Occidental Petroleum (OXY) FY2019 results: revenue $20.9 billion, up 17.3% on the year
Occidental Petroleum Corp. (OXY) reported revenue of $20.9 billion for fiscal 2019, the year ended 31 December 2019, up 17.3% on the year before. Net income was -$985 million, and diluted earnings per share $-1.22. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$20.9 billion
+17.3% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
-$985 million
FY2012FY2019
Diluted EPS
-$1.22
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
20,911
17,824
12,508
+17.3%
Cost of revenue
2,791
2,833
2,938
-1.5%
Gross profit
18,120
14,991
9,570
+20.9%
Gross margin
86.7%
84.1%
76.5%
Selling, general and administrative
893
585
n/a
+52.6%
Pre-tax income
354
5,608
1,328
-93.7%
Income tax
861
1,477
17.0
-41.7%
Effective tax rate
243.2%
26.3%
1.3%
Net income
-985
4,131
1,311
Net margin
-4.7%
23.2%
10.5%
Diluted EPS
-$1.22
$5.39
$1.70
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
7,375
7,669
4,861
-3.8%
Capital expenditure
6,355
4,975
3,599
+27.7%
Free cash flow
1,020
2,694
1,262
-62.1%
Free cash flow margin
4.9%
15.1%
10.1%
Cash from investing
-29,027
-3,206
-3,079
Cash from financing
22,193
-3,102
-2,343
Depreciation and amortisation
6,140
3,977
4,002
+54.4%
Share-based compensation
208
180
150
+15.6%
Buybacks
237
1,248
25.0
-81.0%
Dividends paid
2,624
2,374
2,346
+10.5%
Dividend per share
$3.14
$3.10
$3.06
+1.3%
Diluted shares, weighted
810m
763m
766m
+6.1%
Shares outstanding at period end
1,044m
895m
893m
+16.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
34,232
21,330
-258
+60.5%
Non-controlling interest
n/a
0.0
0.0
Debt
38,588
10,400
9,900
+271.0%
Operating lease liabilities
872
n/a
n/a
Finance lease liabilities
347
n/a
n/a
Other liabilities
33,151
10,429
32,384
+217.9%
Total liabilities and equity
107,190
42,159
42,026
+154.3%
Fixed assets
80,469
31,437
31,174
+156.0%
Intangible assets
n/a
8.0
n/a
Cash and equivalents
3,032
3,033
1,672
-0.0%
Receivables
4,233
4,893
4,145
-13.5%
Inventory
1,581
1,260
1,246
+25.5%
Other assets
17,875
1,528
3,789
+1,069.8%
Total assets
107,190
42,159
42,026
+154.3%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.