Is APi Group Corp. overvalued or undervalued?

As of 31 October 2025, the valuation grade for APi Group Corp. moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company appears overvalued based on its high valuation ratios, including a P/E ratio of 64, a Price to Book Value of 4.59, and an EV to EBITDA of 33.63. In comparison to peers, TopBuild Corp. has a more reasonable P/E of 24.98, while Tetra Tech, Inc. is also classified as very expensive with a P/E of 38.41.
Despite the high valuation, APi Group Corp. has shown impressive stock performance, with a year-to-date return of 53.54% compared to the S&P 500's 16.30%. This strong performance may reflect investor optimism, but the elevated valuation metrics suggest that the stock may not be a sustainable investment at current levels.