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APi Group Corporation

APG Industrials Engineering & Construction

APi Group Corporation’s revenue for fiscal 2025 (year ended December 2025) was $7.9 billion, up 12.7% from fiscal 2024. In the quarter to June 2026, revenue grew 13.3%, EPS grew 23.5%, free cash flow fell 12.9% and total debt rose 27.8%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.

40.15 0.18 −0.45%
Market cap
$17.6B
P/E
0.0×
Fwd P/E
36.8×
Dividend yield
—
F-score
6/9
Altman Z
3.04
Beneish M
−2.66
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.28
Total sells 361.02
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — — — — — — — — —
Sell 1 — — 2 3 — 2 2 — 2 — —
Insider Ownership 10.89%

Capital & Financial Ratios $m

Market Cap 17,590.00
Revenue 8,438.00
Net Income 346.00
Free Cash Flow 698.00
Net Debt 2,672.00
Current Ratio 1.39
Debt/Equity 1.00
P/E ratio 0.00
Fwd P/E 36.80 (above 35: high)
P/S ratio 2.06
P/B ratio 4.94
Past 5Y EPS Growth —
This Y EPS Growth 16.83% (at or above 15%: strong)
Next Y EPS Growth 15.47% (at or above 15%: strong)
Next Y revenue growth 13.65% (at or above 10%: strong)
Next 5Y EPS Growth 15.27% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.4×, against a ten-year median of 1.6×; over the ten years it ranged from 0.9× in 2022 to 5.7× in 2020.
P/S against its own 10 years 79.83%
10-year low 10-year high
P/B against its own 10 years 89.67%
10-year low 10-year high
EV/Sales against its own 10 years 78.81%
10-year low 10-year high
EV/FCF against its own 10 years 71.37%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 479 499 912 851
Receivables 1,395 1,444 1,563 1,706
Inventory 150 143 145 172
Other 436 453 484 630
2,582 2,658 3,229 3,530
2023 2024 2025 Q'26
Payables 472 497 526 554
ST’ Debt 5 4 5 306
Other 548 610 754 866
1,807 1,885 2,150 2,541

Compound Annual Growth %

10y 5y 3y
Sales — 17.14% 6.45%
Cash Flow — 8.88% 41.13%
Earnings — 0.00% 0.00%
Book Value — 16.95% 17.02%

Revenue $m

Mar Jun Sep Dec Year
’26 1,982 2,254 — — —
’25 1,719 1,990 2,085 2,117 7,911
’24 1,601 1,730 1,826 1,861 7,018
’23 1,614 1,771 1,784 1,759 6,928
’22 1,471 1,649 1,735 1,703 6,558
’21 803 978 1,047 1,112 3,940
’20 858 889 958 882 3,587
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 85 83 — — —
’25 62 83 232 382 759
’24 7 110 220 283 620
’23 (1) 74 144 297 514
’22 (118) 54 146 188 270
’21 32 (13) 49 114 182
’20 55 177 97 167 496
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 69 54 — — —
’25 54 62 204 371 691
’24 8 92 204 265 569
’23 (18) 54 130 316 482
’22 (127) 35 124 176 208
’21 16 (20) 42 109 147
’20 45 176 97 157 475
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.12 0.20 — — —
’25 0.07 0.16 0.20 (1.19) (0.69)
’24 (0.89) 0.15 0.15 (0.07) (0.56)
’23 0.03 0.08 0.10 (0.72) (0.45)
’22 (0.05) 0.04 0.04 0.03 0.07
’21 (0.03) 0.06 0.05 (0.50) (0.45)
’20 (0.76) 0.11 0.09 (0.96) (1.47)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — 6.41 6.07 5.67 2.87 11.09 8.73 12.22 20.17 20.50

Analyst estimates 2026–2028

Powerpack
High — 7.07 6.67 7.03 12.24 17.35 17.89 23.28 27.26 40.58
People
People Employees — — — — 13,000 13,300 26,000 29,000 29,000 29,000
Revenue/emp, $m — — 0.00 0.00 0.28 0.30 0.25 0.24 0.24 0.27
Income, $m
Income, $m Revenue — — 3,728 985 3,587 3,940 6,558 6,928 7,018 7,911
Gross margin, % — — 21.11 20.10 21.08 23.83 26.14 28.00 31.03 31.44
EBT — — 146 (151) (184) 79 93 232 330 413
EBT margin, % — — 3.92 (15.33) (5.13) 2.01 1.42 3.35 4.70 5.22
Net income — 0 136 (153) (153) 47 73 153 250 302
Depreciation — — 109 69 263 202 304 303 302 327
Per share, $
Per share, $ Revenue — — 31.86 4.94 14.15 12.75 18.76 19.63 17.46 19.02
Earnings — — (1.28) (0.77) (1.47) (0.45) 0.07 (0.45) (0.56) (0.69)
Cash flow — — 0.96 0.75 1.96 0.59 0.77 1.46 1.54 1.82
Capex — — (0.59) (0.03) (0.08) (0.11) (0.18) (0.09) (0.13) (0.16)
Free cash flow — — 0.37 0.72 1.87 0.48 0.60 1.37 1.42 1.66
Book value — — 0.00 8.81 6.15 7.52 6.09 5.87 7.35 8.19
Shares, m — — 117 200 254 309 350 353 402 416
Valuation, ×
Valuation, × P/E — — 0.00 0.00 0.00 0.00 233.15 0.00 0.00 0.00
P/S — — 0.00 0.00 0.86 1.35 0.66 1.12 1.37 2.01
P/B — — 0.00 0.00 1.97 2.29 2.05 3.74 3.26 4.67
EV/Sales — — 0.00 0.95 1.11 1.42 1.00 1.38 1.69 2.25
EV/FCF — — 0.00 6.49 8.35 38.00 31.42 19.89 20.90 25.71
Cash, $m
Cash, $m Operating cash flow — — 112 150 496 182 270 514 620 759
Capex — — (69) (6) (21) (35) (62) (32) (51) (68)
Free cash flow — — 43 144 475 147 208 482 569 691
Balance, $m
Balance, $m Working capital — — 1,242 519 596 1,759 731 775 773 1,079
Total debt — — — 1,190 1,415 1,767 2,789 2,327 2,753 2,759
Net debt — — (1,242) 934 900 277 2,184 1,848 2,254 1,847
Shareholders’ equity — — — 1,757 1,558 2,323 2,127 2,071 2,953 3,408
Returns, %
Returns, % ROA — — 0.00 (7.63) (9.29) (2.97) 0.44 (2.05) (2.85) (3.37)
ROIC — — 0.00 (3.74) (4.22) 3.27 2.35 5.73 5.81 6.59
ROE — — 9.20 (10.34) (22.62) (7.06) 1.30 (7.67) (8.92) (9.06)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

APi Group Corporation vs peers in Engineering & Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FER Ferrovial N.V. $35.2B — — — — — — — Compare
EME EMCOR Group, Inc. $32.3B 22.3× 28.0× +19.76% (above 0%: growing) +34.87% (above 0%: growing) +55.56% (above 0%: growing) 19.83% 10.62% Compare
APG APi Group Corporation $17.6B — (loss-making) 36.8× +13.27% (above 0%: growing) +23.53% (above 0%: growing) −12.90% (below 0%: shrinking) 31.19% 7.76%
J Jacobs Solutions Inc. $16.6B 49.7× 28.3× +34.46% (above 0%: growing) −25.16% (below 0%: shrinking) +59.31% (above 0%: growing) 19.89% 7.03% Compare
MTZ MasTec, Inc. $15.4B 30.1× 53.1× +23.38% (above 0%: growing) +51.82% (above 0%: growing) −31.15% (below 0%: shrinking) 12.72% 5.17% Compare
STRL Sterling Infrastructure, Inc. $13.7B 30.1× 52.6× +90.11% (above 0%: growing) +118.03% (above 0%: growing) +55.30% (above 0%: growing) 24.82% 18.77% Compare
IESC IES Holdings, Inc. $10.6B 22.1× 36.6× +39.60% (above 0%: growing) +98.70% (above 0%: growing) −14.63% (below 0%: shrinking) 27.41% 14.37% Compare
TTEK Tetra Tech, Inc. $8.9B 20.8× 17.9× −4.47% (below 0%: shrinking) −2.33% (below 0%: shrinking) −34.95% (below 0%: shrinking) 18.59% 12.07% Compare
DY Dycom Industries, Inc. $7.8B 22.8× 41.3× +45.57% (above 0%: growing) +13.95% (above 0%: growing) +106.51% (above 0%: growing) 21.96% 9.57% Compare
Median of peers $14.5B 22.8× 36.6× +34.46% +34.87% +55.30% 19.89% 10.62%

All 51 Engineering & Construction stocks →

APi Group Corporation (APG) key facts

  • Strength: APi Group Corporation’s revenue for fiscal 2025 (year ended December 2025) was $7.9 billion, up 12.7% from fiscal 2024.
  • APi Group Corporation (APG) is an Engineering & Construction company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, APG traded at $40.15, a market capitalization of $17.6 billion.
  • Return on equity was −9.06% and debt-to-equity 1.00.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.04 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/APG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com