CVX
62 GF Score
Price CHF138.91
GF Value CHF121.40
! 5 Warning Signs
View Full Analysis

What is Chevron Dividend Payout Ratio?

Chevron XSWX:CVX -0.72% 62 Dividend Payout Ratio is 1.26 as of Mar. 2026, which is 94% above its 10-year median of 0.65. GuruFocus rates XSWX:CVX with a GF Score™ of 62/100 and a GF Value™ of CHF121.40. The stock has 5 warning signs investors should review. Among 433 Oil & Gas companies, Chevron ranks worse than 81.06% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Chevron's Dividend Payout Ratio for the months ended in Mar. 2026 was 1.26.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Chevron Corp is 1.05, which seems too high.

The historical rank and industry rank for Chevron's Dividend Payout Ratio or its related term are showing as below:

XSWX:CVX' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.27   Med: 0.65   Max: 0.94
Current: 0.27

During the past 13 years, the highest Dividend Payout Ratio of Chevron was 0.94. The lowest was 0.27. And the median was 0.65.

XSWX:CVX's Dividend Payout Ratio is ranked worse than
81.06% of 433 companies
in the Oil & Gas industry
Industry Median: 0.5 vs XSWX:CVX: 0.27

As of today (2026-06-26), the Dividend Yield % of Chevron is 2.01%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Chevron was 8.01%. The lowest was 1.98%. And the median was 3.97%.

Chevron's Dividends per Share for the months ended in Mar. 2026 was CHF1.40.

During the past 12 months, Chevron's average Dividends Per Share Growth Rate was 4.70% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 6.40% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 6.10% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 5.20% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Chevron was 13.90% per year. The lowest was 0.90% per year. And the median was 6.10% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Chevron (XSWX:CVX) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Chevron Dividend Payout Ratio Related Terms

Chevron Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Chevron's Dividend Payout Ratio 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.

Chevron Dividend Payout Ratio Chart

Chevron Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.16 0.00 0.00 0.00 0.00

Chevron Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 1.26

XSWX:CVX vs XOM, NFG, DEC: Dividend Payout Ratio Comparison

For the Oil & Gas Integrated subindustry, Chevron's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio 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 Dividend Payout Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Chevron's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Chevron's Dividend Payout Ratio falls into.


XSWX:CVX
62GF Score
Chevron Corp XSWX:CVX
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Chevron Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Chevron's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Dec. 2025 )/ EPS without NRI (A: Dec. 2025 )
=0/ 5.809
=0.00

Chevron's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Mar. 2026 )/ EPS without NRI (Q: Mar. 2026 )
=1.401/ 1.11
=1.26

* 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.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 1.26 mean?
Chevron (XSWX:CVX) has a Dividend Payout Ratio of 1.26 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Chevron and its competitors. This is 94% above median its historical median of 0.65. Over the past decade, Chevron's Dividend Payout Ratio has ranged from 0.27 to 0.94. According to the industry distribution chart, Chevron ranks #351 out of 433 companies in the Oil & Gas industry, placing it in the top 81.1%.
Is Chevron's Dividend Payout Ratio too high?
Chevron's current Dividend Payout Ratio of 1.26 is 94% above median its 10-year median of 0.65. Over the past 10 years, this metric has ranged from a low of 0.27 to a high of 0.94. The Oil & Gas industry median Dividend Payout Ratio is 0.50. Chevron's value of 1.26 is 152% above this industry median. Based on the distribution chart, Chevron ranks #351 out of 433 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Chevron has a GF Score™ of 62/100, reflecting its overall financial health beyond just this single metric.
How does Chevron's Dividend Payout Ratio compare to XOM and NFG?
According to the Oil & Gas industry distribution chart, Chevron ranks #351 out of 433 companies for Dividend Payout Ratio. This places Chevron in the lower half of its industry. The industry median Dividend Payout Ratio is 0.50. Chevron's value of 1.26 is 152% above this benchmark. Historically, Chevron's own Dividend Payout Ratio has ranged from 0.27 to 0.94 over the past decade. While the company's 10-year median is 0.65 vs. the industry median of 0.50, 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 Dividend Payout Ratio for an Oil & Gas company?
The median Dividend Payout Ratio among Oil & Gas companies is 0.50, based on 433 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Chevron's current Dividend Payout Ratio of 1.26 is 152% 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 Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Chevron and its competitors. For the Oil & Gas industry, the median Dividend Payout Ratio is 0.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chevron's current Dividend Payout Ratio is 1.26, which is 94% above median its own 10-year median of 0.65. 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?
Chevron (XSWX:CVX) has a current Dividend Payout Ratio of 1.26. The stock's GF Value™ is CHF121.40, compared to a current price of CHF138.91 — trading 14.4% above its estimated fair value. The current Dividend Payout Ratio is 1.26, which is 94% above median its 10-year median of 0.65 and 152% above the Oil & Gas industry median of 0.50. Chevron's overall GF Score™ is 62/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Chevron (XSWX:CVX), the current Dividend Payout Ratio is 1.26 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 (XSWX:CVX) Overvalued in 2026?

Based on GuruFocus' analysis, Chevron stock appears to be overvalued. The current stock price of CHF138.91 is trading 14.4% above its estimated GF Value™ of CHF121.40.

Key valuation signals for XSWX:CVX:

  • Dividend Payout Ratio: 1.26 (94% above median its 10-year median of 0.65)
  • GF Value™: CHF121.40 vs. price of CHF138.91 (14.4% above fair value)
  • GF Score™: 62/100 with 5 warning signs
  • Industry Position: 152% above the Oil & Gas median (#351 of 433)

No single metric tells the full story. See the XSWX:CVX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Chevron Business Description

Industry EnergyOil & Gas
Address 1400 Smith Street, Houston, TX, USA, 77002-7327
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.
62GF Score

Get the complete analysis for XSWX:CVX

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

CHF138.91
Price
CHF121.40
GF Value