Stock Analysis on Net
Stock Analysis on Net

Occidental Petroleum Corp. (NYSE:OXY)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Occidental Petroleum Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Activity Ratio
Total Asset Turnover
Reported 0.38 0.50 0.35 0.22 0.19
Adjusted 0.38 0.50 0.35 0.22 0.19
Liquidity Ratio
Current Ratio
Reported 0.92 1.15 1.23 1.07 1.25
Adjusted 0.93 1.17 1.24 1.08 1.25
Solvency Ratios
Debt to Equity
Reported 0.65 0.66 1.46 1.95 1.13
Adjusted 0.58 0.58 1.11 1.45 0.91
Debt to Capital
Reported 0.39 0.40 0.59 0.66 0.53
Adjusted 0.37 0.37 0.53 0.59 0.48
Financial Leverage
Reported 2.45 2.41 3.69 4.31 3.19
Adjusted 2.05 2.04 2.74 3.12 2.49
Profitability Ratios
Net Profit Margin
Reported 16.62% 36.32% 8.95% -83.28% -3.27%
Adjusted 17.03% 32.99% 11.55% -90.53% -7.81%
Return on Equity (ROE)
Reported 15.52% 44.22% 11.42% -79.85% -1.95%
Adjusted 13.28% 33.83% 10.91% -62.78% -3.62%
Return on Assets (ROA)
Reported 6.35% 18.32% 3.09% -18.52% -0.61%
Adjusted 6.49% 16.62% 3.99% -20.14% -1.46%

Based on: 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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Occidental Petroleum Corp. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Occidental Petroleum Corp. adjusted current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Occidental Petroleum Corp. adjusted debt-to-equity ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Occidental Petroleum Corp. adjusted debt-to-capital ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Occidental Petroleum Corp. adjusted financial leverage ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Occidental Petroleum Corp. adjusted net profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Occidental Petroleum Corp. adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Occidental Petroleum Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Occidental Petroleum Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net sales 28,257 36,634 25,956 17,809 20,393
Total assets 74,008 72,609 75,036 80,064 109,330
Activity Ratio
Total asset turnover1 0.38 0.50 0.35 0.22 0.19
Adjusted
Selected Financial Data (US$ in millions)
Net sales 28,257 36,634 25,956 17,809 20,393
Adjusted total assets2 74,119 72,737 75,133 80,061 109,333
Activity Ratio
Adjusted total asset turnover3 0.38 0.50 0.35 0.22 0.19

Based on: 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).

1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 28,257 ÷ 74,008 = 0.38

2 Adjusted total assets. See details »

3 2023 Calculation
Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 28,257 ÷ 74,119 = 0.38

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Occidental Petroleum Corp. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Current assets 8,375 8,886 10,211 8,819 18,681
Current liabilities 9,148 7,757 8,324 8,223 14,949
Liquidity Ratio
Current ratio1 0.92 1.15 1.23 1.07 1.25
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 8,512 9,044 10,345 8,872 18,740
Current liabilities 9,148 7,757 8,324 8,223 14,949
Liquidity Ratio
Adjusted current ratio3 0.93 1.17 1.24 1.08 1.25

Based on: 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).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 8,375 ÷ 9,148 = 0.92

2 Adjusted current assets. See details »

3 2023 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 8,512 ÷ 9,148 = 0.93

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Occidental Petroleum Corp. adjusted current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 19,738 19,835 29,617 36,185 38,588
Stockholders’ equity 30,250 30,085 20,327 18,573 34,232
Solvency Ratio
Debt to equity1 0.65 0.66 1.46 1.95 1.13
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 20,911 20,765 30,388 37,299 40,011
Adjusted total equity3 36,224 35,725 27,463 25,683 43,952
Solvency Ratio
Adjusted debt to equity4 0.58 0.58 1.11 1.45 0.91

Based on: 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).

1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 19,738 ÷ 30,250 = 0.65

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 20,911 ÷ 36,224 = 0.58

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Occidental Petroleum Corp. adjusted debt-to-equity ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 19,738 19,835 29,617 36,185 38,588
Total capital 49,988 49,920 49,944 54,758 72,820
Solvency Ratio
Debt to capital1 0.39 0.40 0.59 0.66 0.53
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 20,911 20,765 30,388 37,299 40,011
Adjusted total capital3 57,135 56,490 57,851 62,982 83,963
Solvency Ratio
Adjusted debt to capital4 0.37 0.37 0.53 0.59 0.48

Based on: 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).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 19,738 ÷ 49,988 = 0.39

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 20,911 ÷ 57,135 = 0.37

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Occidental Petroleum Corp. adjusted debt-to-capital ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total assets 74,008 72,609 75,036 80,064 109,330
Stockholders’ equity 30,250 30,085 20,327 18,573 34,232
Solvency Ratio
Financial leverage1 2.45 2.41 3.69 4.31 3.19
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 74,119 72,737 75,133 80,061 109,333
Adjusted total equity3 36,224 35,725 27,463 25,683 43,952
Solvency Ratio
Adjusted financial leverage4 2.05 2.04 2.74 3.12 2.49

Based on: 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).

1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 74,008 ÷ 30,250 = 2.45

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 74,119 ÷ 36,224 = 2.05

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Occidental Petroleum Corp. adjusted financial leverage ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Occidental 4,696 13,304 2,322 (14,831) (667)
Net sales 28,257 36,634 25,956 17,809 20,393
Profitability Ratio
Net profit margin1 16.62% 36.32% 8.95% -83.28% -3.27%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 4,812 12,087 2,997 (16,123) (1,592)
Net sales 28,257 36,634 25,956 17,809 20,393
Profitability Ratio
Adjusted net profit margin3 17.03% 32.99% 11.55% -90.53% -7.81%

Based on: 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).

1 2023 Calculation
Net profit margin = 100 × Net income (loss) attributable to Occidental ÷ Net sales
= 100 × 4,696 ÷ 28,257 = 16.62%

2 Adjusted net income (loss). See details »

3 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Net sales
= 100 × 4,812 ÷ 28,257 = 17.03%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Occidental Petroleum Corp. adjusted net profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Occidental 4,696 13,304 2,322 (14,831) (667)
Stockholders’ equity 30,250 30,085 20,327 18,573 34,232
Profitability Ratio
ROE1 15.52% 44.22% 11.42% -79.85% -1.95%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 4,812 12,087 2,997 (16,123) (1,592)
Adjusted total equity3 36,224 35,725 27,463 25,683 43,952
Profitability Ratio
Adjusted ROE4 13.28% 33.83% 10.91% -62.78% -3.62%

Based on: 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).

1 2023 Calculation
ROE = 100 × Net income (loss) attributable to Occidental ÷ Stockholders’ equity
= 100 × 4,696 ÷ 30,250 = 15.52%

2 Adjusted net income (loss). See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted total equity
= 100 × 4,812 ÷ 36,224 = 13.28%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Occidental Petroleum Corp. adjusted ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Occidental 4,696 13,304 2,322 (14,831) (667)
Total assets 74,008 72,609 75,036 80,064 109,330
Profitability Ratio
ROA1 6.35% 18.32% 3.09% -18.52% -0.61%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 4,812 12,087 2,997 (16,123) (1,592)
Adjusted total assets3 74,119 72,737 75,133 80,061 109,333
Profitability Ratio
Adjusted ROA4 6.49% 16.62% 3.99% -20.14% -1.46%

Based on: 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).

1 2023 Calculation
ROA = 100 × Net income (loss) attributable to Occidental ÷ Total assets
= 100 × 4,696 ÷ 74,008 = 6.35%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 4,812 ÷ 74,119 = 6.49%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Occidental Petroleum Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.