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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and UPWORK, INC (UPWK). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $198.4M, roughly 1.8× UPWORK, INC). UPWORK, INC runs the higher net margin — 7.9% vs 4.7%, a 3.1% gap on every dollar of revenue. On growth, UPWORK, INC posted the faster year-over-year revenue change (3.6% vs 1.6%). Over the past eight quarters, APOGEE ENTERPRISES, INC.'s revenue compounded faster (2.9% CAGR vs 1.9%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
Upwork Inc. is an American freelancing platform headquartered in Santa Clara and San Francisco, California. The company was formed in 2013 as Elance-oDesk after the merger of Elance Inc. and oDesk Corp. The merged company was subsequently rebranded as Upwork in 2015.
APOG vs UPWK — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $198.4M |
| Net Profit | $16.6M | $15.6M |
| Gross Margin | 22.4% | 78.0% |
| Operating Margin | 7.3% | 14.3% |
| Net Margin | 4.7% | 7.9% |
| Revenue YoY | 1.6% | 3.6% |
| Net Profit YoY | 568.8% | -89.4% |
| 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 | $198.4M | ||
| Q3 25 | $358.2M | $201.7M | ||
| Q2 25 | $346.6M | $194.9M | ||
| Q1 25 | $345.7M | $192.7M | ||
| Q4 24 | $341.3M | $191.5M | ||
| Q3 24 | $342.4M | $193.8M | ||
| Q2 24 | $331.5M | $193.1M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $15.6M | ||
| Q3 25 | $23.6M | $29.3M | ||
| Q2 25 | $-2.7M | $32.7M | ||
| Q1 25 | $2.5M | $37.7M | ||
| Q4 24 | $21.0M | $147.2M | ||
| Q3 24 | $30.6M | $27.8M | ||
| Q2 24 | $31.0M | $22.2M |
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | 78.0% | ||
| Q3 25 | 23.1% | 77.3% | ||
| Q2 25 | 21.7% | 77.7% | ||
| Q1 25 | 21.6% | 78.3% | ||
| Q4 24 | 26.1% | 77.7% | ||
| Q3 24 | 28.4% | 77.6% | ||
| Q2 24 | 29.8% | 77.3% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | 14.3% | ||
| Q3 25 | 7.5% | 14.8% | ||
| Q2 25 | 2.0% | 16.7% | ||
| Q1 25 | 1.8% | 20.1% | ||
| Q4 24 | 8.4% | 7.1% | ||
| Q3 24 | 12.3% | 10.7% | ||
| Q2 24 | 12.5% | 9.2% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | 7.9% | ||
| Q3 25 | 6.6% | 14.5% | ||
| Q2 25 | -0.8% | 16.8% | ||
| Q1 25 | 0.7% | 19.6% | ||
| Q4 24 | 6.1% | 76.9% | ||
| Q3 24 | 8.9% | 14.3% | ||
| Q2 24 | 9.4% | 11.5% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $0.12 | ||
| Q3 25 | $1.10 | $0.21 | ||
| Q2 25 | $-0.13 | $0.24 | ||
| Q1 25 | $0.12 | $0.27 | ||
| Q4 24 | $0.96 | $1.02 | ||
| Q3 24 | $1.40 | $0.20 | ||
| Q2 24 | $1.41 | $0.17 |
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 | $672.8M |
| Total DebtLower is stronger | $232.3M | $359.8M |
| Stockholders' EquityBook value | $511.8M | $630.3M |
| Total Assets | $1.1B | $1.3B |
| Debt / EquityLower = less leverage | 0.45× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $672.8M | ||
| Q3 25 | $39.5M | $643.1M | ||
| Q2 25 | $32.8M | $634.6M | ||
| Q1 25 | $41.4M | $622.1M | ||
| Q4 24 | $43.9M | $622.1M | ||
| Q3 24 | $51.0M | $601.2M | ||
| Q2 24 | $30.4M | $497.7M |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | $359.8M | ||
| Q3 25 | — | $359.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | $285.0M | — | ||
| Q4 24 | — | $357.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $630.3M | ||
| Q3 25 | $500.2M | $628.1M | ||
| Q2 25 | $481.8M | $608.7M | ||
| Q1 25 | $487.9M | $594.3M | ||
| Q4 24 | $522.1M | $575.4M | ||
| Q3 24 | $506.4M | $411.2M | ||
| Q2 24 | $480.0M | $361.1M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $917.1M | $1.1B | ||
| Q2 24 | $889.0M | $1.0B |
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | 0.62× | ||
| 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 | $63.7M |
| Free Cash FlowOCF − Capex | — | $63.2M |
| FCF MarginFCF / Revenue | — | 31.9% |
| Capex IntensityCapex / Revenue | 7.8% | 0.2% |
| Cash ConversionOCF / Net Profit | 7.37× | 4.07× |
| TTM Free Cash FlowTrailing 4 quarters | — | $242.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $63.7M | ||
| Q3 25 | $57.1M | $75.1M | ||
| Q2 25 | $-19.8M | $72.5M | ||
| Q1 25 | $30.0M | $37.0M | ||
| Q4 24 | $31.0M | $38.6M | ||
| Q3 24 | $58.7M | $61.0M | ||
| Q2 24 | $5.5M | $39.2M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $63.2M | ||
| Q3 25 | $52.4M | $74.6M | ||
| Q2 25 | $-26.9M | $70.1M | ||
| Q1 25 | $19.1M | $34.5M | ||
| Q4 24 | $22.0M | $37.0M | ||
| Q3 24 | $50.2M | $59.8M | ||
| Q2 24 | $-1.8M | $38.6M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 31.9% | ||
| Q3 25 | 14.6% | 37.0% | ||
| Q2 25 | -7.8% | 36.0% | ||
| Q1 25 | 5.5% | 17.9% | ||
| Q4 24 | 6.4% | 19.3% | ||
| Q3 24 | 14.7% | 30.8% | ||
| Q2 24 | -0.5% | 20.0% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 0.2% | ||
| Q3 25 | 1.3% | 0.2% | ||
| Q2 25 | 2.1% | 1.2% | ||
| Q1 25 | 3.2% | 1.3% | ||
| Q4 24 | 2.6% | 0.8% | ||
| Q3 24 | 2.5% | 0.6% | ||
| Q2 24 | 2.2% | 0.3% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | 4.07× | ||
| Q3 25 | 2.41× | 2.56× | ||
| Q2 25 | — | 2.22× | ||
| Q1 25 | 12.08× | 0.98× | ||
| Q4 24 | 1.48× | 0.26× | ||
| Q3 24 | 1.92× | 2.20× | ||
| Q2 24 | 0.18× | 1.76× |
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% |
UPWK
Segment breakdown not available.
