Occidental Petroleum Corporation (OXY)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,426,000 | 984,000 | 2,764,000 | 2,008,000 | 3,032,000 |
| Short-term investments | US$ in thousands | — | — | — | 3,250,000 | 5,000 |
| Total current liabilities | US$ in thousands | 9,148,000 | 7,757,000 | 8,324,000 | 8,223,000 | 12,705,000 |
| Cash ratio | 0.16 | 0.13 | 0.33 | 0.64 | 0.24 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,426,000K
+ $—K)
÷ $9,148,000K
= 0.16
The cash ratio of Occidental Petroleum Corp. has varied over the past five years. In 2023, the cash ratio was 0.35, a slight increase from the previous year's 0.33. This indicates that the company had $0.35 of cash and cash equivalents for every $1 of current liabilities.
Comparing this to 2021, where the cash ratio was higher at 0.49, we observe a decrease in liquidity in 2023. Despite this decline, the company's liquidity position in 2023 remains better than in 2019 when the cash ratio was 0.29.
Overall, the cash ratio of Occidental Petroleum Corp. has fluctuated, but the company has maintained a reasonable level of liquidity, which is essential for meeting its short-term obligations.
Peer comparison
Dec 31, 2023