Occidental Petroleum Corporation (OXY)

Total asset 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
Revenue (ttm)	US$ in thousands	28,257,000	29,304,000	31,536,000	35,510,000	36,634,000	36,328,000	33,730,000	29,012,000	25,956,000	22,203,000	19,519,000	16,489,000	17,809,000	20,277,000	22,028,000	23,520,000	20,911,000	20,294,000	18,692,000	18,355,000
Total assets	US$ in thousands	74,008,000	71,827,000	71,199,000	71,600,000	72,609,000	72,144,000	74,221,000	74,222,000	75,036,000	75,758,000	79,937,000	79,355,000	80,064,000	84,434,000	89,452,000	101,643,000	107,190,000	125,443,000	44,770,000	44,380,000
Total asset turnover		0.38	0.41	0.44	0.50	0.50	0.50	0.45	0.39	0.35	0.29	0.24	0.21	0.22	0.24	0.25	0.23	0.20	0.16	0.42	0.41

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $28,257,000K ÷ $74,008,000K
= 0.38

Occidental Petroleum Corp.'s total asset turnover has shown a declining trend from Q1 2023 to Q4 2023. The total asset turnover ratio measures the efficiency of the company in generating sales revenue from its total assets. A ratio of less than 1 indicates that the company is not effectively utilizing its assets to generate revenue.

The decreasing trend in total asset turnover may suggest that Occidental Petroleum Corp. is facing challenges in efficiently using its assets to generate sales. This could be due to factors such as underutilization of assets, inefficient asset management, or declining sales revenue relative to the size of the asset base.

Overall, the decreasing total asset turnover ratios over the quarters may raise concerns about the company's asset utilization efficiency and could indicate a need for Occidental Petroleum Corp. to review and improve its asset management strategies to enhance revenue generation from its total asset base.