APi Group Corporation (APG) Financial Statements

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APi Group financial statements at a glance

APi Group reported revenue of $7.91 billion for fiscal year 2025 (ended December 31, 2025), up 12.7% from fiscal year 2024. Net income was -$288.00 million, a net margin of 3.6% loss, and diluted earnings per share were -$0.69.

At the end of fiscal year 2025 it had total assets of $8.94 billion, total liabilities of $5.53 billion and shareholders' equity of $3.41 billion, with cash and short-term investments of $912.00 million and total debt of $3.07 billion.

Its operations brought in $759.00 million of cash; capital spending was $96.00 million, leaving free cash flow of $663.00 million.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

APG logo

APi Group Corporation

APGUnited States
Manufacturing and Production
USD (Local)

Income Statement

Annual • USD

Total Revenue
7.91B
Prev Year: 7.02B
YoY: +12.7%
Operating Revenue
7.91B
Prev Year: 7.02B
YoY: +12.7%
Diluted NI Available to Com Stockholders
-288.00M
Prev Year: -224.00M
YoY: -28.6%
Total Unusual Items
-
Prev Year: -8.00M
Otherunder Preferred Stock Dividend
590.00M
Prev Year: 372.00M
YoY: +58.6%
Other General and Administrative
1.93B
Prev Year: 1.69B
YoY: +14.1%
Cost of Revenue
5.42B
Prev Year: 4.84B
YoY: +12.1%
Gross Profit
2.49B
Prev Year: 2.18B
YoY: +14.2%
Operating Expense
1.93B
Prev Year: 1.69B
YoY: +14.1%
Selling General and Administrative
1.93B
Prev Year: 1.69B
YoY: +14.1%
General and Administrative Expense
1.93B
Prev Year: 1.69B
YoY: +14.1%
Operating Income
554.00M
Prev Year: 484.00M
YoY: +14.5%
Net Non Operating Interest Income Expense
-141.00M
Prev Year: -146.00M
YoY: +3.4%
Non-operating Interest Expense
141.00M
Prev Year: 146.00M
YoY: -3.4%
Pre-tax Income
413.00M
Prev Year: 330.00M
YoY: +25.2%
Other Income Expense
-
Prev Year: -8.00M
Provision for Income Taxes
111.00M
Prev Year: 80.00M
YoY: +38.8%
Net Income Common Stockholders
-288.00M
Prev Year: -224.00M
YoY: -28.6%
Net Income
302.00M
Prev Year: 250.00M
YoY: +20.8%
Net Income Including Non-Controlling Interests
302.00M
Prev Year: 250.00M
YoY: +20.8%
Net Income from Continuing Operations
302.00M
Prev Year: 250.00M
YoY: +20.8%
Basic EPS
-0.69
Prev Year: -0.84
YoY: +17.9%
Diluted EPS
-0.69
Prev Year: -0.84
YoY: +17.9%
Average Dilution Earnings
-
Weighted Average Shares (basic)
416.00M
Prev Year: 267.68M
YoY: +55.4%
Weighted Average Shares (diluted)
416.00M
Prev Year: 267.68M
YoY: +55.4%
Total Operating Income as Reported
554.00M
Prev Year: 484.00M
YoY: +14.5%
Total Expenses
7.36B
Prev Year: 6.53B
YoY: +12.6%
Net Income from Continuing and Discontinued Operation
302.00M
Prev Year: 250.00M
YoY: +20.8%
Normalized Income
302.00M
Prev Year: 256.08M
YoY: +17.9%
Interest Expense
141.00M
Prev Year: 146.00M
YoY: -3.4%
Net Interest Income
-141.00M
Prev Year: -146.00M
YoY: +3.4%
EBIT
554.00M
Prev Year: 476.00M
YoY: +16.4%
EBITDA
881.00M
Prev Year: 778.00M
YoY: +13.2%
Reconciled Cost of Revenue
5.42B
Prev Year: 4.84B
YoY: +12.1%
Reconciled Depreciation
327.00M
Prev Year: 302.00M
YoY: +8.3%
Net Income from Continuing Operation Net Minority Interest
302.00M
Prev Year: 250.00M
YoY: +20.8%
Normalized EBITDA
881.00M
Prev Year: 786.00M
YoY: +12.1%
Tax Rate for Calcs
0.269
Prev Year: 0
Values in USD

APi Group key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$7.9B$7.0B$6.9B$6.6B$3.9B
Gross profit$2.5B$2.2B$1.9B$1.7B$939.0M
Operating income$554.0M$484.0M$359.0M$162.0M$136.0M
Net income-$288.0M-$224.0M-$161.0M$23.0M-$137.0M
Diluted EPS-$0.69-$0.84-$0.68$0.10-$0.67
Total assets$8.9B$8.2B$7.6B$8.1B$5.2B
Total liabilities$5.5B$5.2B$5.5B$6.0B$2.8B
Shareholders' equity$3.4B$3.0B$2.1B$2.1B$2.3B
Cash and short-term investments$912.0M$499.0M$479.0M$605.0M$1.2B
Total debt$3.1B$3.0B$2.6B$3.0B$1.9B
Operating cash flow$759.0M$620.0M$514.0M$270.0M$182.0M
Capital spending$96.0M$84.0M$86.0M$79.0M$55.0M
Free cash flow$663.0M$536.0M$428.0M$191.0M$127.0M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2017.

Questions and answers

What was APi Group's revenue in fiscal year 2025?

$7.91 billion, up 12.7% from $7.02 billion in fiscal year 2024.

How much profit does APi Group make?

APi Group reported net income of -$288.00 million for fiscal year 2025 (3.6% of revenue); operating income was $554.00 million.

How much cash and debt does APi Group have?

At the end of fiscal year 2025: cash and short-term investments of $912.00 million and total debt of $3.07 billion.

What is APi Group's free cash flow?

$663.00 million in fiscal year 2025 (operating cash flow of $759.00 million minus capital spending of $96.00 million).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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