Price to FCFE (P/FCFE)
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Occidental Petroleum Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Free Cash Flow to Equity (FCFE)
Occidental Petroleum Corp., FCFE calculation
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The financial data reveals notable trends in cash flow metrics over the five-year period ending in 2024.
- Net Cash Provided by Operating Activities
- This metric exhibits a significant upward trend from 2020 through 2022. Starting at $3,842 million in 2020, it nearly tripled to $10,253 million in 2021 and further increased to $16,810 million in 2022. However, the subsequent years show a decline, with operating cash flow decreasing to $12,308 million in 2023 and slightly further to $11,739 million in 2024. Despite the reduction in the last two years, the values remained well above the 2020 level, indicating sustained operational cash generation capacity relative to the start of the period.
- Free Cash Flow to Equity (FCFE)
- The FCFE figures reveal a substantial improvement over the same period. The company experienced a negative free cash flow of $673 million in 2020, implying cash outflows to equity holders once capital expenditures and working capital changes are accounted for. This turned positive in 2021 with $549 million and increased significantly to $2,829 million in 2022. The upward momentum continued, reaching $5,970 million in 2023 and accelerating further to $9,819 million in 2024. This steady and pronounced increase in FCFE suggests enhanced discretionary cash available to shareholders, pointing to stronger financial flexibility and potential for dividends, share buybacks, or debt reduction.
Overall, the data reflects a strong recovery and robust operational performance peaking around 2022, with operating cash flow tapering modestly thereafter. In contrast, free cash flow to equity has consistently improved year-over-year following 2020, highlighting growing value generated for shareholders and improved financial health through effective capital management.
Price to FCFE Ratio, Current
Occidental Petroleum Corp., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Chevron Corp. | |
| ConocoPhillips | |
| Exxon Mobil Corp. | |
| P/FCFE, Sector | |
| Oil, Gas & Consumable Fuels | |
| P/FCFE, Industry | |
| Energy | |
Based on: 10-K (reporting date: 2024-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Occidental Petroleum Corp., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Chevron Corp. | ||||||
| ConocoPhillips | ||||||
| Exxon Mobil Corp. | ||||||
| P/FCFE, Sector | ||||||
| Oil, Gas & Consumable Fuels | ||||||
| P/FCFE, Industry | ||||||
| Energy | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Occidental Petroleum Corp. Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
The financial data reveals notable trends over the five-year period ending in 2024. The share price exhibited a general upward movement from 26.61 US$ in 2020 to a peak of 58.96 US$ in 2022, followed by a slight decline in the subsequent years, ending at 48.84 US$ in 2024. This indicates a period of growth followed by a partial correction or stabilization in market valuation.
Free cash flow to equity (FCFE) per share showed a significant improvement throughout the period. Starting from a negative value of -0.72 US$ in 2020, FCFE per share turned positive in 2021 and increased substantially in the following years, reaching 10.46 US$ in 2024. This trend suggests a strengthening in the company's ability to generate cash flows attributable to shareholders, reflecting enhanced operational efficiency, profitability, or improved capital management.
The price to FCFE ratio (P/FCFE) diminished markedly from 66.22 in 2021 to 4.67 in 2024. A decreasing P/FCFE ratio generally signifies that the stock price is becoming more attractive relative to the free cash flow generated per share. This could indicate that the market is recognizing the company’s improved cash generation capacity, leading to a lower valuation multiple or increased earnings quality.
- Share Price
- Increased from 26.61 US$ to 58.96 US$ between 2020 and 2022, then declined to 48.84 US$ by 2024.
- FCFE per Share
- Turned positive in 2021 and grew consistently to 10.46 US$ by 2024, indicating improved cash flow performance.
- Price to FCFE Ratio
- Declined significantly from the high level of 66.22 in 2021 to 4.67 in 2024, reflecting a more favorable valuation relative to free cash flow.