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Occidental Petroleum Corp. (OXY)


Enterprise Value (EV)

Difficulty: Intermediate


Current Enterprise Value (EV)

Occidental Petroleum Corp., current enterprise value calculation

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Current share price (P) $ 67.26
No. shares of common stock outstanding 749,546,443
USD $ in millions
Common equity (market value) 50,414 
Total equity 50,414 
Add: Current maturities of long-term debt (per books) 116 
Add: Long-term debt, net, excluding current maturities (per books) 10,201 
Total equity and debt 60,731 
Less: Cash and cash equivalents 3,033 
Less: Restricted cash – 
Enterprise value (EV) 57,698 

Based on: 10-K (filing date: 2019-02-21).


Historical Enterprise Value (EV)

Occidental Petroleum Corp., EV calculation

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
No. shares of common stock outstanding1 749,546,443 765,148,694 764,291,301 763,845,316 770,550,364
Share price1, 2 (USD $) 66.60 68.32 65.25 69.80 79.80
USD $ in millions
Common equity (market value) 49,920  52,275  49,870  53,316  61,490 
Total equity 49,920  52,275  49,870  53,316  61,490 
Add: Current maturities of long-term debt (per books) 116  500  –  1,450  – 
Add: Long-term debt, net, excluding current maturities (per books) 10,201  9,328  9,819  6,883  6,838 
Total equity and debt 60,237  62,103  59,689  61,649  68,328 
Less: Cash and cash equivalents 3,033  1,672  2,233  3,201  3,789 
Less: Restricted cash –  –  –  1,193  4,019 
Enterprise value (EV) 57,204  60,431  57,456  57,255  60,520 

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-23).

1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Occidental Petroleum Corp.’s Annual Report.

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Occidental Petroleum Corp.’s EV increased from 2016 to 2017 but then declined significantly from 2017 to 2018.