Occidental Petroleum (OXY) FY2018 results: revenue $17.8 billion, up 42.5% on the year
Occidental Petroleum Corp. (OXY) reported revenue of $17.8 billion for fiscal 2018, the year ended 31 December 2018, up 42.5% on the year before. Net income was $4.1 billion, up 215.1%, and diluted earnings per share $5.39. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$17.8 billion
+42.5% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$4.1 billion
+215.1% on the year
FY2011FY2018
Diluted EPS
$5.39
+217.1% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
17,824
12,508
10,090
+42.5%
Cost of revenue
2,833
2,938
n/a
-3.6%
Gross profit
14,991
9,570
n/a
+56.6%
Gross margin
84.1%
76.5%
n/a
Selling, general and administrative
585
n/a
n/a
Pre-tax income
5,608
1,328
-1,664
+322.3%
Income tax
1,477
17.0
-662
+8,588.2%
Effective tax rate
26.3%
1.3%
n/a
Net income
4,131
1,311
-574
+215.1%
Net margin
23.2%
10.5%
-5.7%
Diluted EPS
$5.39
$1.70
-$0.75
+217.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
7,669
4,861
3,383
+57.8%
Capital expenditure
4,975
3,599
2,717
+38.2%
Free cash flow
2,694
1,262
666
+113.5%
Free cash flow margin
15.1%
10.1%
6.6%
Cash from investing
-3,206
-3,079
-4,742
Cash from financing
-3,102
-2,343
-802
Depreciation and amortisation
3,977
4,002
4,268
-0.6%
Share-based compensation
180
150
121
+20.0%
Buybacks
1,248
25.0
22.0
+4,892.0%
Dividends paid
2,374
2,346
2,309
+1.2%
Dividend per share
$3.10
$3.06
$3.02
+1.3%
Diluted shares, weighted
763m
766m
764m
-0.3%
Shares outstanding at period end
895m
893m
892m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
21,330
-258
21,497
Non-controlling interest
0.0
0.0
n/a
Debt
10,400
9,900
9,800
+5.1%
Other liabilities
10,429
32,384
11,812
-67.8%
Total liabilities and equity
42,159
42,026
43,109
+0.3%
Fixed assets
31,437
31,174
32,337
+0.8%
Intangible assets
8.0
n/a
n/a
Investments
n/a
n/a
1,401
Cash and equivalents
3,033
1,672
2,233
+81.4%
Receivables
4,893
4,145
3,989
+18.0%
Inventory
1,260
1,246
866
+1.1%
Other assets
1,528
3,789
2,283
-59.7%
Total assets
42,159
42,026
43,109
+0.3%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.