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APA

APA Corporation

APA

APA Corporation • NASDAQ
$24.97 ▲ 1.22% (+0.30)
Market Cap $8.86 B
52w High $25.83
52w Low $13.58
Dividend Yield 1.00%
P/E 5.97
Volume 2.36M
Outstanding Shares 354.74M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.115B ▼ $146M ▲ $205M ▼ 9.693% ▼ $0.57 ▼ $1.166B ▼
Q2-2025 $2.178B ▼ $120M ▼ $603M ▲ 27.686% ▲ $1.67 ▲ $1.628B ▲
Q1-2025 $2.636B ▼ $235M ▼ $347M ▼ 13.164% ▲ $0.95 ▼ $1.493B ▲
Q4-2024 $2.712B ▲ $268M ▲ $354M ▲ 13.053% ▲ $0.96 ▲ $1.337B ▲
Q3-2024 $2.531B $227M $-223M -8.811% $-0.6 $356M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $475M ▲ $17.699B ▼ $10.836B ▼ $5.965B ▲
Q2-2025 $107M ▲ $18.078B ▼ $11.175B ▼ $5.905B ▲
Q1-2025 $67M ▼ $18.531B ▼ $12.068B ▼ $5.436B ▲
Q4-2024 $625M ▲ $19.39B ▲ $13.028B ▼ $5.28B ▲
Q3-2024 $64M $19.376B $13.216B $5.114B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $581M ▼ $1.46B ▲ $-700M ▼ $-392M ▲ $368M ▲ $741M ▲
Q2-2025 $665M ▲ $1.181B ▲ $-95M ▲ $-1.046B ▼ $40M ▲ $514M ▲
Q1-2025 $418M ▼ $1.096B ▲ $-786M ▼ $-868M ▼ $-558M ▼ $306M ▼
Q4-2024 $425M ▲ $1.036B ▼ $83M ▲ $-558M ▲ $561M ▲ $342M ▼
Q3-2024 $-139M $1.339B $-855M $-580M $-96M $472M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Oil and Gas
Oil and Gas
 $0 ▲$0 ▲$0 ▲$2.12Bn ▲
Oil And Gas Excluding Purchased
Oil And Gas Excluding Purchased
 $2.19Bn ▲$2.04Bn ▼$1.72Bn ▼$1.80Bn ▲
Oil and Gas Purchased
Oil and Gas Purchased
 $520.00M ▲$600.00M ▲$460.00M ▼$310.00M ▼

Five-Year Company Overview

Income Statement

Income Statement APA’s revenue and operating profit have been solid but very cyclical, closely tracking swings in oil and gas prices. After a very strong period in 2022 and 2023, profit dropped in 2024 despite healthy sales, suggesting narrower margins and possibly higher costs or one‑off charges. The pattern shows a company that can be very profitable in favorable commodity environments but can see earnings fall sharply when prices, volumes, or costs move against it. Overall, the income statement reflects an efficient operator in a volatile industry rather than a smooth, steadily growing earner.

Balance Sheet

Balance Sheet The balance sheet has improved meaningfully over the last few years. APA has moved from negative equity to a more solid positive capital base, which indicates past balance sheet repair and retained profits. Debt has been reduced from earlier peak levels, though it still represents a significant part of the capital structure, so leverage remains a key factor to watch. Cash on hand is modest but better than in prior years. In simple terms, the company is financially stronger than it was during the downturn, yet still exposed to the usual balance‑sheet risks of a capital‑intensive, debt‑using energy business.

Cash Flow

Cash Flow Cash generation is a clear strength. APA has consistently produced solid operating cash flow, even in tougher years, which speaks to the quality and productivity of its asset base. Free cash flow has generally been positive, though it has come down recently as the company has stepped up investment spending on new projects and development drilling. The trade‑off is clear: more cash is being reinvested into the portfolio, which can support future production but leaves less near‑term flexibility. Overall, cash flows look resilient but tightly linked to commodity prices and capital spending discipline.

Competitive Edge

Competitive Edge APA operates as a mid‑sized exploration and production company with a diversified footprint across North America, Egypt, the North Sea, and emerging positions in Suriname and Alaska. Its competitive edge leans heavily on being a low‑cost, operationally efficient producer rather than on sheer scale. The focus on cost control and portfolio pruning has helped it compete against larger integrated oil majors and national oil companies. However, the company still faces intense competition for attractive acreage, is exposed to political and regulatory risk in some regions, and lacks the downstream and trading arms that can stabilize earnings for fully integrated peers. Its edge is sharper in efficiency and targeted exploration than in overall market power.

Innovation and R&D

Innovation and R&D APA is not a classic high‑R&D company, but it is an active adopter of advanced technologies. Partnerships with firms like Palantir and Tatsoft show a serious push into artificial intelligence, real‑time data analytics, and digital field operations. These tools help lower drilling and operating costs, improve well performance, and tighten oversight of logistics and contracts. On the exploration side, APA’s work in Suriname and Alaska, often via joint ventures with major partners, highlights a strong technical and geological capability. The upcoming Suriname development also incorporates emissions‑reduction technologies, signaling attention to environmental performance as well as cost. Innovation here is practical and operations‑focused, aimed at squeezing more value out of every barrel.

Summary

Overall, APA looks like a lean, efficiency‑driven exploration and production company that has repaired its balance sheet, generates solid cash, and is leaning into technology and high‑impact exploration to drive the next leg of growth. Financial results are inherently volatile, with profits swinging strongly alongside oil and gas prices and investment cycles. The portfolio is more diversified and better managed than during prior downturns, but the business still carries meaningful leverage and geopolitical exposure. The big swing factors for the coming years are execution and timing on major projects in Suriname and Alaska, the company’s ability to keep costs low, and the broader trajectory of global energy prices and the energy transition.

NEWS

November 10, 2025 · 4:16 PM UTC

APA Corporation Announces Appointment of Robert P. Rayphole as Vice President, Chief Accounting Officer and Controller

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November 5, 2025 · 4:16 PM UTC

APA Corporation Announces Third-Quarter 2025 Financial and Operational Results

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October 8, 2025 · 4:53 PM UTC

APA Corporation Provides Third-Quarter 2025 Supplemental Information and Schedules Results Conference Call for Nov. 6 at 10 a.m. Central Time

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September 9, 2025 · 4:15 PM UTC

APA Corporation Declares Cash Dividend on Common Shares

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