Apogee Enterprises, Inc. (APOG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+28.6%

$60.38

vs $46.95 price

Levered DCF

$91.11

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.89

Grey zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	15.68×	12.26×	12.55×	9.89×	325.21×	63.39×	12.9×	21.97×
P/B	1.64×	2.15×	2.68×	2.59×	2.94×	1.99×	1.56×	2.04×
P/S	0.6×	0.77×	0.89×	0.71×	0.86×	0.8×	0.58×	0.72×
EV / EBITDA	7.69×	7.35×	7.08×	7.27×	8.63×	8.29×	8.89×	10.3×
Gross margin	22.7%	26.8%	26.3%	23.3%	23.0%	22.4%	21.9%	20.9%
Operating margin	6.0%	8.7%	9.4%	8.7%	1.7%	2.1%	6.3%	4.8%
Net margin	3.9%	6.2%	7.0%	7.2%	0.3%	1.3%	4.5%	3.3%
Current ratio	1.65×	1.55×	1.47×	1.58×	1.45×	1.61×	0.89×	1.63×
Debt / equity	0.56×	0.72×	0.23×	0.54×	0.56×	0.46×	0.53×	0.5×
Interest coverage	6.04×	19.18×	20.07×	16.42×	5.85×	5.79×	9.97×	7.96×
Dividend yield	2.6%	2.1%	1.7%	1.9%	1.8%	2.0%	2.3%	1.8%
Payout ratio	41.0%	25.6%	21.2%	18.9%	581.4%	127.0%	30.2%	39.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.6%	17.4%	21.1%	26.3%	0.9%	3.1%	12.0%	9.2%
Return on invested capital	6.8%	9.9%	15.8%	16.4%	0.8%	2.1%	9.5%	6.2%
Return on assets	4.8%	7.2%	11.3%	11.4%	0.4%	1.5%	5.5%	4.3%
Free cash flow yield	11.3%	8.5%	12.8%	5.6%	6.9%	11.8%	6.9%	3.5%
Earnings yield	6.4%	8.1%	7.9%	10.1%	0.3%	1.6%	7.7%	4.5%
Enterprise value	$1.1B	$1.4B	$1.3B	$1.2B	$1.3B	$1.2B	$1.1B	$1.2B
Net debt / EBITDA	1.75×	1.68×	0.37×	1.16×	1.17×	1.28×	2.15×	1.9×
Cash conversion cycle (days)	65	67	52	62	51	60	72	67