Is the business good?
How good a business is APG?
APi Group Corporation earns 8.1% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.1%
Return on invested capital · cost of capital 9.0% · 0.92 points below what the capital costs: growth destroys value
- Operating margin
- 7.0%
Operating margin · Engineering & Construction median 7.4% · 12 months to Q1 2026
- Cash conversion
- 2.10×
Cash conversion · 2.50× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +4.2%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −4.6% |
| FY2021 | 3.5% |
| FY2022 | 2.5% |
| FY2023 | 5.2% |
| FY2024 | 6.9% |
| FY2025 | 7.0% |
Details›
- Gross margin12 months to Q1 2026
- 31%
- Operating margin12 months to Q1 2026
- 7.0%
- Net margin12 months to Q1 2026
- 4.0%
- Free cash flow margin
- 8.3%
- Revenue, trailing twelve months
- $8.17B
- Free cash flow, trailing twelve months
- $680M
- Net income, trailing twelve months
- $324M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.1%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Engineering & Construction
Ranks #24 of 27 by Smart Score