APA (APA) EBIT

: $3,210 Mil (TTM As of Dec. 2023)

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APA's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $619 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $3,210 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. APA's annualized ROC % for the quarter that ended in Dec. 2023 was 99.86%. APA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 25.00%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. APA's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 18.30%.

APA EBIT Historical Data

The historical data trend for APA's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

APA Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

-2,615.00

-4,414.00

2,301.00

6,048.00

3,210.00

APA Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT																880.00	892.00	784.00	915.00	619.00

Competitive Comparison

For the Oil & Gas E&P subindustry, APA's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

APA EV-to-EBIT Distribution

For the Oil & Gas industry and Energy sector, APA's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where APA's EV-to-EBIT falls into.

APA EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $3,210 Mil.

APA (NAS:APA) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

APA's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	3716 * ( 1 - -245.19% )	/	( (11926	+	13764)	/ 2 )
=	12827.2604	/	12845
=	99.86 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	13545	-	1524	-	( 95	-	max(0, 2635	-	2800	+	95	))
=	11926

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	15244	-	1422	-	( 87	-	max(0, 2404	-	2462	+	87	))
=	13764

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

APA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	2476	/	( ( (9500 + max(180, 0))	+	(10038 + max(89, 0)) )	/	2 )
=	2476	/	( ( 9680	+	10127 )	/	2 )
=	2476	/	9903.5
=	25.00 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1753	+	443	+	509)	-	(1524	+	0	+	1001)
=	180

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1610	+	453	+	312)	-	(1422	+	0	+	864)
=	89

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

APA's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	3210	/	17537.712
	=	18.30 %

APA EBIT Related Terms

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APA (APA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » APA Corp (NAS:APA) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

AP A:Mexico APA:Germany 2S3:Germany A1PA34:Brazil

Address

2000 Post Oak Boulevard, Suite 100, One Post Oak Central, Houston, TX, USA, 77056-4400

Website

https://www.apacorp.com

Based in Houston, APA is an independent exploration and production company. It operates primarily in the U.S., Egypt, the North Sea, and Suriname. At year-end 2022, proved reserves totaled 890 million barrels of oil equivalent, with net reported production of 400 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).

Executives

Tracey K Henderson	officer: Executive VP Exploration	C/O APA CORPORATION, 2000 POST OAK BLVD STE 100, HOUSTON TX 77056
Mark D Maddox	officer: Executive VP - Administration	C/O APA CORPORATION, 2000 POST OAK BLVD STE 100, HOUSTON TX 77056
P Anthony Lannie	officer: Exec. Vice Pres & Gen Counsel	C/O APACHE CORPORATION, 2000 POST OAK BLVD., SUITE 100, HOUSTON TX 77056
Chansoo Joung	director	C/O WARBURG PINCUS LLC, 450 LEXINGTON AVENUE, NEW YORK NY 10017
David L Stover	director	NOBLE ENERGY, INC., 1001 NOBLE ENERGY WAY, HOUSTON TX 77070
Charles W Hooper	director	C/O APA CORPORATION, 2000 POST OAK BLVD STE 100, HOUSTON TX 77056
D. Clay Bretches	officer: Exec. VP, Operations	C/O APACHE CORPORATION, 2000 POST OAK BLVD, STE 100, HOUSTON TX 77056
Rebecca A Hoyt	officer: Sr. VP, Chief Acct Officer	C/O APACHE CORPORATION, 2000 POST OAK BLVD., SUITE 100, HOUSTON TX 77056-4400
Annell R Bay	director	C/O MARATHON OIL CORPORATION, 5555 SAN FELIPE ST, HOUSTON TX 77056
Lamar Mckay	director	2000 POST OAK BLVD STE 100, HOUSTON TX 77056
John E Lowe	director	600 N DAIRY ASHFORD, HOUSTON TX 77079
Amy H Nelson	director	2000 POST OAK BLVD., SUITE 100, HOUSTON TX 77056
Rene R Joyce	director	P.O. BOX 130430, HOUSTON TX 77219-0430
Daniel Wayne Rabun	director	6 CHESTERFIELD GARDENS, 3RD FLOOR, LONDON X0 W1J 5BQ
Peter A Ragauss	director	2929 ALLEN PARKWAY, SUITE 2100, HOUSTON TX 77019