Enterprise Value (EV)
Current Enterprise Value (EV)
Occidental Petroleum Corp., current enterprise value calculation
| Current share price (P) | $42.54 |
| No. shares of common stock outstanding | 984,439,742 |
| US$ in millions | |
| Common equity (market value)1 | 41,878) |
| Add: Preferred stock, at $1.00 per share par value (per books) | 8,287) |
| Add: Noncontrolling interest (per books) | 321) |
| Total equity | 50,486) |
| Add: Current maturities of long-term debt (per books) | 1,138) |
| Add: Long-term debt, net, excluding current maturities (per books) | 24,978) |
| Total equity and debt | 76,602) |
| Less: Cash and cash equivalents | 2,132) |
| Enterprise value (EV) | 74,470) |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 42.54 × 984,439,742
Historical Enterprise Value (EV)
Occidental Petroleum Corp., EV calculation
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Occidental Petroleum Corp. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 48.84 × 938,500,965
The financial trajectory between 2020 and 2024 indicates a period of significant expansion peaking in 2022, followed by a moderate contraction and subsequent stabilization of the overall corporate valuation.
- Enterprise Value (EV) Trends
- Enterprise value exhibited a consistent upward trajectory from 2020 to 2022, rising from 68,728 million to a peak of 81,681 million. Following this peak, a decline occurred in 2023 to 77,093 million, before recovering slightly to 78,428 million by the end of 2024. This suggests that while the company experienced a valuation surge mid-period, the enterprise value has since settled into a stable range.
- Equity Market Value Volatility
- The market value of common equity demonstrated the highest degree of volatility among the analyzed metrics. A substantial increase is observed from 2020 to 2022, where value grew from 24,789 million to 53,068 million. This growth was reversed in the subsequent two years, with market value declining to 45,836 million by December 31, 2024, indicating a reduction in market sentiment or a correction in share pricing relative to the 2022 peak.
- Total Equity and Book Value Analysis
- Total equity mirrored the trend of market value, increasing from 34,551 million in 2020 to a high of 62,830 million in 2022. The subsequent decline to 54,444 million by 2024 suggests a reduction in the book value of equity, which may be attributed to changes in retained earnings, asset write-downs, or capital redistribution.
- Total Equity and Debt Correlation
- The combined value of total equity and debt remained relatively more stable than equity alone, peaking at 82,665 million in 2022. The close proximity between the total equity and debt figure and the Enterprise Value across all periods suggests a consistent capital structure where net debt remains a primary component of the total valuation calculation.
Overall, the period is characterized by a valuation cycle that culminated in 2022. The subsequent decline in both market and book equity, contrasted with a more stable enterprise value, indicates that the company's total valuation has remained more resilient than its equity-specific components.
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