Overall APG gets a fundamental rating of 5 out of 10. We evaluated APG against 55 industry peers in the Construction & Engineering industry. APG has an average financial health and profitability rating. APG has a correct valuation and a medium growth rate.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

In the past year APG was profitable.
In the past year APG had a positive cash flow from operations.
In the past 5 years APG reported 4 times negative net income.
In the past 5 years APG always reported a positive cash flow from operatings.

1.2 Ratios

APG has a worse Return On Assets (1.79%) than 60.00% of its industry peers.
The Return On Equity of APG (4.76%) is worse than 60.00% of its industry peers.
APG has a Return On Invested Capital of 6.29%. This is comparable to the rest of the industry: APG outperforms 52.73% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for APG is significantly below the industry average of 15.97%.
The 3 year average ROIC (4.40%) for APG is below the current ROIC(6.29%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	1.79%
ROE	4.76%
ROIC	6.29%

ROA(3y)-1.5%

ROA(5y)-3.28%

ROE(3y)-4.07%

ROE(5y)-8.43%

ROIC(3y)4.4%

ROIC(5y)3.23%

1.3 Margins

Looking at the Profit Margin, with a value of 2.04%, APG is in line with its industry, outperforming 43.64% of the companies in the same industry.
Looking at the Operating Margin, with a value of 7.76%, APG is in the better half of the industry, outperforming 61.82% of the companies in the same industry.
In the last couple of years the Operating Margin of APG has grown nicely.
APG has a Gross Margin of 31.14%. This is amongst the best in the industry. APG outperforms 83.64% of its industry peers.
APG's Gross Margin has improved in the last couple of years.

		Industry Rank	Sector Rank
OM	7.76%
PM (TTM)	2.04%
GM	31.14%

OM growth 3Y27.83%

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y9.2%

GM growth 5Y9.63%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

APG has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for APG has been increased compared to 1 year ago.
The number of shares outstanding for APG has been increased compared to 5 years ago.
APG has a worse debt/assets ratio than last year.

2.2 Solvency

APG has an Altman-Z score of 3.23. This indicates that APG is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of APG (3.23) is comparable to the rest of the industry.
The Debt to FCF ratio of APG is 5.34, which is a neutral value as it means it would take APG, 5.34 years of fcf income to pay off all of its debts.
APG has a Debt to FCF ratio of 5.34. This is in the better half of the industry: APG outperforms 61.82% of its industry peers.
APG has a Debt/Equity ratio of 0.90. This is a neutral value indicating APG is somewhat dependend on debt financing.
The Debt to Equity ratio of APG (0.90) is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Debt/Equity	0.9
Debt/FCF	5.34
Altman-Z	3.23

ROIC/WACC0.61

WACC10.24%

2.3 Liquidity

A Current Ratio of 1.48 indicates that APG should not have too much problems paying its short term obligations.
The Current ratio of APG (1.48) is better than 70.91% of its industry peers.
APG has a Quick Ratio of 1.41. This is a normal value and indicates that APG is financially healthy and should not expect problems in meeting its short term obligations.
APG has a better Quick ratio (1.41) than 70.91% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.48
Quick Ratio	1.41

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 16.85% over the past year.
The Earnings Per Share has been growing by 20.02% on average over the past years. This is a very strong growth
APG shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.69%.
The Revenue has been growing by 11.39% on average over the past years. This is quite good.

EPS 1Y (TTM)16.85%

EPS 3Y20.02%

EPS 5YN/A

EPS Q2Q%20.59%

Revenue 1Y (TTM)10.69%

Revenue growth 3Y21.22%

Revenue growth 5Y11.39%

Sales Q2Q%14.18%

3.2 Future

Based on estimates for the next years, APG will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.38% on average per year.
APG is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.15% yearly.

EPS Next Y19.34%

EPS Next 2Y17.04%

EPS Next 3Y15.38%

EPS Next 5YN/A

Revenue Next Year12.69%

Revenue Next 2Y9.68%

Revenue Next 3Y8.15%

Revenue Next 5YN/A

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 30.16, APG can be considered very expensive at the moment.
APG's Price/Earnings ratio is a bit cheaper when compared to the industry. APG is cheaper than 65.45% of the companies in the same industry.
When comparing the Price/Earnings ratio of APG to the average of the S&P500 Index (28.60), we can say APG is valued inline with the index average.
Based on the Price/Forward Earnings ratio of 24.81, the valuation of APG can be described as rather expensive.
APG's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. APG is cheaper than 72.73% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 25.83. APG is around the same levels.

		Industry Rank	Sector Rank
PE	30.16
Fwd PE	24.81

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as APG.
APG's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. APG is cheaper than 69.09% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	30.48
EV/EBITDA	21.74

4.3 Compensation for Growth

APG's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
APG's earnings are expected to grow with 15.38% in the coming years. This may justify a more expensive valuation.