Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the 2021–2024 period Occidental’s balance sheet shows a clear strengthening of equity and an overall increase in asset size. Total assets fell slightly from $75.0B in 2021 to $72.6B in 2022, then ticked up to $74.0B in 2023 and rose more materially to $85.4B in 2024 (+15.5% year-over-year). Stockholders’ equity moved from $20.3B in 2021 to $30.1B in 2022 and then held near $30.2B–$34.2B through 2024, producing an equity-to-assets ratio that improved sharply from ~27% in 2021 to ~41% in 2022 and then stabilized around 40% in 2023–24. Liabilities fell markedly from $54.7B in 2021 to $42.5B in 2022 (a significant deleveraging), then rose modestly to $43.8B in 2023 and to $51.3B in 2024. As a result the company’s leverage (liabilities/assets) dropped from ~73% in 2021 to ~59% in 2022–23 and settled near ~60% in 2024. The 2022 shift looks like a meaningful reduction in leverage and a stronger equity cushion; the 2024 increases in both assets and liabilities suggest growth or revaluation activity financed in part by additional liabilities while maintaining a healthier equity share than in 2021. Given Occidental’s oil & gas business—capital intensive and cyclical—these moves are consistent with post-cycle deleveraging followed by renewed capital deployment when commodity conditions permit. (Note: the 2025 row shows zeros and appears to be missing data, so no 2025 conclusions are drawn.)
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.