APi Group vs Jacobs Solutions
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The short version
- Jacobs Solutions is the larger business, with $12.0B of revenue in fiscal 2025 against $7.9B for APi Group, about 1.5 times as much.
- APi Group grew revenue faster (12.7%, against 4.6%).
- APi Group turned more of its sales into free cash flow (8.4% FCF margin, against 5.1%).
- Jacobs Solutions earned a higher return on the capital invested in it (10.1%, against 7.7%).
| Latest fiscal year | APG · FY25 | J · FY25 |
|---|---|---|
| Size | ||
| Market cap | $17.2B | $17.2B |
| Revenue | $7.9B | $12.0B |
| Free cash flow | $663M | $607M |
| Net income | $302M | $289M |
| Growth | ||
| Revenue growth | 12.7% | 4.6% |
| 5-year growth | 17.1% | −2.4% |
| Share count change | 3.5% | −3.1% |
| Profitability | ||
| Gross margin | 31.4% | 24.8% |
| Operating margin | 7.0% | 7.2% |
| Net margin | 3.8% | 2.4% |
| FCF margin | 8.4% | 5.1% |
| Return on capital | 7.7% | 10.1% |
| Return on equity | 9.5% | 7.1% |
| Balance sheet | ||
| Net debt | $1.9B | $1.0B |
| Net debt / EBITDA | 2.1x | 1.1x |
| Dividends and buybacks | $75.0M | $907M |
| Valuation & quality | ||
| P/E | — | 50.9x |
| Piotroski F-score | 8 | 7 |
Revenue
FY16
APG —
J $11.0B
FY17
APG —
J $10.0B
FY18
APG —
J $15.0B
FY19
APG —
J $12.7B
FY20
APG $3.6B
J $13.6B
FY21
APG $3.9B
J $14.1B
FY22
APG $6.6B
J $9.8B
FY23
APG $6.9B
J $10.9B
FY24
APG $7.0B
J $11.5B
FY25
APG $7.9B
J $12.0B
APG
J
Operating margin
FY16
APG —
J 3.1%
FY17
APG —
J 2.4%
FY18
APG —
J 2.6%
FY19
APG —
J 3.2%
FY20
APG −4.6%
J 4.0%
FY21
APG 3.5%
J 4.9%
FY22
APG 2.5%
J 5.5%
FY23
APG 5.2%
J 6.2%
FY24
APG 6.9%
J 6.0%
FY25
APG 7.0%
J 7.2%
APG
J
Free cash flow
FY16
APG —
J $612M
FY17
APG —
J $457M
FY18
APG —
J $386M
FY19
APG —
J −$502M
FY20
APG $458M
J $689M
FY21
APG $127M
J $633M
FY22
APG $191M
J $347M
FY23
APG $428M
J $837M
FY24
APG $536M
J $934M
FY25
APG $663M
J $607M
APG
J
Return on capital
FY16
APG —
J 5.9%
FY17
APG —
J 4.2%
FY18
APG —
J 3.4%
FY19
APG —
J 5.3%
FY20
APG —
J 7.2%
FY21
APG 3.0%
J 5.7%
FY22
APG 3.5%
J 5.7%
FY23
APG 5.7%
J 6.4%
FY24
APG 8.0%
J 8.0%
FY25
APG 7.7%
J 10.1%
APG
J
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.