Investment Thesis
Apogee Enterprises demonstrates solid financial health with strong liquidity (1.90x current ratio) and manageable leverage (0.50x debt/equity), generating healthy free cash flow of $48.3M. However, stagnant revenue growth (+0.0% YoY) combined with modest profitability margins (3.6% net margin) and declining diluted EPS (-13.7% YoY) suggest limited momentum in a mature glass products market.
APOG Strengths
- Strong balance sheet with low debt-to-equity ratio of 0.50x, providing financial flexibility
- Solid liquidity metrics (current ratio 1.90x, quick ratio 1.45x) indicating ability to meet short-term obligations
- Healthy free cash flow generation of $48.3M ($66.6M operating cash flow minus $18.3M capex) supporting dividend or debt reduction capacity
- Adequate interest coverage of 5.3x demonstrating comfortable ability to service debt obligations
APOG Risks
- Revenue growth completely stagnant at 0.0% YoY, indicating no top-line expansion in competitive market
- Declining EPS of -13.7% YoY signals deteriorating bottom-line performance despite flat revenue
- Low profitability margins across all levels (3.6% net margin, 5.6% operating margin, 22.9% gross margin) limit earnings power
- Weak return metrics (ROE 7.3%, ROA 3.4%) suggest inefficient capital deployment relative to asset base
- High insider trading activity (15 Form 4 filings in 90 days) warrants monitoring for potential strategic shifts
Key Metrics to Watch
- Quarterly revenue trend to confirm stagnation or emergence of growth
- Operating margin trajectory and cost structure management
- Free cash flow sustainability and capital allocation decisions
- Debt reduction progress and leverage ratios over time
APOG Financial Metrics
APOG Profitability Ratios
APOG Balance Sheet & Liquidity
APOG 5-Year Financial Trend
5-Year Trend Summary: APOGEE ENTERPRISES, INC.'s revenue has shown modest growth of 3% over the 5-year period. The most recent EPS of $4.64 reflects profitable operations.
APOG Growth Metrics (YoY)
APOG Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2026 | $341.3M | -$2.7M | $0.77 |
| Q2 2026 | $342.4M | -$2.7M | $0.97 |
| Q1 2026 | $331.5M | -$2.7M | $-0.13 |
| Q3 2025 | $339.7M | $21.0M | $0.96 |
| Q2 2025 | $342.4M | $23.6M | $1.40 |
| Q1 2025 | $331.5M | $23.6M | $1.05 |
| Q3 2024 | $339.7M | $22.7M | $1.07 |
| Q2 2024 | $353.7M | $22.7M | $1.52 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
APOG Capital Allocation
APOG SEC Filings
Access official SEC EDGAR filings for APOGEE ENTERPRISES, INC. (CIK: 0000006845)