Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.73B | $985M | $3.59B | $3.94B | $6.56B | $6.93B | $7.02B | $7.91B |
| Revenue growth | — | -73.6% | 264.2% | 9.8% | 66.4% | 5.6% | 1.3% | 12.7% |
| Gross profit | $787M | $198M | $756M | $939M | $1.71B | $1.94B | $2.18B | $2.49B |
| Gross margin | 21.1% | 20.1% | 21.1% | 23.8% | 26.1% | 28.0% | 31.0% | 31.4% |
| Operating income | $162M | -$161M | -$166M | $136M | $162M | $359M | $484M | $554M |
| Operating margin | 4.3% | -16.3% | -4.6% | 3.5% | 2.5% | 5.2% | 6.9% | 7.0% |
| Net income | $136M | -$153M | -$153M | $47.0M | $73.0M | $153M | $250M | $302M |
| Net margin | 3.6% | -15.5% | -4.3% | 1.2% | 1.1% | 2.2% | 3.6% | 3.8% |
| EPS (diluted) | — | -$1.15 | -$2.21 | -$0.67 | $0.10 | -$0.46 | -$0.56 | -$0.69 |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $112M | $150M | $496M | $182M | $270M | $514M | $620M | $759M |
| Capital expenditures | $74.0M | $11.0M | $38.0M | $55.0M | $79.0M | $86.0M | $84.0M | $96.0M |
| Free cash flow | $38.0M | $139M | $458M | $127M | $191M | $428M | $536M | $663M |
| Share buybacks | — | — | $30.0M | $0.00 | $44.0M | $41.0M | $0.00 | $75.0M |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $54.0M | $138M | $515M | $1.19B | $605M | $479M | $499M | $912M |
| Total assets | — | $4.01B | $4.07B | $5.16B | $8.09B | $7.59B | $8.15B | $8.94B |
| Total liabilities | — | $2.25B | $2.51B | $2.84B | $5.17B | $4.72B | $5.20B | $5.53B |
| Long-term debt | — | $1.17B | $1.40B | $1.77B | $2.58B | $2.32B | $2.75B | $2.75B |
| Shareholders' equity | $633M | $1.76B | $1.56B | $2.32B | $2.13B | $2.07B | $2.95B | $3.41B |
| Retained earnings | — | -$131M | -$284M | -$237M | -$164M | -$11.0M | $215M | $517M |
| Shares (wtd avg diluted) | — | 133M | 169M | 206M | 266M | 353M | 402M | 416M |
Every figure is extracted from APi Group Corp’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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