Occidental Petroleum (Occidental Petroleum) Inventory Turnover : 2.38 (As of Dec. 2023)

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What is Occidental Petroleum Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Occidental Petroleum's Cost of Goods Sold for the three months ended in Dec. 2023 was $4,758.00 Mil. Occidental Petroleum's Average Total Inventories for the quarter that ended in Dec. 2023 was $1,998.50 Mil. Occidental Petroleum's Inventory Turnover for the quarter that ended in Dec. 2023 was 2.38.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Occidental Petroleum's Days Inventory for the three months ended in Dec. 2023 was 38.33.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Occidental Petroleum's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.28.

Occidental Petroleum Inventory Turnover Historical Data

The historical data trend for Occidental Petroleum's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Occidental Petroleum Inventory Turnover Chart

Occidental Petroleum Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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10.23

9.52

9.67

9.73

8.89

Occidental Petroleum Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															2.38	2.03	2.08	2.24	2.38

Occidental Petroleum Inventory Turnover Calculation

Occidental Petroleum's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	18148	/ (	(2059	+	2022)	/	2 )
=	18148	/	2040.5
=	8.89

Occidental Petroleum's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	4758	/ (	(1975	+	2022)	/	2 )
=	4758	/	1998.5
=	2.38

Occidental Petroleum (NYSE:OXY.WS) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Occidental Petroleum's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	1998.5	/	4758	*	365 / 4
	=	38.33

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Occidental Petroleum's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	1998.5	/	7172
	=	0.28

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Occidental Petroleum Inventory Turnover Related Terms

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Occidental Petroleum (Occidental Petroleum) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Occidental Petroleum Corp (NYSE:OXY.WS) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

OXY:USA OXY1:Mexico OXY_KZ:Kazakhstan 1OXY:Italy OPC:Germany OPC:Germany OPC:Germany OPC:Germany OXYP34:Brazil

Address

5 Greenway Plaza, Suite 110, Houston, TX, USA, 77046

Website

https://www.oxy.com

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2022, the company reported net proved reserves of 3.8 billion barrels of oil equivalent. Net production averaged 1,159 thousand barrels of oil equivalent per day in 2022 at a ratio of 75% oil and natural gas liquids and 25% natural gas.