公司概述
APA Corporation operates as an independent energy entity focused on the exploration, development, and production of natural gas, crude oil, and natural gas liquids across a diversified portfolio of assets. The company functions within the broader energy sector, specifically categorized under the oil and gas exploration and production industry, which involves extracting hydrocarbons from the earth to supply global markets. On a global scale, the company maintains operational footprints in the United States, Egypt, the North Sea, and holds exploration and appraisal activities in Suriname. With a market capitalization of $13.77 billion and annual revenue reaching $8.68 billion, APA employs a workforce of 1,791 individuals. These valuation and revenue figures indicate that the company represents a mid-to-large-cap player in the energy landscape, possessing significant asset bases and operational capacity to generate substantial cash flows, though the specific market cap relative to peers suggests a valuation influenced by current commodity pricing environments and operational efficiency.
财务健康
The company reported a revenue of $8.68 billion over the trailing twelve months, generating net income of $1.43 billion and EBITDA of $5.15 billion. The substantial gap between the $8.68 billion in revenue and the $1.43 billion in net income reveals a robust cost structure where operating expenses and taxes consume approximately 83.5% of top-line revenue, while the EBITDA of $5.15 billion demonstrates strong operational profitability before interest, taxes, depreciation, and amortization. Free cash flow stands at $1.96 billion, which signifies considerable financial flexibility allowing the company to fund capital expenditures, service debt obligations, and return capital to shareholders without requiring external financing. Profitability metrics further highlight operational efficiency, with a gross margin of 68.0%, an operating margin of 30.6%, and a profit margin of 16.5%, indicating that the company retains a significant portion of revenue after accounting for the cost of goods sold and operating expenses. Regarding liquidity and leverage, the company holds $516.00 million in cash against total debt of $4.81 billion, resulting in a debt-to-equity ratio of 68.69%, which characterizes a leveraged balance sheet typical of capital-intensive upstream energy operations. The current ratio of 0.82 indicates that current assets are less than current liabilities, suggesting a reliance on cash flow generation rather than liquid asset buffers to meet short-term obligations. Management effectiveness is underscored by a return on equity of 25.3% and a return on assets of 9.0%, metrics that reveal the company generates high returns on the shareholders' invested capital relative to its total asset base.
估值评估
Valuation multiples provide insight into market expectations, with a trailing twelve-month P/E ratio of 9.77 and a forward P/E of 10.33. The difference between the trailing and forward P/E ratios implies that the market expects earnings growth to be relatively modest in the near future, as the forward multiple is only slightly higher than the trailing multiple. The price-to-book ratio is 2.26, indicating that the market values the company at a premium of over two times its net asset book value, reflecting the intangible value of its reserves and brand. Alternative valuation metrics such as a price-to-sales ratio of 1.59 and an EV/EBITDA of 3.69 suggest the company is valued conservatively relative to its sales and earnings power compared to historical averages for the sector. Price action over the last year shows a 52-week high of $45.66 and a 52-week low of $13.58, and while the current trading price is not explicitly provided in the data, the range defines the volatility envelope within which the stock has traded. The beta value of 0.48 indicates that the stock price exhibits significantly lower volatility relative to the broader market, moving less than half as much as the market index on average.
Growth & Income
Growth dynamics are currently characterized by contraction, with revenue growth year-over-year at -28.0% and earnings growth year-over-year at -18.2%. Earnings are declining at a slower rate than revenue, which implies that the company's cost structure is adjusting favorably or that non-operating income is partially offsetting the decline in core operational revenues. As a dividend payer, the company offers a dividend yield of 2.6% with a payout ratio of 25.1%, a low payout ratio that suggests the dividend is highly sustainable even during periods of declining earnings. The low payout ratio indicates that the company retains the majority of its earnings for reinvestment or debt reduction rather than distributing them, providing a buffer against the current revenue contraction. Overall, the growth and income profile reflects a mature asset play that prioritizes shareholder returns through dividends despite facing temporary headwinds in production volumes or commodity pricing that have impacted year-over-year growth rates.