Occidental Petroleum Corporation

OXY · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$40,512	$46,364	$52,400	$57,253	$27,076	$16,167	$38,489	$57,328	$68,797	$66,527	$63,146	$62,941	$73,358	$59,475	$72,992	$76,456	$63,314	$47,053	$61,657	$39,936	$30,901	$22,146	$15,469	$10,266	$9,470	$8,572	$7,376	$5,655	$9,400	$7,283	$6,541	$5,743	$5,255	$4,915	$5,087	$5,149	$7,692	$6,046	$4,706	$3,925	$3,154
Enterprise value	$63,064	$71,664	$71,984	$77,034	$54,700	$51,458	$75,491	$64,612	$76,953	$74,113	$68,250	$65,990	$77,150	$65,538	$75,082	$78,089	$63,889	$47,036	$61,518	$41,499	$31,719	$24,828	$19,114	$14,656	$15,615	$16,658	$12,302	$12,356	$14,253	$11,562	$11,378	$11,532	$10,913	$10,384	$10,583	$13,323	$16,158	$13,357	$10,776	$11,643	$6,830
P/E (TTM) at period end	25.13×	19.61×	13.97×	4.61×	17.91×	–	–	13.93×	52.72×	–	–	102.18×	12.45×	12.96×	10.80×	16.90×	21.75×	6.88×	11.42×	9.53×	5.85×	8.62×	10.13×	10.38×	8.21×	5.46×	16.46×	15.58×	–	10.90×	12.80×	–	18.57×	–	11.06×	–	30.05×	19.32×	25.58×	22.81×	6.93×
P/S (TTM) at period end	1.88×	2.11×	2.26×	1.56×	1.04×	0.91×	1.84×	3.68×	5.50×	6.59×	5.06×	3.26×	3.64×	2.96×	3.05×	4.01×	4.27×	1.98×	3.28×	2.33×	2.12×	1.95×	1.66×	1.40×	0.68×	0.63×	0.94×	0.83×	1.17×	0.69×	0.63×	0.62×	0.65×	0.58×	0.50×	0.24×	0.38×	0.31×	0.28×	0.26×	0.22×
P/B at period end	1.12×	1.36×	1.73×	1.90×	1.33×	0.87×	1.12×	2.69×	–	3.09×	2.59×	1.80×	1.70×	1.49×	1.94×	2.35×	2.18×	1.72×	2.70×	2.07×	2.06×	2.10×	1.95×	1.62×	1.68×	1.80×	2.09×	1.68×	2.19×	1.42×	1.41×	1.29×	1.33×	1.43×	1.17×	1.25×	1.30×	0.98×	0.92×	0.91×	0.96×
EV / EBITDA (TTM)	5.60×	6.15×	5.56×	3.81×	4.17×	8.34×	10.17×	9.45×	15.24×	22.90×	13.58×	6.35×	5.97×	5.16×	5.37×	7.35×	8.53×	3.27×	6.07×	4.42×	4.15×	4.33×	4.47×	4.75×	4.44×	4.56×	6.68×	9.15×	6.95×	6.49×	6.30×	8.18×	8.55×	8.88×	6.34×	5.86×	7.03×	–	–	–	–
EV / Sales (TTM)	2.92×	3.25×	3.11×	2.10×	2.11×	2.89×	3.61×	4.15×	6.15×	7.35×	5.47×	3.42×	3.82×	3.26×	3.14×	4.10×	4.31×	1.98×	3.28×	2.42×	2.17×	2.18×	2.05×	2.00×	1.12×	1.23×	1.57×	1.82×	1.78×	1.10×	1.09×	1.25×	1.34×	1.22×	1.05×	0.61×	0.81×	0.69×	0.63×	0.76×	0.47×
Returns
Return on equity	4.5%	6.9%	12.4%	41.3%	7.4%	(84.4%)	(2.9%)	19.3%	–	(2.7%)	(32.2%)	1.8%	13.7%	11.5%	18.0%	13.9%	10.0%	25.1%	23.7%	21.8%	35.1%	24.3%	19.3%	15.7%	20.5%	32.9%	12.7%	10.8%	(9.1%)	13.0%	11.0%	(0.8%)	7.2%	(17.2%)	10.6%	(40.9%)	4.3%	5.1%	3.6%	4.0%	13.9%
Return on invested capital	4.3%	5.6%	9.3%	25.1%	7.3%	(3.1%)	–	7.2%	3.6%	(2.3%)	1.4%	–	10.9%	11.2%	15.6%	12.6%	9.2%	25.1%	20.2%	19.7%	28.3%	20.1%	15.4%	14.2%	14.6%	11.1%	5.8%	2.3%	5.5%	6.5%	5.7%	–	1.3%	1.2%	2.8%	9.5%	4.4%	4.2%	2.3%	2.2%	4.3%
Dividend yield	3.9%	3.1%	2.6%	2.1%	3.1%	11.4%	6.8%	4.1%	3.4%	3.5%	3.6%	3.5%	2.1%	3.6%	2.0%	1.5%	1.7%	2.0%	1.2%	1.6%	1.6%	1.9%	2.5%	3.7%	3.9%	4.3%	4.9%	6.8%	4.5%	5.7%	6.2%	6.5%	6.4%	6.2%	8.2%	14.1%	8.8%	–	–	–	–
Financial health
Current ratio	0.94×	0.95×	0.92×	1.15×	1.23×	1.07×	1.15×	1.34×	1.12×	1.32×	1.37×	1.68×	1.34×	1.30×	1.45×	1.67×	1.63×	1.17×	1.37×	1.31×	1.62×	1.29×	0.98×	0.84×	0.82×	0.75×	0.86×	0.95×	1.02×	1.19×	0.95×	1.03×	0.94×	0.98×	1.07×	1.03×	1.10×	1.11×	1.14×	1.12×	1.20×
Debt / equity	0.62×	0.76×	0.65×	0.66×	1.46×	1.95×	1.13×	0.48×	(38.09×)	0.46×	0.34×	0.20×	0.16×	0.19×	0.16×	0.16×	0.10×	0.10×	0.08×	0.14×	0.19×	0.36×	0.51×	0.67×	0.73×	1.14×	1.25×	2.02×	1.16×	0.89×	1.16×	1.33×	1.47×	1.61×	1.30×	1.99×	1.43×	1.27×	1.29×	1.94×	1.28×
Effective tax rate	32.6%	28.8%	28.5%	5.8%	24.7%	13.8%	243.2%	28.0%	1.8%	35.9%	13.7%	137.7%	41.5%	43.4%	40.2%	40.7%	40.9%	40.8%	40.9%	43.7%	27.4%	38.9%	42.6%	26.6%	32.4%	47.9%	52.6%	52.8%	58.9%	40.0%	46.6%	133.6%	65.9%	60.7%	61.3%	(4.0%)	46.1%	45.5%	75.4%	67.4%	71.1%
Share count
Diluted shares outstanding	1,000	967	961	1,002	959	919	810	763	766	764	766	781	805	810	813	814	814	820	839	860	818	802	771	758	747	737	711	699	669	665	638	622	645	603	594	584	541	497	403	298	212

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$21,671	$21,593	$22,019	$23,156	$36,634	$25,956	$17,809	$20,911	$15,560	$12,508	$10,090	$12,480	$19,312	$20,170	$20,100	$23,939	$19,045	$14,814	$23,713	$18,784	$17,175	$14,597	$11,368	$9,326	$7,338	$13,985	$13,574	$7,820	$6,805	$8,016	$10,557	$10,423	$9,236	$8,116	$8,494	$10,096	$21,694	$20,068	$19,417	$17,096	$15,344	$14,534
Cost of revenue	–	($14,299)	($3,121)	($3,116)	($3,273)	($2,772)	($2,408)	($2,791)	($6,568)	($5,594)	($5,189)	($5,804)	($6,803)	($6,497)	($6,530)	($7,385)	($6,112)	($8,769)	($10,488)	($9,535)	($8,381)	($6,941)	($5,872)	($4,127)	($3,561)	($3,810)	($9,057)	($5,122)	($4,568)	($5,168)	($5,173)	($5,566)	($6,838)	($6,058)	($6,334)	($7,474)	($18,224)	($16,413)	($15,782)	($13,792)	($12,816)	($11,674)
Gross profit	–	$7,294	$18,898	$20,040	$33,361	$23,184	$15,401	$18,120	$8,992	$6,914	$4,901	$6,676	$12,509	$13,673	$13,570	$16,554	$12,933	$6,587	$13,813	$9,310	$8,794	$7,656	$5,496	$5,199	$3,777	$10,175	$4,517	$2,698	$2,237	$2,848	$5,384	$4,857	$2,398	$2,058	$2,160	$2,622	$3,470	$3,655	$3,635	$3,304	$2,528	$2,861
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($942)	($986)	($960)	($987)	($945)	($863)	($864)	($893)	($585)	($2,973)	($1,330)	($1,270)	($1,503)	($1,801)	($1,366)	($1,523)	($1,396)	($1,350)	($1,285)	($1,561)	($1,356)	($1,324)	($1,008)	($915)	($700)	($675)	($691)	($645)	($678)	($797)	($1,033)	($1,017)	($988)	($781)	($991)	($954)	($1,195)	($1,358)	($1,604)	($1,246)	($759)	($786)
Total operating expenses	($8,872)	($3,572)	($14,200)	($13,552)	($20,077)	($18,513)	($17,330)	($16,834)	($6,129)	($5,867)	($5,933)	($6,195)	($6,385)	($4,948)	($4,453)	($6,172)	($5,467)	($1,783)	($1,845)	($1,561)	($1,403)	($1,386)	($1,067)	($2,095)	($1,712)	($7,625)	($1,772)	($1,672)	($1,744)	($1,630)	($4,371)	($3,851)	($1,885)	($1,688)	($1,878)	($1,909)	($2,301)	($2,484)	($2,594)	($2,275)	($1,714)	($1,823)
Total costs and expenses	($15,874)	($17,871)	($17,321)	($16,668)	($23,350)	($21,285)	($19,738)	($19,625)	($12,697)	($11,461)	($11,122)	($11,999)	($13,188)	($11,445)	($10,983)	($13,557)	($11,579)	($10,010)	($11,745)	($11,035)	($9,784)	($8,327)	($6,939)	($6,222)	($5,273)	($11,435)	($10,829)	($6,794)	($6,312)	($6,798)	($9,544)	($9,417)	($8,723)	($7,746)	($8,212)	($9,383)	($20,525)	($18,897)	($18,376)	($16,067)	($14,530)	($13,496)
Operating income	$5,797	$3,722	$4,698	$6,488	$13,284	$4,671	($1,929)	$1,286	$2,863	$1,047	($1,032)	$481	$6,124	$8,725	$9,117	$10,382	$7,466	$4,804	$11,968	$7,749	$7,391	$6,270	$4,429	$3,104	$2,065	$2,550	$2,745	$1,026	$493	$1,218	$1,013	$1,006	$513	$370	$282	$713	$1,169	$1,171	$1,041	$1,029	$814	$1,038
Earnings
EBITDA	$13,118	$11,255	$11,649	$12,937	$20,210	$13,118	$6,168	$7,426	$6,840	$5,049	$3,236	$5,025	$10,385	$12,928	$12,702	$13,973	$10,619	$7,491	$14,364	$10,128	$9,399	$7,642	$5,732	$4,279	$3,084	$3,520	$3,653	$1,843	$1,350	$2,051	$1,781	$1,806	$1,410	$1,277	$1,169	$1,668	$2,275	$2,297	–	–	–	–
Interest income	$279	$219	$192	$153	$153	$166	$118	$217	$136	$99	$106	$118	$130	$107	$80	$180	$112	$7	–	–	$381	$181	–	$89	–	–	$263	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($1,025)	($1,079)	($1,169)	($957)	($1,030)	($1,614)	($1,424)	($1,066)	($389)	($345)	($292)	($147)	($77)	($132)	($154)	($298)	($116)	($133)	($124)	($339)	($291)	($293)	–	($332)	–	–	($518)	–	–	–	–	–	–	($209)	–	–	–	–	–	–	–	–
Pre-tax income	$5,363	$3,128	$4,024	$4,662	$14,117	$3,705	($15,705)	$354	$5,277	$971	($1,845)	($9,684)	$1,224	$7,751	$6,125	$10,459	$7,359	$5,038	$11,963	$8,578	$7,667	$7,040	$4,389	$2,893	$1,585	$1,749	$3,011	$1,199	$688	$528	$856	$671	$107	$217	$321	$980	($1,623)	$475	$574	$747	$528	$1,577
Income tax expense	($1,433)	($1,021)	($1,158)	($1,330)	($813)	($915)	$2,172	($861)	($1,477)	($17)	$662	$1,330	($1,685)	($3,214)	($2,659)	($4,201)	($2,995)	($2,063)	($4,877)	($3,507)	($3,354)	($1,927)	($1,708)	($1,231)	($422)	($566)	($1,442)	($631)	($363)	($311)	($342)	($313)	($143)	($143)	($195)	($601)	($65)	($219)	($261)	($563)	($356)	($1,122)
Net income	$7,311	$2,369	$3,078	$4,696	$13,304	$2,322	($14,831)	($985)	$4,131	$1,311	($574)	($7,829)	$616	$5,903	$4,598	$6,771	$4,530	$2,915	$6,857	$5,400	$4,191	$5,278	$2,568	$1,527	$989	$1,154	$1,570	$448	$363	($390)	$668	$511	($36)	$283	($591)	$460	($1,688)	$256	$313	$184	$172	$455
Per share
Diluted EPS (GAAP)	$6.46	$1.61	$2.44	$3.90	$12.40	$1.58	($17.06)	($1.22)	$5.39	$1.70	($0.75)	($10.23)	$0.79	$7.32	$5.67	$8.32	$5.56	$3.58	$8.34	$6.42	$4.87	$6.45	$3.20	$1.98	$1.31	$1.55	$2.13	$0.62	$0.50	($0.71)	$0.87	$0.65	($0.18)	$0.38	($0.98)	$0.38	($2.90)	$0.46	$0.63	$0.39	$0.33	$1.10
Basic EPS (GAAP)	$6.59	$1.65	$2.59	$4.22	$13.41	$1.62	($17.06)	($1.22)	$5.40	$1.71	($0.75)	($10.23)	$0.79	$7.33	$5.67	$8.32	$5.57	$3.59	$8.37	$6.45	$4.92	$6.55	$3.25	$2.00	$1.32	$1.55	$2.13	$0.62	$0.50	($0.71)	$0.89	$0.66	($0.18)	$0.38	($0.98)	$0.38	($2.90)	$0.46	$0.63	$0.39	$0.33	$1.10
Basic shares outstanding	990	976	912	889	926	935	919	810	762	765	764	766	781	804	809	812	812	811	818	835	853	807	791	764	752	745	737	711	699	669	650	638	622	645	603	594	584	541	497	403	298	212
Margins
Gross margin	–	33.8%	85.8%	86.5%	91.1%	89.3%	86.5%	86.7%	57.8%	55.3%	48.6%	53.5%	64.8%	67.8%	67.5%	69.2%	67.9%	44.5%	58.3%	49.6%	51.2%	52.4%	48.3%	55.7%	51.5%	72.8%	33.3%	34.5%	32.9%	35.5%	51.0%	46.6%	26.0%	25.4%	25.4%	26.0%	16.0%	18.2%	18.7%	19.3%	16.5%	19.7%
Operating margin	26.8%	17.2%	21.3%	28.0%	36.3%	18.0%	(10.8%)	6.1%	18.4%	8.4%	(10.2%)	3.9%	31.7%	43.3%	45.4%	43.4%	39.2%	32.4%	50.5%	41.3%	43.0%	43.0%	39.0%	33.3%	28.1%	18.2%	20.2%	13.1%	7.2%	15.2%	9.6%	9.7%	5.6%	4.6%	3.3%	7.1%	5.4%	5.8%	5.4%	6.0%	5.3%	7.1%
Net margin	33.7%	11.0%	14.0%	20.3%	36.3%	8.9%	(83.3%)	(4.7%)	26.5%	10.5%	(5.7%)	(62.7%)	3.2%	29.3%	22.9%	28.3%	23.8%	19.7%	28.9%	28.7%	24.4%	36.2%	22.6%	16.4%	13.5%	8.3%	11.6%	5.7%	5.3%	(4.9%)	6.3%	4.9%	(0.4%)	3.5%	(7.0%)	4.6%	(7.8%)	1.3%	1.6%	1.1%	1.1%	3.1%

Analyst consensus

Buy52 analysts

Bearish · 2 · Hold · 23 · Bullish · 27

Earnings history

	EPS	Estimate
Q3 2024	$1.00	$0.74	Beat
Q4 2024	$0.80	$0.68	Beat
Q1 2025	$0.87	$0.78	Beat
Q2 2025	$0.39	$0.30	Beat
Q3 2025	$0.64	$0.51	Beat
Q4 2025	$0.31	$0.16	Beat
Q1 2026	$1.06	$0.60	Beat
Q2 2026	$2.40	$1.83	Beat

Peers

Company overview

IPO dateDec 31, 1981

CEORichard A. Jackson

Employees10,412

SectorEnergy

IndustryOil & Gas Exploration & Production

CountryUS

ExchangeNew York Stock Exchange

Websitewww.oxy.com

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. It operates through Oil and Gas and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. This segment also optimizes its transportation and storage capacity and invests in entities. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, NGLs, natural gas, carbon dioxide, and power. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.