Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

$24.99

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

Chevron Corp., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Chevron Corp. Annual Report.


The analysis of the annual financial data reveals several notable trends and patterns regarding the share price, book value per share (BVPS), and the price-to-book value (P/BV) ratio over the examined period.

Share Price
The share price exhibits a generally upward trajectory from 2006 to 2025, increasing from $57.24 to $156.92. There are fluctuations within this trend, including a peak around 2008 at $89.02 followed by a dip in 2009 to $63.17, likely reflecting market or sector volatility. After 2009, the share price consistently rises with some variations, reaching its highest value of $161.93 in 2023 before slightly declining in the subsequent years.
Book Value Per Share (BVPS)
BVPS shows a consistent growth trend throughout the period, increasing from $28.15 in 2006 to $86.51 in 2025. Although there is minor volatility, such as a slight decline between 2014 and 2017 and another dip from 2019 to 2021, the overall pattern suggests steady growth in the company's net asset value per share over time.
Price-to-Book Value (P/BV) Ratio
The P/BV ratio demonstrates more variability compared to share price and BVPS. Initially, it rises from 2.03 in 2006 to a peak of 2.4 in 2008, followed by a significant decline to 1.46 in 2009. Post-2009, the ratio fluctuates mostly between 1.05 and 1.94, with no clear long-term upward or downward trend. This suggests periods where the share price either fairly values the book value or is slightly undervalued or overvalued relative to the book value. The ratio’s variability indicates changing market perceptions regarding the company's value beyond its net assets during different times.

In summary, the financial data depict a company with steadily increasing book value per share and a generally appreciating share price, albeit with cyclical fluctuations potentially influenced by market conditions or company performance perceptions. The variability of the P/BV ratio suggests fluctuations in investor confidence or external market factors affecting the valuation relative to the company's book value.


Comparison to Competitors


Comparison to Sector (Oil, Gas & Consumable Fuels)


Comparison to Industry (Energy)