Chevron CorporationCVX
NYSE•Energy•Oil & Gas Integrated
Understand cash generation quality and how management allocates capital.
Free cash flow was $-1.55B in the latest quarter (222.7% decrease YoY). FCF margin is -0.8%. Shares outstanding increased by 13.4% year-over-year, indicating dilution (potentially from stock compensation or capital raises). Free cash flow is the lifeblood of a business — it funds dividends, buybacks, debt reduction, and reinvestment without relying on external capital.
Free cash flow, earnings quality, and capital allocation