Api Group Corp (APG)
Financial leverage ratio
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 8,098,000 | 8,152,000 | 8,245,000 | 7,961,000 | 7,192,000 | 7,590,000 | 7,949,000 | 7,974,000 | 7,766,000 | 8,091,000 | 7,941,000 | 8,054,000 | 8,142,000 | 5,159,000 | 4,783,000 | 4,243,000 | 4,218,000 | 4,065,000 | 3,826,000 | 3,770,000 |
| Total stockholders’ equity | US$ in thousands | 2,982,000 | 2,953,000 | 2,967,000 | 2,835,000 | 2,301,000 | 2,868,000 | 2,232,000 | 3,044,000 | 2,165,000 | 2,127,000 | 2,947,000 | 2,953,000 | 3,075,000 | 2,323,000 | 2,297,000 | 1,828,000 | 1,791,000 | 1,558,000 | 1,598,000 | 1,565,000 |
| Financial leverage ratio | 2.72 | 2.76 | 2.78 | 2.81 | 3.13 | 2.65 | 3.56 | 2.62 | 3.59 | 3.80 | 2.69 | 2.73 | 2.65 | 2.22 | 2.08 | 2.32 | 2.36 | 2.61 | 2.39 | 2.41 |
March 31, 2025 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $8,098,000K ÷ $2,982,000K
= 2.72
The financial leverage ratio of Api Group Corp has exhibited notable fluctuations over the period from June 2020 through March 2025. Initially, the ratio was approximately 2.41 as of June 30, 2020, indicating that the company employed a moderate level of leverage. During the subsequent quarters, the ratio experienced minor fluctuations, maintaining values generally ranging between 2.08 and 2.73 until the end of 2022.
A significant upward shift occurred at the close of 2022, with the ratio reaching 3.80 as of December 31, 2022, reflecting an increased reliance on debt financing relative to equity. This elevated leverage persisted into the first quarter of 2023 but showed a slight decline thereafter, with the ratio settling at around 2.62 as of June 30, 2023.
Subsequently, the ratio increased again, reaching 3.56 on September 30, 2023, before decreasing to 2.65 by the end of December 2023. In the first quarter of 2024, it further rose to 3.13 and then declined gradually through subsequent quarters, reaching approximately 2.72 by March 2025.
Overall, the company's leverage has been characterized by cyclical increases and decreases, with a pronounced peak at the end of 2022 and a subsequent stabilization at a somewhat elevated level compared to the initial period. The variations suggest periods of increased borrowing potentially aligned with strategic initiatives or capital needs, followed by adjustments in debt levels or repayment phases. The moderate to high leverage ratios over the observed period imply a reliance on debt that could influence the company’s financial stability and risk profile, especially during periods of financial or market stress.
Peer comparison
Mar 31, 2025