APA (APA) Financials

$38.98 +1.87 (+5.04%)

Closing price 04:00 PM Eastern

Extended Trading

$38.82 -0.16 (-0.41%)

As of 06:50 PM Eastern

Annual Income Statements for APA

This table shows APA's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-3,553	-4,860	973	3,674	3,207	1,118	1,692
Consolidated Net Income / (Loss)	-3,682	-4,904	1,313	4,082	6,062	1,922	3,126
Net Income / (Loss) Continuing Operations	-3,682	-4,904	867	3,925	3,207	1,118	1,692
Total Pre-Tax Income	-3,008	-4,840	1,891	5,734	2,883	1,535	2,791
Total Operating Income	-3,051	-4,872	1,445	5,577	2,883	1,535	2,791
Total Gross Profit	6,062	3,645	5,638	9,832	7,116	8,258	7,726
Total Revenue	6,510	4,276	7,482	11,975	8,192	9,737	9,220
Operating Revenue	6,545	4,499	7,482	11,975	8,192	9,737	9,220
Total Cost of Revenue	448	631	1,844	2,143	1,076	1,479	1,494
Operating Cost of Revenue	448	631	1,844	2,143	1,076	1,479	1,494
Total Operating Expenses	9,113	8,517	4,193	4,255	5,309	8,202	6,429
Selling, General & Admin Expense	406	290	376	483	351	372	350
Exploration Expense	805	274	155	305	195	313	131
Depreciation Expense	2,680	1,772	1,360	1,233	1,540	2,266	2,304
Other Operating Expenses / (Income)	2,223	1,626	2,072	2,208	2,071	2,475	2,004
Impairment Charge	2,949	4,501	208	0.00	61	1,129	44
Restructuring Charge	50	54	22	26	15	168	102
Total Other Income / (Expense), net	43	32	0.00	0.00	0.00	0.00	0.00
Income Tax Expense	674	64	578	1,652	-324	417	1,099
Basic Earnings per Share	($9.43)	($12.86)	$2.60	$11.05	$9.26	$2.28	$3.99
Weighted Average Basic Shares Outstanding	377M	378M	374M	332M	308M	353M	359M
Diluted Earnings per Share	($9.43)	($12.86)	$2.59	$11.02	$9.25	$2.27	$3.99
Weighted Average Diluted Shares Outstanding	377M	378M	375M	333M	309M	353M	359M
Weighted Average Basic & Diluted Shares Outstanding	-	-	346.78M	310.95M	301.82M	364.06M	353.25M
Cash Dividends to Common per Share	$1.00	$0.10	$0.24	$0.75	$1.00	$1.00	$1.00

This table shows APA's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	459	1,773	132	1,237	-139	354	347	1,206	278	-139	446
Consolidated Net Income / (Loss)	555	1,864	212	1,161	-362	425	418	1,268	483	957	543
Net Income / (Loss) Continuing Operations	555	1,863	146	1,316	-139	235	418	1,259	278	-263	543
Total Pre-Tax Income	833	540	447	928	-340	500	763	1,028	511	489	830
Total Operating Income	833	863	381	1,451	-340	310	763	1,268	511	249	830
Total Gross Profit	2,009	1,619	1,590	4,748	2,125	1,826	2,034	3,962	1,724	6.00	2,049
Total Revenue	0.00	6,162	1,837	5,079	2,540	7,627	2,612	4,370	2,018	220	2,215
Operating Revenue	2,309	-	1,837	5,079	2,540	2,312	2,612	4,370	2,018	220	2,215
Total Cost of Revenue	300	273	247	331	415	486	578	408	294	214	166
Operating Cost of Revenue	300	273	247	331	415	486	578	408	294	214	166
Total Operating Expenses	1,476	162	1,456	3,297	2,880	2,333	1,849	2,694	1,507	957	1,385
Selling, General & Admin Expense	139	75	93	85	92	102	98	66	95	91	115
Exploration Expense	49	51	148	71	29	65	30	43	22	36	26
Depreciation Expense	418	423	430	588	595	653	643	530	565	566	553
Other Operating Expenses / (Income)	565	188	511	2,438	624	666	463	2,044	513	-1,016	518
Restructuring Charge	5.00	4.00	27	115	14	12	37	11	18	36	7.00
Total Other Income / (Expense), net	0.00	-	0.00	173	0.00	-	0.00	354	0.00	-354	0.00
Income Tax Expense	278	-	235	308	-201	75	345	363	233	158	287
Basic Earnings per Share	$1.49	$5.75	$0.44	$1.46	($0.60)	$0.98	$0.96	$1.67	$0.57	$0.79	$1.26
Weighted Average Basic Shares Outstanding	308M	308M	302M	371M	370M	353M	364M	361M	357M	359M	354M
Diluted Earnings per Share	$1.49	$5.75	$0.44	$1.46	($0.60)	$0.97	$0.96	$1.67	$0.57	$0.79	$1.26
Weighted Average Diluted Shares Outstanding	308M	309M	302M	372M	370M	353M	364M	361M	358M	359M	354M
Weighted Average Basic & Diluted Shares Outstanding	306.72M	301.82M	371.19M	369.90M	369.95M	364.06M	360.85M	357.79M	354.67M	353.25M	353.47M
Cash Dividends to Common per Share	$0.25	-	$0.25	$0.25	$0.25	-	$0.25	$0.25	$0.25	-	$0.25

This table details how cash moves in and out of APA's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-467	15	40	-57	-158	538	-109
Net Cash From Operating Activities	2,867	1,388	3,496	4,943	3,129	3,620	4,545
Net Cash From Continuing Operating Activities	2,867	1,388	3,496	4,943	3,129	3,620	4,545
Net Income / (Loss) Continuing Operations	-3,682	-4,904	1,313	4,082	3,207	1,118	1,692
Consolidated Net Income / (Loss)	-3,682	-4,904	1,313	4,082	3,207	1,118	1,692
Depreciation Expense	2,680	1,772	1,360	1,233	1,540	2,266	2,304
Non-Cash Adjustments To Reconcile Net Income	3,814	4,731	1,000	-705	512	1,499	-180
Changes in Operating Assets and Liabilities, net	55	-211	-177	333	-2,130	-1,263	729
Net Cash From Investing Activities	-3,446	-1,466	-833	-1,511	-2,138	-924	-2,153
Net Cash From Continuing Investing Activities	-3,446	-1,462	-833	-1,511	-2,138	-924	-2,153
Purchase of Property, Plant & Equipment	-2,634	-1,270	-1,101	-1,807	-2,333	-2,911	-2,766
Acquisitions	-671	0.00	0.00	-734	-24	0.00	0.00
Divestitures	718	166	256	1,002	257	2,037	611
Other Investing Activities, net	-859	-358	12	28	-38	-50	2.00
Net Cash From Financing Activities	112	93	-2,623	-3,489	-1,149	-2,158	-2,501
Net Cash From Continuing Financing Activities	112	93	-2,623	-3,489	-1,149	-2,158	-2,501
Repayment of Debt	-55	-44	-42	-1,497	-274	-2,791	-2,277
Payment of Dividends	-681	-237	-331	-569	-546	-621	-790
Issuance of Debt	1,385	1,616	392	0.00	0.00	1,500	846
Other Financing Activities, net	-1,148	-1,242	-2,642	-1,423	-329	-246	-280
Cash Interest Paid	394	419	442	322	329	372	281
Cash Income Taxes Paid	649	212	633	1,431	1,271	1,097	999

This table details how cash moves in and out of APA's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-47	-8.00	15	58	-96	561	-558	40	368	41	-223
Net Cash From Operating Activities	764	1,030	368	877	1,339	1,036	1,096	1,181	1,460	808	554
Net Cash From Continuing Operating Activities	764	1,030	368	877	1,339	1,036	1,096	1,181	1,460	808	554
Net Income / (Loss) Continuing Operations	555	1,864	212	620	-139	425	418	665	278	331	543
Consolidated Net Income / (Loss)	555	1,864	212	620	-139	425	418	665	278	331	543
Depreciation Expense	418	423	430	588	595	653	643	530	565	566	553
Non-Cash Adjustments To Reconcile Net Income	75	350	216	-155	1,141	271	164	-228	-157	41	63
Changes in Operating Assets and Liabilities, net	-284	-1,607	-490	-176	-258	-313	-129	214	774	-130	-605
Net Cash From Investing Activities	-667	-356	-88	-64	-855	83	-786	-95	-700	-572	-542
Net Cash From Continuing Investing Activities	-667	-356	-88	-64	-855	83	-786	-95	-700	-572	-542
Purchase of Property, Plant & Equipment	-629	-575	-467	-693	-930	-758	-777	-667	-719	-590	-546
Other Investing Activities, net	-39	15	-76	-73	80	-44	-9.00	1.00	-	-3.00	4.00
Net Cash From Financing Activities	-144	-682	-265	-755	-580	-558	-868	-1,046	-392	-195	-235
Net Cash From Continuing Financing Activities	-144	-682	-265	-755	-580	-558	-868	-1,046	-392	-195	-235
Repayment of Debt	-64	-199	-18	-491	-503	-1,781	-925	134	-1,918	-1.00	-82
Payment of Dividends	-131	-160	-146	-145	-202	-128	-217	-181	-263	-129	-153
Issuance of Debt	6.00	-202	0.00	1,565	127	-190	1,279	-900	900	-	0.00
Other Financing Activities, net	45	-121	-101	-1,684	-2.00	1,541	-1,005	-99	889	-65	0.00
Cash Interest Paid	110	51	104	74	128	66	118	37	98	28	88
Cash Income Taxes Paid	391	404	366	200	310	221	296	246	220	237	280

This table presents APA's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	12,746	13,303	13,147	15,244	19,390	17,761
Total Current Assets	1,846	2,380	2,708	2,462	3,404	2,121
Cash & Equivalents	262	302	245	87	625	516
Accounts Receivable	908	1,394	1,466	1,610	1,959	1,062
Other Current Assets	676	684	997	765	820	543
Plant, Property, & Equipment, net	8,819	8,335	9,012	10,038	12,646	12,748
Plant, Property & Equipment, gross	43,629	42,548	43,418	45,942	45,693	46,488
Accumulated Depreciation	34,810	34,213	34,406	35,904	33,047	33,740
Total Noncurrent Assets	2,081	2,588	1,427	2,744	3,340	2,892
Noncurrent Deferred & Refundable Income Taxes	-	-	39	1,758	2,703	2,328
Other Noncurrent Operating Assets	526	1,223	764	549	637	564
Total Liabilities & Shareholders' Equity	12,746	13,303	13,147	15,244	19,390	17,761
Total Liabilities	12,783	13,308	11,802	11,553	13,028	10,758
Total Current Liabilities	1,308	2,117	2,916	2,404	2,955	2,571
Short-Term Debt	2.00	215	2.00	2.00	53	213
Accounts Payable	444	731	771	658	1,224	871
Other Current Liabilities	862	1,171	2,143	1,744	1,678	1,487
Total Noncurrent Liabilities	11,475	11,191	8,886	9,149	10,073	8,187
Long-Term Debt	8,770	7,295	5,451	5,186	5,991	4,280
Asset Retirement Reserve & Litigation Obligation	1,888	2,089	1,940	2,362	2,591	2,699
Other Noncurrent Operating Liabilities	602	1,659	1,181	1,230	1,477	1,208
Total Equity & Noncontrolling Interests	-645	-717	1,345	3,691	6,362	7,003
Total Preferred & Common Equity	-1,639	-1,595	423	2,655	5,280	6,093
Total Common Equity	-1,639	-1,595	423	2,655	5,280	6,093
Common Stock	11,997	11,907	11,682	11,389	13,460	13,124
Retained Earnings	-10,461	-9,488	-5,814	-2,959	-2,155	-721
Treasury Stock	-3,189	-4,036	-5,459	-5,790	-6,037	-6,320
Accumulated Other Comprehensive Income / (Loss)	14	22	14	15	12	10
Noncontrolling Interest	994	878	922	1,036	1,082	910

This table presents APA's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	13,244	13,545	15,244	14,952	20,195	19,376	19,390	18,531	18,078	17,699	18,079
Total Current Assets	2,599	2,800	2,462	2,506	2,918	3,620	3,404	2,444	2,288	1,973	2,289
Cash & Equivalents	142	95	87	102	160	64	625	67	107	475	293
Accounts Receivable	1,364	1,753	1,610	1,597	1,936	1,652	1,959	1,822	1,509	1,014	1,456
Other Current Assets	1,093	952	765	807	822	813	820	555	672	484	540
Plant, Property, & Equipment, net	9,368	9,500	10,038	10,143	14,456	12,601	12,646	12,780	12,641	12,719	12,824
Plant, Property & Equipment, gross	44,429	44,968	45,942	46,479	50,400	45,029	45,693	46,475	45,634	46,262	47,116
Accumulated Depreciation	35,061	35,468	35,904	36,336	35,944	32,428	33,047	33,695	32,993	33,543	34,292
Total Noncurrent Assets	1,277	1,245	2,744	2,303	2,821	3,155	3,340	3,307	3,149	3,007	2,966
Noncurrent Deferred & Refundable Income Taxes	-	-	1,758	1,752	2,259	2,550	2,703	2,674	2,517	2,384	2,343
Other Noncurrent Operating Assets	582	564	549	551	562	605	637	633	632	623	623
Total Liabilities & Shareholders' Equity	13,244	13,545	15,244	14,952	20,195	19,376	19,390	18,531	18,078	17,699	18,079
Total Liabilities	11,548	11,438	11,553	11,299	13,700	13,216	13,028	12,068	11,175	10,836	10,681
Total Current Liabilities	2,630	2,635	2,404	2,152	2,889	2,925	2,955	2,761	2,844	2,545	2,491
Short-Term Debt	2.00	2.00	2.00	2.00	2.00	2.00	53	131	263	213	134
Accounts Payable	656	741	658	694	1,012	939	1,224	1,106	1,074	920	798
Other Current Liabilities	1,972	1,892	1,744	1,456	1,875	1,760	1,678	1,524	1,507	1,412	1,559
Total Noncurrent Liabilities	8,918	8,803	9,149	9,147	10,811	10,291	10,073	9,307	8,331	8,291	8,190
Long-Term Debt	5,574	5,582	5,186	5,178	6,741	6,370	5,991	5,237	4,288	4,275	4,280
Asset Retirement Reserve & Litigation Obligation	1,984	2,006	2,362	2,400	2,515	2,502	2,591	2,610	2,621	2,647	2,699
Other Noncurrent Operating Liabilities	911	910	1,230	1,269	1,299	1,333	1,477	1,437	1,422	1,369	1,211
Total Equity & Noncontrolling Interests	1,696	2,107	3,691	3,653	6,495	6,160	6,362	6,463	6,903	6,863	7,398
Total Preferred & Common Equity	709	1,078	2,655	2,607	5,423	5,114	5,280	5,436	5,905	5,965	6,456
Total Common Equity	709	1,078	2,655	2,607	5,423	5,114	5,280	5,436	5,905	5,965	6,456
Common Stock	11,530	11,460	11,389	11,310	13,629	13,546	13,460	13,370	13,288	13,208	13,041
Retained Earnings	-5,191	-4,732	-2,959	-2,827	-2,286	-2,509	-2,155	-1,808	-1,205	-1,000	-275
Treasury Stock	-5,647	-5,667	-5,790	-5,891	-5,934	-5,937	-6,037	-6,138	-6,189	-6,254	-6,320
Accumulated Other Comprehensive Income / (Loss)	17	17	15	15	14	14	12	12	11	11	10
Noncontrolling Interest	987	1,029	1,036	1,046	1,072	1,046	1,082	1,027	998	898	942

This table displays calculated financial ratios and metrics derived from APA's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	-34.32%	74.98%	60.05%	-31.59%	15.53%	-5.31%
EBITDA Growth	0.00%	-835.37%	191.43%	142.78%	-30.31%	-25.66%	34.04%
EBIT Growth	0.00%	-60.90%	129.86%	285.95%	-42.51%	-60.64%	81.82%
NOPAT Growth	0.00%	-59.69%	129.42%	295.71%	-19.25%	-71.33%	51.34%
Net Income Growth	0.00%	-33.19%	126.77%	210.89%	-21.44%	-65.14%	62.64%
EPS Growth	0.00%	-36.37%	120.14%	325.48%	-16.06%	-75.46%	75.77%
Operating Cash Flow Growth	0.00%	-51.59%	151.87%	41.39%	-36.70%	15.69%	25.55%
Free Cash Flow Firm Growth	0.00%	0.00%	120.17%	86.20%	-79.89%	-421.39%	208.02%
Invested Capital Growth	0.00%	0.00%	-15.61%	1.56%	40.92%	41.01%	-6.80%
Revenue Q/Q Growth	0.00%	0.00%	-1.02%	0.00%	50.78%	18.31%	2.35%
EBITDA Q/Q Growth	0.00%	0.00%	-19.16%	0.00%	-15.84%	-8.39%	8.34%
EBIT Q/Q Growth	0.00%	0.00%	-29.58%	0.00%	-23.08%	-30.47%	20.72%
NOPAT Q/Q Growth	0.00%	0.00%	-27.63%	0.00%	28.54%	-49.36%	14.82%
Net Income Q/Q Growth	0.00%	0.00%	48.70%	0.00%	70.40%	-56.28%	37.35%
EPS Q/Q Growth	0.00%	0.00%	63.92%	0.00%	81.37%	-67.80%	-4.32%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	20.18%	0.00%	-10.91%	0.17%	-4.78%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-35.11%	117.64%	12.68%	13.39%
Invested Capital Q/Q Growth	0.00%	0.00%	-2.34%	0.00%	20.82%	1.55%	0.96%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	93.12%	85.24%	75.35%	82.10%	86.87%	84.37%	83.80%
EBITDA Margin	-5.04%	-71.75%	37.49%	56.87%	57.93%	37.28%	55.26%
Operating Margin	-46.87%	-113.94%	19.31%	46.57%	39.14%	13.33%	30.27%
EBIT Margin	-46.21%	-113.19%	19.31%	46.57%	39.14%	13.33%	30.27%
Profit (Net Income) Margin	-56.56%	-114.69%	17.55%	34.09%	39.15%	11.81%	33.90%
Tax Burden Percent	122.41%	101.32%	69.43%	71.19%	111.24%	72.83%	112.00%
Interest Burden Percent	100.00%	100.00%	130.87%	102.82%	89.93%	121.63%	100.00%
Effective Tax Rate	0.00%	0.00%	30.57%	28.81%	0.00%	27.17%	39.38%
Return on Invested Capital (ROIC)	0.00%	-98.60%	15.73%	67.48%	44.89%	9.13%	14.87%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-141.55%	20.57%	69.62%	44.91%	13.07%	45.39%
Return on Net Nonoperating Assets (RNNOA)	0.00%	26,606.70%	-6,268.11%	541.77%	82.47%	13.11%	31.91%
Return on Equity (ROE)	0.00%	26,508.11%	-6,252.38%	609.25%	127.36%	22.24%	46.78%
Cash Return on Invested Capital (CROIC)	0.00%	-298.60%	32.66%	65.93%	10.92%	-24.90%	21.91%
Operating Return on Assets (OROA)	0.00%	-37.97%	11.09%	42.17%	22.58%	7.29%	15.03%
Return on Assets (ROA)	0.00%	-38.47%	10.08%	30.87%	22.59%	6.46%	16.83%
Return on Common Equity (ROCE)	0.00%	1,174,237.55%	-481,433.33%	-532.87%	77.84%	17.56%	39.81%
Return on Equity Simple (ROE_SIMPLE)	0.00%	299.21%	-82.32%	965.01%	120.79%	21.17%	0.00%
Net Operating Profit after Tax (NOPAT)	-2,136	-3,410	1,003	3,970	3,206	919	1,692
NOPAT Margin	-32.81%	-79.76%	13.41%	33.15%	39.14%	9.71%	18.35%
Net Nonoperating Expense Percent (NNEP)	0.00%	42.95%	-4.84%	-2.14%	-0.02%	-3.94%	-30.52%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	58.40%	36.11%	7.41%	14.72%
Cost of Revenue to Revenue	6.88%	14.76%	24.65%	17.90%	13.13%	15.63%	16.20%
SG&A Expenses to Revenue	6.24%	6.78%	5.03%	4.03%	4.28%	3.93%	3.80%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	139.98%	199.18%	56.04%	35.53%	47.73%	86.67%	69.73%
Earnings before Interest and Taxes (EBIT)	-3,008	-4,840	1,445	5,577	3,206	1,262	2,791
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-328	-3,068	2,805	6,810	4,746	3,528	5,095
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	33.64	3.97	1.60	1.41
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	33.64	3.97	1.60	1.41
Price to Revenue (P/Rev)	0.00	0.00	1.22	1.19	1.29	0.89	0.93
Price to Earnings (P/E)	0.00	0.00	9.41	3.87	3.69	10.51	5.08
Dividend Yield	4.26%	2.46%	0.55%	1.43%	2.91%	4.38%	4.13%
Earnings Yield	0.00%	0.00%	10.62%	25.82%	27.12%	9.51%	19.69%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.84	3.33	1.94	1.27	1.23
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.22	1.65	1.98	1.58	1.46
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	5.92	2.90	3.42	4.24	2.65
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	11.48	3.54	5.06	11.85	4.83
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	16.54	4.97	5.06	16.27	7.97
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	4.75	3.99	5.19	4.13	2.97
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	7.96	5.09	20.80	0.00	5.41
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	-237.08	-1,502.00	4.05	1.41	0.95	0.64
Long-Term Debt to Equity	0.00	-237.03	-1,459.00	4.05	1.41	0.94	0.61
Financial Leverage	0.00	-187.97	-304.71	7.78	1.84	1.00	0.70
Leverage Ratio	0.00	-344.49	-620.21	19.74	5.64	3.45	2.78
Compound Leverage Factor	0.00	-344.49	-811.64	20.29	5.07	4.19	2.78
Debt to Total Capital	0.00%	100.42%	100.07%	80.21%	58.43%	48.72%	39.08%
Short-Term Debt to Total Capital	0.00%	0.02%	2.86%	0.03%	0.02%	0.43%	1.85%
Long-Term Debt to Total Capital	0.00%	100.40%	97.20%	80.19%	58.41%	48.29%	37.23%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	18.34%	21.19%	13.56%	11.67%	8.72%	7.92%
Common Equity to Total Capital	0.00%	-18.76%	-21.25%	6.22%	29.90%	42.56%	53.00%
Debt to EBITDA	0.00	-2.86	2.68	0.80	1.09	1.71	0.88
Net Debt to EBITDA	0.00	-2.27	2.08	0.67	0.98	1.54	0.78
Long-Term Debt to EBITDA	0.00	-2.86	2.60	0.80	1.09	1.70	0.84
Debt to NOPAT	0.00	-2.57	7.49	1.37	1.62	6.58	2.66
Net Debt to NOPAT	0.00	-2.04	5.82	1.15	1.45	5.90	2.35
Long-Term Debt to NOPAT	0.00	-2.57	7.27	1.37	1.62	6.52	2.53
Altman Z-Score	0.00	0.00	0.36	2.40	1.51	0.96	1.43
Noncontrolling Interest Sharing Ratio	0.00%	-4,329.73%	-7,600.00%	187.46%	38.88%	21.07%	14.90%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.41	1.12	0.93	1.02	1.15	0.83
Quick Ratio	0.00	0.89	0.80	0.59	0.71	0.87	0.61
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-10,328	2,083	3,879	780	-2,507	2,493
Operating Cash Flow to CapEx	108.85%	109.29%	317.53%	273.55%	134.12%	124.36%	164.32%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.34	0.57	0.91	0.58	0.55	0.50
Accounts Receivable Turnover	0.00	4.71	6.50	8.37	5.33	5.30	6.10
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.48	0.87	1.38	0.86	0.83	0.73
Accounts Payable Turnover	0.00	1.42	3.14	2.85	1.51	1.57	1.43
Days Sales Outstanding (DSO)	0.00	77.51	56.15	43.59	68.53	68.82	59.80
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	256.83	116.29	127.91	242.37	232.23	255.92
Cash Conversion Cycle (CCC)	0.00	-179.32	-60.14	-84.33	-173.85	-163.40	-196.12
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	6,918	5,838	5,929	8,355	11,781	10,980
Invested Capital Turnover	0.00	1.24	1.17	2.04	1.15	0.94	0.81
Increase / (Decrease) in Invested Capital	0.00	6,918	-1,080	91	2,426	3,426	-801
Enterprise Value (EV)	0.00	0.00	16,592	19,735	16,227	14,953	13,480
Market Capitalization	0.00	0.00	9,159	14,229	10,527	8,452	8,593
Book Value per Share	$0.00	($4.34)	($4.39)	$1.27	$8.66	$14.27	$17.18
Tangible Book Value per Share	$0.00	($4.34)	($4.39)	$1.27	$8.66	$14.27	$17.18
Total Capital	0.00	8,735	7,505	6,798	8,879	12,406	11,496
Total Debt	0.00	8,772	7,510	5,453	5,188	6,044	4,493
Total Long-Term Debt	0.00	8,770	7,295	5,451	5,186	5,991	4,280
Net Debt	0.00	6,955	5,843	4,584	4,664	5,419	3,977
Capital Expenditures (CapEx)	2,634	1,270	1,101	1,807	2,333	2,911	2,766
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	278	176	-451	-27	-123	-753
Debt-free Net Working Capital (DFNWC)	0.00	540	478	-206	60	502	-237
Net Working Capital (NWC)	0.00	538	263	-208	58	449	-450
Net Nonoperating Expense (NNE)	1,546	1,494	-310	-112	-1.00	-199	-1,434
Net Nonoperating Obligations (NNO)	0.00	6,955	5,843	4,584	4,664	5,419	3,977
Total Depreciation and Amortization (D&A)	2,680	1,772	1,360	1,233	1,540	2,266	2,304
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	6.50%	2.35%	-3.77%	-0.33%	-1.30%	-8.17%
Debt-free Net Working Capital to Revenue	0.00%	12.63%	6.39%	-1.72%	0.73%	5.30%	-2.57%
Net Working Capital to Revenue	0.00%	12.58%	3.52%	-1.74%	0.71%	4.74%	-4.88%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$2.60	$11.05	$9.26	$2.28	$3.99
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	374M	332M	308M	353M	359M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$2.59	$11.02	$9.25	$2.27	$3.99
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	375M	333M	309M	353M	359M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	346.78M	310.95M	301.82M	364.06M	353.25M
Normalized Net Operating Profit after Tax (NOPAT)	-36	-222	1,163	3,989	2,297	1,864	1,781
Normalized NOPAT Margin	-0.56%	-5.19%	15.54%	33.31%	28.04%	19.69%	19.31%
Pre Tax Income Margin	-46.21%	-113.19%	25.27%	47.88%	35.19%	16.22%	30.27%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-18.50%	-4.83%	25.21%	13.94%	17.03%	55.55%	25.27%
Augmented Payout Ratio	-18.50%	-4.83%	25.21%	13.94%	17.03%	55.55%	25.27%

This table displays calculated financial ratios and metrics derived from APA's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	353,251,476.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	353,251,476.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.26
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-100.00%	81.08%	-9.51%	0.00%	0.00%	23.77%	42.19%	-13.96%	-20.55%	-21.71%	-15.20%
EBITDA Growth	-15.59%	-40.98%	-28.98%	40.49%	-79.62%	-25.12%	73.37%	-4.07%	321.96%	17.10%	-1.64%
EBIT Growth	-28.92%	-52.71%	-52.96%	30.14%	-140.82%	-64.08%	100.26%	-2.09%	250.29%	479.07%	8.78%
NOPAT Growth	7.56%	-29.64%	-44.57%	31.74%	-142.88%	-69.47%	131.33%	-15.39%	216.81%	361.14%	29.90%
Net Income Growth	4.72%	245.83%	-34.97%	34.20%	-125.05%	-77.20%	97.17%	9.22%	233.43%	5.05%	29.90%
EPS Growth	16.41%	259.38%	-43.59%	18.70%	-140.27%	-83.13%	118.18%	14.38%	195.00%	-18.56%	31.25%
Operating Cash Flow Growth	-30.80%	-27.11%	9.85%	-12.30%	75.26%	0.58%	197.83%	34.66%	9.04%	-22.01%	-49.45%
Free Cash Flow Firm Growth	-197.94%	-237.65%	-866.65%	-7,170.31%	22.58%	-102.34%	-25.82%	144.97%	120.37%	128.60%	130.13%
Invested Capital Growth	0.00%	40.92%	34.90%	103.23%	67.77%	41.01%	34.74%	-13.24%	-6.25%	-6.80%	-2.08%
Revenue Q/Q Growth	0.00%	0.00%	-52.34%	-100.00%	0.00%	0.00%	-65.75%	67.30%	-53.82%	-89.10%	906.82%
EBITDA Q/Q Growth	17.24%	2.80%	-36.99%	84.83%	-82.99%	277.65%	46.00%	57.75%	-51.49%	-24.26%	69.69%
EBIT Q/Q Growth	19.00%	3.60%	-55.90%	139.11%	-137.32%	191.18%	146.13%	121.23%	-69.73%	-51.27%	233.33%
NOPAT Q/Q Growth	20.13%	55.50%	-79.09%	236.83%	-139.10%	210.71%	58.63%	96.23%	-66.11%	-39.37%	222.17%
Net Income Q/Q Growth	20.13%	235.86%	-88.63%	192.45%	-122.42%	405.76%	-1.65%	203.35%	-61.91%	98.14%	-43.26%
EPS Q/Q Growth	21.14%	285.91%	-92.35%	231.82%	-141.10%	261.67%	-1.03%	73.96%	-65.87%	38.60%	59.49%
Operating Cash Flow Q/Q Growth	-23.60%	34.82%	-64.27%	138.32%	52.68%	-22.63%	5.79%	7.76%	23.62%	-44.66%	-31.44%
Free Cash Flow Firm Q/Q Growth	-7,562.65%	75.42%	-33.05%	-190.35%	18.40%	35.77%	17.31%	197.56%	-60.69%	-3.34%	-18.72%
Invested Capital Q/Q Growth	7.46%	20.82%	4.50%	49.79%	-11.29%	1.55%	-0.14%	-3.54%	-4.15%	0.96%	4.91%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	26.27%	86.55%	0.00%	0.00%	23.94%	77.87%	90.66%	85.43%	2.73%	92.51%
EBITDA Margin	0.00%	20.87%	44.15%	0.00%	0.00%	12.63%	53.83%	50.76%	53.32%	370.45%	62.44%
Operating Margin	0.00%	14.01%	20.74%	0.00%	0.00%	4.06%	29.21%	29.02%	25.32%	113.18%	37.47%
EBIT Margin	0.00%	14.01%	20.74%	0.00%	0.00%	4.06%	29.21%	38.63%	25.32%	113.18%	37.47%
Profit (Net Income) Margin	0.00%	30.25%	11.54%	0.00%	0.00%	5.57%	16.00%	29.02%	23.93%	435.00%	24.51%
Tax Burden Percent	66.63%	345.19%	47.43%	66.81%	40.88%	85.00%	54.78%	123.35%	94.52%	195.71%	65.42%
Interest Burden Percent	100.00%	62.57%	117.32%	101.87%	100.00%	161.29%	100.00%	60.90%	100.00%	196.39%	100.00%
Effective Tax Rate	33.37%	0.00%	52.57%	33.19%	0.00%	15.00%	45.22%	35.31%	45.60%	32.31%	34.58%
Return on Invested Capital (ROIC)	0.00%	16.06%	10.35%	0.00%	0.00%	3.25%	15.99%	14.65%	11.04%	62.07%	18.58%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	37.71%	10.97%	0.00%	0.00%	6.45%	15.99%	22.77%	15.38%	78.85%	18.58%
Return on Net Nonoperating Assets (RNNOA)	0.00%	69.25%	21.82%	0.00%	0.00%	6.47%	16.41%	18.74%	11.16%	55.43%	12.63%
Return on Equity (ROE)	0.00%	85.32%	32.17%	0.00%	0.00%	9.72%	32.40%	33.39%	22.21%	117.50%	31.21%
Cash Return on Invested Capital (CROIC)	-127.86%	10.92%	6.81%	-37.46%	-31.01%	-24.90%	-18.12%	22.57%	19.56%	21.91%	17.71%
Operating Return on Assets (OROA)	0.00%	8.08%	11.78%	0.00%	0.00%	2.22%	17.87%	19.24%	12.30%	56.18%	18.06%
Return on Assets (ROA)	0.00%	17.46%	6.56%	0.00%	0.00%	3.05%	9.79%	14.45%	11.63%	215.91%	11.82%
Return on Common Equity (ROCE)	0.00%	52.15%	19.30%	0.00%	0.00%	7.67%	25.76%	28.23%	18.89%	99.99%	26.78%
Return on Equity Simple (ROE_SIMPLE)	174.58%	0.00%	118.64%	59.95%	50.00%	0.00%	24.36%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	555	863	181	609	-238	264	418	820	278	169	543
NOPAT Margin	0.00%	14.01%	9.84%	0.00%	0.00%	3.45%	16.00%	18.77%	13.78%	76.61%	24.51%
Net Nonoperating Expense Percent (NNEP)	0.00%	-21.65%	-0.62%	-0.20%	-1.93%	-3.20%	0.00%	-8.12%	-4.34%	-16.78%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	-	9.72%	-	-	-	2.12%	3.53%	7.16%	2.45%	1.47%	4.60%
Cost of Revenue to Revenue	0.00%	4.43%	13.45%	0.00%	0.00%	6.37%	22.13%	9.34%	14.57%	97.27%	7.49%
SG&A Expenses to Revenue	0.00%	1.22%	5.06%	0.00%	0.00%	1.34%	3.75%	1.51%	4.71%	41.36%	5.19%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	2.63%	79.26%	0.00%	0.00%	30.59%	48.66%	61.65%	74.68%	435.00%	62.53%
Earnings before Interest and Taxes (EBIT)	833	863	381	911	-340	310	763	1,688	511	249	830
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,251	1,286	811	1,499	255	963	1,406	2,218	1,076	815	1,383
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.26	3.97	3.98	2.00	1.75	1.60	1.39	1.10	1.44	1.41	2.31
Price to Tangible Book Value (P/TBV)	11.26	3.97	3.98	2.00	1.75	1.60	1.39	1.10	1.44	1.41	2.31
Price to Revenue (P/Rev)	2.23	1.29	1.30	1.36	1.12	0.89	0.74	0.68	0.95	0.93	1.69
Price to Earnings (P/E)	7.96	3.69	3.78	3.73	4.03	10.51	7.39	6.59	6.11	5.08	8.32
Dividend Yield	2.53%	2.91%	2.95%	3.42%	4.13%	4.38%	4.84%	5.54%	4.16%	4.13%	2.37%
Earnings Yield	12.56%	27.12%	26.44%	26.79%	24.82%	9.51%	13.53%	15.17%	16.35%	19.69%	12.03%
Enterprise Value to Invested Capital (EV/IC)	2.60	1.94	1.89	1.41	1.41	1.27	1.18	1.05	1.24	1.23	1.73
Enterprise Value to Revenue (EV/Rev)	3.31	1.98	2.06	2.31	2.04	1.58	1.35	1.25	1.50	1.46	2.26
Enterprise Value to EBITDA (EV/EBITDA)	3.19	3.42	3.74	3.82	4.24	4.24	3.36	3.08	2.87	2.65	3.93
Enterprise Value to EBIT (EV/EBIT)	4.31	5.06	5.94	6.19	8.99	11.85	8.43	8.18	5.84	4.83	6.98
Enterprise Value to NOPAT (EV/NOPAT)	7.21	5.06	5.94	6.19	8.99	16.27	11.78	11.66	9.16	7.97	10.98
Enterprise Value to Operating Cash Flow (EV/OCF)	5.12	5.19	5.22	6.09	4.51	4.13	3.19	2.57	2.83	2.97	4.99
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	20.80	31.86	0.00	0.00	0.00	0.00	4.34	6.14	5.41	9.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.65	1.41	1.42	1.04	1.03	0.95	0.83	0.66	0.65	0.64	0.60
Long-Term Debt to Equity	2.65	1.41	1.42	1.04	1.03	0.94	0.81	0.62	0.62	0.61	0.58
Financial Leverage	2.28	1.84	1.99	1.38	1.24	1.00	1.03	0.82	0.73	0.70	0.68
Leverage Ratio	6.43	5.64	5.54	4.08	3.98	3.45	3.31	2.86	2.85	2.78	2.64
Compound Leverage Factor	6.43	3.53	6.50	4.16	3.98	5.56	3.31	1.74	2.85	5.46	2.64
Debt to Total Capital	72.60%	58.43%	58.64%	50.94%	50.85%	48.72%	45.37%	39.73%	39.54%	39.08%	37.37%
Short-Term Debt to Total Capital	0.03%	0.02%	0.02%	0.02%	0.02%	0.43%	1.11%	2.30%	1.88%	1.85%	1.13%
Long-Term Debt to Total Capital	72.58%	58.41%	58.62%	50.92%	50.83%	48.29%	44.27%	37.44%	37.66%	37.23%	36.23%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	13.38%	11.67%	11.84%	8.10%	8.35%	8.72%	8.68%	8.71%	7.91%	7.92%	7.97%
Common Equity to Total Capital	14.02%	29.90%	29.51%	40.97%	40.81%	42.56%	45.95%	51.55%	52.55%	53.00%	54.66%
Debt to EBITDA	0.99	1.09	1.17	1.39	1.65	1.71	1.30	1.17	0.95	0.88	0.87
Net Debt to EBITDA	0.85	0.98	1.15	1.36	1.64	1.54	1.29	1.14	0.85	0.78	0.81
Long-Term Debt to EBITDA	0.99	1.09	1.17	1.39	1.65	1.70	1.27	1.10	0.91	0.84	0.84
Debt to NOPAT	2.24	1.62	1.87	2.26	3.51	6.58	4.56	4.44	3.05	2.66	2.43
Net Debt to NOPAT	1.93	1.45	1.83	2.20	3.48	5.90	4.51	4.33	2.72	2.35	2.27
Long-Term Debt to NOPAT	2.24	1.62	1.86	2.26	3.51	6.52	4.45	4.18	2.90	2.53	2.36
Altman Z-Score	0.77	1.00	0.93	0.86	0.62	0.80	0.91	1.05	0.96	0.96	1.44
Noncontrolling Interest Sharing Ratio	0.00%	38.88%	40.01%	0.00%	0.00%	21.07%	20.49%	15.45%	14.93%	14.90%	14.21%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.06	1.02	1.16	1.01	1.24	1.15	0.89	0.80	0.78	0.83	0.92
Quick Ratio	0.70	0.71	0.79	0.73	0.59	0.87	0.68	0.57	0.59	0.61	0.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-6,360	-1,563	-2,078	-6,034	-4,924	-3,163	-2,615	2,551	1,003	970	788
Operating Cash Flow to CapEx	121.46%	179.13%	69.43%	126.55%	143.98%	136.68%	138.73%	177.06%	203.06%	136.95%	101.47%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	38.66	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	17.89	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.79	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.80	0.58	0.57	0.48	0.49	0.55	0.61	0.50	0.49	0.50	0.48
Accounts Receivable Turnover	0.00	5.33	5.14	4.85	4.70	5.30	5.99	5.53	6.76	6.10	5.38
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.86	0.83	0.67	0.72	0.83	0.89	0.70	0.71	0.73	0.69
Accounts Payable Turnover	0.00	1.51	1.52	1.38	1.51	1.57	2.01	1.81	1.90	1.43	1.14
Days Sales Outstanding (DSO)	0.00	68.53	71.07	75.29	77.69	68.82	60.94	65.97	54.01	59.80	67.80
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	242.37	239.79	264.47	242.18	232.23	181.49	201.75	192.11	255.92	321.15
Cash Conversion Cycle (CCC)	0.00	-173.85	-168.72	-189.18	-164.49	-163.40	-120.55	-135.77	-138.10	-196.12	-253.34
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,915	8,355	8,731	13,078	11,601	11,781	11,764	11,347	10,876	10,980	11,519
Invested Capital Turnover	1.57	1.15	1.05	0.82	0.86	0.94	1.00	0.78	0.80	0.81	0.76
Increase / (Decrease) in Invested Capital	6,915	2,426	2,259	6,643	4,686	3,426	3,033	-1,731	-725	-801	-245
Enterprise Value (EV)	17,976	16,227	16,506	18,498	16,312	14,953	13,857	11,953	13,502	13,480	19,955
Market Capitalization	12,139	10,527	10,382	10,843	8,958	8,452	7,529	6,511	8,591	8,593	14,892
Book Value per Share	$3.51	$8.66	$8.63	$14.61	$13.83	$14.27	$14.93	$16.36	$16.67	$17.18	$18.28
Tangible Book Value per Share	$3.51	$8.66	$8.63	$14.61	$13.83	$14.27	$14.93	$16.36	$16.67	$17.18	$18.28
Total Capital	7,691	8,879	8,833	13,238	12,532	12,406	11,831	11,454	11,351	11,496	11,812
Total Debt	5,584	5,188	5,180	6,743	6,372	6,044	5,368	4,551	4,488	4,493	4,414
Total Long-Term Debt	5,582	5,186	5,178	6,741	6,370	5,991	5,237	4,288	4,275	4,280	4,280
Net Debt	4,808	4,664	5,078	6,583	6,308	5,419	5,301	4,444	4,013	3,977	4,121
Capital Expenditures (CapEx)	629	575	530	693	930	758	790	667	719	590	546
Debt-free, Cash-free Net Working Capital (DFCFNWC)	72	-27	254	-129	633	-123	-253	-400	-834	-753	-361
Debt-free Net Working Capital (DFNWC)	167	60	356	31	697	502	-186	-293	-359	-237	-68
Net Working Capital (NWC)	165	58	354	29	695	449	-317	-556	-572	-450	-202
Net Nonoperating Expense (NNE)	0.00	-1,001	-31	-11	-99	-162	0.00	-448	-205	-788	0.00
Net Nonoperating Obligations (NNO)	4,808	4,664	5,078	6,583	5,441	5,419	5,301	4,444	4,013	3,977	4,121
Total Depreciation and Amortization (D&A)	418	423	430	588	595	653	643	530	565	566	553
Debt-free, Cash-free Net Working Capital to Revenue	1.33%	-0.33%	3.18%	-1.61%	7.91%	-1.30%	-2.47%	-4.20%	-9.26%	-8.17%	-4.09%
Debt-free Net Working Capital to Revenue	3.07%	0.73%	4.45%	0.39%	8.71%	5.30%	-1.82%	-3.07%	-3.99%	-2.57%	-0.77%
Net Working Capital to Revenue	3.04%	0.71%	4.43%	0.36%	8.69%	4.74%	-3.10%	-5.83%	-6.35%	-4.88%	-2.29%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.49	$5.75	$0.44	$1.46	($0.60)	$0.98	$0.96	$1.67	$0.57	$0.79	$1.26
Adjusted Weighted Average Basic Shares Outstanding	308M	308M	302M	371M	370M	353M	364M	361M	357M	359M	354M
Adjusted Diluted Earnings per Share	$1.49	$5.75	$0.44	$1.46	($0.60)	$0.97	$0.96	$1.67	$0.57	$0.79	$1.26
Adjusted Weighted Average Diluted Shares Outstanding	308M	309M	302M	372M	370M	353M	364M	361M	358M	359M	354M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	306.72M	301.82M	371.19M	369.90M	369.95M	364.06M	360.85M	357.79M	354.67M	353.25M	353.47M
Normalized Net Operating Profit after Tax (NOPAT)	558	607	286	685	550	274	438	827	288	193	548
Normalized NOPAT Margin	0.00%	9.85%	15.55%	0.00%	0.00%	3.59%	16.78%	18.93%	14.26%	87.69%	24.72%
Pre Tax Income Margin	0.00%	8.76%	24.33%	0.00%	0.00%	6.56%	29.21%	23.52%	25.32%	222.27%	37.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	25.58	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12.43	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	15.47	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.32	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.40%	17.03%	19.30%	17.90%	25.54%	55.55%	52.27%	50.87%	34.67%	25.27%	22.33%
Augmented Payout Ratio	31.40%	17.03%	19.30%	17.90%	25.54%	55.55%	52.27%	50.87%	34.67%	25.27%	22.33%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, data-driven look at APA Corp (NASDAQ:APA) using the last four years of quarterly statements provided. The focus is on cash flow, profitability, and balance-sheet trends that could be relevant to a retail investor.

Strong operating cash flow in 2025. Net cash from continuing operating activities was about $1.10B (Q1 2025), $1.18B (Q2 2025), $1.46B (Q3 2025), and $0.81B (Q4 2025), showing robust cash generation even with quarterly volatility in energy markets.
Solid quarterly profitability in late 2025. Consolidated net income reached about $1.27B in Q3 2025 and $0.96B in Q4 2025, with per-share results improving across the period (EPS ranged from roughly $0.57 in Q3 to $0.79 in Q4, on a diluted basis).
Asset base expanding, with growing PPE. Plant, Property & Equipment net grew to about $12.72B by Q3 2025 from roughly $9.01B at the end of 2024, signaling ongoing capacity investment.
Equity base maintained and modestly expanded. Total common equity sits around $5.9B–$6.0B in 2025, up modestly from 2024 levels, supporting a stronger balance sheet.
Dividend per share remains steady. APA continues to pay a quarterly dividend of $0.25 per share, signaling a stable cash-return policy for shareholders.
Revenue volatility across quarters. For example, Q4 2025 revenue was about $220M vs Q3 2025 revenue near $2.0B, highlighting sensitivity to commodity cycles and seasonality.
Ongoing, sizable capital expenditures. Quarterly capex ( Purchase of PP&E ) has ranged roughly from $0.59B to $0.79B in 2025, underscoring continued asset-building activity.
Leverage remains noticeable but manageable. Long-term debt sits around $4.3B–$5.4B with total liabilities near $11B in mid-2025, yielding a debt-to-equity dynamic typical for an integrated energy name.
Net income attributable to common shareholders negative in some periods. For example, Q4 2025 shows a negative $139M, reflecting quarterly mix, taxes, or minority effects despite positive consolidated earnings.
Financing activity often negative, indicating ongoing debt service and shareholder returns. Net cash from financing activities was negative in several 2025 quarters (e.g., sizable negative balances in Q2–Q4 2025), suggesting the company funds dividends and debt management through external financing or debt issuance.

05/15/26 04:05 PM ETAI Generated. May Contain Errors.

APA Financials - Frequently Asked Questions

According to the most recent income statement we have on file, APA's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

APA's net income appears to be on an upward trend, with a most recent value of $3.13 billion in 2025, falling from -$3.68 billion in 2019. The previous period was $1.92 billion in 2024. View APA's forecast to see where analysts expect APA to go next.

APA's total operating income in 2025 was $2.79 billion, based on the following breakdown:

Total Gross Profit: $7.73 billion
Total Operating Expenses: $6.43 billion

Over the last 6 years, APA's total revenue changed from $6.51 billion in 2019 to $9.22 billion in 2025, a change of 41.6%.

APA's total liabilities were at $10.76 billion at the end of 2025, a 17.4% decrease from 2024, and a 15.8% decrease since 2020.

In the past 5 years, APA's cash and equivalents has ranged from $87 million in 2023 to $625 million in 2024, and is currently $516 million as of their latest financial filing in 2025.

Over the last 6 years, APA's book value per share changed from 0.00 in 2019 to 17.18 in 2025, a change of 1,717.9%.

Related Companies

Financial statements for NASDAQ:APA last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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APA (APA) Financials

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APA (APA) Financials

Annual Income Statements for APA

Quarterly Income Statements for APA

Annual Cash Flow Statements for APA

Quarterly Cash Flow Statements for APA

Annual Balance Sheets for APA

Quarterly Balance Sheets for APA

Annual Metrics And Ratios for APA

Quarterly Metrics And Ratios for APA

Financials Breakdown Chart

Key Financial Trends

APA Financials - Frequently Asked Questions

When does APA's fiscal year end?

How has APA's net income changed over the last 6 years?

What is APA's operating income?

How has APA's revenue changed over the last 6 years?

How much debt does APA have?

How much cash does APA have?

How has APA's book value per share changed over the last 6 years?

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