CVX Q4 2025 Earnings — Income Statement Breakdown
For its Q4 2025 period (ending 2025-12-31), CVX reported revenue of $45.8B, gross profit of $14.6B (31.8% gross margin), operating income of $4.0B, and net income of $2.8B (6.0% net margin). The flow of revenue into costs and profit is visualized below.
What changed
CVX was profitable; revenue fell 5.3% year over year, and EPS beat consensus by $0.08.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | −5.3% | −15.5% | Not available |
| Quarter over quarter | −4.9% | −21.7% | Not available |
EPS was $1.52 versus $1.44 expected.
CVX Q4 2025 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $45.8B | 100% |
| Cost of Revenue | −$31.2B | 68.2% |
| Gross Profit | $14.6B | 31.8% |
| Research & Development | — | 0.0% |
| Selling, General & Administrative | −$1.5B | 3.3% |
| Other Operating Expenses | −$9.0B | 19.7% |
| Operating Income | $4.0B | 8.8% |
| Interest Expense | −$361M | 0.8% |
| Other Income, net | $576M | 1.3% |
| Income Tax Expense | −$1.8B | 3.8% |
| Net Income | $2.8B | 6.0% |
Source: original SEC filing (filed 2026-01-30). Accession 0000093410-26-000019. Data normalized by EarningsFyi.