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Arphra AIPlain-English read on APA Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $7.99B | $11.08B | $8.28B | $9.74B | $8.92B | $9.42B | $8.26B | $8.38B | $9.7B |
| Cost of revenue | $4.45B | $4.82B | $4.05B | $5.44B | $5.59B | $5.26B | $4.71B | $4.69B | $5.48B |
| Gross profit | $3.54B | $6.26B | $4.23B | $4.3B | $3.33B | $4.22B | $3.61B | $3.76B | $4.16B |
| Gross margin | +44.33% | +56.48% | +51.06% | +44.18% | +37.32% | +44.82% | +43.65% | +44.82% | +42.90% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $376M | $483M | $351M | $372M | $350M | $370.01M | $331.35M | $337.25M | $380.66M |
| Total operating expenses | $848M | $1.17B | $869M | $1.1B | $579M | $888.92M | $791.74M | $791.41M | $942.32M |
| Operating income | $2.69B | $5.08B | $3.36B | $3.2B | $2.75B | $3.32B | $2.89B | $3B | $3.28B |
| Operating margin | +33.71% | +45.89% | +40.56% | +32.85% | +30.83% | +35.24% | +34.97% | +35.78% | +33.77% |
| EBITDA | $3.66B | $7.61B | $4.75B | $4.17B | $5.44B | $5.04B | $4.51B | $4.46B | $5.34B |
| EBIT | $2.3B | $6.06B | $3.21B | $1.91B | $2.9B | $2.78B | $2.57B | $2.54B | $2.92B |
| Below the line | |||||||||
| Interest expense | $418M | $322M | $331M | $379M | $113M | $281.05M | $251.66M | $253.26M | $291.95M |
| Interest income | $8M | $10M | $10M | $12M | $0 | $7.67M | $6.77M | $6.9M | $7.74M |
| Other income / expense | -$801M | $652M | -$475M | -$1.66B | $41M | — | — | — | — |
| Pre-tax income | $1.89B | $5.73B | $2.88B | $1.54B | $2.79B | $2.53B | $2.2B | $2.31B | $2.65B |
| Income tax expense | $578M | $1.65B | -$324M | $417M | $1.1B | $869.44M | $743.92M | $750.08M | $891.91M |
| Earnings | |||||||||
| Net income | $1.14B | $3.67B | $2.86B | $804M | $1.43B | $1.81B | $1.61B | $1.67B | $1.91B |
| Net income · continuing ops | $1.31B | $4.08B | $3.21B | $1.12B | $1.69B | $2.18B | $1.93B | $1.99B | $2.26B |
| Net margin | +14.21% | +33.17% | +34.48% | +8.26% | +16.08% | +19.26% | +19.47% | +19.91% | +19.66% |
| EPS · basic | $2.60 | $11.07 | $9.27 | $2.28 | $3.99 | $6.43 | $4.24 | $4.68 | $10.22 |
| EPS · diluted | $2.59 | $11.02 | $9.25 | $2.28 | $3.99 | $6.34 | $4.22 | $4.66 | $10.17 |
| EPS · low estimate | — | — | — | — | — | $2.72 | $2.50 | $2.14 | $8.73 |
| EPS · high estimate | — | — | — | — | — | $8.35 | $5.91 | $8.94 | $11.62 |
| Shares · basic | 374M | 332M | 308M | 353M | 359M | 358.77M | 362.48M | 356.8M | 355.7M |
| Shares · diluted | 375M | 333M | 309M | 353M | 359M | 355.58M | 357.7M | 361.58M | 358.89M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 9 | 9 | 8 | 7 |
| Analysts (EPS) | — | — | — | — | — | 15 | 16 | 9 | 3 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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