Occidental Petroleum Corporation (OXY)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 30,250,000 | 30,085,000 | 20,327,000 | 18,573,000 | 34,232,000 |
| Debt-to-equity ratio | 0.00 | 0.65 | 1.45 | 1.92 | 1.13 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $30,250,000K
= 0.00
The debt-to-equity ratio of Occidental Petroleum Corp. has shown fluctuations over the past five years.
In 2019, the ratio was 1.13, indicating that the company had more debt relative to its equity. Subsequently, in 2020, the ratio increased to 1.95, signaling a significant rise in the company's debt levels compared to its equity.
In 2021, there was a decrease in the debt-to-equity ratio to 1.46, suggesting that the company reduced its reliance on debt financing or increased its equity base. Following this trend, in 2022, the ratio slightly decreased to 0.66, indicating a further improvement in the company's debt position relative to its equity.
Most recently, in 2023, the debt-to-equity ratio declined to 0.65, demonstrating a continued strengthening of the company's financial position with lower debt levels in comparison to equity.
Overall, the decreasing trend in the debt-to-equity ratio from 2019 to 2023 suggests that Occidental Petroleum Corp. has been progressively managing its debt levels more efficiently and enhancing its financial stability by optimizing its capital structure.
Peer comparison
Dec 31, 2023