CHEVRON CORP R&D Expense 2008-2024 | CVX
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What is r&d expense?
Research and development expense represents the costs incurred in discovering and developing new products, processes, or technologies.
What is CHEVRON CORP's current r&d expense?
CHEVRON CORP (CVX) annual r&d expense for 2024 was $353.0M, a 10.31% increase from 2023.
What was CHEVRON CORP's r&d expense in 2023?
CHEVRON CORP annual r&d expense for 2023 was $320.0M, a 19.40% increase from 2022.
What was CHEVRON CORP's r&d expense in 2022?
CHEVRON CORP annual r&d expense for 2022 was $268.0M, a 0.00% increase from 2021.
What is CHEVRON CORP's 5-year r&d expense CAGR?
CHEVRON CORP r&d expense grew at a compound annual growth rate (CAGR) of 6.73% from FY2019 to FY2024, going from $500.0M to $353.0M over 5 years.
R&D Expense History
Year-over-year comparison from 10-K annual reports
Key Statistics
Trend Direction
Growing
CAGR-6.7%
FY2019
$500.0M
→
FY2024
$353.0M
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5 years selected
R&D Expense History
| Period | Value | Change | Source |
|---|---|---|---|
| FY2024 | $353.0M | +10.3% | 10-K |
| FY2023 | $320.0M | +19.4% | 10-K |
| FY2022 | $268.0M | +0.0% | 10-K |
| FY2021 | $268.0M | -38.4% | 10-K |
| FY2020 | $435.0M | -13.0% | 10-K |
| FY2019 | $500.0M | +10.4% | 10-K |
| FY2018 | $453.0M | +4.6% | 10-K |
| FY2017 | $433.0M | -9.0% | 10-K |
| FY2016 | $476.0M | -20.8% | 10-K |
| FY2015 | $601.0M | -15.0% | 10-K |
| FY2014 | $707.0M | -5.7% | 10-K |
| FY2013 | $750.0M | +15.7% | 10-K |
| FY2012 | $648.0M | +3.3% | 10-K |
| FY2011 | $627.0M | +19.2% | 10-K |
| FY2010 | $526.0M | -12.8% | 10-K |
| FY2009 | $603.0M | -14.1% | 10-K |
| FY2008 | $702.0M | - | 10-K |