Occidental Petroleum Corporation (OXY)

Total asset turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Revenue US$ in thousands 26,725,000 28,257,000 36,634,000 25,956,000 17,809,000
Total assets US$ in thousands 85,445,000 74,008,000 72,609,000 75,036,000 80,064,000
Total asset turnover 0.31 0.38 0.50 0.35 0.22

December 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $26,725,000K ÷ $85,445,000K
= 0.31

Total asset turnover measures how efficiently a company generates revenue from its total assets. In the case of Occidental Petroleum Corporation, the total asset turnover has shown fluctuations over the past five years.

At the end of December 31, 2020, the total asset turnover was 0.22, indicating that for every dollar of assets, the company generated $0.22 in revenue. This ratio improved significantly by December 31, 2022, reaching 0.50, suggesting that the company was able to generate more revenue from its assets during that period.

However, by December 31, 2024, the total asset turnover had decreased to 0.31, indicating a decline in the company's ability to utilize its assets efficiently to generate revenue compared to the previous year.

Overall, while there have been fluctuations in Occidental Petroleum Corporation's total asset turnover over the years, the company should monitor and potentially seek ways to improve efficiency in its asset utilization to enhance revenue generation in the future.


See also:

Occidental Petroleum Corporation Total Asset Turnover