Large net loss but positive 2025 comprehensive income at YPF (NYSE: YPF)

Rhea-AI Filing Summary

YPF Sociedad Anónima reports a total net loss for 2025 of 1,048,272 million pesos, but strong other comprehensive income of 4,842,993 million pesos, resulting in total comprehensive income of 3,794,721 million pesos. Comprehensive income attributable to shareholders was 3,685,318 million pesos.

Shareholders’ equity as of December 31, 2025 was 16,018,983 million pesos, including non-controlling interests of 333,766 million pesos. The Board proposed releasing existing investment and treasury share reserves, absorbing accumulated losses of 1,096,460 million pesos, and reallocating 38,468 million to a treasury share reserve and 8,415,450 million to an investment reserve.

Insights

Equity & capital structure analyst

YPF offsets a large net loss with strong OCI, preserving equity.

YPF shows a sizeable 2025 net loss of 1,048,272 million pesos, yet other comprehensive income of 4,842,993 million pesos lifts total comprehensive income to 3,794,721 million pesos. This supports shareholders’ equity at 16,018,983 million pesos as of December 31, 2025.

The Board proposes releasing existing investment and treasury share reserves and using them, after deducting 51,423 million of restricted amounts, to absorb accumulated losses of 1,096,460 million pesos. This restructures equity without indicating cash distributions.

New allocations include 38,468 million to a treasury share reserve to enable future purchases for share-based benefit plans and 8,415,450 million to an investment reserve. Subsequent shareholder meeting decisions will determine whether these proposals take effect.

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Form 6-K: How Foreign Companies Report to the SEC →

Accepted by SEC EDGAR 02/26/2026 - 07:28 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2026

Commission File Number: 001-12102

YPF Sociedad Anónima

(Exact name of registrant as specified in its charter)

Macacha Güemes 515

C1106BKK Buenos Aires, Argentina

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  ☒    Form 40-F  ☐

YPF Sociedad Anónima

TABLE OF CONTENT

ITEM 1 Translation of letter to the Argentine Securities Commission dated February 26, 2026.

City of Buenos Aires, February 26, 2026

To the

Comisión Nacional de Valores

Ref: Financial Statements as of 12/31/2025

Dear Sirs:

In order to comply with the requirements of Article No. 62, of the ByMA Listing Regulations, we inform you that the Board of Directors of YPF S.A. (the “Company” or “YPF”), at its meeting held on February 26, 2026, approved the consolidated financial statements for the year ended December 31, 2025. Relevant information of such financials statements of YPF follows:

1) Net income for the year (1) (in millions of pesos)

Attributable to shareholders of the parent company			(1,087,721	)
Attributable to non-controlling interest			39,449
Total net profit or loss for the year			(1,048,272)

2) Other comprehensive income (1) (in millions of pesos)

Attributable to shareholders of the parent company			4,773,039
Attributable to non-controlling interest			69,954
Total other comprehensive income for the year			4,842,993

3) Comprehensive income (1) (in millions of pesos)

Attributable to shareholders of the parent company			3,685,318
Attributable to non-controlling interests			109,403
Total comprehensive income for the year			3,794,721

4) Detail of Shareholders’ equity as of 12/31/2025 (1) (in millions of pesos)

Shareholders’ contributions:
Capital			3,921
Adjustment to capital			6,081
Treasury shares			12
Adjustment to treasury shares			20
Share-based Benefit plans			9,323
Acquisition cost of treasury shares			(34,274	)
Share trading premiums			13,707
Issuance premiums			640
Total shareholders’ contributions			(570	)
Legal reserve			1,141,047
Reserve for investments			9,553,655
Reserve for purchase of treasury shares			48,146

Other comprehensive income			6,039,399
Unappropriated retained earnings and losses			(1,096,460	)
Subtotal Shareholders’ equity			15,685,217
Non-controlling interests			333,766
Total Shareholders’ equity			16,018,983

(1) Amounts in accordance with IFRS

Subsection I) 3. Proposals regarding dividends in cash and in kind, capitalized earnings, monetary adjustments and other concepts: reserves constitution

On February 26, 2026 the YPF S.A.’s Board of Directors proposed to the Shareholders’ meeting, after deduction of Ps. 51,423 million corresponding to the amounts whose distribution is restricted, the following: (i) to fully release the reserve for investments and the reserve for purchase of treasury shares; (ii) to absorb the accumulated losses in the unappropriated retained earnings and losses account up to Ps. 1,096,460 million; (iii) to allocate Ps. 38,468 million to constitute a reserve for purchase of treasury shares, in order to grant the Board of Directors the possibility to purchase the Company’s own shares at the time it deems appropriate for their allocation to the share-based benefit plans (in accordance with Articles 64 and 67 of Law No. 26,831); and (iv) to allocate Ps. 8,415,450 million to constitute a reserve for investments under the terms of Article 70, paragraph 3 of Law No. 19,550.

5) Shares owned by the parent group

As of December 31, 2025, the number of shares belonging to the controlling shareholder of the Company amounted to 200,593,289 shares, which include 200,589,525 class D shares and 3,764 class A shares.

6) Shares with rights to securities representing debt convertible into shares and/or purchase options over company shares, corresponding to ownership of the shareholder or parent group

None.

7) Parent shareholder of the company

Federal Government—Ministry of Economy—Secretary of Energy, with legal domicile at Hipólito Yrigoyen 250, Autonomous City of Buenos Aires.

Yours faithfully,

Margarita Chun

Market Relations Officer

YPF S.A.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				YPF Sociedad Anónima
Date: February 26, 2025				By:		/s/ Margarita Chun
				Name:		Margarita Chun
				Title:		Market Relations Officer

FAQ

What was YPF (YPF) net income for the year ended December 31, 2025?

YPF recorded a total net loss of 1,048,272 million pesos in 2025. This figure combines results attributable to shareholders and non-controlling interests, with 1,087,721 million pesos loss attributable to shareholders and 39,449 million pesos income attributable to non-controlling interests.

How did YPF (YPF) achieve positive comprehensive income in 2025 despite a net loss?

YPF’s comprehensive income reached 3,794,721 million pesos in 2025. This was driven by other comprehensive income of 4,842,993 million pesos, which more than offset the 1,048,272 million pesos net loss, resulting in positive comprehensive income for shareholders and non-controlling interests.

What was YPF (YPF) shareholders’ equity as of December 31, 2025?

Total shareholders’ equity was 16,018,983 million pesos at year-end 2025. This includes 15,685,217 million pesos attributable to shareholders and 333,766 million pesos to non-controlling interests, reflecting reserves, other comprehensive income, and unappropriated retained earnings and losses.

What reserve and equity actions did YPF (YPF) Board propose for 2025 results?

The Board proposed releasing certain reserves and absorbing accumulated losses. After deducting 51,423 million pesos of restricted amounts, it proposed absorbing 1,096,460 million pesos losses, then allocating 38,468 million pesos to a treasury share reserve and 8,415,450 million pesos to an investment reserve.

How many YPF (YPF) shares are held by the controlling shareholder?

The controlling shareholder held 200,593,289 YPF shares as of December 31, 2025. This position includes 200,589,525 class D shares and 3,764 class A shares, representing the stake of the Federal Government’s Ministry of Economy, Secretary of Energy.

Who is the parent shareholder of YPF (YPF) and does it hold convertible securities?

The parent shareholder is the Federal Government—Ministry of Economy—Secretary of Energy. As of December 31, 2025, YPF reported no shares with rights to debt securities convertible into shares or purchase options corresponding to the parent shareholder or parent group.