Apa (APA) Gross Margin (2020 - 2026)
Apa's Gross Margin came in at 94.91% for Q2 2026, up 10.53 percentage points from 84.38% a year earlier and up 2.41 percentage points from the prior quarter.
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Analysis
Apa (APA) Gross Margin (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Apa reported Gross Margin of 90.75%, up 9.14 percentage points year-over-year; for FY2025, it was 83.80%, down 1.01 percentage points from FY2024.
- Gross Margin carries a five-year change of -1.56 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 84.81% in FY2024 (-2.05 pp), 86.87% in FY2023 (+4.53 pp), 82.34% in FY2022 (+5.60 pp) and 76.74% in FY2021 (-8.61 pp).
- The Q2 2026 figure represents the highest quarterly Gross Margin in data going back to Q1 2020.
- Year-over-year, Gross Margin has increased for four consecutive quarters, with an average year-over-year change of +1.79 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q1 2022 (a gain of 15.10 percentage points), and the weakest in Q3 2021 (a drop of 16.04 percentage points).
- Business Quant data shows APA's Gross Margin at 92.51% (Q1 2026), 89.18% (Q4 2025) and 85.43% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 540.77 Bn | 451.32 Bn | 30.13 Bn | 31.83% |
| 2 | Chevron | 403.83 Bn | 381.62 Bn | 33.45 Bn | 47.75% |
| 3 | TotalEnergies SE | 188.75 Bn | 71.88 Bn | - | - |
| 4 | Eni Spa | 170.81 Bn | 120.33 Bn | - | - |
| 5 | Conocophillips | 150.42 Bn | 123.13 Bn | 12.81 Bn | 65.62% |
| 6 | Equinor Asa | 104.06 Bn | 50.12 Bn | - | - |
| 7 | Phillips 66 | 101.90 Bn | 90.89 Bn | 8.38 Bn | 16.10% |
| 8 | Canadian Natural Resources | 97.96 Bn | 94.91 Bn | - | - |
| 9 | Suncor Energy | 80.99 Bn | 66.79 Bn | - | - |
| 10 | Apa | 14.55 Bn | 13.75 Bn | 2.28 Bn | 94.91% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 94.91% |
| Mar 31, 2026 | 92.51% |
| Dec 31, 2025 | 89.18% |
| Sep 30, 2025 | 85.43% |
| Jun 30, 2025 | 84.38% |
| Mar 31, 2025 | 77.87% |
| Dec 31, 2024 | 80.58% |
| Sep 30, 2024 | 83.66% |
| Jun 30, 2024 | 88.14% |
| Mar 31, 2024 | 87.02% |
| Dec 31, 2023 | 85.57% |
| Sep 30, 2023 | 87.01% |
| Jun 30, 2023 | 89.34% |
| Mar 31, 2023 | 85.52% |
| Dec 31, 2022 | 70.97% |
| Sep 30, 2022 | 80.05% |
| Jun 30, 2022 | 82.70% |
| Mar 31, 2022 | 88.71% |
| Dec 31, 2021 | 78.98% |
| Sep 30, 2021 | 71.90% |
API Access
Apa Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=APA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "APA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=APA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();