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APi Group Corporation

Rank #271Op. LeverageWatchlistCompare with other stocks

APG · NYSE · Industrials

APi Group Corporation (APG) — Rank #271 by gross profitability (GP/assets 0.25) · ROE 8.6% · Piotroski F-Score 8 / 9.

As-of 2026-10-30 · CIK 0001796209 · all metrics point-in-time as of the filing date.

About

APi Group Corporation provides fire and life safety, security, elevator and escalator, and specialty services worldwide.

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It operates in two segments, Safety Services and Specialty Services. The company offers fire protection solutions; electronic security systems; and elevators and escalators, including the design, installation, inspection, service, and monitoring of life safety systems to high tech services, advanced manufacturing, healthcare, fulfillment and distribution centers, and critical infrastructure end markets. It also provides various specialty contracting, fabrication and distribution, and infrastructure and utility services to critical infrastructure, high tech services, and healthcare end markets. The company was formerly known as J2 Acquisition Limited and changed its name to APi Group Corporation in October 2019.

APi Group Corporation was founded in 1926 and is headquartered in New Brighton, Minnesota.

Industry
Engineering & Construction
Sector
Industrials
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

29,000

Industry

Engineering & Construction

Exchange

NYSE

11/12

Flags passed

APG passes 11/12 quality flags

1 caution to review

  • CAUTION
    Dilution above 2%

    Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

  • PASS
    Gross margin holding
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Operating leverage expanding · Deferred revenue growing · RPO outpacing revenue · Sequential beat (rev + EPS)

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.25
Return on equity
8.6%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.83
Current ratio
1.39×
Net cash
-$2.67B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.6%

Growth

1/2 pass
Revenue growth
12.7%
Piotroski F-Score
8 / 9
Share dilution
3.5%

Operating margin expansion and free cash flow are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 18th percentile of 96 SIC 73 peers

Gross profitability (GP / assets)

0.25

Primary signal (Novy-Marx).

18th pctl of 96 SIC 73 peers

Return on equity

8.6%

Gross margin

31.4%

11th pctl of 95 SIC 73 peers

Revenue growth (YoY)

12.7%

RPO growth (YoY)

18.6%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

6.5%

Revenue CAGR (5Y)

17.1%

Earnings CAGR (3Y)

60.5%

FCF CAGR (3Y)

51.4%

Cash Flow Health

Is the cash real?

No warning flags · FCF 120% above net income

Free cash flow

$663.00M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

119.5%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.6%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

Caution: Dilution above 2% · net debt $2.67B, F-Score 8/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.83

2nd pctl of 87 SIC 73 peers (best = lowest)

Current ratio

1.39×

27th pctl of 95 SIC 73 peers

Quick ratio

1.01×

Net cash

-$2.67B

Cash & equivalents minus total debt.

Piotroski F-Score

8 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

2.7 / 5

Fair
Share count trend
3.5%1/5 Weak
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
4.6%4/5 Strong

Lifecycle Phase History

20202025
Hypergrowth
Value
Capital Return
Op. Leverage

Price History

APG+175.5% · +22.4% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports