Overview
APA Corp
Latest 10-K: FY2025, filed Feb 26, 2026 · Open the 10-K (Inline XBRL) ↗
- Gross profit
- Not reported
- Operating income
- $3.09B
- 26.3%YoYup from FY2024
- OperatingIncome
- Net income
- $1.43B
- 78.4%YoYup from FY2024
- NetIncome
- Diluted EPS
- $3.99
- 75.8%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 359.0M
- 1.7%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Per share
- Diluted EPS was $3.99, up 75.8% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $3.09B26.3%up Benchmark median 7.3% | $2.44B33.9%down Benchmark median 7.4% | $3.70B33.6%down Benchmark median 4.9% | $5.57B94.6%up Benchmark median 7.5% | $2.86Bn/m Benchmark median 23.5% | 1.9% Benchmark median 7.2% |
| Net Income | $1.43B78.4%up Benchmark median 4.8% | $0.80B71.8%down Benchmark median 5.7% | $2.85B22.3%down Benchmark median 1.9% | $3.67B§277.6%up Benchmark median 1.3% | $0.97B§n/m Benchmark median 33.9% | 10.2% Benchmark median 4.1% |
| EPS (Diluted) | $3.9975.8%up Benchmark median 6.2% | $2.2775.5%down Benchmark median 7.9% | $9.2516.1%down Benchmark median 1.9% | $11.02325.5%up Benchmark median 1.5% | $2.59n/m Benchmark median 34.8% | 11.4% Benchmark median 5.6% |
§ Net income available to common stockholders; the company files no net-income line.
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $17.76B8.4%down Benchmark median 5.6% | $19.39B27.2%up Benchmark median 3.4% | $15.24B16.0%up Benchmark median 4.1% | $13.15B1.2%down Benchmark median 2.2% | $13.30B4.4%up Benchmark median 6.7% | 7.5% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — Benchmark median 4.4% |
| Stockholders' Equity | $7.00B10.1%up Benchmark median 6.8% | $6.36B72.4%up Benchmark median 5.4% | $3.69B174.4%up Benchmark median 7.3% | $1.34Bn/m Benchmark median 2.5% | negative: -$0.72Bn/m Benchmark median 9.0% | n/m Benchmark median 6.1% |
| Cash & Equivalents | $516.00M17.4%down Benchmark median 5.2% | $625.00M618.4%up Benchmark median 1.9% | $87.00M64.5%down Benchmark median 6.7% | $245.00M18.9%down Benchmark median -8.6% | $302.00M15.3%up Benchmark median -2.9% | 14.3% Benchmark median 2.0% |
| Total Debt | $4.49B25.7%down Benchmark median 2.1% | $6.04B16.5%up Benchmark median 0.2% | $5.19B4.9%down Benchmark median 0.3% | $5.45B27.4%down Benchmark median 0.1% | $7.51B14.4%down Benchmark median -0.1% | -12.1% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.54B25.6%up Benchmark median 6.3% | $3.62B15.7%up Benchmark median 4.8% | $3.13B36.7%down Benchmark median 9.9% | $4.94B41.4%up Benchmark median -0.7% | $3.50B151.9%up Benchmark median 10.7% | 6.8% Benchmark median 7.0% |
| Capital Expenditures | — | — | — | — | — | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | — | — | — | — | — | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
16.3%
Wall Street
on net earnings
FY2024 9.8%
— Not reported
Value investor
on free cash flow
FY2024 — Not reported
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 6.1×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
42.3%
Wall Street
on EBITDA
FY2024 34.7%
24.2%
Value investor
on EBIT
FY2024 18.0%
Gap −18.1 pts: Value-investor figure 18.1 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 2.4×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
79.8%
Wall Street
on book equity
FY2024 78.0%
79.8%
Value investor
on tangible book
FY2024 78.1%
Gap Same: Both views read the same
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 1.3×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
21.5%
Wall Street
ROE: net income ÷ equity
FY2024 16.0%
13.5%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 11.2%
Gap −8.0 pts: Value-investor figure 8.0 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
0.82×
Wall Street
Current ratio
FY2024 1.15×
0.69×
Value investor
Quick ratio, inventory excluded
FY2024 1.01×
Gap −0.13×: Value-investor figure 0.13 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
1.20×
Wall Street
EBITDA ÷ total debt
FY2024 0.78×
— Not reported
Value investor
FCF ÷ total debt
FY2024 — Not reported
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 0.74×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
16.7×
Wall Street
EBITDA ÷ interest
FY2024 11.7×
9.6×
Value investor
EBIT ÷ interest
FY2024 6.1×
Gap −7.1×: Value-investor figure 7.1 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on APA yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on APA and publish the result to your public profile.
Cite this page
Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/APA
Valuein. (2026, October 30). APA Corp (APA) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/APA
@misc{valuein_apa_2026,
author = {{Valuein}},
title = {APA Corp (APA) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/APA}},
note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}10-K filed Feb 26, 2026 · accession 0001841666-26-000015
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