Analysis of Geographic Areas
Occidental Petroleum Corp. operates in 2 regions: United States and International.
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Area Asset Turnover
Occidental Petroleum Corp., asset turnover by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International |
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).
- United States Asset Turnover
- The asset turnover ratio for the United States region shows an initial upward trend from 0.24 in 2020 to 0.62 in 2022, indicating improving efficiency in generating revenue from assets during this period. However, this trend reverses in the following years with a decline to 0.48 in 2023 and further down to 0.38 in 2024, suggesting a reduction in asset utilization effectiveness in the most recent years.
- International Asset Turnover
- The international asset turnover ratio begins at a higher point of 0.54 in 2020 compared to the United States. It rises consistently to 0.84 in 2022, reaching a peak indicating strong asset efficiency in that period. After 2022, the ratio declines to 0.65 in 2023 and remains stable at 0.65 in 2024, implying a moderate decrease but relatively stable performance in the later years.
- Comparative Insights
- The international segment exhibits consistently higher asset turnover ratios than the United States across all reported years, reflecting comparatively greater efficiency in asset use internationally. Both regions show a peak in 2022 followed by a decline; however, the U.S. suffers a more pronounced decrease by 2024, while the international ratio stabilizes at a moderate level. This suggests potential regional differences in asset management effectiveness or market conditions impacting turnover ratios post-2022.
Area Asset Turnover: United States
Occidental Petroleum Corp.; United States; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue from customers | |||||
| Property, plant and equipment, net | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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 2024 Calculation
Area asset turnover = Revenue from customers ÷ Property, plant and equipment, net
= ÷ =
- Revenue from customers
- The revenue experienced a significant increase from 14,167 million US dollars in 2020 to a peak of 32,020 million in 2022. This was followed by a decline in the subsequent years, with revenue decreasing to 24,736 million in 2023 and further to 23,880 million in 2024. Overall, revenue showed strong growth initially, then a notable decrease over the last two years.
- Property, plant and equipment, net
- The net value of property, plant, and equipment exhibited a declining trend from 59,016 million US dollars in 2020 to 51,646 million in 2023. However, in 2024, there was a substantial increase to 62,604 million, surpassing the initial value in 2020. This suggests a recent increase in investment or revaluation of assets after several years of reduction.
- Area asset turnover
- The area asset turnover ratio rose sharply from 0.24 in 2020 to a peak of 0.62 in 2022, indicating improved efficiency in generating revenue from assets during this period. After 2022, the ratio declined to 0.48 in 2023 and further to 0.38 in 2024. Despite the decline, the ratio in 2024 remains higher than in 2020, showing moderate ongoing asset utilization efficiency.
Area Asset Turnover: International
Occidental Petroleum Corp.; International; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue from customers | |||||
| Property, plant and equipment, net | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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 2024 Calculation
Area asset turnover = Revenue from customers ÷ Property, plant and equipment, net
= ÷ =
- Revenue from customers
- The revenue experienced growth from 2020 through 2022, increasing from 3,721 million USD in 2020 to a peak of 5,638 million USD in 2022. However, this upward trend was followed by a decline in the subsequent years, with revenue decreasing to 4,488 million USD in 2023 and slightly further to 4,398 million USD in 2024. This indicates volatility in revenue with a notable peak in 2022.
- Property, plant and equipment, net
- The net value of property, plant, and equipment remained relatively stable over the period observed. Starting at 6,873 million USD in 2020, there was a slight decline through 2022, reaching a low of 6,678 million USD, followed by a modest recovery to 6,883 million USD in 2023 and a small decrease again to 6,774 million USD in 2024. Overall, the asset base in terms of property, plant, and equipment showed minimal fluctuation, suggesting a stable investment level in physical assets within this geographic area.
- Area asset turnover
- This ratio, indicating efficiency in using the asset base to generate revenue, showed improvement from 0.54 in 2020 to 0.84 in 2022, aligning with the revenue increase in that year. Subsequently, the asset turnover ratio declined to 0.65 in 2023 and remained steady at 0.65 in 2024. This pattern suggests an initial increase in operational efficiency followed by a decrease, potentially related to the reduced revenue levels seen in the later years.
Revenue from customers
Occidental Petroleum Corp., revenue from customers by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International | |||||
| Eliminations | |||||
| Total |
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).
- Trend in United States Revenue
- The revenue from the United States shows a significant increase from 14,167 million USD in 2020 to a peak of 32,020 million USD in 2022. After this peak, the revenue decreases to 24,736 million USD in 2023 and further declines slightly to 23,880 million USD in 2024. This indicates a strong growth phase up to 2022, followed by a contraction in the subsequent two years.
- Trend in International Revenue
- International revenue exhibits a more moderate upward trend compared to the U.S. figures. It rises steadily from 3,721 million USD in 2020 to 5,638 million USD in 2022. However, similar to the U.S. segment, it declines afterward to 4,488 million USD in 2023 and slightly down to 4,398 million USD in 2024. The international segment's variability is less pronounced but follows the overall pattern of growth until 2022 and subsequent decrease.
- Eliminations
- The eliminations row, reflecting inter-segment adjustments, shows increasing negative values from -758 million USD in 2020 to -1,424 million USD in 2022, suggesting growing intercompany transactions or adjustments up to that year. After 2022, eliminations reduce in absolute size to -899 million USD in 2023 and -865 million USD in 2024, indicating a decrease in such adjustments.
- Total Revenue
- Total reported revenue reveals a robust increase from 17,130 million USD in 2020 to a maximum of 36,234 million USD in 2022. This rapid growth is followed by a decline to 28,325 million USD in 2023 and a slight further reduction to 27,413 million USD in 2024. The overall pattern suggests a cyclical revenue performance, with a pronounced peak in 2022 and a subsequent normalization or contraction phase.
- Summary of Observations
- The data indicates a period of strong growth in revenues up to 2022 across both U.S. and international markets, with the U.S. segment driving the majority of the increase. Post-2022, there is a noticeable reduction in revenues in both geographical areas, as well as a reduction in eliminations impact. This pattern could suggest changes in market conditions, pricing, production volumes, or other operational factors influencing the company's geographic revenue distribution. The consistency in trends across both U.S. and international segments implies broad market or company-wide influences rather than isolated regional effects.
Property, plant and equipment, net
Occidental Petroleum Corp., property, plant and equipment, net by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International | |||||
| Total |
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).
- United States Property, Plant, and Equipment (PP&E)
- The net value of property, plant, and equipment in the United States shows a declining trend from 2020 through 2023, decreasing from $59,016 million in 2020 to $51,646 million in 2023. This represents an approximate decrease of 12.4% over the four-year period. However, in 2024, the value increases sharply to $62,604 million, exceeding the 2020 level and reversing the previous decline.
- International Property, Plant, and Equipment (PP&E)
- The international segment exhibits a generally stable pattern over the five years. The value starts at $6,873 million in 2020, marginally decreases to a low of $6,678 million in 2022, before experiencing a slight rise to $6,883 million in 2023 and a minor decline to $6,774 million in 2024. Overall, the international PP&E fluctuates within a narrow band, reflecting relative stability.
- Total Property, Plant, and Equipment (PP&E)
- The total net PP&E follows a trend largely influenced by the United States segment due to its larger magnitude. There is a marked decline from $65,889 million in 2020 to $58,529 million in 2023, representing an 11.2% decrease. The total then experiences a significant rebound in 2024, rising to $69,378 million. This recovery reflects the substantial increase observed in the United States assets during the last reported year.
- Summary and Insights
- The data indicates a period of contraction in the value of property, plant, and equipment within the United States from 2020 to 2023, possibly associated with asset disposals, impairments, or reduced investments. The subsequent sharp increase in 2024 suggests renewed capital expenditure, asset acquisitions, or revaluations in the domestic operations. International assets show minimal variability, indicating steady investment or maintenance levels without significant expansion or reduction. Overall, the company's total property, plant, and equipment value reflects these dynamics, with a downward trend reversed by a material recovery in the latest year.