APA Corporation (APA)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,535,000 | 1,575,000 | 2,748,000 | 2,520,000 | 2,883,000 | 3,145,000 | 3,484,000 | 4,246,000 | 5,734,000 | 5,586,000 | 4,536,000 | 3,569,000 | 1,891,000 | 1,307,000 | 1,257,000 | 346,000 | -4,840,000 | -7,945,000 | -8,003,000 | -7,739,000 |
| Revenue (ttm) | US$ in thousands | 9,737,000 | 9,192,000 | 8,969,000 | 8,222,000 | 8,279,000 | 8,584,000 | 9,163,000 | 10,414,000 | 11,075,000 | 10,902,000 | 10,074,000 | 8,783,000 | 7,985,000 | 6,905,000 | 5,966,000 | 4,962,000 | 4,435,000 | 4,841,000 | 5,159,000 | 6,005,000 |
| Pretax margin | 15.76% | 17.13% | 30.64% | 30.65% | 34.82% | 36.64% | 38.02% | 40.77% | 51.77% | 51.24% | 45.03% | 40.64% | 23.68% | 18.93% | 21.07% | 6.97% | -109.13% | -164.12% | -155.13% | -128.88% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,535,000K ÷ $9,737,000K
= 15.76%
APA Corporation's pre-tax margin has shown significant volatility over the years, starting with negative figures in 2020 and gradually improving to positive values in subsequent quarters. The company's pre-tax margin stood at -128.88% in March 2020, reflecting significant losses. This negative trend continued through June and September 2020, with margins of -155.13% and -164.12%, respectively.
However, APA Corporation began to show signs of improvement by December 2020, with the pre-tax margin narrowing to -109.13%. The positive momentum continued into 2021, as the company achieved pre-tax margins of 6.97% in March, 21.07% in June, and 18.93% in September. By December 2021, APA Corporation's pre-tax margin improved further to 23.68%.
The positive trend continued in 2022, with the pre-tax margin reaching 40.64% in March, 45.03% in June, and 51.24% in September. By the end of 2022, the pre-tax margin stood at 51.77%, indicating strong profitability for the company.
In 2023, APA Corporation experienced a slight decrease in pre-tax margin, dropping to 40.77% in March and further to 38.02% in June. However, the margins remained above 30%, indicating continued profitability.
By December 2023, the pre-tax margin decreased to 34.82%, showing a slight downward trend. In the first half of 2024, the pre-tax margin remained relatively stable around 30%, before declining to 17.13% in September and 15.76% in December.
Overall, APA Corporation's pre-tax margin has shown varying levels of profitability over the years, with periods of significant improvements followed by slight declines. It is essential for the company to continue managing its costs effectively and driving revenue growth to maintain and enhance its profitability in the future.
Peer comparison
Dec 31, 2024