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APi Group APG Safety Services — Segment operating expenses

Other segment segments

Specialty Services
$67M+8.1%

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ATKRSafety & Infrastructure — SG&A
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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$17.85B+24.2%
Enterprise value$19.96B+19.6%
P/E55.1×-2.8×
P/S2.2×+0.2×

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:OperatingExpenses.

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 — segment operating expenses?
APi Group (APG) reported safety services — segment operating expenses of $306M in Q1 2026.
How has APi Group's safety services — segment operating expenses changed year-over-year?
APi Group's safety services — segment operating expenses increased by 10.1% year-over-year, from $278M to $306M.
What is the long-term trend for APi Group's safety services — segment operating expenses?
Over 3 years (2022 to 2025), APi Group's safety services — segment operating expenses has grown at a 8.9% compound annual growth rate (CAGR), from $899M to $1.16B.
What does safety services — segment operating expenses mean?
Represents the indirect costs required to support the safety services segment, including administrative overhead, sales and marketing, and general management costs. These expenses are necessary to maintain the infrastructure of the business unit.