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CVX Operating Expenses

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As of Q3'25, Chevron's latest reported R&D Expenses stand at USD 288M, while SG&A Expenses are significantly higher at USD 1.52B. This marks a notable increase in both categories compared to the previous quarter, with R&D Expenses rising from USD 252M and SG&A Expenses jumping from USD 889M in Q2'25. Over the period from Q1'23 to Q3'25, both R&D and SG&A Expenses have exhibited considerable volatility, with several sharp increases and decreases. SG&A Expenses consistently represent the dominant portion of operating expenses, peaking at USD 1.59B in Q4'24, while R&D Expenses reached their highest point at USD 449M in the same quarter. The data reveals a pattern of fluctuating expenditures, with no sustained upward or downward trend, indicating dynamic operational spending across recent quarters.