APA Corp (US) Financials

APA

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Neutral

5/9

APA Corp (US) passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Cash-Backed

3.24x

For every $1 of reported earnings, APA Corp (US) generates $3.24 in operating cash flow ($3.6B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

6.1x

APA Corp (US) earns $6.1 in operating income for every $1 of interest expense ($2.4B vs $402.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

This page shows APA Corp (US) (APA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Export CSV

Key Financial Metrics

Revenue

N/A

EBITDA

$4.7B

YoY-9.3%

5Y CAGR+54.9%

APA Corp (US)'s EBITDA was $4.7B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 9.3% from the prior year.

Free Cash Flow

N/A

Net Income

$1.1B

YoY-65.1%

APA Corp (US) reported $1.1B in net income in fiscal year 2024. This represents a decrease of 65.1% from the prior year.

EPS (Diluted)

$2.27

YoY-75.5%

APA Corp (US) earned $2.27 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 75.5% from the prior year.

Cash & Debt

$625.0M

YoY+618.4%

5Y CAGR+20.4%

APA Corp (US) held $625.0M in cash against $6.0B in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.00

YoY+0.0%

5Y CAGR+0.0%

APA Corp (US) paid $1.00 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

364M

YoY+20.6%

5Y CAGR-0.6%

APA Corp (US) had 364M shares outstanding in fiscal year 2024. This represents an increase of 20.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

21.2%

YoY-99.6pp

APA Corp (US)'s ROE was 21.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 99.6 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

APA Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$372.0M+6.0%	$351.0M-27.3%	$483.0M+28.5%	$376.0M+29.7%	$290.0M-28.6%	$406.0M
Operating Income	$2.4B-33.1%	$3.6B-34.4%	$5.6B+94.6%	$2.9B+169.7%	-$4.1B-90.6%	-$2.2B
Interest Expense	$402.0M+14.5%	$351.0M+5.7%	$332.0M-20.8%	$419.0M-4.3%	$438.0M+1.9%	$430.0M
Income Tax	$417.0M+228.7%	-$324.0M-119.6%	$1.7B+185.8%	$578.0M+803.1%	$64.0M-90.5%	$674.0M
Net Income	$1.1B-65.1%	$3.2B-21.4%	$4.1B+210.9%	$1.3B+126.8%	-$4.9B-33.2%	-$3.7B
EPS (Diluted)	$2.27-75.5%	$9.25-16.1%	$11.02+325.5%	$2.59+120.1%	$-12.86-36.4%	$-9.43

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$95.0M+43.9%	$66.0M-32.7%	$98.0M+6.5%	$92.0M+8.2%	$85.0M-8.6%	$93.0M	N/A	$139.0M
Operating Income	$767.0M+4.1%	$737.0M-14.8%	$865.0M+704.9%	-$143.0M-114.6%	$979.0M+41.7%	$691.0M	N/A	$1.1B
Interest Expense	$72.0M-16.3%	$86.0M-5.5%	$91.0M-16.5%	$109.0M+0.9%	$108.0M+27.1%	$85.0M	N/A	$89.0M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$205.0M-66.0%	$603.0M+44.3%	$418.0M+287.4%	-$223.0M-141.2%	$541.0M+155.2%	$212.0M	N/A	$555.0M
EPS (Diluted)	$0.57-65.9%	$1.67+74.0%	$0.96+260.0%	$-0.60-141.1%	$1.46+231.8%	$0.44	N/A	$1.49

APA Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$19.4B+27.2%	$15.2B+16.0%	$13.1B-1.2%	$13.3B+4.4%	$12.7B-29.6%	$18.1B
Current Assets	$3.4B+38.3%	$2.5B-9.1%	$2.7B+13.8%	$2.4B+28.9%	$1.8B	N/A
Cash & Equivalents	$625.0M+618.4%	$87.0M-64.5%	$245.0M-18.9%	$302.0M+15.3%	$262.0M+6.1%	$247.0M
Inventory	$425.0M-6.2%	$453.0M+6.1%	$427.0M-9.7%	$473.0M-3.9%	$492.0M	N/A
Accounts Receivable	$2.0B+21.7%	$1.6B+9.8%	$1.5B	N/A	N/A	N/A
Goodwill	N/A	N/A	$0	$0	$0-100.0%	$87.0M
Total Liabilities	$14.1B+12.1%	$12.6B-1.1%	$12.7B-14.6%	$14.9B+3.6%	$14.4B+5.4%	$13.6B
Current Liabilities	$3.0B+22.9%	$2.4B-17.6%	$2.9B+37.7%	$2.1B+61.9%	$1.3B	N/A
Long-Term Debt	$6.0B+15.5%	$5.2B-4.9%	$5.5B-25.3%	$7.3B-16.8%	$8.8B	N/A
Total Equity	$5.3B+98.9%	$2.7B+527.7%	$423.0M+126.5%	-$1.6B+2.7%	-$1.6B-136.7%	$4.5B
Retained Earnings	-$2.2B+27.2%	-$3.0B+49.1%	-$5.8B+38.7%	-$9.5B+9.3%	-$10.5B	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$17.7B-2.1%	$18.1B-2.4%	$18.5B-4.4%	$19.4B-4.0%	$20.2B+35.1%	$15.0B-1.9%	$15.2B+12.5%	$13.5B
Current Assets	$2.0B-13.8%	$2.3B-6.4%	$2.4B-28.2%	$3.4B+16.7%	$2.9B+16.4%	$2.5B+1.8%	$2.5B-12.1%	$2.8B
Cash & Equivalents	$475.0M+343.9%	$107.0M+59.7%	$67.0M-89.3%	$625.0M+290.6%	$160.0M+56.9%	$102.0M+17.2%	$87.0M-8.4%	$95.0M
Inventory	$361.0M-6.5%	$386.0M-2.8%	$397.0M-6.6%	$425.0M-8.8%	$466.0M-1.3%	$472.0M+4.2%	$453.0M+2.3%	$443.0M
Accounts Receivable	$1.0B-32.8%	$1.5B-17.2%	$1.8B-7.0%	$2.0B+1.2%	$1.9B+21.2%	$1.6B-0.8%	$1.6B-8.2%	$1.8B
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$11.7B-3.6%	$12.2B-7.0%	$13.1B-7.2%	$14.1B-4.5%	$14.8B+19.7%	$12.3B-1.9%	$12.6B+1.0%	$12.5B
Current Liabilities	$2.5B-10.5%	$2.8B+3.0%	$2.8B-6.6%	$3.0B+2.3%	$2.9B+34.2%	$2.2B-10.5%	$2.4B-8.8%	$2.6B
Long-Term Debt	$4.3B-0.3%	$4.3B-18.1%	$5.2B-12.6%	$6.0B-11.1%	$6.7B+30.2%	$5.2B-0.2%	$5.2B-7.1%	$5.6B
Total Equity	$6.0B+1.0%	$5.9B+8.6%	$5.4B+3.0%	$5.3B-2.6%	$5.4B+108.0%	$2.6B-1.8%	$2.7B+146.3%	$1.1B
Retained Earnings	-$1.0B+17.0%	-$1.2B+33.4%	-$1.8B+16.1%	-$2.2B+5.7%	-$2.3B+19.1%	-$2.8B+4.5%	-$3.0B+37.5%	-$4.7B

APA Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$3.6B+15.7%	$3.1B-36.7%	$4.9B+41.4%	$3.5B+151.9%	$1.4B-51.6%	$2.9B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$924.0M+56.8%	-$2.1B-41.5%	-$1.5B-81.4%	-$833.0M+43.2%	-$1.5B+57.5%	-$3.4B
Financing Cash Flow	-$2.2B-87.8%	-$1.1B+67.1%	-$3.5B-33.0%	-$2.6B-2920.4%	$93.0M-17.0%	$112.0M
Dividends Paid	$353.0M+14.6%	$308.0M+48.8%	$207.0M+298.1%	$52.0M-57.7%	$123.0M-67.3%	$376.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$1.5B+23.6%	$1.2B+7.8%	$1.1B+5.8%	$1.0B+18.1%	$877.0M+138.3%	$368.0M-64.3%	$1.0B+34.8%	$764.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$700.0M-636.8%	-$95.0M+87.9%	-$786.0M-1047.0%	$83.0M+229.7%	-$64.0M+27.3%	-$88.0M+75.3%	-$356.0M+46.6%	-$667.0M
Financing Cash Flow	-$392.0M+62.5%	-$1.0B-20.5%	-$868.0M-55.6%	-$558.0M+26.1%	-$755.0M-184.9%	-$265.0M+61.1%	-$682.0M-373.6%	-$144.0M
Dividends Paid	$90.0M0.0%	$90.0M-1.1%	$91.0M-2.2%	$93.0M+1.1%	$92.0M+21.1%	$76.0M0.0%	$76.0M-1.3%	$77.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

APA Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	21.2%-99.6pp	120.8%-844.2pp	965.0%	N/A	N/A	N/A
Return on Assets	5.8%-15.3pp	21.0%-10.0pp	31.1%+21.2pp	9.9%+48.3pp	-38.5%-18.1pp	-20.3%
Current Ratio	1.15+0.1	1.02+0.1	0.93-0.2	1.12-0.3	1.41	N/A
Debt-to-Equity	1.13-0.8	1.95-10.9	12.89+17.5	-4.57+0.8	-5.35-8.4	3.06
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	3.4%-6.8pp	10.2%+2.5pp	7.7%	N/A	10.0%+1.9pp	8.1%	N/A	51.5%
Return on Assets	1.2%-2.2pp	3.3%+1.1pp	2.3%+3.4pp	-1.1%-3.8pp	2.7%+1.3pp	1.4%	N/A	4.1%
Current Ratio	0.78-0.0	0.80-0.1	0.89-0.3	1.15+0.1	1.01-0.2	1.16+0.1	1.02-0.0	1.06
Debt-to-Equity	0.720.0	0.73-0.2	0.96-0.2	1.13-0.1	1.24-0.7	1.99+0.0	1.95-3.2	5.18
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Range Resources RRC

$8.9B

Matador Res Co MTDR

$5.9B

Chord Energy Corp CHRD

$5.8B

Comstock Rscs CRK

$5.6B

Magnolia Oil & Gas Corp MGY

$4.8B

Frequently Asked Questions

Is APA Corp (US) profitable?

Yes, APA Corp (US) (APA) reported a net income of $1.1B in fiscal year 2024.

What is APA Corp (US)'s earnings per share (EPS)?

APA Corp (US) (APA) reported diluted earnings per share of $2.27 for fiscal year 2024. This represents a -75.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is APA Corp (US)'s EBITDA?

APA Corp (US) (APA) had EBITDA of $4.7B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does APA Corp (US) have?

As of fiscal year 2024, APA Corp (US) (APA) had $625.0M in cash and equivalents against $6.0B in long-term debt.

Does APA Corp (US) pay dividends?

Yes, APA Corp (US) (APA) paid $1.00 per share in dividends during fiscal year 2024.

What is APA Corp (US)'s return on equity (ROE)?

APA Corp (US) (APA) has a return on equity of 21.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is APA Corp (US)'s operating cash flow?

APA Corp (US) (APA) generated $3.6B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are APA Corp (US)'s total assets?

APA Corp (US) (APA) had $19.4B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does APA Corp (US) have outstanding?

APA Corp (US) (APA) had 364M shares outstanding as of fiscal year 2024.

What is APA Corp (US)'s current ratio?

APA Corp (US) (APA) had a current ratio of 1.15 as of fiscal year 2024, which is considered adequate.

What is APA Corp (US)'s debt-to-equity ratio?

APA Corp (US) (APA) had a debt-to-equity ratio of 1.13 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is APA Corp (US)'s return on assets (ROA)?

APA Corp (US) (APA) had a return on assets of 5.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is APA Corp (US)'s Piotroski F-Score?

APA Corp (US) (APA) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are APA Corp (US)'s earnings high quality?

APA Corp (US) (APA) has an earnings quality ratio of 3.24x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can APA Corp (US) cover its interest payments?

APA Corp (US) (APA) has an interest coverage ratio of 6.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.