APG · Api Group Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.98B | - | $2.08B | $1.99B | $1.72B | - | $1.83B | $1.73B | $1.60B | - |
| Cost of Revenue | $1.36B | - | $1.43B | $1.38B | $1.18B | - | $1.26B | $1.19B | $1.11B | - |
| Gross Profit | $620.00M | - | $652.00M | $615.00M | $542.00M | - | $567.00M | $544.00M | $492.00M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $517.00M | - | $489.00M | $472.00M | $458.00M | - | $425.00M | $418.00M | $392.00M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $21.00M | - | $21.00M | $22.00M | $20.00M | - | $21.00M | $20.00M | $19.00M | - |
| Operating Income | $103.00M | - | $163.00M | $143.00M | $84.00M | - | $142.00M | $126.00M | $100.00M | - |
| Interest Expense | $38.00M | - | - | - | - | - | - | - | $34.00M | - |
| Income Tax | $14.00M | - | $37.00M | $31.00M | $11.00M | - | $31.00M | $20.00M | $18.00M | - |
| Net Income | $57.00M | - | $93.00M | $77.00M | $35.00M | - | $69.00M | $69.00M | $45.00M | - |
| EPS - Basic | $0.12 | - | $0.20 | $0.17 | $0.07 | - | $0.15 | $0.15 | ($0.89) | - |
| EPS - Diluted | $0.12 | - | $0.20 | $0.16 | $0.07 | - | $0.15 | $0.15 | ($0.89) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $645.00M | $912.00M | $555.00M | $432.00M | $460.00M | $499.00M | $487.00M | $324.00M | $247.00M | $479.00M |
| Accounts Receivable | $1.54B | $1.56B | $1.56B | $1.51B | $1.36B | $1.44B | $1.34B | $1.31B | $1.26B | $1.40B |
| Inventory | $156.00M | $145.00M | $148.00M | $154.00M | $150.00M | $143.00M | $155.00M | $155.00M | $148.00M | $150.00M |
| Accounts Payable | $506.00M | $526.00M | $537.00M | $524.00M | $450.00M | $497.00M | $454.00M | $424.00M | $382.00M | $472.00M |
| Current Assets | $3.02B | $3.23B | $3.01B | $2.80B | $2.59B | $2.66B | $2.69B | $2.45B | $2.23B | $2.58B |
| Total Assets | $8.97B | $8.94B | $8.72B | $8.54B | $8.10B | $8.15B | $8.24B | $7.96B | $7.19B | $7.59B |
| Current Liabilities | $2.11B | $2.15B | $2.03B | $1.93B | $1.76B | $1.89B | $1.78B | $1.66B | $1.65B | $1.81B |
| Long-term Debt | $2.75B | $2.75B | $2.75B | $2.75B | $2.75B | $2.75B | $2.85B | $2.84B | $2.62B | $2.32B |
| Total Liabilities | $5.48B | $5.53B | $5.45B | $5.37B | $5.12B | $5.20B | $5.28B | $5.13B | $4.89B | $4.72B |
| Stockholders' Equity | $3.49B | $3.41B | $3.28B | $3.17B | $2.98B | $2.95B | $2.97B | $2.83B | $2.30B | $2.07B |
| Retained Earnings | $574.00M | $517.00M | $420.00M | $327.00M | $250.00M | $215.00M | $148.00M | $79.00M | $10.00M | ($11.00M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $85.00M | - | - | - | $62.00M | - | - | - | $7.00M | - |
| Investing Cash Flow | ($305.00M) | - | - | - | ($14.00M) | - | - | - | ($22.00M) | - |
| Financing Cash Flow | ($42.00M) | - | - | - | ($98.00M) | - | - | - | ($213.00M) | - |
| CapEx | $18.00M | - | - | - | $12.00M | - | - | - | $22.00M | - |
| Free Cash Flow | $67.00M | - | - | - | $50.00M | - | - | - | ($15.00M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 31.3% | - | 31.3% | 30.9% | 31.5% | - | 31.1% | 31.4% | 30.7% | - |
| Operating margin | 5.2% | - | 7.8% | 7.2% | 4.9% | - | 7.8% | 7.3% | 6.2% | - |
| EBITDA margin | 6.3% | - | 8.8% | 8.3% | 6.1% | - | 8.9% | 8.4% | 7.4% | - |
| Net margin | 2.9% | - | 4.5% | 3.9% | 2.0% | - | 3.8% | 4.0% | 2.8% | - |
| Free cash flow margin | 3.4% | - | - | - | 2.9% | - | - | - | -0.9% | - |
| FCF / Net income | 1.18 | - | - | - | 1.43 | - | - | - | -0.33 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 26.1% | - | 23.5% | 23.7% | 26.6% | - | 23.3% | 24.2% | 24.5% | - |
| Effective tax rate | 19.7% | - | 28.5% | 28.7% | 23.9% | - | 31.0% | 22.5% | 28.6% | - |
| Return on assets | 0.6% | - | 1.1% | 0.9% | 0.4% | - | 0.8% | 0.9% | 0.6% | - |
| Return on equity | 1.6% | - | 2.8% | 2.4% | 1.2% | - | 2.3% | 2.4% | 2.0% | - |
| Return on invested capital | 1.3% | - | 1.9% | 1.7% | 1.1% | - | 1.7% | 1.7% | 1.5% | - |
| Liquidity | ||||||||||
| Current ratio | 1.44 | 1.50 | 1.48 | 1.45 | 1.47 | 1.41 | 1.51 | 1.48 | 1.35 | 1.43 |
| Quick ratio | 1.36 | 1.43 | 1.41 | 1.37 | 1.38 | 1.33 | 1.42 | 1.38 | 1.26 | 1.35 |
| Cash ratio | 0.31 | 0.42 | 0.27 | 0.22 | 0.26 | 0.26 | 0.27 | 0.19 | 0.15 | 0.27 |
| Leverage | ||||||||||
| Debt / Equity | 0.79 | 0.81 | 0.84 | 0.87 | 0.92 | 0.93 | 0.96 | 1.00 | 1.14 | 1.12 |
| Debt / Assets | 0.31 | 0.31 | 0.32 | 0.32 | 0.34 | 0.34 | 0.35 | 0.36 | 0.36 | 0.31 |
| Debt / EBITDA | 22.22 | - | 14.96 | 16.67 | 26.44 | - | 17.47 | 19.48 | 22.05 | - |
| Interest coverage | 2.7x | - | - | - | - | - | - | - | 2.9x | - |
| Equity multiplier | 2.57 | 2.62 | 2.66 | 2.69 | 2.72 | 2.76 | 2.78 | 2.81 | 3.13 | 3.66 |
| Liabilities / Assets | 0.61 | 0.62 | 0.62 | 0.63 | 0.63 | 0.64 | 0.64 | 0.64 | 0.68 | 0.62 |
| Efficiency | ||||||||||
| Asset turnover | 0.22 | - | 0.24 | 0.23 | 0.21 | - | 0.22 | 0.22 | 0.22 | - |
| Inventory turnover | 8.73 | - | 9.68 | 8.93 | 7.85 | - | 8.12 | 7.65 | 7.49 | - |
| Days sales outstanding | 285d | - | 273d | 277d | 288d | - | 269d | 277d | 286d | - |
| Days inventory outstanding | 42d | - | 38d | 41d | 47d | - | 45d | 48d | 49d | - |
| Days payable outstanding | 136d | - | 137d | 139d | 140d | - | 132d | 130d | 126d | - |
| Cash conversion cycle | 191d | - | 174d | 179d | 195d | - | 182d | 194d | 209d | - |
| Valuation | ||||||||||
| P / E | 337.7x | - | 171.8x | 212.7x | 325.1x | - | 143.6x | 171.0x | - | - |
| P / B | 5.1x | - | 4.5x | 4.6x | 2.2x | - | 2.0x | 2.4x | 2.8x | - |
| P / S | 8.9x | - | 7.1x | 7.3x | 3.9x | - | 3.3x | 4.0x | 4.1x | - |
| EV / EBITDA | 159.2x | - | 92.2x | 102.3x | 85.8x | - | 51.7x | 64.6x | 74.9x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 15.3% | - | 14.2% | 15.0% | 7.4% | - | 2.4% | -2.3% | -0.8% | - |
| Revenue CAGR (3y) | 7.1% | - | 6.3% | 6.5% | 5.3% | - | 20.4% | 24.8% | 23.1% | - |
| Revenue CAGR (5y) | 18.2% | - | 16.8% | 13.3% | 14.9% | - | - | - | - | - |
| Gross profit growth (YoY) | 14.4% | - | 15.0% | 13.1% | 10.2% | - | 11.0% | 9.7% | 15.8% | - |
| Operating income growth (YoY) | 22.6% | - | 14.8% | 13.5% | -16.0% | - | 36.5% | 17.8% | 37.0% | - |
| Net income growth (YoY) | 62.9% | - | 34.8% | 11.6% | -22.2% | - | 27.8% | 43.8% | 73.1% | - |
| EPS growth (YoY) | 63.6% | - | 30.4% | 9.1% | - | - | 2.2% | 22.2% | - | - |
| EPS CAGR (3y) | 33.9% | - | 49.4% | 38.7% | - | - | 24.2% | 17.7% | - | - |
| EPS CAGR (5y) | - | - | 9.0% | -1.2% | - | - | - | - | - | - |
| FCF growth (YoY) | 34.0% | - | - | - | - | - | - | - | 31.8% | - |
| FCF CAGR (5y) | 36.8% | - | - | - | 2.6% | - | - | - | - | - |
| Book value growth (YoY) | 16.9% | 15.4% | 10.4% | 11.9% | 29.6% | 42.6% | 32.9% | 26.2% | 6.3% | -2.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$7.92B totalSafety Services$5.46B · 68.9%
Specialty Services$2.46B · 31.1%
Product / service
$15.83B totalCorporate And Elimination$7.91B · 50.0%
Life Safety$5.46B · 34.5%
Specialty Contracting$1.09B · 6.9%
Infrastructure And Utility$1.02B · 6.5%
Fabrication And Distribution$342.00M · 2.2%
Geographic
$5.46B totalAmericas$2.73B · 49.9%
Other Countries$2.04B · 37.4%
FR$691.00M · 12.7%
Peer comparison
Same SIC group: Services-To Dwellings & Other Buildings
Comparing APi Group Corp against the 5 most active filers in the same SIC group.