vs
Side-by-side financial comparison of Astera Labs, Inc. (ALAB) and APOGEE ENTERPRISES, INC. (APOG). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $270.6M, roughly 1.3× Astera Labs, Inc.). Astera Labs, Inc. runs the higher net margin — 16.6% vs 4.7%, a 11.9% gap on every dollar of revenue. On growth, Astera Labs, Inc. posted the faster year-over-year revenue change (91.8% vs 1.6%). Over the past eight quarters, Astera Labs, Inc.'s revenue compounded faster (103.6% CAGR vs 2.9%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
ALAB vs APOG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.6M | $351.4M |
| Net Profit | $45.0M | $16.6M |
| Gross Margin | 75.6% | 22.4% |
| Operating Margin | 24.7% | 7.3% |
| Net Margin | 16.6% | 4.7% |
| Revenue YoY | 91.8% | 1.6% |
| Net Profit YoY | 82.0% | 568.8% |
| EPS (diluted) | $0.25 | $0.78 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $351.4M | ||
| Q4 25 | $270.6M | $348.6M | ||
| Q3 25 | $230.6M | $358.2M | ||
| Q2 25 | $191.9M | $346.6M | ||
| Q1 25 | $159.4M | $345.7M | ||
| Q4 24 | $141.1M | $341.3M | ||
| Q3 24 | $113.1M | $342.4M | ||
| Q2 24 | $76.8M | $331.5M |
| Q1 26 | — | $16.6M | ||
| Q4 25 | $45.0M | $16.5M | ||
| Q3 25 | $91.1M | $23.6M | ||
| Q2 25 | $51.2M | $-2.7M | ||
| Q1 25 | $31.8M | $2.5M | ||
| Q4 24 | $24.7M | $21.0M | ||
| Q3 24 | $-7.6M | $30.6M | ||
| Q2 24 | $-7.5M | $31.0M |
| Q1 26 | — | 22.4% | ||
| Q4 25 | 75.6% | 23.8% | ||
| Q3 25 | 76.2% | 23.1% | ||
| Q2 25 | 75.8% | 21.7% | ||
| Q1 25 | 74.9% | 21.6% | ||
| Q4 24 | 74.0% | 26.1% | ||
| Q3 24 | 77.7% | 28.4% | ||
| Q2 24 | 77.9% | 29.8% |
| Q1 26 | — | 7.3% | ||
| Q4 25 | 24.7% | 7.1% | ||
| Q3 25 | 24.0% | 7.5% | ||
| Q2 25 | 20.7% | 2.0% | ||
| Q1 25 | 7.1% | 1.8% | ||
| Q4 24 | 0.1% | 8.4% | ||
| Q3 24 | -7.9% | 12.3% | ||
| Q2 24 | -31.7% | 12.5% |
| Q1 26 | — | 4.7% | ||
| Q4 25 | 16.6% | 4.7% | ||
| Q3 25 | 39.5% | 6.6% | ||
| Q2 25 | 26.7% | -0.8% | ||
| Q1 25 | 20.0% | 0.7% | ||
| Q4 24 | 17.5% | 6.1% | ||
| Q3 24 | -6.7% | 8.9% | ||
| Q2 24 | -9.8% | 9.4% |
| Q1 26 | — | $0.78 | ||
| Q4 25 | $0.25 | $0.77 | ||
| Q3 25 | $0.50 | $1.10 | ||
| Q2 25 | $0.29 | $-0.13 | ||
| Q1 25 | $0.18 | $0.12 | ||
| Q4 24 | $1.23 | $0.96 | ||
| Q3 24 | $-0.05 | $1.40 | ||
| Q2 24 | $-0.05 | $1.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $167.6M | $39.5M |
| Total DebtLower is stronger | — | $232.3M |
| Stockholders' EquityBook value | $1.4B | $511.8M |
| Total Assets | $1.5B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.5M | ||
| Q4 25 | $167.6M | $41.3M | ||
| Q3 25 | $140.4M | $39.5M | ||
| Q2 25 | $162.3M | $32.8M | ||
| Q1 25 | $86.4M | $41.4M | ||
| Q4 24 | $79.6M | $43.9M | ||
| Q3 24 | $126.1M | $51.0M | ||
| Q2 24 | $421.1M | $30.4M |
| Q1 26 | — | $232.3M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $285.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $511.8M | ||
| Q4 25 | $1.4B | $512.3M | ||
| Q3 25 | $1.3B | $500.2M | ||
| Q2 25 | $1.1B | $481.8M | ||
| Q1 25 | $1.0B | $487.9M | ||
| Q4 24 | $964.8M | $522.1M | ||
| Q3 24 | $889.6M | $506.4M | ||
| Q2 24 | $845.3M | $480.0M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.1B | $1.2B | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $983.1M | $917.1M | ||
| Q2 24 | $915.5M | $889.0M |
| Q1 26 | — | 0.45× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $95.3M | $122.5M |
| Free Cash FlowOCF − Capex | $76.6M | — |
| FCF MarginFCF / Revenue | 28.3% | — |
| Capex IntensityCapex / Revenue | 6.9% | 7.8% |
| Cash ConversionOCF / Net Profit | 2.12× | 7.37× |
| TTM Free Cash FlowTrailing 4 quarters | $281.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $122.5M | ||
| Q4 25 | $95.3M | $29.3M | ||
| Q3 25 | $78.2M | $57.1M | ||
| Q2 25 | $135.4M | $-19.8M | ||
| Q1 25 | $10.5M | $30.0M | ||
| Q4 24 | $39.7M | $31.0M | ||
| Q3 24 | $63.5M | $58.7M | ||
| Q2 24 | $29.8M | $5.5M |
| Q1 26 | — | — | ||
| Q4 25 | $76.6M | $22.9M | ||
| Q3 25 | $65.9M | $52.4M | ||
| Q2 25 | $133.3M | $-26.9M | ||
| Q1 25 | $6.0M | $19.1M | ||
| Q4 24 | $24.3M | $22.0M | ||
| Q3 24 | $46.8M | $50.2M | ||
| Q2 24 | $28.5M | $-1.8M |
| Q1 26 | — | — | ||
| Q4 25 | 28.3% | 6.6% | ||
| Q3 25 | 28.6% | 14.6% | ||
| Q2 25 | 69.5% | -7.8% | ||
| Q1 25 | 3.7% | 5.5% | ||
| Q4 24 | 17.2% | 6.4% | ||
| Q3 24 | 41.4% | 14.7% | ||
| Q2 24 | 37.1% | -0.5% |
| Q1 26 | — | 7.8% | ||
| Q4 25 | 6.9% | 1.9% | ||
| Q3 25 | 5.3% | 1.3% | ||
| Q2 25 | 1.1% | 2.1% | ||
| Q1 25 | 2.8% | 3.2% | ||
| Q4 24 | 10.9% | 2.6% | ||
| Q3 24 | 14.8% | 2.5% | ||
| Q2 24 | 1.7% | 2.2% |
| Q1 26 | — | 7.37× | ||
| Q4 25 | 2.12× | 1.77× | ||
| Q3 25 | 0.86× | 2.41× | ||
| Q2 25 | 2.64× | — | ||
| Q1 25 | 0.33× | 12.08× | ||
| Q4 24 | 1.61× | 1.48× | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | — | 0.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALAB
Segment breakdown not available.
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
