Recent News
On June 4, 2026 YPF approved an AR$38.468 billion share buyback program to fund share‑based compensation, with purchases allowed over a 90‑day window; the board previously approved a dedicated reserve at the April 30 shareholders’ meeting. The company completed purchases of Class XXX notes between June 8–12, 2026, reducing near‑term par outstanding. In early May YPF closed a transaction to increase its stake in three Vaca Muerta blocks from Vista Energy; separate industry reports note a sharp May production lift at the Aguada de la Arena block and ongoing filings for an Argentina LNG project involving YPF and partners.
Technical Analysis
Directional indicators: ADX at 26.83 signals a measurable trend strength; DI+ at 21.89 trending down while DI‑ at 28.29 trending up points to directional pressure favoring sellers over the near term.
MACD sits at -0.41 and trends lower with the MACD below its signal line (0.78), indicating falling momentum and no bullish MACD crossover at present.
MRO registers 19.32 and is declining; the positive MRO number indicates price currently sits above the model target and suggests downside potential as momentum normalizes toward the target.
RSI at 56.25 with a declining trajectory shows fading buying conviction from short‑term highs, implying limited immediate upside without renewed volume or momentum.
Price vs moving averages: the close at $45.25 remains above the 200‑day average ($38.32) but below the 20‑day average ($50.34) and the 12‑day EMA ($48.50), a configuration that favors consolidation or a pullback before any sustained recovery.
Bollinger band position places the price inside the bands (lower 1x = $45.95, upper 1x = $54.72), suggesting volatility compression but room to move in either direction; 42‑ and 52‑week betas (0.17 / 0.36) indicate muted market sensitivity relative to peers.
Fundamental Analysis
Profitability: gross margin stands at 35.51% and operating margin at 17.66%; EBIT reached $897 million, yielding an EBIT margin of 18.15%, which sits above the industry peer mean (16.92%) and median (15.50%). QoQ performance shows a marked improvement in EBIT margin (+36.08% QoQ) and a very strong YoY expansion (+176.88% YoY), supporting the view of recent operational leverage.
Cash generation looks robust: operating cash flow totaled $1.865 billion and free cash flow reached $775 million, producing a free cash flow yield of 4.81%, which exceeds the industry peer mean of roughly 0.86%. Cash flow to earnings of 1.92x and a cash flow margin of 31.05% underline conversion strength that underpins the company’s balance between investment and returns.
Leverage and coverage: total debt equals $10.757 billion and net debt approximates $8.791 billion; debt to EBITDA runs near 6.56x while interest coverage stands at 3.66x. Debt metrics remain elevated versus standard comfort bands and represent the most material constraint on near‑term credit flexibility.
Liquidity and working capital: current ratio 0.94 and quick ratio 0.73 remain below the industry peer mean current ratio (~1.19), indicating tighter short‑term liquidity. Net working capital sits negative at -$450 million, reflecting seasonal or structural timing differences between payables and receivables.
Valuation context: trailing PE at 42.33 contrasts with forward PE near 22.39; price/sales at 3.26 and price target mean consensus of $61.98 (range $28.82–$95.09) show market divergence between near‑term multiples and forward expectations. WMDST values the stock as under‑valued, a view grounded in above‑average cash conversion and free cash flow yield relative to the industry peer mean.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 933.0 M |
| Operating Cash Flow | $ 1.9 B | |
| Capital Expenditures | $ -1.09 B | |
| Change In Working Capital | $ 161.0 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 393.0 M | |
| End Period Cash Flow | $ 1.3 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 4.9 B | |
| Forward Revenue | $ 1.7 B | |
| COSTS | ||
| Cost Of Revenue | $ 3.2 B | |
| Depreciation | $ 726.0 M | |
| Depreciation and Amortization | $ 743.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 4.1 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.8 B | |
| EBITDA | $ 1.6 B | |
| EBIT | $ 897.0 M | |
| Operating Income | $ 873.0 M | |
| Interest Income | $ 27.0 M | |
| Interest Expense | $ 245.0 M | |
| Net Interest Income | $ -293.00 M | |
| Income Before Tax | $ 652.0 M | |
| Tax Provision | $ 243.0 M | |
| Tax Rate | 37.27 % | |
| Net Income | $ 404.0 M | |
| Net Income From Continuing Operations | $ 409.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.92 | |
| EPS Actual | $ 0.97 | |
| EPS Difference | $ 0.05 | |
| EPS Surprise | 5.435 % | |
| Forward EPS | $ 1.39 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 30.4 B | |
| Intangible Assets | $ 437.0 M | |
| Net Tangible Assets | $ 10.9 B | |
| Total Current Assets | $ 6.7 B | |
| Cash and Short-Term Investments | $ 1.7 B | |
| Cash | $ 1.3 B | |
| Net Receivables | $ 1.9 B | |
| Inventory | $ 1.5 B | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 2.3 B | |
| Short-Term Debt | $ 1.6 B | |
| Total Current Liabilities | $ 7.2 B | |
| Net Debt | $ 8.8 B | |
| Total Debt | $ 10.8 B | |
| Total Liabilities | $ 18.7 B | |
| EQUITY | ||
| Total Equity | $ 11.4 B | |
| Retained Earnings | $ -352.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 28.96 | |
| Shares Outstanding | 392.411 M | |
| Revenue Per-Share | $ 12.60 | |
| VALUATION | Market Capitalization | $ 16.1 B |
| Enterprise Value | $ 25.2 B | |
| Enterprise Multiple | 15.352 | |
| Enterprise Multiple QoQ | -12.484 % | |
| Enterprise Multiple YoY | -79.116 % | |
| Enterprise Multiple IPRWA | high: 104.904 median: 40.509 mean: 36.116 YPF: 15.352 low: -85.14 |
|
| EV/R | 5.094 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.671 | |
| Asset To Liability | 1.621 | |
| Debt To Capital | 0.486 | |
| Debt To Assets | 0.354 | |
| Debt To Assets QoQ | -6.462 % | |
| Debt To Assets YoY | 2.63 % | |
| Debt To Assets IPRWA | high: 0.622 YPF: 0.354 mean: 0.204 median: 0.199 low: 0.006 |
|
| Debt To Equity | 0.946 | |
| Debt To Equity QoQ | -8.227 % | |
| Debt To Equity YoY | 7.843 % | |
| Debt To Equity IPRWA | high: 2.445 YPF: 0.946 mean: 0.634 median: 0.436 low: 0.008 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.418 | |
| Price To Book QoQ | 7.57 % | |
| Price To Book YoY | 25.815 % | |
| Price To Book IPRWA | high: 5.391 median: 2.267 mean: 2.118 YPF: 1.418 low: -2.11 |
|
| Price To Earnings (P/E) | 42.332 | |
| Price To Earnings QoQ | -294.658 % | |
| Price To Earnings YoY | -58.287 % | |
| Price To Earnings IPRWA | high: 132.615 mean: 64.159 YPF: 42.332 median: 35.519 low: -49.343 |
|
| PE/G Ratio | -0.268 | |
| Price To Sales (P/S) | 3.26 | |
| Price To Sales QoQ | 3.935 % | |
| Price To Sales YoY | 14.039 % | |
| Price To Sales IPRWA | high: 54.484 mean: 7.771 median: 7.465 YPF: 3.26 low: 0.049 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 22.393 | |
| Forward PE/G | -0.142 | |
| Forward P/S | 7.888 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.469 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.165 | |
| Asset Turnover Ratio QoQ | 7.35 % | |
| Asset Turnover Ratio YoY | 6.028 % | |
| Asset Turnover Ratio IPRWA | high: 0.413 median: 0.18 YPF: 0.165 mean: 0.164 low: 0.001 |
|
| Receivables Turnover | 2.437 | |
| Receivables Turnover Ratio QoQ | 10.39 % | |
| Receivables Turnover Ratio YoY | -13.544 % | |
| Receivables Turnover Ratio IPRWA | high: 5.198 YPF: 2.437 mean: 2.216 median: 1.729 low: 0.065 |
|
| Inventory Turnover | 2.193 | |
| Inventory Turnover Ratio QoQ | 0.98 % | |
| Inventory Turnover Ratio YoY | 4.198 % | |
| Inventory Turnover Ratio IPRWA | high: 17.806 mean: 2.73 median: 2.237 YPF: 2.193 low: 0.115 |
|
| Days Sales Outstanding (DSO) | 37.438 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 15.105 | |
| Cash Conversion Cycle Days QoQ | -23.233 % | |
| Cash Conversion Cycle Days YoY | 317.883 % | |
| Cash Conversion Cycle Days IPRWA | high: 141.82 YPF: 15.105 median: 9.147 mean: -0.755 low: -191.36 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -10.984 | |
| CapEx To Revenue | -0.221 | |
| CapEx To Depreciation | -1.501 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 19.9 B | |
| Net Invested Capital | $ 21.5 B | |
| Invested Capital | $ 21.5 B | |
| Net Tangible Assets | $ 10.9 B | |
| Net Working Capital | $ -450.00 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.236 | |
| Current Ratio | 0.937 | |
| Current Ratio QoQ | 7.7 % | |
| Current Ratio YoY | 18.581 % | |
| Current Ratio IPRWA | high: 11.078 median: 1.21 mean: 1.186 YPF: 0.937 low: 0.401 |
|
| Quick Ratio | 0.734 | |
| Quick Ratio QoQ | 8.544 % | |
| Quick Ratio YoY | 22.606 % | |
| Quick Ratio IPRWA | high: 5.084 mean: 0.905 median: 0.87 YPF: 0.734 low: 0.358 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 6.559 | |
| Cost Of Debt | 1.403 % | |
| Interest Coverage Ratio | 3.661 | |
| Interest Coverage Ratio QoQ | 28.686 % | |
| Interest Coverage Ratio YoY | 245.512 % | |
| Interest Coverage Ratio IPRWA | high: 31.331 mean: 11.64 median: 7.268 YPF: 3.661 low: -51.648 |
|
| Operating Cash Flow Ratio | 0.214 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 63.37 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 3.122 % | |
| Revenue Growth | 8.781 % | |
| Revenue Growth QoQ | -511.867 % | |
| Revenue Growth YoY | -380.364 % | |
| Revenue Growth IPRWA | high: 74.257 % YPF: 8.781 % median: 6.615 % mean: 6.227 % low: -53.835 % |
|
| Earnings Growth | -158.084 % | |
| Earnings Growth QoQ | -193.345 % | |
| Earnings Growth YoY | 9.329 % | |
| Earnings Growth IPRWA | high: 300.0 % median: 79.104 % mean: 55.187 % YPF: -158.084 % low: -279.592 % |
|
| MARGINS | ||
| Gross Margin | 35.505 % | |
| Gross Margin QoQ | 22.97 % | |
| Gross Margin YoY | 27.918 % | |
| Gross Margin IPRWA | high: 80.204 % YPF: 35.505 % mean: 26.555 % median: 24.168 % low: -31.917 % |
|
| EBIT Margin | 18.147 % | |
| EBIT Margin QoQ | 36.075 % | |
| EBIT Margin YoY | 176.884 % | |
| EBIT Margin IPRWA | high: 91.389 % YPF: 18.147 % mean: 16.916 % median: 15.498 % low: -194.638 % |
|
| Return On Sales (ROS) | 17.661 % | |
| Return On Sales QoQ | 78.737 % | |
| Return On Sales YoY | 169.469 % | |
| Return On Sales IPRWA | high: 91.389 % YPF: 17.661 % mean: 15.783 % median: 14.874 % low: -40.585 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 775.0 M | |
| Free Cash Flow Yield | 4.81 % | |
| Free Cash Flow Yield QoQ | 115.598 % | |
| Free Cash Flow Yield YoY | -278.479 % | |
| Free Cash Flow Yield IPRWA | high: 11.076 % YPF: 4.81 % mean: 0.857 % median: 0.36 % low: -13.55 % |
|
| Free Cash Growth | 143.711 % | |
| Free Cash Growth QoQ | -54.084 % | |
| Free Cash Growth YoY | -164.614 % | |
| Free Cash Growth IPRWA | high: 379.182 % YPF: 143.711 % median: -57.258 % mean: -71.966 % low: -590.685 % |
|
| Free Cash To Net Income | 1.918 | |
| Cash Flow Margin | 31.054 % | |
| Cash Flow To Earnings | 3.8 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.351 % | |
| Return On Assets QoQ | -160.938 % | |
| Return On Assets YoY | -2601.852 % | |
| Return On Assets IPRWA | high: 10.33 % YPF: 1.351 % mean: 1.342 % median: 1.324 % low: -16.545 % |
|
| Return On Capital Employed (ROCE) | 3.868 % | |
| Return On Equity (ROE) | 0.036 | |
| Return On Equity QoQ | -158.763 % | |
| Return On Equity YoY | -2694.161 % | |
| Return On Equity IPRWA | high: 0.13 mean: 0.038 YPF: 0.036 median: 0.033 low: -0.293 |
|
| DuPont ROE | 3.643 % | |
| Return On Invested Capital (ROIC) | 2.619 % | |
| Return On Invested Capital QoQ | 42.26 % | |
| Return On Invested Capital YoY | 27.632 % | |
| Return On Invested Capital IPRWA | high: 8.567 % median: 3.05 % mean: 2.902 % YPF: 2.619 % low: -20.351 % |
|