Question 1

What is APA's P/S ratio?

Accepted Answer

APA (APA) P/S ratio is 1.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for APA?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For APA specifically, the relevant sector benchmark is the current sector median of 2.2×.

Question 5

Is APA's P/S ratio high or low?

Accepted Answer

APA's P/S ratio of 1.5× is above its own 5-year average of 1.2× and below the sector median of 2.2×. That places the current reading at the 82th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is APA's historical P/S ratio range?

Accepted Answer

In the available daily series, APA (APA) P/S ratio has ranged from a low of 0.3× in 2020 to a high of 4.7× in 2016. The 5-year average is 1.2× and the 5-year median is 1.2×.

Question 7

What was APA's P/S ratio in 2025?

Accepted Answer

APA (APA) P/S ratio at the end of 2025 was 1.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does APA's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$8.68B	$8.92B	1.0×	+0.1×	Dec 31, 2025
2024	$8.52B	$9.74B	0.9×	-0.5×	Dec 31, 2024
2023	$11B	$8.28B	1.3×	-0.0×	Dec 31, 2023
2022	$15B	$11.1B	1.4×	+0.1×	Dec 31, 2022
2021	$9.71B	$7.99B	1.2×	+0.0×	Dec 31, 2021
2020	$5.36B	$4.44B	1.2×	-0.3×	Dec 31, 2020
2019	$9.65B	$6.32B	1.5×	+0.2×	Dec 31, 2019
2018	$9.95B	$7.34B	1.4×	-1.4×	Dec 31, 2018
2017	$16.1B	$5.89B	2.7×	-1.8×	Dec 31, 2017
2016	$24.1B	$5.37B	4.5×	+1.9×	Dec 31, 2016
2015	$16.8B	$6.55B	2.6×	+0.8×	Dec 31, 2015
2014	$23.6B	$13.2B	1.8×	-0.4×	Dec 31, 2014
2013	$34.3B	$16B	2.1×	+0.3×	Dec 31, 2013
2012	$30.7B	$16.9B	1.8×	-0.3×	Dec 31, 2012
2011	$34.8B	$16.8B	2.1×	-1.7×	Dec 31, 2011
2010	$45.7B	$12.1B	3.8×	-0.3×	Dec 31, 2010
2009	$34.8B	$8.61B	4.0×	+2.0×	Dec 31, 2009
2008	$25B	$12.3B	2.0×	-1.6×	Dec 31, 2008
2007	$35.8B	$9.98B	3.6×	+0.9×	Dec 31, 2007
2006	$22.1B	$8.31B	2.7×	-0.3×	Dec 31, 2006
2005	$22.6B	$7.58B	3.0×	-0.1×	Dec 31, 2005
2004	$16.6B	$5.33B	3.1×	-0.0×	Dec 31, 2004
2003	$13.2B	$4.19B	3.1×	-0.3×	Dec 31, 2003
2002	$8.64B	$2.54B	3.4×	—	Dec 31, 2002


New Era Energy & Digital (NUAI)	84.8×
Texas Pacific Land (TPL)	39.0×
Williams Companies (WMB)	7.5×
Diamondback Energy (FANG)	3.7×
National Fuel Gas (NFG)	3.6×
Enphase Energy (ENPH)	3.5×
Targa Resources (TRGP)	3.3×
EOG Resources (EOG)	3.3×
ConocoPhillips (COP)	2.8×
Occidental Petroleum (OXY)	2.7×
Chevron (CVX)	2.2×
Baker Hughes (BKR)	2.2×
SLB (SLB)	2.1×
Enbridge (ENB)	2.1×
Devon Energy (DVN)	1.9×
Expand Energy (EXE)	1.9×
ONEOK (OKE)	1.6×
NACCO Industries (NC)	1.4×
Halliburton (HAL)	1.3×
Energy Transfer LP (ET)	0.7×
Valero Energy (VLO)	0.6×
Phillips 66 (PSX)	0.5×
Marathon Petroleum (MPC)	0.5×

P/S Ratio for APA (APA) 2002-2026

P/S Ratio daily chart for APA (APA)

Historical P/S Ratio for APA (APA) from 2002 to 2025

About P/S Ratio at APA (APA)

APA P/S Ratio by Year

APA P/S Ratio 2025: 1.0×

APA P/S Ratio 2024: 0.9×

APA P/S Ratio 2023: 1.3×

APA P/S Ratio 2022: 1.4×

APA P/S Ratio 2021: 1.2×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

APA (APA) Key Financials