Chevron (CVX) 10-K Summary — Year Ended Dec 31, 2024
Chevron Corporation manages its investments in subsidiaries and provides support to integrated energy and chemicals operations globally. The filing reports a decline in revenue compared to the prior year, with net income and operating cash flow disclosed.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
Chevron Corporation manages its investments in subsidiaries and provides support to integrated energy and chemicals operations globally. The filing reports a decline in revenue compared to the prior year, with net income and operating cash flow disclosed.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$193.4B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$17.7B
Net income reported for the year.
Operating cash flow
$31.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $155.6B | n/a |
| Dec 31, 2022 | $235.7B | +51.5% |
| Dec 31, 2023 | $196.9B | -16.5% |
| Dec 31, 2024 | $193.4B | -1.8% |
Business overview
Chevron engages in upstream operations including exploration, production, and transportation of crude oil and natural gas, as well as liquefied natural gas and carbon capture. Downstream operations involve refining crude oil, marketing petroleum products, renewable fuels, and petrochemicals. The company also provides administrative, financial, and technology support to its subsidiaries.
Financial performance
Revenue for the period was lower than the prior year, following a significant increase in an earlier period. Net income and operating cash flow were reported, though comparative figures for those metrics were not provided in the supplied context.
Material risks
The filing includes a Risk Factors heading, but the supplied context does not elaborate on any specific risks. No material risk descriptions were provided in the excerpted text.
Liquidity and capital
The filing references an authorized stock repurchase program, indicating a capital allocation focus on returning value to shareholders.
What to watch
The next filing should be monitored for updates on revenue trends and the execution of the stock repurchase program.