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Apogee Enterprises, Inc. key statistics and ratios

In fiscal 2026, Apogee Enterprises, Inc. had return on equity of 10.8%, an operating margin of 6.0%, debt equal to 45.4% of equity and a current ratio of 1.65. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Feb 20102011Feb 20112012Mar 20122013Mar 20132014Mar 20142015Feb 20152016Feb 20162017Mar 20172018Mar 20182019Mar 20192020Feb 20202021Feb 20212022Feb 20222023Feb 20232024Mar 20242025Mar 20252026Feb 2026LTMAug 2026
Gross margin23.3%14.3%17.7%20.8%21.4%22.3%24.8%26.2%25.1%20.9%23.0%22.4%20.9%23.3%25.9%26.4%22.7%23.2%
Operating margin6.5%−3.6%0.6%3.9%5.2%6.8%9.9%11.0%8.6%4.8%6.3%2.1%1.7%8.7%9.4%8.7%6.0%7.2%
Net margin4.6%−1.8%0.7%2.7%3.6%5.4%6.7%7.7%6.0%3.3%4.5%1.3%0.3%7.2%7.0%6.2%3.9%4.7%
Free-cash-flow margin12.6%−2.9%2.2%0.8%1.4%4.8%8.9%5.0%5.6%2.5%4.0%9.4%6.0%4.0%11.4%6.6%6.8%6.6%
Return on equity—−3.2%1.4%5.8%8.1%13.7%16.6%19.6%16.2%9.1%12.2%3.1%0.8%26.6%23.0%17.7%10.8%13.0%
Return on assets—−2.0%0.9%3.8%5.1%8.5%10.3%11.9%8.8%4.4%5.6%1.4%0.4%11.5%11.1%8.3%4.7%5.7%
Asset turnover—1.141.321.381.411.581.551.551.471.341.261.151.381.601.571.321.221.21
Current ratio—1.882.172.061.812.011.901.601.621.631.381.611.451.581.471.551.651.78
Debt to equity—6.8%6.5%9.2%5.8%5.4%5.0%13.9%42.2%49.5%42.2%63.9%42.2%42.8%13.2%58.4%45.4%64.1%
Interest cover (operating income ÷ interest)75.0xn/m2.7x18.4x32.0x68.8x164.2x125.9x20.7x8.0x9.5x4.6x4.8x16.4x20.1x19.2x6.0x8.3x
Effective tax rate32.1%—−29.2%29.0%29.6%22.3%32.9%30.1%27.7%22.1%22.4%31.7%74.9%10.7%22.9%24.4%30.1%28.2%
R&D as % of revenue—1.1%1.1%1.0%1.0%0.7%0.8%0.8%1.1%1.4%1.2%1.2%1.3%1.8%2.1%2.1%0.8%—
SG&A as % of revenue16.7%17.9%17.1%16.9%16.2%15.5%14.9%15.2%16.5%15.9%16.7%14.6%15.4%14.5%16.5%17.8%16.7%16.0%
Capital spending as % of revenue1.4%1.6%1.5%5.0%5.4%2.9%4.3%6.1%4.0%4.3%3.7%2.1%1.7%3.1%3.0%2.6%1.9%2.3%
Free cash flow ÷ net income275.6%—320.9%30.7%39.6%88.2%133.0%65.2%93.4%78.1%90.2%749.5%>999%55.2%161.6%105.3%175.8%141.9%
Dividends ÷ net income28.7%—197.1%54.0%38.5%23.9%20.2%17.1%20.6%39.1%30.2%127.0%581.4%18.9%21.2%25.6%41.0%33.3%
Dividends and buybacks ÷ free cash flow10.4%—77.5%176.1%97.2%42.5%43.8%45.6%67.4%171.4%78.5%45.4%153.5%163.4%20.5%74.9%39.1%56.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · August 29, 2026
What it owns · $1.2bn
Short-term assets $472mLonger-term assets $772m
What it owes, and who funded it · $788m
Short-term liabilities $265mShareholders' equity $523m
  • Short-term assets cover short-term liabilities $472m of assets due within a year against $265m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $37m of cash against $336m of debt.
  • Debt below 40% of shareholders' equity Debt is 64% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 42% to 64% over five years.
  • A year's operating cash flow covers at least 20% of debt $128m of operating cash flow against $336m of debt.
  • Operating profit covers interest at least five times over Operating income of $103m against $12m of interest.

From Apogee Enterprises, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

51 /100

Moderate moat

How hard Apogee Enterprises's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Cash operating profit has been a median 9.6% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 23.4%, moving by 2.1 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 6.3%; its worst year was 0.7%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 10 of 10 years, at a median 6.3% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 17.3% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (56 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Apogee Enterprises, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Apogee Enterprises, Inc.