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APi Group APG Operating margin

Operating margin at other companies

EMCOR Group logo
EMCOR GroupEME
10.1%+0.8pp
Comfort Systems USA logo
Comfort Systems USAFIX
13.4%+3.5pp
Carrier Global logo
Carrier GlobalCARR
8.2%-4.7pp
Vertiv Holdings Co logo
Vertiv Holdings CoVRT
18.3%+0.9pp
nVent Electric plc logo
nVent Electric plcNVT
15.8%-1.3pp
HEICO logo
HEICOHEI
23.5%+1.5pp

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$18.11B+76.1%
Enterprise value$20.23B+60.4%
P/E55.9×+13.1×
P/S2.2×+0.8×

Profitability

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Gross margin31.4%+0.2pp
Net margin4%+0.6pp

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

Calculated from APi Group’s reported figures.

Based on trailing twelve months.

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 operating margin?
APi Group (APG) reported operating margin of 7% in Q1 2026.
How has APi Group's operating margin changed year-over-year?
APi Group's operating margin increased by 6.9% year-over-year, from 6.6% to 7%.
What is the long-term trend for APi Group's operating margin?
Over 4 years (2021 to 2025), APi Group's operating margin has grown at a 29.7% compound annual growth rate (CAGR), from 9.4% to 26.7%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.