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APi Group APG Safety Services — Net revenues

Other segment segments

Specialty Services
$569M+25.6%

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Other financials

Income statement

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Revenue$2.0B+15.3%
Gross profit$620.0M+14.4%
Operating income$103.0M+22.6%
Net income$57.0M+62.9%
EPS (diluted)$0.12+71.4%

Balance sheet

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Cash & equivalents$645.0M+39.9%
Total debt$2.8B+0.2%
Total equity$3.5B+16.9%
Total assets$9.0B+10.7%

Cash flow

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Operating cash flow$85.0M+37.1%
CapEx$18.0M+50.0%
Free cash flow$67.0M+34.0%

Valuation

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Market cap$17.14B+19.0%
Enterprise value$19.25B+15.1%
P/E52.9×-5.2×
P/S2.1×+0.1×

Profitability

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Gross margin31.4%+0.2pp
Operating margin7%+0.5pp
Net margin4%+0.6pp
FCF margin8.3%-0.1pp

Returns & leverage

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Return on equity10%+0.9pp
Debt / equity0.8×-0.1×
Current ratio1.4×0.0×

Where this comes from

Reported directly by APi Group in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: APi Group’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is APi Group's safety services — net revenues?
APi Group (APG) reported safety services — net revenues of $1.42B in Q1 2026.
How has APi Group's safety services — net revenues changed year-over-year?
APi Group's safety services — net revenues increased by 11.7% year-over-year, from $1.27B to $1.42B.
What is the long-term trend for APi Group's safety services — net revenues?
Over 4 years (2021 to 2025), APi Group's safety services — net revenues has grown at a 27.3% compound annual growth rate (CAGR), from $2.08B to $5.46B.
What does safety services — net revenues mean?
Represents the total gross revenue generated from the provision of safety and occupancy systems, including fire protection, HVAC, and integrated security services. This metric reflects the market demand for the company's core safety service offerings across commercial and industrial sectors.