Financials YPF Sociedad Anónima

Equities

YPFD

ARP9897X1319

Oil & Gas Refining and Marketing

End-of-day quote Buenos Aires S.E. Other stock markets 13/02/2026			5-day change	1st Jan Change
54,650.00 ^ARS	-1.09%		-3.95%	+0.09%

12/02	Sector Update: Energy Stocks Lean Lower Pre-Bell Thursday	MT
12/02	Sector Update: Energy	MT

Projected Income Statement: YPF Sociedad Anónima

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	8,46,606	14,30,207	37,74,415	1,46,47,287	2,05,23,893	2,61,56,843	2,55,39,755	2,82,22,356
Change	-	68.93%	163.91%	288.07%	40.12%	27.45%	-2.36%	10.5%
EBITDA ¹	1,31,289	4,14,758	9,93,011	34,33,579	49,50,925	73,11,677	81,95,102	1,00,30,306
Change	-	215.91%	139.42%	245.77%	44.19%	47.68%	12.08%	22.39%
EBIT ¹	-1,17,925	66,984	5,22,902	7,36,976	15,74,424	25,45,177	36,18,734	50,44,983
Change	-	156.8%	680.64%	40.94%	113.63%	61.66%	42.18%	39.41%
Interest Paid ¹	-1,38,753	-51,318	-25,493	7,58,638	-7,39,758	-14,58,376	-12,15,982	-12,08,812
Earnings before Tax (EBT) ¹	-82,168	71,845	6,14,950	-2,17,454	12,56,348	12,90,068	29,71,847	42,21,845
Change	-	187.44%	755.94%	-135.36%	677.75%	2.68%	130.36%	42.06%
Net income ¹	-97,699	-2,485	4,48,334	-11,10,117	24,97,802	1,86,330	19,61,902	28,97,781
Change	-	97.46%	18,142.51%	-347.61%	325%	-92.54%	952.92%	47.7%
Announcement Date	04/03/21	03/03/22	10/03/23	06/03/24	07/03/25	-	-	-

¹ARS in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	2,04,970	2,48,795	3,24,937	3,62,473	3,91,098	4,25,651	6,50,788	8,30,618	9,32,391	9,70,574	12,52,103	15,76,400	35,48,652	38,04,071	46,24,095	52,66,807	50,54,114	53,59,104	61,70,210	66,61,776	59,23,984	62,54,286	66,54,868	71,47,854
Change	-	21.38%	30.6%	11.55%	7.9%	8.84%	52.89%	27.63%	12.25%	4.1%	29.01%	25.9%	125.11%	7.2%	21.56%	13.9%	-4.04%	6.03%	15.14%	7.97%	-11.08%	5.58%	6.4%	7.41%
EBITDA ¹	16,524	72,064	1,05,175	1,15,519	90,104	1,13,819	2,01,068	2,40,252	1,87,281	2,39,094	2,87,626	3,24,100	9,15,508	10,98,856	11,28,148	13,58,214	8,92,528	14,47,935	14,94,358	19,47,024	18,18,906	21,02,569	24,09,997	26,33,107
Change	-	336.12%	45.95%	9.83%	-22%	26.32%	76.66%	19.49%	-22.05%	27.67%	20.3%	12.68%	182.48%	20.03%	2.67%	20.39%	-34.29%	62.23%	3.21%	30.29%	-6.58%	15.6%	14.62%	9.26%
EBIT ¹	-31,784	7,329	30,078	42,844	-21,175	44,497	1,13,938	1,29,108	93,741	76,721	63,249	41,650	4,51,831	5,87,822	5,52,830	7,49,702	-5,63,814	2,23,296	5,47,754	7,92,010	7,69,541	9,37,522	12,44,950	14,68,060
Change	-	123.06%	310.42%	42.44%	-149.42%	310.14%	156.06%	13.31%	-27.39%	-18.16%	-17.56%	-34.15%	984.83%	30.1%	-5.95%	35.61%	-175.21%	139.6%	145.3%	44.59%	-2.84%	21.83%	32.79%	17.92%
Charge d'intérêts ¹	-37,553	-4,291	-16,494	-14,715	-4,970	-11,827	-13,673	-	6,223	-24,963	-14,310	39,200	4,64,317	-	-1,50,857	-1,61,973	-1,19,213	-2,97,728	-3,81,566	-3,51,526	-3,40,014	-	-	-
Earnings before Tax (EBT) ¹	56,796	8,174	20,278	39,040	-2,269	52,811	1,31,230	-	1,24,453	97,561	1,30,219	-47,950	-8,46,972	4,73,082	4,27,272	6,94,021	-5,41,474	19,771	1,58,210	4,86,397	4,23,163	-	-	-
Change	-	-85.61%	148.08%	92.52%	-105.81%	2,427.72%	148.49%	-	-	-21.61%	33.47%	-136.82%	-1,666.37%	155.86%	-9.68%	62.43%	-178.02%	103.65%	700.21%	207.44%	-13%	-	-	-
Net income ¹	49,933	-2,161	-46,475	23,224	26,685	29,274	1,05,896	1,08,579	93,339	78,095	95,875	-44,800	-15,73,794	5,72,817	4,86,303	14,61,621	-3,08,502	-18,608	66,475	-2,95,569	3,81,813	-	-	-
Change	-	-104.33%	-2,050.64%	149.97%	14.9%	9.7%	261.73%	2.53%	-14.04%	-16.33%	22.77%	-146.73%	-3,412.93%	136.4%	-15.1%	200.56%	-121.11%	93.97%	457.24%	-544.63%	229.18%	-	-	-
Announcement Date	04/03/21	12/05/21	10/08/21	09/11/21	03/03/22	11/05/22	10/08/22	10/11/22	10/03/23	11/05/23	10/08/23	09/11/23	06/03/24	10/05/24	09/08/24	08/11/24	07/03/25	07/05/25	07/08/25	07/11/25	-	-	-	-

¹ARS in Million

Estimates

Forecast Balance Sheet: YPF Sociedad Anónima

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	6,41,024	7,64,477	12,03,577	57,53,637	79,12,750	1,30,53,620	1,38,45,634	1,40,57,622
Change	-	19.26%	57.44%	378.04%	37.53%	64.97%	6.07%	1.53%
Announcement Date	04/03/21	03/03/22	10/03/23	06/03/24	07/03/25	-	-	-

¹ARS in Million

Estimates

Cash Flow Forecast: YPF Sociedad Anónima

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,14,616	2,64,909	8,41,460	48,07,243	53,65,640	71,72,374	77,16,676	79,01,524
Change	-	131.13%	217.64%	471.3%	11.62%	33.67%	7.59%	2.4%
Free Cash Flow (FCF) ¹	94,600	1,89,823	3,01,296	1,93,677	-8,08,944	-11,84,472	-12,51,596	3,85,716
Change	-	100.66%	58.72%	-35.72%	-517.68%	-46.42%	-5.67%	130.82%
Announcement Date	04/03/21	03/03/22	10/03/23	06/03/24	07/03/25	-	-	-

¹ARS in Million

Estimates

Forecast Financial Ratios: YPF Sociedad Anónima

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	15.51%	29%	26.31%	23.44%	24.12%	27.95%	32.09%	35.54%
EBIT Margin (%)	-13.93%	4.68%	13.85%	5.03%	7.67%	9.73%	14.17%	17.88%
EBT Margin (%)	-9.71%	5.02%	16.29%	-1.48%	6.12%	4.93%	11.64%	14.96%
Net margin (%)	-11.54%	-0.17%	11.88%	-7.58%	12.17%	0.71%	7.68%	10.27%
FCF margin (%)	11.17%	13.27%	7.98%	1.32%	-3.94%	-4.53%	-4.9%	1.37%
FCF / Net Income (%)	-96.83%	-7,639.13%	67.2%	-17.45%	-32.39%	-635.69%	-63.8%	13.31%
Profitability
ROA	-3.98%	-0.1%	9.06%	-5.15%	8.63%	0.58%	3.65%	5.51%
ROE	-11.42%	-0.28%	23.68%	9.96%	22.8%	2.46%	10.34%	13.49%
Financial Health
Leverage (Debt/EBITDA)	4.88x	1.84x	1.21x	1.68x	1.6x	1.79x	1.69x	1.4x
Debt / Free cash flow	6.78x	4.03x	3.99x	29.71x	-9.78x	-11.02x	-11.06x	36.45x
Capital Intensity
CAPEX / Current Assets (%)	13.54%	18.52%	22.29%	32.82%	26.14%	27.42%	30.21%	28%
CAPEX / EBITDA (%)	87.3%	63.87%	84.74%	140.01%	108.38%	98.09%	94.16%	78.78%
CAPEX / FCF (%)	121.16%	139.56%	279.28%	2,482.1%	-663.29%	-605.53%	-616.55%	2,048.53%
Items per share
Cash flow per share ¹	533.1	1,012	2,915	12,769	15,966	19,653	16,155	-
Change	-	89.79%	188.16%	337.99%	25.03%	23.1%	-17.8%	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	1,725	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EPS ¹	-177.4	-6.482	1,141	-2,833	6,372	-42.73	2,493	-
Change	-	96.35%	17,701.17%	-348.32%	324.91%	-100.67%	5,933.33%	-
Nbr of stocks (in thousands)	3,93,313	3,93,313	3,93,313	3,93,313	3,93,313	3,92,411	3,92,411	-
Announcement Date	04/03/21	03/03/22	10/03/23	06/03/24	07/03/25	-	-	-