APA Corporation (APA) Financial Ratios
30 years of historical data (1996–2025) · Energy · Oil & Gas Exploration & Production
EV/EBITDA
↓
3.38
+7% vs avg
5yr avg: 3.15
30Y Low2.5·High10.5
P/FCF
↑
7.61
-5% vs avg
5yr avg: 8.05
30Y Low4.2·High128.4
P/B Ratio
↓
1.96
↓-54% vs avg
5yr avg: 4.27
30Y Low0.9·High11.6
ROE
↓
21.5%
↑-94% vs avg
5yr avg: 330.2%
30Y Low-250%·High113%
Debt/EBITDA
↓
0.91
↓-22% vs avg
5yr avg: 1.17
30Y Low0.4·High4.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
APA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
APA Corporation trades at 9.6x earnings, 38% above its 5-year average of 7.0x, sitting at the 27th percentile of its historical range. Compared to the Energy sector median P/E of 16.9x, the stock trades at a discount of 43%. On a free-cash-flow basis, the stock trades at 7.6x P/FCF, 5% below the 5-year average of 8.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.5B | $8.8B | $8.2B | $11.1B | $15.5B | $10.1B | $5.4B | $9.6B | $10.1B | $16.2B | $24.1B |
| Enterprise Value | $17.8B | $13.1B | $13.7B | $16.3B | $20.9B | $17.4B | $14.0B | $18.1B | $17.6B | $23.0B | $31.2B |
| P/E Ratio → | 9.60 | 6.13 | 10.13 | 3.88 | 4.24 | 10.38 | — | — | 262.50 | 12.38 | — |
| P/S Ratio | 1.52 | 0.98 | 0.84 | 1.34 | 1.40 | 1.26 | 1.21 | 1.49 | 1.37 | 2.75 | 4.48 |
| P/B Ratio | 1.96 | 1.25 | 1.28 | 3.00 | 11.56 | — | — | 2.16 | 1.14 | 1.84 | 3.13 |
| P/FCF | 7.61 | 4.94 | 10.60 | 14.36 | 6.11 | 4.23 | 47.05 | — | — | — | 50.01 |
| P/OCF | 2.98 | 1.93 | 2.25 | 3.54 | 3.14 | 2.88 | 3.86 | 3.36 | 2.67 | 6.66 | 9.90 |
P/E links to full P/E history page with 30-year chart
APA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
APA Corporation's enterprise value stands at 3.4x EBITDA, 7% above its 5-year average of 3.2x. The Energy sector median is 8.1x, placing the stock at a 59% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.47 | 1.41 | 1.97 | 1.89 | 2.18 | 3.15 | 2.79 | 2.39 | 3.90 | 5.82 |
| EV / EBITDA | 3.38 | 2.48 | 2.50 | 3.33 | 3.15 | 4.29 | 7.19 | 5.80 | 4.02 | 6.47 | 10.47 |
| EV / EBIT | 6.48 | 4.50 | 7.17 | 5.08 | 3.45 | 7.56 | — | — | 12.97 | 17.24 | — |
| EV / FCF | — | 7.35 | 17.80 | 21.12 | 8.22 | 7.29 | 122.72 | — | — | — | 64.91 |
APA Profitability
Margins and return-on-capital ratios measuring operating efficiency
APA Corporation earns an operating margin of 30.8%, significantly above the Energy sector average of 14.5%. Operating margins have compressed from 40.6% to 30.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 21.5% indicates solid capital efficiency, compared to the sector median of 7.9%. ROIC of 17.8% represents solid returns on invested capital versus a sector median of 6.4%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.3% | 37.3% | 44.2% | 51.1% | 56.5% | 44.3% | 20.4% | 29.5% | 43.0% | 34.4% | 19.7% |
| Operating Margin | 30.8% | 30.8% | 32.9% | 40.6% | 45.9% | 33.7% | 3.9% | 6.9% | 26.8% | 12.1% | -2.7% |
| Net Profit Margin | 16.1% | 16.1% | 8.3% | 34.5% | 33.2% | 14.2% | -107.9% | -54.2% | 0.5% | 22.2% | -26.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.5% | 21.5% | 16.0% | 113.4% | 1170.1% | — | -250.5% | -52.9% | 0.5% | 15.8% | -16.4% |
| ROA | 7.5% | 7.5% | 4.6% | 20.1% | 27.8% | 8.7% | -31.0% | -17.7% | 0.2% | 5.9% | -5.9% |
| ROIC | 17.8% | 17.8% | 23.1% | 32.2% | 57.3% | 27.7% | 1.2% | 2.3% | 9.3% | 3.5% | -0.7% |
| ROCE | 16.7% | 16.7% | 21.9% | 29.1% | 47.5% | 23.8% | 1.2% | 2.5% | 10.2% | 3.6% | -0.6% |
APA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
APA Corporation carries a Debt/EBITDA ratio of 0.9x, which is very conservative (62% below the sector average of 2.4x). Net debt stands at $4.3B ($4.8B total debt minus $516M cash). Interest coverage of 25.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.69 | 0.69 | 0.97 | 1.44 | 4.18 | — | — | 1.96 | 0.93 | 0.97 | 1.11 |
| Debt / EBITDA | 0.91 | 0.91 | 1.13 | 1.08 | 0.85 | 1.88 | 4.57 | 2.80 | 1.88 | 2.39 | 2.86 |
| Net Debt / Equity | — | 0.61 | 0.87 | 1.41 | 4.00 | — | — | 1.90 | 0.85 | 0.78 | 0.93 |
| Net Debt / EBITDA | 0.81 | 0.81 | 1.01 | 1.07 | 0.81 | 1.80 | 4.43 | 2.72 | 1.71 | 1.92 | 2.40 |
| Debt / FCF | — | 2.41 | 7.20 | 6.76 | 2.11 | 3.06 | 75.67 | — | — | — | 14.90 |
| Interest Coverage | 25.70 | 25.70 | 5.03 | 9.70 | 18.81 | 5.50 | -10.17 | -6.54 | 3.34 | 3.21 | -2.97 |
APA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.82x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.02x to 0.82x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.82 | 0.82 | 1.15 | 1.02 | 0.93 | 1.12 | 1.41 | 1.06 | 1.22 | 1.45 | 1.76 |
| Quick Ratio | 0.69 | 0.69 | 1.01 | 0.84 | 0.78 | 0.90 | 1.04 | 0.79 | 1.04 | 1.31 | 1.50 |
| Cash Ratio | 0.20 | 0.20 | 0.21 | 0.04 | 0.08 | 0.14 | 0.20 | 0.13 | 0.32 | 0.65 | 0.75 |
| Asset Turnover | — | 0.47 | 0.50 | 0.54 | 0.84 | 0.60 | 0.35 | 0.36 | 0.34 | 0.27 | 0.24 |
| Inventory Turnover | 15.93 | 15.93 | 12.79 | 8.94 | 11.29 | 9.40 | 7.17 | 9.11 | 10.45 | 10.49 | 9.06 |
| Days Sales Outstanding | — | 43.46 | 73.43 | 70.98 | 48.32 | 63.72 | 74.73 | 59.72 | 59.31 | 83.39 | 76.71 |
APA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
APA Corporation returns 4.7% to shareholders annually — split between a 2.6% dividend yield and 2.1% buyback yield. The payout ratio of 25.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 10.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.6% | 4.1% | 4.3% | 2.8% | 1.3% | 0.5% | 2.3% | 3.9% | 3.8% | 2.4% | 1.6% |
| Payout Ratio | 25.1% | 25.1% | 43.9% | 10.8% | 5.6% | 4.6% | — | — | 955.0% | 29.1% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.4% | 16.3% | 9.9% | 25.8% | 23.6% | 9.6% | — | — | 0.4% | 8.1% | — |
| FCF Yield | 13.1% | 20.3% | 9.4% | 7.0% | 16.4% | 23.7% | 2.1% | — | — | — | 2.0% |
| Buyback Yield | 2.1% | 3.2% | 3.0% | 3.0% | 9.2% | 8.4% | 0.0% | 0.0% | 3.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.7% | 7.3% | 7.3% | 5.7% | 10.5% | 8.9% | 2.3% | 3.9% | 6.8% | 2.4% | 1.6% |
| Shares Outstanding | — | $359M | $353M | $309M | $333M | $375M | $378M | $377M | $384M | $383M | $379M |
Peer Comparison
Compare APA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 APAYou | $14B | 9.6 | 3.4 | 7.6 | 37.3% | 30.8% | 21.5% | 17.8% | 0.9 |
 DVN | $29B | 11.1 | 4.9 | 9.3 | 24.7% | 22.0% | 17.5% | 12.3% | 1.2 |
 COP | $145B | 18.7 | 7.0 | 8.6 | 24.6% | 19.6% | 12.4% | 10.4% | 1.0 |
 OVV | $15B | 12.5 | 5.5 | 10.1 | 28.6% | 21.6% | 11.5% | 8.0% | 1.8 |
 CTRA | $25B | 14.5 | 5.9 | 15.1 | 60.4% | 89.1% | 12.3% | 10.9% | 0.8 |
 PR | $18B | 16.6 | 6.0 | 31.5 | 32.7% | 29.0% | 8.5% | 7.5% | 1.1 |
 FANG | $55B | 34.0 | 7.0 | 10.5 | 35.2% | 32.7% | 4.0% | 6.7% | 1.5 |
 EOG | $72B | 14.8 | 6.1 | 18.4 | 68.1% | 35.1% | 16.8% | 19.1% | 0.7 |
 SM | $3B | 5.1 | 2.6 | 5.7 | 31.9% | 26.1% | 14.3% | 8.9% | 1.1 |
 MTDR | $7B | 9.5 | 4.5 | 29.7 | 43.7% | 32.5% | 13.3% | 10.5% | 1.5 |
 HAL | $34B | 26.9 | 11.7 | 20.2 | 15.7% | 10.2% | 12.2% | 10.2% | 2.4 |
| Energy Median | — | 16.9 | 8.1 | 14.1 | 32.7% | 14.5% | 7.9% | 6.4% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonAPA — Frequently Asked Questions
Quick answers to the most common questions about buying APA stock.
What is APA Corporation's P/E ratio?
APA Corporation's current P/E ratio is 9.6x. The historical average is 13.4x. This places it at the 27th percentile of its historical range.
What is APA Corporation's EV/EBITDA?
APA Corporation's current EV/EBITDA is 3.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.2x.
What is APA Corporation's ROE?
APA Corporation's return on equity (ROE) is 21.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -0.1%.
Is APA stock overvalued?
Based on historical data, APA Corporation is trading at a P/E of 9.6x. This is at the 27th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is APA Corporation's dividend yield?
APA Corporation's current dividend yield is 2.62% with a payout ratio of 25.1%.
What are APA Corporation's profit margins?
APA Corporation has 37.3% gross margin and 30.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does APA Corporation have?
APA Corporation's Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.