Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

$24.99

Price to Sales (P/S)
since 2005

Microsoft Excel

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Calculation

Chevron Corp., P/S, 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.


Share Price Trend
The share price showed a general upward trajectory over the analyzed period, starting at $57.24 in March 2006 and reaching $156.92 by February 2025. Despite some fluctuations, notable peaks occurred around 2013 at $115.96, 2022 at $134.85, and a significant increase toward 2023 and 2024, peaking at $161.93 in 2023 before slightly declining. A decline was evident during 2009 and 2016, correlating with broader market conditions. The overall growth indicates a strengthening market valuation.
Sales Per Share
Sales per share fluctuated over the years, beginning at $86.98 in 2006, peaking notably at $132.18 in 2009 before a steep decline in 2011 and the years following, dipping to its lowest at $49.04 in 2021. After this low, a recovery pattern emerged with sales per share rising sharply to $123.63 in 2023, before experiencing a slight decrease again towards 2025. This volatility suggests varying revenue performance likely influenced by external market or operational factors.
Price to Sales (P/S) Ratio
The P/S ratio showed diverse movements throughout the period, initially rising from 0.66 in 2006 to a high of 2.09 in 2021. A significant spike occurred during 2016 to 2017, reaching 1.91, indicating an increase in valuation relative to sales despite declining sales per share. Post-2021, the ratio decreased to values around 1.31 to 1.46, reflecting a normalization of valuation metrics as sales per share recovered. This ratio indicates investor sentiment and perceived growth potential relative to actual sales.
Relationship and Insights Between Metrics
The share price increases do not consistently align with increases in sales per share, notably in 2016, where the share price decreased moderately while the P/S ratio peaked, suggesting investor expectations or external factors affecting valuation independently of sales performance. The sales per share volatility reveals sensitivity to market or sector-specific conditions, while the P/S ratio fluctuations highlight changing investor perceptions over time. The recent stabilization of P/S ratios alongside recovering sales per share points toward a more balanced market valuation in the latest years.

Comparison to Competitors


Comparison to Sector (Oil, Gas & Consumable Fuels)


Comparison to Industry (Energy)