Occidental Petroleum Corp., current enterprise value calculation

Current share price (P)	$40.35
No. shares of common stock outstanding	938,500,965
US$ in millions
Common equity (market value)¹	37,869)
Add: Preferred stock, at $1.00 per share par value (per books)	8,287)
Add: Noncontrolling interest (per books)	321)
Total equity	46,477)
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	72,593)
Less: Cash and cash equivalents	2,132)
Enterprise value (EV)	70,461)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 40.35 × 938,500,965

Occidental Petroleum Corp., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$48.84	$57.30	$58.96	$38.92	$26.61
No. shares of common stock outstanding¹	938,500,965	879,499,439	900,072,447	934,063,989	931,554,718
US$ in millions
Common equity (market value)³	45,836)	50,395)	53,068)	36,354)	24,789)
Add: Preferred stock, at $1.00 per share par value (book value)	8,287)	8,287)	9,762)	9,762)	9,762)
Add: Noncontrolling interest (book value)	321)	99)	—)	—)	—)
Total equity	54,444)	58,781)	62,830)	46,116)	34,551)
Add: Current maturities of long-term debt (book value)	1,138)	1,202)	165)	186)	440)
Add: Long-term debt, net, excluding current maturities (book value)	24,978)	18,536)	19,670)	29,431)	35,745)
Total equity and debt	80,560)	78,519)	82,665)	75,733)	70,736)
Less: Cash and cash equivalents	2,132)	1,426)	984)	2,764)	2,008)
Enterprise value (EV)	78,428)	77,093)	81,681)	72,969)	68,728)

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

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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. EV decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

Occidental Petroleum Corp. (NYSE:OXY)

Enterprise Value (EV)