Is APi Group Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for APi Group Corp. has moved from attractive to expensive, indicating a shift towards overvaluation. The company appears to be overvalued based on its high P/E ratio of 64, a Price to Book Value of 4.59, and an EV to EBITDA of 20.32. In comparison to peers, MasTec, Inc. has a P/E of 57.22, while TopBuild Corp. is at 24.98, highlighting that APi Group Corp. is trading at a significant premium relative to its industry counterparts.
Despite the overvaluation, APi Group Corp. has shown strong performance, with a year-to-date return of 42.79% compared to the S&P 500's 13.30%, and a remarkable 5-year return of 236.79% versus the S&P 500's 91.29%. This performance may suggest that the market has high expectations for the company's future growth, yet the current valuation metrics indicate that it may not be justified.