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Stocks · Industrials · Services-To Dwellings & Other Buildings

APi Group Corp

APG Clue Score64
United States Fiscal year ends December CIK 0001796209
$40.32 +0.85% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $40.32 +98.91% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 29 Apr 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue3,728.0Operating income162.0Net income136.0Fiscal year 2019Revenue985.0 −73.6%Operating income−161.0Net income−153.0 −212.5%EPS, diluted−1.15Fiscal year 2020Revenue3,587.0 +264.2%Operating income−166.0Net income−153.0EPS, diluted−2.21Fiscal year 2021Revenue3,940.0 +9.8%Operating income136.0Net income47.0EPS, diluted−0.67Fiscal year 2022Revenue6,558.0 +66.4%Operating income162.0Net income73.0 +55.3%EPS, diluted0.10Fiscal year 2023Revenue6,928.0 +5.6%Operating income359.0Net income153.0 +109.6%EPS, diluted−0.46 −560.0%Fiscal year 2024Revenue7,018.0 +1.3%Operating income484.0Net income250.0 +63.4%EPS, diluted−0.56Fiscal year 2025Revenue7,911.0 +12.7%Operating income554.0Net income302.0 +20.8%EPS, diluted−0.69
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 3,728.0 985.0 3,587.0 3,940.0 6,558.0 6,928.0 7,018.0 7,911.0
Growth −73.6% +264.2% +9.8% +66.4% +5.6% +1.3% +12.7%
Operating income 162.0 −161.0 −166.0 136.0 162.0 359.0 484.0 554.0
Net income 136.0 −153.0 −153.0 47.0 73.0 153.0 250.0 302.0
Growth −212.5% +55.3% +109.6% +63.4% +20.8%
EPS, diluted n/a −1.15 −2.21 −0.67 0.10 −0.46 −0.56 −0.69
Growth −560.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin21.1%Operating margin4.3%Net margin3.6%Free cash flow margin1.0%Fiscal year 2019Gross margin20.1%Operating margin−16.3%Net margin−15.5%Free cash flow margin14.1%Fiscal year 2020Gross margin21.1%Operating margin−4.6%Net margin−4.3%Free cash flow margin12.8%Fiscal year 2021Gross margin23.8%Operating margin3.5%Net margin1.2%Free cash flow margin3.2%Fiscal year 2022Gross margin26.1%Operating margin2.5%Net margin1.1%Free cash flow margin2.9%Fiscal year 2023Gross margin28.0%Operating margin5.2%Net margin2.2%Free cash flow margin6.2%Fiscal year 2024Gross margin31.0%Operating margin6.9%Net margin3.6%Free cash flow margin7.6%Fiscal year 2025Gross margin31.4%Operating margin7.0%Net margin3.8%Free cash flow margin8.4%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 21.1% 20.1% 21.1% 23.8% 26.1% 28.0% 31.0% 31.4%
Operating margin 4.3% −16.3% −4.6% 3.5% 2.5% 5.2% 6.9% 7.0%
Net margin 3.6% −15.5% −4.3% 1.2% 1.1% 2.2% 3.6% 3.8%
Free cash flow margin 1.0% 14.1% 12.8% 3.2% 2.9% 6.2% 7.6% 8.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow112.0Capital expenditure−74.0Free cash flow38.0Fiscal year 2019Operating cash flow150.0Capital expenditure−11.0Free cash flow139.0 +265.8%Fiscal year 2020Operating cash flow496.0Capital expenditure−38.0Free cash flow458.0 +229.5%Buybacks−30.0Fiscal year 2021Operating cash flow182.0Capital expenditure−55.0Free cash flow127.0 −72.3%Buybacks0.0Fiscal year 2022Operating cash flow270.0Capital expenditure−79.0Free cash flow191.0 +50.4%Buybacks−44.0Fiscal year 2023Operating cash flow514.0Capital expenditure−86.0Free cash flow428.0 +124.1%Buybacks−41.0Fiscal year 2024Operating cash flow620.0Capital expenditure−84.0Free cash flow536.0 +25.2%Buybacks0.0Fiscal year 2025Operating cash flow759.0Capital expenditure−96.0Free cash flow663.0 +23.7%Buybacks−75.0
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 112.0 150.0 496.0 182.0 270.0 514.0 620.0 759.0
Capital expenditure −74.0 −11.0 −38.0 −55.0 −79.0 −86.0 −84.0 −96.0
Free cash flow 38.0 139.0 458.0 127.0 191.0 428.0 536.0 663.0
Growth +265.8% +229.5% −72.3% +50.4% +124.1% +25.2% +23.7%
Buybacks n/a n/a −30.0 0.0 −44.0 −41.0 0.0 −75.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash54.0Shareholders’ equity633.0Fiscal year 2019Cash256.0Total debt1,171.0Net cash (debt)−915.0Shareholders’ equity1,757.0Debt to equity0.67Fiscal year 2020Cash515.0Total debt1,397.0Net cash (debt)−882.0Shareholders’ equity1,558.0Debt to equity0.90Fiscal year 2021Cash1,188.0Total debt1,766.0Net cash (debt)−578.0Shareholders’ equity2,323.0Debt to equity0.76Fiscal year 2022Cash605.0Total debt2,789.0Net cash (debt)−2,184.0Shareholders’ equity2,127.0Debt to equity1.31Fiscal year 2023Cash479.0Total debt2,327.0Net cash (debt)−1,848.0Shareholders’ equity2,071.0Debt to equity1.12Fiscal year 2024Cash499.0Total debt2,753.0Net cash (debt)−2,254.0Shareholders’ equity2,953.0Debt to equity0.93Fiscal year 2025Cash912.0Total debt2,759.0Net cash (debt)−1,847.0Shareholders’ equity3,408.0Debt to equity0.81
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 54.0 256.0 515.0 1,188.0 605.0 479.0 499.0 912.0
Total debt n/a 1,171.0 1,397.0 1,766.0 2,789.0 2,327.0 2,753.0 2,759.0
Net cash (debt) n/a −915.0 −882.0 −578.0 −2,184.0 −1,848.0 −2,254.0 −1,847.0
Shareholders’ equity 633.0 1,757.0 1,558.0 2,323.0 2,127.0 2,071.0 2,953.0 3,408.0
Debt to equity n/a 0.67 0.90 0.76 1.31 1.12 0.93 0.81

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
3,728.0 985.0 3,587.0 3,940.0 6,558.0 6,928.0 7,018.0 7,911.0
Growth −73.6% +264.2% +9.8% +66.4% +5.6% +1.3% +12.7%
2,941.0 787.0 2,831.0 3,001.0 4,844.0 4,988.0 4,840.0 5,424.0
787.0 198.0 756.0 939.0 1,714.0 1,940.0 2,178.0 2,487.0
Growth −74.8% +281.8% +24.2% +82.5% +13.2% +12.3% +14.2%
625.0 359.0 725.0 803.0 1,552.0 1,581.0 1,694.0 1,933.0
162.0 −161.0 −166.0 136.0 162.0 359.0 484.0 554.0
Growth −199.4% +19.1% +121.6% +34.8% +14.5%
146.0 −151.0 −184.0 79.0 93.0 232.0 330.0 413.0
10.0 2.0 −31.0 32.0 20.0 79.0 80.0 111.0
136.0 −153.0 −153.0 47.0 73.0 153.0 250.0 302.0
Growth −212.5% +55.3% +109.6% +63.4% +20.8%
Per share
n/a −1.15 −2.21 −0.67 0.10 −0.46 −0.56 −0.69
n/a −1.15 −2.21 −0.67 0.10 −0.46 −0.56 −0.69
Growth −560.0%
n/a 133.0 169.0 206.0 233.2 352.7 401.5 415.7
n/a 133.0 169.0 206.0 266.1 352.7 401.5 415.7
Growth +27.1% +21.9% +29.2% +32.6% +13.8% +3.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 17.1% a year over five years.
  • The diluted share count rose 146.0% in five years, which is dilution.
  • Operating margin is up 11.6 points on five years ago, at 7.0%.
  • A net loss in 2 of 8 years on file.