What is APi Group's deferred revenue?

APi Group (APG) reported deferred revenue of $773M in Q1 2026.

How has APi Group's deferred revenue changed year-over-year?

APi Group's deferred revenue increased by 21.9% year-over-year, from $634M to $773M.

What is the long-term trend for APi Group's deferred revenue?

Over 5 years (2020 to 2025), APi Group's deferred revenue has grown at a 25.9% compound annual growth rate (CAGR), from $219M to $694M.

What does deferred revenue mean?

Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

APi Group APG Deferred Revenue

Deferred Revenue at other companies

EMCOR GroupEME

$2.61B+22.3%

Johnson Controls InternationalJCI

$2.94B+21.2%

Comfort Systems USAFIX

$3.23B+109%

Carrier GlobalCARR

$816M+48.6%

ESO

Energy Services of AmericaESOA

$29.47M+28.5%

MSA

Mine Safety Appliances CompanyMSA

$27M-19.2%

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$17.04B+16.5%

Enterprise value$19.15B+13.0%

P/E52.6×-6.4×

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:ContractWithCustomerLiabilityCurrent.

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 deferred revenue?: APi Group (APG) reported deferred revenue of $773M in Q1 2026.
How has APi Group's deferred revenue changed year-over-year?: APi Group's deferred revenue increased by 21.9% year-over-year, from $634M to $773M.
What is the long-term trend for APi Group's deferred revenue?: Over 5 years (2020 to 2025), APi Group's deferred revenue has grown at a 25.9% compound annual growth rate (CAGR), from $219M to $694M.
What does deferred revenue mean?: Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.