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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $188.4M, roughly 1.9× FTAI Infrastructure Inc.). APOGEE ENTERPRISES, INC. runs the higher net margin — 4.7% vs -79.7%, a 84.5% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (95.9% vs 1.6%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (49.0% 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.
FTAI Infrastructure Inc. owns, operates and invests in high-quality critical infrastructure assets across core sectors including transportation logistics, midstream energy, and power generation. It primarily serves North American markets, focusing on assets with stable long-term cash flows, contracted revenue streams, and strong market positions to deliver sustainable returns for stakeholders.
APOG vs FIP — Head-to-Head
Income Statement — Q4 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $188.4M |
| Net Profit | $16.6M | $-150.2M |
| Gross Margin | 22.4% | — |
| Operating Margin | 7.3% | — |
| Net Margin | 4.7% | -79.7% |
| Revenue YoY | 1.6% | 95.9% |
| Net Profit YoY | 568.8% | -387.6% |
| EPS (diluted) | $0.78 | $-1.32 |
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 | $188.4M | ||
| Q4 25 | $348.6M | $143.5M | ||
| Q3 25 | $358.2M | $140.6M | ||
| Q2 25 | $346.6M | $122.3M | ||
| Q1 25 | $345.7M | $96.2M | ||
| Q4 24 | $341.3M | $80.8M | ||
| Q3 24 | $342.4M | $83.3M | ||
| Q2 24 | $331.5M | $84.9M |
| Q1 26 | $16.6M | $-150.2M | ||
| Q4 25 | $16.5M | $-97.7M | ||
| Q3 25 | $23.6M | $-104.5M | ||
| Q2 25 | $-2.7M | $-70.0M | ||
| Q1 25 | $2.5M | $120.2M | ||
| Q4 24 | $21.0M | $-124.7M | ||
| Q3 24 | $30.6M | $-43.0M | ||
| Q2 24 | $31.0M | $-48.1M |
| Q1 26 | 22.4% | — | ||
| 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 26 | 7.3% | — | ||
| Q4 25 | 7.1% | -45.7% | ||
| Q3 25 | 7.5% | -70.8% | ||
| Q2 25 | 2.0% | -56.4% | ||
| Q1 25 | 1.8% | 81.8% | ||
| Q4 24 | 8.4% | -152.7% | ||
| Q3 24 | 12.3% | -51.7% | ||
| Q2 24 | 12.5% | -56.4% |
| Q1 26 | 4.7% | -79.7% | ||
| Q4 25 | 4.7% | -68.1% | ||
| Q3 25 | 6.6% | -74.4% | ||
| Q2 25 | -0.8% | -57.2% | ||
| Q1 25 | 0.7% | 125.0% | ||
| Q4 24 | 6.1% | -154.4% | ||
| Q3 24 | 8.9% | -51.6% | ||
| Q2 24 | 9.4% | -56.7% |
| Q1 26 | $0.78 | $-1.32 | ||
| Q4 25 | $0.77 | $-1.04 | ||
| Q3 25 | $1.10 | $-1.38 | ||
| Q2 25 | $-0.13 | $-0.73 | ||
| Q1 25 | $0.12 | $0.89 | ||
| Q4 24 | $0.96 | $-1.21 | ||
| Q3 24 | $1.40 | $-0.45 | ||
| Q2 24 | $1.41 | $-0.52 |
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 | $37.9M |
| Total DebtLower is stronger | $232.3M | — |
| Stockholders' EquityBook value | $511.8M | $-122.5K |
| Total Assets | $1.1B | $5.7B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | $37.9M | ||
| Q4 25 | $41.3M | $57.4M | ||
| Q3 25 | $39.5M | $34.7M | ||
| Q2 25 | $32.8M | $33.6M | ||
| Q1 25 | $41.4M | $26.3M | ||
| Q4 24 | $43.9M | $27.8M | ||
| Q3 24 | $51.0M | $20.3M | ||
| Q2 24 | $30.4M | $33.1M |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | $285.0M | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B |
| Q1 26 | $511.8M | $-122.5K | ||
| Q4 25 | $512.3M | $21.3M | ||
| Q3 25 | $500.2M | $181.1M | ||
| Q2 25 | $481.8M | $375.5M | ||
| Q1 25 | $487.9M | $476.2M | ||
| Q4 24 | $522.1M | $202.7M | ||
| Q3 24 | $506.4M | $370.8M | ||
| Q2 24 | $480.0M | $394.8M |
| Q1 26 | $1.1B | $5.7B | ||
| Q4 25 | $1.1B | $5.7B | ||
| Q3 25 | $1.2B | $5.5B | ||
| Q2 25 | $1.2B | $4.4B | ||
| Q1 25 | $1.2B | $4.1B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $917.1M | $2.4B | ||
| Q2 24 | $889.0M | $2.5B |
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | 0.58× | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× |
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 | $-69.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 7.8% | — |
| Cash ConversionOCF / Net Profit | 7.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | $-69.4M | ||
| Q4 25 | $29.3M | $-2.8M | ||
| Q3 25 | $57.1M | $-24.4M | ||
| Q2 25 | $-19.8M | $-5.2M | ||
| Q1 25 | $30.0M | $-85.7M | ||
| Q4 24 | $31.0M | $-8.1M | ||
| Q3 24 | $58.7M | $14.2M | ||
| Q2 24 | $5.5M | $-17.6M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $-68.6M | ||
| Q3 25 | $52.4M | $-90.7M | ||
| Q2 25 | $-26.9M | $-87.5M | ||
| Q1 25 | $19.1M | $-151.7M | ||
| Q4 24 | $22.0M | $-34.3M | ||
| Q3 24 | $50.2M | $-11.7M | ||
| Q2 24 | $-1.8M | $-32.1M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | -47.8% | ||
| Q3 25 | 14.6% | -64.5% | ||
| Q2 25 | -7.8% | -71.6% | ||
| Q1 25 | 5.5% | -157.7% | ||
| Q4 24 | 6.4% | -42.4% | ||
| Q3 24 | 14.7% | -14.0% | ||
| Q2 24 | -0.5% | -37.9% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 45.9% | ||
| Q3 25 | 1.3% | 47.2% | ||
| Q2 25 | 2.1% | 67.3% | ||
| Q1 25 | 3.2% | 68.6% | ||
| Q4 24 | 2.6% | 32.5% | ||
| Q3 24 | 2.5% | 31.1% | ||
| Q2 24 | 2.2% | 17.2% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 12.08× | -0.71× | ||
| Q4 24 | 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
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
FIP
Segment breakdown not available.
