Occidental Petroleum Corporation (OXY)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 19,670,000 | 29,431,000 | 35,745,000 | 38,537,000 |
| Total assets | US$ in thousands | 74,008,000 | 72,609,000 | 75,036,000 | 80,064,000 | 107,190,000 |
| Debt-to-assets ratio | 0.00 | 0.27 | 0.39 | 0.45 | 0.36 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $74,008,000K
= 0.00
The debt-to-assets ratio for Occidental Petroleum Corp. has fluctuated over the past five years. In 2023 and 2022, the ratio remained stable at 0.27, indicating that 27% of the company's assets were financed by debt. This suggests a relatively conservative capital structure during those years.
In 2021, the ratio increased to 0.39, signaling that 39% of the company's assets were funded by debt. This could indicate a slight increase in leverage compared to the previous years.
The highest debt-to-assets ratio was observed in 2020 at 0.45, implying that 45% of Occidental Petroleum's assets were financed through debt. This significant increase in leverage may have been influenced by external factors or strategic decisions during that year.
In contrast, the ratio decreased to 0.35 in 2019, indicating a decrease in leverage and a more conservative capital structure compared to the previous year.
Overall, Occidental Petroleum Corp.'s debt-to-assets ratio has shown variability over the past five years, reflecting changes in the company's financing decisions and capital structure. It is essential for investors and stakeholders to monitor these fluctuations to assess the company's financial risk and stability.
Peer comparison
Dec 31, 2023