Filing Flows › APi Group (APG) › How it makes money
How APi Group (APG) makes money
APi Group (APG) made $2.6B of revenue in the third quarter 2026 (Q3 2026), +22% from a year earlier. Life Safety brought in $1.7B (65%); Specialty Contracting brought in $421M (16%); Infrastructure and Utility brought in $349M (14%). Of every dollar of revenue, 30¢ was left as gross profit, 8¢ was left as operating profit, 4¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Life Safety | $1.7B | 65.0% | +12% | +18% |
| Specialty Contracting | $421M | 16.5% | +13% | +46% |
| Infrastructure and Utility | $349M | 13.7% | +17% | +20% |
| Fabrication and Distribution | $123M | 4.8% | +22% | +19% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $2.6B | 100.0% |
| Cost of revenue | $1.8B | 69.8% |
| Gross profit | $770M | 30.1% |
| Operating expenses | $568M | 22.2% |
| Operating profit | $202M | 7.9% |
| Income tax | $41.0M | 1.6% |
| Net earnings | $114M | 4.5% |
| Operating cash flow | $225M | 8.8% |
| Free cash flow | $198M | 7.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $2.6B | +22% |
| Q2 2026 | $2.3B | +13% |
| Q1 2026 | $2.0B | +15% |
| Q4 2025 | $2.1B | +14% |
| Q3 2025 | $2.1B | +14% |
| Q2 2025 | $2.0B | +15% |
| Q1 2025 | $1.7B | +7% |
From APi Group's 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does APi Group make money?
APi Group (APG) made $2.6B of revenue in the third quarter 2026 (Q3 2026), +22% from a year earlier. Life Safety brought in $1.7B (65%); Specialty Contracting brought in $421M (16%); Infrastructure and Utility brought in $349M (14%). Of every dollar of revenue, 30¢ was left as gross profit, 8¢ was left as operating profit, 4¢ was left as net earnings.
What is APi Group's biggest business?
Life Safety: $1.7B in the third quarter 2026, 65% of revenue, +18% from a year earlier.
What is APi Group's profit margin?
Net earnings were $114M, 4.5% of revenue, in the third quarter 2026; the operating margin was 7.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.