APA GROUP (APA)
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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

$8.78

27 Aug
2025

0.070

OPEN

$8.72

0.80%

HIGH

$8.83

2,551,035

LOW

$8.72

TARGET
$8.372 -4.6% 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 22.0 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 40.0 xxx
Dividend Yield xxx N/A 6.6% xxx
Div Pay Ratio(%) xxx 746.1% 262.5% xxx

Dividend yield today if purchased 3 years ago: 5.05%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.47

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

Morgans

xx/xx/xxxx

4

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Ord Minnett

21/08/2025

2

Accumulate

$8.70

-0.91%

APA Group’s FY25 earnings (EBITDA) were in line with Ord Minnett’s and consensus forecasts.

FY26 guidance was upgraded on cost savings, Basslink earnings, and currency hedging benefits from the Wallumbilla–Gladstone pipeline, explains the broker.

Guidance reflects the sale of the networks business, expected to complete in the December quarter. The broker notes Basslink’s shift to spot trading increases earnings potential but also adds volatility.

Management has repositioned towards core assets, supported by asset recycling and cost savings, with a -$2.1bn growth pipeline and sufficient balance sheet capacity to fund both projects and dividends.

Ord Minnett cuts its FY26-FY28 EPS forecasts by -19.3%, -25% and -8.7%, respectively, to account for the networks divestment and conservative Basslink estimates, partly offset by cost savings.

The broker raises its target price to $8.70 from $8.60 and retains an Accumulate rating. The final dividend was pre-released.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

23/08/2025

2

Overweight

$9.10

3.64%

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 >

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