Occidental Petroleum (OXY) FY2024 results: revenue $22.0 billion, down 4.9% on the year
Occidental Petroleum Corp. (OXY) reported revenue of $22.0 billion for fiscal 2024, the year ended 31 December 2024, down 4.9% on the year before. Net income was $2.4 billion, down 49.7%, and diluted earnings per share $2.44. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2025.
Revenue
$22.0 billion
-4.9% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$2.4 billion
-49.7% on the year
FY2017FY2024
Diluted EPS
$2.44
-37.4% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
11,439
12,308
16,810
-7.1%
Capital expenditure
6,263
5,696
4,497
+10.0%
Free cash flow
5,176
6,612
12,313
-21.7%
Free cash flow margin
23.5%
28.6%
33.6%
Cash from investing
-14,590
-6,980
-4,872
Cash from financing
3,844
-4,890
-13,715
Depreciation and amortisation
6,951
6,449
6,926
+7.8%
Share-based compensation
213
203
258
+4.9%
Buybacks
27.0
1,798
3,099
-98.5%
Dividends paid
1,446
1,365
1,184
+5.9%
Dividend per share
$0.88
$0.72
$0.52
+22.2%
Diluted shares, weighted
967m
961m
1,002m
+0.6%
Shares outstanding at period end
938m
879m
900m
+6.7%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
34,159
30,250
30,085
+12.9%
Non-controlling interest
321
99.0
0.0
+224.2%
Debt
25,323
19,738
19,146
+28.3%
Operating lease liabilities
469
727
657
-35.5%
Finance lease liabilities
658
591
546
+11.3%
Other liabilities
24,515
22,603
22,175
+8.5%
Total liabilities and equity
85,445
74,008
72,609
+15.5%
Goodwill
668
n/a
n/a
Cash and equivalents
2,125
1,426
984
+49.0%
Receivables
2,839
3,195
4,281
-11.1%
Inventory
1,756
2,022
2,059
-13.2%
Other assets
78,057
67,365
65,285
+15.9%
Total assets
85,445
74,008
72,609
+15.5%
10-K for the year ended 31 December 2024, filed 18 February 2025: the filing.