ChevronXSWX:CVX 62 Pretax Margin % is 8.30% as of Mar. 2026, which is 30% below its 10-year median of 11.83. 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 916 Oil & Gas companies, Chevron ranks better than 62.77% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Chevron's Pre-Tax Income for the
three
months ended in Mar. 2026 was CHF3,107 Mil. Chevron's Revenue for the
three
months ended in Mar. 2026 was CHF37,441 Mil. Therefore, Chevron's pretax margin for the quarter that ended in Mar. 2026 was 8.30%.
The historical rank and industry rank for Chevron's Pretax Margin % or its related term are showing as below:
XSWX:CVX'
s Pretax Margin % Range Over the Past 10 Years
Min: -7.89 Med: 11.83 Max: 21.07
Current: 9.74
XSWX:CVX's Pretax Margin % is ranked better than 62.77% of 916
companies
in the Oil & Gas industry
Industry Median: 5.165
vs XSWX:CVX: 9.74
Chevron (XSWX:CVX) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Chevron Pretax Margin % Related Terms
Chevron Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Chevron's Pretax 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.
XSWX:CVX vs XOM, NFG, DEC: Pretax Margin % Comparison
For the Oil & Gas Integrated subindustry, Chevron's Pretax Margin %, along with its competitors' market caps and Pretax 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 Pretax Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Chevron's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Chevron's Pretax 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 (XSWX:CVX) has a Pretax Margin % of 8.30% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Chevron and its competitors. This is 30% below median its historical median of 11.83. According to the industry distribution chart, Chevron ranks #341 out of 916 companies in the Oil & Gas industry, placing it in the top 37.2%.
Is Chevron's Pretax Margin % too high?
Chevron's current Pretax Margin % of 8.30% is 30% below median its 10-year median of 11.83. The Oil & Gas industry median Pretax Margin % is 5.17. Chevron's value of 8.30% is 60.7% above this industry median. Based on the distribution chart, Chevron ranks #341 out of 916 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Chevron has a GF Score™ of 62/100, reflecting its overall financial health beyond just this single metric.
How does Chevron's Pretax Margin % compare to XOM and NFG?
According to the Oil & Gas industry distribution chart, Chevron ranks #341 out of 916 companies for Pretax Margin %. This puts Chevron in the upper half of its industry. The industry median Pretax Margin % is 5.17. Chevron's value of 8.30% is 60.7% above this benchmark. While the company's 10-year median is 11.83 vs. the industry median of 5.17, 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 Pretax Margin % for an Oil & Gas company?
The median Pretax Margin % among Oil & Gas companies is 5.17, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Chevron's current Pretax Margin % of 8.30% is 60.7% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Chevron and its competitors. For the Oil & Gas industry, the median Pretax Margin % is 5.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chevron's current Pretax Margin % is 8.30%, which is 30% below median its own 10-year median of 11.83. 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 Pretax Margin % of 8.30%. The stock's GF Value™ is CHF121.40, compared to a current price of CHF139.92 — trading 15.3% above its estimated fair value. The current Pretax Margin % is 8.30%, which is 30% below median its 10-year median of 11.83 and 60.7% above the Oil & Gas industry median of 5.17. 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 Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Chevron (XSWX:CVX), the current Pretax Margin % is 8.30% 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 CHF139.92 is trading 15.3% above its estimated GF Value™ of CHF121.40.
Key valuation signals for XSWX:CVX:
Pretax Margin %: 8.30% (30% below median its 10-year median of 11.83)
GF Value™: CHF121.40 vs. price of CHF139.92 (15.3% above fair value)
Industry Position: 60.7% above the Oil & Gas median (#341 of 916)
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 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
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