Current Ratio
since 2005
Calculation
Occidental Petroleum Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2024 | 0.95 | = | 9,070) | ÷ | 9,521) |
| Dec 31, 2023 | 0.92 | = | 8,375) | ÷ | 9,148) |
| Dec 31, 2022 | 1.15 | = | 8,886) | ÷ | 7,757) |
| Dec 31, 2021 | 1.23 | = | 10,211) | ÷ | 8,324) |
| Dec 31, 2020 | 1.07 | = | 8,819) | ÷ | 8,223) |
| Dec 31, 2019 | 1.25 | = | 18,681) | ÷ | 14,949) |
| Dec 31, 2018 | 1.34 | = | 9,932) | ÷ | 7,412) |
| Dec 31, 2017 | 1.12 | = | 8,270) | ÷ | 7,400) |
| Dec 31, 2016 | 1.32 | = | 8,428) | ÷ | 6,362) |
| Dec 31, 2015 | 1.37 | = | 9,402) | ÷ | 6,842) |
| Dec 31, 2014 | 1.68 | = | 13,873) | ÷ | 8,244) |
| Dec 31, 2013 | 1.34 | = | 11,323) | ÷ | 8,434) |
| Dec 31, 2012 | 1.30 | = | 9,492) | ÷ | 7,290) |
| Dec 31, 2011 | 1.45 | = | 11,542) | ÷ | 7,947) |
| Dec 31, 2010 | 1.67 | = | 13,059) | ÷ | 7,825) |
| Dec 31, 2009 | 1.33 | = | 8,086) | ÷ | 6,092) |
| Dec 31, 2008 | 1.17 | = | 7,172) | ÷ | 6,134) |
| Dec 31, 2007 | 1.37 | = | 8,595) | ÷ | 6,266) |
| Dec 31, 2006 | 1.27 | = | 6,006) | ÷ | 4,724) |
| Dec 31, 2005 | 1.54 | = | 6,574) | ÷ | 4,280) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial data reveals a long-term deterioration in the liquidity position of the organization, characterized by a gradual decline in the current ratio from 2005 through 2024. While the company maintained a current ratio consistently above 1.0 for nearly two decades, the most recent periods indicate a shift toward a negative working capital position.
- Long-Term Liquidity Trends
- Between 2005 and 2014, the current ratio remained relatively robust, fluctuating between 1.17 and 1.68. Peaks in liquidity were observed in 2010 (1.67) and 2014 (1.68), coinciding with periods where current assets significantly exceeded current liabilities. This indicated a strong capacity to meet short-term obligations during the first decade of the analyzed period.
- Volatility and Structural Shifts
- A significant anomaly occurred in 2019, where both current assets and current liabilities experienced substantial increases, reaching 18,681 million US$ and 14,949 million US$, respectively. Despite the scale of these increases, the current ratio remained stable at 1.25, suggesting a proportional increase in both short-term resources and obligations during that fiscal year.
- Recent Liquidity Compression
- A downward trend became more pronounced after 2020, with the current ratio declining from 1.07 in 2020 to 0.92 in 2023. This marks a critical transition where current liabilities began to exceed current assets. Although a slight recovery to 0.95 was noted in 2024, the organization remains in a position of constrained short-term liquidity compared to historical norms.
- Asset and Liability Dynamics
- Current assets have shown higher volatility than current liabilities over the long term. While assets fluctuated between 6,006 million US$ and 18,681 million US$, liabilities remained more stable, generally ranging between 6,000 million US$ and 8,500 million US$, with the exception of the 2019 spike. The recent rise in current liabilities to 9,521 million US$ by 2024, coupled with stagnant asset growth, has been the primary driver of the declining current ratio.
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Comparison to Competitors
Occidental Petroleum Corp., current ratio, long-term trends, comparison to competitors
| Occidental Petroleum Corp. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2024 | 0.95 | 1.06 | 1.29 | 1.31 |
| Dec 31, 2023 | 0.92 | 1.27 | 1.43 | 1.48 |
| Dec 31, 2022 | 1.15 | 1.47 | 1.46 | 1.41 |
| Dec 31, 2021 | 1.23 | 1.26 | 1.34 | 1.04 |
| Dec 31, 2020 | 1.07 | 1.18 | 2.25 | 0.80 |
| Dec 31, 2019 | 1.25 | 1.07 | 2.40 | 0.78 |
| Dec 31, 2018 | 1.34 | 1.25 | 1.79 | 0.84 |
| Dec 31, 2017 | 1.12 | 1.03 | 1.76 | 0.82 |
| Dec 31, 2016 | 1.32 | 0.93 | 1.25 | 0.87 |
| Dec 31, 2015 | 1.37 | 1.34 | 0.95 | 0.79 |
| Dec 31, 2014 | 1.68 | 1.32 | 1.31 | 0.82 |
| Dec 31, 2013 | 1.34 | 1.52 | 1.26 | 0.83 |
| Dec 31, 2012 | 1.30 | 1.63 | 1.38 | 1.01 |
| Dec 31, 2011 | 1.45 | 1.58 | 1.08 | 0.94 |
| Dec 31, 2010 | 1.67 | 1.68 | 1.26 | 0.94 |
| Dec 31, 2009 | 1.33 | 1.42 | 0.89 | 1.06 |
| Dec 31, 2008 | 1.17 | 1.14 | 0.96 | 1.47 |
| Dec 31, 2007 | 1.37 | 1.17 | 0.92 | 1.47 |
| Dec 31, 2006 | 1.27 | 1.28 | 0.95 | 1.55 |
| Dec 31, 2005 | 1.54 | 1.37 | 0.92 | 1.58 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Occidental Petroleum Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Occidental Petroleum Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2024 | 0.95 | 1.23 |
| Dec 31, 2023 | 0.92 | 1.41 |
| Dec 31, 2022 | 1.15 | 1.44 |
| Dec 31, 2021 | 1.23 | 1.14 |
| Dec 31, 2020 | 1.07 | 0.99 |
| Dec 31, 2019 | 1.25 | 0.98 |
| Dec 31, 2018 | 1.34 | 1.04 |
| Dec 31, 2017 | 1.12 | 0.97 |
| Dec 31, 2016 | 1.32 | 0.92 |
| Dec 31, 2015 | 1.37 | 0.97 |
| Dec 31, 2014 | 1.68 | 1.02 |
| Dec 31, 2013 | 1.34 | 1.07 |
| Dec 31, 2012 | 1.30 | 1.25 |
| Dec 31, 2011 | 1.45 | 1.12 |
| Dec 31, 2010 | 1.67 | 1.20 |
| Dec 31, 2009 | 1.33 | 1.11 |
| Dec 31, 2008 | 1.17 | 1.26 |
| Dec 31, 2007 | 1.37 | 1.26 |
| Dec 31, 2006 | 1.27 | 1.32 |
| Dec 31, 2005 | 1.54 | 1.37 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Occidental Petroleum Corp., current ratio, long-term trends, comparison to industry (energy)
| Occidental Petroleum Corp. | Energy | |
|---|---|---|
| Dec 31, 2024 | 0.95 | 1.25 |
| Dec 31, 2023 | 0.92 | 1.40 |
| Dec 31, 2022 | 1.15 | 1.42 |
| Dec 31, 2021 | 1.23 | 1.15 |
| Dec 31, 2020 | 1.07 | 1.02 |
| Dec 31, 2019 | 1.25 | 1.00 |
| Dec 31, 2018 | 1.34 | 1.06 |
| Dec 31, 2017 | 1.12 | 1.00 |
| Dec 31, 2016 | 1.32 | 1.02 |
| Dec 31, 2015 | 1.37 | 1.09 |
| Dec 31, 2014 | 1.68 | 1.10 |
| Dec 31, 2013 | 1.34 | 1.16 |
| Dec 31, 2012 | 1.30 | 1.31 |
| Dec 31, 2011 | 1.45 | 1.18 |
| Dec 31, 2010 | 1.67 | 1.24 |
| Dec 31, 2009 | 1.33 | 1.17 |
| Dec 31, 2008 | 1.17 | 1.28 |
| Dec 31, 2007 | 1.37 | 1.27 |
| Dec 31, 2006 | 1.27 | 1.33 |
| Dec 31, 2005 | 1.54 | 1.38 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).