YPF Sociedad Anónima
- Open
- 44.89
- Day high
- 45.61
- Day low
- 44.57
- Prev close
- 45.47
- Volume
- 160K
- Mkt cap
- $17.8B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.7
- P/S
- 1.3
- Yield
- —
- Per share
- —
- ▲Insiders net buying $4K over the last 3 months (1 open-market buy, 0 sales)
- 🏛Institutions accumulating (13F)
YPF Sociedad Anónima (YPF) is a Energy company listed on NYSE. The stock is up 36% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 0 sales (SEC Form 4).
YPF Sociedad Anónima (YPF) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
YPF earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $0.83 | $1.03 | +24.1% | $3.5B | -29.7% |
| Nov 7, 2025 | $0.73 | $-0.53 | -172.6% | $4.6B | +0.3% |
| Aug 8, 2025 | $0.61 | $0.13 | -78.7% | $4.6B | +3.1% |
| May 8, 2025 | $0.76 | $-0.04 | -105.3% | $4.6B | -0.7% |
| Dec 31, 2024 | — | $-0.77 | — | $4.8B | — |
| Aug 9, 2024 | $0.70 | $1.32 | +89.4% | $4.9B | +9.3% |
| Mar 7, 2024 | $1.14 | $-4.75 | -516.7% | $4.2B | -5.9% |
| Nov 9, 2023 | $0.46 | $-0.33 | -171.2% | $4.5B | +9.8% |
| Aug 11, 2023 | $0.94 | $0.86 | -8.8% | $4.4B | -4.4% |
| May 12, 2023 | $0.87 | $0.87 | +0.0% | $4.2B | -6.7% |
| Nov 9, 2022 | $1.26 | $1.72 | +36.5% | $5.2B | +11.6% |
| Aug 11, 2022 | $0.90 | $2.01 | +123.3% | $4.9B | +14.9% |
YPF insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | Maquieyra Martindirector | Buy | 77 | $54.44 |
| Mar 27, 2026 | Martin Mauricio Alejandrodirector, officer: Midstrm. & Downstrm. Exec. VP | Sell | 2,130 | $44.21 |
| Mar 27, 2026 | Martin Mauricio Alejandrodirector, officer: Midstrm. & Downstrm. Exec. VP | Sell | 1,300 | $42.60 |
| Mar 20, 2026 | Aldeco Marcelo Gustavoofficer: Labor Relations VP | Sell | 12,719 | $43.61 |
Source: YPF SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
See the full YPF insider & 13F page →YPF Sociedad Anónima company profile
Overview
YPF Sociedad Anónima (NYSE:YPF) is Argentina's largest integrated oil and gas company, founded in 1977 as the state-owned petroleum corporation. Originally established as Yacimientos Petrolíferos Fiscales, YPF was privatized in the 1990s before being partially renationalized in 2012 when the Argentine government acquired a controlling stake. Today, the company operates as a publicly traded entity while maintaining its position as Argentina's dominant energy producer, controlling significant portions of the country's hydrocarbon resources and refining capacity.
Business
YPF operates as an integrated oil and gas company across the entire energy value chain in Argentina. The company's operations are divided into two primary segments that generate distinct revenue streams. The upstream segment focuses on exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs). YPF holds interests in 119 oil and gas fields across Argentina, with proven reserves of approximately 643 million barrels of oil and 2,447 billion cubic feet of natural gas. The company's crown jewel is its position in the Vaca Muerta shale formation, one of the world's largest unconventional oil and gas resources located in Argentina's Neuquén Basin. This formation represents the future of YPF's growth strategy, with shale oil production growing from conventional operations to representing nearly 50% of total oil output. The upstream segment typically accounts for approximately 60-65% of total company revenues. The downstream segment encompasses refining, marketing, transportation, and distribution of petroleum products. YPF operates three refineries with combined annual refining capacity of approximately 120 million barrels, processes around 300,000 barrels per day, and maintains a retail network of 1,654 YPF-branded service stations throughout Argentina. The company also operates approximately 2,800 kilometers of crude oil pipelines and maintains terminal facilities at five Argentine ports. Additionally, YPF participates in power generation through 21 plants with 3,091 megawatts of installed capacity and distributes various petroleum derivatives, petrochemicals, LPG, and biofuels. The downstream segment typically represents 35-40% of revenues. YPF also maintains smaller operations in gas distribution through its Metrogas subsidiary and has international presence through subsidiaries in Brazil and Chile, though these represent minor portions of overall business activity.
Revenue model
YPF generates revenue through multiple channels within its integrated business model. The upstream segment monetizes hydrocarbon production through direct sales of crude oil, natural gas, and NGLs to both domestic and international markets. With Argentina's energy market liberalization, YPF has increasingly focused on export opportunities, particularly crude oil exports to Chile and other international destinations, which command higher prices than domestic sales. The downstream segment generates revenue through refining margins - the difference between crude oil input costs and refined product selling prices - as well as retail fuel sales through its extensive service station network. YPF also earns transportation fees through its pipeline infrastructure and generates power sales revenue from its electricity generation assets. Several factors significantly impact YPF's profitability margins. Commodity price volatility directly affects both upstream revenues and downstream input costs, with higher oil prices generally benefiting the upstream segment while pressuring refining margins. Currency fluctuations create complex dynamics since YPF operates primarily in Argentina but increasingly sells into international markets priced in US dollars, while many operational costs remain peso-denominated. Argentine government energy policies, including fuel price controls and export restrictions, can limit the company's ability to capture full international pricing. Infrastructure constraints, particularly pipeline capacity limitations, restrict YPF's ability to transport increased shale production to markets, though ongoing pipeline projects like VEMOS aim to address these bottlenecks. Operational efficiency improvements in shale drilling and completion techniques directly impact lifting costs, with YPF targeting reductions from current levels around $16 per barrel to approximately $4.4 per barrel in core Vaca Muerta areas. Refinery utilization rates and fuel import dependency also influence downstream margins, with YPF working to reduce Argentina's reliance on imported refined products through increased domestic processing capacity.
Competitive moat
YPF's competitive moat stems primarily from its dominant market position in Argentina's energy sector and strategic control of premium shale assets, though this moat faces several limitations. The company's strongest competitive advantage lies in its extensive Vaca Muerta acreage position, controlling some of the most productive areas within this world-class shale formation. With approximately 10,000 gross well inventory and established infrastructure, YPF enjoys significant scale advantages and operational expertise that would be difficult for competitors to replicate quickly. YPF's integrated business model provides some defensive characteristics, allowing the company to capture value across the entire hydrocarbon value chain and partially hedge against commodity price volatility through its downstream operations. The company's extensive retail network and pipeline infrastructure create switching costs for customers and barriers for new entrants in Argentina's fuel distribution market. However, YPF's moat is constrained by several factors. The company operates primarily within Argentina's challenging economic environment, characterized by currency instability, inflation, and periodic government intervention in energy pricing. Unlike global oil majors with geographic diversification, YPF's concentration in Argentina creates sovereign risk exposure that limits its strategic flexibility. Additionally, while YPF holds premium Vaca Muerta acreage, other international operators like Chevron, Shell, and ExxonMobil also maintain significant positions in the formation, creating competitive pressure for capital, talent, and market access. The company's financial constraints relative to international peers limit its ability to fully develop its resource base at optimal pace, potentially allowing competitors to gain market share over time. YPF's moat is therefore moderate - strong within the Argentine context but vulnerable to macroeconomic and political risks that could undermine long-term competitive positioning.
Risks & safety
YPF presents a mixed margin of safety profile with moderate financial risk but attractive valuation metrics. **Liquidity and Solvency:** - Current ratio of 0.78 indicates potential short-term liquidity pressure - Net debt of $7.4 billion with 1.7x net leverage ratio suggests manageable debt levels - Free cash flow of $199 million for 2024 provides modest cash generation capability - $1.08 billion in cash and short-term investments offers reasonable liquidity buffer **Valuation Metrics:** - EV/EBITDA of 6.7x appears reasonable for integrated oil company - Price-to-book ratio of 1.43x suggests modest premium to book value - Price-to-earnings ratio of 8.3x indicates potentially attractive valuation relative to earnings power **Other Considerations:** - Debt-to-equity ratio of 0.83x represents moderate leverage - Operating in Argentina creates sovereign risk and currency exposure - Commodity price sensitivity creates earnings volatility - Strong operational cash flow of $5.2 billion demonstrates underlying cash generation capability
Recent development
Over the past few years, YPF has undergone a significant strategic transformation focused on repositioning the company as a shale oil-focused producer while divesting non-core assets. The company implemented its "4X4 strategic plan" which emphasizes reshaping the oil production matrix, exiting mature conventional fields, concentrating investments in Vaca Muerta, and improving operational efficiency. The most significant development has been YPF's aggressive expansion in the Vaca Muerta shale formation, with shale oil production growing 26% annually to reach 122,000 barrels per day in 2024, representing nearly 50% of total oil production. The company has systematically improved drilling efficiency, achieving record drilling speeds of 1,500 meters per day and implementing advanced technologies including a Real-Time Intelligence Center and Toyota-inspired well construction techniques to reduce cycle times by 30%. YPF has also prioritized infrastructure development to address transportation bottlenecks constraining shale production growth. The company initiated construction of the VEMOS (Vaca Muerta South Oil Pipeline) project, designed to provide 700,000 barrels per day of export capacity by 2027, with initial 350,000 barrel per day capacity expected by Q1 2025. Additionally, YPF expanded the Oldelval pipeline capacity to 540,000 barrels per day. The company has actively pursued portfolio optimization through its "Andes Project," signing agreements to divest 24 blocks of mature conventional assets while exploring potential sales of international subsidiaries including YPF Brazil, YPF Chile, and the Refinor refinery. These divestments align with YPF's strategy to focus capital allocation on high-return Vaca Muerta development. Operational efficiency initiatives have generated substantial cost savings, with YPF achieving $405 million in operational savings during 2024. The company successfully narrowed Argentina's fuel price gap to international parity from 20% to just 2%, reducing import dependency and improving downstream margins.
YPF company profile · for informational purposes only — not investment advice.
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