MeritValue

APOGEE ENTERPRISES, INC.

APOGdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue$1.31B1$1.44B2$1.42B3$1.36B3$1.4B3
Net income$3.49M4$104.1M5$99.6M6$85.1M6$54.1M6
Operating cash flow$100.5M7$102.7M8$204.2M9$125.2M9$122.5M9
Capital expenditure$21.8M10$45.2M11$43.2M12$35.6M12$27.3M12
Free cash flow (derived)$78.6M7$57.5M8$161M9$89.6M9$95.2M9
Total debt$326M13$339.7M14$124M15$570M16$464.6M16
Cash & equivalents$37.6M17$19.9M18$37.2M19$41.4M20$39.5M20
Diluted shares25.3M22.4M22.1M21.9M21.5M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000046%
of the whole company
Your share of last year’s profit
$25.16
Your share of its debt
$215.9
Your share of free cash flow
$44.22
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$78.63
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth6.6%
  • fcfBase$95.2M
DCF · Growth Exit 5Y
$66.22
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth6.6%
  • fcfBase$95.2M
Earnings Power Value
$41.65
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$85.1M
  • growthAssumed0.0%
Graham Number
$36.72
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years6.6%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $66.22

Default growth 6.6%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2022-02-26 · accession 0000006845-24-000088 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2023-02-25 · accession 0000006845-25-000049 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2024-03-02 · accession 0000006845-26-000023 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2022-02-26 · accession 0000006845-24-000088 (NetIncomeLoss)
  5. 10-K · period ending 2023-02-25 · accession 0000006845-25-000049 (NetIncomeLoss)
  6. 10-K · period ending 2024-03-02 · accession 0000006845-26-000023 (NetIncomeLoss)
  7. 10-K · period ending 2022-02-26 · accession 0000006845-24-000088 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-02-25 · accession 0000006845-25-000049 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-03-02 · accession 0000006845-26-000023 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-02-26 · accession 0000006845-24-000088 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2023-02-25 · accession 0000006845-25-000049 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2024-03-02 · accession 0000006845-26-000023 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2022-02-26 · accession 0000006845-23-000006 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2023-02-25 · accession 0000006845-24-000088 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2024-03-02 · accession 0000006845-25-000049 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2025-03-01 · accession 0000006845-26-000023 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2022-02-26 · accession 0000006845-23-000006 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-02-25 · accession 0000006845-24-000088 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2024-03-02 · accession 0000006845-25-000049 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2025-03-01 · accession 0000006845-26-000023 (CashAndCashEquivalentsAtCarryingValue)