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Apogee
(NASDAQ:APOG)
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Rating:66Neutral
Price Target:
$43.00
▲(5.24% Upside)
Action:Reiterated
Date:10/07/26
APOG scores in the mid-60s primarily due to solid but not peak-level financial quality: strong revenue and improving earnings are tempered by thinner margins, higher leverage than prior years, and softer recent cash-flow momentum. Valuation is a clear positive (12.5 P/E and ~2.7% yield). The earnings call adds support with raised FY2027 guidance and upbeat execution/integration commentary, while technicals are mixed with trend strength but negative MACD momentum.
Positive Factors
Raised outlook and earnings execution
The raised fiscal 2027 outlook, following stronger-than-expected first-half results, indicates improved execution and visibility into near-term demand. Higher expected sales and earnings provide a stronger base for investment, integration spending, and sustained operating performance over the next several quarters.
Negative Factors
Soft glass demand and lower segment volumes
Persistent weakness and project delays in glass can reduce shipment volumes and leave manufacturing capacity less fully utilized. Because commercial construction timing affects both revenue conversion and operating leverage, prolonged softness could constrain growth and make recovery dependent on delayed project awards.
Read all positive and negative factors
Positive Factors
Negative Factors
Raised outlook and earnings execution
The raised fiscal 2027 outlook, following stronger-than-expected first-half results, indicates improved execution and visibility into near-term demand. Higher expected sales and earnings provide a stronger base for investment, integration spending, and sustained operating performance over the next several quarters.
Read all positive factors
Apogee Key Performance Indicators (KPIs)
Any
Adjusted EBITDA by Segment
Shows the operating profitability of each business unit after removing one-time items and non-cash charges, revealing which segments generate core earnings and which drag on margins. Highlights where management is creating or destroying value, points to segments that fund capital returns or need cost cuts, and helps assess sustainable cash generation and valuation by business line.
Shows the operating profitability of each business unit after removing one-time items and non-cash charges, revealing which segments generate core earnings and which drag on margins. Highlights where management is creating or destroying value, points to segments that fund capital returns or need cost cuts, and helps assess sustainable cash generation and valuation by business line.
Data provided by:
The Fly
The FlyApogee (APOG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$848.15M
Dividend Yield2.64%
Average Volume (3M)314.69K
Price to Earnings (P/E)12.7
Beta (1Y)0.86
Revenue Growth3.01%
EPS Growth55.11%
CountryUS
Employees4,100
SectorIndustrials
Sector Strength72
IndustryConstruction Materials
Share Statistics
EPS (TTM)3.20
Shares Outstanding20,895,600
10 Day Avg. Volume439,863
30 Day Avg. Volume314,688
Financial Highlights & Ratios
PEG Ratio-0.45
Price to Book (P/B)1.64
Price to Sales (P/S)0.60
P/FCF Ratio8.84
Enterprise Value/Market Cap1.39
Enterprise Value/Revenue0.83
Enterprise Value/Gross Profit3.50
Enterprise Value/Ebitda7.38
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.25
Revenue Forecast (FY)$1.48B
Apogee Business Overview & Revenue Model
Company Description
Apogee Enterprises, Inc. provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in...
How the Company Makes Money
Apogee makes money primarily by selling building-envelope products and by providing value-added services tied to commercial construction projects.
Key revenue streams typically include:
- Project-based revenue from custom façade and building-enve...
Apogee Earnings Call Summary
Earnings Call Date:Oct 06, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Apr 08, 2027
Earnings Call Sentiment Positive
The call was strongly positive overall. Apogee reported solid second-quarter revenue, earnings, margin, cash flow, segment execution, backlog growth, and successful acquisition integration, and raised its fiscal 2027 outlook. These positives outweighed ongoing challenges from soft glass demand, lower metals and glass volumes, higher input and manufacturing costs, a decline in the Performance Surfaces margin, and leverage above the historical target.Positive Updates
Strong Second-Quarter Revenue and Earnings
Second-quarter net sales increased 9.2% to $391.1 million, while adjusted diluted EPS increased more than 19% to $1.17, exceeding management's expectations. Results reflected improved operating performance across the business and lower interest expense.
Negative Updates
Lower Volume in Metals and Glass
Consolidated results were partially offset by lower volume in the metals and glass segments as challenging market conditions persisted.
Read all updates
Q2-2027 Updates
Positive
Negative
Strong Second-Quarter Revenue and Earnings
Second-quarter net sales increased 9.2% to $391.1 million, while adjusted diluted EPS increased more than 19% to $1.17, exceeding management's expectations. Results reflected improved operating performance across the business and lower interest expense.
Read all positive updates
Company Guidance
For fiscal 2027, Apogee now expects net sales between $1.46 billion and $1.5 billion and adjusted diluted EPS in the range of $3.00 to $3.40, with interest expense of approximately $15 million, an adjusted effective tax rate of approximately 26%, and capital expenditures between $35 million and $40 million. Kalwall and GrowGlass are expected to contribute meaningful to revenue growth, while their impact on adjusted diluted EPS is expected to be modest in fiscal 2027; Kalwall’s first 12-month financial targets are approximately $85 million in revenue and a 15% adjusted EBITDA margin, and GrowGlass is expected to deliver approximately $30 million in revenue and a 25% adjusted EBITDA margin in the first 12-months. Net sales and adjusted diluted EPS are expected to be relatively balanced across the third and fourth quarters.Apogee Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
62
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Feb 2026 | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.43B | 1.40B | 1.36B | 1.42B | 1.44B | 1.31B |
| Gross Profit | 337.54M | 319.47M | 364.08M | 372.63M | 335.27M | 302.36M |
| EBITDA | 160.26M | 141.43M | 184.93M | 187.82M | 168.19M | 152.01M |
| Net Income | 67.08M | 54.13M | 85.05M | 99.61M | 104.11M | 3.49M |
Balance Sheet | ||||||
| Total Assets | 1.24B | 1.12B | 1.18B | 884.06M | 915.37M | 887.86M |
| Cash, Cash Equivalents and Short-Term Investments | 42.45M | 39.52M | 46.25M | 40.01M | 19.92M | 37.58M |
| Total Debt | 382.51M | 286.38M | 351.92M | 106.19M | 214.72M | 215.34M |
| Total Liabilities | 720.77M | 610.55M | 687.37M | 413.04M | 518.96M | 501.66M |
| Stockholders Equity | 523.33M | 511.79M | 487.90M | 471.02M | 396.41M | 386.20M |
Cash Flow | ||||||
| Free Cash Flow | 95.17M | 95.16M | 89.57M | 160.97M | 57.52M | 78.63M |
| Operating Cash Flow | 128.44M | 122.47M | 125.16M | 204.15M | 102.70M | 100.47M |
| Investing Cash Flow | -141.47M | -30.53M | -265.89M | -43.67M | -27.71M | 9.28M |
| Financing Cash Flow | 7.83M | -96.18M | 146.05M | -144.61M | -91.02M | -120.57M |
Apogee Technical Analysis
Positive
40.86
Price Trends
39.48
Positive
39.45
Positive
37.72
Positive
Market Momentum
0.18
Negative
62.25
Neutral
75.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APOG, the sentiment is Positive. The current price of 40.86 is above the 20-day moving average (MA) of 37.43, above the 50-day MA of 39.48, and above the 200-day MA of 37.72, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 62.25 is Neutral, neither overbought nor oversold. The STOCH value of 75.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for APOG.
Apogee Risk Analysis
Apogee disclosed 17 risk factors in its most recent earnings report. Apogee reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Apogee Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $6.84B | 22.14 | 35.36% | 0.84% | 8.57% | 8.25% | |
67 Neutral | $4.10B | 20.04 | 198.41% | 0.97% | -12.03% | 209.72% | |
66 Neutral | $848.15M | 12.68 | 13.03% | 2.64% | 3.01% | 55.11% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $838.16M | 18.41 | 6.19% | 1.75% | 1.26% | ― | |
62 Neutral | $1.67B | 13.23 | 17.29% | 1.60% | 9.87% | -26.90% | |
51 Neutral | $9.02B | -14.02 | -17.10% | 2.68% | -11.79% | -310.77% |
* Industrials Sector Average
APOG
Apogee
40.94
3.28
8.72%
AWI
Armstrong World
161.87
-32.47
-16.71%
GFF
Griffon
89.74
17.57
24.35%
OC
Owens Corning
112.61
-9.61
-7.86%
NX
Quanex
18.39
5.11
38.50%
TGLS
Tecnoglass
37.57
-24.74
-39.71%
Apogee Corporate Events
Business Operations and StrategyM&A Transactions
Apogee Completes Strategic Acquisition of Groglass Coating Specialist
Positive
Sep 23, 2026
On September 18, 2026, Apogee Enterprises completed its acquisition of Latvian glass-coating specialist Groglass and related entities via its Tiger MergeCo SIA subsidiary, under a share purchase agreement signed September 2, 2026. The transaction ...
Business Operations and StrategyExecutive/Board Changes
Apogee Adds Experienced Independent Director to Board
Positive
Sep 14, 2026
On September 14, 2026, Apogee Enterprises announced that its Board of Directors had elected Julie K. Streich as an independent director and appointed her to the Board’s Audit Committee, effective September 11, 2026. The company’s leade...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Apogee to Acquire Groglass, Expanding Performance Surfaces
Positive
Sep 3, 2026
On September 2, 2026, Apogee Enterprises announced a definitive agreement to acquire Latvian-based Groglass, a provider of high-performance glass surface solutions specializing in anti-reflective and advanced coatings, for up to €62.5 millio...
Business Operations and StrategyExecutive/Board Changes
Apogee Elects Mr. Hayek, Updating Leadership Structure
Neutral
Aug 5, 2026
Apogee announced the election of Mr. Hayek, signaling a change in its leadership structure. The move indicates a potential shift in governance or strategic direction, though the company provided no additional operational or financial details in th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.