APOGEE ENTERPRISES, INC. APOG
Apogee Enterprises, Inc. (Apogee, we, us, our or the Company) was incorporated under the laws of the State of Minnesota in 1949. We are a leading provider of architectural building products and services, as well as high-performance coated materials used in a variety of applications.
•The Architectural Metals Segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems used primarily in non-residential construction. In fiscal 2026, this segment accounted for approximately 36% of our net sales.
•The Architectural Services Segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install architectural curtainwall and other façade-related systems used primarily in non-residential construction. In fiscal 2026, this segment accounted for approximately 31% of our net sales.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.40B | $1.36B | $1.42B | $1.44B | $1.31B | $1.23B | $1.39B | $1.40B | $1.33B | $1.11B |
| Cost of revenue | $1.09B | $1.00B | $1.05B | $1.11B | $1.04B | $955.1M | $1.07B | $1.11B | $992.7M | $822.5M |
| Gross profit | $319.5M | $359.9M | $367.1M | $335.3M | $274.2M | $275.7M | $319.0M | $293.6M | $333.5M | $292.0M |
| R&D | $11.2M | $29.0M | $30.3M | $25.5M | $17.3M | $15.3M | $16.6M | $19.5M | $14.0M | $8.6M |
| SG&A | $235.0M | $241.8M | $233.3M | $209.5M | $202.6M | $180.1M | $231.1M | $223.1M | $219.2M | $169.8M |
| Operating income | $84.5M | $118.1M | $133.8M | $125.8M | $22.0M | $25.5M | $87.8M | $67.3M | $114.3M | $122.2M |
| Interest expense | $14.0M | $6.2M | $6.7M | $7.7M | $4.6M | $5.6M | $9.2M | $8.4M | $5.5M | $971.0K |
| Pre-tax income | $77.5M | $112.6M | $129.3M | $116.6M | $13.9M | $22.6M | $79.8M | $58.7M | $109.9M | $122.8M |
| Income tax | $23.3M | $27.5M | $29.6M | $12.5M | $10.4M | $7.2M | $17.8M | $13.0M | $30.4M | $37.0M |
| Net income | $54.1M | $85.1M | $99.6M | $104.1M | $3.5M | $15.4M | $61.9M | $45.7M | $79.5M | $85.8M |
| EPS, basic | 2.54 | 3.91 | 4.55 | 4.73 | 0.14 | 0.59 | 2.34 | 1.64 | 2.79 | 2.98 |
| EPS, diluted | 2.52 | 3.89 | 4.51 | 4.64 | 0.14 | 0.59 | 2.32 | 1.63 | 2.76 | 2.97 |
| Shares, diluted (wtd. avg.) | $21.5M | $21.9M | $22.1M | $22.4M | $25.3M | $26.3M | $26.7M | $28.1M | $28.8M | $28.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $39.5M | $41.4M | $37.2M | $21.5M | $37.6M | $47.3M | $15.0M | $29.2M | $19.4M | $27.3M |
| Short-term investments | $6.1M | $4.8M | — | — | — | — | — | — | $423.0K | $548.0K |
| Receivables | $198.5M | $185.6M | $173.6M | $197.3M | $168.6M | $175.9M | $196.8M | $192.8M | $211.9M | $185.7M |
| Inventory | $98.1M | $92.3M | $69.2M | $78.4M | $80.5M | $72.8M | $71.1M | $78.3M | $80.9M | $73.4M |
| Total current assets | $439.4M | $442.1M | $358.6M | $383.1M | $337.9M | $350.7M | $381.9M | $371.9M | $336.3M | $297.5M |
| Property, plant and equipment | $255.0M | $268.1M | $244.2M | $248.9M | $250.0M | $298.4M | $324.4M | $315.8M | $304.1M | $246.7M |
| Goodwill | $236.7M | $235.8M | $129.2M | $129.0M | $130.1M | $130.1M | $185.5M | $185.8M | $181.0M | $101.3M |
| Other intangibles | $111.3M | $128.4M | $66.1M | $67.4M | $72.5M | $130.1M | $140.2M | $148.2M | $167.3M | $106.7M |
| Total assets | $1.12B | $1.18B | $884.1M | $915.4M | $887.9M | $1.02B | $1.13B | $1.07B | $1.02B | $784.7M |
| Accounts payable | $105.5M | $98.8M | $84.8M | $86.5M | $92.1M | $76.2M | $69.1M | $72.2M | $68.4M | $63.2M |
| Short-term debt | — | — | — | $0 | $1.0M | $2.0M | $5.4M | $0 | — | — |
| Total current liabilities | $266.9M | $285.5M | $244.7M | $242.5M | $232.9M | $217.6M | $276.9M | $227.5M | $208.2M | $186.1M |
| Long-term debt | $232.3M | $285.0M | $62.0M | $169.8M | $162.0M | $163.0M | $212.5M | $245.7M | $215.9M | $65.4M |
| Retained earnings | $376.4M | $360.0M | $340.4M | $273.7M | $254.8M | $357.2M | $388.0M | $367.6M | $373.3M | $342.0M |
| Total equity | $511.8M | $487.9M | $471.0M | $396.4M | $386.2M | $492.7M | $516.8M | $496.3M | $511.4M | $470.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $122.5M | $125.2M | $204.2M | $102.7M | $100.5M | $141.9M | $107.3M | $96.4M | $127.5M | $124.0M |
| Depreciation and amortisation | $50.0M | $44.6M | $41.6M | $42.4M | $50.0M | $51.4M | $46.8M | $49.8M | $54.8M | $35.6M |
| Stock-based compensation | $8.2M | $10.7M | $9.7M | $8.7M | $6.3M | $8.6M | $6.6M | $6.3M | $6.2M | $6.0M |
| Capital expenditure | $27.3M | $35.6M | $43.2M | $45.2M | $21.8M | $26.2M | $51.4M | $60.7M | $53.2M | $68.1M |
| Investing cash flow | -$30.5M | -$265.9M | -$43.7M | -$27.7M | $9.3M | -$2.1M | -$47.0M | -$53.7M | -$233.6M | -$175.9M |
| Financing cash flow | -$96.2M | $146.0M | -$144.6M | -$91.0M | -$120.6M | -$107.9M | -$74.5M | -$32.3M | $98.3M | $18.7M |
| Dividends paid | $22.2M | $21.7M | $21.1M | $19.7M | $20.3M | $19.6M | $18.7M | $17.9M | $16.4M | $14.7M |
| Buybacks | $15.0M | $45.4M | $11.8M | $74.3M | $100.4M | $32.9M | $25.1M | $43.3M | $33.7M | $10.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000006845-26-000036.