APA Corporation (APA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the APA SEC filings page.
This page shows APA Corporation (APA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
APA's cash generation recovered faster than earnings in FY2025 while leverage improved but short-term liquidity tightened.
In FY2025, operating cash flow of$4.5B was more than triple net income of$1.4B , a gap consistent with substantial noncash depreciation and working-capital effects. That cash-to-earnings relationship was even wider in FY2024, so cash conversion remained favorable but became less exceptional rather than simply improving with profit.
Balance-sheet leverage improved materially: debt-to-equity fell from 1.1x in FY2024 to 0.7x in FY2025, indicating a larger equity cushion relative to borrowings. However, the current ratio fell from 1.2x to 0.8x, meaning near-term obligations became heavier relative to current assets even as borrowing dependence declined.
A $17.8B asset base produced
Financial Health Signals
APA Corporation does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
APA Corporation passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, APA Corporation generates $3.17 in operating cash flow ($4.5B OCF vs $1.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
APA Corporation earns $9.56 in operating income for every $1 of interest expense ($3.1B vs $323.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
APA Corporation's EBITDA was $1.8B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 40.6% from the same quarter a year earlier. Against the prior quarter it is up 10.9%.
APA Corporation reported $747.0M in net income in Q2 2026. This represents an increase of 23.9% from the same quarter a year earlier. Against the prior quarter it is up 67.5%.
APA Corporation earned $2.11 per diluted share (EPS) in Q2 2026. This represents an increase of 26.3% from the same quarter a year earlier. Against the prior quarter it is up 67.5%.
Not reported for Q2 2026.
Cash & Balance Sheet
APA Corporation held $444.0M in cash against $3.7B in long-term debt as of Q2 2026.
APA Corporation paid $0.25 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Margins & Returns
APA Corporation's ROE was 10.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.7 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
APA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $68.0M+3.0% | $115.0M+17.3% | N/A | $95.0M+3.3% | $66.0M-22.4% | $98.0M+5.4% | N/A | $92.0M-33.8% |
| Operating Income | $1.3B+73.2% | $1.1B+22.0% | N/A | $767.0M+636.4% | $739.0M-24.5% | $865.0M+25.2% | N/A | -$143.0M-113.5% |
| EBITDA | $1.8B+40.6% | $1.6B+6.6% | N/A | $1.3B+194.7% | $1.3B-19.0% | $1.5B+34.5% | N/A | $452.0M-69.4% |
| Interest Expense | $69.0M-19.8% | $70.0M-23.1% | N/A | $72.0M-33.9% | $86.0M-20.4% | $91.0M+7.1% | N/A | $109.0M+22.5% |
| Net Income | $747.0M+23.9% | $446.0M+28.5% | N/A | $205.0M+191.9% | $603.0M+11.5% | $347.0M+63.7% | N/A | -$223.0M-140.2% |
| EPS (Basic) | $2.11+26.3% | $1.26+31.3% | $0.79-19.4% | $0.57+195.0% | $1.67+14.4% | $0.96+118.2% | $0.98-83.0% | -$0.60-140.3% |
| EPS (Diluted) | $2.11+26.3% | $1.26+31.3% | $0.79-19.4% | $0.57+195.0% | $1.67+14.4% | $0.96+118.2% | $0.98-83.0% | -$0.60-140.3% |
| Diluted Shares (Avg) | 354M-1.9% | 354M-2.7% | N/A | 358M-3.2% | 361M-3.0% | 364M+20.5% | N/A | 370M+20.1% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Income Tax.
APA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $18.0B-0.6% | $18.1B-2.4% | $17.8B-8.4% | $17.7B-8.7% | $18.1B-10.5% | $18.5B+23.9% | $19.4B+27.2% | $19.4B+43.0% |
| Current Assets | $2.3B-0.5% | $2.3B-6.3% | $2.1B-37.7% | $2.0B-45.5% | $2.3B-21.6% | $2.4B-2.5% | $3.4B+38.3% | $3.6B+29.3% |
| Cash & Equivalents | $444.0M+315.0% | $293.0M+337.3% | $516.0M-17.4% | $475.0M+642.2% | $107.0M-33.1% | $67.0M-34.3% | $625.0M+618.4% | $64.0M-32.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $371.0M-3.9% | $334.0M-15.9% | $351.0M-17.4% | $361.0M-27.9% | $386.0M-17.2% | $397.0M-15.9% | $425.0M-6.2% | $501.0M+13.1% |
| Accounts Receivable | $1.2B-19.0% | $1.5B-20.1% | $1.1B-45.8% | $1.0B-38.6% | $1.5B-22.1% | $1.8B+14.1% | $2.0B+21.7% | $1.7B-5.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $11.0B-10.0% | $11.6B-11.2% | $11.7B-17.3% | $11.7B-17.7% | $12.2B-17.6% | $13.1B+6.1% | $14.1B+12.1% | $14.3B+14.4% |
| Current Liabilities | $2.4B-15.4% | $2.5B-9.8% | $2.6B-13.0% | $2.5B-13.0% | $2.8B-1.6% | $2.8B+28.3% | $3.0B+22.9% | $2.9B+11.0% |
| Non-Current Liabilities | $8.5B-8.4% | $9.1B-11.6% | $9.1B-18.4% | $9.2B-18.9% | $9.3B-21.5% | $10.3B+1.4% | $11.2B+9.5% | $11.3B+15.3% |
| Long-Term Debt | $3.7B-12.8% | $4.3B-18.3% | $4.3B-28.6% | $4.3B-32.9% | $4.3B-36.4% | $5.2B+1.1% | $6.0B+15.5% | $6.4B+14.1% |
| Total Equity | $7.0B+18.9% | $6.5B+18.8% | $6.1B+15.4% | $6.0B+16.6% | $5.9B+8.9% | $5.4B+108.5% | $5.3B+98.9% | $5.1B+374.4% |
| Retained Earnings | $384.0M+131.9% | -$275.0M+84.8% | -$721.0M+66.5% | -$1.0B+60.1% | -$1.2B+47.3% | -$1.8B+36.0% | -$2.2B+27.2% | -$2.5B+47.0% |
Not reported in any period shown, so not listed: Goodwill.
APA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.7B+44.5% | $554.0M-49.5% | $808.0M-22.0% | $1.5B+9.0% | $1.2B+34.7% | $1.1B+197.8% | $1.0B+0.6% | $1.3B+75.3% |
| Depreciation & Amortization | $504.0M-4.9% | $553.0M-14.0% | $566.0M-13.3% | $565.0M-5.0% | $530.0M-9.9% | $643.0M+49.5% | $653.0M+54.4% | $595.0M+42.3% |
| Investing Cash Flow | -$591.0M-522.1% | -$542.0M+31.0% | -$572.0M-789.2% | -$700.0M+18.1% | -$95.0M-48.4% | -$786.0M-793.2% | $83.0M+123.3% | -$855.0M-28.2% |
| Financing Cash Flow | -$964.0M+7.8% | -$235.0M+72.9% | -$195.0M+65.1% | -$392.0M+32.4% | -$1.0B-38.5% | -$868.0M-227.5% | -$558.0M+18.2% | -$580.0M-302.8% |
| Dividends Paid | $88.0M-2.2% | $88.0M-3.3% | $89.0M-4.3% | $90.0M-2.2% | $90.0M-2.2% | $91.0M+19.7% | $93.0M+22.4% | $92.0M+19.5% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
APA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 10.6%+0.4pp | 6.9%+0.5pp | N/A | 3.4%+7.8pp | 10.2%+0.2pp | 6.4%-1.8pp | N/A | -4.4%-55.8pp |
| Return on Assets | 4.2%+0.8pp | 2.5%+0.6pp | N/A | 1.2%+2.3pp | 3.3%+0.7pp | 1.9%+0.5pp | N/A | -1.1%-5.3pp |
| Current Ratio | 0.95+0.1x | 0.920.0x | 0.82-0.3x | 0.78-0.5x | 0.80-0.2x | 0.89-0.3x | 1.15+0.1x | 1.24+0.2x |
| Debt-to-Equity | 0.53-0.2x | 0.66-0.3x | 0.70-0.4x | 0.72-0.5x | 0.73-0.5x | 0.96-1.0x | 1.13-0.8x | 1.25-3.9x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Note: The current ratio is below 1.0 (0.82), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| APA Corporation APA | FY2025 | N/A | $1.4B | N/A | $15.3B | — |
| Range Resources Corp RRC | FY2025 | $3.1B | $658.0M | 21.1% | $8.9B | 20/100 |
| MATADOR RESOURCES COMPANY MTDR | FY2025 | $3.7B | $759.2M | 20.5% | $6.6B | 53/100 |
| Chord Energy Corporation CHRD | FY2025 | $4.9B | $44.5M | 0.9% | $7.5B | 46/100 |
| Comstock Resources, Inc. CRK | FY2025 | $2.2B | $395.6M | 17.8% | $3.8B | 36/100 |
| Magnolia Oil & Gas Corporation MGY | FY2025 | $1.3B | $325.3M | 24.8% | $6.5B | 61/100 |
Where APA Corporation Ranks
Frequently Asked Questions
Is APA Corporation profitable?
Yes, APA Corporation (APA) reported a net income of $1.4B in fiscal year 2025.
What is APA Corporation's EBITDA?
APA Corporation (APA) had EBITDA of $5.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does APA Corporation have?
As of fiscal year 2025, APA Corporation (APA) had $516.0M in cash and equivalents against $4.3B in long-term debt.
Does APA Corporation pay dividends?
Yes, APA Corporation (APA) paid $1.00 per share in dividends during fiscal year 2025.
What is APA Corporation's return on equity (ROE)?
APA Corporation (APA) has a return on equity of 23.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is APA Corporation's operating cash flow?
APA Corporation (APA) generated $4.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are APA Corporation's total assets?
APA Corporation (APA) had $17.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What is APA Corporation's current ratio?
APA Corporation (APA) had a current ratio of 0.82 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is APA Corporation's debt-to-equity ratio?
APA Corporation (APA) had a debt-to-equity ratio of 0.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is APA Corporation's return on assets (ROA)?
APA Corporation (APA) had a return on assets of 8.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is APA Corporation's P/E ratio?
APA Corporation (APA) trades at 10.7x earnings, its market capitalization divided by net income of $1.4B net income, FY2025. The market capitalization is $15.3B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is APA Corporation's price-to-sales ratio?
APA Corporation (APA) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $15.3B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is APA Corporation's Piotroski F-Score?
APA Corporation (APA) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are APA Corporation's earnings high quality?
APA Corporation (APA) has an earnings quality ratio of 3.17x, 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 Corporation cover its interest payments?
APA Corporation (APA) has an interest coverage ratio of 9.56x, 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.