As of Q4'25, Chevron's operation income stands at USD 4.6B, reflecting a year-over-year decline of 26.5%. This marks a continued downward trend from the recent peak of USD 8.0B in Q1'24, with the latest quarter showing both lower absolute income and negative YoY growth. From Q1'23 to Q4'25, operation income has exhibited significant volatility, peaking at USD 9.6B in Q1'23 before declining sharply to USD 3.6B in Q4'23, then partially recovering in early 2024. However, the overall trend is downward, with most quarters after Q1'24 showing sequential declines and negative YoY growth rates, except for a brief positive spike in Q4'24. This suggests ongoing challenges in sustaining operational profitability over the observed period.