Comprehensive Stock Comparison
Compare Ecopetrol S.A. (EC) vs Chevron Corporation (CVX) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CVX | -1.8% revenue growth vs EC's -6.9% |
| Value | EC | Lower P/E (0.0x vs 27.8x) |
| Quality / Margins | EC | 8.2% net margin vs CVX's 6.6% |
| Stability / Safety | CVX | Beta 0.66 vs EC's 0.90, lower leverage |
| Dividends | EC | 18.3% yield, 1-year raise streak, vs CVX's 3.5% |
| Momentum (1Y) | EC | +36.1% vs CVX's +22.1% |
| Efficiency (ROA) | CVX | 3.8% ROA vs EC's 3.5%, ROIC 12.6% vs 14.0% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Ecopetrol is Colombia's state-controlled integrated oil and gas company that explores for, produces, refines, and transports hydrocarbons. It generates revenue primarily from crude oil and natural gas sales (roughly 70% of total), with additional streams from refined products, petrochemicals, pipeline transportation, and power transmission. Its key advantage is its dominant position as Colombia's national oil champion—controlling the country's major pipelines and refineries—which creates significant barriers to entry and provides strategic control over the energy value chain.
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.
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
EC leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). CVX leads in 2 (Profitability & Efficiency, Risk & Volatility). 1 tied.
Financial Metrics (TTM)
EC is the larger business by revenue, generating $125.67T annually — 675.9x CVX's $185.9B. Profitability is closely matched — net margins range from 8.2% (EC) to 6.6% (CVX). On growth, CVX holds the edge at -5.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ECEcopetrol S.A. | CVXChevron Corporati… |
|---|---|---|
| RevenueTrailing 12 months | $125.67T | $185.9B |
| EBITDAEarnings before interest/tax | $41.82T | $30.4B |
| Net IncomeAfter-tax profit | $10.31T | $12.3B |
| Free Cash FlowCash after capex | $17.21T | $16.2B |
| Gross MarginGross profit ÷ Revenue | +31.6% | +14.7% |
| Operating MarginEBIT ÷ Revenue | +24.8% | +5.5% |
| Net MarginNet income ÷ Revenue | +8.2% | +6.6% |
| FCF MarginFCF ÷ Revenue | +13.7% | +8.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -13.8% | -5.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -29.8% | -23.6% |
Valuation Metrics
At 6.6x trailing earnings, EC trades at a 65% valuation discount to CVX's 19.2x P/E. On an enterprise value basis, EC's 3.7x EV/EBITDA is more attractive than CVX's 8.3x.
| Metric | ECEcopetrol S.A. | CVXChevron Corporati… |
|---|---|---|
| Market CapShares × price | $24.4B | $369.8B |
| Enterprise ValueMkt cap + debt − cash | $52.6B | $387.5B |
| Trailing P/EPrice ÷ TTM EPS | 6.65x | 19.21x |
| Forward P/EPrice ÷ next-FY EPS est. | 0.00x | 27.77x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.43x |
| EV / EBITDAEnterprise value multiple | 3.69x | 8.28x |
| Price / SalesMarket cap ÷ Revenue | 0.69x | 1.91x |
| Price / BookPrice ÷ Book value/share | 0.84x | 2.22x |
| Price / FCFMarket cap ÷ FCF | 2.83x | 24.58x |
Profitability & Efficiency
EC delivers a 9.6% return on equity — every $100 of shareholder capital generates $10 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 EC's 1.09x. On the Piotroski fundamental quality scale (0–9), CVX scores 5/9 vs EC's 3/9, reflecting solid financial health.
| Metric | ECEcopetrol S.A. | CVXChevron Corporati… |
|---|---|---|
| ROE (TTM)Return on equity | +9.6% | +6.6% |
| ROA (TTM)Return on assets | +3.5% | +3.8% |
| ROICReturn on invested capital | +14.0% | +12.6% |
| ROCEReturn on capital employed | +15.4% | +13.0% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 |
| Debt / EquityFinancial leverage | 1.09x | 0.16x |
| Net DebtTotal debt minus cash | $105.91T | $17.8B |
| Cash & Equiv.Liquid assets | $14.05T | $6.8B |
| Total DebtShort + long-term debt | $119.97T | $24.5B |
| Interest CoverageEBIT ÷ Interest expense | 4.91x | 17.22x |
Total Returns (with DRIP)
A $10,000 investment in CVX five years ago would be worth $21,326 today (with dividends reinvested), compared to $16,049 for EC. Over the past 12 months, EC leads with a +36.1% total return vs CVX's +22.1%. The 3-year compound annual growth rate (CAGR) favors EC at 16.4% vs CVX's 8.7% — a key indicator of consistent wealth creation.
| Metric | ECEcopetrol S.A. | CVXChevron Corporati… |
|---|---|---|
| YTD ReturnYear-to-date | +16.3% | +20.9% |
| 1-Year ReturnPast 12 months | +36.1% | +22.1% |
| 3-Year ReturnCumulative with dividends | +57.8% | +28.4% |
| 5-Year ReturnCumulative with dividends | +60.5% | +113.3% |
| 10-Year ReturnCumulative with dividends | +242.5% | +188.7% |
| CAGR (3Y)Annualised 3-year return | +16.4% | +8.7% |
Risk & Volatility
CVX is the less volatile stock with a 0.66 beta — it tends to amplify market swings less than EC's 0.90 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CVX currently trades 99.4% from its 52-week high vs EC's 89.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ECEcopetrol S.A. | CVXChevron Corporati… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.90x | 0.66x |
| 52-Week HighHighest price in past year | $13.27 | $187.90 |
| 52-Week LowLowest price in past year | $7.80 | $132.04 |
| % of 52W HighCurrent price vs 52-week peak | +89.6% | +99.4% |
| RSI (14)Momentum oscillator 0–100 | 48.6 | 64.7 |
| Avg Volume (50D)Average daily shares traded | 2.5M | 9.5M |
Analyst Outlook
Wall Street rates EC as "Hold" and CVX as "Buy". Consensus price targets imply -1.2% upside for CVX (target: $185) vs -13.0% for EC (target: $10). For income investors, EC offers the higher dividend yield at 18.27% vs CVX's 3.48%.
| Metric | ECEcopetrol S.A. | CVXChevron Corporati… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $10.35 | $184.54 |
| # AnalystsCovering analysts | 11 | 51 |
| Dividend YieldAnnual dividend ÷ price | +18.3% | +3.5% |
| Dividend StreakConsecutive years of raises | 1 | 7 |
| Dividend / ShareAnnual DPS | $8177.16 | $6.49 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | +4.2% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Ecopetrol S.A. (EC) | 100 | 69.16 | -30.8% |
| Chevron Corporation (CVX) | 100 | 180.17 | +80.2% |
Chevron Corporation (CVX) returned +113% over 5 years vs Ecopetrol S.A. (EC)'s +60%. A $10,000 investment in CVX 5 years ago would be worth $21,326 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Ecopetrol S.A. (EC) | $52.3T | $133.3T | +154.7% |
| Chevron Corporation (CVX) | $129.9B | $193.4B | +48.9% |
Ecopetrol S.A.'s revenue grew from $52.3T (2015) to $133.3T (2024) — a 10.9% CAGR. Chevron Corporation's revenue grew from $129.9B (2015) to $193.4B (2024) — a 4.5% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Ecopetrol S.A. (EC) | -13.7% | 10.4% | +175.5% |
| Chevron Corporation (CVX) | 3.5% | 9.1% | +158.6% |
Ecopetrol S.A.'s net margin went from -14% (2015) to 10% (2024). Chevron Corporation's net margin went from 4% (2015) to 9% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Ecopetrol S.A. (EC) | 0 | 0 | — |
| Chevron Corporation (CVX) | 25.8 | 14.9 | -42.2% |
Ecopetrol S.A. has traded in a 0x–0x P/E range over 8 years; current trailing P/E is ~7x. Chevron Corporation has traded in a 10x–78x P/E range over 7 years; current trailing P/E is ~19x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Ecopetrol S.A. (EC) | -1,939.71 | 6,732 | +447.1% |
| Chevron Corporation (CVX) | 2.45 | 9.72 | +296.7% |
Ecopetrol S.A.'s EPS grew from $-1939.71 (2015) to $6732.00 (2024). Chevron Corporation's EPS grew from $2.45 (2015) to $9.72 (2024) — a 17% CAGR.
Chart 6Free Cash Flow — 5 Years
Ecopetrol S.A. generated $32.5T FCF in 2024 (+123% vs 2021). Chevron Corporation generated $15B FCF in 2024 (-29% vs 2021).
EC vs CVX: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is EC or CVX a better buy right now?
Ecopetrol S.A. (EC) offers the better valuation at 6.6x trailing P/E (0.0x 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 — EC or CVX?
On trailing P/E, Ecopetrol S.A. (EC) is the cheapest at 6.6x versus Chevron Corporation at 19.2x. On forward P/E, Ecopetrol S.A. is actually cheaper at 0.0x.
03Which is the better long-term investment — EC or CVX?
Over the past 5 years, Chevron Corporation (CVX) delivered a total return of +113.3%, compared to +60.5% for Ecopetrol S.A. (EC). A $10,000 investment in CVX five years ago would be worth approximately $21K today (assuming dividends reinvested). Over 10 years, the gap is even starker: EC returned +242.5% 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 — EC or CVX?
By beta (market sensitivity over 5 years), Chevron Corporation (CVX) is the lower-risk stock at 0.66β versus Ecopetrol S.A.'s 0.90β — meaning EC is approximately 36% more volatile than CVX relative to the S&P 500. On balance sheet safety, Chevron Corporation (CVX) carries a lower debt/equity ratio of 16% versus 109% for Ecopetrol S.A. — giving it more financial flexibility in a downturn.
05Which has better profit margins — EC or CVX?
Ecopetrol S.A. (EC) is the more profitable company, earning 10.4% net margin versus 9.1% for Chevron Corporation — meaning it keeps 10.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EC leads at 28.8% versus 15.0% for CVX. At the gross margin level — before operating expenses — EC leads at 35.1%, 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 EC or CVX more undervalued right now?
On forward earnings alone, Ecopetrol S.A. (EC) trades at 0.0x forward P/E versus 27.8x for Chevron Corporation — 27.8x 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 — EC or CVX?
All stocks in this comparison pay dividends. Ecopetrol S.A. (EC) offers the highest yield at 18.3%, versus 3.5% for Chevron Corporation (CVX).
08Is EC or CVX better for a retirement portfolio?
For long-horizon retirement investors, Chevron Corporation (CVX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.66), 3.5% yield, +188.7% 10Y return). Both have compounded well over 10 years (CVX: +188.7%, EC: +242.5%), 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 EC and CVX?
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: EC is a mid-cap deep-value stock; CVX is a large-cap income-oriented 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.
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