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CVX Operating ROA

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As of Q4'25, CVX's latest data shows ROA at 0.88%, ROE at 1.53%, and ROIC at 6.98%. This marks a slight decrease in both ROA and ROE compared to the previous quarter, while ROIC has experienced a significant jump from 1.69% in Q3'25. From Q1'23 to Q4'25, the chart reveals a generally declining trend across all three metrics, with notable volatility. All measures saw a sharp drop in Q4'23, followed by partial recoveries in early 2024, but the overall direction remains downward. The most remarkable movement is the spike in ROIC at Q4'25, which contrasts with the continued softness in ROA and ROE, suggesting a potential one-off event or change in capital structure impacting returns on invested capital.