Stock Analysis on Net

Occidental Petroleum Corp. (NYSE:OXY)

Common Stock Valuation Ratios (Price Multiples)

Microsoft Excel

Current Valuation Ratios

Occidental Petroleum Corp., current price multiples

Microsoft Excel
Occidental Petroleum Corp. Chevron Corp. ConocoPhillips Exxon Mobil Corp. Marathon Petroleum Corp. Pioneer Natural Resources Co. Valero Energy Corp. Oil, Gas & Consumable Fuels Energy
Selected Financial Data
Current share price (P) $64.20
No. shares of common stock outstanding 879,499,439
Growth rate (g) -7.08%
 
Earnings per share (EPS) $4.29
Next year expected EPS $3.99
Operating profit per share $7.78
Sales per share $32.13
Book value per share (BVPS) $34.39
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 14.97 13.59 13.62 12.67 7.35 12.41 6.32 11.93 12.22
Price to next year expected earnings 16.11 13.73 12.38 12.25 6.80 11.87 6.01 11.53 12.00
Price to operating profit (P/OP) 8.25 9.59 8.69 8.39 4.90 9.30 4.71 8.06 8.29
Price to sales (P/S) 2.00 1.47 2.66 1.36 0.48 3.14 0.39 1.23 1.27
Price to book value (P/BV) 1.87 1.80 3.03 2.23 2.92 2.62 2.12 2.20 2.26

Based on: 10-K (reporting date: 2023-12-31).

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


Historical Valuation Ratios (Summary)

Occidental Petroleum Corp., historical price multiples

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Price to earnings (P/E) 13.36 4.24 23.89
Price to operating profit (P/OP) 7.37 3.78 7.96 45.37
Price to sales (P/S) 1.78 1.45 1.40 1.39 1.44
Price to book value (P/BV) 1.67 1.76 1.79 1.33 0.86

Based on: 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), 10-K (reporting date: 2019-12-31).

Valuation 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. P/E ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
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. P/OP ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 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. P/S ratio increased from 2021 to 2022 and from 2022 to 2023.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Occidental Petroleum Corp. P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023.

Price to Earnings (P/E)

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 879,499,439 900,072,447 934,063,989 931,554,718 895,224,961
Selected Financial Data (US$)
Net income (loss) attributable to common stockholders (in millions) 3,773 12,504 1,522 (15,675) (985)
Earnings per share (EPS)2 4.29 13.89 1.63 -16.83 -1.10
Share price1, 3 57.30 58.96 38.92 26.61 32.74
Valuation Ratio
P/E ratio4 13.36 4.24 23.89
Benchmarks
P/E Ratio, Competitors5
Chevron Corp. 13.42 8.71 16.81 70.06
ConocoPhillips 11.92 7.07 14.66 8.77
Exxon Mobil Corp. 11.49 8.01 14.11 15.64
Marathon Petroleum Corp. 6.24 3.85 4.32 11.68
Pioneer Natural Resources Co. 11.17 6.14 25.60 29.80
Valero Energy Corp. 5.26 4.26 37.78 12.12
P/E Ratio, Sector
Oil, Gas & Consumable Fuels 10.92 7.00 14.31 20.63
P/E Ratio, Industry
Energy 11.20 7.35 14.77 34.21

Based on: 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), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
EPS = Net income (loss) attributable to common stockholders ÷ No. shares of common stock outstanding
= 3,773,000,000 ÷ 879,499,439 = 4.29

3 Closing price as at the filing date of Occidental Petroleum Corp. Annual Report.

4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 57.30 ÷ 4.29 = 13.36

5 Click competitor name to see calculations.

Valuation 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. P/E ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Price to Operating Profit (P/OP)

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 879,499,439 900,072,447 934,063,989 931,554,718 895,224,961
Selected Financial Data (US$)
Operating income (loss) (in millions) 6,840 14,037 4,566 (14,228) 646
Operating profit per share2 7.78 15.60 4.89 -15.27 0.72
Share price1, 3 57.30 58.96 38.92 26.61 32.74
Valuation Ratio
P/OP ratio4 7.37 3.78 7.96 45.37
Benchmarks
P/OP Ratio, Competitors5
Chevron Corp. 9.48 6.12 11.40 30.35
ConocoPhillips 7.61 4.57 8.66 6.04
Exxon Mobil Corp. 7.62 5.65 9.86 10.14
Marathon Petroleum Corp. 4.16 2.60 9.79 5.52
Pioneer Natural Resources Co. 8.37 4.70 16.34 170.14 14.48
Valero Energy Corp. 3.92 3.13 16.50 7.65
P/OP Ratio, Sector
Oil, Gas & Consumable Fuels 7.37 4.98 10.40 11.87
P/OP Ratio, Industry
Energy 7.60 5.24 10.72 16.06

Based on: 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), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Operating profit per share = Operating income (loss) ÷ No. shares of common stock outstanding
= 6,840,000,000 ÷ 879,499,439 = 7.78

3 Closing price as at the filing date of Occidental Petroleum Corp. Annual Report.

4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 57.30 ÷ 7.78 = 7.37

5 Click competitor name to see calculations.

Valuation 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. P/OP ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Price to Sales (P/S)

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 879,499,439 900,072,447 934,063,989 931,554,718 895,224,961
Selected Financial Data (US$)
Net sales (in millions) 28,257 36,634 25,956 17,809 20,393
Sales per share2 32.13 40.70 27.79 19.12 22.78
Share price1, 3 57.30 58.96 38.92 26.61 32.74
Valuation Ratio
P/S ratio4 1.78 1.45 1.40 1.39 1.44
Benchmarks
P/S Ratio, Competitors5
Chevron Corp. 1.46 1.31 1.69 2.09 1.46
ConocoPhillips 2.33 1.68 2.58 3.52 1.94
Exxon Mobil Corp. 1.24 1.12 1.17 1.34 0.88
Marathon Petroleum Corp. 0.41 0.32 0.35 0.51 0.25
Pioneer Natural Resources Co. 2.82 1.98 3.03 4.58 2.33
Valero Energy Corp. 0.32 0.28 0.31 0.48 0.27
P/S Ratio, Sector
Oil, Gas & Consumable Fuels 1.12 0.97 1.16 1.39 0.88
P/S Ratio, Industry
Energy 1.16 1.02 1.19 1.38 0.91

Based on: 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), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
Sales per share = Net sales ÷ No. shares of common stock outstanding
= 28,257,000,000 ÷ 879,499,439 = 32.13

3 Closing price as at the filing date of Occidental Petroleum Corp. Annual Report.

4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 57.30 ÷ 32.13 = 1.78

5 Click competitor name to see calculations.

Valuation 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. P/S ratio increased from 2021 to 2022 and from 2022 to 2023.

Price to Book Value (P/BV)

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 879,499,439 900,072,447 934,063,989 931,554,718 895,224,961
Selected Financial Data (US$)
Stockholders’ equity (in millions) 30,250 30,085 20,327 18,573 34,232
Book value per share (BVPS)2 34.39 33.43 21.76 19.94 38.24
Share price1, 3 57.30 58.96 38.92 26.61 32.74
Valuation Ratio
P/BV ratio4 1.67 1.76 1.79 1.33 0.86
Benchmarks
P/BV Ratio, Competitors5
Chevron Corp. 1.78 1.94 1.89 1.50 1.42
ConocoPhillips 2.65 2.75 2.61 2.22 1.80
Exxon Mobil Corp. 2.02 2.29 1.93 1.53 1.17
Marathon Petroleum Corp. 2.48 2.02 1.61 1.60 0.91
Pioneer Natural Resources Co. 2.36 2.14 2.37 2.78 1.86
Valero Energy Corp. 1.76 2.09 1.91 1.65 1.35
P/BV Ratio, Sector
Oil, Gas & Consumable Fuels 2.01 2.16 1.98 1.61 1.28
P/BV Ratio, Industry
Energy 2.07 2.24 2.04 1.64 1.32

Based on: 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), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 2023 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 30,250,000,000 ÷ 879,499,439 = 34.39

3 Closing price as at the filing date of Occidental Petroleum Corp. Annual Report.

4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 57.30 ÷ 34.39 = 1.67

5 Click competitor name to see calculations.

Valuation 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 required rate of return and its actual rate of return. Occidental Petroleum Corp. P/BV ratio decreased from 2021 to 2022 and from 2022 to 2023.