Comprehensive Stock Comparison
Compare Chevron Corporation (CVX) vs Petróleo Brasileiro S.A. - Petrobras (PBR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
Selected Stocks
Add up to 10 tickers. Use presets or search to get started.
Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CVX | -1.8% revenue growth vs PBR's -13.4% |
| Value | PBR | Lower P/E (7.2x vs 27.8x), PEG 0.17 vs 0.62 |
| Quality / Margins | PBR | 16.2% net margin vs CVX's 6.6% |
| Stability / Safety | PBR | Beta 0.65 vs CVX's 0.66 |
| Dividends | PBR | 34.2% yield, vs CVX's 3.5% |
| Momentum (1Y) | PBR | +32.8% vs CVX's +22.1% |
| Efficiency (ROA) | PBR | 6.1% ROA vs CVX's 3.8%, ROIC 15.7% vs 12.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Chevron is a global integrated energy company that explores for, produces, and refines oil and natural gas. It makes money primarily through upstream oil and gas production (~60% of earnings) and downstream refining and marketing of petroleum products (~40%). Its competitive advantage lies in massive scale, vertically integrated operations, and decades of technical expertise in complex energy projects.
Petrobras is Brazil's state-controlled integrated oil and gas company that explores for, produces, refines, and distributes petroleum products. It generates revenue primarily from upstream oil and gas production (roughly 60% of operating income) and downstream refining and marketing operations (about 30%), with the remainder from gas and power distribution. The company's key advantage is its dominant position in Brazil's deepwater pre-salt oil fields—among the world's most productive and lowest-cost reserves—combined with its integrated infrastructure network across the country.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
PBR leads in 3 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 3 categories are tied.
Financial Metrics (TTM)
CVX is the larger business by revenue, generating $185.9B annually — 2.2x PBR's $86.4B. PBR is the more profitable business, keeping 16.2% of every revenue dollar as net income compared to CVX's 6.6%. On growth, PBR holds the edge at +0.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CVXChevron Corporati… | PBRPetróleo Brasilei… |
|---|---|---|
| RevenueTrailing 12 months | $185.9B | $86.4B |
| EBITDAEarnings before interest/tax | $30.4B | $35.9B |
| Net IncomeAfter-tax profit | $12.3B | $14.0B |
| Free Cash FlowCash after capex | $16.2B | $16.7B |
| Gross MarginGross profit ÷ Revenue | +14.7% | +48.1% |
| Operating MarginEBIT ÷ Revenue | +5.5% | +25.3% |
| Net MarginNet income ÷ Revenue | +6.6% | +16.2% |
| FCF MarginFCF ÷ Revenue | +8.7% | +19.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | -5.3% | +0.5% |
| EPS Growth (YoY)Latest quarter vs prior year | -23.6% | +2.2% |
Valuation Metrics
At 7.1x trailing earnings, PBR trades at a 63% valuation discount to CVX's 19.2x P/E. Adjusting for growth (PEG ratio), PBR offers better value at 0.17x vs CVX's 0.43x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | CVXChevron Corporati… | PBRPetróleo Brasilei… |
|---|---|---|
| Market CapShares × price | $369.8B | $61.9B |
| Enterprise ValueMkt cap + debt − cash | $387.5B | $118.9B |
| Trailing P/EPrice ÷ TTM EPS | 19.21x | 7.11x |
| Forward P/EPrice ÷ next-FY EPS est. | 27.77x | 7.23x |
| PEG RatioP/E ÷ EPS growth rate | 0.43x | 0.17x |
| EV / EBITDAEnterprise value multiple | 8.28x | 3.12x |
| Price / SalesMarket cap ÷ Revenue | 1.91x | 0.68x |
| Price / BookPrice ÷ Book value/share | 2.22x | 0.90x |
| Price / FCFMarket cap ÷ FCF | 24.58x | 2.65x |
Profitability & Efficiency
PBR delivers a 17.5% return on equity — every $100 of shareholder capital generates $17 in annual profit, vs $7 for CVX. CVX carries lower financial leverage with a 0.16x debt-to-equity ratio, signaling a more conservative balance sheet compared to PBR's 1.02x.
| Metric | CVXChevron Corporati… | PBRPetróleo Brasilei… |
|---|---|---|
| ROE (TTM)Return on equity | +6.6% | +17.5% |
| ROA (TTM)Return on assets | +3.8% | +6.1% |
| ROICReturn on invested capital | +12.6% | +15.7% |
| ROCEReturn on capital employed | +13.0% | +15.4% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 0.16x | 1.02x |
| Net DebtTotal debt minus cash | $17.8B | $57.0B |
| Cash & Equiv.Liquid assets | $6.8B | $3.3B |
| Total DebtShort + long-term debt | $24.5B | $60.3B |
| Interest CoverageEBIT ÷ Interest expense | 17.22x | 7.96x |
Total Returns (with DRIP)
A $10,000 investment in PBR five years ago would be worth $40,394 today (with dividends reinvested), compared to $21,326 for CVX. Over the past 12 months, PBR leads with a +32.8% total return vs CVX's +22.1%. The 3-year compound annual growth rate (CAGR) favors PBR at 28.0% vs CVX's 8.7% — a key indicator of consistent wealth creation.
| Metric | CVXChevron Corporati… | PBRPetróleo Brasilei… |
|---|---|---|
| YTD ReturnYear-to-date | +20.9% | +39.5% |
| 1-Year ReturnPast 12 months | +22.1% | +32.8% |
| 3-Year ReturnCumulative with dividends | +28.4% | +109.6% |
| 5-Year ReturnCumulative with dividends | +113.3% | +303.9% |
| 10-Year ReturnCumulative with dividends | +188.7% | +789.5% |
| CAGR (3Y)Annualised 3-year return | +8.7% | +28.0% |
Risk & Volatility
PBR is the less volatile stock with a 0.65 beta — it tends to amplify market swings less than CVX's 0.66 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | CVXChevron Corporati… | PBRPetróleo Brasilei… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.66x | 0.65x |
| 52-Week HighHighest price in past year | $187.90 | $16.92 |
| 52-Week LowLowest price in past year | $132.04 | $11.03 |
| % of 52W HighCurrent price vs 52-week peak | +99.4% | +98.3% |
| RSI (14)Momentum oscillator 0–100 | 64.7 | 72.7 |
| Avg Volume (50D)Average daily shares traded | 9.5M | 20.2M |
Analyst Outlook
Wall Street rates CVX as "Buy" and PBR as "Buy". Consensus price targets imply -1.2% upside for CVX (target: $185) vs -6.6% for PBR (target: $16). For income investors, PBR offers the higher dividend yield at 34.20% vs CVX's 3.48%.
| Metric | CVXChevron Corporati… | PBRPetróleo Brasilei… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $184.54 | $15.53 |
| # AnalystsCovering analysts | 51 | 22 |
| Dividend YieldAnnual dividend ÷ price | +3.5% | +34.2% |
| Dividend StreakConsecutive years of raises | 7 | 0 |
| Dividend / ShareAnnual DPS | $6.49 | $5.69 |
| Buyback YieldShare repurchases ÷ mkt cap | +4.2% | +0.6% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Chevron Corporation (CVX) | 100 | 180.17 | +80.2% |
| Petróleo Brasileiro… (PBR) | 100 | 120.34 | +20.3% |
Petróleo Brasileiro… (PBR) returned +304% over 5 years vs Chevron Corporation (CVX)'s +113%. A $10,000 investment in PBR 5 years ago would be worth $40,394 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Chevron Corporation (CVX) | $129.9B | $193.4B | +48.9% |
| Petróleo Brasileiro… (PBR) | $97.3B | $91.4B | -6.1% |
Chevron Corporation's revenue grew from $129.9B (2015) to $193.4B (2024) — a 4.5% CAGR. Petróleo Brasileiro S.A. - Petrobras's revenue grew from $97.3B (2015) to $91.4B (2024) — a -0.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Chevron Corporation (CVX) | 3.5% | 9.1% | +158.6% |
| Petróleo Brasileiro… (PBR) | -8.7% | 8.2% | +194.8% |
Chevron Corporation's net margin went from 4% (2015) to 9% (2024). Petróleo Brasileiro S.A. - Petrobras's net margin went from -9% (2015) to 8% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Chevron Corporation (CVX) | 25.8 | 14.9 | -42.2% |
| Petróleo Brasileiro… (PBR) | 38.3 | 5.5 | -85.6% |
Chevron Corporation has traded in a 10x–78x P/E range over 7 years; current trailing P/E is ~19x. Petróleo Brasileiro S.A. - Petrobras has traded in a 1x–56x P/E range over 7 years; current trailing P/E is ~7x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Chevron Corporation (CVX) | 2.45 | 9.72 | +296.7% |
| Petróleo Brasileiro… (PBR) | -0.32 | 2.34 | +831.2% |
Chevron Corporation's EPS grew from $2.45 (2015) to $9.72 (2024) — a 17% CAGR. Petróleo Brasileiro S.A. - Petrobras's EPS grew from $-0.32 (2015) to $2.34 (2024).
Chart 6Free Cash Flow — 5 Years
Chevron Corporation generated $15B FCF in 2024 (-29% vs 2021). Petróleo Brasileiro S.A. - Petrobras generated $23B FCF in 2024 (-26% vs 2021).
CVX vs PBR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is CVX or PBR a better buy right now?
Petróleo Brasileiro S.A. - Petrobras (PBR) offers the better valuation at 7.1x trailing P/E (7.2x forward), making it the more compelling value choice. Analysts rate Chevron Corporation (CVX) a "Buy" — based on 51 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CVX or PBR?
On trailing P/E, Petróleo Brasileiro S.A. - Petrobras (PBR) is the cheapest at 7.1x versus Chevron Corporation at 19.2x. On forward P/E, Petróleo Brasileiro S.A. - Petrobras is actually cheaper at 7.2x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Petróleo Brasileiro S.A. - Petrobras wins at 0.17x versus Chevron Corporation's 0.62x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — CVX or PBR?
Over the past 5 years, Petróleo Brasileiro S.A. - Petrobras (PBR) delivered a total return of +303.9%, compared to +113.3% for Chevron Corporation (CVX). A $10,000 investment in PBR five years ago would be worth approximately $40K today (assuming dividends reinvested). Over 10 years, the gap is even starker: PBR returned +789.5% versus CVX's +188.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CVX or PBR?
By beta (market sensitivity over 5 years), Petróleo Brasileiro S.A. - Petrobras (PBR) is the lower-risk stock at 0.65β versus Chevron Corporation's 0.66β — meaning CVX is approximately 2% more volatile than PBR relative to the S&P 500. On balance sheet safety, Chevron Corporation (CVX) carries a lower debt/equity ratio of 16% versus 102% for Petróleo Brasileiro S.A. - Petrobras — giving it more financial flexibility in a downturn.
05Which has better profit margins — CVX or PBR?
Chevron Corporation (CVX) is the more profitable company, earning 9.1% net margin versus 8.2% for Petróleo Brasileiro S.A. - Petrobras — meaning it keeps 9.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PBR leads at 28.1% versus 15.0% for CVX. At the gross margin level — before operating expenses — PBR leads at 50.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is CVX or PBR more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Petróleo Brasileiro S.A. - Petrobras (PBR) is the more undervalued stock at a PEG of 0.17x versus Chevron Corporation's 0.62x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Petróleo Brasileiro S.A. - Petrobras (PBR) trades at 7.2x forward P/E versus 27.8x for Chevron Corporation — 20.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CVX: -1.2% to $184.54.
07Which pays a better dividend — CVX or PBR?
All stocks in this comparison pay dividends. Petróleo Brasileiro S.A. - Petrobras (PBR) offers the highest yield at 34.2%, versus 3.5% for Chevron Corporation (CVX).
08Is CVX or PBR better for a retirement portfolio?
For long-horizon retirement investors, Petróleo Brasileiro S.A. - Petrobras (PBR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.65), 34.2% yield, +789.5% 10Y return). Both have compounded well over 10 years (PBR: +789.5%, CVX: +188.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between CVX and PBR?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: CVX is a large-cap income-oriented stock; PBR is a mid-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that beat both.