APi (APG) Gross Margin (2019 - 2026)
APi (APG) reported Gross Margin of 31.28% for Q1 2026, down 25.0% on a YoY basis from 41.71% in Q1 2025, and down 2.33% quarter-over-quarter from 32.03% in Q4 2025.
APi (APG) Gross Margin (2019 - 2026) Analysis & Trends
APi has reported Gross Margin for 8 years, with the latest figure at 31.28% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 25.0% year-over-year to 31.28%; the trailing twelve-month figure through Mar 2026 stood at 31.38% (up 16.0% YoY), and the FY2025 full-year result was 31.44%, up 40.0% from the prior year.
- Gross Margin for Q1 2026 stood at 31.28%, down from 32.03% in the prior quarter.
- The five-year high for Gross Margin was 32.03% in Q4 2025, with the low at 25.36% in Q3 2022.
- Historically, Gross Margin has averaged 29.26% across 5 years, with a median of 30.73% in 2024.
- Annual changes were most pronounced in 2024 — Gross Margin jumped 440 bps — and 2025, when it sank 54 bps.
- APi's Gross Margin stood at 27.19% in 2022, then advanced by 6 bps to 28.88% in 2023, then increased by 7 bps to 30.9% in 2024, then climbed by 4 bps to 32.03% in 2025, then dropped by 2 bps to 31.28% in 2026.
- The last three Gross Margin figures came in at 31.28% (Q1 2026), 32.03% (Q4 2025), and 31.27% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Quanta Services | 103.56 Bn | 103.29 Bn | 1.11 Bn | 14.06% |
| 2 | Comfort Systems Usa | 64.33 Bn | 63.28 Bn | 754.41 Mn | 26.33% |
| 3 | Emcor | 36.81 Bn | 35.90 Bn | 863.95 Mn | 18.67% |
| 4 | Mastec | 27.54 Bn | 27.38 Bn | 477.90 Mn | 12.48% |
| 5 | Sterling Infrastructure | 25.78 Bn | 25.28 Bn | 194.30 Mn | 23.53% |
| 6 | APi | 18.83 Bn | 18.18 Bn | 620.00 Mn | 31.28% |
| 7 | Jacobs Solutions | 14.81 Bn | 13.43 Bn | 794.89 Mn | 21.51% |
| 8 | IES Holdings | 14.35 Bn | 14.09 Bn | 254.79 Mn | 26.15% |
| 9 | Dycom Industries | 13.61 Bn | 12.90 Bn | - | - |
| 10 | TopBuild | 11.46 Bn | 11.19 Bn | 400.25 Mn | 27.68% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 31.28% |
| Dec 31, 2025 | 32.03% |
| Sep 30, 2025 | 31.27% |
| Jun 30, 2025 | 30.90% |
| Mar 31, 2025 | 31.53% |
| Dec 31, 2024 | 30.90% |
| Sep 30, 2024 | 31.05% |
| Jun 30, 2024 | 31.45% |
| Mar 31, 2024 | 30.73% |
| Dec 31, 2023 | 28.88% |
| Sep 30, 2023 | 28.64% |
| Jun 30, 2023 | 28.01% |
| Mar 31, 2023 | 26.33% |
| Dec 31, 2022 | 27.19% |
| Sep 30, 2022 | 25.36% |
| Jun 30, 2022 | 26.38% |
| Mar 31, 2022 | 25.56% |
| Dec 31, 2021 | 24.64% |
| Sep 30, 2021 | 24.07% |
| Jun 30, 2021 | 23.72% |