Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Current Valuation Ratios
Historical Valuation Ratios (Summary)
Price to Earnings (P/E)
Price to Operating Profit (P/OP)
Price to Sales (P/S)
Price to Book Value (P/BV)

Occidental Petroleum Corp., current price multiples

	Occidental Petroleum Corp.	Chevron Corp.	ConocoPhillips	EOG Resources Inc.	Exxon Mobil Corp.	Phillips 66	Oil & Gas Producers	Oil & Gas
Selected Financial Data
Current share price (P)	$44.57
No. shares of common stock outstanding	748,348,543
Growth rate (g)	3.80%

Earnings per share (EPS)	$5.52
Next year expected EPS	$5.73
Operating profit per share	$6.09
Sales per share	$23.82
Book value per share (BVPS)	$28.50
Ratios (Price Multiples)
Price to earnings (P/E)	8.07	14.83	9.13	12.89	13.87	7.92	12.49	13.27
Price to next year expected earnings	7.78	14.75	9.16	13.02	13.58	7.10	13.92	15.73
Price-earnings-growth (PEG)	2.13	27.33	—	—	6.68	0.69	—	—
Price to operating profit (P/OP)	7.32	15.22	6.53	9.86	13.06	8.59	11.56	11.77
Price to sales (P/S)	1.87	1.38	1.57	2.55	1.03	0.40	1.11	1.17
Price to book value (P/BV)	1.56	1.42	1.79	2.28	1.51	1.80	1.55	1.52

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

If company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.

Otherwise, if company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.

Occidental Petroleum Corp., historical price multiples

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Price to earnings (P/E)	12.08	39.87	—	—	99.82
Price to operating profit (P/OP)	10.96	95.05	—	—	—
Price to sales (P/S)	2.80	4.18	4.94	4.27	3.18
Price to book value (P/BV)	2.34	2.54	2.32	2.19	1.76

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).

Ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Occidental Petroleum Corp.’s P/E ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.
P/OP ratio	Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.	Occidental Petroleum Corp.’s P/OP ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Occidental Petroleum Corp.’s P/S ratio declined from 2016 to 2017 and from 2017 to 2018.
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return.	Occidental Petroleum Corp.’s P/BV ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.

Occidental Petroleum Corp., historical P/E calculation, comparison to benchmarks

	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
Selected Financial Data (USD $)
Net income (loss) attributable to common stock (in millions)	4,131	1,311	(574)	(7,829)	616
Earnings per share (EPS)²	5.51	1.71	-0.75	-10.25	0.80
Share price^1, 3	66.60	68.32	65.25	69.80	79.80
Ratio
P/E ratio⁴	12.08	39.87	—	—	99.82
Benchmarks
P/E Ratio, Competitors⁵
Chevron Corp.	15.30	22.83	—	35.02	10.61
ConocoPhillips	12.60	—	—	—	12.03
EOG Resources Inc.	15.93	23.96	—	—	17.93
Exxon Mobil Corp.	16.15	16.28	42.80	20.96	11.56
Phillips 66	7.92	9.01	26.19	9.99	8.83
P/E Ratio, Sector
Oil & Gas Producers	14.36	20.39	208.26	82.26	12.23
P/E Ratio, Industry
Oil & Gas	15.19	25.35	371.97	75.40	13.80

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 2018 Calculation
EPS = Net income (loss) attributable to common stock ÷ No. shares of common stock outstanding
= 4,131,000,000 ÷ 749,546,443 = 5.51

³ Close price on the filing date of Occidental Petroleum Corp.’s Annual Report.

⁴ 2018 Calculation
P/E ratio = Share price ÷ EPS
= 66.60 ÷ 5.51 = 12.08

⁵ Click competitor name to see calculations.

Ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Occidental Petroleum Corp.’s P/E ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.

Occidental Petroleum Corp., historical P/OP calculation, comparison to benchmarks

	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
Selected Financial Data (USD $)
Operating income (loss) (in millions)	4,556	550	(1,861)	(9,756)	(1,334)
Operating profit per share²	6.08	0.72	-2.43	-12.77	-1.73
Share price^1, 3	66.60	68.32	65.25	69.80	79.80
Ratio
P/OP ratio⁴	10.96	95.05	—	—	—
Benchmarks
P/OP Ratio, Competitors⁵
Chevron Corp.	15.70	84.64	—	—	10.35
ConocoPhillips	9.00	—	—	—	11.84
EOG Resources Inc.	12.19	66.80	—	—	9.97
Exxon Mobil Corp.	15.21	26.58	358.52	26.28	11.03
Phillips 66	8.58	26.68	40.09	9.54	13.31
P/OP Ratio, Sector
Oil & Gas Producers	13.29	57.68	—	—	12.06
P/OP Ratio, Industry
Oil & Gas	13.48	57.07	—	—	12.65

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 2018 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= 4,556,000,000 ÷ 749,546,443 = 6.08

³ Close price on the filing date of Occidental Petroleum Corp.’s Annual Report.

⁴ 2018 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 66.60 ÷ 6.08 = 10.96

⁵ Click competitor name to see calculations.

Ratio	Description	The company
P/OP ratio	Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.	Occidental Petroleum Corp.’s P/OP ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.

Occidental Petroleum Corp., historical P/S calculation, comparison to benchmarks

	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
Selected Financial Data (USD $)
Net sales (in millions)	17,824	12,508	10,090	12,480	19,312
Sales per share²	23.78	16.35	13.20	16.34	25.06
Share price^1, 3	66.60	68.32	65.25	69.80	79.80
Ratio
P/S ratio⁴	2.80	4.18	4.94	4.27	3.18
Benchmarks
P/S Ratio, Competitors⁵
Chevron Corp.	1.43	1.56	1.91	1.24	1.02
ConocoPhillips	2.16	2.21	2.51	1.38	1.57
EOG Resources Inc.	3.15	5.52	7.38	4.30	2.90
Exxon Mobil Corp.	1.20	1.35	1.54	1.30	0.95
Phillips 66	0.40	0.45	0.48	0.43	0.26
P/S Ratio, Sector
Oil & Gas Producers	1.27	1.43	1.66	1.25	0.97
P/S Ratio, Industry
Oil & Gas	1.33	1.58	1.86	1.34	1.11

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 2018 Calculation
Sales per share = Net sales ÷ No. shares of common stock outstanding
= 17,824,000,000 ÷ 749,546,443 = 23.78

³ Close price on the filing date of Occidental Petroleum Corp.’s Annual Report.

⁴ 2018 Calculation
P/S ratio = Share price ÷ Sales per share
= 66.60 ÷ 23.78 = 2.80

⁵ Click competitor name to see calculations.

Ratio	Description	The company
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Occidental Petroleum Corp.’s P/S ratio declined from 2016 to 2017 and from 2017 to 2018.

Occidental Petroleum Corp., historical P/BV calculation, comparison to benchmarks

	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
Selected Financial Data (USD $)
Stockholders’ equity (in millions)	21,330	20,572	21,497	24,350	34,959
Book value per share (BVPS)²	28.46	26.89	28.13	31.88	45.37
Share price^1, 3	66.60	68.32	65.25	69.80	79.80
Ratio
P/BV ratio⁴	2.34	2.54	2.32	2.19	1.76
Benchmarks
P/BV Ratio, Competitors⁵
Chevron Corp.	1.47	1.42	1.44	1.05	1.32
ConocoPhillips	2.47	2.10	1.70	1.02	1.59
EOG Resources Inc.	2.81	3.80	4.04	2.91	2.95
Exxon Mobil Corp.	1.75	1.71	2.01	1.98	2.16
Phillips 66	1.80	1.83	1.82	1.83	1.95
P/BV Ratio, Sector
Oil & Gas Producers	1.78	1.76	1.85	1.59	1.80
P/BV Ratio, Industry
Oil & Gas	1.74	1.81	1.91	1.60	1.92

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 2018 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 21,330,000,000 ÷ 749,546,443 = 28.46

³ Close price on the filing date of Occidental Petroleum Corp.’s Annual Report.

⁴ 2018 Calculation
P/BV ratio = Share price ÷ BVPS
= 66.60 ÷ 28.46 = 2.34

⁵ Click competitor name to see calculations.

Ratio	Description	The company
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return.	Occidental Petroleum Corp.’s P/BV ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.

Occidental Petroleum Corp. (OXY)

Common Stock Valuation Ratios (Price Multiples)

Current Valuation Ratios

Historical Valuation Ratios (Summary)

Price to Earnings (P/E)

Price to Operating Profit (P/OP)

Price to Sales (P/S)

Price to Book Value (P/BV)