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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $181.5M, roughly 1.9× Mistras Group, Inc.). APOGEE ENTERPRISES, INC. runs the higher net margin — 4.7% vs 2.1%, a 2.7% gap on every dollar of revenue. On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs 1.6%). Over the past eight quarters, APOGEE ENTERPRISES, INC.'s revenue compounded faster (2.9% CAGR vs -0.8%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
Mistras Group, Inc. is a global provider of asset integrity and protection solutions, offering non-destructive testing, inspection, real-time monitoring, and engineering consulting services. Its key client segments include oil and gas, aerospace, power generation, and manufacturing industries, with operations spanning North America, Europe, and Asia-Pacific, helping clients enhance operational safety, extend asset lifespans, and minimize unplanned downtime.
APOG vs MG — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $181.5M |
| Net Profit | $16.6M | $3.8M |
| Gross Margin | 22.4% | 28.4% |
| Operating Margin | 7.3% | 7.0% |
| Net Margin | 4.7% | 2.1% |
| Revenue YoY | 1.6% | 5.1% |
| Net Profit YoY | 568.8% | -27.4% |
| EPS (diluted) | $0.78 | $0.12 |
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 | $181.5M | ||
| Q3 25 | $358.2M | $195.5M | ||
| Q2 25 | $346.6M | $185.4M | ||
| Q1 25 | $345.7M | $161.6M | ||
| Q4 24 | $341.3M | $172.7M | ||
| Q3 24 | $342.4M | $182.7M | ||
| Q2 24 | $331.5M | $189.8M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $3.8M | ||
| Q3 25 | $23.6M | $13.1M | ||
| Q2 25 | $-2.7M | $3.0M | ||
| Q1 25 | $2.5M | $-3.2M | ||
| Q4 24 | $21.0M | $5.2M | ||
| Q3 24 | $30.6M | $6.4M | ||
| Q2 24 | $31.0M | $6.4M |
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | 28.4% | ||
| Q3 25 | 23.1% | 29.8% | ||
| Q2 25 | 21.7% | 29.1% | ||
| Q1 25 | 21.6% | 25.3% | ||
| Q4 24 | 26.1% | 26.5% | ||
| Q3 24 | 28.4% | 26.8% | ||
| Q2 24 | 29.8% | 27.1% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | 7.0% | ||
| Q3 25 | 7.5% | 10.4% | ||
| Q2 25 | 2.0% | 4.5% | ||
| Q1 25 | 1.8% | -0.6% | ||
| Q4 24 | 8.4% | 6.1% | ||
| Q3 24 | 12.3% | 6.5% | ||
| Q2 24 | 12.5% | 6.3% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 2.1% | ||
| Q3 25 | 6.6% | 6.7% | ||
| Q2 25 | -0.8% | 1.6% | ||
| Q1 25 | 0.7% | -2.0% | ||
| Q4 24 | 6.1% | 3.0% | ||
| Q3 24 | 8.9% | 3.5% | ||
| Q2 24 | 9.4% | 3.4% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $0.12 | ||
| Q3 25 | $1.10 | $0.41 | ||
| Q2 25 | $-0.13 | $0.10 | ||
| Q1 25 | $0.12 | $-0.10 | ||
| Q4 24 | $0.96 | $0.17 | ||
| Q3 24 | $1.40 | $0.20 | ||
| Q2 24 | $1.41 | $0.20 |
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 | $28.0M |
| Total DebtLower is stronger | $232.3M | $178.0M |
| Stockholders' EquityBook value | $511.8M | $235.1M |
| Total Assets | $1.1B | $578.8M |
| Debt / EquityLower = less leverage | 0.45× | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $28.0M | ||
| Q3 25 | $39.5M | $27.8M | ||
| Q2 25 | $32.8M | $20.0M | ||
| Q1 25 | $41.4M | $18.5M | ||
| Q4 24 | $43.9M | $18.3M | ||
| Q3 24 | $51.0M | $20.4M | ||
| Q2 24 | $30.4M | $17.2M |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $202.3M | ||
| Q2 25 | — | $189.4M | ||
| Q1 25 | $285.0M | $171.9M | ||
| Q4 24 | — | $169.6M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $199.7M |
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $235.1M | ||
| Q3 25 | $500.2M | $227.4M | ||
| Q2 25 | $481.8M | $215.8M | ||
| Q1 25 | $487.9M | $198.7M | ||
| Q4 24 | $522.1M | $198.6M | ||
| Q3 24 | $506.4M | $205.2M | ||
| Q2 24 | $480.0M | $193.2M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $578.8M | ||
| Q3 25 | $1.2B | $596.3M | ||
| Q2 25 | $1.2B | $571.0M | ||
| Q1 25 | $1.2B | $526.8M | ||
| Q4 24 | $1.2B | $523.0M | ||
| Q3 24 | $917.1M | $551.7M | ||
| Q2 24 | $889.0M | $548.1M |
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | 0.58× | 0.87× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | 1.03× |
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 | $32.1M |
| Free Cash FlowOCF − Capex | — | $26.0M |
| FCF MarginFCF / Revenue | — | 14.3% |
| Capex IntensityCapex / Revenue | 7.8% | 3.4% |
| Cash ConversionOCF / Net Profit | 7.37× | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $32.1M | ||
| Q3 25 | $57.1M | $4.5M | ||
| Q2 25 | $-19.8M | $-9.3M | ||
| Q1 25 | $30.0M | $5.6M | ||
| Q4 24 | $31.0M | $25.7M | ||
| Q3 24 | $58.7M | $19.4M | ||
| Q2 24 | $5.5M | $4.5M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $26.0M | ||
| Q3 25 | $52.4M | $-4.1M | ||
| Q2 25 | $-26.9M | $-14.7M | ||
| Q1 25 | $19.1M | $1.1M | ||
| Q4 24 | $22.0M | $22.1M | ||
| Q3 24 | $50.2M | $14.6M | ||
| Q2 24 | $-1.8M | $-284.0K |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 14.3% | ||
| Q3 25 | 14.6% | -2.1% | ||
| Q2 25 | -7.8% | -7.9% | ||
| Q1 25 | 5.5% | 0.7% | ||
| Q4 24 | 6.4% | 12.8% | ||
| Q3 24 | 14.7% | 8.0% | ||
| Q2 24 | -0.5% | -0.1% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 3.4% | ||
| Q3 25 | 1.3% | 4.4% | ||
| Q2 25 | 2.1% | 2.9% | ||
| Q1 25 | 3.2% | 2.8% | ||
| Q4 24 | 2.6% | 2.1% | ||
| Q3 24 | 2.5% | 2.6% | ||
| Q2 24 | 2.2% | 2.5% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 8.55× | ||
| Q3 25 | 2.41× | 0.34× | ||
| Q2 25 | — | -3.07× | ||
| Q1 25 | 12.08× | — | ||
| Q4 24 | 1.48× | 4.96× | ||
| Q3 24 | 1.92× | 3.02× | ||
| Q2 24 | 0.18× | 0.71× |
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% |
MG
Segment breakdown not available.
