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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and NNN REIT, INC. (NNN). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $240.4M, roughly 1.5× NNN REIT, INC.). NNN REIT, INC. runs the higher net margin — 39.1% vs 4.7%, a 34.3% gap on every dollar of revenue. On growth, NNN REIT, INC. posted the faster year-over-year revenue change (4.1% vs 1.6%). Over the past eight quarters, NNN REIT, INC.'s revenue compounded faster (5.3% 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.
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
APOG vs NNN — Head-to-Head
Income Statement — Q4 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $240.4M |
| Net Profit | $16.6M | $94.0M |
| Gross Margin | 22.4% | — |
| Operating Margin | 7.3% | 61.0% |
| Net Margin | 4.7% | 39.1% |
| Revenue YoY | 1.6% | 4.1% |
| Net Profit YoY | 568.8% | -2.6% |
| EPS (diluted) | $0.78 | $0.50 |
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 | $240.4M | ||
| Q4 25 | $348.6M | $238.4M | ||
| Q3 25 | $358.2M | $230.2M | ||
| Q2 25 | $346.6M | $226.8M | ||
| Q1 25 | $345.7M | $230.9M | ||
| Q4 24 | $341.3M | $218.5M | ||
| Q3 24 | $342.4M | $218.6M | ||
| Q2 24 | $331.5M | $216.8M |
| Q1 26 | $16.6M | $94.0M | ||
| Q4 25 | $16.5M | $96.0M | ||
| Q3 25 | $23.6M | $96.8M | ||
| Q2 25 | $-2.7M | $100.5M | ||
| Q1 25 | $2.5M | $96.5M | ||
| Q4 24 | $21.0M | $97.9M | ||
| Q3 24 | $30.6M | $97.9M | ||
| Q2 24 | $31.0M | $106.7M |
| 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% | 61.0% | ||
| Q4 25 | 7.1% | 62.3% | ||
| Q3 25 | 7.5% | 64.0% | ||
| Q2 25 | 2.0% | 66.0% | ||
| Q1 25 | 1.8% | 62.3% | ||
| Q4 24 | 8.4% | 65.8% | ||
| Q3 24 | 12.3% | 65.7% | ||
| Q2 24 | 12.5% | 70.2% |
| Q1 26 | 4.7% | 39.1% | ||
| Q4 25 | 4.7% | 40.2% | ||
| Q3 25 | 6.6% | 42.1% | ||
| Q2 25 | -0.8% | 44.3% | ||
| Q1 25 | 0.7% | 41.8% | ||
| Q4 24 | 6.1% | 44.8% | ||
| Q3 24 | 8.9% | 44.8% | ||
| Q2 24 | 9.4% | 49.2% |
| Q1 26 | $0.78 | $0.50 | ||
| Q4 25 | $0.77 | $0.51 | ||
| Q3 25 | $1.10 | $0.51 | ||
| Q2 25 | $-0.13 | $0.54 | ||
| Q1 25 | $0.12 | $0.51 | ||
| Q4 24 | $0.96 | $0.52 | ||
| Q3 24 | $1.40 | $0.53 | ||
| Q2 24 | $1.41 | $0.58 |
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 | $4.6M |
| Total DebtLower is stronger | $232.3M | — |
| Stockholders' EquityBook value | $511.8M | $4.4B |
| Total Assets | $1.1B | $9.4B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | $4.6M | ||
| Q4 25 | $41.3M | $5.0M | ||
| Q3 25 | $39.5M | $157.9M | ||
| Q2 25 | $32.8M | $6.0M | ||
| Q1 25 | $41.4M | $5.1M | ||
| Q4 24 | $43.9M | $8.7M | ||
| Q3 24 | $51.0M | $173.5M | ||
| Q2 24 | $30.4M | $2.1M |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $285.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $511.8M | $4.4B | ||
| Q4 25 | $512.3M | $4.4B | ||
| Q3 25 | $500.2M | $4.4B | ||
| Q2 25 | $481.8M | $4.4B | ||
| Q1 25 | $487.9M | $4.4B | ||
| Q4 24 | $522.1M | $4.4B | ||
| Q3 24 | $506.4M | $4.4B | ||
| Q2 24 | $480.0M | $4.2B |
| Q1 26 | $1.1B | $9.4B | ||
| Q4 25 | $1.1B | $9.4B | ||
| Q3 25 | $1.2B | $9.5B | ||
| Q2 25 | $1.2B | $9.1B | ||
| Q1 25 | $1.2B | $9.0B | ||
| Q4 24 | $1.2B | $8.9B | ||
| Q3 24 | $917.1M | $8.9B | ||
| Q2 24 | $889.0M | $8.7B |
| 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 | — |
| 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 | — | ||
| Q4 25 | $29.3M | $667.1M | ||
| Q3 25 | $57.1M | $218.3M | ||
| Q2 25 | $-19.8M | $119.4M | ||
| Q1 25 | $30.0M | $203.3M | ||
| Q4 24 | $31.0M | $635.5M | ||
| Q3 24 | $58.7M | $206.6M | ||
| Q2 24 | $5.5M | $120.5M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | — | ||
| Q3 25 | $52.4M | — | ||
| Q2 25 | $-26.9M | — | ||
| Q1 25 | $19.1M | — | ||
| Q4 24 | $22.0M | — | ||
| Q3 24 | $50.2M | — | ||
| Q2 24 | $-1.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | — | ||
| Q3 25 | 14.6% | — | ||
| Q2 25 | -7.8% | — | ||
| Q1 25 | 5.5% | — | ||
| Q4 24 | 6.4% | — | ||
| Q3 24 | 14.7% | — | ||
| Q2 24 | -0.5% | — |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 3.2% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 2.2% | — |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 6.95× | ||
| Q3 25 | 2.41× | 2.25× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | 12.08× | 2.11× | ||
| Q4 24 | 1.48× | 6.49× | ||
| Q3 24 | 1.92× | 2.11× | ||
| Q2 24 | 0.18× | 1.13× |
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% |
NNN
Segment breakdown not available.
