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Stocks APG DCF valuation

DCF valuation

What is APi Group Corp worth?

With the base-case assumptions below, a discounted cash flow model on APi Group Corp's reported free cash flow gives $44.99 per share. The share price was $42.79 on November 10, 2026, 5% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$663M
Average free cash flow, last 5 years
$389M
Cash
$373M
balance sheet of September 30, 2026
Debt
$3.57B
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
415,709,895
Revenue growth per year, last 5 years
17.1%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$24.32-43%
Base15.0%9.0%2.5%9.0%$44.99+5%
Bull20.0%11.5%3.0%8.0%$83.49+95%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$60.65$65.53$71.49$78.95$88.54
8.0%$48.89$52.05$55.79$60.28$65.77
9.0%$40.33$42.50$44.99$47.91$51.35
10.0%$33.84$35.38$37.13$39.12$41.42
11.0%$28.77$29.90$31.16$32.58$34.18

Where the presets come from

Base: years 1 to 5 grow at APi Group Corp's revenue growth rate over the last 5 fiscal years (17.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

APi Group Corp company page