APA GROUP (APA)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

APA

APA - APA GROUP

FNArena Sector : Infrastructure & Utilities
Year End: June
GICS Industry Group : Utilities
Debt/EBITDA: 7.04
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

APA Group owns and operates natural gas and electricity assets, while increasingly adding renewables. It is Australia's largest natural gas infrastructure business and one of few true local dividend champions. It listed in 2000.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$10.00

06 Aug
2026

-0.180

OPEN

$10.18

-1.77%

HIGH

$10.30

2,367,238

LOW

$10.00

TARGET
$9.443 -5.6% downside
OTHER COMPANIES IN THE SAME SECTOR
AGL . AIA . ALX . CEN . DBI . DBI . GNE . GNP . MEZ . ORG . SRJ . TCL .
FNARENA'S MARKET CONSENSUS FORECASTS
APA: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 7.6 18.3 xxx
DPS (cps) xxx 57.0 58.0 xxx
EPS Growth xxx - 90.1% 100.0% xxx
DPS Growth xxx 1.8% 1.8% xxx
PE Ratio xxx N/A 54.3 xxx
Dividend Yield xxx N/A 5.9% xxx
Div Pay Ratio(%) xxx 746.1% 317.8% xxx

Dividend yield today if purchased 3 years ago: 5.91%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.75

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 29/06 - (franking ex-div 30.50c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx7.6
DPS All xxxxxxxxxxxxxxx57.0
Sales/Revenue xxxxxxxxxxxxxxx3,144.0 M
Book Value Per Share xxxxxxxxxxxxxxx204.5
Net Operating Cash Flow xxxxxxxxxxxxxxx1,284.0 M
Net Profit Margin xxxxxxxxxxxxxxx3.15 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx3.35 %
Return on Invested Capital xxxxxxxxxxxxxxx0.64 %
Return on Assets xxxxxxxxxxxxxxx0.49 %
Return on Equity xxxxxxxxxxxxxxx3.35 %
Return on Total Capital xxxxxxxxxxxxxxx6.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-178.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx17 M
Long Term Debt xxxxxxxxxxxxxxx14,002 M
Total Debt xxxxxxxxxxxxxxx14,019 M
Goodwill - Gross xxxxxxxxxxxxxxx1,860 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx800 M
Price To Book Value xxxxxxxxxxxxxxx3.99

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx964.0 M
Capex % of Sales xxxxxxxxxxxxxxx30.66 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,144 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx0 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx981 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

4

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

22/05/2026

3

Resume coverage with Equal-weight

$10.47

4.70%

Morgan Stanley resumed coverage of APA Group with an Equal-weight rating and $10.47 target, assessing it is the safest way to play the energy security theme currently. The business has low exposure to fuel costs or supply risk but with strong leverage to energy security, including powering AI.

The broker incorporates the $1bn hybrid and the 400MW Brigalow development but considers the valuation stretched.

While constructive on the growth prospects, Morgan Stanley points out energy infrastructure development takes time such as the 3-5 year backlog on gas turbines.

The stock offers a 5.6% dividend yield, which the broker assesses is the safest among its coverage. Industry view is In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 58.00 cents and EPS of 17.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 59.00 cents and EPS of 23.00 cents.

Ord Minnett

xx/xx/xxxx

4

xxxxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

06/08/2026

3

Downgrade to Neutral from Overweight

$10.25

2.50%

Jarden observes delays, planned and unplanned outages and price lags have meant that most energy stocks were unable to take full advantage of the higher oil/LNG prices in the June quarter.

The broker expects a 180-degree turnaround in the next 12 months amid higher production, higher price realisations and lower capital expenditure.

For APA Group, the broker ascribes some of the recent performance in the share price to shareholder optimism about the company being a second-order derivative play on the data centre theme.

While bullish on data centres, Jarden points out, even if APA does participate, returns on any new investment will not be realised until the 2030s.

Rating is downgraded to Neutral from Overweight, as revenue is largely CPI-linked and shareholders are unlikely to derive any benefit in the form of higher dividends. The target is lifted 9% to $10.25.

FORECAST
Jarden forecasts a full year FY26 dividend of 58.00 cents and EPS of 18.50 cents.
Access Extra Coverage Research History >

APA STOCK CHART

FNArena News on APA

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 07-08-26

Aug 07 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 06, 2026

Aug 06 2026 - Daily Market Reports
3
Rudi’s View: Final Preparations For August

Aug 05 2026 - Rudi's View
4
ESG Focus: War Accelerates Energy Transition

Jul 15 2026 - ESG Focus
5
Rudi’s View: July’s Stock Pickers’ Favourites

Jul 09 2026 - Rudi's View

Latest Infrastructure & Utilities News

1
Technical Support For Dalrymple Bay Shares

Jul 21 2026 - Technicals
2
APA Group; Australia’s Safest Yield Stock

Jun 23 2026 - Australia
3
Dalrymple Bay’s Utility Appeal

Apr 16 2026 - Small Caps
4
Platinum Add-On Bolsters IPD Group’s Outlook

Jan 21 2026 - Small Caps
5
$2.3bn Battery Subsidy Reshaping Australia’s Energy Stocks

Oct 16 2025 - ESG Focus
6
Unique, Predictable And Stable Dalrymple Bay

Oct 16 2025 - Australia
7
Infra-aaS: The New Frontier In ASX Infrastructure Investing

Oct 08 2025 - Australia
8
OpenAI: Tech Boom, Bubble & Disruption

Sep 18 2025 - International
9
Can Origin Energy Release The Kraken?

Sep 15 2025 - Australia
10
AGL: Short Term Pain, Long Term Gain

Aug 15 2025 - Australia