Occidental Petroleum CorporationOXY
NYSE•Energy•Oil & Gas E&P
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. It operates through Oil and Gas and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. This segment also optimizes its transportation and storage capacity and invests in entities. The Midstream and Marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, NGLs, natural gas, carbon dioxide, and power. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.
Occidental Petroleum Corporatio (OXY) reported trailing twelve months revenue of $20.23B as of March 2026, a 26.7% decline year-over-year. Quarterly revenue reached $5.57B, reflecting a contraction in sales.
Occidental Petroleum Corporatio generated $4.78B in TTM net income, with quarterly EBITDA of $2.05B. The operating margin contracted from 17.3% to 4.6%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (4.6%) and net margin (60.3%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 13.7% a year ago, signaling stronger bottom-line efficiency.
OXY trades at a P/E of 13.7x (below the broader market average) and a P/S of 3.2x. The price-to-book ratio of 1.7x reflects a moderate premium to book value.
The company reported negative free cash flow of $-162.00M, indicating cash consumption over the period. The balance sheet shows $80.46B in total assets with $15.25B in long-term debt against $38.93B in stockholders equity for a debt-to-equity ratio of 0.4, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 11.6%. The business may lack pricing power or face rising costs.'
ROE is positive at ~9.6% on average, adequate but below the threshold typically associated with wide moats.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 25.5% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.4 — conservative capital structure with low financial risk.
TTM revenue has contracted 13.8% — significant decline indicating deteriorating demand.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 10.7% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation