APA
APA returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 24.81% | — | — | 9.3% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 20.9% | — | 25.78% | 8.37% | — |
| FY 2025 Q4 | Dec 31, 2025 | 16.44% | 19.52% | — | 25.22% | 7.72% | 8.7 pp |
| FY 2025 Q3 | Sep 30, 2025 | — | 20.78% | — | 27.24% | 8.91% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 14.59% | — | 19.09% | 6.83% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 18.31% | — | 25.34% | 7.91% | — |
| FY 2024 Q4 | Dec 31, 2024 | 17.29% | 16.68% | — | 20.26% | 6.46% | 9.6 pp |
| FY 2024 Q3 | Sep 30, 2024 | — | 18.26% | — | 71.8% | 15.53% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 26.49% | — | 94.75% | 19.44% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 28.95% | — | 179.94% | 21.96% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | 31.62% | — | 185.51% | 22.59% | — |
| FY 2023 Q3 | Sep 30, 2023 | — | 35.45% | — | 181.76% | 13.85% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | 39.56% | — | 230.16% | 14.19% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 47.66% | — | 954.46% | 19.17% | — |
| FY 2022 Q4 | Dec 31, 2022 | 60.74% | 51.97% | 3,186.89% | — | 30.87% | 53 pp |
| FY 2022 Q3 | Sep 30, 2022 | — | 47.15% | — | — | 29.9% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | 42.91% | — | — | 26.24% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | 33.67% | — | — | 21.94% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | — | — | — | — | — |
| FY 2021 Q3 | Sep 30, 2021 | — | — | — | — | — | — |
| FY 2021 Q2 | Jun 30, 2021 | — | — | — | — | — | — |
| FY 2021 Q1 | Mar 31, 2021 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · APA, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.