Apogee Enterprises, Inc.

Apogee Enterprises, Inc. (APOG) Market Cap

Apogee Enterprises, Inc. has a market capitalization of —.

No quote data available.

CEO: Donald A. Nolan

Sector: Basic Materials

Industry: Construction Materials

IPO Date: 1973-05-03

Website: https://www.apog.com

Apogee Enterprises, Inc. (APOG) - Company Information

Market Cap: -|Sector: Basic Materials

Company Profile

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 four segments: Architectural Metals, Architectural Glass, Architectural Services, and Performance Surfaces. The Architectural Metals segment designs, engineers, fabricates, and finishes aluminum window, curtainwall, storefront, and entrance systems for applications in non-residential construction under Tubelite, EFCO, Linetec, and Alumicor brands. The Architectural Glass segment cuts, treats, coats, and fabricates glass used in custom window and wall systems under the Viracon and GlassecViracon brand names. The Architectural Services segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install architectural curtainwall systems and other façade-related systems under the Harmon brand. The Performance Surfaces segment develops and manufactures coated materials for a variety of applications, including wall decor, museums, graphic design, digital displays, architectural interiors, and industrial flooring under Tru Vue, ResinDEK, RDC Coatings, ChromaLuxe, and Unisub brands. The company’s products and services are primarily used in commercial buildings, such as office buildings, hotels, and retail centers; institutional buildings comprising education facilities, health care facilities, and government buildings; transportation facilities, such as airports and transit terminals, as well as multi-family residential buildings. It markets its architectural products and services through direct sales force, independent sales representatives, and distributors, and glazing subcontractors and general contractors; and retail chains, as well as independent distribution network. The company was incorporated in 1949 and is based in Minneapolis, Minnesota.

Analyst Sentiment

83%
Strong Buy

From 1 Active Polls

1Y Forecast: $61.33

▲ +0.0% Potential Upside

Consensus Target Metrics

Low Bound

$43

Median

$46

High Bound

$95

Average

$61

Price & Moving Averages

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🎯 Wall Street Analyst Intelligence Report

1-Year structural target targets, chart projections, and sentiment maps.

Average 1Y Target
$61.33
▲ +54.87% Upside
Low Target
$43.00
9% Risk
Median Target
$46.00
16% Mid
High Target
$95.00
140% Max

Consensus Trend Projection

Trailing closures vs. 12-month metrics map.

Analyst Vote Distribution

Aggregate institutional coverage sentiment weights.

Sentiment volume allocation data unavailable.

valuation & financial ratiosdetailed financials

Historical valuation matrix unavailable.

📘 Full Research Report

ℹ️

AI-Generated Research: This report is for informational purposes only.

📘 APOGEE ENTERPRISES INC (APOG) — Investment Overview

🧩 Business Model Overview

Apogee Enterprises manufactures and supplies value-added architectural glass and glazing solutions used in commercial and residential construction. The value chain centers on converting commodity glass inputs into engineered, performance-based products—such as insulating glass units, specialty glazing systems, and related components—then selling through a mix of project-based relationships and established fabrication/distribution channels.

A key element of the model is specification and performance: architects, façade designers, and glazing contractors select systems based on thermal performance, optical quality, durability, and code compliance. Once a system is specified and qualified for a project, the supplier’s products become part of a broader multi-step procurement process (engineering/design support → fabrication → installation coordination).

💰 Revenue Streams & Monetisation Model

Revenue is primarily driven by project demand and system deliveries, including both transactional product sales and contract-linked supply arrangements. Monetisation typically comes from:

  • Value-added fabricated glass and glazing products: products with higher margin content versus unprocessed commodity glass, supported by coatings, processing, and system integration.
  • System-based orders tied to building envelopes: glazing solutions monetise through engineered performance and bill-of-material inclusion (glass + coatings + components + fabrication service elements).

Margin drivers are most sensitive to product mix (higher-performance configurations), plant utilization, input costs (energy and glass-related materials), and the ability to execute on labor and logistics at scale. Operating leverage exists because demand is cyclical, but the company’s value-added processing generally supports better durability of margins than pure commodity glass exposure.

🧠 Competitive Advantages & Market Positioning

Apogee’s moat is rooted in system-level switching costs and specification/qualification inertia. Architectural glazing is performance-driven and typically requires technical evaluation, design documentation, and procurement coordination. Moving to an alternative supplier can imply re-qualification, design changes, and schedule risk—raising the effective cost of switching for project teams once a system is selected.

Additionally, Apogee benefits from capability moats: engineered fabrication, coatings/processing, and ability to deliver performance attributes consistently. In architectural glass, reliability of delivery, tolerance to project variation, and quality control are often decisive procurement factors.

  • PPG Industries (broad coatings and engineered materials): competes across coatings and building-related product categories, but does not focus on architectural glazing system fabrication with the same end-to-end project delivery emphasis.
  • Saint-Gobain (insulating glass, architectural systems, and building materials): strong in building-envelope products, with global scale across multiple segments; competes directly on performance glazing solutions and system offerings.
  • Viracon (architectural glass fabrication): competes directly on architectural glass fabrication and performance products, often competing for the same design/spec qualification projects.

Compared with these rivals, Apogee’s positioning emphasizes supplying value-added architectural glazing with emphasis on qualification-ready performance, project execution, and customer stickiness created by specification and installation ecosystem requirements.

🚀 Multi-Year Growth Drivers

Over a 5–10 year horizon, growth is supported by structural, building-envelope-specific trends rather than purely unit growth in construction:

  • Energy-efficiency and performance standards: building codes and sustainability targets continue to favor insulating and high-performance glazing configurations, increasing the share of value-added glass in the envelope.
  • Commercial façade modernization: aging building stock drives retrofit cycles (energy upgrades, glass replacement, and façade improvements), supporting demand beyond new construction.
  • Urban densification and premium building design: dense markets sustain recurring project activity and higher performance expectations (thermal comfort, glare control, aesthetics), supporting higher-quality glazing specs.
  • Complexity of glazing requirements: larger spans, tighter tolerances, and higher system performance requirements increase reliance on qualified suppliers with proven fabrication and delivery execution.

⚠ Risk Factors to Monitor

  • Construction cyclicality: architectural glazing demand tracks commercial and residential building activity; utilization rates can compress margins when volumes soften.
  • Input cost volatility and energy exposure: glass-related inputs and energy costs can pressure spreads, particularly during periods of supply tightness.
  • Execution and project concentration risk: project-based selling can concentrate exposure to certain customers, regions, or delivery schedules.
  • Competitive price pressure: competitors with capacity or scale advantages can intensify pricing competition on qualifying bids.
  • Technology and material substitution: alternative façade materials or glazing technologies can affect spec mix over time, though performance and compliance requirements typically favor qualified systems rather than rapid displacement.

📊 Valuation & Market View

The market typically values architectural building products using EV/EBITDA-style multiples and cash-flow metrics that reflect cyclicality and operating leverage. The factors that move valuation more persistently than short-term earnings tend to be:

  • Margin durability: ability to maintain value-added pricing and efficient utilization.
  • End-market mix: balance between new builds and retrofit/repair activity, and between performance categories.
  • Capital intensity and returns: manufacturing capacity management and working-capital discipline tied to project timing.
  • Free cash flow conversion: management of receivables and inventory through construction cycles.

Because demand is cyclical, investors generally underwrite this business by focusing on normalized profitability and the sustainability of value-added margins through creditworthy project flow.

🔍 Investment Takeaway

Apogee is best understood as a value-added architectural glazing supplier with specification-driven customer stickiness and system-level switching costs. While construction end-demand remains cyclical, multi-year growth is supported by energy-efficiency requirements, façade modernization, and the increasing complexity of building-envelope performance. The long-term thesis depends on sustaining value-added margins, managing capacity and execution through downturns, and maintaining qualification credibility against major competitors such as PPG, Saint-Gobain, and Viracon.


⚠ AI-generated — informational only. Validate using filings before investing.

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📊 AI Financial Analysis

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Earnings Data: Q Ending 2026-05-30

"APOG reported Q1’27 revenue of $342.7M and net income of $11.5M (EPS $0.55). On a YoY basis, revenue was broadly flat vs $346.6M in Q1’26 (-1.1%), but net income improved meaningfully from a net loss of ($2.7)M to +$11.5M (turnaround of +$14.2M; N.I. ~NM YoY). QoQ, revenue declined to $342.7M from $351.4M in Q4’26 (-2.4%), and net income fell to $11.5M from $16.6M (-30.6%), indicating softer earnings in the latest quarter. Profitability weakened sequentially: gross margin slipped to 21.9% from 22.7% (QoQ) and net margin contracted to 3.4% from 4.7%. However, compared with the prior-year quarter, margins have normalized strongly from negative levels. Cash generation in Q1 was modest but positive: operating cash flow was $7.4M and free cash flow was $1.1M. The company continued shareholder distributions—dividends paid were $5.6M and buybacks were $9.7M—while cash fell by $13.1M to $26.4M. Balance sheet leverage remains elevated with total assets of $1.10B and net debt of $261.5M, though equity is stable around $512M. From a shareholder returns standpoint, the stock at $36.12 is down 20.98% over 1 year, implying total shareholder returns likely lagged during the period despite buybacks and dividends. Analyst consensus price target ($46) suggests upside vs current price."

Revenue Growth

Neutral

Revenue was essentially flat YoY (-1.1% vs Q1’26) and down QoQ (-2.4% vs Q4’26), showing mild deceleration rather than growth.

Profitability

Fair

Net income turned positive YoY (from -$2.7M to +$11.5M), but profitability weakened QoQ: net margin fell to 3.4% from 4.7% and gross margin to 21.9% from 22.7%.

Cash Flow Quality

Caution

Operating cash flow was positive ($7.4M) but free cash flow was thin ($1.1M). Continued dividends ($5.6M) and buybacks ($9.7M) reduced cash.

Leverage & Balance Sheet

Neutral

Balance sheet is sizable (assets ~$1.10B) with equity stable around $512M; leverage remains meaningful with net debt ~$261.5M, and cash fell QoQ.

Shareholder Returns

Caution

Shareholder payouts continued (dividends + buybacks), but the stock is down 20.98% over 1 year, so total return likely remains weak.

Analyst Sentiment & Valuation

Positive

Consensus price target is $46 vs current ~$36.12, implying potential upside; valuation metrics suggest earnings power is not yet fully reflected.

Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.

RevenueEarningsP/E RatioSharesDebtMargin %

Fundamentals Overview

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Apogee’s Q1 results show a mixed earnings profile: EPS ($0.57) beat internal expectations, but consolidated adjusted EBITDA margin fell to 9.4% (about -50 bps YoY) as higher aluminum, material, and freight costs outweighed lower volume impacts. Management leaned on Fortify Phase 2 savings and pricing/surcharge actions to protect profitability, particularly in Metals where EBITDA margin expanded to 11.2%. Services sustained growth (+8.2% net sales) and backlog increased to $735M (+6% sequentially), supporting stronger project flow. The key strategic lever is Kalwall: early-July close, ~$85M revenue in the first 12 months, ~15% EBITDA margin initially, and a target ~20% margin long-term with ~$4M operational synergies by FY2029. Glass remains the operational pressure point with softer new construction and premium demand; management responded with a defined productivity/cost/order-rate action plan and a new Glass segment president (Chris Eid) to lead execution and Kalwall integration. Full-year EPS guidance is maintained while net sales expand with Kalwall.

AI IconGrowth Catalysts

  • Fortify Phase 2 cost savings driving Metals margin expansion in Q1 and expected benefit through the remainder of fiscal 2027
  • Services delivering 9th consecutive quarter of net sales growth with backlog up 6% sequentially, supporting improved project flow
  • Improving Performance Surfaces execution via productivity and pricing discipline to offset higher aluminum and petrochemical-derived input costs

Business Development

  • Kalwall acquisition: expected close in early July (transaction anticipated accretive in first year); revenue target ~$85M and ~15% adjusted EBITDA margin over first 12 months; long-term margin rate ~20%
  • Kalwall synergy opportunities: cross-selling across Apogee architectural portfolio including complementary products to Viracon; operational synergy about $4M by fiscal 2029

AI IconFinancial Highlights

  • Revenue $343M (-1.1% YoY), primarily lower volume in Metals and Glass; offset by favorable pricing/mix to recover higher material and freight
  • Adjusted EBITDA margin 9.4% vs 9.9% prior year (down ~50 bps), driven by higher material/freight costs and lower volume; partial offsets from Fortify Phase 2 cost savings and pricing/productivity
  • Adjusted diluted EPS $0.57, ahead of internal expectations and up YoY, primarily driven by lower interest expense
  • Metals: net sales $122M (-4.8%); EBITDA margin expanded to 11.2% vs prior year impacted by higher aluminum costs; benefit cited from Fortify Phase 2 and productivity
  • Services: net sales +8.2% YoY; EBITDA margin slightly down to 5.3% due to project mix, partially offset by Fortify Phase 2 tariff reduction and volume
  • Backlog $735M, +8% YoY and +6% sequentially
  • Glass: net sales $67.7M (-7.6%); EBITDA margin declined to 8.7% due to lower price/volume and inflation on material costs
  • Capital allocation in quarter: repurchased $9.7M of stock; paid $5.6M in dividends

AI IconCapital Funding

  • Operating cash flow: $7.4M net provided vs $19.8M net use of cash a year ago
  • Consolidated leverage ratio: 1.3x; no near-term debt maturities cited
  • FY2027 capital expenditures: $35M to $40M
  • Management indicated evaluating share repurchases as part of broader capital allocation strategy

AI IconStrategy & Ops

  • Enhanced 3-pillar framework progress; Kalwall positioned as step toward a more differentiated, higher-margin specification-driven portfolio
  • Operational performance improvements: cited improving quality and on-time delivery and stronger customer relationships
  • Glass action plan: drive order rates, enhance operational productivity, and strengthen cost management; new Glass segment president announced (Chris Eid)
  • Pricing discipline: implemented pricing and surcharges in Metals and other segments to offset volatile aluminum and other input cost changes

AI IconMarket Outlook

  • Full-year FY2027 guidance (excluding Kalwall): net sales $1.38B to $1.43B; adjusted EPS $2.70 to $3.25; improvement expected heavier in 2H
  • Kalwall-inclusive guidance (assuming early July close): net sales $1.43B to $1.48B; adjusted EPS range maintained at $2.70 to $3.25
  • Interest expense guidance: ~$10M (base case without Kalwall) increasing to ~$14M (with Kalwall)
  • Adjusted effective tax rate: 26% to 27%
  • Q2 outlook: net sales slightly lower and adjusted EPS lower YoY; minimally impacted by anticipated early July Kalwall close due to more meaningful contribution in 2H

AI IconRisks & Headwinds

  • Input cost volatility (notably aluminum) required continued pricing/surcharge actions; management expects ongoing pass-through needs as costs change
  • Glass remains pressured by softer new construction and lower demand for premium products; fewer jobs and lower volume cited
  • End-market variability and macro conditions with elevated interest rates impacting demand
  • Project mix headwind in Services limiting EBITDA margin despite growth

Q&A: Analyst Interest

  • Topic: Pricing realization and cost pass-through confidence (Metals/aluminum and broader portfolio). Management stated pricing and surcharges were implemented in Q1 in Metals and adjusted across other segments to track volatile aluminum and material/freight changes; they expect ongoing pricing discipline as input costs fluctuate throughout the year.
  • Topic: Kalwall synergy math, margin path, and scope (15% to 20% EBITDA). Management described Kalwall at close to a 15% EBITDA margin, with ~$4M operational/input-cost-related synergies targeted by fiscal 2029; they expect execution of additional cost input reductions to expand margins toward ~20% over ~2.5 years, with revenue synergy via portfolio cross-selling.
  • Topic: Glass softness drivers and competitive signals; performance actions and leadership change. Management said glass declines reflect macro-driven softer conditions and fewer/lower-volume jobs, while emphasizing improving hit rate on pursued work. They outlined a performance improvement challenge (order rates, productivity, cost management) and noted new Glass president Chris Eid to lead strategy and integration with Kalwall.

Sentiment: MIXED

Note: This summary was synthesized by AI from the APOG Q1 2027 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.

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© 2026 Stock Market Info — Apogee Enterprises, Inc. (APOG) Financial Profile