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APOGEE ENTERPRISES, INC.（APOG）与Merchants Bancorp（MBIN）财务数据对比。点击上方公司名可切换其他公司
APOGEE ENTERPRISES, INC.的季度营收约是Merchants Bancorp的2.0倍（$348.6M vs $175.2M），Merchants Bancorp净利率更高（38.6% vs 4.7%，领先33.9%），过去两年Merchants Bancorp的营收复合增速更高（4.8% vs -1.9%）
Apogee Enterprises是一家美国音频设备制造商，主营音频接口、模数与数模转换器、USB及iOS麦克风，同时还开发音频制作相关软件，产品广泛服务于专业录音、音乐创作等音频领域，在全球音频行业拥有较高的认可度。
Ameris Bancorp是总部位于美国佐治亚州亚特兰大的银行控股企业，旗下设有Ameris Bank子公司，在佐治亚州、阿拉巴马州、佛罗里达州、北卡罗来纳州、南卡罗来纳州运营全服务网点，同时在上述五州及弗吉尼亚州、马里兰州、田纳西州设立仅办理抵押贷款业务的网点，为个人和企业客户提供线上及移动端银行服务。
APOG vs MBIN — 直观对比
营收规模更大
APOG
是对方的2.0倍
$175.2M
净利率更高
MBIN
高出33.9%
4.7%
两年增速更快
MBIN
近两年复合增速
-1.9%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $348.6M | $175.2M |
| 净利润 | $16.5M | $67.7M |
| 毛利率 | 23.8% | — |
| 营业利润率 | 7.1% | — |
| 净利率 | 4.7% | 38.6% |
| 营收同比 | 2.1% | — |
| 净利润同比 | -21.2% | 16.3% |
| 每股收益（稀释后） | $0.77 | $1.25 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收APOGMBIN
| Q1 26 | — | $175.2M | ||
| Q4 25 | $348.6M | $185.3M | ||
| Q3 25 | $358.2M | $171.1M | ||
| Q2 25 | $346.6M | $179.2M | ||
| Q1 25 | $345.7M | $145.9M | ||
| Q4 24 | $341.3M | $193.8M | ||
| Q3 24 | $342.4M | $149.6M | ||
| Q2 24 | $331.5M | $159.5M |
净利润APOGMBIN
| Q1 26 | — | $67.7M | ||
| Q4 25 | $16.5M | — | ||
| Q3 25 | $23.6M | $54.7M | ||
| Q2 25 | $-2.7M | $38.0M | ||
| Q1 25 | $2.5M | $58.2M | ||
| Q4 24 | $21.0M | — | ||
| Q3 24 | $30.6M | $61.3M | ||
| Q2 24 | $31.0M | $76.4M |
毛利率APOGMBIN
| Q1 26 | — | — | ||
| 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% | — |
营业利润率APOGMBIN
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | 39.9% | ||
| Q3 25 | 7.5% | 37.8% | ||
| Q2 25 | 2.0% | 27.3% | ||
| Q1 25 | 1.8% | 52.4% | ||
| Q4 24 | 8.4% | 66.0% | ||
| Q3 24 | 12.3% | 54.4% | ||
| Q2 24 | 12.5% | 62.2% |
净利率APOGMBIN
| Q1 26 | — | 38.6% | ||
| Q4 25 | 4.7% | — | ||
| Q3 25 | 6.6% | 32.0% | ||
| Q2 25 | -0.8% | 21.2% | ||
| Q1 25 | 0.7% | 39.9% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 8.9% | 41.0% | ||
| Q2 24 | 9.4% | 47.9% |
每股收益（稀释后）APOGMBIN
| Q1 26 | — | $1.25 | ||
| Q4 25 | $0.77 | $1.28 | ||
| Q3 25 | $1.10 | $0.97 | ||
| Q2 25 | $-0.13 | $0.60 | ||
| Q1 25 | $0.12 | $0.93 | ||
| Q4 24 | $0.96 | $1.84 | ||
| Q3 24 | $1.40 | $1.17 | ||
| Q2 24 | $1.41 | $1.49 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $41.3M | $83.2M |
| 总债务越低越好 | — | $32.0M |
| 股东权益账面价值 | $512.3M | $2.3B |
| 总资产 | $1.1B | $20.3B |
| 负债/权益比越低杠杆越低 | — | 0.01× |
8季度趋势，按日历期对齐
现金及短期投资APOGMBIN
| Q1 26 | — | $83.2M | ||
| 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 | — |
总债务APOGMBIN
| Q1 26 | — | $32.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $285.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APOGMBIN
| Q1 26 | — | $2.3B | ||
| Q4 25 | $512.3M | $2.3B | ||
| Q3 25 | $500.2M | $2.2B | ||
| Q2 25 | $481.8M | $2.2B | ||
| Q1 25 | $487.9M | $2.2B | ||
| Q4 24 | $522.1M | $2.2B | ||
| Q3 24 | $506.4M | $1.9B | ||
| Q2 24 | $480.0M | $1.9B |
总资产APOGMBIN
| Q1 26 | — | $20.3B | ||
| Q4 25 | $1.1B | $19.4B | ||
| Q3 25 | $1.2B | $19.4B | ||
| Q2 25 | $1.2B | $19.1B | ||
| Q1 25 | $1.2B | $18.8B | ||
| Q4 24 | $1.2B | $18.8B | ||
| Q3 24 | $917.1M | $18.7B | ||
| Q2 24 | $889.0M | $18.2B |
负债/权益比APOGMBIN
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $29.3M | — |
| 自由现金流经营现金流 - 资本支出 | $22.9M | — |
| 自由现金流率自由现金流/营收 | 6.6% | — |
| 资本支出强度资本支出/营收 | 1.9% | — |
| 现金转化率经营现金流/净利润 | 1.77× | — |
| 过去12个月自由现金流最近4个季度 | $67.4M | — |
8季度趋势，按日历期对齐
经营现金流APOGMBIN
| Q1 26 | — | — | ||
| Q4 25 | $29.3M | $-341.2M | ||
| Q3 25 | $57.1M | $29.8M | ||
| Q2 25 | $-19.8M | $-121.2M | ||
| Q1 25 | $30.0M | $148.0M | ||
| Q4 24 | $31.0M | $-835.3M | ||
| Q3 24 | $58.7M | $-492.6M | ||
| Q2 24 | $5.5M | $51.1M |
自由现金流APOGMBIN
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $-362.2M | ||
| Q3 25 | $52.4M | $24.0M | ||
| Q2 25 | $-26.9M | $-125.7M | ||
| Q1 25 | $19.1M | $141.2M | ||
| Q4 24 | $22.0M | $-853.7M | ||
| Q3 24 | $50.2M | $-497.2M | ||
| Q2 24 | $-1.8M | $45.8M |
自由现金流率APOGMBIN
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | -195.5% | ||
| Q3 25 | 14.6% | 14.0% | ||
| Q2 25 | -7.8% | -70.1% | ||
| Q1 25 | 5.5% | 96.8% | ||
| Q4 24 | 6.4% | -440.6% | ||
| Q3 24 | 14.7% | -332.4% | ||
| Q2 24 | -0.5% | 28.7% |
资本支出强度APOGMBIN
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 11.3% | ||
| Q3 25 | 1.3% | 3.4% | ||
| Q2 25 | 2.1% | 2.5% | ||
| Q1 25 | 3.2% | 4.7% | ||
| Q4 24 | 2.6% | 9.5% | ||
| Q3 24 | 2.5% | 3.0% | ||
| Q2 24 | 2.2% | 3.3% |
现金转化率APOGMBIN
| Q1 26 | — | — | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 2.41× | 0.54× | ||
| Q2 25 | — | -3.19× | ||
| Q1 25 | 12.08× | 2.54× | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.92× | -8.04× | ||
| Q2 24 | 0.18× | 0.67× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
