BP vs CVX: BP PLC ADR and Chevron compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Chevron is the larger company, worth $419.8B, about 3.5 times BP PLC ADR.
- Chevron grew revenue faster over the last year (+51.4% vs -1.1%).
- Chevron keeps more of each dollar of revenue as operating profit (11.5% vs 6.6%).
- On earnings, Chevron is the cheaper stock (36.8x vs 37.5x).
- Chevron's price assumes faster free cash flow growth: about 8% a year, against -3% for BP PLC ADR (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BP | CVX |
|---|---|---|
| Market cap | $119.7B | $419.8B |
| Share price | $46.25 | $205.15 |
| Revenue (last fiscal year) | $192.5B | $184.4B |
| Free cash flow (last fiscal year) | $11.3B | $16.6B |
| Revenue growth, last year | -1.1% | +51.4% |
| Revenue growth per year, last 5 fiscal years | +4.1% | +4.3% |
| Operating margin | 6.6% | 11.5% |
| Net margin | 0.03% | 9.9% |
| Return on equity | 0.09% | 10.8% |
| P/E (trailing) | 37.5x | 36.8x |
| Price / free cash flow | 10.6x | 25.3x |
| EV / EBITDA | 5.09x | 7.93x |
| FCF growth the price implies | -3.4% | 8.1% |
| Dividend yield | 4.3% | 3.4% |
| Debt / equity | 3.46x | 0.71x |
| Fundamental grade | D | C |
| Superinvestors holding it | 5 | 15 |
| Insider purchases, last 12 months | 0 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
BP PLC ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $164.2B | $12.7B | 11.0% |
| 2022 | $248.9B | $28.9B | 7.2% |
| 2023 | $213.0B | $17.8B | 12.8% |
| 2024 | $194.6B | $12.0B | 5.8% |
| 2025 | $192.5B | $11.3B | 6.6% |
Chevron
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $155.6B | $21.1B | 9.5% |
| 2022 | $235.7B | $37.6B | 16.6% |
| 2023 | $196.9B | $19.8B | 13.0% |
| 2024 | $193.4B | $15.0B | 9.4% |
| 2025 | $184.4B | $16.6B | 8.2% |
Where the revenue comes from
BP PLC ADR · by products, 2025
Oil products$114.2B72%
Natural gas, LNG and NGLs$27.5B17%
Non-oil products and other revenues from contracts with customers$15.1B10%
Crude oil$2.1B1%
Chevron · by segments, 2025
Reportable Segment, Aggregation before Other Operating Segment$184.3B100%
All Other$104M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BP in InvestinglyQuestions
Which is bigger, BP PLC ADR or Chevron?
Chevron (CVX), at $419.8B against $119.7B.
Is BP or CVX cheaper?
By trailing P/E, Chevron (36.8x) is cheaper than BP PLC ADR (37.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, BP or CVX?
Chevron: revenue grew +51.4% over the last year, against -1.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.