Occidental Petroleum Corporation (OXY)

Working capital 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 current assets	US$ in thousands	8,375,000	8,886,000	10,211,000	8,819,000	14,633,000
Total current liabilities	US$ in thousands	9,148,000	7,757,000	8,324,000	8,223,000	12,705,000
Working capital turnover		—	32.45	13.76	29.88	10.85

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $28,257,000K ÷ ($8,375,000K – $9,148,000K)
= —

The working capital turnover ratio for Occidental Petroleum Corp. has shown fluctuations over the past five years. In 2019, the ratio was relatively low at 5.46, indicating that the company turned over its working capital 5.46 times during that year.

In 2020, there was a significant increase in the ratio to 29.88, suggesting a more efficient utilization of working capital to generate revenue. This improvement could be attributed to better management of current assets and liabilities.

Subsequently, in 2021, the working capital turnover ratio decreased to 13.76, indicating a slight decline in efficiency compared to the previous year. However, the ratio remained at a relatively healthy level.

The most recent data for 2022 shows a significant increase in the working capital turnover ratio to 32.45, indicating a strong improvement in working capital management efficiency. This could be a positive sign of the company's ability to generate revenue using its working capital more effectively.

Overall, the trend in Occidental Petroleum Corp.'s working capital turnover ratio shows fluctuations over the five-year period, with improvements in some years and declines in others. It is important for the company to continue monitoring and managing its working capital efficiently to support its operations and financial performance.