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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $7.91B | $7.02B | $6.93B | $6.56B | $3.94B | $3.59B |
| Cost of Revenue | $5.42B | $4.84B | $4.99B | $4.84B | $3.00B | $2.83B |
| Gross Profit | $2.49B | $2.18B | $1.94B | $1.71B | $939.00M | $756.00M |
| R&D | - | - | - | - | - | - |
| SG&A | $1.93B | $1.69B | $1.58B | $1.55B | $803.00M | $725.00M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $85.00M | $80.00M | $79.00M | $77.00M | $75.00M | $81.00M |
| Operating Income | $554.00M | $484.00M | $359.00M | $162.00M | $136.00M | ($166.00M) |
| Interest Expense | - | - | $145.00M | $125.00M | $60.00M | $52.00M |
| Income Tax | $111.00M | $80.00M | $79.00M | $20.00M | $32.00M | ($31.00M) |
| Net Income | $302.00M | $250.00M | $153.00M | $73.00M | $47.00M | ($153.00M) |
| EPS - Basic | ($0.69) | ($0.56) | ($0.45) | $0.07 | ($0.45) | ($1.47) |
| EPS - Diluted | ($0.69) | ($0.56) | ($0.45) | $0.07 | ($0.45) | ($1.47) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $912.00M | $499.00M | $479.00M | $605.00M | $1.19B | $515.00M |
| Accounts Receivable | $1.56B | $1.44B | $1.40B | $1.31B | $767.00M | $639.00M |
| Inventory | $145.00M | $143.00M | $150.00M | $163.00M | $69.00M | $64.00M |
| Accounts Payable | $526.00M | $497.00M | $472.00M | $490.00M | $236.00M | $150.00M |
| Current Assets | $3.23B | $2.66B | $2.58B | $2.65B | $2.63B | $1.44B |
| Total Assets | $8.94B | $8.15B | $7.59B | $8.09B | $5.16B | $4.07B |
| Current Liabilities | $2.15B | $1.89B | $1.81B | $1.92B | $867.00M | $841.00M |
| Long-term Debt | $2.75B | $2.75B | $2.32B | $2.58B | $1.77B | $1.40B |
| Total Liabilities | $5.53B | $5.20B | $4.72B | $5.17B | $2.84B | $2.51B |
| Stockholders' Equity | $3.41B | $2.95B | $2.07B | $2.13B | $2.32B | $1.56B |
| Retained Earnings | $517.00M | $215.00M | ($11.00M) | ($164.00M) | ($237.00M) | ($284.00M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $759.00M | $620.00M | $514.00M | $270.00M | $182.00M | $496.00M |
| Investing Cash Flow | ($254.00M) | ($829.00M) | ($115.00M) | ($2.90B) | ($121.00M) | ($340.00M) |
| Financing Cash Flow | ($121.00M) | $245.00M | ($532.00M) | $1.76B | $917.00M | $99.00M |
| CapEx | $96.00M | $84.00M | $86.00M | $79.00M | $55.00M | $38.00M |
| Free Cash Flow | $663.00M | $536.00M | $428.00M | $191.00M | $127.00M | $458.00M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 31.4% | 31.0% | 28.0% | 26.1% | 23.8% | 21.1% |
| Operating margin | 7.0% | 6.9% | 5.2% | 2.5% | 3.5% | -4.6% |
| EBITDA margin | 8.1% | 8.0% | 6.3% | 3.6% | 5.4% | -2.4% |
| Net margin | 3.8% | 3.6% | 2.2% | 1.1% | 1.2% | -4.3% |
| Free cash flow margin | 8.4% | 7.6% | 6.2% | 2.9% | 3.2% | 12.8% |
| FCF / Net income | 2.20 | 2.14 | 2.80 | 2.62 | 2.70 | -2.99 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 24.4% | 24.1% | 22.8% | 23.7% | 20.4% | 20.2% |
| Effective tax rate | 26.9% | 24.2% | 34.1% | 21.5% | 40.5% | - |
| Return on assets | 3.4% | 3.1% | 2.0% | 0.9% | 0.9% | -3.8% |
| Return on equity | 8.9% | 8.5% | 7.4% | 3.4% | 2.0% | -9.8% |
| Return on invested capital | 6.6% | 6.4% | 5.4% | 2.7% | 2.0% | -4.4% |
| Liquidity | ||||||
| Current ratio | 1.50 | 1.41 | 1.43 | 1.38 | 3.03 | 1.71 |
| Quick ratio | 1.43 | 1.33 | 1.35 | 1.30 | 2.95 | 1.63 |
| Cash ratio | 0.42 | 0.26 | 0.27 | 0.31 | 1.37 | 0.61 |
| Leverage | ||||||
| Debt / Equity | 0.81 | 0.93 | 1.12 | 1.21 | 0.76 | 0.90 |
| Debt / Assets | 0.31 | 0.34 | 0.31 | 0.32 | 0.34 | 0.34 |
| Debt / EBITDA | 4.31 | 4.87 | 5.30 | 10.81 | 8.37 | - |
| Interest coverage | - | - | 2.5x | 1.3x | 2.3x | -3.2x |
| Equity multiplier | 2.62 | 2.76 | 3.66 | 3.80 | 2.22 | 2.61 |
| Liabilities / Assets | 0.62 | 0.64 | 0.62 | 0.64 | 0.55 | 0.62 |
| Efficiency | ||||||
| Asset turnover | 0.89 | 0.86 | 0.91 | 0.81 | 0.76 | 0.88 |
| Inventory turnover | 37.41 | 33.85 | 33.25 | 29.72 | 43.49 | 44.23 |
| Days sales outstanding | 72d | 75d | 73d | 73d | 71d | 65d |
| Days inventory outstanding | 10d | 11d | 11d | 12d | 8d | 8d |
| Days payable outstanding | 35d | 37d | 35d | 37d | 29d | 19d |
| Cash conversion cycle | 46d | 48d | 50d | 48d | 51d | 54d |
| Valuation | ||||||
| P / E | - | - | - | 188.1x | - | - |
| P / B | 4.7x | 2.2x | 2.6x | 1.6x | 1.5x | 1.3x |
| P / S | 2.0x | 0.9x | 0.8x | 0.5x | 0.9x | 0.6x |
| EV / EBITDA | 27.8x | 15.4x | 16.6x | 22.2x | 19.5x | - |
| Growth | ||||||
| Revenue growth (YoY) | 12.7% | 1.3% | 5.6% | 66.4% | 9.8% | - |
| Revenue CAGR (3y) | 6.5% | 21.2% | 24.5% | - | - | - |
| Revenue CAGR (5y) | 17.1% | - | - | - | - | - |
| Gross profit growth (YoY) | 14.2% | 12.3% | 13.2% | 82.5% | 24.2% | - |
| Operating income growth (YoY) | 14.5% | 34.8% | 121.6% | 19.1% | - | - |
| Net income growth (YoY) | 20.8% | 63.4% | 109.6% | 55.3% | - | - |
| EPS growth (YoY) | -23.2% | -23.5% | - | - | 69.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 23.7% | 25.2% | 124.1% | 50.4% | -72.3% | - |
| FCF CAGR (5y) | 7.7% | - | - | - | - | - |
| Book value growth (YoY) | 15.4% | 42.6% | -2.6% | -8.4% | 49.1% | - |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.47
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
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.