— Know what they know.
/
Not Investment Advice

APA

NASDAQ · USD
APA Corporation
Energy · Oil & Gas Exploration & Production
CEO John J. Christmann Employees 1,791 R&D / revenue 0.0%
Last price
$49.15+4.07%last session
Market cap
$17.2B
P/E (TTM)
10.4x
From 52w high
−0.2%
From 52w low
+127.2%
1-year return
+116.0%
RSI 14 · vs SMA200
69.7 · +35.1%
IS score
61.5/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

APA   SPY   XLE (sector ETF) · weekly closes
100120140160180200220Jan 26Apr 26Jul 26Oct 26APA 216XLE 160SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
50
Profitability
48
Growth
78
Value
78
Momentum
50
Risk (safety)
68
Quality
67
Balance sheet
53
Earnings quality

Flags

Strengths
✓ FCF yield 5%+
Warnings
▲ Beneish M above -1.78
Observations
Moat model: None, Cost AdvantagePiotroski 7 / 9Altman Z 1.9Beta 0.372 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
1 open-market sales, $392,392
Form 144 notices (12m): 2, $1.2M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−3
131 new holders, 121 closed
815 filers hold 105.3% · 306 added, 246 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+11
546 funds adding shares
535 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
61.0%
20-day avg 50.1%, 50-day avg 52.9%
Latest 10.9 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$8.9B
Revenue growth YoY−8.4%
Gross margin37.3%
Operating income$2.8B
Operating margin30.8%
Net income$1.4B
Net margin16.1%
EPS (diluted)$3.99
Cash flow
Operating cash flow$4.5B
Capital expenditure$2.8B
Free cash flow$1.8B
FCF conversion (FCF / OCF)39.1%
Stock-based compensation$0
FCF less SBC$1.8B
Buybacks$280.0M
Dividends$360.0M
Balance sheet & returns
Cash & short-term investments$516.0M
Total debt$4.6B
Net debt$4.0B
Shareholders' equity$7.0B
Goodwill & intangibles$0
Debt / equity0.55
ROE (TTM)26.3%
ROIC (TTM)4.2%
Operating margin by fiscal year
37.1%FY202146.7%FY202240.2%FY202333.0%FY202430.9%FY2025
Revenue $8.0B (FY2021) to $8.9B (FY2025), a 2.8% CAGR.

Valuation

P/E (TTM)10.4x
EV / EBITDA3.6x
Price / sales1.95x
Price / FCF8.2x
FCF yield12.24%
Buyback yield1.63%
SBC / revenue0.0%
Price / book2.47x
Forward P/E FY20267.5x
Forward P/E FY20279.9x
Forward P/E FY202811.9x
Forward multiples divide today's price by Street EPS estimates. Street mean target $47.28 across 18 analysts last quarter is theirs, not ours.

APA vs industry median

473 companies in Oil & Gas Exploration & Production
Gross margin 38.8% 45.9% Operating margin 11.8% 19.2% Net margin 19.0% 12.3% ROIC 4.2% 5.3%
APA (TTM)Industry median Asset turnover 0.49 vs industry 0.24 · financial leverage 2.56

Earnings delivery

Next report 2026-11-04 · consensus EPS $1.55
58%
beat rate, 7 of 12 quarters
+19.6%
median EPS surprise
5
longest beat streak
+22-17-13+24-1-19+28+93+17+41+24-1
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-01 to 2026-08-05. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
APA APA Corporation $17.2B10.4x26.3%19.0%−8.4% +116.0%
COG Cabot Oil & Gas Corporation $17.1B10.2x11.4%47.0%+26.0% —
OVV Ovintiv Inc. $19.2B19.7x8.4%15.1%+4.7% +91.7%
PR Permian Resources Corporatio $20.6B15.9x11.5%42.7%+12.8% +105.9%
EXE Expand Energy Corporation $21.6B8.0x14.9%17.6%+56.8% −4.8%
TPL Texas Pacific Land Corporati $24.2B44.7x36.6%62.6%+20.8% +11.3%
AR Antero Resources Corporation $11.9B11.0x13.9%20.8%+19.6% —
RRC Range Resources Corporation $10.1B11.9x19.5%23.4%+19.0% —
12-month window: SPY +15.9%, sector ETF XLE +60.0%. Past returns describe history only.

Recent 8-K filings

2026-10-07Earnings Release; Exhibits
2026-08-05Earnings Release; Exhibits
2026-07-08Earnings Release; Exhibits
2026-05-26Officer/Director Change; Shareholder Vote; Exhibits
2026-05-06Earnings Release; Exhibits
2026-04-14Earnings Release; Exhibits

Context

Shares outstanding350,351,510
Free float99.5%
Institutional ownership105.3%
Beta0.37
Dividend yield2.03%
Last dividend$0.25 on 2026-10-22
50 / 200-day average$43.36 / $36.31
Large-cap Energy median P/E17.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (None).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where APA sits among 48 scored companies in Oil & Gas Exploration & Production (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureAPAIndustry medianIndustry percentileSector median
P/E (TTM) 10.3x 11.0x
47th		 16.6x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 1.9x 2.0x
47th		 1.8x
Price / book 2.5x 1.5x
83rd		 1.9x
Price / tangible book 1.6x 1.3x
67th		 1.9x
Price / free cash flow 8.2x 11.4x
24th		 11.9x
Price / operating cash flow 3.8x 4.5x
35th		 6.9x
Enterprise value $20.7B $6.1B
77th		 $5.3B
EV / sales 2.3x 2.7x
34th		 2.4x
EV / EBITDA 3.6x 6.0x
9th		 9.0x
EV / EBIT 5.8x 10.0x
9th		 14.1x
EV / free cash flow 9.8x 12.3x
35th		 14.6x
Earnings yield 9.7% 6.5%
66th		 4.6%
FCF yield 12.2% 8.4%
81st		 5.8%
Operating cash flow yield 26.3% 21.3%
66th		 13.6%
Graham number (per share) $45.98 $45.98
50th		 $32.92

Profitability (TTM)

MeasureAPAIndustry medianIndustry percentileSector median
Gross margin 38.8% 48.6%
34th		 31.9%
EBITDA margin 65.7% 48.0%
77th		 26.7%
Operating margin 11.8% 24.6%
17th		 15.2%
EBIT margin 40.3% 25.8%
79th		 13.3%
Net margin 19.0% 17.5%
55th		 8.0%
NOPAT margin 7.5% 20.3%
17th		 12.4%
FCF margin 23.9% 20.0%
64th		 7.8%
Operating cash flow margin 51.3% 46.3%
66th		 21.8%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 4.2% 6.7%
34th		 6.7%
Stock comp / revenue 0.0% 0.9%
0th		 0.7%
Effective tax rate 36.3% 21.0%
96th		 21.0%

Returns on capital

MeasureAPAIndustry medianIndustry percentileSector median
ROE (on average equity) 25.9% 13.7%
87th		 12.2%
ROA 9.3% 7.0%
70th		 4.8%
ROIC 6.4% 10.7%
26th		 9.9%
ROCE 22.9% 9.8%
96th		 9.8%
Return on tangible assets 19.8% 9.4%
91st		 8.3%
Cash ROIC (OCF / invested capital) 43.3% 25.0%
89th		 18.4%
Gross profitability (GP / assets) 19.1% 15.7%
60th		 14.8%
ROIC, 3-yr average 8.9% 8.5%
55th		 7.0%
ROIC, 5-yr average 18.0% 17.7%
51st		 10.1%
ROE, 5-yr average 168.2% 21.1%
97th		 14.8%
Incremental ROIC -6.7% 18.2%
26th		 14.8%

Growth

MeasureAPAIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) -12.2% 14.4%
7th		 10.2%
Revenue growth (QoQ) 3.1% 25.4%
26th		 13.0%
Revenue CAGR, 3 yr -1.2% 2.1%
38th		 2.0%
Revenue CAGR, 5 yr 8.2% 19.9%
21st		 13.7%
Gross profit CAGR, 3 yr -10.6% -1.3%
26th		 1.7%
Operating income CAGR, 3 yr -34.8% -14.4%
15th		 -2.0%
Net income growth (TTM YoY) 55.1% 23.5%
61st		 23.5%
Net income CAGR, 3 yr 4.1% -12.5%
90th		 -7.8%
EPS growth (TTM YoY) 58.6% 23.6%
61st		 19.9%
EPS CAGR, 3 yr -0.5% -20.5%
90th		 -9.8%
EPS CAGR, 5 yr 17.8% 22.1%
46th		 20.5%
FCF growth (TTM YoY) 29.0% 27.0%
53rd		 19.9%
FCF CAGR, 3 yr 24.5% 3.0%
80th		 -3.4%
Operating cash flow CAGR, 3 yr 5.5% 4.9%
52nd		 3.2%
Book value CAGR, 3 yr 105.2% 7.9%
100th		 5.6%
Dividend CAGR, 3 yr -5.3% -4.9%
47th		 -0.1%
Sustainable growth rate 20.4% 11.9%
79th		 9.4%

Margin history & stability

MeasureAPAIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 42.6% 46.5%
41st		 31.0%
Operating margin, 3-yr average 26.8% 26.4%
52nd		 15.4%
Net margin, 3-yr average 20.7% 16.5%
66th		 8.7%
FCF margin, 3-yr average 15.4% 15.4%
50th		 7.2%
Revenue stability (0-1) 0.61 0.70
43rd		 0.64
Earnings stability (0-1) 0.00 0.14
2nd		 0.22
Margin stability (0-1) 0.84 0.80
70th		 0.73

Liquidity (latest quarter)

MeasureAPAIndustry medianIndustry percentileSector median
Cash & short-term investments $444.0M $119.5M
72nd		 $248.6M
Net cash (− = net debt) −$3.4B −$1.1B
21st		 −$1.1B
Working capital −$130.0M −$48.6M
36th		 $205.0M
Current ratio 0.95 0.95
51st		 1.41
Quick ratio 0.79 0.90
43rd		 1.13
Cash ratio (cash + ST investments / current liabilities) 0.18 0.27
38th		 0.36
Defensive interval (days) 276 days 340 days
28th		 768 days

Leverage & solvency (latest quarter)

MeasureAPAIndustry medianIndustry percentileSector median
Total debt $3.9B $1.3B
77th		 $1.3B
Debt / equity 0.55 0.48
61st		 0.61
Net debt / equity 0.49 0.38
63rd		 0.45
Debt / assets 21.6% 23.7%
45th		 28.7%
Debt / capital 35.6% 32.6%
61st		 37.9%
Debt / EBITDA 0.67 1.74
20th		 1.98
Net debt / EBITDA 0.59 1.32
25th		 1.43
Interest coverage (EBIT / interest) 14.5x 4.9x
80th		 4.1x
Cash interest coverage 18.4x 11.9x
74th		 6.7x
Debt payback (years of OCF) 0.9 yrs 1.4 yrs
26th		 2.3 yrs
Liabilities / assets 55.8% 47.1%
72nd		 54.6%
IS credit model rating AA- — —
Implied credit spread (bps) 100 312
19th		 275

Efficiency

MeasureAPAIndustry medianIndustry percentileSector median
Asset turnover 0.49 0.39
79th		 0.49
Fixed asset turnover 0.68 0.47
76th		 0.94
Inventory turnover 14.3 26.0
29th		 11.7
Receivables turnover 6.5 9.4
17th		 7.8
Days sales outstanding 56 days 39 days
83rd		 46 days
Days inventory outstanding 26 days 14 days
71st		 31 days
Days payables outstanding 61 days 49 days
57th		 41 days
Cash conversion cycle (days) 21 days −2 days
85th		 18 days
Capex / revenue 27.4% 24.8%
59th		 11.9%
Capex / depreciation 1.08 0.99
54th		 1.04
Operating expense ratio 46.8% 25.0%
83rd		 16.5%

Cash flow & earnings quality

MeasureAPAIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.70 2.19
74th		 2.02
FCF / net income 1.26 0.98
59th		 0.96
FCF / operating cash flow 46.6% 45.0%
55th		 48.4%
Capex / operating cash flow 53.4% 54.4%
47th		 51.6%
Accruals ratio -15.8% -12.1%
28th		 -7.7%
Sloan accruals ratio -10.1% -9.7%
49th		 -4.7%
Earnings quality score (0-1) 0.75 0.75
0th		 0.75

Dividends & buybacks

MeasureAPAIndustry medianIndustry percentileSector median
Dividend yield 2.0% 2.3%
43rd		 1.7%
Dividend per share (TTM) $1.00 $0.78
53rd		 $0.66
Payout ratio (dividends / net income) 21.2% 27.5%
33rd		 29.4%
Dividends / FCF 16.9% 21.1%
42nd		 28.1%
Dividend growth (YoY) -0.5% -1.5%
56th		 0.5%
Buyback yield 1.3% 0.3%
66th		 0.2%
Shareholder yield (dividends + buybacks) 3.4% 3.5%
47th		 3.2%
Share count change (YoY) -2.2% 0.2%
19th		 0.2%
Buybacks, last 5 years $1.3B $74.3M
87th		 $38.8M

Scores & forensic checks

MeasureAPAIndustry medianIndustry percentileSector median
IS score 62 57
57th		 51
IS profitability 50 66
11th		 50
IS growth 48 61
37th		 61
IS value 78 71
66th		 57
IS momentum 78 86
43rd		 77
IS risk (safety) 50 30
62nd		 50
IS quality 68 81
28th		 68
IS balance sheet 67 56
70th		 55
IS earnings quality 53 61
43rd		 65
IS cash flow 75 61
68th		 50
Piotroski F-score (0-9) 7 7
43rd		 6
Altman Z-score 1.9 1.6
62nd		 2.0
Beneish M-score 13.83 −2.72
96th		 −2.62
Ohlson O-score −8.63 −8.38
47th		 −7.87
IS credit score 80 54
77th		 58

Per share

MeasureAPAIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $4.74 $2.27
70th		 $1.88
Book value per share $19.83 $18.64
53rd		 $14.22
Tangible book per share $22.50 $19.14
57th		 $12.86
Revenue per share $24.95 $14.22
74th		 $19.06
FCF per share $5.95 $2.65
72nd		 $2.05
Operating cash flow per share $12.79 $6.43
79th		 $4.95
Cash per share $1.25 $1.32
49th		 $1.70

Size (TTM)

MeasureAPAIndustry medianIndustry percentileSector median
Market cap $17.2B $4.3B
77th		 $4.1B
Revenue $8.8B $1.9B
81st		 $2.0B
EBITDA $5.8B $719.1M
83rd		 $606.3M
Net income $1.7B $288.8M
85th		 $134.0M
Free cash flow $2.1B $254.3M
83rd		 $199.4M
Total assets $18.0B $5.6B
77th		 $4.4B
Shareholders' equity $7.0B $2.1B
72nd		 $1.8B
Employees 1,791 429
85th		 1,717

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Hooper Charles W
Director
 Award / grant 1,203——33,074
2026-09-30Fisher Kenneth M.
Director
 Award / grant 1,203——15,260
2026-09-30Ellis Juliet S
Director
 Award / grant 1,203——90,969
2026-09-30Bay Annell R
Director
 Award / grant 1,203——105,525
2026-09-30Weaving Anya
Director
 Award / grant 1,203——19,907
2026-09-30Stover David L
Director
 Award / grant 1,203——32,780
2026-09-30Ragauss Peter A
Director
 Award / grant 1,203——103,649
2026-09-30Mckay Lamar
Director
 Award / grant 1,804——57,827
2026-09-30Joung Chansoo
Director
 Award / grant 1,203——246,547
2026-06-30Ellis Juliet S
Director
 Award / grant 1,535——89,323
2026-06-30Bay Annell R
Director
 Award / grant 1,535——103,725
2026-06-30Ragauss Peter A
Director
 Award / grant 1,535——101,859

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJunSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1826,010—
DiscretionaryAcquired115,500—
Open-market saleDisposed19,800$392,392
Option exerciseAcquired15,000—
Option exerciseDisposed15,000—
Tax withholdingDisposed11,968$73,800
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 2 notices · 32,800 shares · $1.2M
FiledFilerShares proposedEst. proceeds
2026-05-20Mark Maddox9,800$392,376
2026-03-18Bob Matthew Regis23,000$833,373
2024-10-28Lannie P Anthony89,501$2.1M
2024-08-15Rabun Daniel Wayne75,998$2.3M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 3 trades (0 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-01-09Gilbert CisnerosHouseSale$1,001 - $15,0002026-02-16
2026-01-09Gilbert CisnerosHouseSale (Full)$1,001 - $15,0002026-02-13
2026-01-08Gilbert Ray CisnerosHouseSale (Full)$1,001 - $15,0002026-02-13
2025-08-05Gilbert CisnerosHousePurchase$1,001 - $15,0002025-09-12
2023-09-21Pete RickettsSenateSale$50,001 - $100,0002023-10-20
2023-09-21Pete RickettsSenateSale (Full)$50,001 - $100,0002023-10-19
2023-09-21John Peter RickettsSenateSale (Full)$50,001 - $100,0002023-10-19
2017-06-15Patty MurraySenateSale (Full)$1,001 - $15,0002017-06-22
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.36,021,838$1.2B10.28%
STATE STREET CORP25,181,423$820.2M7.19%
VANGUARD CAPITAL MANAGEMENT LLC23,098,547$752.3M6.59%
VANGUARD PORTFOLIO MANAGEMENT LLC17,331,282$564.5M4.95%
DIMENSIONAL FUND ADVISORS LP16,838,388$548.4M4.81%
Invesco Ltd.15,316,704$498.9M4.37%
Sixth Street Partners Management Company, L.P.13,296,425$433.1M3.80%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC13,296,425$433.1M3.80%
GEODE CAPITAL MANAGEMENT, LLC12,855,410$431.8M3.67%
FMR LLC9,834,880$320.3M2.81%
MORGAN STANLEY8,179,962$266.4M2.33%
Smead Capital Management, Inc.7,808,568$254.3M2.23%
GOLDMAN SACHS GROUP INC7,108,379$231.5M2.03%
UBS Group AG5,286,417$172.2M1.51%
LSV ASSET MANAGEMENT4,883,110$159.0M1.39%

Institutional ownership by quarter

2023-092026-06105.3%
% of shares held by 13F filers
2023-092026-06815
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-30815105.3%131306246121
2026-03-3181898.5%19727422792
2025-12-3172696.9%12427422160
2025-09-3067797.3%12526119562
2025-06-3062496.2%10726117681
2025-03-3160793.7%87195230119
2024-12-3165293.5%12423021386
2024-09-3062488.0%70235222103
2024-06-3066187.7%10430515298
2024-03-3166677.3%9425721885
2023-12-3166470.7%10921923077
2023-09-3064170.7%8020024548

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-12SCHEDULE 13G/AVanguard Windsor II Fund5.0%17,561,357
2026-04-29SCHEDULE 13GVanguard Capital Management7.4%26,034,385
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2026-02-17SCHEDULE 13G/AHarris Associates, Inc.3.3%11,644,670
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VWNFX0.87%$572.0M
VWNAX0.87%$572.0M
SCHD0.41%$468.0M
VITSX0.02%$461.9M
VTI0.02%$461.9M
VTSAX0.02%$461.9M

Share structure

Shares outstanding350,351,510
Float348,710,306
Free float99.5%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$8.0B$11.1B$8.3B$9.7B$8.9B
Cost of revenue$4.4B$4.8B$4.1B$5.4B$5.6B
Gross profit$3.5B$6.3B$4.2B$4.3B$3.3B
R&D$0$0$0$0$0
SG&A$376.0M$483.0M$351.0M$372.0M$350.0M
Operating income$2.7B$5.1B$3.4B$3.2B$2.8B
EBITDA$3.7B$7.6B$4.8B$4.2B$5.4B
Pretax income$1.9B$5.7B$2.9B$1.5B$2.8B
Income tax$578.0M$1.7B−$324.0M$417.0M$1.1B
Net income$1.1B$3.7B$2.9B$804.0M$1.4B
EPS, diluted$2.59$11.02$9.25$2.28$3.99
Diluted shares375.0M333.0M309.0M353.0M359.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$302.0M$245.0M$87.0M$625.0M$516.0M
Receivables$1.4B$1.5B$1.6B$2.0B$1.1B
Inventory$473.0M$427.0M$453.0M$425.0M$351.0M
Total current assets$2.4B$2.7B$2.5B$3.4B$2.1B
PP&E, net$8.3B$9.0B$10.0B$12.6B$12.7B
Goodwill & intangibles$0$0$0$0$0
Total assets$13.3B$13.1B$15.2B$19.4B$19.0B
Accounts payable$731.0M$771.0M$658.0M$1.2B$871.0M
Total current liabilities$2.1B$2.9B$2.4B$3.0B$2.6B
Long-term debt$7.3B$5.5B$5.2B$6.0B$4.3B
Total liabilities$14.0B$11.8B$11.6B$13.0B$12.0B
Shareholders' equity−$717.0M$1.3B$3.7B$6.4B$7.0B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.3B$4.1B$3.2B$1.1B$1.4B
Depreciation & amortization$1.4B$1.2B$1.5B$2.3B$2.5B
Stock-based compensation$0$0$0$0$0
Change in working capital$37.0M$121.0M−$417.0M−$535.0M$292.0M
Operating cash flow$3.5B$4.9B$3.1B$3.6B$4.5B
Capital expenditure−$1.1B−$2.4B−$2.4B−$2.9B−$2.8B
Free cash flow$2.4B$2.5B$772.0M$769.0M$1.8B
Investing cash flow−$833.0M−$1.5B−$2.1B−$924.0M−$2.2B
Net debt issued / repaid−$1.4B−$1.5B−$259.0M−$1.3B−$1.4B
Buybacks−$847.0M−$1.4B−$329.0M−$246.0M−$280.0M
Dividends paid−$52.0M−$207.0M−$308.0M−$353.0M−$360.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin44.3%56.5%51.1%44.2%38.1%
Operating margin37.1%46.7%40.2%33.0%30.9%
Net margin14.2%32.5%34.5%8.3%16.1%
FCF margin29.9%23.0%9.6%7.9%19.9%
ROE-70.2%-615.0%185.5%20.3%25.2%
ROIC36.0%63.5%47.0%21.6%16.1%
ROA8.7%27.3%20.1%4.6%7.5%
Debt / equity-4.7713.292.001.170.79
Interest coverage5.5x18.8x9.7x5.1x11.4x
Current ratio1.120.931.021.150.82
Revenue growth+80.0%+38.7%−25.2%+17.6%−8.4%
EPS growth+124.8%+257.0%−16.9%−76.6%+85.4%
P/E at year end7.6x3.7x3.5x10.1x6.1x
EV / EBITDA at year end4.3x2.6x3.2x3.2x2.4x
FCF yield at year end27.79%18.90%7.87%9.55%20.49%
Dividend payout8.6%5.7%10.8%43.9%25.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Oil And Gas, Excluding Purchased$6.5B$9.2B$7.4B$8.2B$7.2B
Oil and Gas————$8.9B
Oil and Gas, Purchased$1.5B$1.9B$894.0M$1.5B$1.7B

Revenue by region · FY2025

Segment United States$3.8B · 53%
North Sea$3.4B · 47%

Street estimates by fiscal year

Next report 2026-11-04 · consensus EPS $1.55 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$9.3B$8.8B – $10.2B$6.59$4.97 – $7.69157.5x
2027$8.4B$7.8B – $9.9B$4.96$3.21 – $6.90169.9x
2028$8.0B$6.9B – $9.0B$4.15$2.00 – $6.051011.9x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-05$1.90$1.89−0.5%$2.5B$2.4B−2.5%
2026-05-06$1.11$1.38+24.3%$2.1B$2.2B+3.8%
2026-02-25$0.64$0.91+41.3%$1.8B$2.0B+12.1%
2025-11-05$0.79$0.93+17.3%$2.1B$2.1B+2.7%
2025-08-06$0.45$0.87+93.3%$2.1B$2.2B+5.6%
2025-05-07$0.83$1.06+27.7%$2.2B$2.6B+20.0%
2025-02-26$0.97$0.79−18.6%$2.3B$2.7B+17.4%
2024-11-07$1.01$1.00−1.0%$2.3B$2.5B+11.9%
2024-07-31$0.94$1.17+24.5%$2.3B$2.5B+9.6%
2024-05-01$0.90$0.78−13.3%$2.4B$2.0B−18.6%
2024-02-21$1.38$1.15−16.7%$2.1B$2.2B+5.6%
2023-11-01$1.09$1.33+22.0%$2.0B$2.3B+15.1%
2023-08-02$0.66$0.85+28.8%$2.0B$1.8B−8.1%
2023-05-03$0.98$1.19+21.4%$1.8B$2.0B+10.7%
2023-02-22$1.29$1.48+14.7%$2.1B$2.5B+16.7%
2022-11-02$1.92$1.97+2.6%$2.4B$2.9B+21.2%
2022-08-03$2.33$2.37+1.7%$2.6B$3.0B+16.3%
2022-05-04$2.08$1.92−7.7%$2.4B$2.7B+10.4%
2022-02-21$1.47$1.29−12.2%$1.9B$2.3B+19.4%
2021-11-03$0.89$0.98+10.1%$1.9B$2.1B+11.3%
2021-08-04$0.57$0.70+22.8%$1.5B$1.8B+14.0%
2021-05-05$0.66$0.91+37.9%$1.7B$1.9B+7.3%
2021-02-24$-0.08$-0.05+37.5%$1.7B$1.2B−28.1%
2020-11-04$-0.37$-0.16+56.8%$2.5B$1.1B−54.3%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.206-150.206-220.106-290.207-060.207-130.207-200.207-270.208-030.208-100.308-170.208-240.208-31
Week ofNotionalSharesTrades
2026-08-31$184.5M4,211,04185,419
2026-08-24$207.7M4,940,72484,983
2026-08-17$317.2M7,348,354116,191
2026-08-10$248.0M6,134,967105,490
2026-08-03$235.6M6,507,183125,205
2026-07-27$197.0M5,522,222105,466

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1561.0%
DateShort shareShort volumeTotal volume
2026-10-1561.0%611,8211,003,124
2026-10-1463.1%902,7291,430,749
2026-10-1355.1%838,7761,523,480
2026-10-1254.8%740,2991,350,069
2026-10-0963.3%840,2471,326,394
2026-10-0854.7%1,168,0722,135,972
2026-10-0756.8%573,1081,009,792
2026-10-0657.2%540,138944,327
2026-10-0546.0%571,1001,242,649
2026-10-0253.0%632,3191,192,058
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.8Jan-1.0Feb+0.3Mar+12.3Apr-1.4May+1.5Jun+0.6Jul-1.5Aug+0.7Sep+0.7Oct+2.1Nov+1.1Dec
MonthAvg returnUp yearsYears
Jan+0.8%45%20
Feb−1.0%45%20
Mar+0.3%62%21
Apr+12.3%55%20
May−1.4%50%20
Jun+1.5%60%20
Jul+0.6%60%20
Aug−1.5%35%20
Sep+0.7%55%20
Oct+0.7%50%20
Nov+2.1%45%20
Dec+1.1%45%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1469.7
MFI79.2
ADX26.1
Stochastic %K / %D87.8 / 89.0
Williams %R-1.4
CCI152
TSI / signal22.8 / 14.1
Chaikin money flow-0.05
ATR$1.53
Bollinger width19.0%
Volume vs 20-day avg1.11x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$44.55 (+10.3%)
SMA 50$43.61 (+12.7%)
SMA 200$36.39 (+35.1%)
EMA 21$45.31 (+8.5%)
EMA 50$43.25 (+13.6%)
EMA 200$36.78 (+33.6%)
Bollinger upper$48.78 (+0.8%)
Bollinger lower$40.32 (+21.9%)
Parabolic SAR$44.14 (+11.4%)
Open the live chart, 110+ indicators

About APA Corporation

APA Corporation operates in the upstream segment of the oil and natural gas industry, utilizing its various subsidiaries to explore for, develop, and produce hydrocarbon assets. The company maintains significant operational presences in the United States, Egypt, and the United Kingdom, while also conducting exploration activities offshore Suriname. Furthermore, APA Corporation manages critical gathering, processing, and transmission infrastructure within West Texas and holds ownership interests in four major pipelines connecting the Permian Basin to the Gulf Coast. Established in 1954, the company is headquartered in Houston, Texas.

https://apacorp.com

Key executives

NameTitlePayBorn
John J. ChristmannChief Executive Officer & Director$5.3M1967
Stephen J. RineyPresident$3.4M1961
Kimberly O. WarnicaExecutive Vice President, Chief Legal Officer & Corporate Secretary$2.4M1974
Tracey K. HendersonExecutive Vice President of Exploration$2.0M1967
Ben C. RodgersExecutive Vice President & Chief Financial Officer$1.8M1980
Mark D. MaddoxExecutive Vice President of Administration$1.4M1967
Scott R. GrandtSenior Vice President of U.S. Assets & Corporate Development——
Stephane AkaManaging Director of Investor Relations——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
John J. Christmann IV Chief Executive Officer2025$1.3M$6.0M$3.5M$13.2M
Stephen J. Riney President2025$900,000$3.4M$2.0M$7.9M
Kimberly O. Warnica EVP, Chief Legal Officer, and Corporate Secretary2025$606,859$1.3M$1.2M$4.2M
D. Clay Bretches Former EVP, Operations2025$290,742$1.7M$0$4.1M
Tracey K. Henderson EVP, Exploration2025$625,000$1.4M$1.2M$3.8M
Ben C. Rodgers EVP, Chief Financial Officer2025$580,232$951,232$1.0M$3.0M

Employees

2k20202k20212k20222k20232k20242k2025

Dividends

Ex-dateAmountPaid
2026-10-22$0.252026-11-23
2026-07-22$0.252026-08-21
2026-04-22$0.252026-05-22
2026-01-22$0.252026-02-23
2025-10-22$0.252025-11-21
2025-07-22$0.252025-08-22
2025-04-22$0.252025-05-22
2025-01-22$0.252025-02-21

Moat model

None · Cost Advantage · 2026-06-30
Cost advantage53
Intangibles18
Switching costs30
Network effect27
Efficient scale50
Our component scores (0-100) and overall 34.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms