Api Group Corp (APG) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Professional & Commercial Services · as of Aug 11, 2026
Api Group Corp (APG)
A forensic read on Api Group Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
4.9
Distress distance
Clean
Earnings quality
4
Forensic signals
52.0
P / E (ttm)
8.9%
ROE
$18.2B
Market cap
12.7%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Api Group Corp earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 4.9, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
6.9%
FY2025
Return on invested capital.Return on invested capital is 6.9% in the latest fiscal year and rising from 2% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+16.0%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +56% over the last 3 years to FY2025 (+16.0%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~16.0% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~36%.
$201M
FY2020–FY2023
Goodwill impairments.Took $201M of goodwill writedowns across 2 years (FY2020 ($197M), FY2023 ($4M)) — about 168% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.
0.6% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 0.6% of revenue and 7% of free cash flow in FY2025 — about $0.11 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 16.6% a year and is falling.
Key fundamentals
Latest Revenue$7.91B
Revenue Growth YoY+12.7%
Revenue CAGR (3yr)+6.5%
Net Margin3.8%
Free Cash Flow$663.0M
Return on Equity8.9%
Debt / Equity0.81x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Api Group Corp's actual 10-K/10-Q/8-K filings?