CVX EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
CVX's ev/ebitda is right around its 10-year median of 7.6.
EV/EBITDA History
CVX EV/EBITDA by year
Yearly range of CVX’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 4.5 to 30.7, averaging 9.5.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 6.4 | 9.1 | 11.2 | 7.9 |
| 2025 | 5.9 | 6.9 | 8.3 | 8.3 |
| 2024 | 6.0 | 6.9 | 7.6 | 6.0 |
| 2023 | 4.5 | 5.3 | 6.5 | 5.8 |
| 2022 | 4.6 | 6.5 | 9.0 | 5.7 |
| 2021 | 6.4 | 17.3 | 29.6 | 6.4 |
| 2020 | 5.1 | 14.9 | 30.7 | 19.2 |
| 2019 | 5.8 | 6.5 | 10.2 | 10.2 |
| 2018 | 5.8 | 8.5 | 10.5 | 5.8 |
| 2017 | 9.1 | 11.0 | 14.6 | 9.9 |
| 2016 | 12.2 | 14.5 | 16.2 | 16.0 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is CVX EV/EBITDA High or Low Right Now?
Chevron Corporation's EV/EBITDA is currently 7.9, which is around average relative to its 10-year historical range. The 10-year median EV/EBITDA for CVX is approximately 7.6. See all CVX valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.