Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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Profitability Ratios (Summary)
Occidental Petroleum Corp., profitability 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).
- Operating profit margin
- The operating profit margin demonstrates a marked recovery beginning from the quarter ending December 31, 2020, where it was -79.89%. It improved steadily through 2021, transitioning from negative to positive territory, reaching 38.32% by December 31, 2022. This upward trend suggests enhanced operational efficiency or improved revenue generation relative to operating costs. However, from early 2023 onward, the margin exhibits a gradual decline, decreasing to 15.64% by June 30, 2025, indicating potential emerging pressures on operating profitability or increased costs.
- Net profit margin
- The net profit margin closely follows the trajectory of the operating profit margin, starting from deeply negative levels at -83.28% in December 31, 2020. It entered positive territory in early 2021, peaking at 36.32% in December 31, 2022. From 2023, the net margin decreases steadily, falling to 8.84% by June 30, 2025. This pattern indicates that although profitability improved substantially post-2020, challenges have emerged that affected overall net profitability, possibly due to factors beyond operating performance such as taxes, interest, or extraordinary items.
- Return on equity (ROE)
- The ROE follows a similar recovery pattern, improving from -79.85% in December 31, 2020, to a high of 44.97% in December 31, 2022, reflecting strong returns to shareholders during this period. After peaking, ROE declines noticeably through 2023 and into 2025, reaching 6.72% by June 30, 2025. This decline suggests diminishing efficiency in generating profits from equity, possibly correlated with reduced net margins and underlying profitability challenges.
- Return on assets (ROA)
- The ROA also improves significantly from a low point of -18.52% in December 31, 2020, to a peak of 18.32% by December 31, 2022. Subsequently, ROA undergoes a gradual decrease to 2.84% by June 30, 2025. This indicates a reduced ability to efficiently utilize assets to generate earnings, consistent with the downturn in profit margins and return on equity identified in later periods.
Return on Sales
Return on Investment
Operating Profit Margin
Occidental Petroleum Corp., operating profit margin 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) | |||||||||||||||||||||||||||||
| Operating income (loss) | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, 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
Operating profit margin = 100
× (Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024)
÷ (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data exhibits significant fluctuations across the periods analyzed, reflecting diverse operational and market conditions.
- Operating Income (Loss)
- The operating income demonstrates a marked improvement from a substantial loss in early 2020, peaking positively in the 2022 quarters. Initially, the company experienced large negative values, reaching a low of -7991 million US dollars in June 2020. From 2021 onward, a consistent recovery trend is observed, with operating income rising steadily and reaching peaks above 3000 million US dollars in the first quarter of 2022. After peaking, the operating income shows some volatility but maintains positive figures throughout, ranging between approximately 5 million and 1933 million US dollars in 2023 and experiencing a decline towards the end of the series in 2024 and 2025, though still staying positive overall.
- Net Sales
- Net sales display an increasing trend with some variations. Starting from a lower base in early 2020, sales rose steadily throughout 2021 and 2022, hitting a high of around 10,676 million US dollars in the second quarter of 2022. After this peak, sales values slightly declined but remained relatively stable with minor fluctuations, generally staying above 6,000 million US dollars. The trend indicates recovery and growth in sales volumes or prices post the initial pandemic impact period.
- Operating Profit Margin (%)
- The operating profit margin shifted from strongly negative values in 2020, with margins close to -80% at the onset, to positive territory in 2021 and beyond. Margins improved dramatically throughout 2021, rising from negative percentages to exceed 30% by the end of 2021 and early 2022. Although the margin declined somewhat after the peak in early 2022, it remained robust, stabilizing in the range of 15% to nearly 25% over the subsequent quarters, indicating improved operational efficiency and profitability relative to revenues despite some volatility.
Overall, the data indicates a transition from heavy operating losses to sustained profitability, supported by increased net sales and improved operating margins. The period analyzed shows resilience and recovery, with the most challenging phases in the first half of 2020 followed by progressive improvement and stabilization in financial performance through 2025.
Net Profit Margin
Occidental Petroleum Corp., net profit margin 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 income (loss) attributable to Occidental | |||||||||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, 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 profit margin = 100
× (Net income (loss) attributable to OccidentalQ2 2025
+ Net income (loss) attributable to OccidentalQ1 2025
+ Net income (loss) attributable to OccidentalQ4 2024
+ Net income (loss) attributable to OccidentalQ3 2024)
÷ (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income (Loss) Attributable to Occidental
- The net income exhibits considerable volatility over the analyzed quarters. The period from March 31, 2020, through December 31, 2020, is marked by significant losses, with the largest loss recorded in June 30, 2020, at -8,131 million US dollars. Starting March 31, 2021, the company transitions into profitability, with net income progressively increasing and peaking at 4,876 million US dollars on March 31, 2022. Following this peak, net income trends downward with fluctuations, decreasing to values near or below 1,000 million US dollars toward the end of 2024 and early 2025. Notably, there is a brief negative figure again on March 31, 2025 (-127 million US dollars), suggesting renewed challenges.
- Net Sales
- Net sales generally show an upward trend from March 31, 2020, to June 30, 2022, rising from 6,613 million US dollars to a peak of 10,676 million US dollars. This growth indicates improving revenue generation following a weaker start in early 2020. However, from June 30, 2022, onward, net sales demonstrate a declining pattern with some modest recoveries, fluctuating between approximately 5,975 and 7,200 million US dollars. This decline continues through the end of the period, dropping to 6,414 million US dollars by June 30, 2025.
- Net Profit Margin
- Profit margin data begins from the third quarter of 2020 and initially reflects very negative margins, with values as low as -83.28% and -78.62%. Moving into 2021, margins improve markedly, turning positive by mid-year and steadily increasing through 2022, reaching a high of 36.32% by December 31, 2022. Starting in 2023, the margin sustains a positive level but shows a gradual decline, moving from the high twenties and mid-teens to single digits by mid-2025. This pattern suggests a cycle of recovery followed by margin compression.
- Overall Observations
- The data reveals a recovery phase that follows a period of significant losses coinciding with early 2020. Revenue growth leads net income and profit margin improvement through early 2022. However, after peaking, both sales and profitability face downward pressure, which may indicate market headwinds, operational challenges, or external economic factors impacting performance. The return to a negative net income position by the first quarter of 2025, paired with declining sales and margins, suggests potential risks that require attention.
Return on Equity (ROE)
Occidental Petroleum Corp., ROE 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 income (loss) attributable to Occidental | |||||||||||||||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, 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
ROE = 100
× (Net income (loss) attributable to OccidentalQ2 2025
+ Net income (loss) attributable to OccidentalQ1 2025
+ Net income (loss) attributable to OccidentalQ4 2024
+ Net income (loss) attributable to OccidentalQ3 2024)
÷ Stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Income (Loss) Attributable to Occidental
- The net income exhibited significant volatility during the observed period. Initially, the company recorded substantial losses in early 2020, hitting a low point of -8,131 million USD in the second quarter of 2020. This negative trend gradually improved over the remainder of 2020 and into 2021, transitioning into positive territory by the third quarter of 2021. Earnings peaked in the first quarter of 2022 at 4,876 million USD, followed by a gradual decline in profitability through 2023. The latter part of the timeline shows alternating fluctuations with some quarters demonstrating recovery, while the first quarter of 2025 records a negative net income of -127 million USD before rebounding in subsequent quarters.
- Stockholders’ Equity
- Stockholders' equity demonstrated an overall increasing trend across the entire period. It started at 31,295 million USD at the end of the first quarter of 2020, declined through 2020 reaching a low of 18,244 million USD in the second quarter of 2021, and then steadily increased thereafter. By the end of 2022, equity rose to 30,085 million USD and continued a consistent upward trajectory, reaching 35,722 million USD in the second quarter of 2025, indicating strengthening financial stability.
- Return on Equity (ROE)
- ROE data beginning from the third quarter of 2020 showed very negative returns, with a low near -80% in that quarter, reflecting the severe losses incurred. This metric improved consistently through 2021, turning positive in the third quarter of 2021 and reaching its peak of approximately 45% in the last quarter of 2021. After this peak, ROE gradually declined over the succeeding years but remained positive, fluctuating between approximately 6.7% and 32.8%. This pattern suggests the company moved from heavy losses to high profitability, followed by a return to more moderate but positive returns on equity.
- Summary of Trends and Insights
- The data reveals a period of substantial financial distress in early 2020, characterized by large net losses, reduced equity, and highly negative ROE. Recovery commenced mid-2020, with the company achieving profitability by late 2021 and correspondingly strong ROE values. Equity followed a similar recovery path from troughs in 2021 to steady gains through mid-2025, reflecting capital strengthening. While net income and ROE declined from their late 2021 peaks, they have maintained positive levels, indicating ongoing profitability despite volatility. The intermittent negative net income in early 2025 suggests some renewed operational or market challenges, though the strong equity base may provide resilience.
Return on Assets (ROA)
Occidental Petroleum Corp., ROA 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 income (loss) attributable to Occidental | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, 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
ROA = 100
× (Net income (loss) attributable to OccidentalQ2 2025
+ Net income (loss) attributable to OccidentalQ1 2025
+ Net income (loss) attributable to OccidentalQ4 2024
+ Net income (loss) attributable to OccidentalQ3 2024)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The net income attributable to the company shows significant volatility over the observed periods. Initially, the company experienced substantial losses, peaking at a loss of -8,131 million USD in the second quarter of 2020. This was followed by a recovery trend, with net income turning positive in the third quarter of 2021 and reaching a peak of 4,876 million USD in the first quarter of 2022. After this peak, net income generally declined, displaying fluctuations around a lower range, including a notable dip to -127 million USD in the first quarter of 2025, before recovering again to 936 million USD and then 458 million USD in subsequent quarters.
Total assets exhibited a declining trend from the first quarter of 2020 through the fourth quarter of 2022, decreasing from 101,643 million USD down to approximately 72,609 million USD. From 2023 onward, total assets remained relatively stable, fluctuating modestly around the mid-70,000 million USD range. In the final observed periods, total assets showed a slight upward trend, reaching 85,445 million USD in the second quarter of 2025, although this was followed by a minor decrease to 84,360 million USD by the third quarter of 2025.
The return on assets (ROA) data begins from the third quarter of 2020. During this period, the ROA was significantly negative, reaching -18.52% and -16.34% in the third and fourth quarters of 2020, respectively. From the first quarter of 2021 onward, ROA improved steadily and turned positive by the third quarter of 2021. It reached peak levels of approximately 18.32% by the first quarter of 2022, coinciding with the peak in net income. After this peak, ROA gradually declined over time, stabilizing at lower positive values ranging between approximately 2.84% and 6.07% through the subsequent years, showing that profitability relative to asset base normalized to a moderate level.
- Net Income Trends
- Severe losses in early 2020 were followed by recovery and profitability from late 2021 through early 2022, with peak profitability in Q1 2022. Subsequent quarters saw fluctuating net income with a downward tendency and occasional negative values.
- Total Assets Trends
- Assets declined steadily from 2020 through late 2022, then stabilized with minor fluctuations and a moderate increase toward mid-2025.
- Return on Assets (ROA) Trends
- ROA was strongly negative in 2020 but improved significantly by 2021, peaking in early 2022 before tapering to moderate positive levels in subsequent years.
Overall, the financial data reflect a period of initial financial stress and asset reduction, followed by recovery with improved profitability and stabilization of assets. The near-term decline in net income and ROA after early 2022 suggests challenges in maintaining peak performance levels. However, the asset base shows signs of modest growth, indicating potential for renewed operational stability.