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Apogee
(NASDAQ:APOG)
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Rating:72Outperform
Price Target:
$51.00
▲(45.42% Upside)
Action:Upgraded
Date:07/02/26
APOG scores in the low-70s primarily due to solid cash-flow strength and manageable leverage despite a sharp TTM revenue decline and margin compression. Technicals are supportive with strong price strength above key moving averages and positive momentum. Valuation is reasonable with a moderate P/E and a ~2.3% dividend yield, while the latest earnings call was constructive (reiterated guidance and strategic, accretive acquisition) but still flagged near-term end-market and segment weakness risks.
Positive Factors
Strong cash generation
Consistent operating and free cash flow conversion gives Apogee durable internal funding for capex, dividends, buybacks and M&A without relying on external financing. Strong cash conversion also cushions cyclical revenue swings and supports capital allocation flexibility over the medium term.
Negative Factors
Sharp revenue decline
A roughly 28% TTM revenue drop signals substantive end-market weakness and volume loss, which reduces operating leverage and weakens margin sustainability. Prolonged top-line contraction limits reinvestment capacity and increases dependence on cost cuts and M&A to restore growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent operating and free cash flow conversion gives Apogee durable internal funding for capex, dividends, buybacks and M&A without relying on external financing. Strong cash conversion also cushions cyclical revenue swings and supports capital allocation flexibility over the medium term.
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.
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The Fly
The FlyApogee (APOG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$846.63M
Dividend Yield2.77%
Average Volume (3M)214.46K
Price to Earnings (P/E)12.6
Beta (1Y)0.83
Revenue Growth1.79%
EPS Growth36.42%
CountryUS
Employees4,560
SectorIndustrials
Sector Strength72
IndustryConstruction Materials
Share Statistics
EPS (TTM)3.22
Shares Outstanding20,868,294
10 Day Avg. Volume277,736
30 Day Avg. Volume214,458
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 Cap1.30
Enterprise Value/Revenue0.78
Enterprise Value/Gross Profit3.36
Enterprise Value/Ebitda7.05
Forecast
1Y Price Target
$40.00Price Target Upside14.06% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.86
Revenue Forecast (FY)$1.42B
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 architectural glass and metal framing systems and by providing related services to deliver those systems into construction projects. Revenue is generated through (1) product sales—manufactured glass, coated ...
Apogee Earnings Call Summary
Earnings Call Date:Jun 26, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Sep 22, 2026
Earnings Call Sentiment Positive
The call balanced near-term headwinds from softer end markets, input-cost inflation, and segment-specific softness (notably Glass) against multiple constructive developments: an EPS beat, margin expansion in Metals, continued Services growth with a rising backlog, improved operating cash flow, disciplined cost and pricing actions, and a strategically accretive Kalwall acquisition expected to enhance portfolio durability and margins. Management reiterated full-year guidance and highlighted balance sheet strength and capital allocation flexibility.Positive Updates
Revenue and EPS Performance
Net sales of $343.0 million (down 1.1% year-over-year) with adjusted diluted EPS of $0.57, which beat internal expectations and was up year-over-year primarily due to lower interest expense.
Negative Updates
Overall Margin Pressure
Consolidated adjusted EBITDA margin decreased to 9.4% from 9.9% a year ago (down 0.5 percentage points), driven by higher material and freight costs and the impact of lower volume despite offsetting cost savings.
Read all updates
Q1-2027 Updates
Positive
Negative
Revenue and EPS Performance
Net sales of $343.0 million (down 1.1% year-over-year) with adjusted diluted EPS of $0.57, which beat internal expectations and was up year-over-year primarily due to lower interest expense.
Read all positive updates
Company Guidance
Apogee reiterated full‑year fiscal 2027 guidance of net sales $1.38B–$1.43B and adjusted EPS $2.70–$3.25 (guidance excludes Kalwall), with expected interest expense of roughly $10M, an adjusted effective tax rate of 26%–27%, and capital expenditures of $35M–$40M; incorporating the anticipated early‑July Kalwall close would raise the net sales range to $1.43B–$1.48B, keep EPS at $2.70–$3.25, and increase interest expense to about $14M. Management said results will be weighted to the second half, expects Q2 sales and adjusted EPS to be slightly lower year‑over‑year, and noted Kalwall is expected to add roughly $85M of revenue at ~15% adjusted EBITDA in its first 12 months (long‑term margin ~20%), be accretive in year one, and deliver about $4M of synergies by FY29.Apogee Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Feb 2026 | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.40B | 1.40B | 1.36B | 1.42B | 1.44B | 1.31B |
| Gross Profit | 326.98M | 319.47M | 364.08M | 372.63M | 335.27M | 302.36M |
| EBITDA | 155.74M | 141.43M | 184.93M | 187.82M | 168.19M | 152.01M |
| Net Income | 68.35M | 54.13M | 85.05M | 99.61M | 104.11M | 3.49M |
Balance Sheet | ||||||
| Total Assets | 1.10B | 1.12B | 1.18B | 884.06M | 915.37M | 887.86M |
| Cash, Cash Equivalents and Short-Term Investments | 26.43M | 39.52M | 46.25M | 40.01M | 19.92M | 37.58M |
| Total Debt | 287.93M | 286.38M | 351.92M | 106.19M | 214.72M | 215.34M |
| Total Liabilities | 589.44M | 610.55M | 687.37M | 413.04M | 518.96M | 501.66M |
| Stockholders Equity | 512.02M | 511.79M | 487.90M | 471.02M | 396.41M | 386.20M |
Cash Flow | ||||||
| Free Cash Flow | 123.25M | 95.16M | 89.57M | 160.97M | 57.52M | 78.63M |
| Operating Cash Flow | 149.68M | 122.47M | 125.16M | 204.15M | 102.70M | 100.47M |
| Investing Cash Flow | -33.31M | -30.53M | -265.89M | -43.67M | -27.71M | 9.28M |
| Financing Cash Flow | -124.97M | -96.18M | 146.05M | -144.61M | -91.02M | -120.57M |
Apogee Technical Analysis
Neutral
35.07
Price Trends
38.10
Positive
37.06
Positive
37.40
Positive
Market Momentum
1.83
Negative
49.52
Neutral
32.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APOG, the sentiment is Neutral. The current price of 35.07 is below the 20-day moving average (MA) of 41.09, below the 50-day MA of 38.10, and below the 200-day MA of 37.40, indicating a neutral trend. The MACD of 1.83 indicates Negative momentum. The RSI at 49.52 is Neutral, neither overbought nor oversold. The STOCH value of 32.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $846.63M | 12.60 | 10.79% | 2.77% | 1.79% | 36.42% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $729.70M | 17.12 | 7.72% | ― | -2.54% | -11.47% | |
47 Neutral | $442.35M | -111.45 | -0.65% | ― | 1.38% | -111.51% | |
46 Neutral | $1.30B | 141.68 | 0.94% | ― | -4.66% | -201.96% | |
45 Neutral | $784.45M | -3.09 | -35.45% | 2.12% | 14.25% | -1038.06% | |
43 Neutral | $124.06M | -0.24 | -291.24% | ― | -12.11% | -43.71% |
* Industrials Sector Average
APOG
Apogee
40.57
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-3.59%
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Apogee Corporate Events
Business Operations and StrategyM&A Transactions
Apogee completes strategic acquisition of Keller Companies
Positive
Jul 1, 2026
On July 1, 2026, Apogee Enterprises, Inc. completed its acquisition of Keller Companies, Inc. and its subsidiaries, including Kalwall Corporation and Structures Unlimited, Inc., for up to $115 million in cash. The deal included a $105 million base...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Apogee shareholders back directors, compensation and stock plan
Positive
Jun 29, 2026
At its annual meeting of shareholders held on June 24, 2026, Apogee shareholders re-elected Class I directors Donald A. Nolan and Patricia K. Wagner to new three-year terms expiring at the 2029 annual meeting. Investors also cast an advisory vote ...
Business Operations and StrategyM&A Transactions
Apogee Announces Acquisition of Kalwall Parent Keller Companies
Positive
May 28, 2026
On May 27, 2026, Apogee entered into a merger agreement to acquire Keller Companies, Inc., the controlling owner of Kalwall Corporation and Structures Unlimited Inc., for approximately $105 million in cash at closing, plus up to $10 million in ear...
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.