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

$8.87

16 Sep
2025

-0.010

OPEN

$8.88

-0.11%

HIGH

$8.91

2,256,005

LOW

$8.83

TARGET
$8.398 -5.3% 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 21.2 xxx
DPS (cps) xxx 57.0 57.8 xxx
EPS Growth xxx - 90.1% 100.0% xxx
DPS Growth xxx 1.8% 1.3% xxx
PE Ratio xxx N/A 41.9 xxx
Dividend Yield xxx N/A 6.5% xxx
Div Pay Ratio(%) xxx 746.1% 272.1% xxx

Dividend yield today if purchased 3 years ago: 5.40%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.41

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: 30/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$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

21/08/2025

1

Outperform

$9.23

4.06%

APA Group reported FY25 earnings pre one-offs up 6.4%, which broadly met Macquarie and consensus forecasts. FY26 guidance is also in line, as was the 58c dividend.

Macquarie notes ongoing high one-off costs. Growth was generated by the east coast grid, up 6.3%, with the west coast up 5.2% meeting estimates.

Power transmission rose 17.3%, which was slightly better than expected, with improvement in the Mt Isa power system and first income from Port Hedland SDF/battery.

Gas being part of the energy transition strengthens the growth outlook, Macquarie suggests, with three-year capex at -$2.1bn (previously -$1.8bn).

The yield of 6.7% pa is sustainable, the broker believes, with growing franking in coming years. Core earnings momentum should build
with cost reductions and as new investment becomes income-generating. Target rises to $9.23 from $8.14, Outperform retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 58.00 cents and EPS of 17.20 cents.
Macquarie forecasts a full year FY27 dividend of 59.00 cents and EPS of 20.80 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$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

25/08/2025

2

Overweight

$9.10

2.59%

Jarden notes APA Group has given up its ambition to become a major east cost transmission developer and will instead refocus on gas. The broker reckons the strategy will be welcomed by the market and is sensible in its view.

The FY25 underlying EBITDA met consensus and came at the top end of guidance. Reported net profit beat the broker's estimate and consensus, while free cash flow was in line with the broker but 3% ahead of the consensus.

FY26 EBITDA guidance was in line with consensus, though the broker estimates it's a 1% beat as consensus didn't factor in recent sale of Networks business.

Overall the broker believes execution risk is reduced, cash flow remains strong, and medium-term EBITDA growth is underpinned by CPI pass-through, new contracts, and cost savings.

Overweight. Target lifted to $9.10 from $8.90 mainly on lower medium-term cost outlook.

FORECAST
Jarden forecasts a full year FY26 dividend of 58.00 cents and EPS of 19.10 cents.
Jarden forecasts a full year FY27 dividend of 59.00 cents and EPS of 23.80 cents.
Access Extra Coverage Research History >

APA STOCK CHART

FNArena News on APA

1
Service Stream’s Positive Defence Surprise

Sep 16 2025 - Small Caps
2
Australian Broker Call *Extra* Edition – Sep 11, 2025

Sep 11 2025 - Daily Market Reports
3
Corporate Australia’s Refinancing Challenge

Sep 01 2025 - Australia
4
Australia Defies Global ESG Retreat In 2025

Aug 27 2025 - ESG Focus
5
Australian Broker Call *Extra* Edition – Aug 25, 2025

Aug 25 2025 - Daily Market Reports

Latest Infrastructure & Utilities News

1
Can Origin Energy Release The Kraken?

Sep 15 2025 - Australia
2
AGL: Short Term Pain, Long Term Gain

Aug 15 2025 - Australia
3
ESG Focus: Infragreen & The Era of Opportunity

Jul 14 2025 - ESG Focus
4
SRG Global: Building Australia

Jul 10 2025 - Small Caps
5
SRG Global: Continued Re-Rating Ahead

May 16 2025 - Small Caps
6
AGL Energy’s Bull Flag A Positive Signal

Apr 08 2025 - Technicals
7
Rudi’s View: To Sell Or Not To Sell

Mar 06 2025 - Rudi's View
8
AGL Energy: Data Centres To The Rescue?

Nov 07 2024 - Australia
9
Origin Energy Surprises To The Downside

Aug 20 2024 - Australia
10
Uptrend In Place For Origin Energy

Jul 30 2024 - Technicals