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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $348.6M, roughly 1.1× APOGEE ENTERPRISES, INC.). Bristow Group Inc. runs the higher net margin — 4.9% vs 4.7%, a 0.1% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs 2.1%). Bristow Group Inc. produced more free cash flow last quarter ($47.8M vs $22.9M). Over the past eight quarters, Bristow Group Inc.'s revenue compounded faster (5.8% 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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
APOG vs VTOL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $348.6M | $377.3M |
| Net Profit | $16.5M | $18.4M |
| Gross Margin | 23.8% | — |
| Operating Margin | 7.1% | 8.5% |
| Net Margin | 4.7% | 4.9% |
| Revenue YoY | 2.1% | 6.7% |
| Net Profit YoY | -21.2% | -42.1% |
| EPS (diluted) | $0.77 | $0.61 |
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.
| Q4 25 | $348.6M | $377.3M | ||
| Q3 25 | $358.2M | $386.3M | ||
| Q2 25 | $346.6M | $376.4M | ||
| Q1 25 | $345.7M | $350.5M | ||
| Q4 24 | $341.3M | $353.5M | ||
| Q3 24 | $342.4M | $365.1M | ||
| Q2 24 | $331.5M | $359.7M | ||
| Q1 24 | $361.8M | $337.1M |
| Q4 25 | $16.5M | $18.4M | ||
| Q3 25 | $23.6M | $51.5M | ||
| Q2 25 | $-2.7M | $31.7M | ||
| Q1 25 | $2.5M | $27.4M | ||
| Q4 24 | $21.0M | $31.8M | ||
| Q3 24 | $30.6M | $28.2M | ||
| Q2 24 | $31.0M | $28.2M | ||
| Q1 24 | $15.7M | $6.6M |
| 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 24 | 24.4% | — |
| Q4 25 | 7.1% | 8.5% | ||
| Q3 25 | 7.5% | 13.1% | ||
| Q2 25 | 2.0% | 11.3% | ||
| Q1 25 | 1.8% | 9.6% | ||
| Q4 24 | 8.4% | 9.0% | ||
| Q3 24 | 12.3% | 9.1% | ||
| Q2 24 | 12.5% | 12.4% | ||
| Q1 24 | 6.0% | 6.8% |
| Q4 25 | 4.7% | 4.9% | ||
| Q3 25 | 6.6% | 13.3% | ||
| Q2 25 | -0.8% | 8.4% | ||
| Q1 25 | 0.7% | 7.8% | ||
| Q4 24 | 6.1% | 9.0% | ||
| Q3 24 | 8.9% | 7.7% | ||
| Q2 24 | 9.4% | 7.8% | ||
| Q1 24 | 4.3% | 2.0% |
| Q4 25 | $0.77 | $0.61 | ||
| Q3 25 | $1.10 | $1.72 | ||
| Q2 25 | $-0.13 | $1.07 | ||
| Q1 25 | $0.12 | $0.92 | ||
| Q4 24 | $0.96 | $1.07 | ||
| Q3 24 | $1.40 | $0.95 | ||
| Q2 24 | $1.41 | $0.96 | ||
| Q1 24 | $0.71 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $41.3M | $286.2M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $512.3M | $1.1B |
| Total Assets | $1.1B | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.3M | $286.2M | ||
| Q3 25 | $39.5M | $245.5M | ||
| Q2 25 | $32.8M | $251.8M | ||
| Q1 25 | $41.4M | $191.1M | ||
| Q4 24 | $43.9M | $247.5M | ||
| Q3 24 | $51.0M | $200.3M | ||
| Q2 24 | $30.4M | $178.6M | ||
| Q1 24 | $37.2M | $140.6M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $675.0M | ||
| Q2 25 | — | $705.2M | ||
| Q1 25 | $285.0M | $701.9M | ||
| Q4 24 | — | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | $62.0M | $544.1M |
| Q4 25 | $512.3M | $1.1B | ||
| Q3 25 | $500.2M | $1.0B | ||
| Q2 25 | $481.8M | $984.4M | ||
| Q1 25 | $487.9M | $931.7M | ||
| Q4 24 | $522.1M | $891.7M | ||
| Q3 24 | $506.4M | $899.2M | ||
| Q2 24 | $480.0M | $849.1M | ||
| Q1 24 | $471.0M | $820.7M |
| Q4 25 | $1.1B | $2.3B | ||
| Q3 25 | $1.2B | $2.3B | ||
| Q2 25 | $1.2B | $2.3B | ||
| Q1 25 | $1.2B | $2.2B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | $917.1M | $2.1B | ||
| Q2 24 | $889.0M | $2.0B | ||
| Q1 24 | $884.1M | $1.9B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | 0.58× | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | 0.13× | 0.66× |
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 | $29.3M | $76.9M |
| Free Cash FlowOCF − Capex | $22.9M | $47.8M |
| FCF MarginFCF / Revenue | 6.6% | 12.7% |
| Capex IntensityCapex / Revenue | 1.9% | 7.7% |
| Cash ConversionOCF / Net Profit | 1.77× | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $67.4M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $76.9M | ||
| Q3 25 | $57.1M | $23.1M | ||
| Q2 25 | $-19.8M | $99.0M | ||
| Q1 25 | $30.0M | $-603.0K | ||
| Q4 24 | $31.0M | $51.1M | ||
| Q3 24 | $58.7M | $66.0M | ||
| Q2 24 | $5.5M | $33.7M | ||
| Q1 24 | $74.9M | $26.7M |
| Q4 25 | $22.9M | $47.8M | ||
| Q3 25 | $52.4M | $-6.2M | ||
| Q2 25 | $-26.9M | $67.4M | ||
| Q1 25 | $19.1M | $-52.7M | ||
| Q4 24 | $22.0M | $-32.4M | ||
| Q3 24 | $50.2M | $9.0M | ||
| Q2 24 | $-1.8M | $-16.7M | ||
| Q1 24 | $58.7M | $-37.9M |
| Q4 25 | 6.6% | 12.7% | ||
| Q3 25 | 14.6% | -1.6% | ||
| Q2 25 | -7.8% | 17.9% | ||
| Q1 25 | 5.5% | -15.0% | ||
| Q4 24 | 6.4% | -9.2% | ||
| Q3 24 | 14.7% | 2.5% | ||
| Q2 24 | -0.5% | -4.6% | ||
| Q1 24 | 16.2% | -11.2% |
| Q4 25 | 1.9% | 7.7% | ||
| Q3 25 | 1.3% | 7.6% | ||
| Q2 25 | 2.1% | 8.4% | ||
| Q1 25 | 3.2% | 14.9% | ||
| Q4 24 | 2.6% | 23.6% | ||
| Q3 24 | 2.5% | 15.6% | ||
| Q2 24 | 2.2% | 14.0% | ||
| Q1 24 | 4.5% | 19.2% |
| Q4 25 | 1.77× | 4.17× | ||
| Q3 25 | 2.41× | 0.45× | ||
| Q2 25 | — | 3.12× | ||
| Q1 25 | 12.08× | -0.02× | ||
| Q4 24 | 1.48× | 1.61× | ||
| Q3 24 | 1.92× | 2.34× | ||
| Q2 24 | 0.18× | 1.20× | ||
| Q1 24 | 4.76× | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APOG
| Transferred At Point In Time | $163.0M | 47% |
| Architectural Services Segment | $105.2M | 30% |
| Performance Surfaces | $53.0M | 15% |
| UW Interco LLC | $27.9M | 8% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
