Occidental Petroleum Corp., current enterprise value calculation

Current share price (P)	$50.91
No. shares of common stock outstanding	938,343,042
US$ in millions
Common equity (market value)¹	47,771)
Add: Preferred stock, at $1.00 per share par value (per books)	8,287)
Add: Non-controlling interest (per books)	99)
Total equity	56,157)
Add: Current maturities of long-term debt (per books)	1,202)
Add: Long-term debt, net, excluding current maturities (per books)	18,536)
Total equity and debt	75,895)
Less: Cash and cash equivalents	1,426)
Enterprise value (EV)	74,469)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 50.91 × 938,343,042

Occidental Petroleum Corp., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$57.30	$58.96	$38.92	$26.61	$32.74
No. shares of common stock outstanding¹	879,499,439	900,072,447	934,063,989	931,554,718	895,224,961
US$ in millions
Common equity (market value)³	50,395)	53,068)	36,354)	24,789)	29,310)
Add: Preferred stock, at $1.00 per share par value (book value)	8,287)	9,762)	9,762)	9,762)	9,762)
Add: Non-controlling interest (book value)	99)	—)	—)	—)	—)
Total equity	58,781)	62,830)	46,116)	34,551)	39,072)
Add: Current maturities of long-term debt (book value)	1,202)	165)	186)	440)	51)
Add: Long-term debt, net, excluding current maturities (book value)	18,536)	19,670)	29,431)	35,745)	38,537)
Total equity and debt	78,519)	82,665)	75,733)	70,736)	77,660)
Less: Cash and cash equivalents	1,426)	984)	2,764)	2,008)	3,032)
Enterprise value (EV)	77,093)	81,681)	72,969)	68,728)	74,628)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Occidental Petroleum Corp. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 57.30 × 879,499,439

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Occidental Petroleum Corp. EV increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Occidental Petroleum Corp. (NYSE:OXY)

Enterprise Value (EV)