Stock Analysis on Net

Occidental Petroleum Corp. (NYSE:OXY)

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Analysis of Solvency Ratios

Microsoft Excel

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Solvency Ratios (Summary)

Occidental Petroleum Corp., solvency ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Occidental Petroleum Corp. debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Occidental Petroleum Corp. debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Occidental Petroleum Corp. debt to capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Occidental Petroleum Corp. debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Occidental Petroleum Corp. debt to assets ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Occidental Petroleum Corp. debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Occidental Petroleum Corp. financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Occidental Petroleum Corp. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Occidental Petroleum Corp. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Equity

Occidental Petroleum Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, net, excluding current maturities
Total debt
 
Stockholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Debt to Equity, Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Occidental Petroleum Corp. debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Debt to Equity (including Operating Lease Liability)

Occidental Petroleum Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, net, excluding current maturities
Total debt
Current operating lease liabilities
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
 
Stockholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Debt to Equity (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Occidental Petroleum Corp. debt to equity ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Debt to Capital

Occidental Petroleum Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, net, excluding current maturities
Total debt
Stockholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Debt to Capital, Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Occidental Petroleum Corp. debt to capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Debt to Capital (including Operating Lease Liability)

Occidental Petroleum Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, net, excluding current maturities
Total debt
Current operating lease liabilities
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
Stockholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Debt to Capital (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Occidental Petroleum Corp. debt to capital ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Debt to Assets

Occidental Petroleum Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, net, excluding current maturities
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Debt to Assets, Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Occidental Petroleum Corp. debt to assets ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Debt to Assets (including Operating Lease Liability)

Occidental Petroleum Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current maturities of long-term debt
Long-term debt, net, excluding current maturities
Total debt
Current operating lease liabilities
Noncurrent operating lease liabilities
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Debt to Assets (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Occidental Petroleum Corp. debt to assets ratio (including operating lease liability) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Financial Leverage

Occidental Petroleum Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Total assets
Stockholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Financial Leverage, Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Occidental Petroleum Corp. financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.

Interest Coverage

Occidental Petroleum Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Occidental
Add: Net income attributable to noncontrolling interest
Less: Loss from discontinued operations, net of tax
Add: Income tax expense
Add: Interest and debt expense, net
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Interest Coverage, Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Occidental Petroleum Corp. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Fixed Charge Coverage

Occidental Petroleum Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
United States federal statutory tax rate
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Occidental
Add: Net income attributable to noncontrolling interest
Less: Loss from discontinued operations, net of tax
Add: Income tax expense
Add: Interest and debt expense, net
Earnings before interest and tax (EBIT)
Add: Operating lease costs
Earnings before fixed charges and tax
 
Interest and debt expense, net
Operating lease costs
Preferred stock dividends
Preferred stock dividends, tax adjustment1
Preferred stock dividends, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Competitors3
Chevron Corp.
ConocoPhillips
Devon Energy Corp.
Exxon Mobil Corp.
Marathon Oil Corp.
Marathon Petroleum Corp.
Pioneer Natural Resources Co.
Valero Energy Corp.
Fixed Charge Coverage, Sector
Oil, Gas & Consumable Fuels

Based on: 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).

1 2021 Calculation
Preferred stock dividends, tax adjustment = (Preferred stock dividends × United States federal statutory tax rate) ÷ (1 − United States federal statutory tax rate)
= ( × ) ÷ (1 − ) =

2 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

3 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Occidental Petroleum Corp. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.