Price to Earnings (P/E)
since 2005
Calculation
Apache Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Income (loss) attributable to common stock1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2016 | — | = | 39.47 | ÷ | -61.11 | -61.11 | = | -23,119 | ÷ | 378,297,784 | |
| Feb 27, 2015 | — | = | 65.84 | ÷ | -14.34 | -14.34 | = | -5,403 | ÷ | 376,823,368 | |
| Feb 28, 2014 | 14.30 | = | 79.29 | ÷ | 5.54 | 5.54 | = | 2,188 | ÷ | 394,724,983 | |
| Mar 1, 2013 | 15.01 | = | 73.75 | ÷ | 4.91 | 4.91 | = | 1,925 | ÷ | 391,758,883 | |
| Feb 29, 2012 | 9.20 | = | 107.93 | ÷ | 11.73 | 11.73 | = | 4,508 | ÷ | 384,321,970 | |
| Feb 28, 2011 | 15.90 | = | 124.62 | ÷ | 7.84 | 7.84 | = | 3,000 | ÷ | 382,752,217 | |
| Feb 26, 2010 | — | = | 103.64 | ÷ | -0.87 | -0.87 | = | -292 | ÷ | 336,550,234 | |
| Mar 2, 2009 | 24.81 | = | 52.35 | ÷ | 2.11 | 2.11 | = | 706 | ÷ | 334,753,638 | |
| Feb 29, 2008 | 13.61 | = | 114.71 | ÷ | 8.43 | 8.43 | = | 2,807 | ÷ | 332,991,134 | |
| Mar 1, 2007 | 8.90 | = | 68.48 | ÷ | 7.70 | 7.70 | = | 2,547 | ÷ | 330,958,433 | |
| Mar 14, 2006 | 8.23 | = | 65.23 | ÷ | 7.93 | 7.93 | = | 2,618 | ÷ | 330,307,585 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Apache Corp. Annual Report.
The financial performance and market valuation of the entity from 2006 to 2016 exhibit significant volatility, characterized by a cyclical pattern of growth and subsequent contraction in both profitability and share price.
- Share Price Volatility
- A steady ascent in share price is observed from 2006 to 2008, reaching 114.71 US$. This was followed by a sharp correction in 2009, where the price fell to 52.35 US$, before recovering to a period high of 124.62 US$ in 2011. From 2012 onward, a consistent downward trend is evident, culminating in a valuation low of 39.47 US$ by February 2016.
- Earnings per Share (EPS) Performance
- Earnings remained relatively stable between 2006 and 2008, averaging approximately 8.00 US$. A substantial contraction occurred in 2009, leading to a net loss in 2010. Although a recovery peaked in 2012 at 11.73 US$, the subsequent years saw a precipitous decline. By 2016, EPS reached a critical low of -61.11 US$, reflecting severe financial distress or significant asset write-downs.
- Price-to-Earnings (P/E) Ratio Analysis
- The P/E ratio trend reflects a misalignment between market sentiment and realized earnings during periods of instability. The ratio peaked at 24.81 in 2009, occurring because the share price did not decline as sharply as the earnings per share. Between 2011 and 2014, the ratio fluctuated within a range of 9.20 to 15.90. The absence of P/E ratios in 2010, 2015, and 2016 corresponds directly with negative EPS figures, as the ratio is mathematically non-applicable during periods of net loss.
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Comparison to Competitors
Apache Corp., P/E, long-term trends, comparison to competitors
| Apache Corp. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Feb 26, 2016 | — | 35.02 | — | 20.96 |
| Feb 27, 2015 | — | 10.61 | 12.03 | 11.56 |
| Feb 28, 2014 | 14.30 | 10.04 | 8.91 | 12.71 |
| Mar 1, 2013 | 15.01 | 8.61 | 8.49 | 8.94 |
| Feb 29, 2012 | 9.20 | 7.96 | 7.60 | 10.03 |
| Feb 28, 2011 | 15.90 | 10.77 | 9.89 | 13.89 |
| Feb 26, 2010 | — | 13.81 | 14.78 | 15.92 |
| Mar 2, 2009 | 24.81 | 5.29 | — | 7.42 |
| Feb 29, 2008 | 13.61 | 9.89 | 10.59 | 11.78 |
| Mar 1, 2007 | 8.90 | 8.63 | 7.09 | 10.33 |
| Mar 14, 2006 | 8.23 | 9.04 | 6.31 | 10.03 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Apache Corp., P/E, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Apache Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Feb 26, 2016 | — | 33.10 |
| Feb 27, 2015 | — | 11.30 |
| Feb 28, 2014 | 14.30 | 11.25 |
| Mar 1, 2013 | 15.01 | 8.78 |
| Feb 29, 2012 | 9.20 | 8.96 |
| Feb 28, 2011 | 15.90 | 12.17 |
| Feb 26, 2010 | — | 15.12 |
| Mar 2, 2009 | 24.81 | 9.95 |
| Feb 29, 2008 | 13.61 | 11.08 |
| Mar 1, 2007 | 8.90 | 9.23 |
| Mar 14, 2006 | 8.23 | 9.02 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Apache Corp., P/E, long-term trends, comparison to industry (energy)
| Apache Corp. | Energy | |
|---|---|---|
| Feb 26, 2016 | — | 33.85 |
| Feb 27, 2015 | — | 11.97 |
| Feb 28, 2014 | 14.30 | 11.81 |
| Mar 1, 2013 | 15.01 | 9.43 |
| Feb 29, 2012 | 9.20 | 9.63 |
| Feb 28, 2011 | 15.90 | 13.24 |
| Feb 26, 2010 | — | 15.83 |
| Mar 2, 2009 | 24.81 | 9.90 |
| Feb 29, 2008 | 13.61 | 11.66 |
| Mar 1, 2007 | 8.90 | 9.76 |
| Mar 14, 2006 | 8.23 | 9.78 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).