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OXY-WT

Occidental Petroleum Corporation

OXY-WT

Occidental Petroleum Corporation • NYSE
$20.01 ▲ 3.25% (+0.63)
Market Cap $39.37 B
52w High $20.30
52w Low $19.00
Dividend Yield 0%
P/E 0
Volume 53.17K
Outstanding Shares 1.94B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.624B ▲ $987M ▼ $830M ▲ 12.53% ▲ $0 ▼ $3.497B ▲
Q2-2025 $6.317B ▼ $1.05B ▲ $431M ▼ 6.823% ▼ $0.27 ▼ $2.95B ▼
Q1-2025 $6.91B ▼ $923M ▼ $931M ▲ 13.473% ▲ $0.808 ▲ $3.567B ▲
Q4-2024 $6.924B ▼ $1.052B ▲ $-125M ▼ -1.805% ▼ $-0.314 ▼ $2.135B ▼
Q3-2024 $7.087B $858M $1.128B 15.916% $1.034 $3.832B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.159B ▼ $83.472B ▼ $46.706B ▼ $36.261B ▲
Q2-2025 $2.326B ▼ $84.36B ▼ $48.184B ▼ $35.722B ▲
Q1-2025 $2.612B ▲ $84.967B ▼ $49.862B ▼ $34.712B ▲
Q4-2024 $2.132B ▲ $85.445B ▼ $50.965B ▲ $34.159B ▼
Q3-2024 $1.759B $85.803B $50.869B $34.674B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $661M ▲ $2.79B ▼ $-1.259B ▲ $-1.695B ▼ $-164M ▲ $1.022B ▲
Q2-2025 $468M ▼ $2.96B ▲ $-1.999B ▼ $-1.243B ▼ $-282M ▼ $962M ▲
Q1-2025 $945M ▲ $2.148B ▼ $-731M ▲ $-932M ▲ $485M ▲ $240M ▼
Q4-2024 $-125M ▼ $3.356B ▼ $-1.79B ▲ $-1.202B ▼ $364M ▲ $1.575B ▼
Q3-2024 $1.14B $3.682B $-9.119B $5.335B $-103M $2.023B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Chemical Segment
Chemical Segment
 $1.21Bn ▲$1.19Bn ▼$1.23Bn ▲$1.17Bn ▼
Midstream Segment
Midstream Segment
 $70.00M ▲$310.00M ▲$330.00M ▲$360.00M ▲
Oil And Gas Segment
Oil And Gas Segment
 $5.62Bn ▲$5.68Bn ▲$5.01Bn ▼$5.40Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Occidental’s earnings profile is very clearly tied to the oil price cycle. After a deep loss during the 2020 downturn, the company swung back to solid profitability as energy markets recovered. Revenue climbed sharply coming out of 2020, peaked in 2022, and has eased back since, reflecting more normal oil and gas prices rather than a collapse in demand. Profitability has followed the same pattern: very strong margins in 2022, then stepping down but still healthy in 2023 and 2024. The business is no longer in crisis mode; it looks more like a mature producer that has reset to a more sustainable level of earnings. The main ongoing risk is exposure to commodity prices: if oil and gas weaken for an extended period, both revenue and profits would likely compress again.

Balance Sheet

Balance Sheet The balance sheet has improved meaningfully from the stressed conditions of a few years ago, but it is not debt‑free. Total assets have been fairly steady, while shareholder equity has rebuilt over time as the company returned to profitability. Most notably, debt has come down substantially from the peak levels seen around 2020, though borrowings still represent a significant obligation. Cash on hand is modest rather than abundant, suggesting the company relies primarily on ongoing cash generation and access to capital markets rather than a very large cash cushion. Overall, leverage looks far more manageable than during the downturn, but the company still carries a meaningful debt load that matters in a low‑price environment.

Cash Flow

Cash Flow Cash generation is a key strength. Operating cash flow has been robust in recent years, even after the post‑2022 normalization in oil prices. The company is investing heavily in its asset base—capital spending has risen compared with the early recovery years—but it has still been able to produce solid free cash flow after those investments. This pattern suggests the core business is throwing off enough cash to cover capital needs, reduce debt, and fund new initiatives, provided commodity prices do not drop sharply for a prolonged period. The flip side is that higher investment, especially into newer low‑carbon projects, raises execution risk and makes discipline around spending and returns particularly important.

Competitive Edge

Competitive Edge Occidental holds a strong position among independent oil and gas producers, anchored by large, low‑cost holdings in the Permian Basin and supported by its OxyChem chemical business, which adds a more stable, industrial revenue stream. Its decades of expertise in using carbon dioxide for enhanced oil recovery give it a specialized operational edge in subsurface and CO2 management that many peers lack. At the same time, the company operates in a highly competitive, cyclical, and capital‑intensive industry. It faces competition from global majors and other low‑cost producers, as well as long‑term demand uncertainty as the world gradually transitions to lower‑carbon energy. Regulatory shifts, climate policy, and public pressure on fossil fuels are structural risks that can affect both its traditional operations and the economics of its new ventures.

Innovation and R&D

Innovation and R&D Occidental stands out in the oil and gas space for aggressively pursuing carbon management technologies. Through its low‑carbon subsidiaries, it is investing heavily in direct air capture, large‑scale carbon storage, and related solutions. The planned STRATOS direct air capture plant and the acquisition of Carbon Engineering are central to this strategy, aiming to position the company as a leader in removing carbon dioxide directly from the atmosphere. The company is also exploring “net‑zero oil,” carbon removal credits, and CO2‑based products, all of which could open up new revenue streams if customers and regulators place a premium on decarbonization. However, these technologies are still early stage, capital‑intensive, and dependent on policy support, partner demand, and cost reductions over time. The upside is significant if they scale successfully, but so are the execution and commercialization risks.

Summary

Occidental has transitioned from a stressed balance sheet and heavy losses in 2020 to a more stable, profitable footing, helped by stronger energy markets and active debt reduction. The core oil and gas business is now generating solid cash, though it remains inherently cyclical and highly sensitive to commodity prices. Strategically, the company is trying to straddle two worlds: a traditional hydrocarbon producer with strong Permian assets and an emerging carbon‑management platform built around direct air capture and CO2 storage. This dual approach could provide differentiation and new growth avenues in a decarbonizing world, but it also adds complexity and long‑term execution risk. Key things to watch include: how the company manages its remaining debt, how resilient cash flows remain if oil prices soften, and whether its large‑scale carbon projects come online on time, on budget, and with paying customers. For anyone looking at OXY‑WT, the underlying value will ultimately hinge on how well Occidental balances its cyclical core business with its ambitious, but still developing, low‑carbon strategy.