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

$10.30

25 May
2026

0.000

OPEN

$10.30

0.000

HIGH

$10.33

2,198,023

LOW

$10.20

TARGET
$9.028 -12.3% 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 18.9 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 53.6 xxx
Dividend Yield xxx N/A 5.7% xxx
Div Pay Ratio(%) xxx 746.1% 307.4% xxx

Dividend yield today if purchased 3 years ago: 5.66%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.63

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-div 27.5c)

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

-0.2

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

3

xxxxxx xxxxxxxx xxxx xxxxx-xxxxxx

$xx.xx

xx.xx%

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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

07/04/2026

4

Downgrade to Lighten from Hold

$8.30

-19.42%

Ord Minnett has reviewed its commodity price assumptions and energy sector coverage as the war in the Middle East continues amid considerable damage to production facilities in the Persian Gulf.

The review has resulted in increases to June quarter spot price assumptions, representing a rise of 33% for both Brent crude and LNG. This in turn drives steep earnings upgrades for some producers and more modest changes to others under the broker's coverage.

A price of US$100/barrel is forecast for the first half of 2026 for Brent before a gradual retreat to US$85/barrel in the second half. LNG prices are assumed at US$20/mmBtu in the first half and remain elevated for the rest of the year.

Ord Minnett downgrades APA Group to Lighten from Hold, maintaining a steady target at $8.30.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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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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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

26/02/2026

2

Overweight

$9.40

-8.74%

Jarden retains an Overweight rating on APA Group and lowers its target price to $9.40 from $9.50 following the interim result and commitment to East Coast Gas Grid expansion.

It's felt the early expansion decision increases risk but provides a defensive benefit by reducing competitive threats from LNG imports. 

Underlying earnings (EBITDA) of $1,092m for the half were broadly in line with forecasts by the broker and consensus. Free cash flow (FCF) of $556m was also in line.

FY26 earnings guidance is unchanged at $2,120-2,200m, though management expects earnings to land above the midpoint. The three-year organic growth pipeline has expanded to -$3.0bn from -$2.1bn.

FORECAST
Jarden forecasts a full year FY26 dividend of 58.00 cents and EPS of 16.40 cents.
Jarden forecasts a full year FY27 dividend of 59.00 cents and EPS of 20.10 cents.
Access Extra Coverage Research History >

APA STOCK CHART

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Apr 30 2026 - Rudi's View
4
Rudi’s View: More Downgrades Are Coming

Apr 29 2026 - Rudi's View
5
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Apr 13 2026 - Weekly Reports

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