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Side-by-side financial comparison of APA Corporation (APA) and RXO, Inc. (RXO). Click either name above to swap in a different company.
APA Corporation is the larger business by last-quarter revenue ($2.2B vs $1.5B, roughly 1.5× RXO, Inc.). APA Corporation runs the higher net margin — 15.0% vs -3.1%, a 18.1% gap on every dollar of revenue. On growth, RXO, Inc. posted the faster year-over-year revenue change (-11.9% vs -24.3%). Over the past eight quarters, RXO, Inc.'s revenue compounded faster (26.8% CAGR vs 1.4%).
APA Corporation, a holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston.
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
APA vs RXO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $1.5B |
| Net Profit | $331.0M | $-46.0M |
| Gross Margin | — | — |
| Operating Margin | 32.5% | -2.9% |
| Net Margin | 15.0% | -3.1% |
| Revenue YoY | -24.3% | -11.9% |
| Net Profit YoY | -22.1% | -84.0% |
| EPS (diluted) | $0.79 | $-0.28 |
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.
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.3B | $1.4B | ||
| Q1 25 | $2.7B | $1.4B | ||
| Q4 24 | $2.9B | $1.7B | ||
| Q3 24 | $2.7B | $1.0B | ||
| Q2 24 | $2.8B | $930.0M | ||
| Q1 24 | $2.1B | $913.0M |
| Q4 25 | $331.0M | $-46.0M | ||
| Q3 25 | $205.0M | $-14.0M | ||
| Q2 25 | $603.0M | $-9.0M | ||
| Q1 25 | $418.0M | $-31.0M | ||
| Q4 24 | $425.0M | $-25.0M | ||
| Q3 24 | $-223.0M | $-243.0M | ||
| Q2 24 | $541.0M | $-7.0M | ||
| Q1 24 | $212.0M | $-15.0M |
| Q4 25 | 32.5% | -2.9% | ||
| Q3 25 | 33.7% | -0.5% | ||
| Q2 25 | 31.8% | — | ||
| Q1 25 | 31.9% | -2.1% | ||
| Q4 24 | 31.4% | -1.4% | ||
| Q3 24 | -5.2% | -1.9% | ||
| Q2 24 | 34.4% | — | ||
| Q1 24 | 32.2% | -1.3% |
| Q4 25 | 15.0% | -3.1% | ||
| Q3 25 | 9.0% | -1.0% | ||
| Q2 25 | 26.0% | -0.6% | ||
| Q1 25 | 15.4% | -2.2% | ||
| Q4 24 | 14.6% | -1.5% | ||
| Q3 24 | -8.1% | -23.4% | ||
| Q2 24 | 19.0% | -0.8% | ||
| Q1 24 | 9.9% | -1.6% |
| Q4 25 | $0.79 | $-0.28 | ||
| Q3 25 | $0.57 | $-0.08 | ||
| Q2 25 | $1.67 | $-0.05 | ||
| Q1 25 | $0.96 | $-0.18 | ||
| Q4 24 | $0.97 | $-0.17 | ||
| Q3 24 | $-0.60 | $-1.81 | ||
| Q2 24 | $1.46 | $-0.06 | ||
| Q1 24 | $0.44 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $516.0M | $17.0M |
| Total DebtLower is stronger | $4.3B | $387.0M |
| Stockholders' EquityBook value | $6.1B | $1.5B |
| Total Assets | $17.8B | $3.3B |
| Debt / EquityLower = less leverage | 0.70× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $516.0M | $17.0M | ||
| Q3 25 | $475.0M | $25.0M | ||
| Q2 25 | $107.0M | $18.0M | ||
| Q1 25 | $67.0M | $16.0M | ||
| Q4 24 | $625.0M | $35.0M | ||
| Q3 24 | $64.0M | $55.0M | ||
| Q2 24 | $160.0M | $7.0M | ||
| Q1 24 | $102.0M | $7.0M |
| Q4 25 | $4.3B | $387.0M | ||
| Q3 25 | $4.3B | $387.0M | ||
| Q2 25 | $4.3B | $387.0M | ||
| Q1 25 | $5.2B | $387.0M | ||
| Q4 24 | $6.0B | $351.0M | ||
| Q3 24 | $6.4B | $352.0M | ||
| Q2 24 | $6.7B | $370.0M | ||
| Q1 24 | $5.2B | $351.0M |
| Q4 25 | $6.1B | $1.5B | ||
| Q3 25 | $6.0B | $1.6B | ||
| Q2 25 | $5.9B | $1.6B | ||
| Q1 25 | $5.4B | $1.6B | ||
| Q4 24 | $5.3B | $1.6B | ||
| Q3 24 | $5.1B | $1.7B | ||
| Q2 24 | $5.4B | $579.0M | ||
| Q1 24 | $2.6B | $582.0M |
| Q4 25 | $17.8B | $3.3B | ||
| Q3 25 | $17.7B | $3.2B | ||
| Q2 25 | $18.1B | $3.2B | ||
| Q1 25 | $18.5B | $3.3B | ||
| Q4 24 | $19.4B | $3.4B | ||
| Q3 24 | $19.4B | $3.4B | ||
| Q2 24 | $20.2B | $1.8B | ||
| Q1 24 | $15.0B | $1.8B |
| Q4 25 | 0.70× | 0.25× | ||
| Q3 25 | 0.72× | 0.24× | ||
| Q2 25 | 0.73× | 0.24× | ||
| Q1 25 | 0.96× | 0.24× | ||
| Q4 24 | 1.13× | 0.22× | ||
| Q3 24 | 1.25× | 0.21× | ||
| Q2 24 | 1.24× | 0.64× | ||
| Q1 24 | 1.99× | 0.60× |
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 | $7.0M |
| Free Cash FlowOCF − Capex | — | $-9.0M |
| FCF MarginFCF / Revenue | — | -0.6% |
| Capex IntensityCapex / Revenue | — | 1.1% |
| Cash ConversionOCF / Net Profit | 2.44× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $808.0M | $7.0M | ||
| Q3 25 | $1.5B | $23.0M | ||
| Q2 25 | $1.2B | $23.0M | ||
| Q1 25 | $1.1B | $-2.0M | ||
| Q4 24 | $1.0B | $-7.0M | ||
| Q3 24 | $1.3B | $-7.0M | ||
| Q2 24 | $877.0M | $-5.0M | ||
| Q1 24 | $368.0M | $7.0M |
| Q4 25 | — | $-9.0M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $9.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | — | $-19.0M | ||
| Q3 24 | — | $-18.0M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | — | $-4.0M |
| Q4 25 | — | -0.6% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -1.7% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | — | -0.4% |
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.2% |
| Q4 25 | 2.44× | — | ||
| Q3 25 | 7.12× | — | ||
| Q2 25 | 1.96× | — | ||
| Q1 25 | 2.62× | — | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 1.74× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
