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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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Historical Valuation Ratios (Summary)
Occidental Petroleum Corp., historical price multiples (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Price to Earnings (P/E) Ratio
- The P/E ratio data begins from the first quarter of 2022, exhibiting a significant decline from 23.89 in March 2022 to a low of 4.24 by March 2023. Following this trough, the ratio experienced a gradual increase, peaking at 19.28 in September 2024, before decreasing again to 15.83 by March 2025. This pattern indicates a cycle where the market initially revised earnings expectations downward sharply but regained confidence subsequently, although with some volatility towards the end of the period.
- Price to Operating Profit (P/OP) Ratio
- This ratio follows a similar trend to the P/E ratio, starting at 33.61 in December 2021 and declining steadily to 3.78 in March 2023. Afterwards, it shows a recovery phase, increasing to a peak of 10.46 in September 2024 before settling back at 7.83 by March 2025. The sizeable initial drop suggests that operating profits were being discounted heavily by the market initially, but subsequent periods show a partial restoration of valuation multiples.
- Price to Sales (P/S) Ratio
- The P/S ratio exhibits more stability compared to P/E and P/OP ratios. Starting at 1.39 in December 2020, the ratio rises moderately to a peak of 2.14 in June 2024 before declining to 1.39 by March 2025. The fluctuations are within a relatively narrow range, generally between 1.2 and 2.1, indicating consistent market valuation relative to sales over the period with slight optimism around mid-2024.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio demonstrates a marked upward trend from 0.39 in March 2020 to a high point of 2.37 in September 2022. After this peak, a gradual decline is observed, reaching 1.11 by March 2025. This trajectory shows that the market initially increased its valuation relative to the company's book value significantly during 2021 and 2022, but this premium decreased over subsequent quarters, possibly reflecting a reassessment of asset values or growth prospects.
Price to Earnings (P/E)
Occidental Petroleum Corp., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 2025-03-31), 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
EPS
= (Net income (loss) attributable to common stockholdersQ1 2025
+ Net income (loss) attributable to common stockholdersQ4 2024
+ Net income (loss) attributable to common stockholdersQ3 2024
+ Net income (loss) attributable to common stockholdersQ2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Occidental Petroleum Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price demonstrated significant volatility over the depicted period. Initially, there was a decline from $13.40 at the start of 2020 to a low of $12.23 in September 2020, followed by a sharp recovery peaking at $38.92 by the end of 2021. This upward momentum persisted into early 2022, reaching a peak of $74.83 in September 2022, before experiencing a notable decrease in the subsequent quarters. From late 2022 through March 2025, the price trended downward overall, declining from approximately $59 to $39.01, indicating a period of weakening market valuation after the earlier peak.
- Earnings Per Share (EPS) Developments
- EPS figures were not available for much of 2020 but began to surface in the fourth quarter with negative results (-$16.83), illustrating a period of losses. This negative trend improved steadily, turning positive in Q1 2022 at $1.63 and showing consistent growth to a peak of $13.89 in December 2022. After this peak, EPS values demonstrated a gradual decline, tapering off to $2.46 by Q1 2025. This pattern suggests an initial recovery and profitability phase, followed by a slowing in earnings growth and a diminishing profitability margin in more recent quarters.
- Price-to-Earnings (P/E) Ratio Observations
- The P/E ratio was unreported during much of 2020 and 2021 but appeared in early 2022 with a moderate level of 23.89, reflecting high market expectations relative to earnings. Subsequently, it fell significantly, reaching lows around 4.24 by the end of 2022, corresponding to the peak earnings observed at that time. From 2023 onward, the P/E ratio increased gradually reaching values above 19 in late 2024, consistent with declining earnings and falling share prices. This rising P/E in the face of declining EPS suggests decreasing earnings power and potentially heightened investor uncertainty.
- Overall Financial and Market Position
- The data depicts a company that underwent a significant turnaround starting in late 2020 with negative earnings improving to strong profitability in 2022, alongside a substantial rise in share price. However, from late 2022 onwards, both share prices and EPS declined, while the P/E ratio increased. These movements indicate a shift in market sentiment and financial performance, with earnings growth slowing and stock market valuation becoming less favorable. The recent trends through early 2025 highlight challenges in maintaining the earlier growth momentum.
Price to Operating Profit (P/OP)
Occidental Petroleum Corp., historical P/OP calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 2025-03-31), 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Operating profit per share
= (Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024
+ Operating income (loss)Q2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Occidental Petroleum Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The data exhibits distinct trends in share price and operating profit per share over the examined periods. The share price demonstrates a general upward movement with notable fluctuations. Beginning at $13.40 in March 2020, it rises steadily to peak at $74.83 in September 2022. Following this high point, however, the share price experiences a declining trajectory, reaching $39.01 by March 2025.
Operating profit per share initially shows negative values, reflecting losses in the early periods, particularly from December 2020 to September 2021, ranging from -$15.27 to $1. Thereafter, a consistent improvement is observed, with the profit per share increasing to a peak of $15.60 in December 2022. Subsequent quarters exhibit a gradual decline in operating profit per share, trending downward to approximately $4.98 by March 2025.
The Price to Operating Profit ratio (P/OP) adds further insight into valuation trends. Initially unavailable for early loss-making quarters, it becomes available from September 2021 onwards. The ratio declines sharply from a high of 33.61 to a low around 3.78 in March 2023, indicating an increase in earnings relative to price or a correction of earlier overvaluation. From this low, the ratio steadily rises to 10.46 in December 2024 before slightly lowering to 7.83 in March 2025.
The interplay between the share price, operating profit per share, and the P/OP ratio suggests that the share price's peak in late 2022 coincides with the highest operating profitability but preceded a decrease in share price despite still positive operating profits. The rising P/OP ratio in 2024 indicates potential market caution or reassessment of operating profit sustainability, as prices fall while profits decline more slowly. Overall, the data reflects recovery from early losses, reaching strong profitability, followed by a moderation phase with correcting valuations and profit adjustments.
- Share Price Trend
- Started low in early 2020, peaked significantly in late 2022, then declined steadily through early 2025.
- Operating Profit per Share Trend
- Negative values in 2020, turning positive in late 2021, peaking at the end of 2022, followed by gradual decreases.
- Price to Operating Profit Ratio (P/OP)
- High during initial earnings recovery, dropping sharply by early 2023, then gradually increasing through early 2025.
- Correlation and Insights
- Share price peaks coincide with high operating profits; later declines in share price occur even as profits remain positive but moderate, prompting an increase in P/OP ratio indicative of market revaluation.
Price to Sales (P/S)
Occidental Petroleum Corp., historical P/S calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 2025-03-31), 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Sales per share
= (Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024
+ Net salesQ2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Occidental Petroleum Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited notable volatility over the analyzed quarters. Initially, a low point was observed at $12.23 in September 2020, followed by a significant increase through 2021, peaking near $38.92 in December 2021. The upward trajectory continued into early 2022, reaching the highest recorded price of $74.83 in September 2022. Subsequently, a declining trend emerged, with prices decreasing steadily to $39.01 by March 2025. This pattern suggests a period of strong bullish sentiment culminating in late 2022, followed by a sustained market correction or negative sentiment through 2024 and early 2025.
- Sales Per Share Trends
- Sales per share data commenced in the first quarter of 2021 at $19.12. After a slight decline in the next quarter to $17.67, sales per share generally demonstrated an increasing trend reaching a peak of $40.7 in December 2022. After this apex, a diminishing trend occurred, with values gradually declining to $28 by March 2025. The sales per share performance indicates initial growth and recovery phases throughout 2021 and 2022, followed by a period of contraction or slower growth in recent quarters.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio values started from 1.39 in March 2021, rising to a peak of 2.14 in June 2024. This peak was preceded by fluctuations correlating with shifts in share price and sales per share. Notably, the P/S ratio generally increased during times of share price appreciation and decreased sales per share growth, reflecting market valuation changes relative to sales performance. After the peak in mid-2024, the ratio declined somewhat, ending at 1.39 by March 2025. The variations imply changing market expectations of growth prospects or profitability margins relative to sales.
- Summary of Observations
- Overall, the financial metrics exhibit a cyclical pattern with strong growth phases in both share price and sales per share during 2021 to late 2022, followed by gradual declines through 2023 to early 2025. The P/S ratio movements reflect shifts in investor valuation not always proportionate to sales trends, suggesting varying market sentiment and possible concerns about sustainable growth or profitability. The data presents an overall narrative of recovery after early 2020 lows, significant growth culminating in late 2022, and a subsequent correction or consolidation phase.
Price to Book Value (P/BV)
Occidental Petroleum Corp., historical P/BV calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 2025-03-31), 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 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 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited notable fluctuations over the reported periods. Initially, it started at $13.40 in March 2020, followed by a decline to a low of $12.23 in September 2020. From the end of 2020, a general upward trend is observed, peaking at $74.83 in September 2022. Subsequently, the share price declined again, stabilizing around the low $50s to high $30s by March 2025 at $39.01.
- Book Value per Share (BVPS) Trend
- BVPS demonstrated a consistent incremental trend overall. Starting at $34.77 in March 2020, it dropped to a low of approximately $19.54-$19.61 during mid-2021. From that point forward, BVPS steadily increased, reaching $36.95 in September 2024, before a slight reduction to $35.27 by March 2025. This pattern suggests ongoing growth in the company’s net asset value per share over time despite earlier declines.
- Price-to-Book Value Ratio (P/BV) Trend
- The P/BV ratio fluctuated considerably. Initially reported at 0.39 in March 2020, it increased through 2020 to reach a peak of 2.37 by September 2022. After this peak, the ratio decreased progressively to 1.11 by March 2025. This indicates that the market valuation relative to book value expanded significantly up to late 2022 and then contracted, reflecting a revaluation of the company’s equity market price relative to its book value.
- Insights and Patterns
- The data reveals that the share price experienced significant appreciation following the low point in late 2020, aligning with the gradual strengthening of BVPS. Despite BVPS growth, the share price peaked higher in late 2022 and then entered a downward correction phase. The P/BV ratio confirms this dynamic, showing market optimism and premium valuation up to September 2022, followed by normalization or investor caution reflected in the declining ratio. Overall, the trends suggest recovery and growth in intrinsic value (BVPS) accompanied by more volatile market perceptions (share price and P/BV), particularly influenced by external or cyclical factors affecting market sentiment.