Occidental Petroleum Corporation (OXY)
Solvency ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.50 | 2.45 | 2.41 | 3.69 | 4.31 |
Occidental Petroleum Corporation's solvency ratios show a consistently low level of leverage over the years, indicating a strong financial position. The Debt-to-assets ratio, Debt-to-capital ratio, and Debt-to-equity ratio have remained at 0.00 for the years 2020 to 2024, suggesting that the company has no significant debt relative to its assets, capital, or equity.
Additionally, the Financial leverage ratio has experienced a decreasing trend from 4.31 in 2020 to 2.50 in 2024. This indicates a reduction in the company's reliance on debt to finance its operations, reflecting improved financial stability and increased ability to weather economic uncertainties.
Overall, Occidental Petroleum Corporation's solvency ratios paint a picture of a company with a strong balance sheet and prudent management of its debt, which bodes well for its ability to meet financial obligations and sustain long-term growth.
Coverage ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Interest coverage | 4.46 | 7.80 | 14.62 | 3.30 | -10.03 |
Occidental Petroleum Corporation's interest coverage ratio has shown significant fluctuations over the years. As of December 31, 2020, the company's interest coverage ratio was -10.03, indicating that its earnings were insufficient to cover its interest expenses. However, by December 31, 2021, the ratio improved to 3.30, suggesting a better ability to meet interest obligations.
Subsequently, by December 31, 2022, Occidental Petroleum Corporation's interest coverage ratio increased substantially to 14.62, reflecting a strong capacity to cover interest payments from its earnings. However, by December 31, 2023, the ratio declined to 7.80, although still at a respectable level compared to previous years.
As of December 31, 2024, the interest coverage ratio further decreased to 4.46, indicating a reduction in the company's ability to cover interest expenses compared to the previous year. Overall, Occidental Petroleum Corporation has experienced fluctuations in its interest coverage ratio, with improvements in recent years but a slight dip in the most recent period.