Recent News
On February 12, 2026 YPF signed a binding joint-development agreement with Eni and XRG to advance the Argentina LNG project. On February 27, 2026 the company announced a record-capex plan of $6.0 billion for 2026 with a primary focus on Vaca Muerta shale development. On March 26, 2026 YPF filed its Form 20‑F for the fiscal year ended December 31, 2025. On March 27, 2026 a U.S. appeals court overturned the prior $16+ billion judgment related to the 2012 expropriation of YPF.
Technical Analysis
ADX at 15.76 indicates no prevailing trend; directional conviction remains low, reducing the probability of a sustained breakout while the stock digests recent news-driven flows.
DI+ of 24.78 with a decreasing trend and DI‑ of 24.31 with an increasing trend together signal bearish directional pressure; directional indicators currently favor sellers over buyers for the near term.
MACD sits at 0.44 and trends decreasing, remaining below its signal line at 0.63; that configuration indicates waning bullish momentum and a bearish MACD alignment until a clear cross above the signal line occurs.
MRO reads 22.96 and trends decreasing; the positive MRO implies price sits above the computed target and faces downside potential, though the declining MRO reduces the immediacy of that pressure.
RSI at 54.66 with a decreasing trend reflects neutral-to-weak momentum consistent with recent momentum indicators; the index no longer confirms strong upside conviction.
Short-term averages show price interacting with near-term resistance: the 12‑day EMA registered a peak & reversal, the 20‑day average sits at $43.51 above the close of $42.37, and the 50‑day average at $41.52 offers nearby support. Price sits near the lower edge of the 1x Bollinger band, implying short-term downside vulnerability inside a longer sideways band.
Fundamental Analysis
Revenue totaled $4,544,000,000 with reported revenue growth of -2.13% (overall) and a reported year-over-year change of -79.09% for the metric labeled revenue growth YoY; operating cash flow reached $1,738,000,000 while net income landed at -$654,000,000, reflecting continued net loss despite positive operating cash generation.
EBIT measured $606,000,000 and EBITDA $1,380,000,000, producing an EBIT margin of 13.34%, roughly in line with the industry peer mean of 13.41%; the EBIT margin improved 3.89% quarter-over-quarter but shows a reported year-over-year change of -324.97% for the supplied YoY figure.
EPS came in at $0.97 versus an estimate of $0.88, an EPS surprise of 10.23%, while forward EPS stands at $1.3976 with a forward P/E of 25.55 reflecting consensus forward earnings power versus a trailing negative P/E of -21.75 driven by the net loss.
Leverage metrics remain elevated: total debt of $11,152,000,000 and net debt of $9,648,000,000 produce debt-to-equity of 1.03x and debt-to-EBITDA of 8.08x; the interest coverage ratio sits at 2.85x, below the industry peer mean of 5.77x, indicating tighter coverage of interest obligations compared with peers.
Liquidity shows mixed signals: cash plus short-term investments total $1,195,000,000, current ratio equals 0.87 and quick ratio 0.676, both below the industry peer means; however operating cash flow and free cash flow of $318,000,000 provide active cash generation—free cash flow yield at 2.23% exceeds the industry peer mean of 1.48%.
Valuation context: enterprise value stands at $24.209 billion vs market cap of $14.252 billion, yielding an enterprise multiple of 17.54 and an EV/revenue near 5.33. WMDST values the stock as under-valued; the valuation reflects positive cash generation, project optionality from Argentina LNG and Vaca Muerta, and legal risk reduction from the recent appellate decision, balanced against elevated leverage and a current net loss.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 799.0 M |
| Operating Cash Flow | $ 1.7 B | |
| Capital Expenditures | $ -1.42 B | |
| Change In Working Capital | $ -88.00 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 134.0 M | |
| End Period Cash Flow | $ 933.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 4.5 B | |
| Forward Revenue | $ -952.60 M | |
| COSTS | ||
| Cost Of Revenue | $ 3.2 B | |
| Depreciation | $ 757.0 M | |
| Depreciation and Amortization | $ 774.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 4.1 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.3 B | |
| EBITDA | $ 1.4 B | |
| EBIT | $ 606.0 M | |
| Operating Income | $ 449.0 M | |
| Interest Income | $ 25.0 M | |
| Interest Expense | $ 213.0 M | |
| Net Interest Income | $ -249.00 M | |
| Income Before Tax | $ 393.0 M | |
| Tax Provision | $ 1.0 B | |
| Tax Rate | 35.0 % | |
| Net Income | $ -654.00 M | |
| Net Income From Continuing Operations | $ -649.00 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.88 | |
| EPS Actual | $ 0.97 | |
| EPS Difference | $ 0.09 | |
| EPS Surprise | 10.227 % | |
| Forward EPS | $ 1.40 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 29.4 B | |
| Intangible Assets | $ 432.0 M | |
| Net Tangible Assets | $ 10.4 B | |
| Total Current Assets | $ 6.5 B | |
| Cash and Short-Term Investments | $ 1.2 B | |
| Cash | $ 933.0 M | |
| Net Receivables | $ 2.2 B | |
| Inventory | $ 1.4 B | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 2.2 B | |
| Short-Term Debt | $ 2.4 B | |
| Total Current Liabilities | $ 7.4 B | |
| Net Debt | $ 9.6 B | |
| Total Debt | $ 11.2 B | |
| Total Liabilities | $ 18.4 B | |
| EQUITY | ||
| Total Equity | $ 10.8 B | |
| Retained Earnings | $ -756.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 27.56 | |
| Shares Outstanding | 392.411 M | |
| Revenue Per-Share | $ 11.58 | |
| VALUATION | Market Capitalization | $ 14.3 B |
| Enterprise Value | $ 24.2 B | |
| Enterprise Multiple | 17.542 | |
| Enterprise Multiple QoQ | -52.498 % | |
| Enterprise Multiple YoY | -127.534 % | |
| Enterprise Multiple IPRWA | high: 61.169 median: 31.753 mean: 24.419 YPF: 17.542 low: -72.641 |
|
| EV/R | 5.328 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.722 | |
| Asset To Liability | 1.6 | |
| Debt To Capital | 0.508 | |
| Debt To Assets | 0.379 | |
| Debt To Assets QoQ | -0.308 % | |
| Debt To Assets YoY | 493.483 % | |
| Debt To Assets IPRWA | high: 0.65 YPF: 0.379 mean: 0.235 median: 0.206 low: 0.006 |
|
| Debt To Equity | 1.031 | |
| Debt To Equity QoQ | 4.668 % | |
| Debt To Equity YoY | 540.534 % | |
| Debt To Equity IPRWA | high: 2.421 YPF: 1.031 mean: 0.761 median: 0.493 low: 0.008 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.318 | |
| Price To Book QoQ | 27.471 % | |
| Price To Book YoY | 6.542 % | |
| Price To Book IPRWA | high: 4.744 median: 1.82 mean: 1.574 YPF: 1.318 low: -1.67 |
|
| Price To Earnings (P/E) | -21.747 | |
| Price To Earnings QoQ | -55.022 % | |
| Price To Earnings YoY | -56.091 % | |
| Price To Earnings IPRWA | high: 140.369 mean: 64.498 median: 59.98 YPF: -21.747 low: -120.105 |
|
| PE/G Ratio | -0.128 | |
| Price To Sales (P/S) | 3.136 | |
| Price To Sales QoQ | 23.509 % | |
| Price To Sales YoY | 3.514 % | |
| Price To Sales IPRWA | high: 39.166 mean: 6.504 median: 6.404 YPF: 3.136 low: -2.28 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 25.55 | |
| Forward PE/G | 0.151 | |
| Forward P/S | -15.634 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -0.787 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.154 | |
| Asset Turnover Ratio QoQ | -2.839 % | |
| Asset Turnover Ratio YoY | -5.868 % | |
| Asset Turnover Ratio IPRWA | high: 0.548 median: 0.17 mean: 0.158 YPF: 0.154 low: -0.206 |
|
| Receivables Turnover | 2.208 | |
| Receivables Turnover Ratio QoQ | -11.524 % | |
| Receivables Turnover Ratio YoY | -58.574 % | |
| Receivables Turnover Ratio IPRWA | high: 5.614 mean: 2.242 YPF: 2.208 median: 2.011 low: 0.195 |
|
| Inventory Turnover | 2.172 | |
| Inventory Turnover Ratio QoQ | -1.476 % | |
| Inventory Turnover Ratio YoY | -5.768 % | |
| Inventory Turnover Ratio IPRWA | high: 18.206 mean: 2.855 median: 2.393 YPF: 2.172 low: 0.238 |
|
| Days Sales Outstanding (DSO) | 41.328 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 19.677 | |
| Cash Conversion Cycle Days QoQ | 90.205 % | |
| Cash Conversion Cycle Days YoY | -243.824 % | |
| Cash Conversion Cycle Days IPRWA | high: 120.172 YPF: 19.677 median: 8.094 mean: 3.499 low: -122.473 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -4.704 | |
| CapEx To Revenue | -0.312 | |
| CapEx To Depreciation | -1.876 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 19.0 B | |
| Net Invested Capital | $ 21.4 B | |
| Invested Capital | $ 21.4 B | |
| Net Tangible Assets | $ 10.4 B | |
| Net Working Capital | $ -966.00 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.161 | |
| Current Ratio | 0.87 | |
| Current Ratio QoQ | 16.505 % | |
| Current Ratio YoY | 11.144 % | |
| Current Ratio IPRWA | high: 8.027 mean: 1.268 median: 1.263 YPF: 0.87 low: 0.33 |
|
| Quick Ratio | 0.676 | |
| Quick Ratio QoQ | 24.441 % | |
| Quick Ratio YoY | 11.745 % | |
| Quick Ratio IPRWA | high: 4.979 mean: 0.991 median: 0.984 YPF: 0.676 low: 0.398 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.081 | |
| Cost Of Debt | 1.533 % | |
| Interest Coverage Ratio | 2.845 | |
| Interest Coverage Ratio QoQ | 22.682 % | |
| Interest Coverage Ratio YoY | -329.018 % | |
| Interest Coverage Ratio IPRWA | high: 28.951 mean: 5.769 median: 3.669 YPF: 2.845 low: -29.945 |
|
| Operating Cash Flow Ratio | -0.027 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 62.561 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.44 % | |
| Revenue Growth | -2.132 % | |
| Revenue Growth QoQ | -5058.14 % | |
| Revenue Growth YoY | -79.086 % | |
| Revenue Growth IPRWA | high: 53.032 % mean: -2.081 % YPF: -2.132 % median: -3.422 % low: -63.186 % |
|
| Earnings Growth | 169.355 % | |
| Earnings Growth QoQ | -129.355 % | |
| Earnings Growth YoY | -241.444 % | |
| Earnings Growth IPRWA | high: 462.5 % YPF: 169.355 % mean: -3.246 % median: -25.676 % low: -194.231 % |
|
| MARGINS | ||
| Gross Margin | 28.873 % | |
| Gross Margin QoQ | 1.252 % | |
| Gross Margin YoY | 37.21 % | |
| Gross Margin IPRWA | high: 69.391 % YPF: 28.873 % mean: 22.501 % median: 19.958 % low: -22.31 % |
|
| EBIT Margin | 13.336 % | |
| EBIT Margin QoQ | 3.887 % | |
| EBIT Margin YoY | -324.966 % | |
| EBIT Margin IPRWA | high: 95.267 % mean: 13.413 % YPF: 13.336 % median: 10.833 % low: -104.008 % |
|
| Return On Sales (ROS) | 9.881 % | |
| Return On Sales QoQ | -17.638 % | |
| Return On Sales YoY | -266.684 % | |
| Return On Sales IPRWA | high: 95.267 % mean: 11.543 % YPF: 9.881 % median: 7.5 % low: -56.401 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 318.0 M | |
| Free Cash Flow Yield | 2.231 % | |
| Free Cash Flow Yield QoQ | -78.527 % | |
| Free Cash Flow Yield YoY | -100.194 % | |
| Free Cash Flow Yield IPRWA | high: 9.376 % YPF: 2.231 % mean: 1.48 % median: 1.02 % low: -9.877 % |
|
| Free Cash Growth | 312.987 % | |
| Free Cash Growth QoQ | -135.757 % | |
| Free Cash Growth YoY | -256.73 % | |
| Free Cash Growth IPRWA | YPF: 312.987 % high: 241.448 % median: -13.727 % mean: -16.354 % low: -255.102 % |
|
| Free Cash To Net Income | -0.486 | |
| Cash Flow Margin | -4.423 % | |
| Cash Flow To Earnings | 0.307 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -2.217 % | |
| Return On Assets QoQ | 215.363 % | |
| Return On Assets YoY | 122.367 % | |
| Return On Assets IPRWA | high: 9.669 % median: 1.04 % mean: 0.863 % YPF: -2.217 % low: -7.748 % |
|
| Return On Capital Employed (ROCE) | 2.755 % | |
| Return On Equity (ROE) | -0.06 | |
| Return On Equity QoQ | 234.884 % | |
| Return On Equity YoY | 142.989 % | |
| Return On Equity IPRWA | high: 0.14 median: 0.025 mean: 0.015 YPF: -0.06 low: -0.197 |
|
| DuPont ROE | -5.885 % | |
| Return On Invested Capital (ROIC) | 1.841 % | |
| Return On Invested Capital QoQ | -49.575 % | |
| Return On Invested Capital YoY | -103.696 % | |
| Return On Invested Capital IPRWA | high: 14.758 % median: 2.236 % mean: 2.015 % YPF: 1.841 % low: -11.925 % |
|