SHEL vs. CVX

Last updated Apr 1, 2026

Compare and contrast key facts about Shell plc (SHEL) and Chevron Corporation (CVX).

Performance

SHEL vs. CVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shell plc (SHEL) and Chevron Corporation (CVX). The values are adjusted to include any dividend payments, if applicable.

SHEL vs. CVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHEL Shell plc	27.75%	22.16%	-0.87%	20.19%	36.18%	34.27%	-41.08%	6.38%	-7.23%	21.67%
CVX Chevron Corporation	37.08%	10.10%	1.29%	-13.63%	58.46%	46.24%	-25.95%	15.27%	-9.75%	10.59%

Fundamentals

EPS SHEL : $4.90 CVX : $6.70
PE Ratio SHEL : 18.97 CVX : 30.86
PEG Ratio SHEL : 0.82 CVX : 4.55
PS Ratio SHEL : 1.03 CVX : 2.04
Total Revenue (TTM) SHEL : $268.66B CVX : $187.03B
Gross Profit (TTM) SHEL : $40.60B CVX : $34.38B
EBITDA (TTM) SHEL : $53.98B CVX : $41.09B

Returns By Period

In the year-to-date period, SHEL achieves a 27.75% return, which is significantly lower than CVX's 37.08% return. Over the past 10 years, SHEL has underperformed CVX with an annualized return of 11.74%, while CVX has yielded a comparatively higher 12.88% annualized return.

SHEL

• 1D: 0.28%
• 1M: 11.36%
• YTD: 27.75%
• 6M: 32.48%
• 1Y: 32.01%
• 3Y*: 22.17%
• 5Y*: 24.77%
• 10Y*: 11.74%

CVX

• 1D: -1.81%
• 1M: 10.78%
• YTD: 37.08%
• 6M: 36.04%
• 1Y: 29.24%
• 3Y*: 12.92%
• 5Y*: 19.23%
• 10Y*: 12.88%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

SHEL vs. CVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHEL

SHEL Risk / Return Rank: 78
SHEL Sharpe Ratio Rank: 82
SHEL Sortino Ratio Rank: 74
SHEL Omega Ratio Rank: 77
SHEL Calmar Ratio Rank: 76
SHEL Martin Ratio Rank: 82

CVX

CVX Risk / Return Rank: 73
CVX Sharpe Ratio Rank: 79
CVX Sortino Ratio Rank: 71
CVX Omega Ratio Rank: 73
CVX Calmar Ratio Rank: 72
CVX Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SHEL vs. CVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shell plc (SHEL) and Chevron Corporation (CVX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SHEL	CVX	Difference
Sharpe ratio Return per unit of total volatility	1.32	1.17	+0.15
Sortino ratio Return per unit of downside risk	1.76	1.59	+0.17
Omega ratio Gain probability vs. loss probability	1.25	1.23	+0.02
Calmar ratio Return relative to maximum drawdown	1.79	1.46	+0.33
Martin ratio Return relative to average drawdown	6.36	3.16	+3.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHEL vs. CVX - Sharpe Ratio Comparison

The current SHEL Sharpe Ratio is 1.32, which is comparable to the CVX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of SHEL and CVX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHEL	CVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.17	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.77	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.45	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.39	-0.16

Correlation

The correlation between SHEL and CVX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SHEL vs. CVX - Dividend Comparison

SHEL's dividend yield for the trailing twelve months is around 3.11%, less than CVX's 3.34% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHEL Shell plc	3.11%	3.90%	4.39%	3.76%	3.48%	3.78%	5.69%	6.27%	6.27%	2.75%	6.49%	8.17%
CVX Chevron Corporation	3.34%	4.49%	4.50%	4.05%	3.16%	4.52%	6.11%	3.95%	4.12%	3.45%	3.64%	4.76%

Drawdowns

SHEL vs. CVX - Drawdown Comparison

The maximum SHEL drawdown since its inception was -71.57%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for SHEL and CVX.

Drawdown Indicators

	SHEL	CVX	Difference
Max Drawdown Largest peak-to-trough decline	-71.57%	-55.77%	-15.80%
Max Drawdown (1Y) Largest decline over 1 year	-18.21%	-20.64%	+2.43%
Max Drawdown (5Y) Largest decline over 5 years	-25.04%	-24.95%	-0.09%
Max Drawdown (10Y) Largest decline over 10 years	-71.57%	-55.77%	-15.80%
Current Drawdown Current decline from peak	0.00%	-2.01%	+2.01%
Average Drawdown Average peak-to-trough decline	-16.83%	-11.40%	-5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.19%	9.56%	-4.37%

Volatility

SHEL vs. CVX - Volatility Comparison

The current volatility for Shell plc (SHEL) is 5.23%, while Chevron Corporation (CVX) has a volatility of 6.11%. This indicates that SHEL experiences smaller price fluctuations and is considered to be less risky than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHEL	CVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	6.11%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	14.76%	+1.07%
Volatility (1Y) Calculated over the trailing 1-year period	24.34%	25.01%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.31%	24.97%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.85%	28.99%	+1.86%

Financials

SHEL vs. CVX - Profitability Comparison

The chart below illustrates the profitability comparison between Shell plc and Chevron Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SHEL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Shell plc reported a gross profit of 11.33B and revenue of 67.74B. Therefore, the gross margin over that period was 16.7%.

CVX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Chevron Corporation reported a gross profit of 12.17B and revenue of 46.87B. Therefore, the gross margin over that period was 26.0%.

SHEL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Shell plc reported an operating income of 7.82B and revenue of 67.74B, resulting in an operating margin of 11.5%.

CVX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Chevron Corporation reported an operating income of 4.60B and revenue of 46.87B, resulting in an operating margin of 9.8%.

SHEL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Shell plc reported a net income of 5.29B and revenue of 67.74B, resulting in a net margin of 7.8%.

CVX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Chevron Corporation reported a net income of 2.85B and revenue of 46.87B, resulting in a net margin of 6.1%.