Occidental Petroleum Corporation (OXY)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 28,257,000 | 36,634,000 | 25,956,000 | 17,809,000 | 20,911,000 |
| Total assets | US$ in thousands | 74,008,000 | 72,609,000 | 75,036,000 | 80,064,000 | 107,190,000 |
| Total asset turnover | 0.38 | 0.50 | 0.35 | 0.22 | 0.20 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $28,257,000K ÷ $74,008,000K
= 0.38
Occidental Petroleum Corp.'s total asset turnover has shown fluctuating trends over the past five years. The total asset turnover ratio measures the efficiency of a company in generating revenue from its total assets.
In 2023, the total asset turnover ratio was 0.38, indicating that for every dollar of assets, the company generated 38 cents in revenue. This represented a decrease from the previous year, where the ratio was 0.50. The decline in the total asset turnover ratio may suggest a decrease in efficiency in utilizing assets to generate sales.
Comparing 2023 to 2021, the total asset turnover ratio improved from 0.35 to 0.38, signaling an increase in efficiency in generating revenue from assets during that period.
Looking back further, there was a significant increase in the total asset turnover ratio from 2019 to 2020, going from 0.19 to 0.22. This improvement could indicate better utilization of assets to drive sales during 2020.
Overall, Occidental Petroleum Corp.'s total asset turnover has displayed variability over the years, with fluctuations indicating changes in the company's ability to generate revenue from its total assets.
Peer comparison
Dec 31, 2023