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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and RLI CORP (RLI). Click either name above to swap in a different company.
RLI CORP is the larger business by last-quarter revenue ($465.7M vs $351.4M, roughly 1.3× APOGEE ENTERPRISES, INC.). RLI CORP runs the higher net margin — 19.6% vs 4.7%, a 14.8% gap on every dollar of revenue. On growth, RLI CORP posted the faster year-over-year revenue change (6.1% vs 1.6%). Over the past eight quarters, APOGEE ENTERPRISES, INC.'s revenue compounded faster (2.9% CAGR vs 2.3%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. It is headquartered in Peoria, Illinois.
APOG vs RLI — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $465.7M |
| Net Profit | $16.6M | $91.2M |
| Gross Margin | 22.4% | — |
| Operating Margin | 7.3% | 24.4% |
| Net Margin | 4.7% | 19.6% |
| Revenue YoY | 1.6% | 6.1% |
| Net Profit YoY | 568.8% | 123.1% |
| EPS (diluted) | $0.78 | $1.00 |
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 | $465.7M | ||
| Q3 25 | $358.2M | $509.3M | ||
| Q2 25 | $346.6M | $499.8M | ||
| Q1 25 | $345.7M | $407.7M | ||
| Q4 24 | $341.3M | $439.1M | ||
| Q3 24 | $342.4M | $470.0M | ||
| Q2 24 | $331.5M | $416.4M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $91.2M | ||
| Q3 25 | $23.6M | $124.6M | ||
| Q2 25 | $-2.7M | $124.3M | ||
| Q1 25 | $2.5M | $63.2M | ||
| Q4 24 | $21.0M | $40.9M | ||
| Q3 24 | $30.6M | $95.0M | ||
| Q2 24 | $31.0M | $82.0M |
| 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% | 24.4% | ||
| Q3 25 | 7.5% | 30.9% | ||
| Q2 25 | 2.0% | 31.3% | ||
| Q1 25 | 1.8% | 19.3% | ||
| Q4 24 | 8.4% | 10.8% | ||
| Q3 24 | 12.3% | 24.9% | ||
| Q2 24 | 12.5% | 24.8% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 19.6% | ||
| Q3 25 | 6.6% | 24.5% | ||
| Q2 25 | -0.8% | 24.9% | ||
| Q1 25 | 0.7% | 15.5% | ||
| Q4 24 | 6.1% | 9.3% | ||
| Q3 24 | 8.9% | 20.2% | ||
| Q2 24 | 9.4% | 19.7% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $1.00 | ||
| Q3 25 | $1.10 | $1.35 | ||
| Q2 25 | $-0.13 | $1.34 | ||
| Q1 25 | $0.12 | $0.68 | ||
| Q4 24 | $0.96 | $-2.87 | ||
| Q3 24 | $1.40 | $2.06 | ||
| Q2 24 | $1.41 | $1.78 |
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 | — |
| Total DebtLower is stronger | $232.3M | — |
| Stockholders' EquityBook value | $511.8M | $1.8B |
| Total Assets | $1.1B | $6.2B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | — | ||
| Q3 25 | $39.5M | — | ||
| Q2 25 | $32.8M | — | ||
| Q1 25 | $41.4M | — | ||
| Q4 24 | $43.9M | — | ||
| Q3 24 | $51.0M | — | ||
| Q2 24 | $30.4M | — |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $100.0M | ||
| Q2 25 | — | $100.0M | ||
| Q1 25 | $285.0M | $100.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | — | $100.0M | ||
| Q2 24 | — | $100.0M |
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $1.8B | ||
| Q3 25 | $500.2M | $1.9B | ||
| Q2 25 | $481.8M | $1.7B | ||
| Q1 25 | $487.9M | $1.6B | ||
| Q4 24 | $522.1M | $1.5B | ||
| Q3 24 | $506.4M | $1.7B | ||
| Q2 24 | $480.0M | $1.6B |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $6.2B | ||
| Q3 25 | $1.2B | $6.2B | ||
| Q2 25 | $1.2B | $6.0B | ||
| Q1 25 | $1.2B | $5.7B | ||
| Q4 24 | $1.2B | $5.6B | ||
| Q3 24 | $917.1M | $5.8B | ||
| Q2 24 | $889.0M | $5.5B |
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | 0.58× | 0.06× | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.06× |
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 | $156.8M |
| Free Cash FlowOCF − Capex | — | $155.0M |
| FCF MarginFCF / Revenue | — | 33.3% |
| Capex IntensityCapex / Revenue | 7.8% | 0.4% |
| Cash ConversionOCF / Net Profit | 7.37× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $156.8M | ||
| Q3 25 | $57.1M | $179.2M | ||
| Q2 25 | $-19.8M | $174.7M | ||
| Q1 25 | $30.0M | $103.5M | ||
| Q4 24 | $31.0M | $128.1M | ||
| Q3 24 | $58.7M | $219.4M | ||
| Q2 24 | $5.5M | $141.8M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $155.0M | ||
| Q3 25 | $52.4M | $177.8M | ||
| Q2 25 | $-26.9M | $173.4M | ||
| Q1 25 | $19.1M | $102.5M | ||
| Q4 24 | $22.0M | $127.6M | ||
| Q3 24 | $50.2M | $219.0M | ||
| Q2 24 | $-1.8M | $139.1M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 33.3% | ||
| Q3 25 | 14.6% | 34.9% | ||
| Q2 25 | -7.8% | 34.7% | ||
| Q1 25 | 5.5% | 25.1% | ||
| Q4 24 | 6.4% | 29.0% | ||
| Q3 24 | 14.7% | 46.6% | ||
| Q2 24 | -0.5% | 33.4% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 0.4% | ||
| Q3 25 | 1.3% | 0.3% | ||
| Q2 25 | 2.1% | 0.3% | ||
| Q1 25 | 3.2% | 0.3% | ||
| Q4 24 | 2.6% | 0.1% | ||
| Q3 24 | 2.5% | 0.1% | ||
| Q2 24 | 2.2% | 0.7% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 1.72× | ||
| Q3 25 | 2.41× | 1.44× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | 12.08× | 1.64× | ||
| Q4 24 | 1.48× | 3.13× | ||
| Q3 24 | 1.92× | 2.31× | ||
| Q2 24 | 0.18× | 1.73× |
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% |
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
