Occidental Petroleum
OXY · NYSECrude Petroleum & Natural Gas · Fiscal year ends Dec 31
Occidental Petroleum reported revenue of $21.6B in the fiscal year ended Dec 2025, down 5.0% from the year before. Net income was $2.4B. Operating cash flow of $10.5B less capital expenditure of $6.4B left free cash flow of $4.1B. Net debt was $18.7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $26B | $36.2B | $23.2B | $22.7B | $21.6B |
| Cost of revenue | $2.8B | $3.3B | $3.1B | $3.1B | – |
| Gross profit | $23.2B | $33B | $20.1B | $19.6B | – |
| Selling, general & admin | $863M | $945M | $987M | $960M | $986M |
| Pre-tax income | $3.7B | $14.1B | $4.7B | $4B | $3.1B |
| Income tax | $915M | $813M | $1.3B | $1.2B | $1B |
| Net income | $2.3B | $13.3B | $4.7B | $3.1B | $2.4B |
| Diluted EPS | 1.58 | 12.40 | 3.90 | 2.44 | 1.61 |
| Diluted shares | 959M | 1,002M | 961M | 967M | 1,000M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $2.8B | $984M | $1.4B | $2.1B | $2B |
| Receivables | $4.2B | $4.3B | $3.2B | $2.8B | $2.6B |
| Inventory | $1.8B | $2.1B | $2B | $1.8B | $1.8B |
| Current assets | $10.2B | $8.9B | $8.4B | $9.1B | $8.8B |
| Net PP&E | – | – | – | – | $63.6B |
| Goodwill | – | – | – | $668M | $668M |
| Total assets | $75B | $72.6B | $74B | $85.4B | $84.2B |
| Payables | $3.9B | $4B | $3.6B | $3.5B | $3.3B |
| Current liabilities | $8.3B | $7.8B | $9.1B | $9.5B | $9.4B |
| Short-term debt | $186M | – | – | – | – |
| Long-term debt | $29.4B | $19.7B | $18.5B | $25B | $20.6B |
| Shareholders' equity | $20.3B | $30.1B | $30.3B | $34.2B | $36B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $10.4B | $16.8B | $12.3B | $11.4B | $10.5B |
| Capital expenditure | $2.9B | $4.5B | $5.7B | $6.3B | $6.4B |
| Free cash flow | $7.6B | $12.3B | $6.6B | $5.2B | $4.1B |
| Depreciation & amortisation | $8.4B | $6.9B | $6.4B | $7B | $7.5B |
| Stock-based compensation | $287M | $258M | $203M | $213M | $234M |
| Share buybacks | $8M | $3.1B | $1.8B | $27M | $0 |
| Dividends paid | $839M | $1.2B | – | – | – |
| Dividend per share | 0.04 | 0.52 | 0.72 | 0.88 | 0.96 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 39.6% | −35.9% | −2.2% | −5.0% |
| EPS growth (YoY) | – | 684.8% | −68.5% | −37.4% | −34.0% |
| Gross margin | 89.3% | 91.0% | 86.6% | 86.3% | – |
| Net margin | 8.9% | 36.7% | 20.2% | 13.6% | 11.0% |
| Return on equityBlank when equity is negative | 11.4% | 44.2% | 15.5% | 9.0% | 6.6% |
| Free cash flow margin | 29.1% | 34.0% | 28.5% | 22.8% | 19.0% |
| Cash conversion (CFO ÷ net income) | 4.49x | 1.26x | 2.62x | 3.72x | 4.45x |
| Receivable days | 59 | 43 | 50 | 46 | 44 |
| Inventory days | 243 | 230 | 237 | 205 | – |
| Payable days | 513 | 449 | 427 | 406 | – |
| Debt ÷ equity | 1.46x | 0.65x | 0.61x | 0.73x | 0.57x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $26.9B | $18.7B | $17.1B | $22.9B | $18.7B |
| Current ratio | 1.23x | 1.15x | 0.92x | 0.95x | 0.94x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.