Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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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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Long-term Activity Ratios (Summary)
Occidental Petroleum Corp., long-term (investment) activity ratios (quarterly data)
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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio was first reported in the quarter ending March 31, 2021, at 0.27 and showed a generally increasing trend through the end of 2022, peaking at 0.63 in the March 31, 2023 quarter. Thereafter, it gradually declined through 2025, reaching approximately 0.40 by the June 30, 2025 quarter. This indicates an initial improvement in the efficiency of using fixed assets to generate sales, followed by a moderation in asset utilization efficiency in the later periods.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- This metric closely parallels the standard net fixed asset turnover ratio, starting at 0.27 in March 31, 2021, rising to a peak of 0.62 in March 31, 2023, and then declining to around 0.39 by mid-2025. The close similarity between the two measures suggests that operating leases and right-of-use assets have a consistent impact on the fixed asset efficiency over time, reinforcing the observed pattern of initial improvement followed by a gradual decrease.
- Total Asset Turnover
- Total asset turnover also commenced reporting in the March 31, 2021 quarter with a value of 0.22. It exhibited an upward trajectory, reaching 0.50 during 2022 and maintaining that level into the early part of 2023. Subsequently, total asset turnover experienced a steady decline to about 0.32 by mid-2025. This trend signifies initial gains in overall asset productivity that later tapered off, mirroring the behavior seen in fixed asset turnover ratios but at a lower overall turnover level.
- Equity Turnover
- Equity turnover demonstrated higher starting values relative to other turnover ratios, beginning at 0.96 in March 31, 2021. The ratio increased through late 2021 and early 2022, peaking at 1.28 in March 31, 2022. After this peak, equity turnover gradually decreased to approximately 0.76 by the second quarter of 2025. This reflects a period of intensified utilization of equity to generate sales or revenues, followed by a progressive reduction in this efficiency over subsequent quarters.
Net Fixed Asset Turnover
Occidental Petroleum Corp., net fixed asset turnover calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Property, plant and equipment, net | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, 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
Net fixed asset turnover
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales experienced significant fluctuations across the periods. There was a marked decline from March 31, 2020 (6,613 million USD) to June 30, 2020 (2,928 million USD), likely reflecting external adverse conditions. Subsequently, sales generally trended upward through to December 31, 2021, peaking at 7,913 million USD. In 2022, net sales continued to rise sharply reaching 10,676 million USD in June, before showing volatility and a gradual decrease toward the end of 2022 and into early 2023. From mid-2023 onward, net sales decreased overall, reaching a lower point of 5,975 million USD in March 2024, then partially recovering to the 6,400-7,100 million USD range in subsequent quarters through mid-2025.
- Property, Plant and Equipment, Net
- The net value of property, plant, and equipment showed a consistent and gradual decline from 79,073 million USD in March 2020 to 58,270 million USD by March 2023. This decline suggests ongoing asset depreciation, disposals, or a lack of significant capital expenditure. From mid-2023 to late 2024, the figure remained relatively stable around the mid-58,000 million USD level. However, there was a significant increase starting in late 2024, peaking at approximately 69,378 million USD in June 2025, before showing a slight reduction by the end of that period. This pattern indicates renewed investment or asset acquisitions late in the observed timeframe.
- Net Fixed Asset Turnover Ratio
- Data for the net fixed asset turnover ratio begins in September 2020, initially low at 0.27 and decreasing slightly to 0.26 in December 2020. The ratio then increased progressively through 2021, reaching a peak of 0.63 in December 2021, indicating improving efficiency in utilizing fixed assets to generate sales during that period. In 2022 and early 2023, the ratio remained relatively stable at about 0.60 to 0.63 but then exhibited a gradual decline through 2023 and into 2024, falling to approximately 0.39 by March 2025. This decline points to a decreasing efficiency in asset utilization in later periods, possibly due to rising asset bases or fluctuating sales.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Occidental Petroleum Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
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
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ( + + + )
÷ =
- Net Sales
- The net sales figures demonstrate considerable volatility over the periods analyzed. Starting at 6,613 million USD in the first quarter of 2020, sales dropped sharply to 2,928 million USD in the subsequent quarter, indicating a significant decline likely due to external market disruptions. From mid-2020 onwards, a steady recovery is observed, with net sales rising progressively to peak near 10,676 million USD by mid-2022. However, after this peak, sales show a declining trend through 2023 and the first half of 2024, fluctuating between approximately 5,975 million USD to 7,173 million USD. The latest quarters reveal a mild decrease, suggesting either market stabilization at a lower level or renewed challenges affecting sales volumes or pricing.
- Property, Plant and Equipment, Net
- The net property, plant, and equipment asset base exhibits a gradual declining trend from 80,266 million USD at the start of 2020 to roughly 59,000 million USD throughout most of 2022 and early 2023, reflecting either asset disposals, depreciation, or reduced capital expenditure programs. Notably, beginning in late 2023 and continuing into 2024, there is a marked increase in asset values, reaching above 70,000 million USD in 2024 before a slight dip towards the most recent data points. This upward shift may suggest increased investment in fixed assets or capital expansion initiatives resuming after a period of contraction.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio initiates at relatively low levels in 2020, around 0.25 to 0.27, indicating modest sales generation relative to fixed asset investments. From late 2020 through early 2023, there is a clear upward trajectory, peaking near 0.62, signaling improved efficiency in utilizing fixed assets to generate revenue. Post-peak, the ratio declines steadily to approximately 0.39 by mid-2025, suggesting that asset growth outpaced sales increases or that sales efficiency decreased in recent quarters. This declining turnover ratio aligns temporally with the recent increase in fixed asset values, implying potential overcapacity or delayed revenue realization from new investments.
Total Asset Turnover
Occidental Petroleum Corp., total asset turnover calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Total Asset Turnover, 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
Total asset turnover
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- The net sales exhibit a fluctuating but generally increasing trend from March 31, 2020, through June 30, 2025. Initially, net sales dropped significantly from 6,613 million USD in March 2020 to 2,928 million USD in June 2020, reflecting a sharp decline. Subsequently, there was a recovery and upward movement, peaking at 10,676 million USD in June 2022. Following this peak, net sales declined again, stabilizing around 6,800 million USD toward the end of the period in 2025. Overall, the pattern suggests volatility, with a notable rebound in sales through 2021 into mid-2022, followed by a correction and relative stabilization at a level higher than early 2020.
- Total Assets
- Total assets show a steady decline from 101,643 million USD in March 2020 to approximately 71,600 million USD by March 2023. This downward trend indicates a reduction in asset base over the three-year period. From mid-2023 onward, total assets stabilized around the 74,000 to 85,000 million USD range, with a slight upward trend especially notable by the end of 2024, peaking near 85,445 million USD in mid-2025 before a marginal decrease toward the end of the period. This pattern suggests an initial contraction of assets, followed by a period of consolidation and gradual asset accumulation.
- Total Asset Turnover Ratio
- The total asset turnover ratio starts from a low of 0.22 in September 2020 and demonstrates an improving trend through December 2022, reaching 0.5. This indicates an increasing efficiency in utilizing assets to generate sales during this period. However, after that peak, the ratio declines gradually to approximately 0.31-0.32 by mid-2025. This suggests a moderation in asset efficiency after the initial improvement, aligning with the stabilization phase observed in asset and sales figures. The rising and then declining pattern reflects a cycle of operational efficiency improving significantly before tapering off toward a balanced level.
- Overall Insights
- The data reflect significant impacts likely related to external conditions causing a sharp decrease in sales and assets early in the analyzed period. Recovery phases are evident, particularly in net sales and total asset turnover, which improve considerably before leveling off. The initial decline in total assets and subsequent stabilization implies a strategic adjustment or restructuring of the asset base. The interplay of rising net sales and improving asset turnover suggests successful efforts to enhance operational efficiency, though this efficiency gain experiences a tempering in later periods. The overall financial patterns indicate resilience with adaptation to changing market conditions over time.
Equity Turnover
Occidental Petroleum Corp., equity turnover calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Equity Turnover, 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
Equity turnover
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ Stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales experienced a significant decline in early 2020, dropping from 6,613 million USD in March 2020 to a low of 2,928 million USD in June 2020. This was followed by a gradual recovery throughout late 2020 and into 2021, with sales increasing steadily and peaking at 10,676 million USD in June 2022. Subsequently, net sales showed volatility, decreasing in the second half of 2022 and the first quarter of 2023, before fluctuating between approximately 6,400 million USD and 7,200 million USD from mid-2023 onwards. The overall trend indicates recovery from the initial 2020 decline, a peak in mid-2022, and relative stabilization with some fluctuations thereafter.
- Stockholders’ Equity
- Stockholders' equity showed a marked decline from 31,295 million USD in March 2020 to 18,300 million USD by March 2021, reflecting significant erosion of equity during that period. After this low point, equity increased consistently throughout 2021 and beyond, reaching 30,250 million USD by December 2021 and continuing its upward trend to 35,722 million USD by June 2025. This suggests a strong recovery and growth in the company’s net assets over the longer term following the initial downturn.
- Equity Turnover
- Equity turnover data, available from September 2020 onward, began at 0.96, then declined slightly to 0.90 in June 2021 before rising steadily to a peak of 1.28 in March 2022. Following this peak, equity turnover remained relatively stable around the 1.16 to 1.26 range through late 2022 and early 2023. However, from mid-2023 forward, there is a clear downward trend, with equity turnover decreasing consistently to 0.76 by June 2025. This indicates that the efficiency with which the company is generating sales from its equity has weakened over the most recent periods despite prior improvements.