APi Group Corp (APG)
APi Group Corporation operates as a global enterprise offering vital safety, specialized infrastructure, and industrial services across North America, Europe, Australia, and the Asia-Pacific region. Its business activities are segmented into three primary divisions: Safety Services, Specialty Services, and Industrial Services. The Safety Services division delivers comprehensive safety solutions, with a particular focus on integrated occupancy systems. This encompasses the full lifecycle of services for fire protection, heating, ventilation, and air conditioning (HVAC), and entry systems, from their initial design and installation to ongoing inspection, monitoring, and maintenance. The Specialty Services segment is dedicated to the upkeep and enhancement of critical infrastructure, including subterranean electric, gas, water, sewer, and telecommunications networks, as well as specialized industrial facilities. This segment's offerings span a broad range of services, including engineering, design, fabrication, installation, and the modernization or upgrading of existing systems. Within the Industrial Services segment, APi Group provides a variety of solutions primarily to the energy industry, emphasizing transmission and distribution. Its services include the construction of pipeline infrastructure, access roads, and supporting facilities, alongside integrity management and maintenance to ensure the longevity and reliability of these assets. The company serves a diverse clientele that spans both public and private sectors. This extensive customer base includes commercial, industrial, and manufacturing operations, fulfillment and distribution centers, educational and healthcare institutions, telecommunications firms, utility providers, high-tech companies, entertainment venues, retailers, financial service organizations, and governmental entities. Formed in 1926, APi Group Corporation adopted its current name in October 2019, having previously been known as J2 Acquisition Limited. The company's corporate headquarters are situated in New Brighton, Minnesota.
Sector: Services-To Dwellings & Other Buildings
Industry: Engineering & Construction
APi Group Corporation
- 1.5:1Forward splitJul 1, 20251 share → 1.5
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $7.91B | $7.02B | $6.93B | $6.56B | $3.94B | $3.59B | $985M | $3.73B | $3.05B |
| YoY Growth | 12.7% | 1.3% | 5.6% | 66.4% | 9.8% | 264.2% | -73.6% | 22.4% | - |
| Cost of Revenue | $5.42B | $4.84B | $4.99B | $4.84B | $3B | $2.83B | $787M | $2.94B | $2.38B |
| Gross Profit | $2.49B | $2.18B | $1.94B | $1.71B | $939M | $756M | $198M | $787M | $664M |
| Gross Margin | 31.4% | 31.0% | 28.0% | 26.1% | 23.8% | 21.1% | 20.1% | 21.1% | 21.8% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $1.93B | $1.69B | $1.58B | $1.55B | $803M | $725M | $359M | $625M | $511M |
| Other | $0 | $0 | $0 | $0 | $0 | $197M | $0 | $0 | $0 |
| Total Operating Expenses | $1.93B | $1.69B | $1.58B | $1.55B | $803M | $922M | $359M | $625M | $511M |
| Operating Income (EBIT) | $554M | $484M | $359M | $162M | $136M | -$166M | -$161M | $162M | $123M |
| Operating Margin | 7.0% | 6.9% | 5.2% | 2.5% | 3.5% | -4.6% | -16.3% | 4.3% | 4.0% |
| Interest Expense | $141M | $146M | $145M | $125M | $60M | $52M | $15M | $22M | $8M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$141M | -$154M | -$127M | -$69M | -$57M | -$18M | $10M | -$16M | -$114.44M |
| Income Before Tax (EBT) | $413M | $330M | $232M | $93M | $79M | -$184M | -$151M | $146M | $120M |
| Income Tax Expense | $111M | $80M | $79M | $20M | $32M | -$31M | $2M | $10M | $8M |
| Net Income | $302M | $250M | $153M | $73M | $47M | -$153M | -$153M | $136M | $112M |
| Net Income Margin | 3.8% | 3.6% | 2.2% | 1.1% | 1.2% | -4.3% | -15.5% | 3.6% | 3.7% |
| Supplementary Data | |||||||||
| EPS | -0.69 | -0.56 | -0.46 | 0.08 | -0.44 | -1.48 | -1.01 | 0.78 | 0.07 |
| Diluted EPS | -0.69 | -0.56 | -0.46 | 0.07 | -0.44 | -1.48 | -0.59 | 0.78 | 0.07 |
| Weighted Average OS | 416.00M | 401.51M | 352.71M | 349.80M | 308.64M | 254.22M | 151.15M | 175.15M | 121.03M |
| EBITDA | $982M | $778M | $680M | $522M | $341M | $131M | -$67M | $277M | $67.14M |
| EBITDA Margin | 12.4% | 11.1% | 9.8% | 8.0% | 8.7% | 3.7% | -6.8% | 7.4% | 2.2% |
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $912M | $499M | $479M | $605M | $1.19B | $515M | $256M | $54M | $19.04M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.21B |
| Cash and Short-Term Investments | $912M | $499M | $479M | $605M | $1.19B | $515M | $256M | $54M | $1.23B |
| Accounts Receivable | $2.05B | $1.9B | $1.83B | $1.77B | $984M | $781M | $975M | $1B | $0 |
| Inventory | $145M | $143M | $150M | $163M | $69M | $64M | $58M | $56M | $0 |
| Other Current Assets | $125M | $119M | $122M | $0 | $302M | $0 | $20M | -$1.19B | $0 |
| Total Current Assets | $3.23B | $2.66B | $2.58B | $2.65B | $2.63B | $1.44B | $1.34B | $1.14B | $1.23B |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $698M | $647M | $618M | $629M | $427M | $462M | $507M | $328M | $0 |
| Goodwill | $3.17B | $2.89B | $2.47B | $2.38B | $1.11B | $1.08B | $980M | $320M | $0 |
| Intangible Assets | $1.58B | $1.66B | $1.62B | $1.78B | $882M | $965M | $1.12B | $204M | $0 |
| Long-Term Investments | $0 | $125M | $11M | $4M | $4M | $9M | $6M | $0 | $0 |
| Deferred Tax Assets | $40M | $57M | $113M | $108M | $73M | $89M | -$6M | $0 | $0 |
| Other Long-Term Assets | $218M | $111M | $175M | $532M | $41M | $21M | $61M | $47M | $0 |
| Total Long-Term Assets | $5.71B | $5.49B | $5.01B | $5.44B | $2.53B | $2.63B | $2.67B | $899M | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $8.94B | $8.15B | $7.59B | $8.09B | $5.16B | $4.07B | $4.01B | $2.04B | $1.23B |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $526M | $497M | $472M | $490M | $236M | $150M | $156M | $174M | $0 |
| Short-Term Debt | $5M | $4M | $5M | $206M | $1M | $18M | $19M | $295M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $694M | $590M | $526M | $463M | $243M | $219M | $193M | $203M | $0 |
| Other Current Liabilities | $60M | $20M | $366M | $352M | $151M | $241M | $279M | $42M | $0 |
| Total Current Liabilities | $2.15B | $1.89B | $1.81B | $1.92B | $867M | $841M | $823M | $999M | $16K |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $2.75B | $2.75B | $2.32B | $2.58B | $1.77B | $1.4B | $1.17B | $305M | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $93M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $205M | $198M | $233M | $340M | $43M | $45M | $23M | $0 | $0 |
| Other Long-Term Liabilities | $204M | $175M | $188M | $954M | $81M | $128M | $49M | $104M | $0 |
| Total Long-Term Liabilities | $3.38B | $3.31B | $2.92B | $4.04B | $1.97B | $1.67B | $1.43B | $409M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $5.53B | $5.2B | $4.72B | $5.96B | $2.84B | $2.51B | $2.25B | $1.41B | $16K |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $797M | $0 | $0 | $0 | $0 | $40M | $0 |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.19B | $0 |
| Retained Earnings | $517M | $215M | -$11M | -$164M | -$237M | -$284M | -$128M | $663M | $2.14M |
| Comprehensive Income & Other | -$405M | -$567M | -$490M | -$267M | $0 | -$14M | $3M | -$28M | $0 |
| Other Stockholders' Equity | $2.89B | $2.74B | $2.88B | $2.29B | $2.56B | $1.84B | $1.89B | -$1.22B | $1.23B |
| Total Equity | $3.41B | $2.95B | $2.87B | $2.13B | $2.32B | $1.56B | $1.76B | $633M | $1.23B |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $8.94B | $8.15B | $7.59B | $8.09B | $5.16B | $4.07B | $4.01B | $2.04B | $1.23B |
| Supplementary Data | |||||||||
| Total Debt | $3.07B | $3.04B | $2.57B | $3.03B | $1.87B | $1.54B | $1.31B | $600M | $0 |
| Net Debt | $2.16B | $2.54B | $2.1B | $2.42B | $685M | $1.03B | $1.06B | $546M | -$19.04M |
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | $302M | $250M | $153M | $73M | $47M | -$153M | -$153M | $136M | $112M |
| Depreciation & Amortization | $327M | $302M | $303M | $304M | $202M | $263M | $69M | $109M | $69M |
| Deferred Income Tax | $15M | -$30M | -$32M | -$47M | $6M | -$74M | -$2M | $0 | $0 |
| Stock-Based Compensation | $44M | $32M | $29M | $18M | $12M | $5M | $156M | $3M | $10M |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | -$74M | -$11M | -$43M | -$217M | -$172M | $238M | $146M | -$173M | -$106M |
| Inventory | $6M | $9M | $13M | -$30M | -$2M | $11M | $0 | -$9M | -$1M |
| Accounts Payable | $5M | $16M | -$14M | $71M | $78M | -$24M | -$32M | $1M | $5M |
| Other Working Capital | -$20M | -$55M | -$6M | $65M | -$51M | -$11M | -$32M | $46M | $3M |
| Total Working Capital Change | -$83M | -$41M | -$50M | -$111M | -$147M | $214M | $82M | -$135M | -$99M |
| Other Non-Cash Items | $154M | $107M | $111M | $33M | $62M | $241M | -$2M | -$1M | $26M |
| Net Cash from Operating | $759M | $620M | $514M | $270M | $182M | $496M | $150M | $112M | $118M |
| Investing Activities | |||||||||
| Capital Expenditures | -$96M | -$84M | -$86M | -$79M | -$55M | -$38M | -$11M | -$74M | -$39M |
| Acquisitions | -$186M | -$778M | -$83M | -$2.84B | -$86M | -$319M | -$2.56B | -$234M | -$63M |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | -$816M | -$3.06B | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $816M | $1.83B | $0 |
| Other Investing Activities | $28M | $33M | $54M | $17M | $20M | $17M | $848M | $8M | $46M |
| Net Cash from Investing | -$254M | -$829M | -$115M | -$2.9B | -$121M | -$340M | -$1.73B | -$300M | -$56M |
| Financing Activities | |||||||||
| Debt Repaid | $7M | -$413M | $484M | -$1.04B | -$329M | -$229M | -$1.19B | $12M | $10M |
| Common Stock Issuance | $0 | $458M | $0 | $797M | $676M | $3M | $210M | $1.23B | $0 |
| Common Stock Repurchases | -$75M | -$600M | -$41M | -$44M | $0 | -$30M | $0 | $0 | -$1M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$74M | -$111M |
| Other Financing Activities | -$39M | -$26M | -$7M | -$37M | -$88M | -$103M | -$26M | -$26M | -$34M |
| Net Cash from Financing | -$121M | $245M | -$532M | $1.76B | $917M | $99M | $1.4B | $203M | -$106M |
| Forex Effect | $28M | -$15M | $6M | -$9M | -$2M | $4M | -$1M | -$2M | $3M |
| Net Change in Cash | $412M | $21M | -$127M | -$884M | $976M | $259M | -$181M | $13M | -$41M |
| Supplementary Data | |||||||||
| Operating Cash Flow | $759M | $620M | $514M | $270M | $182M | $496M | $150M | $112M | $118M |
| Capital Expenditure | -$96M | -$84M | -$86M | -$79M | -$55M | -$38M | -$11M | -$74M | -$39M |
| Free Cash Flow | $663M | $536M | $428M | $191M | $127M | $458M | $139M | $38M | $79M |
| Cash at Beginning | $501M | $480M | $607M | $1.49B | $515M | $256M | $437M | $41M | $82M |
| Cash at End | $913M | $501M | $480M | $607M | $1.49B | $515M | $256M | $54M | $41M |