A Business at a Glance
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Table of Contents Our Business We are a global, market-leading business services provider of fire and life safety, security, elevator and escalator, and specialty services with a substantial recurring revenue base and over 500 locations worldwide. We provide statutorily mandated and other contracted services to a strong base of long-standing customers across industries. We have a winning leadership culture driven by entrepreneurial business leaders that deliver innovative solutions to our customers. We believe that our core strategies of driving sustainable organic growth, growing through accretive acquisitions, promoting the sharing of best practices across all of our businesses, and leveraging our scale and service offerings place us in a unique position to capitalize on opportunities in the industries we serve and advance our position in each of our markets.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 7.9B | 7.9B | 7.0B | 6.9B | 6.6B | 3.9B |
| Net Income | -288M | -288M | -224M | -161M | 29M | -137M |
| EPS | $-0.69 | $-0.69 | $-0.56 | $-0.46 | $0.10 | $-0.67 |
| Free Cash Flow | 663M | 663M | 536M | 428M | 191M | 127M |
| ROIC | 7.9% | 7.5% | 7.8% | 4.2% | 2.1% | 1.9% |
| Gross Margin | 31.4% | 31.4% | 31.0% | 28.0% | 26.1% | 23.8% |
| Debt/Equity | 0.90 | 0.90 | 1.02 | 1.24 | 2.75 | 1.58 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 554M | 554M | 484M | 359M | 162M | 136M |
| Operating Margin | 7.0% | 7.0% | 6.9% | 5.2% | 2.5% | 3.5% |
| ROE | -8.5% | -9.1% | -8.9% | -7.7% | 1.3% | -7.1% |
| Shares Outstanding | 417M | 417M | 400M | 350M | 290M | 204M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 3.7B | 985M | 3.6B | 3.9B | 6.6B | 6.9B | 7.0B | 7.9B | 7.9B |
| Gross Margin | 21.1% | 20.1% | 21.1% | 23.8% | 26.1% | 28.0% | 31.0% | 31.4% | 31.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 625M | 359M | 725M | 803M | 1.6B | 1.6B | 1.7B | 1.9B | 1.9B |
| EBIT | 162M | -161M | -166M | 136M | 162M | 359M | 484M | 554M | 554M |
| Op. Margin | 4.3% | -16.3% | -4.6% | 3.5% | 2.5% | 5.2% | 6.9% | 7.0% | 7.0% |
| Net Income | 136M | -153M | -375M | -137M | 29M | -161M | -224M | -288M | -288M |
| Net Margin | 3.6% | -15.5% | -10.5% | -3.5% | 0.4% | -2.3% | -3.2% | -3.6% | -3.6% |
| Non-Recurring | 0 | 0 | 197M | 197M | 219M | 41M | 16M | 14M | 14M |
| Returns on Capital | |||||||||
| ROIC | N/A | -7.6% | -4.5% | 1.9% | 2.1% | 4.2% | 7.8% | 7.5% | 7.9% |
| ROE | N/A | -12.8% | -22.6% | -7.1% | 1.3% | -7.7% | -8.9% | -9.1% | -8.5% |
| ROA | N/A | -7.5% | -9.3% | -3.0% | 0.4% | -2.1% | -2.8% | -3.4% | -3.2% |
| Cash Flow | |||||||||
| Op. Cash Flow | 112M | 150M | 496M | 182M | 270M | 514M | 620M | 759M | 759M |
| Free Cash Flow | 38M | 139M | 458M | 127M | 191M | 428M | 536M | 663M | 663M |
| Owner Earnings | 0 | -24M | 397M | 15M | 34M | 238M | 314M | 374M | 374M |
| CapEx | 74M | 11M | 38M | 55M | 79M | 86M | 84M | 96M | 96M |
| Maint. CapEx | 109M | 18M | 94M | 155M | 218M | 247M | 274M | 341M | 341M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 109M | 18M | 94M | 155M | 218M | 247M | 274M | 341M | 341M |
| CapEx/OCF | N/A | N/A | 7.7% | 30.2% | 29.3% | 16.7% | 13.5% | 12.6% | 12.6% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 30M | 30M | 44M | 41M | 0 | 75M | 75M |
| Buyback Yield | N/A | N/A | 1.0% | N/A | 0.8% | 0.5% | N/A | 0.5% | 0.4% |
| Stock-Based Comp | 3.0M | 156M | 5.0M | 12M | 18M | 29M | 32M | 44M | 44M |
| Debt Repayment | 12M | 0 | 21M | 321M | 34M | 484M | 437M | 7.0M | 7.0M |
| Balance Sheet | |||||||||
| Net Debt | 273M | 138M | 2.4B | 2.5B | 5.2B | 2.1B | 2.5B | 2.2B | 2.2B |
| Cash & Equiv. | 54M | 256M | 515M | 1.2B | 605M | 479M | 499M | 912M | 912M |
| Long-Term Debt | 12M | 1.2B | 1.4B | 1.8B | 2.6B | 2.3B | 2.7B | 2.8B | 2.8B |
| Debt/Equity | N/A | 0.69 | 1.90 | 1.58 | 2.75 | 1.24 | 1.02 | 0.90 | 0.90 |
| Interest Coverage | 7.4 | -10.7 | -3.2 | 2.3 | 1.3 | 2.5 | 21.0 | 32.6 | 32.6 |
| Equity | N/A | 1.8B | 1.6B | 2.3B | 2.1B | 2.1B | 3.0B | 3.4B | 3.4B |
| Total Assets | N/A | 4.0B | 4.1B | 5.2B | 8.1B | 7.6B | 8.2B | 8.9B | 8.9B |
| Total Liabilities | 13M | 2.3B | 2.5B | 2.8B | 5.2B | 4.7B | 5.2B | 5.5B | 5.5B |
| Intangibles | N/A | 1.1B | 965M | 882M | 1.8B | 1.6B | 1.7B | 1.6B | 1.6B |
| Retained Earnings | N/A | -131M | -284M | -237M | -164M | -11M | 215M | 517M | 517M |
| Working Capital | N/A | 519M | 596M | 1.8B | 731M | 775M | 773M | 1.1B | 1.1B |
| Current Assets | N/A | 1.3B | 1.4B | 2.6B | 2.7B | 2.6B | 2.7B | 3.2B | 3.2B |
| Current Liabilities | N/A | 823M | 841M | 867M | 1.9B | 1.8B | 1.9B | 2.1B | 2.1B |
| Per Share Data | |||||||||
| EPS | N/A | -1.15 | -2.21 | -0.67 | 0.10 | -0.46 | -0.56 | -0.69 | -0.69 |
| Owner EPS | N/A | -0.18 | 2.34 | 0.07 | 0.12 | 0.68 | 0.78 | 0.90 | 0.90 |
| Book Value | N/A | 13.21 | 9.18 | 11.36 | 7.33 | 5.92 | 7.38 | 8.17 | 8.17 |
| Cash Flow/Share | N/A | 1.13 | 2.92 | 0.89 | 0.93 | 1.47 | 1.55 | 1.82 | 0.13 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | N/A | 133.0M | 169.7M | 204.5M | 290.0M | 350.0M | 400.0M | 417.4M | 417.4M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 182.5 | N/A | N/A | N/A | -65.9 |
| P/FCF | N/A | N/A | 4.4 | 27.3 | 18.5 | 19.0 | 17.9 | 24.9 | 28.6 |
| EV/EBIT | N/A | N/A | N/A | 33.7 | 43.7 | 26.8 | 23.5 | 31.5 | 38.1 |
| Price/Book | N/A | N/A | 1.9 | 2.2 | 2.5 | 4.0 | 3.3 | 4.8 | 5.6 |
| Price/Sales | N/A | N/A | 0.7 | 1.1 | 0.8 | 0.9 | 1.4 | 1.7 | 2.4 |
| FCF Yield | N/A | N/A | 15.2% | 2.4% | 3.6% | 5.2% | 5.6% | 4.0% | 3.5% |
| Market Cap | N/A | N/A | 3.0B | 5.2B | 5.3B | 8.2B | 9.6B | 16.5B | 19.0B |
| Avg. Price | N/A | N/A | 9.26 | 14.10 | 12.22 | 16.80 | 23.90 | 31.37 | 45.46 |
| Year-End Price | N/A | N/A | 11.85 | 16.93 | 12.17 | 23.19 | 24.00 | 39.57 | 45.46 |
APi Group Corp passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 29.6x vs a median of 18.7x. The company's 5-year average ROIC is 4.7% with a gross margin of 28.1%. Total shareholder yield (buybacks) is 0.4%. At current prices, the estimated annualized return to fair value is -3.7%.
APi Group Corp (APG) has a 5-year average return on invested capital (ROIC) of 4.7%. This is below average and may indicate limited pricing power.
APi Group Corp (APG) has a market capitalization of $19.0B. It is classified as a large-cap stock.
APi Group Corp (APG) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.40%.
APi Group Corp (APG) operates in the Services-To Dwellings & Other Buildings industry, within the Industrials sector.
APi Group Corp (APG) reported annual revenue of $7.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
APi Group Corp (APG) has a net profit margin of -3.6%. The company is currently unprofitable.
APi Group Corp (APG) generated $663 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
APi Group Corp (APG) has a debt-to-equity ratio of 0.90. This indicates moderate leverage.
APi Group Corp (APG) reported earnings per share (EPS) of $-0.69 in its most recent fiscal year.
APi Group Corp (APG) has a return on equity (ROE) of -9.1%. A negative ROE may indicate losses or negative equity.
APi Group Corp (APG) has a 5-year average gross margin of 28.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 8 years of financial data for APi Group Corp (APG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
APi Group Corp (APG) has a book value per share of $8.16, based on its most recent annual SEC filing.
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