APGNYSEServices-To Dwellings & Other BuildingsFiscal year ends December 31
APi Group Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$40.07−0.08 (-0.20%)
Close on Oct 19, 2026
- Market cap
- $17.51B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
31.4%+10.4 pts over 5 years
Operating margin
7.0%+11.6 pts over 5 years
Net margin
3.8%+8.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.7% | +6.5% | +17.1% | – | |
| Gross profit | +14.2% | +13.2% | +26.9% | – | |
| Operating income | +14.5% | +50.7% | – | – | |
| Net income | +20.8% | +60.5% | – | – | |
| Free cash flow | +23.7% | +51.4% | +7.7% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -9.2% | 9.5% | |
| Return on assets | – | -3.8% | 3.5% | |
| Current ratio | – | 1.71 | 1.50 | |
| Debt to equity | – | – | 0.81 | |
| Interest coverage | – | -3.2× | – | |
| Inventory turnover | – | 46.4× | 37.7× | |
| Capex to revenue | – | 1.1% | 1.2% | |
| Diluted shares | – | 254M | 416M |
Where the cash went
Fiscal 2021 to 2025, five years combined
APi generated $2.35B from operations and spent $560.00M on capital expenditure, dividends and share buybacks. 71% of that went back into the business.
Generated
$2.35B
Used
$560.00M
Capital expenditure$400.00M71%Dividends$00%Share buybacks$160.00M29%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin3.8%
×Asset turnover0.93×
×Equity multiplier2.69×
=Return on equity, FY20259.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 3.8% | 0.93× | 2.69× | 9.5% |
| FY2024 | 3.6% | 0.89× | 3.13× | 10.0% |
| FY2023 | 2.2% | 0.88× | 3.74× | 7.3% |
| FY2022 | 1.1% | 0.99× | 2.98× | 3.3% |
| FY2021 | 1.2% | 0.85× | 2.38× | 2.4% |
| FY2020 | -4.3% | 0.89× | 2.44× | -9.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$302.00M
- Cash generatingOperating cash flow above zero$759.00M
- Return on assets improvedROA up on the prior year3.3% → 3.7%
- Earnings backed by cashOperating cash flow above net income$759.00M vs $302.00M
- Less leverageLong-term debt to assets fell33.7% → 30.8%
- Better liquidityCurrent ratio rose1.41 → 1.50
- No dilutionShare count did not rise402M → 416M
- Gross margin improvedGross margin up on the prior year31.03% → 31.44%
- More efficientAsset turnover rose0.92 → 0.97