Occidental Petroleum Corporation (OXY)

Financial leverage ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	74,008,000	71,827,000	71,199,000	71,600,000	72,609,000	72,144,000	74,221,000	74,222,000	75,036,000	75,758,000	79,937,000	79,355,000	80,064,000	84,434,000	89,452,000	101,643,000	107,190,000	125,443,000	44,770,000	44,380,000
Total stockholders’ equity	US$ in thousands	30,250,000	29,312,000	29,111,000	29,559,000	30,085,000	28,720,000	27,830,000	24,907,000	20,327,000	18,873,000	18,244,000	18,300,000	18,573,000	19,860,000	23,346,000	31,295,000	34,232,000	36,080,000	21,347,000	21,236,000
Financial leverage ratio		2.45	2.45	2.45	2.42	2.41	2.51	2.67	2.98	3.69	4.01	4.38	4.34	4.31	4.25	3.83	3.25	3.13	3.48	2.10	2.09

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $74,008,000K ÷ $30,250,000K
= 2.45

Occidental Petroleum Corp.'s financial leverage ratio has shown some fluctuations over the past eight quarters, ranging from 2.41 to 2.98. The ratio measures how much debt the company has relative to its equity. Generally, a higher financial leverage ratio indicates a higher level of debt compared to equity, which can increase financial risk.

In the recent quarters, the company's financial leverage ratio has been relatively stable around 2.45, suggesting a consistent level of debt relative to equity. However, there was a noticeable increase in the ratio during Q2 2022, where it peaked at 2.98, indicating a significant rise in debt compared to equity during that period.

Overall, monitoring Occidental Petroleum Corp.'s financial leverage ratio is essential for assessing the company's capital structure and financial risk. It is important for investors and stakeholders to closely monitor any significant changes in the ratio to understand the company's ability to meet its financial obligations and its risk exposure.