Liquidity ratios measure the company ability to meet its short-term obligations.
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Short-term (Operating) Activity Ratios
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Analysis of Revenues
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Liquidity Ratios (Summary)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Current Ratio
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The current ratio demonstrated some fluctuations over the period analyzed. Starting at 1.18 in the first quarter of 2020, it experienced a decline to a low of 0.85 in June 2020, indicating a potential tightening in short-term liquidity during this period. Subsequently, the ratio showed a general recovery trend, reaching around 1.34 in mid-2021, followed by moderate oscillations between approximately 1.0 and 1.23 through to the end of 2023.
Beginning in 2024, the current ratio exhibited a mild upward trend, gradually increasing from 0.95 in the first quarter to 1.05 by the end of 2025, suggesting a slight improvement in the ability to meet short-term obligations. Overall, despite some volatility, the current ratio remained close to or slightly above 1.0 for most of the latter period, reflecting a relatively stable liquidity position.
- Quick Ratio
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The quick ratio mirrored the general pattern seen in the current ratio but showed more pronounced changes. It began at 0.37 in March 2020 and slightly decreased during mid-2020. From late 2020 through mid-2021, the quick ratio increased significantly, peaking at 0.84 in December 2021, indicating an improvement in the company's ability to cover current liabilities with its most liquid assets.
After this peak, the ratio experienced a decline in 2023, reaching a low of 0.45 in mid-2023 before gradually recovering again in 2024. By the end of the period, the quick ratio rose to 0.75, signaling a strengthening liquid asset position relative to current liabilities compared to earlier in the timeframe. The fluctuations suggest varying levels of liquidity management throughout the period but an overall moderate improvement by the end.
- Cash Ratio
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The cash ratio started at 0.17 in the first quarter of 2020, then experienced a decline in mid-2020 down to 0.10, indicating less cash available relative to current liabilities during this period. It rebounded to 0.48 in June 2021, reflecting a significant increase in cash holdings or equivalent liquidity.
Subsequently, the ratio decreased again, exhibiting considerable variability with several lower points below 0.20 throughout late 2022 to 2023. In 2024 and 2025, there was a notable upward trend with the cash ratio increasing steadily from 0.14 in early 2024 to 0.27 by mid-2025. This trend points to a gradual improvement in immediate liquidity, although the cash ratio remained relatively low compared to the current and quick ratios, indicating that cash alone made up a smaller proportion of current liabilities.
Current Ratio
Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||
Current ratio1 | |||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||
Current Ratio, Competitors2 | |||||||||||||||||||||||||||||
Chevron Corp. | |||||||||||||||||||||||||||||
ConocoPhillips | |||||||||||||||||||||||||||||
Exxon Mobil Corp. |
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The quarterly financial data reveals several noteworthy trends in liquidity and working capital management over the observed periods.
- Current Assets
- The level of current assets exhibited fluctuations throughout the quarters. Initially, there was a significant decline from 14,109 million US dollars in March 2020 to 8,437 million in June 2020. Subsequently, current assets partially rebounded, reaching a peak around 12,844 million by mid-2021. The latter quarters from 2022 to 2025 showed variability but generally steadied around the 8,000 to 10,000 million range, indicating relative stabilization in liquid resources available.
- Current Liabilities
- Current liabilities demonstrated a generally downward trend from 11,963 million in March 2020 to approximately 7,757 million in December 2022, suggesting some improvement in short-term obligations or effective liability management during this period. However, starting from 2023, current liabilities increased again, reaching values around 9,000 to 9,600 million in more recent quarters, which may reflect changes in operational or financing activities.
- Current Ratio
- The current ratio fluctuated between 0.85 and 1.34 over the timeline. It was notably below 1.0 in mid-2020 indicating periods of potential liquidity stress. The ratio improved and remained mostly above 1.0 from late 2020 through 2022, signaling better coverage of short-term liabilities by current assets. The ratio trended downward towards 1.0 and slightly below in some recent quarters (2023–2025), suggesting a normalization but also a reduced margin of safety in short-term liquidity.
Overall, the data suggests that the company encountered volatility in its current asset base and liabilities amid evolving market or operational conditions. Periods of improved liquidity ratios indicate effective short-term financial management, although the decreasing current ratio near the end of the period warrants monitoring for potential liquidity constraints. The stabilization of current assets combined with a slight increase in current liabilities in recent quarters may require further analysis to ensure sustainable working capital sufficiency.
Quick Ratio
Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||
Trade receivables, net of reserves | |||||||||||||||||||||||||||||
Joint interest receivables | |||||||||||||||||||||||||||||
Total quick assets | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||
Quick ratio1 | |||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||
Chevron Corp. | |||||||||||||||||||||||||||||
ConocoPhillips | |||||||||||||||||||||||||||||
Exxon Mobil Corp. |
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Quick Assets
- The total quick assets exhibited notable fluctuations throughout the periods. Starting from 4,479 million USD at the end of Q1 2020, the value decreased sharply in Q2 2020 to 3,370 million USD, followed by a gradual recovery reaching 5,316 million USD by Q1 2021. A peak was observed in Q2 2021 at 7,857 million USD, subsequently followed by a decline and stabilization around the mid-5,000 to 7,000 million USD range through 2022. During 2023 and into the first half of 2024, quick assets showed a moderate decline reaching a low of 3,336 million USD in Q2 2023 but gradually increased again, reaching approximately 5,700 to 6,400 million USD in the latter part of 2024 and early 2025.
- Current Liabilities
- Current liabilities decreased from 11,963 million USD in Q1 2020 to a lower point of 8,223 million USD by Q4 2020. They then fluctuated within a narrower range, generally between 8,300 million USD and 9,800 million USD from 2021 through early 2025. A slight upward trend in liabilities was noted during mid-2023 through 2024, peaking near the 9,699 million USD level in Q4 2024 before a decrease to 8,564 million USD in Q2 2025. Overall, liabilities remained significant but showed relative stability compared to the initial periods.
- Quick Ratio
- The quick ratio improved substantially from 0.37 at the beginning of 2020 to a high of 0.84 by the end of 2021, indicating enhanced short-term liquidity relative to current liabilities. Post-2021, the quick ratio experienced volatility and a decline, reaching lows near 0.45 in mid-2023. Nevertheless, it showed gradual recovery from late 2023 onwards, improving steadily to 0.75 by mid-2025. The fluctuations suggest intermittent liquidity pressures but an overall positive trend in liquidity management in the most recent periods.
- Summary of Trends and Insights
- The data indicates a period of initial liquidity strain early in 2020, likely influenced by significant declines in quick assets and persistent high current liabilities. The subsequent increase in quick assets and the improvement in the quick ratio through 2021 signify a recovery phase and better short-term financial health. The ensuing fluctuations through 2022 and 2023 reflect transient liquidity challenges, with a partial drawdown in quick assets and a corresponding dip in the quick ratio. However, from late 2023 into 2025, there is a clear trend of liquidity improvement as quick assets rebound and the quick ratio climbs, despite stable levels of current liabilities. This suggests a strategic focus on enhancing liquid assets and managing short-term obligations more effectively over the medium term.
Cash Ratio
Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||
Total cash assets | |||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||
Cash ratio1 | |||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||
Chevron Corp. | |||||||||||||||||||||||||||||
ConocoPhillips | |||||||||||||||||||||||||||||
Exxon Mobil Corp. |
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The financial data reflects distinct trends in total cash assets, current liabilities, and the cash ratio over multiple quarters from March 2020 through June 2025. These elements exhibit periods of volatility and recovery in relation to each other.
- Total Cash Assets
- Total cash assets demonstrate significant fluctuations without a consistent upward or downward trend throughout the period. Starting at 2021 million USD in March 2020, cash assets decreased to a low around mid-2020, then peaked at 4569 million USD in June 2021, representing the highest liquidity level in the dataset. Subsequently, cash assets declined sharply in late 2021 and through 2022, reaching a low below 1000 million USD by December 2022. Early 2023 saw some recovery, with assets stabilizing and rising sporadically to end near 2326 million USD by June 2025. This overall pattern suggests varying cash management strategies, possibly reflecting changing operational needs or market conditions.
- Current Liabilities
- Current liabilities range between approximately 7.4 billion USD and 11.9 billion USD, showing moderate oscillation without a clear long-term trend. Notably, liabilities decreased from almost 12 billion USD in March 2020 to the mid-8 billion range by the end of 2020, indicating an effort to reduce short-term obligations during the initial phase. The level then increased again during 2021 through 2022 with intermittent fluctuations, but generally remained within a band between 8 billion and 10 billion USD. The final quarters show liabilities slightly trending downward, concluding at 8564 million USD in June 2025, which might suggest improved short-term debt management or repayment.
- Cash Ratio
- The cash ratio, defined as cash assets divided by current liabilities, presents a consistent volatility pattern in line with movements in cash assets and liabilities. The ratio started low at 0.17 in March 2020, dropped to 0.1 mid-2020, then peaked at 0.48 in June 2021, reflecting a relatively strong liquidity position. From late 2021 through 2022, the cash ratio decreased significantly, reaching lows near 0.07 in mid to late 2023, indicating weaker liquidity relative to obligations. However, from late 2023 onwards, the ratio showed improvement, moving steadily upward to about 0.27 by mid-2025. This improvement signals a gradual strengthening of liquidity over recent quarters but still indicates the company holds less than a 1:1 cash coverage over current liabilities.
Overall, the data indicates a period of liquidity strain through 2022 and early 2023, with efforts to bolster cash reserves and reduce liabilities apparent toward the latter part of the timeline. The oscillations suggest sensitivity to market or internal operational factors affecting short-term financial flexibility.