BP PLC vs Chevron Corp, two Oil & Gas Refining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither major's production growth prints here, but the balance sheets tell the same story from opposite ends: both run near-zero net debt, and both are priced for the oil cycle rather than expansion. Chevron trades at 29.8 times depressed earnings on a 5.8% net margin, its integrated model absorbing a weak-margin year; BP's trailing multiple is unusable under impairments, though it yields 24.1% in free cash to Chevron's 4.1%. Chevron pays the visible 4% dividend, one of the majors' most defended; BP's payout is undisplayed here. The pair prices two supermajors through a soft patch, Chevron on its dividend aristocracy, BP on the cash its restructured book still generates. Both are cycle bets wearing utility costumes.
Comparison updated 2026-07-11.
| Metric | BP | CVX |
|---|---|---|
| Price | $37.12 | $170.89 |
| Market cap | $101.5B | $339.4B |
| Sector | Oil & Gas Refining | Oil & Gas Refining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | +7.3% |
| P/E | — | 29.8 |
| P/B | 1.37 | 1.79 |
| P/S | 0.53 | 1.79 |
| EV/EBITDA | 2.1 | 15.8 |
| Revenue growth | +6.9% | -5.6% |
| Operating margin | 6.6% | — |
| Net margin | 0.7% | 5.8% |
| Return on equity | 1.8% | 5.8% |
| Return on assets | 0.5% | 3.3% |
| Return on invested capital | 13.5% | — |
| FCF yield | 24.1% | 4.1% |
| Dividend yield | — | 4.0% |
| Debt / equity | 0.00 | 0.03 |
| Current ratio | 1.26 | 1.09 |
| Altman Z (solvency) | 1.23 | 2.91 |
| Piotroski F (quality) | 8 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.