The latest data point for CVX's Operating ROA metrics, as of Q4'25, shows ROE at 1.49%, ROA at 0.85%, and ROIC at 1.38%, reflecting a continued contraction in profitability efficiency compared to prior periods. These figures indicate subdued returns on assets and equity, with no data available for Q1'26. Over the period from Q2'23 to Q4'25, all three metrics—ROE, ROA, and ROIC—exhibited an overall declining trend, starting from peaks around 3.8% for ROE, 2.4% for ROA, and 3.6% for ROIC in Q3'23, before dropping sharply to lows near 1.4%, 0.9%, and 1.3% respectively by Q4'25. A notable inflection point occurred in Q4'23, where values plummeted by over 60% across metrics, followed by partial recoveries in Q1'24 but subsequent steady erosion, highlighting persistent challenges in asset utilization and capital efficiency amid volatile energy sector conditions.