Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
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).
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- Income Statement
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Historical Valuation Ratios (Summary)
Occidental Petroleum Corp., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio presents a marked decline from the end of 2021 through the first quarter of 2023, moving from 23.89 down to a low of 4.24. This reflects a significant improvement in earnings or adjustments in market valuations during this period. However, starting in mid-2023, the ratio begins to rise again, reaching levels above 24 by mid-2025. The upward trend towards 2025 may suggest either depreciating earnings relative to the stock price or growing investor expectations about future profits. The fluctuations indicate notable volatility in valuations relative to earnings over the observed periods.
- Price to Operating Profit (P/OP) Ratio
- Similar to the P/E ratio, the Price to Operating Profit ratio decreases significantly from over 33 at the end of 2021 to a low of around 3.78 in early 2023. This suggests improving operating profitability or a market re-rating in favor of the company's operational earnings. Subsequently, there is an upward trend with some variability, reaching approximately 10.46 by mid-2025. The general pattern indicates periods of enhanced operational efficiency or profitability followed by increased market valuation relative to operating earnings.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio shows moderate fluctuations over the entire time frame, beginning near 1.5 in early 2021 and rising to a peak of 2.14 in early 2024. This increase signals growing investor valuation of the company's sales revenue during this period. Following this peak, the ratio declines gradually to around 1.39 by mid-2025, indicating a more conservative market assessment relative to sales thereafter. Overall, the P/S ratio remains within a relatively narrow range compared to earnings and operating profit multiples, suggesting steadier revenue-based valuation.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio trends upward from approximately 1.35 in early 2021 to above 2.3 by late 2022, indicating increased investor valuation against the company's net asset base. After this peak, the ratio declines steadily through 2024 and into mid-2025, reaching near 1.1. This suggests a reduction in market premium relative to the book value over time, possibly due to changes in asset valuations or investor sentiment. The overall trend reflects a period of optimism followed by a more cautious or value-oriented viewpoint.
Price to Earnings (P/E)
Occidental Petroleum Corp., historical P/E calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income (loss) attributable to common stockholders (in millions) | ||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net income (loss) attributable to common stockholdersQ2 2025
+ Net income (loss) attributable to common stockholdersQ1 2025
+ Net income (loss) attributable to common stockholdersQ4 2024
+ Net income (loss) attributable to common stockholdersQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Occidental Petroleum Corp. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrated significant variation over the analyzed quarters. Starting at approximately $26.63, it experienced a steady increase, peaking around $74.83 in September 2022. Subsequent to this peak, the price displayed a downward trend with fluctuations, falling to about $39.01 by March 2025. Periods of moderate recovery occurred intermittently, particularly notable in early 2024 when prices rose above $65, but the overall trend from late 2022 onwards is downward.
- Earnings Per Share (EPS) Trend
- EPS experienced a marked improvement from negative values in early 2021 to positive values from the end of 2021 onwards. Initially, EPS was deeply negative at -14.77, improving to a positive 1.63 by December 2021. The EPS peaked at 13.89 in December 2022 after a strong upward momentum throughout 2022. Following the peak, EPS showed a declining trend, decreasing steadily to 1.75 by March 2025. This suggests profitable operations initially increasing substantially, then profitability contracting over the subsequent periods.
- Price-to-Earnings (P/E) Ratio Analysis
- Data for the P/E ratio begins from December 2021, coinciding with turning profitability. The ratio was high at 23.89 at that time, then decreased significantly to as low as 4.24 by December 2022, corresponding to the EPS peak and strong share price performance. Afterward, the P/E ratio increased progressively, reaching 24.33 by June 2025. This rise in the P/E ratio alongside declining EPS suggests that market valuations became relatively higher compared to earnings, possibly reflecting lowered growth expectations or increased investor uncertainty.
- Overall Financial Performance Insights
- Overall, the data shows a recovery from significant losses in early 2021 towards profitability by the end of 2021, with earnings growth peaking in late 2022. The share price trajectory largely mirrors this growth phase but begins to decline before EPS peaks, indicating potential market anticipation of the subsequent earnings slowdown. The increasing P/E ratio in the later periods, despite decreasing earnings, may indicate market optimism or the impact of factors other than earnings influencing valuation. The general trend from late 2022 suggests a phase of diminishing earnings and a cautious or volatile market valuation environment.
Price to Operating Profit (P/OP)
Occidental Petroleum Corp., historical P/OP calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Operating income (loss) (in millions) | ||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Occidental Petroleum Corp. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The share price exhibited a general upward trend from March 2021, starting at $26.63 and reaching peaks above $74 by late 2022. However, from the end of 2022 onwards, there was a noticeable decline, with the price decreasing to $39.01 by the first quarter of 2025, despite some short-term fluctuations and minor recoveries in mid-2023 and mid-2024.
Operating profit per share showed significant improvement from a negative value of -$14 in March 2021 to positive values beginning in September 2021. This upward trajectory continued strongly through 2022, peaking at $15.6 per share at the end of that year. From 2023 onward, the operating profit per share displayed a gradual decline, falling to $4.31 by the first quarter of 2025, indicating a reduction in profitability over this later period.
The price-to-operating profit (P/OP) ratio reflects market valuation relative to operational earnings. Early in the dataset, the P/OP ratio was quite high, particularly in September 2021, indicating the share price was valued significantly above operating profits during that period. This ratio declined steadily through 2022, hitting lows around 3.78 to 4.91, suggesting a market assessment more closely aligned with earnings. Beginning in 2023, the P/OP ratio increased again, reaching values above 9 in the first quarter of 2025, implying that the share price was valued at a higher multiple relative to operating profits, despite the falling profitability.
In summary, the data indicate a phase of rapid improvement in operating profitability through 2021 and 2022, accompanied by a rising share price. Post-2022, although the share price declined, it remained relatively high compared to operating profits, as shown by the increasing P/OP ratio. The decline in operating profit per share alongside high P/OP ratios in recent quarters may suggest market expectations of future growth or other factors beyond current operating earnings impacting valuation.
- Share Price Trend
- Strong increase until late 2022, followed by a steady decline through early 2025.
- Operating Profit Per Share
- Significant recovery from negative territory in early 2021 to a peak in late 2022, then gradual decline onward.
- Price-to-Operating Profit Ratio
- High initial values declining through 2022, then increasing again from 2023, indicating changing market valuation relative to earnings.
- Overall Insight
- Initial profitability improvements and share price growth were followed by weakening operational results and share price correction, with market premiums rising relative to operating profits in the latest periods.
Price to Sales (P/S)
Occidental Petroleum Corp., historical P/S calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net sales (in millions) | ||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Occidental Petroleum Corp. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals notable trends in share price, sales per share, and the price-to-sales (P/S) ratio over multiple quarters.
- Share Price
- The share price showed a consistent upward trend from March 2021 through September 2022, peaking at $74.83. Following this peak, there was a general decline with some volatility, dropping to $39.01 by March 2025. The price experienced periods of partial recovery but did not return to prior highs within the observed timeframe.
- Sales per Share
- Sales per share steadily increased from $17.67 in March 2021 to a high of $40.7 in December 2021. From early 2022 onward, there was a gradual decline in sales per share, decreasing to $27.58 by March 2025. This indicates a diminishing revenue generation per share despite earlier robust growth.
- Price-to-Sales (P/S) Ratio
- The P/S ratio fluctuated throughout the period, initially moving between approximately 1.26 and 1.92, with peaks near $2.14 observed in March 2024. After this peak, the ratio declined to around 1.39 by March 2025, indicating the market valuation relative to sales per share weakened over the later quarters. The ratio's volatility suggests changing investor perceptions regarding valuation relative to sales.
Overall, the data indicate that while the company experienced strong growth in share price and sales per share through 2021 into 2022, both metrics exhibited a decline from late 2022 onward. The P/S ratio mirrored these dynamics with periods of gains and losses, implying shifts in market confidence and valuation multiples in the context of declining sales performance.
Price to Book Value (P/BV)
Occidental Petroleum Corp., historical P/BV calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Stockholders’ equity (in millions) | ||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Occidental Petroleum Corp. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The financial data indicates several notable trends in the company's market valuation and book value over the observed quarterly periods.
- Share Price
- The share price demonstrates a general upward trend from March 31, 2021, starting at $26.63 and peaking around the second and third quarters of 2022, reaching above $74. This rise reflects a period of strong market confidence or improved operational outlook. However, following this peak, the share price experienced volatility and a gradual decline, falling to $39.01 by March 31, 2025. The decline suggests a reduced market valuation or increased external pressures affecting investor sentiment during the latter periods.
- Book Value Per Share (BVPS)
- The book value per share shows a consistent upward trajectory throughout the entire time horizon. Beginning at $19.61 in March 2021, it steadily increases, reaching $36.29 by June 30, 2025. This trend points to continuous growth in net assets or retained earnings, indicating improved balance sheet strength and potentially reinvestment of earnings into the company.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio started around 1.36 in March 2021 and surged to a high of approximately 2.37 in the third quarter of 2022, reflecting a market valuation significantly higher than the underlying book value. Subsequently, the ratio declined and stabilized around the range of 1.1 to 1.9, falling to 1.17 by mid-2025. This pattern suggests that the market premium over book value diminished after the peak period, possibly due to correction in share prices or improvements in book value moderating the ratio.
In summary, the company's book value per share has steadily increased, indicating solid asset growth or profitability retention. The share price and P/BV ratio experienced a substantial increase through early to mid-2022, followed by a correction and gradual decline. This sequence illustrates a phase of heightened market optimism eventually tempered by market adjustments or reassessment of company valuation.