APA Group

ASX:APA Stock Report

Market Cap: AU$14.5b

APA Group Future Growth

Future criteria checks 3/6

APA Group is forecast to grow earnings and revenue by 18.8% and 4.3% per annum respectively. EPS is expected to grow by 18.1% per annum. Return on equity is forecast to be 28.2% in 3 years.

Key information

18.8%

Earnings growth rate

18.12%

EPS growth rate

Gas Utilities earnings growth6.2%
Revenue growth rate4.3%
Future return on equity28.16%
Analyst coverage

Good

Last updated30 Aug 2026

Recent future growth updates

Recent updates

Narrative Update • Aug 20

APA: Pipeline Expansion And Higher P/E Will Shape Balanced Future Returns

The analyst price target for APA Group has been updated from A$9.32 to A$9.69, as analysts adjust their assumptions to reflect revised revenue growth expectations, a higher discount rate, and a slightly higher projected profit margin and future P/E multiple. What’s in the News for APA Group APA Group received approval from the Australian Energy Regulator for a A$213 million expansion of the South West Pipeline in Victoria, including two new compressor stations at Pirron Yallock and Stonehaven.
Narrative Update • Jun 18

APA: Gas Infrastructure Pivot And Elevated P/E Will Constrain Future Returns

Analysts have raised their fair value estimate for APA Group to A$9.32 from A$9.14, reflecting updated assumptions around discount rates, profit margins and future P/E expectations. What’s in the News for APA Group APA Group is reprioritising capital toward gas transmission and gas-fired generation assets to support energy system reliability and energy security in Australia.
Analysis Article • Jun 16

APA Group (ASX:APA) Shares Could Be 18.4% Overvalued After Capital Allocation Reset

APA Group (ASX:APA) has shifted its capital allocation priorities toward gas infrastructure and grid reliability projects, reducing emphasis on some renewable developments while keeping long term climate commitments and dividend-focused earnings in view for investors. See our latest analysis for APA Group. The recent capital allocation update comes after a strong run in APA Group shares, with a 90 day share price return of 15.97% and a 1 year total shareholder return of 37.57%. This suggests...
Narrative Update • Jun 03

APA: Elevated P/E And Gas Expansion Deal Will Limit Future Upside

Analysts have slightly raised their price target for APA Group to A$9.14 from A$9.03, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Worley has secured a three year engineering services framework agreement with APA Group to support APA's gas transmission and storage portfolio across Australia.
Narrative Update • Apr 24

APA: Elevated P/E And Rich Interim Distribution Will Constrain Future Returns

APA Group's analyst price target has been adjusted slightly higher from A$8.95 to A$9.03 as analysts refine their assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News The Board has resolved to pay an interim distribution of A$0.275 per security for the half year ended 31 December 2025, compared with A$0.27 per security for the first half 2025 interim distribution (Key Developments).
Narrative Update • Apr 09

APA: Elevated P/E And Interim Distribution Structure Will Signal Limited Upside

Analysts have kept their A$8.95 price target for APA Group steady, with only minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions underpinning the updated view. What's in the News The Board has resolved to pay an interim distribution of A$0.275 per security for the half year ended 31 December 2025, with payment expected on 18 March 2026 (Key Developments).
Narrative Update • Mar 25

APA: Future Interim Distribution Mix And Earnings Assumptions Will Support A Measured Outlook

Analysts have kept their A$8.95 price target for APA Group unchanged, pointing to only minor tweaks in assumptions such as a slightly lower discount rate and refined long term P/E and margin inputs. What's in the News The Board has resolved to pay an interim distribution of A$0.275 per security for the half year ended 31 December 2025, compared with A$0.27 per security for the first half 2025 interim distribution, which the company describes as a 1.9% increase (Key Developments).
Narrative Update • Mar 10

APA: Future Distributions And Earnings Assumptions Will Support A Measured Outlook

Analysts have trimmed their price target for APA Group to A$8.95 from A$9.00. This reflects slightly lower assumed revenue growth and a modestly reduced discount rate, partly offset by a small uplift in projected profit margins and a marginally lower future P/E multiple.
Narrative Update • Feb 23

APA: Future Distributions And Earnings Assumptions Will Support A Measured Outlook

Analysts have adjusted their fair value estimate for APA Group from A$8.72 to A$8.95, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News APA Group announced an estimated interim distribution of A$0.275 per security for the six months ended 31 December 2025, compared with the FY25 interim distribution of A$0.270 per security, described as a 1.9% increase (Key Developments).
Analysis Article • Dec 19

APA Group's (ASX:APA) Dividend Will Be A$0.275

The board of APA Group ( ASX:APA ) has announced that it will pay a dividend of A$0.275 per share on the 18th of March...
Analysis Article • Oct 15

Increases to APA Group's (ASX:APA) CEO Compensation Might Cool off for now

Key Insights APA Group's Annual General Meeting to take place on 22nd of October CEO Adam Watson's total compensation...
Analysis Article • Oct 01

Pinning Down APA Group's (ASX:APA) P/S Is Difficult Right Now

APA Group's ( ASX:APA ) price-to-sales (or "P/S") ratio of 3.7x may look like a poor investment opportunity when you...
Narrative Update • Aug 22

New Technology Like Basslink May Increase Capacity, But Regulatory Risks Persist

The upward revision in APA Group’s price target reflects a significant improvement in net profit margin, outweighing a reduced revenue growth outlook, with the consensus fair value increasing to A$8.67. What's in the News APA Infrastructure Trust and APA Investment Trust proposed amendments to their constitutions to insert a new clause 12 in the schedule.
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New Narrative • Feb 09

New Technology Like Basslink May Increase Capacity, But Regulatory Risks Persist

Investment in technology and strategic acquisitions could drive revenue growth and enhance profitability, with improved asset utilization and successful integration.

Earnings and Revenue Growth Forecasts

ASX:APA - Analysts future estimates and past financials data (AUD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
6/30/20293,5114321,2681,5414
6/30/20283,3723561,1921,4525
6/30/20273,2243191,2331,4265
6/30/20263,0032074071,252N/A
3/31/20263,1001853771,224N/A
12/31/20253,1971623461,196N/A
9/30/20253,2011313331,240N/A
6/30/20253,204993201,284N/A
3/31/20253,187272511,257N/A
12/31/20243,169-461811,229N/A
9/30/20243,1174661211,193N/A
6/30/20243,064978601,156N/A
3/31/20242,9971,052681,201N/A
12/31/20232,9301,126761,245N/A
9/30/20232,922695511,226N/A
6/30/20232,913263261,206N/A
3/31/20232,8802671111,177N/A
12/31/20222,8472721951,148N/A
9/30/20222,7892513521,173N/A
6/30/20222,7322315081,197N/A
3/31/20222,7131715741,169N/A
12/31/20212,6941126391,140N/A
9/30/20212,650356291,096N/A
6/30/20212,605-426181,051N/A
3/31/20212,588136271,070N/A
12/31/20202,572686361,089N/A
9/30/20202,5811636531,088N/A
6/30/20202,5912596691,088N/A
3/31/20202,560282N/A1,071N/A
12/31/20192,529306N/A1,054N/A
9/30/20192,491297N/A1,033N/A
6/30/20192,452288N/A1,012N/A
3/31/20192,444293N/A1,026N/A
12/31/20182,435298N/A1,039N/A
9/30/20182,411282N/A1,035N/A
6/30/20182,387265N/A1,032N/A
3/31/20182,361243N/A975N/A
12/31/20172,336221N/A918N/A
9/30/20172,331229N/A946N/A
6/30/20172,326237N/A974N/A
3/31/20172,275228N/A946N/A
12/31/20162,224220N/A919N/A
9/30/20162,159200N/A890N/A
6/30/20162,094180N/A862N/A
3/31/20161,978186N/A803N/A
12/31/20151,863192N/A744N/A
9/30/20151,708376N/A653N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: APA's forecast earnings growth (18.8% per year) is above the savings rate (3.8%).

Earnings vs Market: APA's earnings (18.8% per year) are forecast to grow faster than the Australian market (11.1% per year).

High Growth Earnings: APA's earnings are forecast to grow, but not significantly.

Revenue vs Market: APA's revenue (4.3% per year) is forecast to grow slower than the Australian market (5.2% per year).

High Growth Revenue: APA's revenue (4.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: APA's Return on Equity is forecast to be high in 3 years time (28.2%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/14 08:45
End of Day Share Price 2026/09/14 00:00
Earnings2026/06/30
Annual Earnings2026/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

APA Group is covered by 18 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Uwan MinogueBarrenjoey Markets Pty Limited
Cameron NeedhamBofA Global Research
Andrew ScottCGS International