Detailed financial statements for YPF Sociedad Anónima (YPF): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.

YPF Sociedad Anónima stands as an Argentine energy corporation, actively involved in both the upstream and downstream segments of the oil and gas industry within the country. The company's upstream division is dedicated to the exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs).

Analysis Summary

YPF Sociedad Anónima reported revenue of 26.53T ARS in the most recent fiscal year, growing at a 5-year CAGR of 406.8%.

Trailing-twelve-month margins: gross margin 30.0%, operating margin 13.9%, net margin -3.1%.

At the current price of $51.24, YPF trades at a P/E of 28.44 and an ROE of -3.77%. Market capitalisation stands at $20.1B, placing it among large-cap names.

Balance sheet quality for YPF: current ratio of 0.9, net debt of 14.45T ARS. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.

Income Statement (10y)

Year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	13.23B ARS	13.74B ARS	21.50B ARS	15.95B ARS	7.93B ARS	1.27T ARS	2.53T ARS	5.48T ARS	17.90T ARS	26.53T ARS
Cost of Revenue	11.09B ARS	11.44B ARS	17.64B ARS	13.41B ARS	7.12B ARS	1.03T ARS	1.88T ARS	4.52T ARS	12.95T ARS	19.37T ARS
Gross Profit	2.14B ARS	2.30B ARS	3.86B ARS	2.54B ARS	809.5M ARS	243.15B ARS	650.78B ARS	969.46B ARS	4.94T ARS	7.16T ARS
Research & Development	25.2M ARS	24.4M ARS	76.4M ARS	29.6M ARS	24.4M ARS	0	4.79B ARS	18.40B ARS	40.88B ARS	32.2M ARS
Selling, General & Admin	81.3M ARS	71.1M ARS	39.2M ARS	19.9M ARS	10.1M ARS	147.87B ARS	1.33B ARS	1.06T ARS	1.64T ARS	2.31T ARS
Operating Expenses	3.66B ARS	1.43B ARS	1.70B ARS	3.04B ARS	1.48B ARS	184.98B ARS	353.17B ARS	2.44T ARS	3.79T ARS	4.80T ARS
Operating Income	494.3M ARS	716.0M ARS	2.16B ARS	-493.8M ARS	-668.9M ARS	58.17B ARS	297.62B ARS	-1.47T ARS	1.87T ARS	2.37T ARS
EBITDA	3.52B ARS	3.61B ARS	5.81B ARS	4.00B ARS	1.23B ARS	162.45B ARS	631.62B ARS	1.08T ARS	3.90T ARS	7.32T ARS
Interest Expense	1.43B ARS	1.11B ARS	1.92B ARS	1.03B ARS	1.12B ARS	71.87B ARS	172.20B ARS	916.09B ARS	807.87B ARS	1.36T ARS
Pre-tax Income	-2.02B ARS	525.6M ARS	4.45B ARS	-164.8M ARS	-646.4M ARS	90.58B ARS	399.18B ARS	-879.30B ARS	934.59B ARS	1.32T ARS
Income Tax	-96.4M ARS	-239.7M ARS	2.54B ARS	619.7M ARS	167.1M ARS	64.41B ARS	108.91B ARS	653.45B ARS	-1.45T ARS	2.48T ARS
Net Income	-1.78B ARS	670.8M ARS	1.90B ARS	-800.7M ARS	-797.8M ARS	257.0M ARS	289.06B ARS	-1.56T ARS	2.08T ARS	-1.20T ARS
EPS	$-0.28	$0.09	$0.13	$-0.03	$-0.03	$0.65	$736.04	$-2,403.42	$5,298.50	$-3,061.61
EPS (Diluted)	$-0.28	$0.09	$0.13	$-0.03	$-0.03	$0.65	$736.04	$-2,403.42	$5,298.50	$-3,061.61
Shares Outstanding (Diluted)	391.5M ARS	392.6M ARS	392.3M ARS	392.3M ARS	392.5M ARS	392.8M ARS	392.7M ARS	391.7M ARS	392.1M ARS	392.0M ARS

Income Statement (Quarterly)

Year	2025-Q3	2025-Q4	2026-Q1	2026-Q2
Revenue	6.63T ARS	6.59T ARS	6.96T ARS	9.17T ARS
Gross Profit	1.89T ARS	1.90T ARS	2.48T ARS	4.17T ARS
Operating Income	795.11B ARS	651.50B ARS	1.24T ARS	2.98T ARS
EBITDA	2.04T ARS	2.00T ARS	2.27T ARS	4.23T ARS
Net Income	-294.06B ARS	-948.95B ARS	606.29B ARS	1.67T ARS
EPS	$-756.57	$-2,423.17	$1,546.33	$4,322.95
EPS (Diluted)	$-756.57	$-2,423.17	$1,546.33	$4,322.95

Balance Sheet (10y)

Year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Cash & Equivalents	677.4M ARS	1.56B ARS	2.27B ARS	1.55B ARS	625.6M ARS	590.5M ARS	136.87B ARS	805.85B ARS	1.15T ARS	1.35T ARS
Short-term Investments	475.3M ARS	703.2M ARS	539.8M ARS	196.7M ARS	331.4M ARS	480.6M ARS	56.49B ARS	189.44B ARS	401.70B ARS	380.16B ARS
Receivables	2.79B ARS	2.74B ARS	4.34B ARS	3.32B ARS	1.50B ARS	1.64B ARS	373.12B ARS	885.50B ARS	2.15T ARS	3.88T ARS
Inventory	85.5M ARS	76.8M ARS	2.63B ARS	1.89B ARS	13.6M ARS	14.1M ARS	1.74B ARS	1.21T ARS	1.59T ARS	2.10T ARS
Total Current Assets	5.49B ARS	6.65B ARS	10.28B ARS	7.27B ARS	3.75B ARS	4.39B ARS	910.71B ARS	3.18T ARS	7.00T ARS	9.40T ARS
Property, Plant & Equipment	19.40B ARS	19.27B ARS	34.49B ARS	26.57B ARS	16.31B ARS	15.97B ARS	3.20T ARS	13.24T ARS	20.18T ARS	29.39T ARS
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	511.0M ARS	542.3M ARS	20.40B ARS	873.8M ARS	448.1M ARS	405.3M ARS	68.05B ARS	184.42B ARS	392.43B ARS	626.83B ARS
Total Assets	26.52B ARS	27.49B ARS	49.04B ARS	36.98B ARS	22.03B ARS	22.52B ARS	4.59T ARS	17.96T ARS	30.27T ARS	42.72T ARS
Accounts Payable	159.5M ARS	44.66B ARS	4.02B ARS	57.3M ARS	18.6M ARS	17.7M ARS	2.50B ARS	1.64T ARS	2.90T ARS	3.15T ARS
Short-term Debt	105.0M ARS	2.05B ARS	1.72B ARS	2.52B ARS	1.73B ARS	816.7M ARS	201.81B ARS	1.08T ARS	1.93T ARS	3.42T ARS
Total Current Liabilities	5.19B ARS	5.58B ARS	8.83B ARS	7.40B ARS	4.25B ARS	3.68B ARS	846.90B ARS	3.53T ARS	8.94T ARS	10.80T ARS
Long-term Debt	8.03B ARS	8.25B ARS	7.18B ARS	9.86B ARS	6.04B ARS	6.32B ARS	1.05T ARS	4.79T ARS	7.25T ARS	11.94T ARS
Total Liabilities	19.05B ARS	19.20B ARS	31.16B ARS	24.09B ARS	14.20B ARS	14.53B ARS	2.72T ARS	11.47T ARS	18.05T ARS	26.69T ARS
Retained Earnings	-1.65B ARS	0	0	0	4.03B ARS	-529.6M ARS	843.51B ARS	3.19T ARS	7.36T ARS	9.16T ARS
Total Equity	7.48B ARS	8.28B ARS	17.72B ARS	12.75B ARS	7.76B ARS	7.91B ARS	1.85T ARS	6.42T ARS	12.00T ARS	15.69T ARS
Total Debt	9.72B ARS	191.06B ARS	8.90B ARS	13.83B ARS	8.30B ARS	7.66B ARS	1.36T ARS	6.35T ARS	9.98T ARS	16.18T ARS
Net Debt	8.57B ARS	188.80B ARS	6.09B ARS	12.08B ARS	7.34B ARS	6.59B ARS	1.16T ARS	5.36T ARS	8.42T ARS	14.45T ARS
Working Capital	299.8M ARS	1.06B ARS	1.45B ARS	-128.1M ARS	-493.7M ARS	708.2M ARS	63.80B ARS	-348.75B ARS	-1.94T ARS	-1.40T ARS

Balance Sheet (Quarterly)

Year	2025-Q3	2025-Q4	2026-Q1	2026-Q2
Cash & Equivalents	1.14T ARS	1.35T ARS	1.84T ARS	1.97T ARS
Total Assets	42.21T ARS	42.72T ARS	42.20T ARS	48.39T ARS
Total Liabilities	25.60T ARS	26.69T ARS	26.03T ARS	29.27T ARS
Total Equity	16.29T ARS	15.69T ARS	15.80T ARS	18.65T ARS
Total Debt	16.04T ARS	16.18T ARS	14.95T ARS	16.19T ARS

Cash Flow (10y)

Year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Net Income	-1.79B ARS	688.8M ARS	1.90B ARS	-784.5M ARS	-813.5M ARS	16.0M ARS	2.23B ARS	-1.28B ARS	2.39B ARS	-1.16T ARS
Depreciation & Amortization	2.86B ARS	2.95B ARS	4.41B ARS	3.73B ARS	2.21B ARS	3.07B ARS	2.81B ARS	3.27B ARS	2.76B ARS	4.65T ARS
Stock-based Compensation	9.6M ARS	8.8M ARS	15.2M ARS	11.6M ARS	80,185 ARS	6.0M ARS	8.0M ARS	3.0M ARS	7.0M ARS	21.77B ARS
Change in Working Capital	-811.9M ARS	-51.4M ARS	-664.8M ARS	277.4M ARS	553.0M ARS	-664.0M ARS	-126.0M ARS	317.0M ARS	14.0M ARS	-2.06T ARS
Operating Cash Flow	3.10B ARS	3.91B ARS	6.17B ARS	5.10B ARS	2.40B ARS	4.20B ARS	5.69B ARS	5.91B ARS	5.87B ARS	7.20T ARS
Capital Expenditure	-4.04B ARS	-3.24B ARS	-4.36B ARS	-3.79B ARS	-1.31B ARS	-2.45B ARS	-4.01B ARS	-5.67B ARS	-5.39B ARS	-7.37T ARS
Acquisitions	-28.2M ARS	0	-127.6M ARS	-113.4M ARS	206,190 ARS	0	-2.0M ARS	-5.0M ARS	137.00B ARS	-1.24T ARS
Stock Repurchased	-196,140 ARS	-282,715 ARS	-157,038 ARS	-109,869 ARS	-68,730 ARS	0	-28.0M ARS	0	0	-14.51B ARS
Dividends Paid	-56.0M ARS	-38.9M ARS	-42.7M ARS	-902,499 ARS	0	0	0	0	0	0
Free Cash Flow	-943.2M ARS	671.6M ARS	1.81B ARS	1.31B ARS	1.08B ARS	1.75B ARS	1.69B ARS	240.0M ARS	477.0M ARS	-171.22B ARS

Cash Flow (Quarterly)

Year	2025-Q3	2025-Q4	2026-Q1	2026-Q2
Operating Cash Flow	1.23B ARS	2.52T ARS	1.86B ARS	2.37B ARS
Capital Expenditure	-1.15B ARS	-2.06T ARS	-1.09B ARS	-1.13B ARS
Free Cash Flow	77.0M ARS	461.42B ARS	775.0M ARS	1.25B ARS
Dividends Paid	0	0	0	0
Stock-based Compensation	4.0M ARS	8.71B ARS	3.0M ARS	4.0M ARS

Growth & Margins (10y)

Year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue Growth (YoY)		+3.9%	+56.5%	-25.8%	-50.3%	+15,926.4%	+98.7%	+117.1%	+226.3%	+48.3%
Net Income Growth (YoY)		+137.7%	+184.0%	-142.0%	+0.4%	+132.2%	+112,373.5%	-640.1%	+233.1%	-157.7%
EPS Growth (YoY)		+131.6%	+46.7%	-126.2%	+14.1%	+2,318.4%	+113,136.9%	-426.5%	+320.5%	-157.8%
Shares Change (YoY)		+0.3%	-0.1%	+0.0%	+0.1%	+0.1%	-0.0%	-0.3%	+0.1%	-0.0%
FCF Growth (YoY)		+171.2%	+170.1%	-27.9%	-17.2%	+61.8%	-3.8%	-85.8%	+98.8%	-35,994.8%
Gross Margin	16.2%	16.7%	18.0%	15.9%	10.2%	19.1%	25.8%	17.7%	27.6%	27.0%
Operating Margin	3.7%	5.2%	10.0%	-3.1%	-8.4%	4.6%	11.8%	-26.8%	10.4%	8.9%
EBITDA Margin	26.6%	26.3%	27.0%	25.1%	15.5%	12.8%	25.0%	19.7%	21.8%	27.6%
Net Margin	-13.4%	4.9%	8.9%	-5.0%	-10.1%	0.0%	11.4%	-28.5%	11.6%	-4.5%
FCF Margin	-7.1%	4.9%	8.4%	8.2%	13.7%	0.1%	0.1%	0.0%	0.0%	-0.6%
Effective Tax Rate	4.8%	-45.6%	57.2%	-376.2%	-25.9%	71.1%	27.3%	-74.3%	-155.5%	187.8%

Per-Share Data (10y)

Year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FCF Per Share	$-2.41	$1.71	$4.62	$3.34	$2.76	$4.46	$4.30	$0.61	$1.22	$-436.83
Dividends Per Share	$0.14	$0.10	$0.11	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Shares Outstanding (Basic)	391.5M ARS	392.6M ARS	392.3M ARS	392.3M ARS	392.5M ARS	392.8M ARS	392.7M ARS	391.7M ARS	392.1M ARS	392.0M ARS

What to look at in Energy companies

FCF yield (>8%) — Cash generated / market cap. In energy FCF beats EPS.
ROIC 5y avg (>=10%) — Include good and bad years to filter the truly disciplined.
Positive FCF in 8 of last 10y (>=8/10) — Disciplined names (XOM, CVX, EOG) survive 2014-16 and 2020 crashes.
Dividend coverage (FCF / div) (>=1.2x) — Dividend covered by FCF, not borrowed. <1x = likely cut.
Net Debt / EBITDA (<2x at peak) — Look at it with trough EBITDA, not the peak.
Capex / Revenue (10-20% healthy) — Energy needs aggressive reinvestment to maintain reserves.

Profitability

Return on Equity	-3.77%
Return on Invested Capital	-2.13%
Return on Assets	-1.31%
Gross Margin	30.02%
Operating Margin	13.87%
Net Margin	-3.14%

Financial Health

Debt / Equity	0.86
Current Ratio	0.93
Piotroski F-Score	5
Altman Z-Score	1.06

Key Ratios (10y)

Year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
P/E	-58.93	266.82	103.00	-339.59	-160.41	5.88	0.01	-0.01	0.01	-0.01
P/B	0.86	1.12	0.30	0.36	0.24	0.19	0.00	0.00	0.00	0.00
P/S	0.49	0.68	0.24	0.28	0.23	0.00	0.00	0.00	0.00	0.00
Gross Margin	16.2%	16.7%	18.0%	15.9%	10.2%	19.1%	25.8%	17.7%	27.6%	27.0%
Operating Margin	3.7%	5.2%	10.0%	-3.1%	-8.4%	4.6%	11.8%	-26.8%	10.4%	8.9%
Net Margin	-13.4%	4.9%	8.9%	-5.0%	-10.1%	0.0%	11.4%	-28.5%	11.6%	-4.5%

Related companies: AR · DTM · EC · FTI · NXT · OVV

Explore sector: Energy · Oil & Gas Integrated

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