APA APA Corp

Overview and Growth

In fiscal 2025, APA Corp reported net income of $1.43B. Diluted earnings per share were $3.99, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS increased by 75.8% from $2.27 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The diluted weighted-average share count was 359.00M, linking total earnings with the per-share result received by shareholders. The diluted share count was 1.7% higher than fiscal 2024, when diluted shares averaged 353.00M, adding context to the EPS comparison. At period end, total assets were $17.76B, framing the scale of the company’s operating and financing commitments.

Profitability

Operations produced $3.09B of income after the reported operating expense base, before the remaining non-operating and tax effects. Net income came to $1.43B, completing the progression from revenue through gross and operating profitability to the final reported result. Reported EBITDA totaled $5.39B, adding a pre-interest, tax, depreciation, and amortization perspective to the profitability profile. The earnings statement records $2.79B of pretax income, the profit base against which the reported tax provision can be assessed. The reported income-tax provision was $1.10B, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 39.4%, without assuming a statutory-rate comparison. Return on period-end equity was 20.5%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 8.1%, showing earnings relative to the full balance sheet. The company moved from fiscal 2024 net income of $804.00M to $1.43B, with the current outcome ending above that comparison.

Liquidity and Capital Structure

At period end, the $17.76B asset base was financed through $10.76B of liabilities and $7.00B of equity. Current assets were $2.12B against $2.57B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.82x of current liabilities, so current liabilities exceeded current assets at period end. Reported cash and equivalents were $516.00M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 20.1%, excluding receivables and other current assets. The equity-to-assets relationship was 39.4%, placing book capital against the total resource base. Relative to total assets, liabilities measured 60.6%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 2.9%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 8.4% lower than fiscal 2024 assets of $19.39B, measuring the company’s own balance-sheet change. Reported equity changed 10.1% from $6.36B in fiscal 2024, placing the current capital base higher year over year. The reported cash balance changed 17.4% from $625.00M in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $4.54B, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 3.17x, showing the relationship between accrual earnings and operating cash. Compared with $3.62B in fiscal 2024, current operating cash flow of $4.54B was above the prior result.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.