Obermatt

Flags

Financial distress

APA

ASX:APA · AU000000APA1
Gas UtilitiesLarge

360

40
EV / EBIT19
Price / Owner Earnings9
Owner Earnings Yield56
Dividend Yield91
Price/Sales9
EV / Gross Profit46
Price/Book1
Return on Capital37
Cash Return on Capital58
Return on Equity27
EBIT Margin83
Gross Profitability83
Cash Conversion96
Accruals89
Owner Earnings Margin90
Sales growth44
Profit Growth24
Long-Term EPS Growth89
Owner Earnings Growth100
Reinvestment38
Price momentum77
Debt load1
Refinancing45
Debt Payback4
Liquidity11
Analyst ratings11
Opinion Changes88
Price Target Upside1
Market mood42
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

APA clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryAustralia
IndustryGas Utilities
SizeLarge
TypePublic Company
ExchangeASX
Employees2,349
Websiteapa.com.au
ISINAU000000APA1
Last UpdateApr 2, 2026
Themes
Energy StorageClean EnergyCleanTechUtility Scale SolarPower GridOnshore and Offshore WindBattery Energy Storage System (BESS)EnergyInfrastructureService Industry

Description

APA Group engages in the energy infrastructure business in Australia. Business Segments The company operates through several key business segments include Energy Storage, Gas Transportation, Electricity Generation, and Water Infrastructure. Energy…

Analysis

Quality compounder

APA Group earns the quality_compounder label: good underlying economics priced fairly, with no obvious bargain or excess.

On valuation, the picture is expensive. The owner-earnings multiple stands at 45.6×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 17% a year, against analyst forecasts of 26%. The price, in other words, assumes less than the experts do.

Growth is solid; the safety picture is fragile. The company scores 12/20 on our value-creation score: creating some value. Analyst sentiment is cautious.

No flags apply to this company at this time: accounts, balance sheet, and cash quality all pass. A clean bill of health is meaningful, not just the absence of a warning. This analysis describes numbers; it is not investment advice.

360° rank · history

1007550250
14
2023202420252026

All-time high

24

Oct 2025

All-time low

3

Oct 2024

Average rank

13

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
9
22
13
9
Price/Earnings
1
8
3
16
Price/Book
1
7
1
5
Dividend Yield
91
100
98
100
Value (overall)
5
21
17
13

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →