APOGEE ENTERPRISES, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data APOGEE ENTERPRISES, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	1,115	1,326	1,403	1,387	1,231	1,314	1,441	1,417	1,361	1,405
Cost of revenue	823	993	1,109	1,068	955	1,040	1,105	1,050	1,001	1,085
Gross profit	292	334	294	319	276	274	335	367	360	319
Research and development	8.6	14	19.5	16.6	15.3	17.3	25.5	30.3	29	11.2
Selling, general and administrative	170	219	223	231	180	203	209	233	242	235
Operating income	122	114	67.3	87.8	25.5	22	126	134	118	84.5
Interest expense	0.97	5.51	8.45	9.22	5.59	4.56	7.66	6.67	6.16	14
Interest income	1.01	0.54	0.36				0.77	1.32	2.64	2.48
Other non-operating income	0.54	0.57	-0.53	0.72	1.49	-4.41	-1.51	2.09	0.62	6.96
Pre-tax income	123	110	58.7	79.8	22.6	13.9	117	129	113	77.5
Income tax	37	30.4	13	17.8	7.18	10.4	12.5	29.6	27.5	23.3
Net income	85.8	79.5	45.7	61.9	15.4	3.49	104	99.6	85.1	54.1
EBITDA	158	169	117	135	77	72	168	175	163	134
EPS, basic	2.98	2.79	1.64	2.34	0.59	0.14	4.73	4.55	3.91	2.54
EPS, diluted	2.97	2.76	1.63	2.32	0.59	0.14	4.64	4.51	3.89	2.52
Shares, basic (weighted)	28.8	28.5	27.8	26.5	26	24.9	22	21.9	21.7	21.3
Shares, diluted (weighted)	28.9	28.8	28.1	26.7	26.3	25.3	22.4	22.1	21.9	21.5
Dividend per share	0.52	0.58	0.65	0.71	0.76	0.82	0.90	0.97	1.01	1.05

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	27.3	19.4	17.1	15	47.3	37.6	19.9	37.2	41.4	39.5
Short-term investments	0.55	0.42							4.8	6.14
Receivables	186	212	193	197	176	169	197	174	186	199
Inventory	73.4	80.9	78.3	71.1	72.8	80.5	78.4	69.2	92.3	98.1
Other current assets	8.72	20	16.5	25.5	25.2	20.8	26.5	29.1	50.9	43.8
Total current assets	297	336	372	382	351	338	383	359	442	439
Property, plant and equipment	247	304	316	324	298	250	249	244	268	255
Lease right-of-use assets			0	52.9	58.9	47.9	41.4	40.2	62.3	48.7
Goodwill	101	181	186	186	130	130	129	129	236	237
Intangible assets	107	167	148	140	130	72.5	67.4	66.1	128	111
Long-term investments	9.04	8.63
Other non-current assets	19.4	33.7	46.4	44.1	47	49.5	45.6	45.7	38.5	31.1
Total assets	785	1,022	1,068	1,129	1,015	888	915	884	1,175	1,122
Accounts payable	63.2	68.4	72.2	69.1	76.2	92.1	86.5	84.8	98.8	105
Accrued liabilities	51.2	36.6	41.1	40.1	50.1	51	51.7	53.8	48.5	39.7
Deferred revenue		7.66	21.5	32.7	22.8	8.66	28	34.8	35.2	60.9
Short-term debt			0	5.4	2	1	0
Total current liabilities	186	208	228	277	218	233	243	245	285	267
Long-term debt	65.4	216	246	213	163	162	170	62	285	232
Lease liabilities			0	43.2	48.4	39.6	33.1	31.9	51.6	39.4
Other non-current liabilities	45.8	70.6	77.2	56.9	68.5	44.6	44.2	43.9	34.9	47.1
Total liabilities	314	511	572	612	522	502	519	413	687	611
Total debt	65.4	216	246	218	165	163	170	62	285	232
Paid-in capital	150	153	152	154	155	150	147	153	156	159
Retained earnings	342	373	368	388	357	255	274	340	360	376
Other comprehensive income	-31.1	-24.1	-32.1	-34.1	-28	-26.2	-31.6	-29.5	-35.3	-30.8
Shareholders' equity	471	511	496	517	493	386	396	471	488	512
Total equity	471	511	496	517	493	386	396	471	488	512
Total liabilities and equity	785	1,022	1,068	1,129	1,015	888	915	884	1,175	1,122
Shares outstanding	28.7	28.2	27	26.4	25.7	23.7	22.2	22.1	21.4	21.2

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	85.8	79.5	45.7	61.9	15.4	3.49	104	99.6	85.1	54.1
Depreciation and amortization	35.6	54.8	49.8	46.8	51.4	50	42.4	41.6	44.6	50
Stock-based compensation	5.99	6.21	6.29	6.61	8.57	6.29	8.66	9.72	10.7	8.25
Deferred income tax	-1.07	3.2	-5.51	10.5	-6.46	-7.96	-7.19	-9.75	3.84	15.5
Change in receivables	3.46	18.2	18.2	-4.22	21.6	7.52	-62.3	24	-0.51	-12.4
Change in inventory	-10.3	10.4	5.11	7.14	-1.44	-7.71	1.73	9.37	-5.81	-5.34
Change in payables	17.4	-25.6	7.6	-0.38	-32.6	14.7	-5.49	-2.66	9.6	5.52
Cash from operations	124	127	96.4	107	142	100	103	204	125	122
Capital expenditures	-68.1	-53.2	-60.7	-51.4	-26.2	-21.8	-45.2	-43.2	-35.6	-27.3
Acquisitions	-138	-183	0	0			0	0	-232	0
Purchases of investments	-3.71	-10.2	-9.21	-7.01	-3.75	-1.04	0	-2.95	-2.39	-9.67
Sales and maturities of investments	36.4	10.5	6.11	7.77	2.66	1.56	9.71	2.17
Cash from investing	-176	-234	-53.7	-47	-2.15	9.28	-27.7	-43.7	-266	-30.5
Debt repaid	-0.4	0.16					-151	0	-47
Stock issued	1.9	0.8	0.2	0	1.46	4.12	0	0
Share buybacks	-10.8	-33.7	-43.3	-25.1	-32.9	-100	-74.3	-11.8	-45.4	-15
Dividends paid	-14.7	-16.4	-17.9	-18.7	-19.6	-20.3	-19.7	-21.1	-21.7	-22.2
Cash from financing	18.7	98.3	-32.3	-74.5	-108	-121	-91	-145	146	-96.2
Exchange rate effect	0.09	-0.17	-0.52	0	0.49	1.12	-0.07	-0.13	-1.09	2.32
Net change in cash	-33.3	-7.77	10.4	-14.3	31.8	-9.69	-16.1	15.7	4.23	-1.93
Free cash flow	55.9	74.3	35.7	55.8	116	78.6	57.5	161	89.6	95.2
Interest paid	0.8	5.3	8.1	9.1	4.6	3.5	8.2	9.3	8.1	16.7
Income taxes paid	47.8	25.7	16.5	17.8	14.1	8.2	27.4	33	29.6	4.15

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to May 30, 2026; growth uses fiscal years. Valuation uses the share price of $37.15 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	22.8%	Gross profit / revenue.
Operating margin	6.9%	Operating income / revenue.
EBITDA margin	10.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	6.5%	Pre-tax income / revenue.
Net margin	4.9%	Net income / revenue.
FCF margin	8.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.7%	Cash from operations / revenue.
Effective tax rate	24.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.2%	Net income / average total assets.
Return on invested capital (ROIC)	10.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	15.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.9%	Capital expenditures / revenue.
D&A / revenue	3.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-11.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-1.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-28.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-12.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	27.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-17.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-7.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	11.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-36.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-19.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	28.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-35.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-18.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	33.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-2.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-2.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	6.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	18.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-3.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.3%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	6.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	4.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-4.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.76x	Current assets / current liabilities.
Quick ratio	0.89x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.11x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.46x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	21.6%	Total debt / total assets.
Liabilities / assets	53.5%	Total liabilities / total assets.
Net debt	$211.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.44x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	7.43x	Operating income / interest expense.
Working capital	$185.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	31.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$166.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.27x	Revenue / average total assets.
Fixed asset turnover	5.65x	Revenue / average property, plant and equipment.
Inventory turnover	10.6x	Cost of revenue / average inventory.
Days inventory	34 days	365 x average inventory / cost of revenue.
Receivables turnover	7.29x	Revenue / average receivables.
Days sales outstanding	50 days	365 x average receivables / revenue.
Days payables	29 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	55 days	Days inventory + days sales outstanding - days payables.
FCF conversion	180.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	17.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.21	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$65.73	Revenue / diluted weighted shares.
FCF per share	$5.78	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.02	Cash from operations / diluted weighted shares.
Book value per share	$24.31	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.92	Tangible book value / shares outstanding.
Cash per share	$1.26	(Cash + short-term investments) / shares outstanding.
Payout ratio	32.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	18.1%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	20.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$775.3M	Share price x shares outstanding.
Enterprise value	$986.2M	Market cap + total debt - cash - short-term investments.
P/E	11.3x	Market cap / net income. Only when net income is positive.
P/S	0.55x	Market cap / revenue.
P/B	1.51x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.65x	Market cap / tangible book value, when positive.
P/FCF	6.29x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.18x	Market cap / cash from operations, when positive.
EV/Sales	0.70x	Enterprise value / revenue.
EV/EBIT	10.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.73x	Enterprise value / EBITDA, when both are positive.
EV/FCF	8.00x	Enterprise value / free cash flow, when both are positive.
FCF yield	15.9%	Free cash flow / market cap.
Earnings yield	8.8%	Net income / market cap (the inverse of P/E).
Dividend yield	2.9%	Dividends paid over the period / market cap.
Shareholder yield	6.1%	(Dividends paid + share buybacks) / market cap.

What was APOGEE ENTERPRISES, INC.'s revenue in fiscal 2026?

APOGEE ENTERPRISES, INC. reported revenue of $1.40B for fiscal 2026, 3.2% higher than the year before.

Was APOGEE ENTERPRISES, INC. profitable in fiscal 2026?

Yes. Net income was $54.1M, a net margin of 3.9%.

How much free cash flow did APOGEE ENTERPRISES, INC. generate in fiscal 2026?

Cash from operations of $122.5M minus capital expenditures of $27.3M left free cash flow of $95.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to APOGEE ENTERPRISES, INC.