Latest Ratios: P/E Ratio 14.6x · EV/EBITDA 7.5x · ROE 10.8%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $768M | $854M | $1.0B | $1.3B | $1.0B | $1.2B | $984M | $807M | $1.0B | $1.2B | $1.7B |
| Enterprise Value | $1.0B | $1.1B | $1.4B | $1.3B | $1.2B | $1.3B | $1.2B | $1.1B | $1.2B | $1.4B | $1.7B |
| P/E Ratio → | 14.60 | 15.80 | 12.32 | 12.66 | 9.89 | 325.21 | 63.39 | 13.01 | 21.90 | 15.63 | 19.25 |
| P/S Ratio | 0.55 | 0.61 | 0.77 | 0.89 | 0.71 | 0.88 | 0.80 | 0.58 | 0.71 | 0.94 | 1.48 |
| P/B Ratio | 1.54 | 1.67 | 2.15 | 2.68 | 2.59 | 2.98 | 2.00 | 1.56 | 2.02 | 2.43 | 3.51 |
| P/FCF | 8.07 | 8.98 | 11.72 | 7.83 | 17.88 | 14.65 | 8.50 | 14.45 | 28.07 | 16.77 | 31.24 |
| P/OCF | 6.27 | 6.98 | 8.38 | 6.18 | 10.01 | 11.46 | 6.93 | 7.52 | 10.39 | 9.76 | 13.66 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.78 | 1.00 | 0.94 | 0.85 | 1.01 | 0.95 | 0.77 | 0.88 | 1.09 | 1.52 |
| EV / EBITDA | 7.54 | 8.19 | 8.36 | 7.58 | 7.27 | 18.45 | 15.11 | 7.90 | 10.51 | 8.51 | 10.76 |
| EV / EBIT | 12.01 | 12.04 | 9.69 | 9.10 | 9.72 | 13.03 | 13.19 | 14.61 | 17.48 | 12.59 | 13.89 |
| EV / FCF | — | 11.57 | 15.18 | 8.26 | 21.27 | 16.91 | 10.05 | 19.06 | 34.47 | 19.42 | 32.11 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.7% | 22.7% | 26.8% | 26.3% | 23.3% | 23.0% | 22.4% | 21.9% | 20.9% | 25.1% | 26.2% |
| Operating Margin | 6.0% | 6.0% | 8.7% | 9.4% | 8.7% | 1.7% | 2.1% | 6.3% | 4.8% | 8.6% | 11.0% |
| Net Profit Margin | 3.9% | 3.9% | 6.2% | 7.0% | 7.2% | 0.3% | 1.3% | 4.5% | 3.3% | 6.0% | 7.7% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.8% | 10.8% | 17.7% | 23.0% | 26.6% | 0.8% | 3.1% | 12.2% | 9.1% | 16.2% | 19.6% |
| ROA | 4.7% | 4.7% | 8.3% | 11.1% | 11.5% | 0.4% | 1.4% | 5.6% | 4.4% | 8.8% | 11.9% |
| ROIC | 8.1% | 8.1% | 13.2% | 17.7% | 16.3% | 2.7% | 2.6% | 8.8% | 7.0% | 14.0% | 20.8% |
| ROCE | 9.7% | 9.7% | 15.4% | 20.4% | 18.9% | 3.0% | 3.4% | 11.4% | 8.2% | 16.3% | 22.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.56 | 0.56 | 0.72 | 0.23 | 0.54 | 0.56 | 0.46 | 0.53 | 0.50 | 0.42 | 0.14 |
| Debt / EBITDA | 2.13 | 2.13 | 2.16 | 0.61 | 1.28 | 2.99 | 2.95 | 2.02 | 2.10 | 1.28 | 0.41 |
| Net Debt / Equity | — | 0.48 | 0.64 | 0.15 | 0.49 | 0.46 | 0.36 | 0.50 | 0.46 | 0.38 | 0.10 |
| Net Debt / EBITDA | 1.84 | 1.84 | 1.91 | 0.39 | 1.16 | 2.47 | 2.33 | 1.91 | 1.95 | 1.16 | 0.29 |
| Debt / FCF | — | 2.59 | 3.47 | 0.43 | 3.39 | 2.26 | 1.55 | 4.61 | 6.40 | 2.65 | 0.87 |
| Interest Coverage | 6.54 | 6.54 | 22.78 | 21.93 | 16.42 | 27.08 | 20.01 | 8.27 | 8.34 | 20.75 | 125.88 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.65 | 1.65 | 1.55 | 1.47 | 1.58 | 1.45 | 1.61 | 0.89 | 1.63 | 1.62 | 1.60 |
| Quick Ratio | 1.28 | 1.28 | 1.23 | 1.18 | 1.26 | 1.10 | 1.28 | 0.73 | 1.29 | 1.23 | 1.20 |
| Cash Ratio | 0.15 | 0.15 | 0.16 | 0.16 | 0.08 | 0.16 | 0.22 | 0.04 | 0.08 | 0.10 | 0.11 |
| Asset Turnover | — | 1.25 | 1.16 | 1.60 | 1.57 | 1.48 | 1.21 | 1.23 | 1.31 | 1.31 | 1.42 |
| Inventory Turnover | 11.07 | 11.07 | 10.80 | 15.08 | 14.09 | 12.57 | 13.12 | 15.24 | 14.16 | 12.27 | 11.20 |
| Days Sales Outstanding | — | 67.04 | 69.04 | 57.46 | 65.03 | 55.28 | 60.92 | 71.13 | 64.50 | 60.00 | 61.40 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.8% | 2.6% | 2.1% | 1.7% | 1.9% | 1.8% | 2.0% | 2.3% | 1.8% | 1.3% | 0.9% |
| Payout Ratio | 41.0% | 41.0% | 25.6% | 21.2% | 18.9% | 581.4% | 127.0% | 30.2% | 39.1% | 20.6% | 17.1% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.9% | 6.3% | 8.1% | 7.9% | 10.1% | 0.3% | 1.6% | 7.7% | 4.6% | 6.4% | 5.2% |
| FCF Yield | 12.4% | 11.1% | 8.5% | 12.8% | 5.6% | 6.8% | 11.8% | 6.9% | 3.6% | 6.0% | 3.2% |
| Buyback Yield | 2.0% | 1.8% | 4.3% | 0.9% | 7.2% | 8.7% | 3.3% | 3.1% | 4.3% | 2.7% | 0.7% |
| Total Shareholder Yield | 4.8% | 4.4% | 6.4% | 2.6% | 9.1% | 10.5% | 5.3% | 5.4% | 6.1% | 4.0% | 1.5% |
| Shares Outstanding | — | $21M | $22M | $22M | $22M | $25M | $26M | $27M | $28M | $29M | $29M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying APOG stock.
Apogee Enterprises, Inc.'s current P/E ratio is 14.6x. The historical average is 21.2x. This places it at the 42th percentile of its historical range.
Apogee Enterprises, Inc.'s current EV/EBITDA is 7.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.6x.
Apogee Enterprises, Inc.'s return on equity (ROE) is 10.8%. The historical average is 10.5%.
Based on historical data, Apogee Enterprises, Inc. is trading at a P/E of 14.6x. This is at the 42th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Apogee Enterprises, Inc.'s current dividend yield is 2.82% with a payout ratio of 41.0%.
Apogee Enterprises, Inc. has 22.7% gross margin and 6.0% operating margin.
Apogee Enterprises, Inc.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Cyclical non-residential demand
Metrics are mathematically derived from official filings.
Market Pricing Reflects Cyclical Uncertainty
According to recent market data, Apogee trades at a forward P/E of 14.23, which appears to discount the company's cyclical exposure relative to higher-multiple peers like AAON, suggesting investors remain cautious about the sustainability of earnings growth amidst a softening commercial construction environment and ongoing restructuring efforts.
The current valuation multiple suggests the market is pricing in a moderate growth trajectory, potentially underestimating the margin expansion potential of the LSO segment. Investors should monitor whether the forward P/E compression reflects a genuine de-rating of the business model or an attractive entry point for a company with a strong balance sheet.
Capital Efficiency Remains Under Pressure
Based on reported figures, ROIC has trended downward to 1.8% in 2027Q1 from a peak of 5.6% in 2025, indicating that the company is currently struggling to generate returns on invested capital that exceed its cost of capital, a trend that warrants further investigation by long-term shareholders.
The decay in ROIC appears driven by both margin compression and inefficient asset utilization during the transition period of Project Fortify. Unless management can demonstrate a sustained recovery in operating margins, the company may continue to struggle with value creation compared to historical performance levels.
Working Capital Volatility Hinders Efficiency
As reported in financial statements, the cash conversion cycle has fluctuated between 58 and 68 days over the last ten quarters, reflecting the inherent difficulty in managing working capital within a project-based business model that is highly sensitive to the timing of large-scale commercial construction milestones.
The variability in DSO and DIO suggests that the company's operational efficiency is frequently disrupted by project-specific delays or collection cycles. This inconsistency in working capital management complicates the predictability of cash flows and may necessitate a more conservative approach to liquidity planning.
Conservative Structure Provides Defensive Buffer
Based on the latest quarterly data, Apogee maintains a current ratio of 1.76, which, when combined with a modest debt-to-equity ratio of 0.56, suggests a healthy liquidity position that provides the firm with significant flexibility to navigate potential downturns in the non-residential construction sector.
This liquidity profile appears superior to more levered peers, offering a defensive cushion against cyclical volatility. Investors should monitor whether this balance sheet strength is utilized for strategic M&A or if it remains a passive buffer against ongoing operational headwinds.
Misapplication of P/E Multiples
The P/E ratio is frequently misapplied to Apogee because it fails to account for the significant non-cash charges and restructuring costs that periodically distort net income, thereby obscuring the underlying cash-generating capability of the firm's core architectural and optical segments during periods of strategic transition.
Analysts should prioritize EV/EBITDA or P/FCF to better capture the operational reality of the business, as these metrics are less sensitive to the accounting noise inherent in percentage-of-completion revenue recognition. Relying solely on P/E may lead to an inaccurate assessment of the company's true earnings power.