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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and FEDERATED HERMES, INC. (FHI). Click either name above to swap in a different company.
FEDERATED HERMES, INC. is the larger business by last-quarter revenue ($482.8M vs $348.6M, roughly 1.4× APOGEE ENTERPRISES, INC.). FEDERATED HERMES, INC. runs the higher net margin — 22.2% vs 4.7%, a 17.4% gap on every dollar of revenue. On growth, FEDERATED HERMES, INC. posted the faster year-over-year revenue change (13.7% vs 2.1%). FEDERATED HERMES, INC. produced more free cash flow last quarter ($294.6M vs $22.9M). Over the past eight quarters, FEDERATED HERMES, INC.'s revenue compounded faster (10.4% CAGR vs -1.9%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
Federated Hermes is an investment manager headquartered in Pittsburgh, Pennsylvania, United States. Founded in 1955 and incorporated on October 18, 1957, the company manages $902.6 billion of customer assets, as of December 2025. The company offers investments spanning equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies, including mutual funds, exchange-traded funds (ETFs), separate accounts, closed-end funds and collective investment funds. Clie...
APOG vs FHI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $348.6M | $482.8M |
| Net Profit | $16.5M | $107.0M |
| Gross Margin | 23.8% | — |
| Operating Margin | 7.1% | 28.1% |
| Net Margin | 4.7% | 22.2% |
| Revenue YoY | 2.1% | 13.7% |
| Net Profit YoY | -21.2% | 26.4% |
| EPS (diluted) | $0.77 | $1.38 |
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.
| Q4 25 | $348.6M | $482.8M | ||
| Q3 25 | $358.2M | $469.4M | ||
| Q2 25 | $346.6M | $424.8M | ||
| Q1 25 | $345.7M | $423.5M | ||
| Q4 24 | $341.3M | $424.7M | ||
| Q3 24 | $342.4M | $408.5M | ||
| Q2 24 | $331.5M | $402.6M | ||
| Q1 24 | $361.8M | $396.4M |
| Q4 25 | $16.5M | $107.0M | ||
| Q3 25 | $23.6M | $104.1M | ||
| Q2 25 | $-2.7M | $91.0M | ||
| Q1 25 | $2.5M | $101.1M | ||
| Q4 24 | $21.0M | $84.7M | ||
| Q3 24 | $30.6M | $87.5M | ||
| Q2 24 | $31.0M | $21.0M | ||
| Q1 24 | $15.7M | $75.0M |
| Q4 25 | 23.8% | — | ||
| Q3 25 | 23.1% | — | ||
| Q2 25 | 21.7% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | 26.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 29.8% | — | ||
| Q1 24 | 24.4% | — |
| Q4 25 | 7.1% | 28.1% | ||
| Q3 25 | 7.5% | 27.6% | ||
| Q2 25 | 2.0% | 27.6% | ||
| Q1 25 | 1.8% | 31.1% | ||
| Q4 24 | 8.4% | 26.0% | ||
| Q3 24 | 12.3% | 27.4% | ||
| Q2 24 | 12.5% | 10.1% | ||
| Q1 24 | 6.0% | 24.9% |
| Q4 25 | 4.7% | 22.2% | ||
| Q3 25 | 6.6% | 22.2% | ||
| Q2 25 | -0.8% | 21.4% | ||
| Q1 25 | 0.7% | 23.9% | ||
| Q4 24 | 6.1% | 19.9% | ||
| Q3 24 | 8.9% | 21.4% | ||
| Q2 24 | 9.4% | 5.2% | ||
| Q1 24 | 4.3% | 18.9% |
| Q4 25 | $0.77 | $1.38 | ||
| Q3 25 | $1.10 | $1.34 | ||
| Q2 25 | $-0.13 | $1.16 | ||
| Q1 25 | $0.12 | $1.25 | ||
| Q4 24 | $0.96 | $1.08 | ||
| Q3 24 | $1.40 | $1.06 | ||
| Q2 24 | $1.41 | $0.20 | ||
| Q1 24 | $0.71 | $0.89 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $41.3M | $582.5M |
| Total DebtLower is stronger | — | $348.4M |
| Stockholders' EquityBook value | $512.3M | $1.2B |
| Total Assets | $1.1B | $2.2B |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.3M | $582.5M | ||
| Q3 25 | $39.5M | $506.3M | ||
| Q2 25 | $32.8M | $371.0M | ||
| Q1 25 | $41.4M | $387.6M | ||
| Q4 24 | $43.9M | $504.4M | ||
| Q3 24 | $51.0M | $375.0M | ||
| Q2 24 | $30.4M | $307.4M | ||
| Q1 24 | $37.2M | $359.8M |
| Q4 25 | — | $348.4M | ||
| Q3 25 | — | $348.3M | ||
| Q2 25 | — | $348.2M | ||
| Q1 25 | $285.0M | $348.2M | ||
| Q4 24 | — | $348.1M | ||
| Q3 24 | — | $348.0M | ||
| Q2 24 | — | $348.0M | ||
| Q1 24 | $62.0M | $347.9M |
| Q4 25 | $512.3M | $1.2B | ||
| Q3 25 | $500.2M | $1.2B | ||
| Q2 25 | $481.8M | $1.1B | ||
| Q1 25 | $487.9M | $1.1B | ||
| Q4 24 | $522.1M | $1.1B | ||
| Q3 24 | $506.4M | $1.1B | ||
| Q2 24 | $480.0M | $1.0B | ||
| Q1 24 | $471.0M | $1.1B |
| Q4 25 | $1.1B | $2.2B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $2.2B | ||
| Q1 25 | $1.2B | $2.0B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | $917.1M | $2.0B | ||
| Q2 24 | $889.0M | $1.9B | ||
| Q1 24 | $884.1M | $2.1B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.29× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | 0.58× | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | 0.13× | 0.30× |
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 | $29.3M | $297.3M |
| Free Cash FlowOCF − Capex | $22.9M | $294.6M |
| FCF MarginFCF / Revenue | 6.6% | 61.0% |
| Capex IntensityCapex / Revenue | 1.9% | 0.6% |
| Cash ConversionOCF / Net Profit | 1.77× | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | $67.4M | $427.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $297.3M | ||
| Q3 25 | $57.1M | $103.1M | ||
| Q2 25 | $-19.8M | $18.8M | ||
| Q1 25 | $30.0M | $14.3M | ||
| Q4 24 | $31.0M | $346.6M | ||
| Q3 24 | $58.7M | $117.1M | ||
| Q2 24 | $5.5M | $88.7M | ||
| Q1 24 | $74.9M | $14.0M |
| Q4 25 | $22.9M | $294.6M | ||
| Q3 25 | $52.4M | $101.6M | ||
| Q2 25 | $-26.9M | $18.0M | ||
| Q1 25 | $19.1M | $13.3M | ||
| Q4 24 | $22.0M | $342.5M | ||
| Q3 24 | $50.2M | $114.1M | ||
| Q2 24 | $-1.8M | $82.7M | ||
| Q1 24 | $58.7M | $13.5M |
| Q4 25 | 6.6% | 61.0% | ||
| Q3 25 | 14.6% | 21.6% | ||
| Q2 25 | -7.8% | 4.2% | ||
| Q1 25 | 5.5% | 3.1% | ||
| Q4 24 | 6.4% | 80.7% | ||
| Q3 24 | 14.7% | 27.9% | ||
| Q2 24 | -0.5% | 20.5% | ||
| Q1 24 | 16.2% | 3.4% |
| Q4 25 | 1.9% | 0.6% | ||
| Q3 25 | 1.3% | 0.3% | ||
| Q2 25 | 2.1% | 0.2% | ||
| Q1 25 | 3.2% | 0.2% | ||
| Q4 24 | 2.6% | 0.9% | ||
| Q3 24 | 2.5% | 0.7% | ||
| Q2 24 | 2.2% | 1.5% | ||
| Q1 24 | 4.5% | 0.1% |
| Q4 25 | 1.77× | 2.78× | ||
| Q3 25 | 2.41× | 0.99× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | 12.08× | 0.14× | ||
| Q4 24 | 1.48× | 4.09× | ||
| Q3 24 | 1.92× | 1.34× | ||
| Q2 24 | 0.18× | 4.22× | ||
| Q1 24 | 4.76× | 0.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APOG
| Transferred At Point In Time | $163.0M | 47% |
| Architectural Services Segment | $105.2M | 30% |
| Performance Surfaces | $53.0M | 15% |
| UW Interco LLC | $27.9M | 8% |
FHI
| Investment Advisory Management And Administrative Service | $314.0M | 65% |
| Separateaccounts | $63.9M | 13% |
| Other | $61.2M | 13% |
| Distribution Service | $43.7M | 9% |
