Loading…
US oil and gas producer (Permian Basin, Egypt) with a major new offshore discovery in Suriname.
US oil and gas producer (Permian Basin, Egypt) with a major new offshore discovery in Suriname.
Sells crude oil and natural gas, so income follows oil prices and volumes. In Egypt it works under production-sharing contracts, where the government takes a share of output and the company recovers its costs from the rest, with gas sold into the domestic market. Buying Callon Petroleum in 2024 enlarged its Permian business.
Moat: narrow (scale, process know-how). Diversified onshore-offshore portfolio and early-mover Suriname discovery add optionality peers lack.
Headquarters: Houston, Texas, US · Founded: 1954 · Employees: 1,791
Size APA (APA) is a United States Energy company (Integrated Oil) with a market value of $15.6B, the 580th largest of 3,117 United States companies the cockpit tracks. Shares closed at $44.63 on 6 Nov 2026.
Performance Over six months the shares gained 25.5%, against -1.2% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 12.4% over the last twelve months (peer median +13.4%); the operating margin is 41.3% (peer median 28.9%).
Valuation It trades at 7.5× forward earnings against a peer median of 7.6× (11th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -20% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -35 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.1 points above its cost of capital (6.2% WACC).
Credit APA has 7 bonds outstanding ($2.33B), rated BBB- by the agencies and trading like BBB at a weighted spread of 117 bp.
Short interest Short interest is 6.7% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $8.81B | $8.92B | $9.74B | $8.28B | $11.1B |
| Revenue growth | — | -8% | +18% | -25% | — |
| Gross profit | $4.23B | $3.33B | $3.84B | $3.92B | $5.83B |
| EBITDA | $6.07B | $5.28B | $5.85B | $5.13B | $6.64B |
| Net income | $1.68B | $1.43B | $804M | $2.85B | $3.67B |
| Free cash flow | $2.10B | $1.78B | $709M | $796M | $3.14B |
| Capital expenditure | $2.43B | $2.77B | $2.91B | $2.33B | $1.81B |
| Total debt | $3.88B | $4.81B | $6.42B | $5.47B | $5.75B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| APA APA | $15.6B | +26% | -12% | 41% | 7.5× | -20.0% |
| Devon Energy DVN | $46.4B | -7% | +18% | 24% | 7.6× | 0.9% |
| EOG Resources EOG | $77.2B | +13% | +17% | 35% | 8.3× | -13.5% |
| Ovintiv OVV | $16.3B | +5% | +14% | 29% | 7.1× | -10.9% |
| TotalEnergies TTE.PA | $200B | +2% | +11% | 17% | 7.0× | -15.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | APA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.9% | -5.4% | 6th highest of 21 |
| 6-month return | +25.5% | -1.2% | 2nd highest of 21 |
| Distance from 52-week high | -15.7% | -21.2% | 5th highest of 21 |
| Revenue growth (TTM) | -12.4% | +13.4% | 2nd lowest of 21 |
| Operating margin | 41.3% | 28.9% | 5th highest of 21 |
| Forward P/E | 7.5× | 7.6× | 11th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -20.0% | -11.1% | 2nd least demanding of 19 |
| Growth delivered (Del g) | +15.0% | +18.4% | 8th lowest of 19 |
| Hurdle (Req g minus delivered) | -35.0 pp | -27.8 pp | 8th least demanding of 19 |
| ROIC minus cost of capital | +18.1 pp | +4.9 pp | 3rd highest of 21 |
| EV / EBITDA | 3.3× | 4.0× | 7th cheapest of 19 |
| Net debt / EBITDA | 0.6× | 0.8× | 5th least indebted of 19 |
| Bond spread | 117 bp | 103 bp | 3rd widest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| APA APA | United States | $15.6B | +26% | -12% | 41% | 7.5× | -20.0% | +15.0% |
| Ovintiv OVV | United States | $16.3B | +5% | +14% | 29% | 7.1× | -10.9% | +9.4% |
| Whitecap Resources WCP.TO | Canada | $14.4B | +6% | +73% | 38% | 8.8× | -7.1% | +44.8% |
| YPF SA Sponsored ADR YPF | United States | $17.8B | -9% | -14% | 22% | 4.9× | n/a | n/a |
| Permian Resources PR | United States | $18.2B | +10% | +13% | 36% | 8.1× | -2.0% | +54.2% |
| Var Energi VAR.OL | Norway | $13.3B | +7% | +48% | 55% | 6.9× | -19.6% | +26.6% |
| Expand Energy EXE | United States | $19.5B | -11% | +20% | 20% | 10.8× | -7.6% | +20.3% |
| Aker BP AKRBP.OL | Norway | $21.6B | -8% | +4% | 70% | 7.8× | -15.4% | +32.7% |
| Indian Oil IOC.NS | India | $21.9B | 0% | +23% | 7% | 20.8× | -2.3% | +16.4% |
| Inpex 1605.T | Japan | $25.9B | -16% | -8% | 49% | 7.4× | -14.4% | +21.1% |
| Oil & Natural Gas ONGC.NS | India | $30.8B | -18% | +7% | 9% | 5.6× | -12.6% | +14.9% |
| EQT EQT | United States | $30.9B | -12% | +18% | 42% | 16.0× | -1.9% | +25.7% |
| Oil India OIL.NS | India | $7.60B | -2% | +20% | 29% | 7.7× | -1.1% | +13.7% |
| Ecopetrol SA Sponsored ADR EC | United States | $32.6B | +23% | +6% | 22% | 6.5× | -6.7% | +15.9% |
| Chord Energy CHRD | United States | $7.47B | 0% | +19% | 19% | 6.3× | -13.4% | +38.6% |
| SM Energy SM | United States | $7.12B | +2% | +100% | 38% | 3.5× | -13.6% | +22.9% |
| National Fuel Gas NFG | United States | $6.98B | -8% | +13% | 37% | 10.2× | -6.2% | +9.1% |
| Repsol REP.MC | Spain | $36.2B | +34% | +24% | 13% | 4.7× | -20.1% | +10.5% |
| Guanghui Energy 600256.SS | China | $6.47B | 0% | -5% | 18% | 10.1× | -11.4% | +14.9% |
| CNOOC Energy Technology & Services 600968.SS | China | $6.25B | -7% | -1% | 9% | 9.7× | -14.2% | +8.7% |
| Matador Resources MTDR | United States | $6.24B | -9% | +13% | 39% | 5.0× | n/a | n/a |
APA has 7 bonds outstanding with $2.33B face value. The agencies rate it BBB-; its bonds trade like BBB. Weighted yield 6.20%, a spread of 117 bp over government bonds.