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Friday 6 November 2026 Export APA’s income statement to Excel — free account

APA Corporation

APA Energy Oil & Gas E&P

APA Corporation’s revenue for fiscal 2025 (year ended December 2025) was $9.2 billion, down 5.31% from fiscal 2024.

Revenue
+39.4%
EPS
+252.6%
Free cash flow
+81.1%
Total debt
−26.6%

Quarter to September 2026, against a year earlier

43.71 0.78 −1.75%
Market cap
$15.2B
P/E
7.1×
Fwd P/E
7.7×
Dividend yield
2.29%
F-score
5/9
Altman Z
1.44
Beneish M
−3.63
Dividend safety
73/100
Overview Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Sold, $m 1.23
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — 1 — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 15,230.00
Revenue ttm 9,404.00
Net income ttm 2,495.00
Free cash flow ttm 4,444.00
Net debt Q 3,220.00
Valuation
P/E 7.07
Forward P/E 7.74
Price / sales 1.62
Forward P/S Powerpack
Price / FCF 10.51
Price / book 1.88
Financial health
Current ratio Q 0.85 (below 1: weak)
Debt / equity Q 0.41 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q +39.35% (above 0%: growing)
Operating income growth Q +134.83% (above 0%: growing)
EPS, this year +82.37% (at or above 15%: strong)
EPS, next year A −22.87% (below 0%: weak)
Revenue, next year A +4.93%
EPS, past 5 yrs —
EPS, next 5 yrs A +5.23%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.0×, against a ten-year median of 2.3×; over the ten years it ranged from 1.0× in 2025 to 6.5× in 2016.
P/E against its own 10 years 42.74%
10-year low 10-year high
P/S against its own 10 years 64.03%
10-year low 10-year high
P/B against its own 10 years 45.36%
10-year low 10-year high
EV/Sales against its own 10 years 35.72%
10-year low 10-year high
EV/FCF against its own 10 years 42.52%
10-year low 10-year high

Dividends

Yield
2.29%
Annual rate
1.00
Payout ratio
16.2%
Growth, 2018–26
0.00%/yr
  1. 1.00 ’18
  2. 1.00 ’19 +0
  3. 0.33 ’20 −68
  4. 0.14 ’21 −58
  5. 0.63 ’22 +355
  6. 1.00 ’23 +60
  7. 1.00 ’24 +0
  8. 1.00 ’25 +0
  9. 1.00 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 87 625 516 75
Receivables 1,610 1,959 1,062 1,583
Inventory — — — —
Other 765 820 543 621
2,462 3,404 2,121 2,279
2023 2024 2025 Q'26
Payables 658 1,224 871 886
ST’ Debt 2 53 213 3
Other 1,744 1,678 1,487 1,807
2,404 2,955 2,571 2,696

Compound Annual Growth %

10y 5y 3y
Sales 2.96% 16.44% (8.74%)
Cash Flow 5.48% 26.77% (2.76%)
Earnings 0.00% 0.00% (26.92%)
Book Value (2.99%) 0.00% 73.32%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.44 Actual 1.94

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.62 0.91 Beat by 0.29
Q1 FY26 1.01 1.38 Beat by 0.37
Q2 FY26 1.85 1.89 Beat by 0.04
Q3 FY26 1.44 1.94 Beat by 0.50
Q4 FY26 1.59 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.26 2.11 2.01 — —
’25 0.96 1.67 0.57 0.79 3.99
’24 0.44 1.46 (0.60) 0.96 2.27
’23 0.78 1.23 1.49 5.78 9.25
’22 5.43 2.71 1.28 1.38 11.02
’21 1.02 0.82 (0.30) 1.05 2.59
’20 (11.86) (1.02) (0.02) (0.04) (12.86)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,215 2,399 2,812 — —
’25 2,612 2,612 2,018 1,978 9,220
’24 1,903 2,792 2,540 2,502 9,737
’23 2,030 1,961 2,309 1,892 8,192
’22 3,828 3,052 2,872 2,380 12,132
’21 2,092 1,782 1,651 2,403 7,928
’20 1,279 596 1,144 1,289 4,308
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 554 1,706 1,376 — —
’25 1,096 1,181 1,460 808 4,545
’24 368 877 1,339 1,036 3,620
’23 335 1,000 764 1,030 3,129
’22 891 1,535 1,104 1,413 4,943
’21 671 969 771 1,085 3,496
’20 502 84 304 498 1,388
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 8 1,135 1,376 — —
’25 306 1,085 760 (372) 1,779
’24 (135) 823 403 (382) 709
’23 (193) 427 136 426 796
’22 1,280 1,130 700 26 3,136
’21 418 842 594 532 2,386
’20 97 (251) 71 197 114
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing −16.2% a year for ten years.

Implied
−16.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 5,354 6,423 7,764 6,553 4,308 7,928 12,132 8,192 9,737 9,220 9,404 +6.2% 9,675 8,629 8,622 (2.2%)
Gross margin, % 96.26 96.96 91.14 93.16 85.35 76.74 82.34 86.87 84.81 83.80 0.00 (12.5) pt
EBT (1,682) 918 958 (3,008) (4,840) 1,891 5,734 2,883 1,535 2,791 3,796 n/m
EBT margin, % (31.42) 14.29 12.34 (45.90) (112.35) 23.85 47.26 35.19 15.76 30.27 40.37 +61.7 pt
Net income (1,273) 1,503 286 (3,682) (4,904) 1,313 4,082 3,207 1,118 1,692 2,495 n/m
Per share, $
Per share, $ Revenue 14.13 16.86 20.32 17.38 11.40 21.20 36.54 26.60 27.58 25.68 27.02 +6.9%
Earnings (3.71) 3.42 0.11 (9.43) (12.86) 2.60 11.05 9.26 2.28 3.99 6.18 n/m
Cash flow 6.41 6.37 9.89 7.60 3.67 9.35 14.89 10.16 10.26 12.66 12.77 +7.9%
Capex (4.79) (5.25) (9.86) (5.95) (3.37) (2.97) (5.44) (7.57) (8.25) (7.70) 0.00 +5.4%
Free cash flow 1.62 1.12 0.03 1.66 0.30 6.38 9.45 2.58 2.01 4.96 12.77 +13.2%
Book value 20.26 23.07 23.07 11.84 (1.71) (1.92) 4.05 11.98 18.02 19.51 23.31 (0.4%)
Shares, m 379 381 382 377 378 374 332 308 353 359 354 (0.6%)
Valuation, ×
Valuation, × P/E 0.00 12.95 262.50 0.00 0.00 10.30 4.03 3.88 10.22 6.13 7.07 31.0
P/S 4.51 2.63 1.29 1.47 1.25 1.27 1.19 1.36 0.84 0.95 1.62 1.7
P/B 3.15 1.92 1.14 2.16 0.00 0.00 10.77 3.01 1.28 1.25 1.88 2.5
EV/Sales 6.34 3.69 2.26 2.74 3.22 2.18 1.62 1.98 1.39 1.38 1.96 2.7
EV/FCF 55.18 55.62 1,596.14 28.79 121.70 7.24 6.28 20.38 19.14 7.17 12.74 191.8
Cash, $m
Cash, $m Operating cash flow 2,430 2,428 3,777 2,867 1,388 3,496 4,943 3,129 3,620 4,545 4,444 +7.2%
Capex (1,815) (2,002) (3,766) (2,243) (1,274) (1,110) (1,807) (2,333) (2,911) (2,766) (2,997) +4.8%
Free cash flow 615 426 11 624 114 2,386 3,136 796 709 1,779 4,444 +12.5%
Balance, $m
Balance, $m Working capital 1,398 1,161 486 106 538 263 (208) 58 449 (450) (417) n/m
Net debt 7,167 6,816 7,530 8,319 8,510 7,208 5,208 5,101 5,419 3,977 3,220 (6.3%)
Shareholders’ equity 7,679 8,791 8,812 4,465 (645) (717) 1,345 3,691 6,362 7,003 8,112 (1.0%)
Returns, %
Returns, % ROA (5.85) 5.87 0.18 (17.90) (31.50) 7.47 27.78 20.11 4.64 7.72 12.20 +13.6 pt
ROIC (7.08) 3.68 3.66 (14.71) (38.46) 18.21 54.69 20.49 8.14 15.89 20.94 +23.0 pt
ROE (16.37) 15.83 0.45 (53.52) (254.45) (142.88) 1,170.06 113.38 16.00 21.46 28.98 +37.8 pt
People
People Employees 3,727 3,356 3,420 3,163 2,272 2,253 2,273 2,271 2,305 1,791 — (7.8%)
Revenue/emp, $m 1.44 1.91 2.27 2.07 1.90 3.52 5.34 3.61 4.22 5.15 — +15.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

APA Corporation vs peers in Oil & Gas E&P (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
EQT EQT Corporation $31.7B 12.0× 14.3× −9.61% (below 0%: shrinking) −16.67% (below 0%: shrinking) +12.15% (above 0%: growing) 73.39% 25.95% Compare
EXE Expand Energy Corporation $19.7B 7.4× 7.9× +10.79% (above 0%: growing) −2.61% (below 0%: shrinking) +2.49% (above 0%: growing) 74.25% 19.48% Compare
TPL Texas Pacific Land Corporation $18.8B 32.3× 35.9× +34.62% (above 0%: growing) +38.33% (above 0%: growing) +83.99% (above 0%: growing) 100.00% 76.00% Compare
PR Permian Resources Corporation $17.9B 10.9× 11.1× +48.11% (above 0%: growing) +525.00% (above 0%: growing) −56.18% (below 0%: shrinking) 0.00% 45.35% Compare
APA APA Corporation $15.2B 7.1× 7.7× +39.35% (above 0%: growing) +252.63% (above 0%: growing) +81.05% (above 0%: growing) 0.00% 42.67%
RRC Range Resources Corporation $11.7B 13.3× 13.3× +12.60% (above 0%: growing) +22.95% (above 0%: growing) +59.63% (above 0%: growing) 93.57% 29.00% Compare
AR Antero Resources Corporation $11.2B 8.2× 8.7× +28.74% (above 0%: growing) +377.72% (above 0%: growing) −55.76% (below 0%: shrinking) 45.18% 25.07% Compare
CHRD Chord Energy Corporation $7.2B 8.3× 6.8× +30.01% (above 0%: growing) +46.02% (above 0%: growing) +257.56% (above 0%: growing) 0.00% 29.60% Compare
SM SM Energy Company $7.1B 7.2× 5.5× +167.38% (above 0%: growing) −70.93% (below 0%: shrinking) +369.43% (above 0%: growing) 73.55% 10.88% Compare
Median of peers $14.8B 9.6× 9.9× +29.37% +30.64% +35.89% 73.47% 27.48%

All 74 Oil & Gas E&P stocks →

From the latest earnings call

Updated

  • CEO John Christmann said U.S. oil production exceeded guidance, while higher oil prices affected APA’s adjusted production under its Egypt production-sharing contract.
  • CFO Ben Rodgers raised APA’s 2026 free cash flow outlook to $2.9 billion and said the company had established a new $2 billion net debt target.

Largest institutional holders 13F, quarter to 30 June 2026

Holder Shares Stake Change
Vanguard 43.72m — +226.29k
BlackRock 36.02m — +2.24m
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 31.70m — −319.81k
State Street 25.18m — +377.43k
Dimensional Fund Advisors 16.84m — +461.44k
Invesco 15.32m — −436.89k
Charles Schwab 13.30m — +956.13k
Geode Capital Management 12.86m — +2.34m
Fidelity (FMR) 9.83m — −2.94m
Morgan Stanley 9.12m — +125.12k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

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APA metrics, ten years each

stockrow.com/APA · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com