Occidental Petroleum (OXY) FY2023 results: revenue $23.2 billion, down 36.8% on the year
Occidental Petroleum Corp. (OXY) reported revenue of $23.2 billion for fiscal 2023, the year ended 31 December 2023, down 36.8% on the year before. Net income was $4.7 billion, down 64.7%, and diluted earnings per share $3.90. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2024.
Revenue
$23.2 billion
-36.8% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$4.7 billion
-64.7% on the year
FY2016FY2023
Diluted EPS
$3.90
-68.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
12,308
16,810
10,434
-26.8%
Capital expenditure
5,696
4,497
2,870
+26.7%
Free cash flow
6,612
12,313
7,564
-46.3%
Free cash flow margin
28.6%
33.6%
29.1%
Cash from investing
-6,980
-4,872
-1,253
Cash from financing
-4,890
-13,715
-8,572
Depreciation and amortisation
6,449
6,926
8,447
-6.9%
Share-based compensation
203
258
287
-21.3%
Buybacks
1,798
3,099
8.0
-42.0%
Dividends paid
1,365
1,184
839
+15.3%
Dividend per share
$0.72
$0.52
$0.04
+38.5%
Diluted shares, weighted
961m
1,002m
959m
-4.1%
Shares outstanding at period end
879m
900m
1,083m
-2.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
30,250
30,085
20,327
+0.5%
Non-controlling interest
99.0
0.0
n/a
Debt
19,738
19,146
29,028
+3.1%
Operating lease liabilities
727
657
585
+10.7%
Finance lease liabilities
591
546
504
+8.2%
Other liabilities
22,603
22,175
24,592
+1.9%
Total liabilities and equity
74,008
72,609
75,036
+1.9%
Cash and equivalents
1,426
984
2,764
+44.9%
Receivables
3,195
4,281
4,208
-25.4%
Inventory
2,022
2,059
1,846
-1.8%
Other assets
67,365
65,285
66,218
+3.2%
Total assets
74,008
72,609
75,036
+1.9%
10-K for the year ended 31 December 2023, filed 14 February 2024: the filing.