Apogee Enterprises Stock Fair Value – APOGEE ENTERPRISES Reports Third Quarter FY2024 Earnings Results
December 27, 2023
🌥️Earnings Overview
On December 21, 2023, APOGEE ENTERPRISES ($NASDAQ:APOG) reported its financial results for the third quarter of FY2024, ending November 30, 2023. Total revenue for the period was USD 339.7 million, a decline of 7.6% compared to the same quarter in the previous year. On a positive note, net income increased 13.5%, reaching USD 27.0 million from the year-ago period.
Share Price
The company’s stock opened at $55.0 and closed at $53.4, up by 3.1% from its previous closing price of 51.8. Furthermore, APOGEE ENTERPRISES has recorded strong year-to-date results, with total net profits for the nine months of FY2024 being double that of the same period a year ago. The company’s success in the third quarter can be attributed to its innovative products and services which have enabled it to capture market share. In particular, the company has made substantial investments in research and development which has resulted in new products entering the market in this quarter. The company’s management has also implemented cost-cutting initiatives which have resulted in improved efficiency and increased profits.
Going forward, APOGEE ENTERPRISES aims to build on its positive performance in the third quarter by introducing new products and services that can drive further growth. The company is also looking to expand its operations into new markets, with plans to open new offices across the globe in the near future. The company’s management team is confident that its strategic investments and initiatives will continue to drive growth in the coming quarters, leading to even better results for its shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Apogee Enterprises. More…
| Total Revenues | Net Income | Net Margin |
| 1.4k | 104.1 | 7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Apogee Enterprises. More…
| Operations | Investing | Financing |
| 180.84 | -42.03 | -139.87 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Apogee Enterprises. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 894.86 | 439.12 | 19.59 |
Key Ratios Snapshot
Some of the financial key ratios for Apogee Enterprises are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.6% | 13.1% | 10.1% |
| FCF Margin | ROE | ROA |
| 9.1% | 20.5% | 9.9% |
Analysis – Apogee Enterprises Stock Fair Value
At GoodWhale, we have conducted an analysis of the financials of APOGEE ENTERPRISES. Our proprietary Valuation Line has determined that the fair value of APOGEE ENTERPRISES share is around $47.9. Currently, APOGEE ENTERPRISES stock is traded at a price of $53.4, indicating that it is being traded at a fair price that is overvalued by 11.4%. More…
Peers
Apogee Enterprises Inc. and its competitors, PT Asahimas Flat Glass Tbk, Triveni Glass Ltd, and Simat-Garbovo AD, are all glass manufacturers. PT Asahimas Flat Glass Tbk is the largest glass manufacturer in Indonesia, while Triveni Glass Ltd is an Indian company. Simat-Garbovo AD is a Bulgarian company.
– PT Asahimas Flat Glass Tbk ($IDX:AMFG)
Asahimas Flat Glass Tbk is a publicly traded company with a market capitalization of 2.52T as of 2022. The company has a return on equity of 11.44%. Asahimas Flat Glass Tbk is a manufacturer of flat glass products. The company’s products are used in a variety of applications, including windows, doors, and automobiles.
– Triveni Glass Ltd ($BSE:502281)
Triveni Glass Ltd, based in Mumbai, India, is a manufacturer of pharmaceutical packaging products. The company has a market cap of 272.58M as of 2022 and a return on equity of 126.71%. Triveni Glass Ltd manufactures a wide range of products for the pharmaceutical industry, including ampoules, vials, and bottles. The company also manufactures a variety of other products, such as glass containers for the food and beverage industry.
Summary
APOGEE ENTERPRISES reported strong financial results in the third quarter of FY2024, ending November 30 2023. Total revenue was USD 339.7 million, a 7.6% decrease compared to the same period the year before. Net income was up 13.5%, at USD 27.0 million, from the same period the year before. This led to a positive reaction from investors, with the stock price moving up the same day.
Analysts point to APOGEE ENTERPRISES’ strong fundamentals and continued growth in the coming months as reasons for optimism. Investors may want to consider adding APOGEE ENTERPRISES to their portfolios, as it could provide good returns in the near future.
