APOGApogee Enterprises, Inc.
Is the business good?
The checks split: earnings fully cash-backed (1.7×), but margins compressing.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
A balanced mix of margins, efficiency, and leverage. ROE 11% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is APOG?
Apogee Enterprises, Inc. earns 9.9% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 0.89 points above what the capital costs: growth creates value
- Operating margin
- 7.2%
Operating margin · Building Products & Equipment median 9.3% · 12 months to Q2 2027
- Cash conversion
- 1.74×
Cash conversion · 1.96× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −3.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2021 | 2.1% |
| FY2022 | 1.7% |
| FY2023 | 8.7% |
| FY2024 | 9.4% |
| FY2025 | 8.7% |
| FY2026 | 6.0% |
Details›
- Gross margin12 months to Q2 2027
- 23%
- Operating margin12 months to Q2 2027
- 7.2%
- Net margin12 months to Q2 2027
- 4.7%
- Free cash flow margin
- 6.6%
- Revenue, trailing twelve months
- $1.43B
- Free cash flow, trailing twelve months
- $95M
- Net income, trailing twelve months
- $67M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 9.9%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Building Products & Equipment
Ranks #1 of 19 by RyuScore