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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and CORVEL CORP (CRVL). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $235.6M, roughly 1.5× CORVEL CORP). CORVEL CORP runs the higher net margin — 10.3% vs 4.7%, a 5.5% gap on every dollar of revenue. On growth, CORVEL CORP posted the faster year-over-year revenue change (3.4% vs 1.6%). Over the past eight quarters, CORVEL CORP's revenue compounded faster (6.6% CAGR vs 2.9%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
Corvel Corp is a U.S.-headquartered provider of integrated workers’ compensation, healthcare management, and risk mitigation solutions. It serves insurance carriers, self-insured employers, and public sector clients, delivering services to control healthcare costs, improve care outcomes, and optimize administrative operations.
APOG vs CRVL — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $235.6M |
| Net Profit | $16.6M | $24.2M |
| Gross Margin | 22.4% | 23.3% |
| Operating Margin | 7.3% | 13.7% |
| Net Margin | 4.7% | 10.3% |
| Revenue YoY | 1.6% | 3.4% |
| Net Profit YoY | 568.8% | 1.7% |
| EPS (diluted) | $0.78 | $0.47 |
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 | $348.6M | $235.6M | ||
| Q3 25 | $358.2M | $239.6M | ||
| Q2 25 | $346.6M | $234.7M | ||
| Q1 25 | $345.7M | $231.5M | ||
| Q4 24 | $341.3M | $228.0M | ||
| Q3 24 | $342.4M | $224.4M | ||
| Q2 24 | $331.5M | $211.7M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $24.2M | ||
| Q3 25 | $23.6M | $27.9M | ||
| Q2 25 | $-2.7M | $27.2M | ||
| Q1 25 | $2.5M | $26.4M | ||
| Q4 24 | $21.0M | $23.8M | ||
| Q3 24 | $30.6M | $23.4M | ||
| Q2 24 | $31.0M | $21.6M |
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | 23.3% | ||
| Q3 25 | 23.1% | 24.3% | ||
| Q2 25 | 21.7% | 24.2% | ||
| Q1 25 | 21.6% | 25.0% | ||
| Q4 24 | 26.1% | 23.2% | ||
| Q3 24 | 28.4% | 22.6% | ||
| Q2 24 | 29.8% | 22.7% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | 13.7% | ||
| Q3 25 | 7.5% | 15.0% | ||
| Q2 25 | 2.0% | 15.0% | ||
| Q1 25 | 1.8% | 14.4% | ||
| Q4 24 | 8.4% | 13.5% | ||
| Q3 24 | 12.3% | 12.8% | ||
| Q2 24 | 12.5% | 13.2% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 10.3% | ||
| Q3 25 | 6.6% | 11.6% | ||
| Q2 25 | -0.8% | 11.6% | ||
| Q1 25 | 0.7% | 11.4% | ||
| Q4 24 | 6.1% | 10.4% | ||
| Q3 24 | 8.9% | 10.4% | ||
| Q2 24 | 9.4% | 10.2% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $0.47 | ||
| Q3 25 | $1.10 | $0.54 | ||
| Q2 25 | $-0.13 | $0.52 | ||
| Q1 25 | $0.12 | $-1.23 | ||
| Q4 24 | $0.96 | $0.46 | ||
| Q3 24 | $1.40 | $1.35 | ||
| Q2 24 | $1.41 | $1.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $39.5M | $230.0M |
| Total DebtLower is stronger | $232.3M | — |
| Stockholders' EquityBook value | $511.8M | $375.7M |
| Total Assets | $1.1B | $644.8M |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $230.0M | ||
| Q3 25 | $39.5M | $207.5M | ||
| Q2 25 | $32.8M | $202.0M | ||
| Q1 25 | $41.4M | $170.6M | ||
| Q4 24 | $43.9M | $162.9M | ||
| Q3 24 | $51.0M | $138.3M | ||
| Q2 24 | $30.4M | $131.9M |
| 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 | $512.3M | $375.7M | ||
| Q3 25 | $500.2M | $362.8M | ||
| Q2 25 | $481.8M | $342.5M | ||
| Q1 25 | $487.9M | $322.0M | ||
| Q4 24 | $522.1M | $300.9M | ||
| Q3 24 | $506.4M | $282.8M | ||
| Q2 24 | $480.0M | $263.9M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $644.8M | ||
| Q3 25 | $1.2B | $611.7M | ||
| Q2 25 | $1.2B | $597.4M | ||
| Q1 25 | $1.2B | $546.0M | ||
| Q4 24 | $1.2B | $538.8M | ||
| Q3 24 | $917.1M | $518.6M | ||
| Q2 24 | $889.0M | $486.2M |
| 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 | $122.5M | $46.1M |
| Free Cash FlowOCF − Capex | — | $35.2M |
| FCF MarginFCF / Revenue | — | 14.9% |
| Capex IntensityCapex / Revenue | 7.8% | 4.7% |
| Cash ConversionOCF / Net Profit | 7.37× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $104.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $46.1M | ||
| Q3 25 | $57.1M | $25.0M | ||
| Q2 25 | $-19.8M | $55.0M | ||
| Q1 25 | $30.0M | $22.9M | ||
| Q4 24 | $31.0M | $41.6M | ||
| Q3 24 | $58.7M | $22.3M | ||
| Q2 24 | $5.5M | $40.4M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $35.2M | ||
| Q3 25 | $52.4M | $15.3M | ||
| Q2 25 | $-26.9M | $39.5M | ||
| Q1 25 | $19.1M | $14.3M | ||
| Q4 24 | $22.0M | $32.1M | ||
| Q3 24 | $50.2M | $12.4M | ||
| Q2 24 | $-1.8M | $32.8M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 14.9% | ||
| Q3 25 | 14.6% | 6.4% | ||
| Q2 25 | -7.8% | 16.8% | ||
| Q1 25 | 5.5% | 6.2% | ||
| Q4 24 | 6.4% | 14.1% | ||
| Q3 24 | 14.7% | 5.5% | ||
| Q2 24 | -0.5% | 15.5% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 4.7% | ||
| Q3 25 | 1.3% | 4.1% | ||
| Q2 25 | 2.1% | 6.6% | ||
| Q1 25 | 3.2% | 3.7% | ||
| Q4 24 | 2.6% | 4.2% | ||
| Q3 24 | 2.5% | 4.4% | ||
| Q2 24 | 2.2% | 3.6% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 1.91× | ||
| Q3 25 | 2.41× | 0.90× | ||
| Q2 25 | — | 2.02× | ||
| Q1 25 | 12.08× | 0.87× | ||
| Q4 24 | 1.48× | 1.75× | ||
| Q3 24 | 1.92× | 0.95× | ||
| Q2 24 | 0.18× | 1.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
CRVL
| Patient Management Services | $146.1M | 62% |
| Network Solutions Services | $89.6M | 38% |
