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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and OLYMPIC STEEL INC (ZEUS). Click either name above to swap in a different company.
OLYMPIC STEEL INC is the larger business by last-quarter revenue ($490.7M vs $351.4M, roughly 1.4× APOGEE ENTERPRISES, INC.). APOGEE ENTERPRISES, INC. runs the higher net margin — 4.7% vs 0.4%, a 4.3% gap on every dollar of revenue. On growth, OLYMPIC STEEL INC posted the faster year-over-year revenue change (4.4% vs 1.6%). Over the past eight quarters, APOGEE ENTERPRISES, INC.'s revenue compounded faster (2.9% CAGR vs 0.1%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
Olympic Steel, Inc. is a metals service center based in Cleveland, Ohio. The company processes and distributes carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminium alloy, tin plate, and metal-intensive branded products primarily in the United States. Metals processing and value added services include tempering, stretch leveling, cutting-to-length, slitting, edging, shearing, blanking, burning, forming, shot blasting, laser punching, plate rolling, fabricating, machi...
APOG vs ZEUS — Head-to-Head
Income Statement — Q4 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $490.7M |
| Net Profit | $16.6M | $2.2M |
| Gross Margin | 22.4% | — |
| Operating Margin | 7.3% | 1.5% |
| Net Margin | 4.7% | 0.4% |
| Revenue YoY | 1.6% | 4.4% |
| Net Profit YoY | 568.8% | -21.2% |
| EPS (diluted) | $0.78 | $0.18 |
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 | — | ||
| Q3 25 | $358.2M | $490.7M | ||
| Q2 25 | $346.6M | $496.5M | ||
| Q1 25 | $345.7M | $492.9M | ||
| Q4 24 | $341.3M | $418.8M | ||
| Q3 24 | $342.4M | $470.0M | ||
| Q2 24 | $331.5M | $526.3M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | — | ||
| Q3 25 | $23.6M | $2.2M | ||
| Q2 25 | $-2.7M | $5.2M | ||
| Q1 25 | $2.5M | $2.5M | ||
| Q4 24 | $21.0M | $3.9M | ||
| Q3 24 | $30.6M | $2.7M | ||
| Q2 24 | $31.0M | $7.7M |
| 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% | — | ||
| Q4 25 | 7.1% | — | ||
| Q3 25 | 7.5% | 1.5% | ||
| Q2 25 | 2.0% | 2.3% | ||
| Q1 25 | 1.8% | 1.6% | ||
| Q4 24 | 8.4% | 2.1% | ||
| Q3 24 | 12.3% | 1.7% | ||
| Q2 24 | 12.5% | 2.9% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | — | ||
| Q3 25 | 6.6% | 0.4% | ||
| Q2 25 | -0.8% | 1.1% | ||
| Q1 25 | 0.7% | 0.5% | ||
| Q4 24 | 6.1% | 0.9% | ||
| Q3 24 | 8.9% | 0.6% | ||
| Q2 24 | 9.4% | 1.5% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | — | ||
| Q3 25 | $1.10 | $0.18 | ||
| Q2 25 | $-0.13 | $0.45 | ||
| Q1 25 | $0.12 | $0.21 | ||
| Q4 24 | $0.96 | $0.33 | ||
| Q3 24 | $1.40 | $0.23 | ||
| Q2 24 | $1.41 | $0.66 |
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 | $7.5M |
| Total DebtLower is stronger | $232.3M | $240.9M |
| Stockholders' EquityBook value | $511.8M | $579.1M |
| Total Assets | $1.1B | $1.1B |
| Debt / EquityLower = less leverage | 0.45× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | — | ||
| Q3 25 | $39.5M | $7.5M | ||
| Q2 25 | $32.8M | $14.8M | ||
| Q1 25 | $41.4M | $13.3M | ||
| Q4 24 | $43.9M | $11.9M | ||
| Q3 24 | $51.0M | $11.1M | ||
| Q2 24 | $30.4M | $9.4M |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $240.9M | ||
| Q2 25 | — | $233.2M | ||
| Q1 25 | $285.0M | $235.4M | ||
| Q4 24 | — | $272.5M | ||
| Q3 24 | — | $197.3M | ||
| Q2 24 | — | $209.2M |
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | — | ||
| Q3 25 | $500.2M | $579.1M | ||
| Q2 25 | $481.8M | $578.2M | ||
| Q1 25 | $487.9M | $574.2M | ||
| Q4 24 | $522.1M | $573.9M | ||
| Q3 24 | $506.4M | $570.6M | ||
| Q2 24 | $480.0M | $569.5M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $917.1M | $1.0B | ||
| Q2 24 | $889.0M | $1.0B |
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | 0.58× | 0.41× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.37× |
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 | $-5.4M |
| Free Cash FlowOCF − Capex | — | $-12.9M |
| FCF MarginFCF / Revenue | — | -2.6% |
| Capex IntensityCapex / Revenue | 7.8% | 1.5% |
| Cash ConversionOCF / Net Profit | 7.37× | -2.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | — | ||
| Q3 25 | $57.1M | $-5.4M | ||
| Q2 25 | $-19.8M | $15.5M | ||
| Q1 25 | $30.0M | $49.4M | ||
| Q4 24 | $31.0M | $14.6M | ||
| Q3 24 | $58.7M | $24.6M | ||
| Q2 24 | $5.5M | $-2.9M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | — | ||
| Q3 25 | $52.4M | $-12.9M | ||
| Q2 25 | $-26.9M | $6.8M | ||
| Q1 25 | $19.1M | $40.6M | ||
| Q4 24 | $22.0M | $7.4M | ||
| Q3 24 | $50.2M | $15.6M | ||
| Q2 24 | $-1.8M | $-11.3M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | — | ||
| Q3 25 | 14.6% | -2.6% | ||
| Q2 25 | -7.8% | 1.4% | ||
| Q1 25 | 5.5% | 8.2% | ||
| Q4 24 | 6.4% | 1.8% | ||
| Q3 24 | 14.7% | 3.3% | ||
| Q2 24 | -0.5% | -2.2% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.3% | 1.5% | ||
| Q2 25 | 2.1% | 1.7% | ||
| Q1 25 | 3.2% | 1.8% | ||
| Q4 24 | 2.6% | 1.7% | ||
| Q3 24 | 2.5% | 1.9% | ||
| Q2 24 | 2.2% | 1.6% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 2.41× | -2.50× | ||
| Q2 25 | — | 2.96× | ||
| Q1 25 | 12.08× | 19.70× | ||
| Q4 24 | 1.48× | 3.75× | ||
| Q3 24 | 1.92× | 9.01× | ||
| Q2 24 | 0.18× | -0.38× |
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% |
ZEUS
| Carbon Flat Products | $268.2M | 55% |
| Specialty Metals Flat Products | $140.9M | 29% |
| Tubular And Pipe Products | $81.6M | 17% |
