Latest Ratios: P/E Ratio 32.1x · EV/EBITDA 6.5x · ROE 6.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $51.4B | $41.1B | $47.8B | $57.4B | $63.1B | $27.8B | $15.9B | $33.4B | $46.9B | $56.4B | $54.4B |
| Enterprise Value | $73.4B | $63.1B | $72.8B | $76.9B | $82.9B | $55.4B | $51.2B | $70.4B | $54.1B | $64.6B | $62.0B |
| P/E Ratio → | 32.10 | 25.54 | 20.25 | 15.31 | 5.08 | 18.35 | — | — | 11.39 | 43.33 | — |
| P/S Ratio | 2.38 | 1.90 | 1.76 | 2.03 | 1.74 | 1.07 | 0.93 | 1.74 | 3.01 | 4.53 | 5.39 |
| P/B Ratio | 1.41 | 1.12 | 1.39 | 1.89 | 2.10 | 1.37 | 0.86 | 0.97 | 2.20 | 2.74 | 2.53 |
| P/FCF | 12.52 | 10.02 | 10.81 | 9.46 | 5.07 | 3.67 | 11.20 | 33.09 | 17.39 | 44.70 | 98.38 |
| P/OCF | 4.88 | 3.90 | 4.18 | 4.66 | 3.75 | 2.66 | 4.02 | 4.52 | 6.11 | 11.61 | 16.08 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.92 | 2.68 | 2.71 | 2.29 | 2.13 | 2.99 | 3.66 | 3.48 | 5.18 | 6.14 |
| EV / EBITDA | 6.46 | 5.55 | 5.41 | 5.63 | 4.08 | 4.18 | 8.24 | 9.36 | 7.85 | 12.66 | 18.96 |
| EV / EBIT | 19.71 | 16.95 | 13.87 | 10.42 | 5.47 | 10.42 | — | 49.55 | 9.03 | 49.07 | — |
| EV / FCF | — | 15.37 | 16.46 | 12.68 | 6.65 | 7.33 | 36.05 | 69.81 | 20.09 | 51.17 | 112.10 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.8% | 33.8% | 35.6% | 34.4% | 47.0% | 29.3% | 2.6% | 23.1% | 31.6% | 22.3% | 5.7% |
| Operating Margin | 17.2% | 17.2% | 22.0% | 22.9% | 36.6% | 18.0% | -11.3% | 6.7% | 18.4% | 8.4% | -10.2% |
| Net Profit Margin | 11.0% | 11.0% | 11.2% | 16.5% | 36.5% | 8.9% | -86.5% | -3.5% | 26.4% | 10.5% | -5.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.7% | 6.7% | 9.4% | 15.5% | 52.5% | 11.9% | -56.2% | -2.4% | 19.6% | 6.2% | -2.5% |
| ROA | 2.8% | 2.8% | 3.8% | 6.4% | 17.9% | 3.0% | -15.8% | -0.9% | 9.6% | 3.1% | -1.3% |
| ROIC | 4.7% | 4.7% | 8.2% | 9.8% | 20.4% | 6.9% | -2.3% | 1.9% | 7.5% | 2.7% | -2.6% |
| ROCE | 4.9% | 4.9% | 8.5% | 10.0% | 20.2% | 6.7% | -2.3% | 2.0% | 8.1% | 2.9% | -2.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.65 | 0.65 | 0.79 | 0.69 | 0.69 | 1.49 | 2.01 | 1.17 | 0.48 | 0.48 | 0.46 |
| Debt / EBITDA | 2.11 | 2.11 | 2.02 | 1.53 | 1.02 | 2.29 | 6.00 | 5.33 | 1.50 | 1.93 | 3.00 |
| Net Debt / Equity | — | 0.60 | 0.72 | 0.64 | 0.66 | 1.36 | 1.90 | 1.08 | 0.34 | 0.40 | 0.35 |
| Net Debt / EBITDA | 1.93 | 1.93 | 1.86 | 1.43 | 0.97 | 2.09 | 5.68 | 4.92 | 1.06 | 1.60 | 2.32 |
| Debt / FCF | — | 5.35 | 5.65 | 3.21 | 1.59 | 3.65 | 24.85 | 36.71 | 2.70 | 6.46 | 13.72 |
| Interest Coverage | 4.14 | 4.14 | 4.46 | 7.80 | 14.71 | 3.30 | -10.03 | 1.33 | 15.42 | 3.81 | -5.32 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.94 | 0.94 | 0.95 | 0.92 | 1.15 | 1.23 | 1.07 | 1.15 | 1.34 | 1.12 | 1.32 |
| Quick Ratio | 0.74 | 0.74 | 0.73 | 0.69 | 0.88 | 1.00 | 0.84 | 1.03 | 1.17 | 0.95 | 1.19 |
| Cash Ratio | 0.21 | 0.21 | 0.22 | 0.16 | 0.13 | 0.33 | 0.24 | 0.24 | 0.41 | 0.23 | 0.35 |
| Asset Turnover | — | 0.25 | 0.32 | 0.38 | 0.50 | 0.35 | 0.21 | 0.18 | 0.36 | 0.30 | 0.23 |
| Inventory Turnover | 7.84 | 7.84 | 8.33 | 9.19 | 9.33 | 9.94 | 8.80 | 9.34 | 8.46 | 7.77 | 10.99 |
| Days Sales Outstanding | — | 56.00 | 57.19 | 52.78 | 43.10 | 59.16 | 45.04 | 80.41 | 114.70 | 121.42 | 144.24 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.1% | 3.9% | 3.0% | 2.4% | 1.9% | 3.0% | 11.6% | 7.9% | 5.1% | 4.2% | 4.2% |
| Payout Ratio | 67.3% | 67.3% | 47.5% | 29.2% | 9.0% | 36.3% | — | — | 57.7% | 179.8% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 3.9% | 4.9% | 6.5% | 19.7% | 5.5% | — | — | 8.8% | 2.3% | — |
| FCF Yield | 8.0% | 10.0% | 9.3% | 10.6% | 19.7% | 27.2% | 8.9% | 3.0% | 5.8% | 2.2% | 1.0% |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 6.0% | 4.9% | 0.0% | 0.1% | 0.7% | 2.7% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.1% | 3.9% | 3.1% | 8.4% | 6.8% | 3.0% | 11.7% | 8.6% | 7.7% | 4.2% | 4.3% |
| Shares Outstanding | — | $1.0B | $967M | $961M | $1.0B | $959M | $919M | $810M | $763M | $766M | $764M |
High Financial Leverage Sensitivity
According to current market data, OXY trades at a TTM P/E of 31.05, which appears significantly elevated compared to its forward P/E of 9.00, suggesting that investors are pricing in a sharp recovery in earnings that remains highly contingent on volatile commodity price benchmarks.
The wide gap between trailing and forward multiples indicates that the market is discounting current earnings volatility as transitory. However, given the company's capital-intensive nature, this valuation premium may be at risk if the anticipated earnings expansion fails to materialize due to sustained pressure on realized oil prices.
Based on reported financial statements, OXY's ROIC has struggled to maintain momentum, falling to a marginal 0.5% in 2026Q1, which highlights the difficulty of generating adequate returns on invested capital within a high-cost, unconventional shale extraction environment compared to more efficient industry peers.
The persistent decay in ROIC suggests that the company's massive capital outlays are not yet yielding the expected productivity gains. Investors should monitor whether this trend reflects structural inefficiencies in asset development or simply the lag between capital deployment and production realization in the Permian Basin.
As evidenced by the recent increase in the cash conversion cycle to 34 days in 2026Q1, OXY's operational efficiency appears to be deteriorating, as the company faces longer periods to convert its inventory and receivables into cash relative to its historical performance.
This lengthening of the cash conversion cycle suggests potential friction in the company's supply chain or a weakening of its bargaining power with customers. Such trends often precede liquidity constraints, particularly when the firm is simultaneously managing high debt service obligations and significant capital expenditure requirements.
According to the latest quarterly filings, OXY's interest coverage ratio plummeted to 0.87 in 2026Q1, indicating that the company's ability to service its debt from operating income has become increasingly precarious compared to the more comfortable levels observed in previous fiscal periods.
This decline in interest coverage highlights the vulnerability of the company's balance sheet to fluctuations in operating cash flow. The reliance on debt-funded growth, even with recent deleveraging efforts, leaves the firm with limited margin for error should commodity prices remain depressed for an extended duration.
The P/E ratio is frequently misapplied to OXY, as it obscures the significant impact of non-cash DD&A and derivative mark-to-market adjustments that distort net income, making EV/EBITDA a more reliable metric for assessing the company's true operational cash-generating capacity.
Relying on P/E ignores the capital-intensive nature of the business and the accounting nuances inherent in energy production. Analysts should prioritize EV/EBITDA to better capture the underlying cash flow potential of the assets before the distorting effects of depreciation and financing structures are applied.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying OXY stock.
Occidental Petroleum Corporation's current P/E ratio is 32.1x. The historical average is 17.6x. This places it at the 92th percentile of its historical range.
Occidental Petroleum Corporation's current EV/EBITDA is 6.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.6x.
Occidental Petroleum Corporation's return on equity (ROE) is 6.7%. The historical average is 11.7%.
Based on historical data, Occidental Petroleum Corporation is trading at a P/E of 32.1x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Occidental Petroleum Corporation's current dividend yield is 3.08% with a payout ratio of 67.3%.
Occidental Petroleum Corporation has 33.8% gross margin and 17.2% operating margin. Operating margin between 10-20% is typical for established companies.
Occidental Petroleum Corporation's Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.