APi Group Corporation
apigroupinc.comWhat Do They Do?
Installs, inspects, services and monitors fire protection, electronic security, and elevator and escalator systems for public- and private-sector customers. Also provides specialty contracting and infrastructure services.
10-K for FY2025, filed Feb 25, 2026
How Do They Make Money?
Customers pay for contracted services, fabrication and distribution through advance bills, milestone bills, or bills issued as services are provided. Wholesale and retail unit sales are tied to shipment.
10-K for FY2025, filed Feb 25, 2026
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$7.9B
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10-K for FY2025, filed Feb 25, 2026
$7.9B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Safety Services
|
69%
FY2022: 63%
|
Safety Services, FY2025
$5.5B Sources
|
|
Specialty Services
|
31%
FY2022: 38%
|
Specialty Services, FY2025
$2.5B Sources
|
Who Are Their Customers?
Serves public- and private-sector organizations, from companies with worldwide operations to single-location businesses, across manufacturing, healthcare, utilities, technology and other markets. Customers use master service agreements or shorter project contracts; regional and national property portfolios can work through a single point of contact.
10-K for FY2025, filed Feb 25, 2026We have long-standing relationships with many customers in each of the industries we serve. We serve customers in both the public and…View ↗
Our focus on providing high quality service promotes deep, long-term relationships with our customers which often results in continued…View ↗
Our success depends on developing and maintaining successful long-term relationships with key customers in each of the industries we serve.…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 8 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$554MView ↗
10-K for FY2025, filed Feb 25, 2026
$302MView ↗
10-K for FY2025, filed Feb 25, 2026
$663MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 30, 2026
Open tableView ↗
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Jul 2, 2026
Closed WTech acquisition and updated 2026 guidance
Sources
8-K, filed Jul 2, 2026
On July 2, 2026, APi Group Corporation (NYSE: APG) (“APi” or the “Company”) issued a press release announcing (i) the closing of the…View ↗
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Jun 9, 2026
Closed Onyx-Fire acquisition and updated 2026 guidance
Sources
8-K, filed Jun 9, 2026
On June 9 2026, APi Group Corporation (NYSE: APG) (“APi” or the “Company”) issued a press release announcing (i) the closing of the…View ↗
Growing. Revenue grew 2.0x in 4 years, from $3.9B in FY2021 to $7.9B in FY2025, about 19% a year.
Elevator and escalator services
Safety Services added elevator and escalator work through the Elevated acquisition, expanding on the earlier report's description of fire, HVAC and entry systems.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 25, 2026Safety Services – A leading provider of safety services in North America, Asia Pacific, and Europe, focusing on end-to-end integrated…View ↗
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