vs
Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $246.2M, roughly 1.4× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 4.7%, a 34.9% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 1.6%). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% 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.
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
APOG vs HCI — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $246.2M |
| Net Profit | $16.6M | $97.7M |
| Gross Margin | 22.4% | — |
| Operating Margin | 7.3% | 58.5% |
| Net Margin | 4.7% | 39.7% |
| Revenue YoY | 1.6% | 52.1% |
| Net Profit YoY | 568.8% | 3679.2% |
| EPS (diluted) | $0.78 | $7.29 |
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 | $246.2M | ||
| Q3 25 | $358.2M | $216.3M | ||
| Q2 25 | $346.6M | $221.9M | ||
| Q1 25 | $345.7M | $216.4M | ||
| Q4 24 | $341.3M | $161.9M | ||
| Q3 24 | $342.4M | $175.3M | ||
| Q2 24 | $331.5M | $206.2M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $97.7M | ||
| Q3 25 | $23.6M | $65.5M | ||
| Q2 25 | $-2.7M | $66.2M | ||
| Q1 25 | $2.5M | $69.7M | ||
| Q4 24 | $21.0M | $2.6M | ||
| Q3 24 | $30.6M | $5.7M | ||
| Q2 24 | $31.0M | $54.1M |
| 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% | 58.5% | ||
| Q3 25 | 7.5% | 41.9% | ||
| Q2 25 | 2.0% | 42.5% | ||
| Q1 25 | 1.8% | 46.4% | ||
| Q4 24 | 8.4% | 3.6% | ||
| Q3 24 | 12.3% | 8.0% | ||
| Q2 24 | 12.5% | 36.9% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 39.7% | ||
| Q3 25 | 6.6% | 30.3% | ||
| Q2 25 | -0.8% | 29.8% | ||
| Q1 25 | 0.7% | 32.2% | ||
| Q4 24 | 6.1% | 1.6% | ||
| Q3 24 | 8.9% | 3.2% | ||
| Q2 24 | 9.4% | 26.2% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $7.29 | ||
| Q3 25 | $1.10 | $4.90 | ||
| Q2 25 | $-0.13 | $5.18 | ||
| Q1 25 | $0.12 | $5.35 | ||
| Q4 24 | $0.96 | $0.32 | ||
| Q3 24 | $1.40 | $0.52 | ||
| Q2 24 | $1.41 | $4.24 |
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 | $1.2B |
| Total DebtLower is stronger | $232.3M | — |
| Stockholders' EquityBook value | $511.8M | $1.0B |
| Total Assets | $1.1B | $2.5B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $1.2B | ||
| Q3 25 | $39.5M | $987.9M | ||
| Q2 25 | $32.8M | $947.2M | ||
| Q1 25 | $41.4M | $754.5M | ||
| Q4 24 | $43.9M | $532.5M | ||
| Q3 24 | $51.0M | $518.8M | ||
| Q2 24 | $30.4M | $445.8M |
| 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 | $1.0B | ||
| Q3 25 | $500.2M | $821.8M | ||
| Q2 25 | $481.8M | $758.6M | ||
| Q1 25 | $487.9M | $522.7M | ||
| Q4 24 | $522.1M | $453.3M | ||
| Q3 24 | $506.4M | $455.3M | ||
| Q2 24 | $480.0M | $447.3M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $2.5B | ||
| Q3 25 | $1.2B | $2.3B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.2B | $2.2B | ||
| Q3 24 | $917.1M | $2.0B | ||
| Q2 24 | $889.0M | $1.9B |
| 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 | $444.4M |
| Free Cash FlowOCF − Capex | — | $440.8M |
| FCF MarginFCF / Revenue | — | 179.0% |
| Capex IntensityCapex / Revenue | 7.8% | 1.5% |
| Cash ConversionOCF / Net Profit | 7.37× | 4.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $771.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $444.4M | ||
| Q3 25 | $57.1M | $26.7M | ||
| Q2 25 | $-19.8M | $145.0M | ||
| Q1 25 | $30.0M | $162.0M | ||
| Q4 24 | $31.0M | $331.8M | ||
| Q3 24 | $58.7M | $104.1M | ||
| Q2 24 | $5.5M | $-29.0M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $440.8M | ||
| Q3 25 | $52.4M | $25.9M | ||
| Q2 25 | $-26.9M | $144.5M | ||
| Q1 25 | $19.1M | $160.3M | ||
| Q4 24 | $22.0M | $327.8M | ||
| Q3 24 | $50.2M | $103.2M | ||
| Q2 24 | $-1.8M | $-30.1M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 179.0% | ||
| Q3 25 | 14.6% | 12.0% | ||
| Q2 25 | -7.8% | 65.1% | ||
| Q1 25 | 5.5% | 74.1% | ||
| Q4 24 | 6.4% | 202.5% | ||
| Q3 24 | 14.7% | 58.9% | ||
| Q2 24 | -0.5% | -14.6% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 1.5% | ||
| Q3 25 | 1.3% | 0.4% | ||
| Q2 25 | 2.1% | 0.2% | ||
| Q1 25 | 3.2% | 0.8% | ||
| Q4 24 | 2.6% | 2.5% | ||
| Q3 24 | 2.5% | 0.5% | ||
| Q2 24 | 2.2% | 0.5% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 4.55× | ||
| Q3 25 | 2.41× | 0.41× | ||
| Q2 25 | — | 2.19× | ||
| Q1 25 | 12.08× | 2.32× | ||
| Q4 24 | 1.48× | 128.41× | ||
| Q3 24 | 1.92× | 18.33× | ||
| Q2 24 | 0.18× | -0.54× |
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% |
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
