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Side-by-side financial comparison of APA Corporation (APA) and CVR ENERGY INC (CVI). Click either name above to swap in a different company.
APA Corporation is the larger business by last-quarter revenue ($2.0B vs $2.0B, roughly 1.0× CVR ENERGY INC). APA Corporation runs the higher net margin — 14.0% vs -8.1%, a 22.1% gap on every dollar of revenue. On growth, CVR ENERGY INC posted the faster year-over-year revenue change (20.3% vs -26.6%). APA Corporation produced more free cash flow last quarter ($425.0M vs $21.0M). Over the past eight quarters, CVR ENERGY INC's revenue compounded faster (0.3% CAGR vs -16.3%).
APA Corporation, a holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston.
CVR Energy Inc is a United States-based energy holding company operating two core segments: petroleum refining and nitrogen fertilizer manufacturing. It produces a wide range of products including gasoline, diesel, jet fuel, and agricultural fertilizers, primarily serving commercial, industrial and agricultural customers across North America.
APA vs CVI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $2.0B |
| Net Profit | $279.0M | $-160.0M |
| Gross Margin | — | -5.2% |
| Operating Margin | — | — |
| Net Margin | 14.0% | -8.1% |
| Revenue YoY | -26.6% | 20.3% |
| Net Profit YoY | 453.6% | -56.1% |
| EPS (diluted) | $0.79 | $-1.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $2.0B | $2.0B | ||
| Q4 25 | $2.2B | $1.8B | ||
| Q3 25 | $2.3B | $1.9B | ||
| Q2 25 | $2.3B | $1.8B | ||
| Q1 25 | $2.7B | $1.6B | ||
| Q4 24 | $2.9B | $1.9B | ||
| Q3 24 | $2.7B | $1.8B | ||
| Q2 24 | $2.8B | $2.0B |
| Q1 26 | $279.0M | $-160.0M | ||
| Q4 25 | $331.0M | $-110.0M | ||
| Q3 25 | $205.0M | $374.0M | ||
| Q2 25 | $603.0M | $-114.0M | ||
| Q1 25 | $418.0M | $-123.0M | ||
| Q4 24 | $425.0M | $28.0M | ||
| Q3 24 | $-223.0M | $-124.0M | ||
| Q2 24 | $541.0M | $21.0M |
| Q1 26 | — | -5.2% | ||
| Q4 25 | — | -3.1% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | -3.7% | ||
| Q1 25 | — | -5.5% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | -3.9% | ||
| Q2 24 | — | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 32.5% | -5.3% | ||
| Q3 25 | 33.7% | 26.3% | ||
| Q2 25 | 31.8% | -5.8% | ||
| Q1 25 | 31.9% | -8.0% | ||
| Q4 24 | 31.4% | 1.1% | ||
| Q3 24 | -5.2% | -6.2% | ||
| Q2 24 | 34.4% | 1.4% |
| Q1 26 | 14.0% | -8.1% | ||
| Q4 25 | 15.0% | -6.1% | ||
| Q3 25 | 9.0% | 19.2% | ||
| Q2 25 | 26.0% | -6.5% | ||
| Q1 25 | 15.4% | -7.5% | ||
| Q4 24 | 14.6% | 1.4% | ||
| Q3 24 | -8.1% | -6.8% | ||
| Q2 24 | 19.0% | 1.1% |
| Q1 26 | $0.79 | $-1.91 | ||
| Q4 25 | $0.79 | $-1.09 | ||
| Q3 25 | $0.57 | $3.72 | ||
| Q2 25 | $1.67 | $-1.14 | ||
| Q1 25 | $0.96 | $-1.22 | ||
| Q4 24 | $0.97 | $0.28 | ||
| Q3 24 | $-0.60 | $-1.24 | ||
| Q2 24 | $1.46 | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $516.0K | $512.0M |
| Total DebtLower is stronger | $4.3M | — |
| Stockholders' EquityBook value | — | — |
| Total Assets | $17.8M | $3.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $516.0K | $512.0M | ||
| Q4 25 | $516.0M | $511.0M | ||
| Q3 25 | $475.0M | $670.0M | ||
| Q2 25 | $107.0M | $596.0M | ||
| Q1 25 | $67.0M | $695.0M | ||
| Q4 24 | $625.0M | $987.0M | ||
| Q3 24 | $64.0M | $534.0M | ||
| Q2 24 | $160.0M | $586.0M |
| Q1 26 | $4.3M | — | ||
| Q4 25 | $4.3B | $1.8B | ||
| Q3 25 | $4.3B | $1.8B | ||
| Q2 25 | $4.3B | $1.8B | ||
| Q1 25 | $5.2B | $1.9B | ||
| Q4 24 | $6.0B | $1.9B | ||
| Q3 24 | $6.4B | $1.6B | ||
| Q2 24 | $6.7B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $6.1B | $730.0M | ||
| Q3 25 | $6.0B | $840.0M | ||
| Q2 25 | $5.9B | $466.0M | ||
| Q1 25 | $5.4B | $580.0M | ||
| Q4 24 | $5.3B | $703.0M | ||
| Q3 24 | $5.1B | $675.0M | ||
| Q2 24 | $5.4B | $849.0M |
| Q1 26 | $17.8M | $3.9B | ||
| Q4 25 | $17.8B | $3.7B | ||
| Q3 25 | $17.7B | $4.0B | ||
| Q2 25 | $18.1B | $4.0B | ||
| Q1 25 | $18.5B | $4.3B | ||
| Q4 24 | $19.4B | $4.3B | ||
| Q3 24 | $19.4B | $3.9B | ||
| Q2 24 | $20.2B | $4.0B |
| Q1 26 | — | — | ||
| Q4 25 | 0.70× | 2.40× | ||
| Q3 25 | 0.72× | 2.17× | ||
| Q2 25 | 0.73× | 3.97× | ||
| Q1 25 | 0.96× | 3.29× | ||
| Q4 24 | 1.13× | 2.71× | ||
| Q3 24 | 1.25× | 2.33× | ||
| Q2 24 | 1.24× | 1.86× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $808.0M | — |
| Free Cash FlowOCF − Capex | $425.0M | $21.0M |
| FCF MarginFCF / Revenue | 21.3% | 1.1% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 2.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $808.0M | — | ||
| Q4 25 | $808.0M | $0 | ||
| Q3 25 | $1.5B | $163.0M | ||
| Q2 25 | $1.2B | $176.0M | ||
| Q1 25 | $1.1B | $-195.0M | ||
| Q4 24 | $1.0B | $98.0M | ||
| Q3 24 | $1.3B | $48.0M | ||
| Q2 24 | $877.0M | $81.0M |
| Q1 26 | $425.0M | $21.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $125.0M | ||
| Q2 25 | — | $135.0M | ||
| Q1 25 | — | $-246.0M | ||
| Q4 24 | — | $43.0M | ||
| Q3 24 | — | $14.0M | ||
| Q2 24 | — | $38.0M |
| Q1 26 | 21.3% | 1.1% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | -14.9% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 1.9% |
| Q1 26 | — | 1.5% | ||
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 2.2% |
| Q1 26 | 2.90× | — | ||
| Q4 25 | 2.44× | — | ||
| Q3 25 | 7.12× | 0.44× | ||
| Q2 25 | 1.96× | — | ||
| Q1 25 | 2.62× | — | ||
| Q4 24 | 2.44× | 3.50× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.62× | 3.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APA
| Oil revenues | $1.4B | 68% |
| Purchased oil and gas sales | $323.0M | 16% |
| Natural gas revenues | $161.0M | 8% |
| Natural gas liquids revenues | $149.0M | 7% |
CVI
Segment breakdown not available.
