Chevron Corp (CVX)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 27,506,000 | 24,937,000 | 27,186,000 | 27,987,000 | 29,584,000 | 35,902,000 | 41,973,000 | 50,139,000 | 49,674,000 | 46,851,000 | 40,097,000 | 28,516,000 | 21,639,000 | 13,697,000 | 5,598,000 | -9,421,000 | -7,453,000 | -14,901,000 | -10,808,000 | 5,724,000 |
| Revenue (ttm) | US$ in thousands | 197,306,000 | 194,013,000 | 197,009,000 | 194,651,000 | 196,913,000 | 202,503,000 | 214,089,000 | 232,245,000 | 235,717,000 | 227,055,000 | 206,099,000 | 176,844,000 | 155,606,000 | 134,588,000 | 116,033,000 | 95,842,000 | 94,471,000 | 104,202,000 | 114,984,000 | 135,381,000 |
| Pretax margin | 13.94% | 12.85% | 13.80% | 14.38% | 15.02% | 17.73% | 19.61% | 21.59% | 21.07% | 20.63% | 19.46% | 16.12% | 13.91% | 10.18% | 4.82% | -9.83% | -7.89% | -14.30% | -9.40% | 4.23% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $27,506,000K ÷ $197,306,000K
= 13.94%
Chevron Corp's pretax margin experienced fluctuations over the analyzed period. The pretax margin was negative in the mid of 2020, indicating that the company's operating expenses exceeded its gross profits during that time. However, there was a significant turnaround by the end of 2020 and into 2021, with the pretax margin gradually improving and turning positive.
From March 2021 to June 2023, Chevron Corp witnessed a steady increase in pretax margin, reaching its peak of 21.59% in March 2023. This indicates that the company was able to effectively control its operating expenses while generating healthy profits before taxes.
Subsequently, there was a slight decline in the pretax margin towards the end of 2023 and into 2024, but it remained relatively stable above 12%. Overall, the trend in pretax margin reflects Chevron Corp's ability to manage costs and generate profits before tax over the analyzed period.
Peer comparison
Dec 31, 2024