Return on Capital (ROC)
Return on capital (ROC) is after tax rate of return on net business assets. ROIC is unaffected by changes in interest rates or company debt and equity structure. It measures business productivity performance.
Return on Invested Capital (ROIC)
Occidental Petroleum Corp., ROIC calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net operating profit after taxes (NOPAT)1 | 3,380) | 5,524) | 12,526) | 4,213) | (14,889) | |
| Invested capital2 | 66,896) | 56,860) | 56,295) | 58,059) | 63,270) | |
| Performance Ratio | ||||||
| ROIC3 | 5.05% | 9.72% | 22.25% | 7.26% | -23.53% | |
| Benchmarks | ||||||
| ROIC, Competitors4 | ||||||
| Chevron Corp. | 9.64% | 9.17% | 19.68% | 10.04% | — | |
| ConocoPhillips | 9.38% | 15.20% | 28.02% | 13.45% | — | |
| Exxon Mobil Corp. | 8.31% | 12.32% | 21.12% | 12.01% | — | |
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).
1 NOPAT. See details »
2 Invested capital. See details »
3 2024 Calculation
ROIC = 100 × NOPAT ÷ Invested capital
= 100 × 3,380 ÷ 66,896 = 5.05%
4 Click competitor name to see calculations.
Decomposition of ROIC
Occidental Petroleum Corp., decomposition of ROIC
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).
1 Operating profit margin (OPM). See calculations »
2 Turnover of capital (TO). See calculations »
3 Effective cash tax rate (CTR). See calculations »
Operating Profit Margin (OPM)
Occidental Petroleum Corp., OPM calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net operating profit after taxes (NOPAT)1 | 3,380) | 5,524) | 12,526) | 4,213) | (14,889) | |
| Add: Cash operating taxes2 | 1,892) | 1,887) | 2,681) | 1,213) | 655) | |
| Net operating profit before taxes (NOPBT) | 5,272) | 7,411) | 15,207) | 5,426) | (14,234) | |
| Net sales | 26,725) | 28,257) | 36,634) | 25,956) | 17,809) | |
| Profitability Ratio | ||||||
| OPM3 | 19.73% | 26.23% | 41.51% | 20.91% | -79.93% | |
| Benchmarks | ||||||
| OPM, Competitors4 | ||||||
| Chevron Corp. | 14.88% | 13.94% | 22.85% | 15.98% | — | |
| ConocoPhillips | 25.80% | 29.62% | 36.63% | 29.99% | — | |
| Exxon Mobil Corp. | 13.67% | 15.71% | 19.95% | 14.69% | — | |
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).
1 NOPAT. See details »
2 Cash operating taxes. See details »
3 2024 Calculation
OPM = 100 × NOPBT ÷ Net sales
= 100 × 5,272 ÷ 26,725 = 19.73%
4 Click competitor name to see calculations.
Turnover of Capital (TO)
Occidental Petroleum Corp., TO calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 26,725) | 28,257) | 36,634) | 25,956) | 17,809) | |
| Invested capital1 | 66,896) | 56,860) | 56,295) | 58,059) | 63,270) | |
| Efficiency Ratio | ||||||
| TO2 | 0.40 | 0.50 | 0.65 | 0.45 | 0.28 | |
| Benchmarks | ||||||
| TO, Competitors3 | ||||||
| Chevron Corp. | 0.93 | 0.93 | 1.11 | 0.80 | — | |
| ConocoPhillips | 0.51 | 0.69 | 1.04 | 0.60 | — | |
| Exxon Mobil Corp. | 0.90 | 1.09 | 1.34 | 1.01 | — | |
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).
1 Invested capital. See details »
2 2024 Calculation
TO = Net sales ÷ Invested capital
= 26,725 ÷ 66,896 = 0.40
3 Click competitor name to see calculations.
Effective Cash Tax Rate (CTR)
Occidental Petroleum Corp., CTR calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net operating profit after taxes (NOPAT)1 | 3,380) | 5,524) | 12,526) | 4,213) | (14,889) | |
| Add: Cash operating taxes2 | 1,892) | 1,887) | 2,681) | 1,213) | 655) | |
| Net operating profit before taxes (NOPBT) | 5,272) | 7,411) | 15,207) | 5,426) | (14,234) | |
| Tax Rate | ||||||
| CTR3 | 35.88% | 25.46% | 17.63% | 22.36% | — | |
| Benchmarks | ||||||
| CTR, Competitors4 | ||||||
| Chevron Corp. | 30.17% | 29.08% | 22.40% | 21.79% | — | |
| ConocoPhillips | 29.38% | 25.68% | 26.41% | 25.25% | — | |
| Exxon Mobil Corp. | 32.15% | 27.99% | 21.11% | 19.45% | — | |
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).
1 NOPAT. See details »
2 Cash operating taxes. See details »
3 2024 Calculation
CTR = 100 × Cash operating taxes ÷ NOPBT
= 100 × 1,892 ÷ 5,272 = 35.88%
4 Click competitor name to see calculations.