APA Corp (APA) stock analysis
Close on Nov 13, 2026Market cap $16.97BP/E 7.9Yield 2.06%
StockData Score
Prices as of Nov 13, 2026How the score works
Mixed10 of 30 checks passed
APA passes 10 of the 30 checks behind our score; 12 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 1/6
- Past performance
- 2/6
- Financial health
- 2/6
- Dividend
- 2/6
What stands out
Margin of safety over 20%
The price is 43.5% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $48.44 is below our fair value estimate of $85.73.
Return on capital over 10%
Return on invested capital was 33.4%, above the 10% that usually covers the cost of capital.
Interest well covered
Operating income covers interest expense 16.0 times.
What to watch
High debt
Debt is 45.9% of shareholders' equity, above the 40% we consider low.
EPS growing under 10% a year
Diluted EPS grew -28.7% a year over the last three fiscal years.
Bankruptcy risk in the grey zone
The Altman Z-score is 1.89; above 3 is the safe zone and below 1.8 the distress zone.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 7 fiscal years.
Valuation3/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
APA's P/E of 7.9 is below the Crude Petroleum and Natural Gas median of 10.2.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B above the industry
APA's price-to-book of 2.36 is above the Crude Petroleum and Natural Gas median of 1.38.
Trading below fair value
The share price of $48.44 is below our fair value estimate of $85.73.
Margin of safety over 20%
The price is 43.5% below fair value, more than the 20% cushion we look for.
Growth1/6
Revenue growth over 3 years
Needs three years of positive revenue.
EPS growing under 10% a year
Diluted EPS grew -28.7% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growth against the industry
Needs revenue for this year and last.
Guidance raised
APA raised its full-year 2026 U.S. oil production outlook on Aug 5, 2026.
Gross margin trend
This company does not report gross profit.
Past performance2/6
Return on equity
Needs positive equity and five years of results.
Return on capital over 10%
Return on invested capital was 33.4%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
APA's return on equity of 33.0% is above the Crude Petroleum and Natural Gas median of 5.5%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin against its history
Needs five years of revenue and net income.
Net margin against the industry
Needs revenue and net income.
Financial health2/6
High debt
Debt is 45.9% of shareholders' equity, above the 40% we consider low.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 135% of total debt.
Interest well covered
Operating income covers interest expense 16.0 times.
Short-term assets don't cover short-term debts
Current assets are 0.85 times current liabilities.
Bankruptcy risk in the grey zone
The Altman Z-score is 1.89; above 3 is the safe zone and below 1.8 the distress zone.
Dividend2/6
Pays a dividend
APA paid dividends worth 2.1% of the share price over the last twelve months.
Yield below Treasuries
The 2.1% yield is below the 4.7% on a 1-year Treasury.
Yield below the top quarter
The top quarter of US dividend payers yield 3.8% or more; APA yields 2.1%.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 7 fiscal years.
Covered by earnings
Dividends take 16.2% of net income.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$85.73
The share price is 43% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 10.2× | – | 10.2× | $63.00 | 44% |
| EV/EBITDA | 5.5× | – | 5.5× | $93.56 | 39% |
| Earnings power | 8.4% cost of equity | – | – | $128.06 | 17% |
| Fair value | $85.73 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Crude Petroleum and Natural Gas median 10.2
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $262.21M
- Value traded per 1% price move
- $130.22M
Downside
Low risk
- Typical loss in a bad month
- 14.3%
- Volatility (annualized)
- 45%
- Sharpe ratio, 1 year
- 2.19
- Beta to the S&P 500 (5Y)
- 0.66
Typical bad-month loss, week by week
Margins need revenue and profit figures
This company does not report the lines needed to calculate margins.
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Operating income | +26.3% | -17.8% | – | – | |
| Net income | +78.4% | – | – | – | |
| EPS, diluted | +75.8% | -28.7% | – | – | |
| Dividend per share | 0.0% | +10.1% | +58.5% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 25.2% | |
| Return on assets | – | – | 7.7% | |
| Current ratio | – | 1.41 | 0.82 | |
| Debt to equity | – | -5.35 | 0.74 | |
| Net debt to EBITDA | – | -3.65× | 0.74× | |
| Interest coverage | – | -9.4× | 9.6× | |
| Diluted shares | – | 378M | 359M |
Cash use needs five years of cash flow figures
APA does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$1.43B
- Cash generatingOperating cash flow above zero$4.55B
- Return on assets improvedROA up on the prior year5.3% → 7.4%
- Earnings backed by cashOperating cash flow above net income$4.55B vs $1.43B
- Less leverageLong-term debt to assets fell30.9% → 24.1%
- Better liquidityCurrent ratio rose1.15 → 0.82
- No dilutionShare count did not rise353M → 359M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose– → –
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