APA Free cash flow
Free cash flow at APA Corporation rose to $1.8B in fiscal 2025, from $769M in 2024.
Not a GAAP measure. Derived here as operating cash flow less capital expenditure, both as filed; the arithmetic is shown in the table.
SOURCE: us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties · EDGAR CompanyFacts · CIK 1841666 · EDGAR ↗ · FY2021–FY2025 · ANNUAL
History AS FILED · DERIVATION SHOWN WHERE DERIVED
| Fiscal year | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|
| FY2025 | $4.5B | −$2.7B | $1.8B |
| FY2024 | $3.6B | −$2.9B | $769M |
| FY2023 | $3.1B | −$2.3B | $816M |
| FY2022 | $4.9B | −$1.8B | $3.2B |
| FY2021 | $3.5B | −$1.1B | $2.4B |
Cross-checks touching this measure FROM THE FILING REVIEW
✓ MATCHESCost reduction
Unit costs fell while volumes rose, not the arithmetic of selling high-cost barrels. Strongest claim in the filing.
FY2025 10-K · FULL RECONCILIATION →✗ CONTRADICTSCapital return
60% is reachable only by counting the $430M paid to the Egypt minority partner (Sinopec's one-third interest) as a shareholder return. It is not one.
FY2025 10-K · FULL RECONCILIATION →✗ CONTRADICTSCash generation
The arithmetic is exact; the quality is not. Real cash, collected once. Strip the Egypt release and cash flow grew 2.1%, in line with volumes.
FY2025 10-K · FULL RECONCILIATION →✗ RED FLAGReceivables & DSO
Thirty days of receivables collected in one year. Real cash, but DSO cannot fall another thirty, so 2026 cash flow starts $850M behind. Management names the collection; it never says the boost cannot repeat.
FY2025 10-K · FULL RECONCILIATION →More SAME DATA, OTHER VIEWS
Free cash flow across coverage → · APA company view →
Revenue · Net income · Operating cash flow · Capital expenditure · Cash & equivalents · Total assets · Shareholders' equity · Total debt · Return on equity · Days sales outstanding
Not investment advice. Every figure on this page is an XBRL fact from the issuer's own SEC filings or an arithmetic over such facts with the method shown. No forecast is made; no posture is expressed.