Chevron Corp
NYSE: CVX · ENERGY · OIL & GAS INTEGRATED
Updated 2026-06-12
Chevron Corp (CVX) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for CVX.
Valued
Valuation reasonably reflects current fundamentals. Limited margin of safety at these levels.
CVX historical valuation range
Where current P/E sits in CVX's own 5Y range.
CVX intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Standard discounted cash flow models produce unreliable output for unprofitable or near-breakeven companies. Revenue-based multiples such as P/S and EV/Sales, combined with the historical valuation position above, give a more reliable read for this stock.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
CVX valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 32.67x
P/S Ratio — History
Current: 2.01x
Is CVX overvalued in 2026?
Chevron Corp (CVX) currently trades at $187.22 per share with a market capitalization of $373,524,169,000.00. Based on our multi-factor framework, the stock trades at a fair valuation with a Smart Value Score of 51/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 32.7x, above its 5-year median of 23.7x. The PEG ratio of 0.81 suggests earnings growth is outpacing the multiple, a classic sign of undervaluation.
Looking at its own history, CVX is currently trading more expensive than 95% of the last 5Y on P/E. This places it in the 95th percentile of its historical range, a zone where forward returns have typically been muted.
A standard DCF model does not produce reliable output for CVX under current conditions. For unprofitable or near-breakeven companies, revenue-based multiples such as EV/Sales and historical P/S percentile are more informative than intrinsic value calculations.
Financial quality is a concern. The Piotroski F-Score of 3/9 flags weakening fundamentals that deserve closer scrutiny before the valuation case can be fully trusted.
Bottom line: CVX trades at a fair valuation on our framework, with a Smart Value Score of 51/100. The valuation is defensible but offers no obvious bargain. Patience or a better entry price may reward disciplined buyers.
Frequently asked questions
Is CVX overvalued?
CVX scores 51/100 on our Smart Value Score (Grade C), a mixed overall profile. A standard DCF is unreliable here given the profitability profile, so valuation leans on revenue-based measures like EV/Sales and the P/S percentile below.
What is CVX's fair value?
A standard DCF is unreliable for CVX given its current profitability profile. Revenue-based approaches like EV/Sales or the historical P/S percentile are more informative for this stock.
What P/E ratio does CVX trade at?
CVX trades at a P/E of 32.7x on trailing twelve-month earnings, against a 5-year median of 23.7x. P/E is what you pay per dollar of profit, and sitting above its own median means the stock is pricier than usual relative to its earnings.
Is CVX a buy based on valuation?
Our Smart Value rating for CVX is Hold, from a Smart Value Score of 51/100 that blends growth, quality, and valuation. The profile is balanced and best suited to investors who already have a thesis. This is research to inform your decision, not personalized financial advice.
How does CVX's valuation compare to its history?
On P/E, CVX sits in the 95th percentile of its own 5Y range, historically expensive relative to where it has traded. A high percentile means today's multiple is near the top of its historical band.
What is CVX's Smart Value Score?
CVX's Smart Value Score is 51/100. It is a proprietary WallStSmart metric blending growth quality, financial health, and valuation into a single 0-100 read, and scores above 75 are rare, signaling strong multi-factor alignment.