Last 48 quarters of trend data · Energy · Oil & Gas Exploration & Production
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
APA Corporation's quarterly P/E stands at 7.7x, up 28.7% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 9.8% YoY to 2.5x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 7.61 | 7.74 | 10.65 | 2.74 | 5.53 | 6.01 | — | 5.04 | 19.53 | 1.55 | 6.90 | 6.95 | 11.56 |
| — | +28.7% | — | -45.7% | -71.7% | +287.5% | — | -27.4% | +69.0% | -81.6% | +3.3% | +115.7% | +507.4% | |
| P/S Ratio | 1.21 | 1.09 | 1.04 | 0.76 | 0.73 | 0.79 | 0.89 | 1.08 | 1.33 | 1.27 | 1.37 | 1.47 | 1.40 |
| — | +38.8% | +15.9% | -29.4% | -45.5% | -38.2% | -34.8% | -26.7% | -5.0% | -16.4% | +40.3% | +50.1% | +4.3% | |
| P/B Ratio | 0.91 | 0.72 | 1.28 | 0.96 | 1.18 | 1.34 | 1.47 | 1.69 | 2.84 | 2.98 | 6.01 | 6.23 | 7.85 |
| — | -46.1% | -13.1% | -43.1% | -58.3% | -55.1% | -75.5% | -72.9% | -63.8% | -73.3% | -17.4% | -21.5% | -53.4% | |
| P/FCF | 6.05 | 2.69 | 2.96 | 3.22 | 6.25 | 6.23 | 4.79 | 22.63 | — | 6.05 | 23.44 | 6.28 | — |
| — | -56.9% | -38.3% | -85.8% | — | +2.9% | -79.6% | +260.0% | — | +25.0% | -8.6% | +141.4% | — | |
| EV / EBITDA | 2.75 | 2.45 | 2.51 | 2.33 | 2.31 | 2.23 | 2.63 | 2.98 | 3.73 | 2.93 | 3.42 | 3.90 | 3.66 |
| — | +9.8% | -4.3% | -21.8% | -38.2% | -23.6% | -23.1% | -23.7% | +2.1% | -21.4% | +29.3% | +65.8% | +19.5% | |
| EV / EBIT | 5.29 | 4.86 | 5.78 | 2.55 | 3.85 | 5.91 | — | 4.29 | 7.42 | 6.55 | 4.99 | 5.13 | 4.78 |
| — | -17.7% | — | -40.6% | -48.2% | -9.8% | — | -16.5% | +55.4% | +12.9% | +49.4% | +84.8% | +126.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
APA Corporation's operating margin was 32.1% in Q4 2025, up 0.4 pp QoQ and up 1.5 pp YoY. This marks the 4th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 31.0% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 3.2% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.3% | 39.2% | 38.7% | 36.3% | 38.2% | 40.5% | 43.6% | 45.8% | 48.0% | 51.3% | 51.8% | 47.8% | 52.8% |
| — | -3.2% | -11.3% | -20.7% | -20.3% | -21.0% | -15.9% | -4.3% | -9.2% | -4.3% | -2.9% | -18.5% | -12.0% | |
| Operating Margin | 30.8% | 32.1% | 31.8% | 30.8% | 29.3% | 30.6% | 34.6% | 35.2% | 31.4% | 42.0% | 39.8% | 37.0% | 41.4% |
| — | +4.9% | -8.2% | -12.4% | -6.7% | -27.1% | -13.0% | -5.1% | -24.2% | +2.3% | -9.3% | -26.5% | -18.1% | |
| Net Margin | 16.1% | 14.0% | 9.7% | 27.7% | 13.2% | 13.1% | -8.8% | 21.3% | 6.8% | 81.8% | 19.9% | 21.2% | 12.1% |
| — | +7.4% | +210.0% | +30.1% | +94.6% | -84.0% | -144.3% | +0.3% | -43.9% | +356.6% | +36.1% | -30.2% | -82.3% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.6% | 3.0% | 3.0% | 9.0% | 5.4% | 5.7% | -3.5% | 10.7% | 3.6% | 61.2% | 24.1% | 24.4% | 17.4% |
| — | -47.8% | +184.5% | -15.4% | +50.5% | -90.8% | -114.6% | -56.2% | -79.4% | +99.9% | -12.6% | -69.0% | -99.4% | |
| ROA | 7.7% | 1.6% | 1.1% | 3.3% | 1.8% | 1.8% | -1.1% | 3.1% | 0.9% | 12.3% | 3.4% | 2.9% | 1.8% |
| — | -13.8% | +201.7% | +7.0% | +109.3% | -85.2% | -132.9% | +6.9% | -52.4% | +272.2% | +7.8% | -60.5% | -86.9% | |
| ROIC | 14.9% | 3.6% | 4.5% | 4.3% | 4.9% | 5.1% | 5.1% | 6.1% | 5.2% | 8.2% | 9.2% | 6.9% | 9.0% |
| — | -29.6% | -12.0% | -29.2% | -5.9% | -38.1% | -44.6% | -11.8% | -42.2% | -26.3% | -34.2% | -60.3% | -41.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
APA Corporation's Debt/EBITDA ratio is 3.4x, down from 3.6x last quarter — at a moderate level that warrants monitoring. The current ratio has weakened 81.0% YoY to 0.22x, tightening the short-term liquidity position. Debt/Equity has declined for 8 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.36 | 0.36 | 0.67 | 0.68 | 0.85 | 0.97 | 1.05 | 1.05 | 1.45 | 1.44 | 2.70 | 3.35 | 4.15 |
| — | -63.3% | -36.3% | -35.9% | -41.4% | -32.6% | -61.1% | -68.5% | -65.0% | -65.6% | -25.7% | -6.8% | -41.1% | |
| Debt / EBITDA | 0.81 | 3.38 | 3.58 | 3.88 | 3.88 | 3.92 | 4.40 | 4.62 | 5.08 | 3.82 | 4.26 | 5.50 | 5.10 |
| — | -13.8% | -18.5% | -15.9% | -23.7% | +2.4% | +3.2% | -16.0% | -0.5% | -6.8% | +19.0% | +84.6% | +39.6% | |
| Current Ratio | 0.22 | 0.22 | 0.78 | 0.80 | 0.89 | 1.15 | 1.24 | 1.01 | 1.16 | 1.02 | 1.06 | 0.99 | 1.11 |
| — | -81.0% | -37.4% | -20.3% | -24.0% | +12.5% | +16.5% | +2.2% | +4.6% | +10.3% | +1.1% | -9.8% | -9.2% | |
| Quick Ratio | 0.22 | 0.22 | 0.63 | 0.67 | 0.74 | 1.01 | 1.07 | 0.85 | 0.95 | 0.84 | 0.89 | 0.80 | 0.91 |
| — | -78.3% | -40.6% | -21.2% | -21.6% | +20.6% | +19.2% | +5.7% | +3.4% | +6.8% | +1.0% | -13.5% | -6.3% | |
| Interest Coverage | 24.34 | 11.03 | 14.61 | 9.32 | 8.69 | 8.75 | 8.67 | 8.68 | 7.76 | 11.39 | 11.06 | 7.82 | 10.02 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonAPA Corporation's current P/E is 7.6x. The average P/E over the last 4 quarters is 6.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
APA Corporation's current operating margin is 30.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking APA Corporation's business trajectory between earnings reports.