Occidental Petroleum Corporation (OXY)

Payables turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	4,940,000	4,421,000	4,567,000	4,591,000	4,684,000	4,736,000	4,650,000	4,463,000	4,185,000	3,798,000	3,592,000	12,245,000	13,686,000	15,930,000	17,004,000	9,005,000	8,219,000	9,443,000	7,685,000	6,241,000
Payables	US$ in thousands	3,646,000	3,908,000	3,557,000	3,514,000	4,029,000	3,715,000	5,197,000	4,664,000	3,899,000	3,713,000	3,544,000	3,416,000	2,987,000	2,682,000	3,034,000	3,845,000	4,910,000	6,789,000	5,445,000	5,261,000
Payables turnover		1.35	1.13	1.28	1.31	1.16	1.27	0.89	0.96	1.07	1.02	1.01	3.58	4.58	5.94	5.60	2.34	1.67	1.39	1.41	1.19

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $4,940,000K ÷ $3,646,000K
= 1.35

Occidental Petroleum Corp.'s payables turnover ratio has exhibited variability over the past eight quarters. The ratio fluctuated between 0.61 and 0.91 during this period, with Q1 and Q4 of 2023 showing the highest turnover ratios of 0.91 and 0.85, respectively. This indicates that the company is able to effectively manage its payables by paying off its suppliers relatively quickly in these quarters.

Conversely, the lowest turnover ratios were observed in Q2 and Q3 2022 at 0.61 and 0.64, respectively, suggesting that the company took longer to pay off its suppliers during these periods.

Overall, Occidental Petroleum Corp.'s payables turnover has shown some fluctuations, but the trend seems to indicate a generally effective management of payables, with occasional periods of slower payment to suppliers. Further analysis and comparison with industry peers may provide additional insights into the company's payables management efficiency.