APi (APG) Operating Margin (2019 - 2026)
APi (APG) reported Operating Margin of 5.2% for Q1 2026, up 31.0% on a YoY basis from 3.97% in Q1 2025, and down 32.92% quarter-over-quarter from 7.75% in Q4 2025.
APi (APG) Operating Margin (2019 - 2026) Analysis & Trends
APi has reported Operating Margin for 8 years, with the latest figure at 5.2% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 31.0% year-over-year to 5.2%; the trailing twelve-month figure through Mar 2026 stood at 7.01% (up 45.0% YoY), and the FY2025 full-year result was 7.0%, up 11.0% from the prior year.
- Operating Margin for Q1 2026 stood at 5.2%, down from 7.75% in the prior quarter.
- The five-year high for Operating Margin was 7.82% in Q3 2025, with the low at 0.48% in Q1 2022.
- Historically, Operating Margin has averaged 5.12% across 5 years, with a median of 5.83% in 2023.
- Annual changes were most pronounced in 2022 — Operating Margin soared 953 bps — and 2025, when it plunged 136 bps.
- APi's Operating Margin stood at 2.88% in 2022, then jumped by 48 bps to 4.26% in 2023, then surged by 46 bps to 6.23% in 2024, then increased by 24 bps to 7.75% in 2025, then sank by 33 bps to 5.2% in 2026.
- The last three Operating Margin figures came in at 5.2% (Q1 2026), 7.75% (Q4 2025), and 7.82% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Quanta Services | 103.56 Bn | 103.29 Bn | 1.11 Bn | 4.30% |
| 2 | Comfort Systems Usa | 64.33 Bn | 63.28 Bn | 754.41 Mn | 16.95% |
| 3 | Emcor | 36.81 Bn | 35.90 Bn | 863.95 Mn | 8.73% |
| 4 | Mastec | 27.54 Bn | 27.38 Bn | 477.90 Mn | 3.70% |
| 5 | Sterling Infrastructure | 25.78 Bn | 25.28 Bn | 194.30 Mn | 16.69% |
| 6 | APi | 18.83 Bn | 18.18 Bn | 620.00 Mn | 5.20% |
| 7 | Jacobs Solutions | 14.81 Bn | 13.43 Bn | 794.89 Mn | -2.20% |
| 8 | IES Holdings | 14.35 Bn | 14.09 Bn | 254.79 Mn | 11.52% |
| 9 | Dycom Industries | 13.61 Bn | 12.90 Bn | - | - |
| 10 | TopBuild | 11.46 Bn | 11.19 Bn | 400.25 Mn | 12.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 5.20% |
| Dec 31, 2025 | 7.75% |
| Sep 30, 2025 | 7.82% |
| Jun 30, 2025 | 7.19% |
| Mar 31, 2025 | 4.89% |
| Dec 31, 2024 | 6.23% |
| Sep 30, 2024 | 7.78% |
| Jun 30, 2024 | 7.28% |
| Mar 31, 2024 | 6.25% |
| Dec 31, 2023 | 4.26% |
| Sep 30, 2023 | 5.83% |
| Jun 30, 2023 | 6.04% |
| Mar 31, 2023 | 4.52% |
| Dec 31, 2022 | 2.88% |
| Sep 30, 2022 | 3.52% |
| Jun 30, 2022 | 0.12% |
| Mar 31, 2022 | -0.48% |
| Dec 31, 2021 | -6.65% |
| Sep 30, 2021 | 3.92% |
| Jun 30, 2021 | 0.61% |