APA Corporation (APA) Income Statement
APA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAPA revenue and net income
Where APA's revenue goes
2025Each bar shows an amount and its share of revenue. APA kept 16.1% of revenue as net income.
APA profit margins
APA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −8.4% | −7.0% | +15.0% | +3.4% |
| Gross profit | −22.6% | −19.0% | +29.8% | — |
| Operating income | −14.0% | −18.5% | +73.9% | — |
| Net income | +78.4% | −26.9% | — | — |
| EPS (diluted) | +0.8% | −21.3% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
APA quarterly EPS vs estimates
APA beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 4, 2026 (estimate $1.27).
APA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.92B | $9.74B | $8.28B | $11.07B | $7.99B | $4.43B | $6.49B | $7.35B | $5.89B | $5.37B |
| Cost of revenue | $5.59B | $5.43B | $4.05B | $4.82B | $4.45B | $3.53B | $4.58B | $4.19B | $3.86B | $4.31B |
| Gross profit | $3.33B | $4.30B | $4.23B | $6.25B | $3.54B | $905.0M | $1.92B | $3.16B | $2.03B | $1.05B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $350.0M | $372.0M | $524.0M | $483.0M | $376.0M | $290.0M | $406.0M | $431.0M | $395.0M | $410.0M |
| Total operating expenses | $579.0M | $1.10B | $869.0M | $1.17B | $848.0M | $732.0M | $1.47B | $1.19B | $1.18B | $1.20B |
| Operating income | $2.75B | $3.20B | $3.36B | $5.08B | $2.69B | $173.0M | $445.0M | $1.97B | $847.0M | −$144.0M |
| Interest income | $25.0M | $12.0M | $10.0M | $10.0M | $8.0M | $7.0M | $13.0M | $22.0M | $19.0M | $8.0M |
| Interest expense | $278.0M | $379.0M | $331.0M | $322.0M | $418.0M | $434.0M | $400.0M | $478.0M | $397.0M | $417.0M |
| Income before taxes | $2.79B | $1.53B | $2.88B | $5.73B | $1.89B | −$4.84B | −$3.01B | $958.0M | $918.0M | −$1.68B |
| Income taxes | $1.10B | $417.0M | −$324.0M | $1.65B | $578.0M | $64.0M | $674.0M | $672.0M | −$585.0M | −$442.0M |
| Net income | $1.43B | $804.0M | $2.85B | $3.67B | $1.14B | −$4.78B | −$3.52B | $40.0M | $1.30B | −$1.41B |
| EBITDA | $5.43B | $4.17B | $4.75B | $7.29B | $3.66B | −$2.32B | $848.0M | $2.11B | $991.0M | $14.0M |
| EPS (diluted) | $3.77 | $3.74 | $4.52 | $7.74 | $3.88 | −$1.08 | −$9.32 | $1.76 | $0.24 | −$0.75 |
| Gross margin | 37.3% | 44.2% | 51.1% | 56.5% | 44.3% | 20.4% | 29.5% | 43.0% | 34.4% | 19.7% |
| Operating margin | 30.8% | 32.9% | 40.6% | 45.9% | 33.7% | 3.9% | 6.9% | 26.8% | 14.4% | −2.7% |
| Net margin | 16.1% | 8.3% | 34.5% | 33.2% | 14.2% | −107.9% | −54.2% | 0.5% | 22.2% | −26.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.40B | $2.33B | $1.99B | $2.12B | $2.18B | $2.64B | $2.71B | $2.53B | $2.54B | $1.95B | $2.17B | $2.31B |
| Cost of revenue | $2.37B | $528.0M | $1.21B | $1.30B | $1.39B | $1.63B | $1.61B | $1.43B | $1.38B | $1.01B | $1.06B | $1.11B |
| Gross profit | $26.0M | $1.80B | $781.0M | $818.0M | $791.0M | $1.01B | $1.10B | $1.10B | $1.16B | $936.0M | $1.11B | $1.20B |
| Sales, general & admin | $68.0M | $115.0M | $91.0M | $95.0M | $66.0M | $98.0M | $102.0M | $92.0M | $156.0M | $241.0M | $75.0M | $139.0M |
| Total operating expenses | $1.12B | $969.0M | $141.0M | $146.0M | $120.0M | $235.0M | $268.0M | $227.0M | $270.0M | $323.0M | $200.0M | $278.0M |
| Operating income | −$1.10B | $830.0M | $640.0M | $672.0M | $671.0M | $773.0M | $831.0M | $876.0M | $894.0M | $613.0M | $911.0M | $918.0M |
| Interest income | $0 | $0 | $4.0M | $14.0M | $3.0M | $61.0M | $4.0M | $2.0M | $3.0M | $3.0M | $3.0M | $2.0M |
| Interest expense | $69.0M | $70.0M | $61.0M | $60.0M | $72.0M | $89.0M | $95.0M | $101.0M | $103.0M | $79.0M | $80.0M | $83.0M |
| Income before taxes | $1.28B | $830.0M | $489.0M | $511.0M | $1.03B | $763.0M | $500.0M | −$340.0M | $928.0M | $447.0M | $540.0M | $833.0M |
| Income taxes | $450.0M | $287.0M | $158.0M | $233.0M | $363.0M | $345.0M | $75.0M | −$201.0M | $308.0M | $235.0M | −$1.32B | $278.0M |
| Net income | $747.0M | $446.0M | $279.0M | $205.0M | $603.0M | $347.0M | $354.0M | −$223.0M | $541.0M | $132.0M | $1.77B | $459.0M |
| EBITDA | $1.80B | $1.66B | $1.18B | $1.17B | $1.63B | $1.49B | $1.25B | $356.0M | $1.62B | $955.0M | $1.10B | $1.39B |
| EPS (diluted) | $1.89 | $1.38 | $0.91 | $0.93 | $0.87 | $1.06 | $0.79 | $1.00 | $1.17 | $0.78 | $1.15 | $1.33 |
| Gross margin | 1.1% | 77.3% | 39.2% | 38.7% | 36.3% | 38.2% | 40.5% | 43.6% | 45.8% | 48.0% | 51.3% | 51.8% |
| Operating margin | −45.7% | 35.7% | 32.1% | 31.8% | 30.8% | 29.3% | 30.6% | 34.6% | 35.2% | 31.4% | 42.0% | 39.8% |
| Net margin | 31.1% | 19.2% | 14.0% | 9.7% | 27.7% | 13.2% | 13.1% | −8.8% | 21.3% | 6.8% | 81.8% | 19.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in APA's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
APA financial results
In fiscal year 2025 (ended December 31, 2025), APA reported revenue of $8.9 billion, down 8.4% from the year before. It had net income of $1.4 billion (up 78.4%), a net profit margin of 16.1%. Diluted earnings per share came to $3.77. Over five years revenue grew at an average rate of 15.0% a year.
See the APA stock overview for the latest quote and news, or the APA chart for price history and technical indicators.
APA income statement FAQ
What is APA's annual revenue?
APA reported total revenue of $8.9 billion for fiscal year 2025, which ended on December 31, 2025. That was down 8.4% from $9.7 billion the previous year.
Is APA profitable?
Yes. APA reported net income of $1.4 billion in fiscal 2025, a net profit margin of 16.1%; its operating margin was 30.8%.
What is APA's gross margin?
APA's gross margin was 37.3% in fiscal 2025: for every $100 of revenue, APA kept $37 after the direct cost of its products and services.
How fast is APA growing?
Revenue grew 15.0% a year on average over the last five fiscal years, from $4.4 billion to $8.9 billion.
What are APA's earnings per share?
APA earned $3.77 per diluted share in fiscal 2025, compared with $3.74 a year earlier.
When will APA report its next earnings?
APA is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does APA's fiscal year end?
APA's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.