APi Group Corporation (APG) 10-Year Financial Performance & Capital Metrics

APG • • Industrial / General

IndustrialsEngineering & ConstructionElectrical & Mechanical ContractingBuilding Systems Contractors

AboutAPi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems. The Specialty Services segment provides infrastructure and specialized industrial plant services, including maintenance and repair of underground electric, gas, water, sewer, and telecommunications infrastructure. This segment also offers engineering and design, fabrication, installation, and retrofitting and upgrading services. The Industrial Services segment provides various services and solutions comprising pipeline infrastructure, access and road construction, supporting facilities, and integrity management and maintenance to the energy industry focused on transmission and distribution. It serves customers in the public and private sectors, including commercial, industrial, fulfillment centers, distribution, manufacturing, education, healthcare, telecom, transmission, utilities, high tech, entertainment, retail, financial services, and governmental 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.Show more

Revenue $7.02B +1.3%
EBITDA $786M +18.7%
Net Income $250M +63.4%
EPS (Diluted) -0.56 -21.7%
Gross Margin 31.03% +10.8%
EBITDA Margin 11.2% +17.2%
Operating Margin 6.9% +33.1%
Net Margin 3.56% +61.3%
ROE 8.59% +40.2%
ROIC 6.95% +22.7%
Debt/Equity 1.03 +14.5%
Interest Coverage 3.32 +33.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 48.1%
✓Trading near 52-week high

✗Weaknesses

✗Shares diluted 13.8% in last year
✗Thin 5Y average net margin of 0.8%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y48.1%

3Y21.22%

TTM10.69%

Profit (Net Income) CAGR

10Y-

5Y-

3Y74.56%

TTM26.44%

EPS CAGR

10Y-

5Y-

3Y-

TTM128.85%

ROCE

10Y Avg4.03%

5Y Avg3.12%

3Y Avg5.71%

Latest8.03%

Peer Comparison

Building Systems Contractors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MAGHMagnitude International Ltd Ordinary Shares	225.45M	6.76	5633.33	-36.54%	0.28%	3.37%		3.90
MYRGMYR Group Inc.	3.79B	244.19	133.44	-7.73%	2.78%	15.84%	0.29%	0.20
ECGEverus Construction Group, Inc.	4.55B	89.30	31.78	-0.16%	5.18%	31.58%	2.53%	0.86
EMEEMCOR Group, Inc.	30.54B	682.13	31.70	15.76%	6.96%	33.88%	4.37%	0.12
IESCIES Holdings, Inc.	8.62B	432.69	28.81	16.89%	9.08%	34.46%	2.54%	0.10
BLDTopBuild Corp.	14.05B	500.68	24.68	2.6%	10.84%	25.54%	5.03%	0.71
MIMIMint Incorporation Limited	6.07M	0.30	-4.70	-25.48%	-54.55%	-26.04%		0.22
OFALOFA Group	6.84M	0.48	-7.48	-61.93%	-110.27%

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.05B	3.73B	985M	3.59B	3.94B	6.56B	6.93B	7.02B
Revenue Growth %	-	0.22%	-0.74%	2.64%	0.1%	0.66%	0.06%	0.01%
Cost of Goods Sold+	2.38B	2.94B	787M	2.83B	3B	4.84B	4.99B	4.84B
COGS % of Revenue	0.78%	0.79%	0.8%	0.79%	0.76%	0.74%	0.72%	0.69%
Gross Profit+	664M	787M	198M	756M	939M	1.71B	1.94B	2.18B
Gross Margin %	0.22%	0.21%	0.2%	0.21%	0.24%	0.26%	0.28%	0.31%
Gross Profit Growth %	-	0.19%	-0.75%	2.82%	0.24%	0.83%	0.13%	0.12%
Operating Expenses+	511M	625M	359M	922M	803M	1.55B	1.58B	1.69B
OpEx % of Revenue	0.17%	0.17%	0.36%	0.26%	0.2%	0.24%	0.23%	0.24%
Selling, General & Admin	511M	625M	359M	725M	803M	1.55B	1.58B	1.69B
SG&A % of Revenue	0.17%	0.17%	0.36%	0.2%	0.2%	0.24%	0.23%	0.24%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	197M	0	0	0	0
Operating Income+	123M	162M	-161M	-166M	136M	162M	359M	484M
Operating Margin %	0.04%	0.04%	-0.16%	-0.05%	0.03%	0.02%	0.05%	0.07%
Operating Income Growth %	-	0.32%	-1.99%	-0.03%	1.82%	0.19%	1.22%	0.35%
EBITDA+	124.86M	271M	-92M	97M	338M	466M	662M	786M
EBITDA Margin %	0.04%	0.07%	-0.09%	0.03%	0.09%	0.07%	0.1%	0.11%
EBITDA Growth %	-	1.17%	-1.34%	2.05%	2.48%	0.38%	0.42%	0.19%
D&A (Non-Cash Add-back)	1.86M	109M	69M	263M	202M	304M	303M	302M
EBIT	-1.86M	168M	-136M	-132M	139M	218M	377M	476M
Net Interest Income+	0	-22M	-15M	-52M	-60M	-125M	-145M	-146M
Interest Income	0	0	0	0	0	0	0	0
Interest Expense	8M	22M	15M	52M	60M	125M	145M	146M
Other Income/Expense	-114.44M	-16M	10M	-18M	-57M	-69M	-127M	-154M
Pretax Income+	120M	146M	-151M	-184M	79M	93M	232M	330M
Pretax Margin %	0.04%	0.04%	-0.15%	-0.05%	0.02%	0.01%	0.03%	0.05%
Income Tax+	8M	10M	2M	-31M	32M	20M	79M	80M
Effective Tax Rate %	0.93%	0.93%	1.01%	0.83%	0.59%	0.78%	0.66%	0.76%
Net Income+	112M	136M	-153M	-153M	47M	73M	153M	250M
Net Margin %	0.04%	0.04%	-0.16%	-0.04%	0.01%	0.01%	0.02%	0.04%
Net Income Growth %	-	0.21%	-2.13%	0%	1.31%	0.55%	1.1%	0.63%
Net Income (Continuing)	8.56M	136M	-153M	-153M	47M	73M	153M	250M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.07	0.78	-0.59	-1.48	-0.44	0.07	-0.46	-0.56
EPS Growth %	-	10.39%	-1.76%	-1.51%	0.7%	1.17%	-7.33%	-0.22%
EPS (Basic)	0.07	0.78	-1.01	-1.48	-0.44	0.08	-0.46	-0.56
Diluted Shares Outstanding	121.03M	175.15M	260.85M	254.22M	308.64M	399.12M	352.71M	401.51M
Basic Shares Outstanding	121.03M	175.15M	151.15M	254.22M	308.64M	349.8M	352.71M	401.51M
Dividend Payout Ratio	0.99%	0.54%	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.23B	1.14B	1.34B	1.44B	2.63B	2.65B	2.58B	2.66B
Cash & Short-Term Investments	1.23B	54M	256M	515M	1.19B	605M	479M	499M
Cash Only	19.04M	54M	256M	515M	1.19B	605M	479M	499M
Short-Term Investments	1.21B	0	0	0	0	0	0	0
Accounts Receivable	0	1B	975M	781M	984M	1.77B	1.83B	1.9B
Days Sales Outstanding	-	98.4	361.29	79.47	91.16	98.62	96.47	98.66
Inventory	0	56M	58M	64M	69M	163M	150M	143M
Days Inventory Outstanding	-	6.95	26.9	8.25	8.39	12.28	10.98	10.78
Other Current Assets	0	-1.19B	20M	0	302M	0	122M	119M
Total Non-Current Assets+	0	899M	2.67B	2.63B	2.53B	5.44B	5.01B	5.49B
Property, Plant & Equipment	0	328M	507M	462M	427M	629M	618M	647M
Fixed Asset Turnover	-	11.37x	1.94x	7.76x	9.23x	10.43x	11.21x	10.85x
Goodwill	0	320M	980M	1.08B	1.11B	2.38B	2.47B	2.89B
Intangible Assets	0	204M	1.12B	965M	882M	1.78B	1.62B	1.66B
Long-Term Investments	0	0	6M	9M	4M	4M	11M	125M
Other Non-Current Assets	0	47M	61M	21M	41M	532M	175M	111M
Total Assets+	1.23B	2.04B	4.01B	4.07B	5.16B	8.09B	7.59B	8.15B
Asset Turnover	2.48x	1.83x	0.25x	0.88x	0.76x	0.81x	0.91x	0.86x
Asset Growth %	-	0.66%	0.97%	0.01%	0.27%	0.57%	-0.06%	0.07%
Total Current Liabilities+	16K	999M	823M	841M	867M	1.92B	1.81B	1.89B
Accounts Payable	0	174M	156M	150M	236M	490M	472M	497M
Days Payables Outstanding	-	21.59	72.35	19.34	28.7	36.92	34.54	37.48
Short-Term Debt	0	295M	19M	18M	1M	206M	5M	4M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	0	42M	279M	241M	151M	352M	366M	1.29B
Current Ratio	76856.56x	1.14x	1.63x	1.71x	3.03x	1.38x	1.43x	1.41x
Quick Ratio	76856.56x	1.09x	1.56x	1.63x	2.95x	1.30x	1.35x	1.33x
Cash Conversion Cycle	-	83.75	315.84	68.38	70.85	73.98	72.9	71.97
Total Non-Current Liabilities+	0	409M	1.43B	1.67B	1.97B	4.04B	2.92B	3.31B
Long-Term Debt	0	305M	1.17B	1.4B	1.77B	2.58B	2.32B	2.75B
Capital Lease Obligations	0	0	95M	96M	79M	166M	172M	192M
Deferred Tax Liabilities	0	0	23M	45M	43M	340M	233M	198M
Other Non-Current Liabilities	0	104M	49M	128M	81M	954M	188M	175M
Total Liabilities	16K	1.41B	2.25B	2.51B	2.84B	5.96B	4.72B	5.2B
Total Debt+	0	600M	1.31B	1.54B	1.87B	3.03B	2.57B	3.04B
Net Debt	-19.04M	546M	1.06B	1.03B	685M	2.42B	2.1B	2.54B
Debt / Equity	-	0.95x	0.75x	0.99x	0.81x	1.42x	0.90x	1.03x
Debt / EBITDA	-	2.21x	-	15.90x	5.54x	6.50x	3.89x	3.86x
Net Debt / EBITDA	-0.15x	2.01x	-	10.59x	2.03x	5.20x	3.16x	3.23x
Interest Coverage	15.38x	7.36x	-10.73x	-3.19x	2.27x	1.30x	2.48x	3.32x
Total Equity+	1.23B	633M	1.76B	1.56B	2.32B	2.13B	2.87B	2.95B
Equity Growth %	-	-0.49%	1.78%	-0.11%	0.49%	-0.08%	0.35%	0.03%
Book Value per Share	10.16	3.61	6.74	6.13	7.53	5.33	8.13	7.35
Total Shareholders' Equity	1.23B	633M	1.76B	1.56B	2.32B	2.13B	2.87B	2.95B
Common Stock	0	1.19B	0	0	0	0	0	0
Retained Earnings	2.14M	663M	-128M	-284M	-237M	-164M	-11M	215M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	0	-28M	3M	-14M	0	-267M	-490M	-567M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	118M	112M	150M	496M	182M	270M	514M	620M
Operating CF Margin %	0.04%	0.03%	0.15%	0.14%	0.05%	0.04%	0.07%	0.09%
Operating CF Growth %	-	-0.05%	0.34%	2.31%	-0.63%	0.48%	0.9%	0.21%
Net Income	112M	136M	-153M	-153M	47M	73M	153M	250M
Depreciation & Amortization	69M	109M	69M	263M	202M	304M	303M	302M
Stock-Based Compensation	10M	3M	156M	5M	12M	18M	29M	32M
Deferred Taxes	0	0	-2M	-74M	6M	-47M	-32M	-30M
Other Non-Cash Items	26M	-1M	-2M	241M	62M	33M	111M	107M
Working Capital Changes	-99M	-135M	82M	214M	-147M	-111M	-50M	-41M
Change in Receivables	-106M	-173M	146M	238M	-172M	-217M	-43M	-11M
Change in Inventory	-1M	-9M	0	11M	-2M	-30M	13M	9M
Change in Payables	5M	1M	-32M	-24M	78M	71M	-14M	16M
Cash from Investing+	-56M	-300M	-1.73B	-340M	-121M	-2.9B	-115M	-829M
Capital Expenditures	-39M	-74M	-11M	-38M	-55M	-79M	-86M	-84M
CapEx % of Revenue	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	46M	8M	848M	17M	20M	17M	54M	33M
Cash from Financing+	-106M	203M	1.4B	99M	917M	1.76B	-532M	245M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	-111M	-74M	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	-34M	-26M	-26M	-103M	-88M	-37M	-7M	-26M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	79M	38M	139M	458M	127M	191M	428M	536M
FCF Margin %	0.03%	0.01%	0.14%	0.13%	0.03%	0.03%	0.06%	0.08%
FCF Growth %	-	-0.52%	2.66%	2.29%	-0.72%	0.5%	1.24%	0.25%
FCF per Share	0.65	0.22	0.53	1.80	0.41	0.48	1.21	1.33
FCF Conversion (FCF/Net Income)	1.05x	0.82x	-0.98x	-3.24x	3.87x	3.70x	3.36x	2.48x
Interest Paid	8M	0	14M	47M	41M	120M	150M	152M
Taxes Paid	8M	-9M	3M	29M	66M	43M	95M	101M

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.11%	14.6%	-12.8%	-9.23%	2.42%	3.28%	6.13%	8.59%
Return on Invested Capital (ROIC)	7.62%	10.17%	-6.05%	-4.61%	3.65%	3.22%	5.66%	6.95%
Gross Margin	21.8%	21.11%	20.1%	21.08%	23.83%	26.14%	28%	31.03%
Net Margin	3.68%	3.65%	-15.53%	-4.27%	1.19%	1.11%	2.21%	3.56%
Debt / Equity	-	0.95x	0.75x	0.99x	0.81x	1.42x	0.90x	1.03x
Interest Coverage	15.38x	7.36x	-10.73x	-3.19x	2.27x	1.30x	2.48x	3.32x
FCF Conversion	1.05x	0.82x	-0.98x	-3.24x	3.87x	3.70x	3.36x	2.48x
Revenue Growth	-	22.39%	-73.58%	264.16%	9.84%	66.45%	5.64%	1.3%

Revenue by Segment

	2020	2021	2022	2024
Life Safety	1.32B	1.64B	4.03B	4.74B
Life Safety Growth	-	24.75%	144.98%	17.81%
Infrastructure Utility	809M	791M	1.15B	997M
Infrastructure Utility Growth	-	-2.22%	45.89%	-13.60%
Specialty Contracting	413M	614M	623M	571M
Specialty Contracting Growth	-	48.67%	1.47%	-8.35%
Heating Ventilation And Air Conditioning	-	437M	550M	485M
Heating Ventilation And Air Conditioning Growth	-	-	25.86%	-11.82%
Fabrication	179M	248M	253M	230M
Fabrication Growth	-	38.55%	2.02%	-9.09%
Safety Services	1.64B	2.08B	4.58B	-
Safety Services Growth	-	26.91%	119.95%	-
Specialty Services	1.4B	1.65B	2.03B	-
Specialty Services Growth	-	17.99%	22.81%	-
Corporate And Eliminations	-16M	-	-47M	-
Corporate And Eliminations Growth	-	-	-	-
Industrial Services	563M	277M	-	-
Industrial Services Growth	-	-50.80%	-	-
Transmission	409M	205M	-	-
Transmission Growth	-	-49.88%	-	-
Civil	67M	72M	-	-
Civil Growth	-	7.46%	-	-
Mechanical	322M	-	-	-
Mechanical Growth	-	-	-	-
Inspection	87M	-	-	-
Inspection Growth	-	-	-	-

Revenue by Geography

	2020	2021	2022	2024
Americas	3.35B	3.56B	4.06B	4.38B
Americas Growth	-	6.39%	14.07%	7.90%
Other Countries	-	-	1.93B	2B
Other Countries Growth	-	-	-	3.42%
FRANCE	-	-	564M	637M
FRANCE Growth	-	-	-	12.94%
Canada And Europe	240M	379M	-	-
Canada And Europe Growth	-	57.92%	-	-

Frequently Asked Questions

Growth & Financials

APi Group Corporation (APG) reported $7.66B in revenue for fiscal year 2024. This represents a 151% increase from $3.05B in 2017.

APi Group Corporation (APG) grew revenue by 1.3% over the past year. Growth has been modest.

Yes, APi Group Corporation (APG) is profitable, generating $263.0M in net income for fiscal year 2024 (3.6% net margin).

Dividend & Returns

APi Group Corporation (APG) has a return on equity (ROE) of 8.6%. This is below average, suggesting room for improvement.

APi Group Corporation (APG) generated $572.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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APi Group Corporation (APG) 10-Year Financial Performance & Capital Metrics

APG • • Industrial / General

IndustrialsEngineering & ConstructionElectrical & Mechanical ContractingBuilding Systems Contractors

Revenue $7.02B +1.3%
EBITDA $786M +18.7%
Net Income $250M +63.4%
EPS (Diluted) -0.56 -21.7%
Gross Margin 31.03% +10.8%
EBITDA Margin 11.2% +17.2%
Operating Margin 6.9% +33.1%
Net Margin 3.56% +61.3%
ROE 8.59% +40.2%
ROIC 6.95% +22.7%
Debt/Equity 1.03 +14.5%
Interest Coverage 3.32 +33.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 48.1%
✓Trading near 52-week high

✗Weaknesses

✗Shares diluted 13.8% in last year
✗Thin 5Y average net margin of 0.8%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y48.1%

3Y21.22%

TTM10.69%

Profit (Net Income) CAGR

10Y-

5Y-

3Y74.56%

TTM26.44%

EPS CAGR

10Y-

5Y-

3Y-

TTM128.85%

ROCE

10Y Avg4.03%

5Y Avg3.12%

3Y Avg5.71%

Latest8.03%

Peer Comparison

Building Systems Contractors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MAGHMagnitude International Ltd Ordinary Shares	225.45M	6.76	5633.33	-36.54%	0.28%	3.37%		3.90
MYRGMYR Group Inc.	3.79B	244.19	133.44	-7.73%	2.78%	15.84%	0.29%	0.20
ECGEverus Construction Group, Inc.	4.55B	89.30	31.78	-0.16%	5.18%	31.58%	2.53%	0.86
EMEEMCOR Group, Inc.	30.54B	682.13	31.70	15.76%	6.96%	33.88%	4.37%	0.12
IESCIES Holdings, Inc.	8.62B	432.69	28.81	16.89%	9.08%	34.46%	2.54%	0.10
BLDTopBuild Corp.	14.05B	500.68	24.68	2.6%	10.84%	25.54%	5.03%	0.71
MIMIMint Incorporation Limited	6.07M	0.30	-4.70	-25.48%	-54.55%	-26.04%		0.22
OFALOFA Group	6.84M	0.48	-7.48	-61.93%	-110.27%

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.05B	3.73B	985M	3.59B	3.94B	6.56B	6.93B	7.02B
Revenue Growth %	-	0.22%	-0.74%	2.64%	0.1%	0.66%	0.06%	0.01%
Cost of Goods Sold+	2.38B	2.94B	787M	2.83B	3B	4.84B	4.99B	4.84B
COGS % of Revenue	0.78%	0.79%	0.8%	0.79%	0.76%	0.74%	0.72%	0.69%
Gross Profit+	664M	787M	198M	756M	939M	1.71B	1.94B	2.18B
Gross Margin %	0.22%	0.21%	0.2%	0.21%	0.24%	0.26%	0.28%	0.31%
Gross Profit Growth %	-	0.19%	-0.75%	2.82%	0.24%	0.83%	0.13%	0.12%
Operating Expenses+	511M	625M	359M	922M	803M	1.55B	1.58B	1.69B
OpEx % of Revenue	0.17%	0.17%	0.36%	0.26%	0.2%	0.24%	0.23%	0.24%
Selling, General & Admin	511M	625M	359M	725M	803M	1.55B	1.58B	1.69B
SG&A % of Revenue	0.17%	0.17%	0.36%	0.2%	0.2%	0.24%	0.23%	0.24%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	197M	0	0	0	0
Operating Income+	123M	162M	-161M	-166M	136M	162M	359M	484M
Operating Margin %	0.04%	0.04%	-0.16%	-0.05%	0.03%	0.02%	0.05%	0.07%
Operating Income Growth %	-	0.32%	-1.99%	-0.03%	1.82%	0.19%	1.22%	0.35%
EBITDA+	124.86M	271M	-92M	97M	338M	466M	662M	786M
EBITDA Margin %	0.04%	0.07%	-0.09%	0.03%	0.09%	0.07%	0.1%	0.11%
EBITDA Growth %	-	1.17%	-1.34%	2.05%	2.48%	0.38%	0.42%	0.19%
D&A (Non-Cash Add-back)	1.86M	109M	69M	263M	202M	304M	303M	302M
EBIT	-1.86M	168M	-136M	-132M	139M	218M	377M	476M
Net Interest Income+	0	-22M	-15M	-52M	-60M	-125M	-145M	-146M
Interest Income	0	0	0	0	0	0	0	0
Interest Expense	8M	22M	15M	52M	60M	125M	145M	146M
Other Income/Expense	-114.44M	-16M	10M	-18M	-57M	-69M	-127M	-154M
Pretax Income+	120M	146M	-151M	-184M	79M	93M	232M	330M
Pretax Margin %	0.04%	0.04%	-0.15%	-0.05%	0.02%	0.01%	0.03%	0.05%
Income Tax+	8M	10M	2M	-31M	32M	20M	79M	80M
Effective Tax Rate %	0.93%	0.93%	1.01%	0.83%	0.59%	0.78%	0.66%	0.76%
Net Income+	112M	136M	-153M	-153M	47M	73M	153M	250M
Net Margin %	0.04%	0.04%	-0.16%	-0.04%	0.01%	0.01%	0.02%	0.04%
Net Income Growth %	-	0.21%	-2.13%	0%	1.31%	0.55%	1.1%	0.63%
Net Income (Continuing)	8.56M	136M	-153M	-153M	47M	73M	153M	250M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.07	0.78	-0.59	-1.48	-0.44	0.07	-0.46	-0.56
EPS Growth %	-	10.39%	-1.76%	-1.51%	0.7%	1.17%	-7.33%	-0.22%
EPS (Basic)	0.07	0.78	-1.01	-1.48	-0.44	0.08	-0.46	-0.56
Diluted Shares Outstanding	121.03M	175.15M	260.85M	254.22M	308.64M	399.12M	352.71M	401.51M
Basic Shares Outstanding	121.03M	175.15M	151.15M	254.22M	308.64M	349.8M	352.71M	401.51M
Dividend Payout Ratio	0.99%	0.54%	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.23B	1.14B	1.34B	1.44B	2.63B	2.65B	2.58B	2.66B
Cash & Short-Term Investments	1.23B	54M	256M	515M	1.19B	605M	479M	499M
Cash Only	19.04M	54M	256M	515M	1.19B	605M	479M	499M
Short-Term Investments	1.21B	0	0	0	0	0	0	0
Accounts Receivable	0	1B	975M	781M	984M	1.77B	1.83B	1.9B
Days Sales Outstanding	-	98.4	361.29	79.47	91.16	98.62	96.47	98.66
Inventory	0	56M	58M	64M	69M	163M	150M	143M
Days Inventory Outstanding	-	6.95	26.9	8.25	8.39	12.28	10.98	10.78
Other Current Assets	0	-1.19B	20M	0	302M	0	122M	119M
Total Non-Current Assets+	0	899M	2.67B	2.63B	2.53B	5.44B	5.01B	5.49B
Property, Plant & Equipment	0	328M	507M	462M	427M	629M	618M	647M
Fixed Asset Turnover	-	11.37x	1.94x	7.76x	9.23x	10.43x	11.21x	10.85x
Goodwill	0	320M	980M	1.08B	1.11B	2.38B	2.47B	2.89B
Intangible Assets	0	204M	1.12B	965M	882M	1.78B	1.62B	1.66B
Long-Term Investments	0	0	6M	9M	4M	4M	11M	125M
Other Non-Current Assets	0	47M	61M	21M	41M	532M	175M	111M
Total Assets+	1.23B	2.04B	4.01B	4.07B	5.16B	8.09B	7.59B	8.15B
Asset Turnover	2.48x	1.83x	0.25x	0.88x	0.76x	0.81x	0.91x	0.86x
Asset Growth %	-	0.66%	0.97%	0.01%	0.27%	0.57%	-0.06%	0.07%
Total Current Liabilities+	16K	999M	823M	841M	867M	1.92B	1.81B	1.89B
Accounts Payable	0	174M	156M	150M	236M	490M	472M	497M
Days Payables Outstanding	-	21.59	72.35	19.34	28.7	36.92	34.54	37.48
Short-Term Debt	0	295M	19M	18M	1M	206M	5M	4M
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	0	42M	279M	241M	151M	352M	366M	1.29B
Current Ratio	76856.56x	1.14x	1.63x	1.71x	3.03x	1.38x	1.43x	1.41x
Quick Ratio	76856.56x	1.09x	1.56x	1.63x	2.95x	1.30x	1.35x	1.33x
Cash Conversion Cycle	-	83.75	315.84	68.38	70.85	73.98	72.9	71.97
Total Non-Current Liabilities+	0	409M	1.43B	1.67B	1.97B	4.04B	2.92B	3.31B
Long-Term Debt	0	305M	1.17B	1.4B	1.77B	2.58B	2.32B	2.75B
Capital Lease Obligations	0	0	95M	96M	79M	166M	172M	192M
Deferred Tax Liabilities	0	0	23M	45M	43M	340M	233M	198M
Other Non-Current Liabilities	0	104M	49M	128M	81M	954M	188M	175M
Total Liabilities	16K	1.41B	2.25B	2.51B	2.84B	5.96B	4.72B	5.2B
Total Debt+	0	600M	1.31B	1.54B	1.87B	3.03B	2.57B	3.04B
Net Debt	-19.04M	546M	1.06B	1.03B	685M	2.42B	2.1B	2.54B
Debt / Equity	-	0.95x	0.75x	0.99x	0.81x	1.42x	0.90x	1.03x
Debt / EBITDA	-	2.21x	-	15.90x	5.54x	6.50x	3.89x	3.86x
Net Debt / EBITDA	-0.15x	2.01x	-	10.59x	2.03x	5.20x	3.16x	3.23x
Interest Coverage	15.38x	7.36x	-10.73x	-3.19x	2.27x	1.30x	2.48x	3.32x
Total Equity+	1.23B	633M	1.76B	1.56B	2.32B	2.13B	2.87B	2.95B
Equity Growth %	-	-0.49%	1.78%	-0.11%	0.49%	-0.08%	0.35%	0.03%
Book Value per Share	10.16	3.61	6.74	6.13	7.53	5.33	8.13	7.35
Total Shareholders' Equity	1.23B	633M	1.76B	1.56B	2.32B	2.13B	2.87B	2.95B
Common Stock	0	1.19B	0	0	0	0	0	0
Retained Earnings	2.14M	663M	-128M	-284M	-237M	-164M	-11M	215M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	0	-28M	3M	-14M	0	-267M	-490M	-567M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	118M	112M	150M	496M	182M	270M	514M	620M
Operating CF Margin %	0.04%	0.03%	0.15%	0.14%	0.05%	0.04%	0.07%	0.09%
Operating CF Growth %	-	-0.05%	0.34%	2.31%	-0.63%	0.48%	0.9%	0.21%
Net Income	112M	136M	-153M	-153M	47M	73M	153M	250M
Depreciation & Amortization	69M	109M	69M	263M	202M	304M	303M	302M
Stock-Based Compensation	10M	3M	156M	5M	12M	18M	29M	32M
Deferred Taxes	0	0	-2M	-74M	6M	-47M	-32M	-30M
Other Non-Cash Items	26M	-1M	-2M	241M	62M	33M	111M	107M
Working Capital Changes	-99M	-135M	82M	214M	-147M	-111M	-50M	-41M
Change in Receivables	-106M	-173M	146M	238M	-172M	-217M	-43M	-11M
Change in Inventory	-1M	-9M	0	11M	-2M	-30M	13M	9M
Change in Payables	5M	1M	-32M	-24M	78M	71M	-14M	16M
Cash from Investing+	-56M	-300M	-1.73B	-340M	-121M	-2.9B	-115M	-829M
Capital Expenditures	-39M	-74M	-11M	-38M	-55M	-79M	-86M	-84M
CapEx % of Revenue	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	46M	8M	848M	17M	20M	17M	54M	33M
Cash from Financing+	-106M	203M	1.4B	99M	917M	1.76B	-532M	245M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	-111M	-74M	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	-34M	-26M	-26M	-103M	-88M	-37M	-7M	-26M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	79M	38M	139M	458M	127M	191M	428M	536M
FCF Margin %	0.03%	0.01%	0.14%	0.13%	0.03%	0.03%	0.06%	0.08%
FCF Growth %	-	-0.52%	2.66%	2.29%	-0.72%	0.5%	1.24%	0.25%
FCF per Share	0.65	0.22	0.53	1.80	0.41	0.48	1.21	1.33
FCF Conversion (FCF/Net Income)	1.05x	0.82x	-0.98x	-3.24x	3.87x	3.70x	3.36x	2.48x
Interest Paid	8M	0	14M	47M	41M	120M	150M	152M
Taxes Paid	8M	-9M	3M	29M	66M	43M	95M	101M

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.11%	14.6%	-12.8%	-9.23%	2.42%	3.28%	6.13%	8.59%
Return on Invested Capital (ROIC)	7.62%	10.17%	-6.05%	-4.61%	3.65%	3.22%	5.66%	6.95%
Gross Margin	21.8%	21.11%	20.1%	21.08%	23.83%	26.14%	28%	31.03%
Net Margin	3.68%	3.65%	-15.53%	-4.27%	1.19%	1.11%	2.21%	3.56%
Debt / Equity	-	0.95x	0.75x	0.99x	0.81x	1.42x	0.90x	1.03x
Interest Coverage	15.38x	7.36x	-10.73x	-3.19x	2.27x	1.30x	2.48x	3.32x
FCF Conversion	1.05x	0.82x	-0.98x	-3.24x	3.87x	3.70x	3.36x	2.48x
Revenue Growth	-	22.39%	-73.58%	264.16%	9.84%	66.45%	5.64%	1.3%

Revenue by Segment

	2020	2021	2022	2024
Life Safety	1.32B	1.64B	4.03B	4.74B
Life Safety Growth	-	24.75%	144.98%	17.81%
Infrastructure Utility	809M	791M	1.15B	997M
Infrastructure Utility Growth	-	-2.22%	45.89%	-13.60%
Specialty Contracting	413M	614M	623M	571M
Specialty Contracting Growth	-	48.67%	1.47%	-8.35%
Heating Ventilation And Air Conditioning	-	437M	550M	485M
Heating Ventilation And Air Conditioning Growth	-	-	25.86%	-11.82%
Fabrication	179M	248M	253M	230M
Fabrication Growth	-	38.55%	2.02%	-9.09%
Safety Services	1.64B	2.08B	4.58B	-
Safety Services Growth	-	26.91%	119.95%	-
Specialty Services	1.4B	1.65B	2.03B	-
Specialty Services Growth	-	17.99%	22.81%	-
Corporate And Eliminations	-16M	-	-47M	-
Corporate And Eliminations Growth	-	-	-	-
Industrial Services	563M	277M	-	-
Industrial Services Growth	-	-50.80%	-	-
Transmission	409M	205M	-	-
Transmission Growth	-	-49.88%	-	-
Civil	67M	72M	-	-
Civil Growth	-	7.46%	-	-
Mechanical	322M	-	-	-
Mechanical Growth	-	-	-	-
Inspection	87M	-	-	-
Inspection Growth	-	-	-	-

Revenue by Geography

	2020	2021	2022	2024
Americas	3.35B	3.56B	4.06B	4.38B
Americas Growth	-	6.39%	14.07%	7.90%
Other Countries	-	-	1.93B	2B
Other Countries Growth	-	-	-	3.42%
FRANCE	-	-	564M	637M
FRANCE Growth	-	-	-	12.94%
Canada And Europe	240M	379M	-	-
Canada And Europe Growth	-	57.92%	-	-

Frequently Asked Questions

Growth & Financials

APi Group Corporation (APG) reported $7.66B in revenue for fiscal year 2024. This represents a 151% increase from $3.05B in 2017.

APi Group Corporation (APG) grew revenue by 1.3% over the past year. Growth has been modest.

Yes, APi Group Corporation (APG) is profitable, generating $263.0M in net income for fiscal year 2024 (3.6% net margin).

Dividend & Returns

APi Group Corporation (APG) has a return on equity (ROE) of 8.6%. This is below average, suggesting room for improvement.

APi Group Corporation (APG) generated $572.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.