Is APi Group Corp. overvalued or undervalued?

As of 31 October 2025, the valuation grade for APi Group Corp. has moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is currently overvalued, with a P/E ratio of 64, a Price to Book Value of 4.59, and an EV to EBITDA ratio of 20.32. In comparison to peers, MasTec, Inc. has a P/E of 57.22, while TopBuild Corp. presents a more reasonable P/E of 24.98, highlighting the disparity in valuation among industry competitors.
Despite the overvaluation, APi Group Corp. has demonstrated strong returns, with a year-to-date return of 49.21% compared to the S&P 500's 16.30%, and a remarkable 5-year return of 270.14% against the S&P 500's 109.18%. This performance underscores the market's enthusiasm for the stock, even as its valuation metrics suggest it may be priced too high relative to its earnings potential.