olivLaw · US equity research
APi Group Corporation APG
Services-To Dwellings & Other Buildings · SIC 7340 · Vertical: Services-To Dwellings & Other Buildings (SIC 7340)
APi Group is a global provider of fire and life safety, security, elevator and escalator, and specialty services with over 500 locations worldwide as of fiscal 2025. Net revenues in fiscal 2025 were 7,911 million USD, up 12.7%, and in the second quarter of 2026 reported growth was 13.3%, of which 10.1% organic. The company raised its 2026 outlook to net revenues of 8,875-9,025 million USD.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, APi Group Corporation (APG) stock was 44.03 USD (−5.05% on the day), with market capitalisation 18.7 bn USD, P/E 54.4 on diluted EPS of 0.81 USD over the last 12 months, beta 1.10, 52-week range 36.07–49.40 USD. Latest reported quarter (Q3 2026): revenue of 2.6 bn USD (+22.5% YoY), net income of 114.0 m USD (+22.6% YoY), diluted EPS 0.24 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 61.2
- strong (55–70)
- Bollinger (20, 2)
- 37.02 – 45.76
- in the upper half of the band · %B 0.80 · band width 21.1%
- SMA 50 / 200
- 39.89 / 41.99
- mixed trend
- MACD (12, 26, 9)
- 1.38 / 0.85
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +8.3% | −1.1% | +9.4 pp | — |
| 3 months | +5.4% | −0.5% | +5.8 pp | — |
| 6 months | −4.9% | +4.4% | −9.3 pp | — |
| Year to date | +15.1% | +12.3% | +2.8 pp | — |
| 1 year | +24.3% | +13.5% | +10.7 pp | −5.1% |
| 3 years | +138.9% | +76.4% | +62.5 pp | +33.5% |
| 5 years | +185.4% | +63.7% | +121.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.9 bn | 1.7 bn | 2.0 bn | 2.1 bn | 2.1 bn | 2.0 bn | 2.3 bn | 2.6 bn |
| Cost of revenue | 1.3 bn | 1.2 bn | 1.4 bn | 1.4 bn | 1.4 bn | 1.4 bn | 1.6 bn | 1.8 bn |
| Gross profit | 575.0 m | 542.0 m | 615.0 m | 652.0 m | 678.0 m | 620.0 m | 703.0 m | 770.0 m |
| SG&A | 459.0 m | 458.0 m | 472.0 m | 489.0 m | 514.0 m | 517.0 m | 528.0 m | 568.0 m |
| Operating income | 116.0 m | 84.0 m | 143.0 m | 163.0 m | 164.0 m | 103.0 m | 175.0 m | 202.0 m |
| Interest expense | — | 38.0 m | 37.0 m | 34.0 m | — | 30.0 m | 36.0 m | 45.0 m |
| Pre-tax income | 78.0 m | 46.0 m | 108.0 m | 130.0 m | 129.0 m | 71.0 m | 138.0 m | 155.0 m |
| Income tax | 11.0 m | 11.0 m | 31.0 m | 37.0 m | 32.0 m | 14.0 m | 39.0 m | 41.0 m |
| Net income | 67.0 m | 35.0 m | 77.0 m | 93.0 m | 97.0 m | 57.0 m | 99.0 m | 114.0 m |
| Diluted EPS | 0.16 ≈ | 0.07 | 0.16 | 0.20 | 0.25 ≈ | 0.12 | 0.20 | 0.24 |
| Operating cash flow | 283.0 m | 62.0 m | 83.0 m ≈ | 232.0 m ≈ | 382.0 m | 85.0 m | 83.0 m ≈ | 225.0 m ≈ |
| Capex | 18.0 m | 12.0 m | 27.0 m ≈ | 31.0 m ≈ | 26.0 m | 18.0 m | 31.0 m ≈ | 27.0 m ≈ |
| Share repurchases | 0 | 75.0 m | 0 ≈ | 0 ≈ | 0 | 0 | 66.0 m ≈ | 186.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 17 percentile of its own 18-quarter history (min 43.0, median 61.0, max 286.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.7 bn | 985.0 m | 3.6 bn | 3.9 bn | 6.6 bn | 6.9 bn | 7.0 bn | 7.9 bn |
| Revenue YoY | unavailable | −73.6% | +264.2% | +9.8% | +66.4% | +5.6% | +1.3% | +12.7% |
| Net income | 136.0 m | -153.0 m | -153.0 m | 47.0 m | 73.0 m | 153.0 m | 250.0 m | 302.0 m |
| Net income YoY | unavailable | −212.5% | unavailable | unavailable | +55.3% | +109.6% | +63.4% | +20.8% |
| Diluted EPS | unavailable | -1.15 | -2.21 | -0.67 | 0.10 | -0.46 | -0.56 | -0.69 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −560.0% | unavailable | unavailable |
| net % | 3.6% | -15.5% | -4.3% | 1.2% | 1.1% | 2.2% | 3.6% | 3.8% |
| Free cash flow | 38.0 m | 139.0 m | 458.0 m | 127.0 m | 191.0 m | 428.0 m | 536.0 m | 663.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 912.0 m USD
- Financial debt
- 2.8 bn USD
- Net debt
- 1.8 bn USD
- Equity
- 3.4 bn USD
- Total assets
- 8.9 bn USD
- Debt / equity
- 0.81x
- Current ratio
- 1.50x
- ROE
- 9.5%
- ROA
- 3.5%
- FCF margin
- 8.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.6 bn | 3.9 bn | 6.6 bn | 6.9 bn | 7.0 bn | 7.9 bn | SEC (XBRL)· 25 Feb 2026verified |
| Cost of revenue | 2.8 bn | 3.0 bn | 4.8 bn | 5.0 bn | 4.8 bn | 5.4 bn | SEC (XBRL)· 25 Feb 2026verified |
| Gross profit | 756.0 m | 939.0 m | 1.7 bn | 1.9 bn | 2.2 bn | 2.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| SG&A | 725.0 m | 803.0 m | 1.6 bn | 1.6 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | -166.0 m | 136.0 m | 162.0 m | 359.0 m | 484.0 m | 554.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Interest expense | 52.0 m | 60.0 m | 125.0 m | 145.0 m | — | — | SEC (XBRL)· 28 Feb 2024verified |
| Pre-tax income | -184.0 m | 79.0 m | 93.0 m | 232.0 m | 330.0 m | 413.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | -31.0 m | 32.0 m | 20.0 m | 79.0 m | 80.0 m | 111.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | -153.0 m | 47.0 m | 73.0 m | 153.0 m | 250.0 m | 302.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | -2.21 | -0.67 | 0.10 | -0.46 | -0.56 | -0.69 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | 169.0 m | 206.0 m | 266.1 m | 352.7 m | 401.5 m | 415.7 m | SEC (XBRL)· 25 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 515.0 m | 1.2 bn | 605.0 m | 479.0 m | 499.0 m | 912.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 639.0 m | 767.0 m | 1.3 bn | 1.4 bn | 1.4 bn | 1.6 bn | SEC (XBRL)· 25 Feb 2026verified |
| Inventories | 64.0 m | 69.0 m | 163.0 m | 150.0 m | 143.0 m | 145.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 1.4 bn | 2.6 bn | 2.7 bn | 2.6 bn | 2.7 bn | 3.2 bn | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 355.0 m | 326.0 m | 407.0 m | 385.0 m | 379.0 m | 397.0 m | SEC (XBRL)· 30 Apr 2026verified |
| Goodwill | 1.1 bn | 1.1 bn | 2.4 bn | 2.5 bn | 2.9 bn | 3.2 bn | SEC (XBRL)· 25 Feb 2026verified |
| Intangibles (excl. goodwill) | 965.0 m | 882.0 m | 1.8 bn | 1.6 bn | 1.7 bn | 1.6 bn | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 4.1 bn | 5.2 bn | 8.1 bn | 7.6 bn | 8.2 bn | 8.9 bn | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 150.0 m | 236.0 m | 490.0 m | 472.0 m | 497.0 m | 526.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Short-term debt | 18.0 m | 1.0 m | 206.0 m | 5.0 m | 4.0 m | 5.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Long-term debt | 1.4 bn | 1.8 bn | 2.6 bn | 2.3 bn | 2.7 bn | 2.8 bn | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 841.0 m | 867.0 m | 1.9 bn | 1.8 bn | 1.9 bn | 2.2 bn | SEC (XBRL)· 25 Feb 2026verified |
| Total liabilities | 2.5 bn | 2.8 bn | 5.2 bn | 4.7 bn | 5.2 bn | 5.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 1.6 bn | 2.3 bn | 2.1 bn | 2.1 bn | 3.0 bn † | 3.4 bn † | SEC (XBRL)· 25 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 496.0 m | 182.0 m | 270.0 m | 514.0 m | 620.0 m | 759.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 38.0 m | 55.0 m | 79.0 m | 86.0 m | 84.0 m | 96.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | 458.0 m ≈ | 127.0 m ≈ | 191.0 m ≈ | 428.0 m ≈ | 536.0 m ≈ | 663.0 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -340.0 m | -121.0 m | -2.9 bn | -115.0 m | -829.0 m | -254.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | 99.0 m | 917.0 m | 1.8 bn | -532.0 m | 245.0 m | -121.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | 30.0 m | 0 | 44.0 m | 41.0 m | 0 | 75.0 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 41 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 18.7 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation20
- Balance sheet32
- Quality61
- Growth54
- Returns19
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 17.93 – 24.18 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E17.93 – 24.18 (Mid 19.89)3 companies used · median multiple 24.6x · quartiles 22.2x – 29.9xABM, FTDR, ROL
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 41/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 7.9% | 45 (on a fixed band) | 17% |
| Net margin · Quality | 4.1% | 50 (vs peers) | 10% |
| FCF conversion · Quality | 183.4% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 6.5% | 54 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.2x | 32 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 54.4x | 0 (on a fixed band) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 3.6% | 45 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 1.3% | 19 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial32/100 · 1/3 factors with a value
- Growth· partial54/100 · 1/2 factors with a value
- Quality61/100 · 3/3 factors with a value
- Returns· partial19/100 · 1/2 factors with a value
- Valuation20/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
APi Group Corporation (APG). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 7.9 bn USD in 2025; YoY growth 12.7%; net margin 4.1%; ROE 10.9%.
The estimated value range is 17.93–24.18 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 19.89 USD, the price of 44.03 USD leaves a potential of -54.8% (value / price − 1) and a margin of safety of -121.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 41/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 183.4%
What contradicts it
- P/E (TTM): 54.4x
- Shareholder yield (distributions): 1.3%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Services-To Dwellings & Other Buildings (SIC 7340) · same industry (4-digit SIC) · compared with 6 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| APGAPi Group Corporation | 18.7 bn | 54.4 | 10.9% | 4.1% | +12.7% | +24% / +139% |
| ROLRollins, Inc. | 18.3 bn | 35.2 | 36.0% | 13.2% | +11.0% | −38% / −6% |
| FTDRFrontdoor, Inc. | 6.4 bn | 24.6 | 101.9% | 12.8% | +13.6% | +72% / +170% |
| ABMAbm Industries Incorporated | 3.2 bn | 19.7 | 9.2% | 1.8% | +4.6% | +27% / +34% |
| PMECPrimech Holdings Ltd. | 11.6 m | — | -13.0% | -2.6% | +2.5% | −71% / −88% |
| ARAIArrive AI Inc. | 5.4 m | — | — | -52,935.3% | unavailable | −97% / unavailable |
| ABNBAirbnb, Inc. | — | — | 34.5% | 20.4% | +10.3% | +51% / +40% |
1- and 3-year price returns: for APG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 28.30 Total return -36% · Per year -36% | 49.98 Total return 14% · Per year 14% | 75.22 Total return 71% · Per year 71% |
| 3 years | 28.55 Total return -35% · Per year -13% | 56.64 Total return 29% · Per year 9% | 93.44 Total return 112% · Per year 29% |
| 5 years | 28.81 Total return -35% · Per year -8% | 64.18 Total return 46% · Per year 8% | 116.07 Total return 164% · Per year 21% |
- Exit P/E± 14.16
- Net margin± 9.91
- Annual revenue growth± 7.99
- Annual dilution± 0.83
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (29 Oct 2026 · results).
In brief
APi Group is a global provider of fire and life safety, security, elevator and escalator, and specialty services with over 500 locations worldwide as of fiscal 2025 1. Net revenues in fiscal 2025 were 7,911 million USD, up 12.7% 1, and in the second quarter of 2026 reported growth was 13.3%, of which 10.1% organic 3. The company raised its 2026 outlook to net revenues of 8,875-9,025 million USD 3.
SWOT
Strengths
- The company has a large base of recurring revenue from inspection, service and monitoring, supported by statutory or insurance obligations 1.
- The customer base is diversified, with long-standing relationships and low concentration, which gives stability to cash flows 1.
- Global scale and a decentralized model allow sharing of best practices and development of leaders across businesses 1.
Weaknesses
- Selling, general and administrative expenses grew faster than revenues in 2025, partly due to non-recurring systems costs 1.
- Implementing new ERP systems and migrating to cloud platforms carries risks of delays, cost overruns and operational disruption 1.
- The decentralized model may make it slower to spot misalignment with overall strategy or compliance policies 1.
Opportunities
- Demand driven by stricter regulation and mandated inspections could continue to grow over the long term 1.
- Projects linked to artificial intelligence and data centers could open new opportunities in high tech services 1.
- A fragmented market could still offer many acquisition targets if integration remains effective 1.
Risks
- Acquisitions that fail to deliverhigh
Acquisitions can consume resources, lead to impairment and bring unforeseen liabilities, and integration could prove harder than expected 1.
- ERP system implementationmedium
Delays or errors in implementing new ERP systems and migrating to cloud platforms could affect internal control and reporting 1.
- Delayed or poorly managed projectsmedium
Cost overruns, delays and contract disputes could generate additional costs or claims against the company 1.
- International operating risksmedium
Anti-corruption rules, sanctions, limits on repatriating earnings and changing laws could create penalties or compliance costs 1.
- Tariffs and supply chainsmedium
Tariffs and supply chain disruptions could raise material costs and delay projects, which could reduce activity 12.
Investment thesis
What would need to be true (bull case)
- Strong organic growth in the second quarter of 2026, together with a record backlog, suggests demand for recurring services and projects remains solid 3.
- The raised outlook for net revenues and adjusted EBITDA indicates management sees favorable conditions for the rest of the year 3.
- The recurring revenue base and legally required inspections offer stability that could support growth even in weaker economic periods 1.
What would break the thesis
- Acquisitions and their integration carry impairment risk and unforeseen costs, and too fast a pace of deals could dilute returns 1.
- Pressure from tariffs, labor costs and competition could compress margins, especially in the Specialty Services segment 12.
- ERP implementation and cloud migration could create more cost and operational disruption than anticipated 1.
What to watch
- Delivery against the raised 2026 net revenue and adjusted EBITDA outlook2026
- Trend in gross margin and SG&A costs in the Safety and Specialty segmentsQ3 2026
- Impact of tariffs and material costs on project activityQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (29 Oct 2026 · results).
The business
APi Group operates through two reportable segments: Safety Services, covering design, installation, inspection, service and monitoring of fire protection, electronic security and elevator systems, and Specialty Services, covering specialty contracting, fabrication and distribution, and infrastructure and utility services in North America 12. Its model follows an 'inspection-first' approach, in which initial inspection work leads to recurring service work, much of it required by law or insurance 1.
Growth strategy combines organic expansion, acquisitions and sharing of best practices within a decentralized structure in which subsidiary leaders make key decisions 1. The company has completed 140 acquisitions since 2005 and aims to integrate acquired businesses quickly to expand margins 1. Capital expenditures are typically below 1.5% of net revenues, supporting a stable cash flow profile 1.
Customers include companies in high tech services, advanced manufacturing, healthcare, distribution centers, critical infrastructure, commercial, industrial, education, telecom, utilities and government 1. No single customer accounted for more than 5% of net revenues in 2025, limiting concentration 1.
Market context
Trends
- Deferred infrastructure investmenttailwind
Aging US infrastructure requires maintenance and retrofit, which has spurred demand, and growing adoption of artificial intelligence and high-performance computing could expand large projects in high tech services 1.
- Tighter regulationtailwind
Codes and standards set by associations and government agencies require periodic testing, inspection and retrofit, which can create recurring demand if regulation keeps tightening 1.
- Tariffs and material costsheadwind
Tariffs raise the cost of certain materials and projects, which could reduce project activity and demand for services if the pressure persists 12.
- Labor pressuremixed
Competition for skilled labor and higher wage costs can reduce profitability and affect timely service delivery, especially if costs cannot be passed on to customers 12.
Competitive position
The industries in which APi operates are highly competitive, and this competition has in the past led to lower proposals and reduced profit on services 12. The company argues that its scale, service portfolio and niche market leadership give it advantages over regional and local rivals 1.
Competitors range from international to regional and local companies in safety services and specialty contracting, and competition for acquisitions can raise prices and reduce deal returns 1.
- Regional specialty contractors in North America
Regional and local competitors in the Specialty Services segment that compete for projects and infrastructure services.
- Local elevator and escalator service companies
Local service firms competing for elevator and escalator maintenance contracts.
- Other acquirers of service businesses
Other potential buyers may offer more favorable terms or have greater financial resources, which can limit acquisition opportunities.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report29 Oct 2026
- Current report29 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report30 Jul 2026
- Current report30 Jul 2026Results of operations · Financial statements and exhibits
- Current report02 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Current report09 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report19 May 2026Shareholder vote · Financial statements and exhibits
- Current report18 May 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report08 May 2026Other events · Financial statements and exhibits
- Quarterly report30 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / APi Group Corporation · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / APi Group Corporation · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / APi Group Corporation · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.