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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and TRINITY INDUSTRIES INC (TRN). Click either name above to swap in a different company.
TRINITY INDUSTRIES INC is the larger business by last-quarter revenue ($611.2M vs $351.4M, roughly 1.7× APOGEE ENTERPRISES, INC.). TRINITY INDUSTRIES INC runs the higher net margin — 31.8% vs 4.7%, a 27.0% gap on every dollar of revenue. On growth, APOGEE ENTERPRISES, INC. posted the faster year-over-year revenue change (1.6% vs -2.9%). Over the past eight quarters, APOGEE ENTERPRISES, INC.'s revenue compounded faster (2.9% CAGR vs -13.1%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
Trinity Industries Inc. is an American industrial corporation that owns a variety of businesses which provide products and services to the industrial, energy, transportation and construction sectors.
APOG vs TRN — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $611.2M |
| Net Profit | $16.6M | $194.2M |
| Gross Margin | 22.4% | 25.5% |
| Operating Margin | 7.3% | 54.9% |
| Net Margin | 4.7% | 31.8% |
| Revenue YoY | 1.6% | -2.9% |
| Net Profit YoY | 568.8% | 413.8% |
| EPS (diluted) | $0.78 | $2.25 |
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 | $611.2M | ||
| Q3 25 | $358.2M | $454.1M | ||
| Q2 25 | $346.6M | $506.2M | ||
| Q1 25 | $345.7M | $585.4M | ||
| Q4 24 | $341.3M | $629.4M | ||
| Q3 24 | $342.4M | $798.8M | ||
| Q2 24 | $331.5M | $841.4M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $194.2M | ||
| Q3 25 | $23.6M | $30.3M | ||
| Q2 25 | $-2.7M | $14.1M | ||
| Q1 25 | $2.5M | $22.1M | ||
| Q4 24 | $21.0M | $37.8M | ||
| Q3 24 | $30.6M | $31.4M | ||
| Q2 24 | $31.0M | $54.4M |
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | 25.5% | ||
| Q3 25 | 23.1% | 31.1% | ||
| Q2 25 | 21.7% | 26.4% | ||
| Q1 25 | 21.6% | 24.3% | ||
| Q4 24 | 26.1% | 24.6% | ||
| Q3 24 | 28.4% | 21.2% | ||
| Q2 24 | 29.8% | 21.3% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | 54.9% | ||
| Q3 25 | 7.5% | 26.1% | ||
| Q2 25 | 2.0% | 18.8% | ||
| Q1 25 | 1.8% | 17.0% | ||
| Q4 24 | 8.4% | 17.8% | ||
| Q3 24 | 12.3% | 15.3% | ||
| Q2 24 | 12.5% | 16.9% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 31.8% | ||
| Q3 25 | 6.6% | 6.7% | ||
| Q2 25 | -0.8% | 2.8% | ||
| Q1 25 | 0.7% | 3.8% | ||
| Q4 24 | 6.1% | 6.0% | ||
| Q3 24 | 8.9% | 3.9% | ||
| Q2 24 | 9.4% | 6.5% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $2.25 | ||
| Q3 25 | $1.10 | $0.37 | ||
| Q2 25 | $-0.13 | $0.17 | ||
| Q1 25 | $0.12 | $0.26 | ||
| Q4 24 | $0.96 | $0.34 | ||
| Q3 24 | $1.40 | $0.37 | ||
| Q2 24 | $1.41 | $0.65 |
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 | $201.3M |
| Total DebtLower is stronger | $232.3M | — |
| Stockholders' EquityBook value | $511.8M | $1.1B |
| Total Assets | $1.1B | $8.4B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $201.3M | ||
| Q3 25 | $39.5M | $66.3M | ||
| Q2 25 | $32.8M | $147.7M | ||
| Q1 25 | $41.4M | $94.9M | ||
| Q4 24 | $43.9M | $228.2M | ||
| Q3 24 | $51.0M | $222.4M | ||
| Q2 24 | $30.4M | $257.1M |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $285.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $1.1B | ||
| Q3 25 | $500.2M | $1.0B | ||
| Q2 25 | $481.8M | $1.0B | ||
| Q1 25 | $487.9M | $1.1B | ||
| Q4 24 | $522.1M | $1.1B | ||
| Q3 24 | $506.4M | $1.1B | ||
| Q2 24 | $480.0M | $1.1B |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $8.4B | ||
| Q3 25 | $1.2B | $8.9B | ||
| Q2 25 | $1.2B | $8.8B | ||
| Q1 25 | $1.2B | $8.7B | ||
| Q4 24 | $1.2B | $8.8B | ||
| Q3 24 | $917.1M | $8.8B | ||
| Q2 24 | $889.0M | $9.0B |
| 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 | $177.4M |
| Free Cash FlowOCF − Capex | — | $158.6M |
| FCF MarginFCF / Revenue | — | 25.9% |
| Capex IntensityCapex / Revenue | 7.8% | 3.1% |
| Cash ConversionOCF / Net Profit | 7.37× | 0.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $314.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $177.4M | ||
| Q3 25 | $57.1M | $44.2M | ||
| Q2 25 | $-19.8M | $61.6M | ||
| Q1 25 | $30.0M | $76.5M | ||
| Q4 24 | $31.0M | $201.6M | ||
| Q3 24 | $58.7M | $78.5M | ||
| Q2 24 | $5.5M | $241.5M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $158.6M | ||
| Q3 25 | $52.4M | $35.3M | ||
| Q2 25 | $-26.9M | $52.9M | ||
| Q1 25 | $19.1M | $67.3M | ||
| Q4 24 | $22.0M | $180.1M | ||
| Q3 24 | $50.2M | $62.1M | ||
| Q2 24 | $-1.8M | $230.2M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 25.9% | ||
| Q3 25 | 14.6% | 7.8% | ||
| Q2 25 | -7.8% | 10.5% | ||
| Q1 25 | 5.5% | 11.5% | ||
| Q4 24 | 6.4% | 28.6% | ||
| Q3 24 | 14.7% | 7.8% | ||
| Q2 24 | -0.5% | 27.4% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 3.1% | ||
| Q3 25 | 1.3% | 2.0% | ||
| Q2 25 | 2.1% | 1.7% | ||
| Q1 25 | 3.2% | 1.6% | ||
| Q4 24 | 2.6% | 3.4% | ||
| Q3 24 | 2.5% | 2.1% | ||
| Q2 24 | 2.2% | 1.3% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 0.91× | ||
| Q3 25 | 2.41× | 1.46× | ||
| Q2 25 | — | 4.37× | ||
| Q1 25 | 12.08× | 3.46× | ||
| Q4 24 | 1.48× | 5.33× | ||
| Q3 24 | 1.92× | 2.50× | ||
| Q2 24 | 0.18× | 4.44× |
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% |
TRN
| Manufacturing | $296.5M | 49% |
| Leasing And Management | $234.8M | 38% |
| Maintenance Services Domain | $69.8M | 11% |
| Digital Logistics Services | $11.2M | 2% |
