Occidental Petroleum Corporation (OXY)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 6,429,000 | 14,117,000 | 3,237,000 | -17,003,000 | -124,000 |
| Revenue | US$ in thousands | 28,257,000 | 36,634,000 | 25,956,000 | 17,809,000 | 20,911,000 |
| Pretax margin | 22.75% | 38.54% | 12.47% | -95.47% | -0.59% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $6,429,000K ÷ $28,257,000K
= 22.75%
Occidental Petroleum Corp.'s pretax margin has exhibited significant fluctuations over the past five years. In 2023, the pretax margin stood at 22.75%, reflecting a decrease from the prior year's level of 38.54%. The notable decrease in pretax margin suggests that the company's profitability before taxes declined in 2023 compared to 2022.
Looking further back, in 2021, Occidental Petroleum Corp. had a pretax margin of 14.27%, showing improvement from the significantly negative pretax margin of -88.19% in 2020. The positive pretax margin in 2021 indicates an increase in profitability before taxes compared to the substantial loss incurred in 2020.
In 2019, the company recorded a pretax margin of 0.91%, indicating a marginal level of profitability before taxes. Overall, Occidental Petroleum Corp.'s pretax margin has experienced fluctuations, with improvements in profitability seen in some years and declines in others. Further analysis of the company's financial performance and factors influencing its pretax margin would provide more insights into its financial health and operational efficiency.
Peer comparison
Dec 31, 2023