Apogee Enterprises, Inc.
APOG Industrials Building Products & Equipment
Apogee Enterprises, Inc.’s revenue for fiscal 2026 (year ended February 2026) was $1.4 billion, up 3.21% from fiscal 2025. In the quarter to August 2026, revenue grew 9.20%, EPS fell 1.82%, free cash flow fell 53.6% and total debt rose 24.3%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years.
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Apogee Enterprises, Inc. (APOG) Altman Z-score
Apogee Enterprises, Inc.'s Altman Z-score for fiscal 2026 is 2.99, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.99 | 0.00 |
| FY2025 | 2.99 | (1.63) |
| FY2024 | 4.61 | 0.82 |
| FY2023 | 3.79 | 0.35 |
| FY2022 | 3.45 | 0.39 |
| FY2021 | 3.06 | 0.20 |
| FY2020 | 2.86 | (0.34) |
| FY2019 | 3.21 | (0.57) |
| FY2018 | 3.77 | (2.09) |
| FY2017 | 5.86 | 0.21 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.15 | — | 0.18 | |
| Retained earnings / total assets | 0.34 | — | 0.47 | |
| EBIT / total assets | 0.08 | — | 0.25 | |
| Market value of equity / total liabilities | 1.39 | — | 0.83 | |
| Sales / total assets | 1.25 | — | 1.25 | |
| Altman Z-score | Grey zone | 2.99 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.49 | ||
Z and Z″ put Apogee Enterprises, Inc. in different zones: grey zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| NPKI NPK International Inc. compare | 7.4× |
| LMB Limbach Holdings, Inc. compare | 5.6× |
| ARLO Arlo Technologies, Inc. compare | 5.2× |
| ROCK Gibraltar Industries, Inc. compare | 4.2× |
| APOG Apogee Enterprises, Inc. | 3.0× |
| JBI Janus International Group, Inc. compare | 2.4× |
| SWIM Latham Group, Inc. compare | 1.9× |
| NX Quanex Building Products Corporation compare | 1.2× |
| ASPN Aspen Aerogels, Inc. compare | −4.7× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets