APG

APi Group Corp

Ticker: APGTechnologyBusiness Services & Software
HQ NEW BRIGHTON, MNCIK 1796209FY end 12-31Book / share $8.06Shares 436M
Revenue (FY)
$7.91B+12.72%
TTM $8.44B
Op. margin
7.00%+0.11%
TTM 7.17%
Net income
$302.00M+20.80%
TTM $346.00M
Operating cash
$759.00M+22.42%
TTM $782.00M
Free cash flow
$663.00M+23.69%
TTM $676.00M
Return on equity
8.86%+0.40%
TTM 9.84%
Debt / equity
0.90-0.13%
TTM 1.09
Shares outstanding
415.7M+55.30%
TTM 436.0M

The business

APi Group Corporation (NYSE: APG) operates as a global, market-leading business services provider headquartered in New Brighton, Minnesota, with a substantial recurring revenue base and over 500 locations worldwide. The company maintains its corporate website at www.apigroupcorp.com.

The company provides fire and life safety, security, elevator and escalator, and specialty services to a diverse customer base across multiple industries. APi Group operates through two reportable segments: Safety Services and Specialty Services. The Safety Services segment is a leading provider of safety services in North America, Europe, and Asia-Pacific, focusing on fire protection solutions, electronic security systems, and elevators and escalators, including design, installation, inspection, service, and monitoring. The Specialty Services segment provides specialty contracting, fabrication and distribution, and infrastructure and utility services throughout North America. Both segments serve customers across high tech services, advanced manufacturing, healthcare, fulfillment and distribution centers, and critical infrastructure end markets.

The company employs approximately 29,000 team members globally and serves a diverse customer base with no single customer accounting for more than five percent of total revenues. APi Group maintains long-standing relationships with blue-chip customers ranging from Fortune 500 companies to single-location operations across both public and private sectors.

The company's business model emphasizes recurring revenue through inspection, service, and monitoring activities, which are often mandated by legislation or insurance requirements. This inspection-first go-to-market strategy differentiates APi Group from competitors and creates sticky customer relationships with predictable cash flows. The company has completed 140 acquisitions since 2005 as part of its disciplined acquisition strategy targeting businesses that align with strategic priorities and demonstrate key value drivers.

APi Group operates a decentralized organizational structure designed to improve speed and responsiveness to customers while empowering subsidiary leadership to drive business performance. The company emphasizes leadership development through its Building Great Leaders program and maintains a strong safety culture reflected in its OSHA recordable rate of 0.87 per one hundred employees per year, considerably below industry averages.

Sector
Technology
Industry
Business Services & Software
HQ
NEW BRIGHTON, MN
FY end
12-31
CIK
1796209
SIC
7340
Financial performance · annual
20202025
$-1.01B$1.57B$4.14B$6.72B$9.30B202020212022202320242025TTMTTMTTM

Ownership

Who holds APi Group Corp — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

493
funds hold it
1 of 35
superinvestors hold it
$7.27B
fund-held value
39.4%
of shares held by funds
3
bond issues held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.45%$558.81M
Janus Henderson Enterprise Fund
JAENX · Janus Investment Fund
2.49%$556.81M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.02%$524.20M
Fidelity Magellan Fund
FMAGX
1.03%$388.44M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.20%$378.67M

Superinvestors in APi Group Corp

Daniel LoebINCREASED +41.1%
Third Point
2.6%

Share of each manager's reported 13F portfolio.

Bonds held by funds

Funds report holding 3 issues of APi Group Corp's debt, $282.03M at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 4.93%, maturing 20292034.

IssueCouponMaturesFundsFund-held
APG 5.75 06/01/345.750%2034-06-0175$110.65M
APi Group DE Inc4.125%2029-07-1557$95.99M
APi Group DE Inc4.750%2029-10-1555$75.39M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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15 years of APi Group Corp's financials

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