Occidental Petroleum Corporation (OXY)

Working capital 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 current assets	US$ in thousands	8,375,000	8,266,000	7,454,000	8,142,000	8,886,000	8,749,000	10,408,000	10,058,000	10,211,000	9,899,000	12,844,000	10,074,000	8,819,000	10,694,000	8,437,000	14,109,000	14,633,000	20,944,000	9,425,000	9,270,000
Total current liabilities	US$ in thousands	9,148,000	8,941,000	7,456,000	7,440,000	7,757,000	7,935,000	9,730,000	8,700,000	8,324,000	9,126,000	9,586,000	8,631,000	8,223,000	10,500,000	9,919,000	11,963,000	12,705,000	15,697,000	7,880,000	7,537,000
Working capital turnover		—	—	—	50.58	32.45	44.63	49.75	21.36	13.76	28.72	5.99	11.43	29.88	104.52	—	10.96	10.85	3.87	12.10	10.59

December 31, 2023 calculation

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

Occidental Petroleum Corp.'s working capital turnover ratio, which measures how efficiently the company utilizes its working capital to generate sales revenue, has fluctuated over the past eight quarters.

In Q4 2023, the working capital turnover ratio was not provided. However, in Q3 2023, it also was not provided, indicating potential data unavailability.

The working capital turnover ratio significantly improved in Q1 2023, reaching 50.58, which reflects a substantial increase from the ratios observed in the previous quarters. This suggests that Occidental Petroleum Corp. effectively managed its working capital to support sales during this period.

In Q4 2022, the working capital turnover ratio was 32.45, showing a moderate efficiency in the utilization of working capital. The ratio improved further in Q3 2022 and Q2 2022 to 44.63 and 49.75, respectively, indicating a more efficient use of working capital during those quarters.

However, in Q1 2022, the working capital turnover ratio decreased to 21.36, reflecting a decline in the company's ability to utilize its working capital effectively to generate sales revenue.

Overall, Occidental Petroleum Corp.'s working capital turnover ratio has shown variability over the quarters under review, with Q1 2023 standing out as the most efficient period in terms of working capital utilization for generating sales.