NYSE : AZZ
AZZ Inc. — Financial statements
Industrials · Specialty Business Services · United States
Last price 134.44 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.02B
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Financial statements
AZZ Inc. (AZZ) reported revenue of 1.75B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year March - February; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 1.75B | 1.65B | 1.58B | 1.54B | 1.32B | 525.60M |
| Cost of Revenue | 1.33B | 1.26B | 1.20B | 1.17B | 1.03B | 379.44M |
| Gross Profit | 420.00M | 394.95M | 382.68M | 363.46M | 295.94M | 146.15M |
| Selling, General & Admin | 102.92M | 99.62M | 113.72M | 104.17M | 97.13M | 65.31M |
| Amortization of Goodwill & Intangibles | 23.08M | 23.08M | 23.11M | 23.96M | 22.61M | |
| Operating Expenses | 127.62M | 124.33M | 139.07M | 130.56M | 122.31M | 66.93M |
| Operating Income | 292.38M | 270.63M | 243.60M | 232.90M | 173.64M | 79.22M |
| Interest Expense | -45.49M | -55.65M | -81.28M | -107.06M | -88.80M | -6.36M |
| Earnings From Equity Investments | -15.84M | 209.73M | 16.16M | 15.41M | 2.60M | |
| Other Non Operating Income (Expenses) | -133.00K | 1.61M | -562.00K | 161.00K | 1.24M | 175.00K |
| EBT Excluding Unusual Items | 230.91M | 426.33M | 177.92M | 141.40M | 88.67M | 73.03M |
| Merger & Restructuring Charges | -2.77M | -3.83M | ||||
| Legal Settlements | -3.50M | -11.30M | ||||
| Other Unusual Items | -2.19M | -2.19M | -3.74M | |||
| Pretax Income | 225.96M | 420.31M | 170.68M | 130.10M | 88.67M | 73.03M |
| Income Tax Expense | 58.49M | 103.06M | 41.85M | 28.50M | 22.34M | 23.21M |
| Earnings From Continuing Operations | 167.46M | 317.26M | 128.83M | 101.61M | 66.34M | 49.82M |
| Earnings From Discontinued Operations | -119.31M | 34.20M | ||||
| Net Income | 167.46M | 317.26M | 128.83M | 101.61M | -52.97M | 84.02M |
| Preferred Dividends & Other Adjustments | 76.40M | 14.40M | 8.24M | |||
| Net Income to Common | 167.46M | 317.26M | 52.44M | 87.21M | -61.21M | 84.02M |
| Shares Outstanding (Basic) | 29.94M | 29.95M | 29.09M | 25.04M | 24.83M | 24.86M |
| Shares Outstanding (Diluted) | 30.16M | 30.21M | 29.34M | 25.21M | 24.98M | 25.08M |
| EPS (Basic) | 5.59 | 10.59 | 1.80 | 3.48 | -2.47 | 3.38 |
| EPS (Diluted) | 5.54 | 10.50 | 1.79 | 3.46 | -2.45 | 3.35 |
| Free Cash Flow | 214.45M | 444.67M | 134.03M | 149.35M | 13.04M | 62.42M |
| Free Cash Flow Per Share | 7.11 | 14.72 | 4.57 | 5.92 | 0.52 | 2.49 |
| Dividend Per Share | 0.84 | 0.77 | 0.68 | 0.68 | 0.68 | 0.68 |
| Gross Margin | 24.05% | 23.94% | 24.25% | 23.64% | 22.36% | 27.81% |
| Operating Margin | 16.74% | 16.40% | 15.44% | 15.15% | 13.12% | 15.07% |
| Profit Margin | 9.59% | 19.23% | 3.32% | 5.67% | -4.62% | 15.99% |
| Free Cash Flow Margin | 12.28% | 26.95% | 8.49% | 9.71% | 0.98% | 11.88% |
| EBITDA | 385.92M | 360.69M | 325.81M | 312.32M | 248.23M | 111.30M |
| EBITDA Margin | 22.10% | 21.86% | 20.65% | 20.31% | 18.75% | 21.18% |
| D&A For EBITDA | 93.54M | 90.06M | 82.20M | 79.42M | 74.59M | 32.08M |
| EBIT | 292.38M | 270.63M | 243.60M | 232.90M | 173.64M | 79.22M |
| EBIT Margin | 16.74% | 16.40% | 15.44% | 15.15% | 13.12% | 15.07% |
| Effective Tax Rate | 25.89% | 24.52% | 24.52% | 21.90% | 25.19% | 31.79% |
Balance sheet
Fiscal year March - February; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.95M | 705.00K | 1.49M | 4.35M | 2.82M | 12.08M |
| Cash & Short-Term Investments | 1.95M | 705.00K | 1.49M | 4.35M | 2.82M | 12.08M |
| Accounts Receivable | 286.41M | 255.43M | 241.66M | 221.58M | 235.72M | 87.97M |
| Other Receivables | 20.08M | 18.99M | 12.93M | 15.60M | 26.97M | |
| Receivables | 306.49M | 274.42M | 254.59M | 237.18M | 262.69M | 87.97M |
| Inventory | 134.02M | 113.41M | 112.31M | 117.66M | 143.92M | 83.00M |
| Prepaid Expenses | 12.93M | 6.83M | 7.05M | 7.81M | 7.99M | 1.58M |
| Other Current Assets | 201.90M | |||||
| Total Current Assets | 455.39M | 395.37M | 375.44M | 367.00M | 417.42M | 386.53M |
| Property, Plant & Equipment | 707.88M | 668.87M | 618.89M | 565.39M | 524.89M | 207.31M |
| Long-Term Investments | 12.11M | 19.96M | 99.38M | 101.58M | 88.69M | |
| Goodwill | 740.21M | 714.75M | 703.86M | 705.47M | 702.51M | 190.39M |
| Other Intangible Assets | 417.98M | 409.74M | 421.85M | 445.44M | 469.39M | 35.32M |
| Long-Term Deferred Tax Assets | 1.24M | 1.38M | 3.62M | 5.61M | 12.47M | 3.46M |
| Other Long-Term Assets | 3.15M | 3.40M | 4.05M | 5.03M | 6.11M | 310.01M |
| Total Assets | 2.34B | 2.21B | 2.23B | 2.20B | 2.22B | 1.13B |
| Accounts Payable | 125.99M | 114.59M | 106.47M | 88.00M | 84.26M | 24.84M |
| Accrued Expenses | 115.10M | 103.81M | 100.78M | 94.48M | 93.46M | 30.29M |
| Current Portion of Leases | 10.06M | 8.68M | 7.75M | 6.66M | 6.40M | 3.29M |
| Current Income Taxes Payable | 2.27M | 387.00K | 602.00K | 172.00K | 272.00K | 3.83M |
| Current Unearned Revenue | 600.00K | |||||
| Other Current Liabilities | 4.80M | 5.39M | 4.99M | 2.85M | 88.28M | |
| Total Current Liabilities | 254.02M | 232.27M | 220.99M | 194.31M | 187.24M | 150.53M |
| Long-Term Debt | 468.47M | 479.58M | 852.37M | 952.74M | 1.06B | 226.48M |
| Long-Term Leases | 81.86M | 51.97M | 19.01M | 17.83M | 20.70M | 11.40M |
| Pension & Post-Retirement Benefits | 12.80M | 15.07M | 24.59M | 31.15M | 31.29M | |
| Long-Term Deferred Tax Liabilities | 82.32M | 73.92M | 42.82M | 38.57M | 40.54M | 47.67M |
| Other Long-Term Liabilities | 23.42M | 23.62M | 21.83M | 26.42M | 30.13M | 29.57M |
| Total Liabilities | 922.88M | 876.44M | 1.18B | 1.26B | 1.37B | 465.66M |
| Common Stock | 29.92M | 29.88M | 29.91M | 25.10M | 24.91M | 24.69M |
| Additional Paid-In Capital | 410.77M | 431.15M | 418.00M | 103.33M | 93.36M | 85.85M |
| Retained Earnings | 980.81M | 883.54M | 609.16M | 576.23M | 506.04M | 584.15M |
| Comprehensive Income & Other | -6.43M | -7.55M | -11.58M | -3.89M | -4.57M | -27.32M |
| Total Common Equity | 1.42B | 1.34B | 1.05B | 700.77M | 619.74M | 667.37M |
| Shareholders' Equity | 1.42B | 1.34B | 1.05B | 934.49M | 853.46M | 667.37M |
| Total Liabilities & Equity | 2.34B | 2.21B | 2.23B | 2.20B | 2.22B | 1.13B |
| Total Debt | 560.38M | 540.23M | 879.13M | 977.23M | 1.09B | 241.18M |
| Net Cash (Debt) | -558.43M | -539.53M | -877.64M | -972.88M | -1.08B | -229.09M |
| Net Cash Per Share | -18.51 | -17.86 | -29.91 | -38.59 | -43.33 | -9.14 |
| Filing Date Shares Outstanding | 29.92M | 29.88M | 29.91M | 25.10M | 24.91M | 24.69M |
| Total Common Shares Outstanding | 29.92M | 29.88M | 29.91M | 25.10M | 24.91M | 24.69M |
| Working Capital | 201.38M | 163.09M | 154.45M | 172.69M | 230.18M | 236.00M |
| Book Value Per Share | 47.29 | 44.75 | 34.95 | 27.92 | 24.88 | 27.03 |
| Tangible Book Value | 256.89M | 212.54M | -80.22M | -450.13M | -552.17M | 441.65M |
| Tangible Book Value Per Share | 8.58 | 7.11 | -2.68 | -17.93 | -22.16 | 17.89 |
| Land | 55.65M | 52.03M | 52.32M | 52.32M | 21.83M | |
| Buildings | 371.69M | 313.04M | 301.19M | 291.25M | 154.98M | |
| Machinery | 570.36M | 456.93M | 441.34M | 423.45M | 259.45M | |
| Construction In Progress | 45.58M | 153.15M | 86.06M | 24.68M | 8.54M |
Cash flow statement
Fiscal year March - February; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 167.46M | 317.26M | 128.83M | 101.61M | -52.97M | 84.02M |
| Depreciation & Amortization | 93.54M | 90.06M | 82.20M | 79.42M | 74.59M | 32.08M |
| Other Amortization | 13.59M | 13.06M | 12.51M | 12.17M | 11.27M | 455.00K |
| Loss (Gain) From Sale of Assets | -1.88M | -4.40M | -368.00K | 61.00K | -1.03M | 666.00K |
| Asset Writedown & Restructuring Costs | 3.74M | 135.00K | ||||
| Loss (Gain) on Equity Investments | 15.84M | 63.49M | -3.60M | -12.29M | -2.60M | |
| Stock-Based Compensation | 14.06M | 14.83M | 13.26M | 9.51M | 8.38M | 9.45M |
| Provision & Write-off of Bad Debts | -52.00K | -78.00K | 5.06M | -67.00K | -58.00K | |
| Other Operating Activities | 19.65M | 32.83M | 7.97M | 4.68M | 126.32M | -30.26M |
| Change in Accounts Receivable | -36.26M | -12.06M | -25.39M | 11.78M | -16.96M | -15.68M |
| Change in Inventory | -23.41M | 214.00K | 5.04M | 26.28M | -17.20M | -18.77M |
| Change in Accounts Payable | 13.36M | 11.12M | 23.48M | -801.00K | -14.04M | 5.72M |
| Change in Income Taxes | -5.59M | -215.00K | 430.00K | -100.00K | -3.25M | 4.38M |
| Change in Other Net Operating Assets | 21.96M | -4.41M | 474.00K | 12.21M | -21.16M | -11.46M |
| Operating Cash Flow | 292.27M | 525.45M | 249.91M | 244.47M | 70.16M | 86.01M |
| Capital Expenditures | -77.82M | -80.78M | -115.88M | -95.12M | -57.12M | -23.59M |
| Sale of Property, Plant & Equipment | 2.08M | 5.83M | 886.00K | 55.00K | 4.12M | |
| Cash Acquisitions | -57.50M | -30.14M | -1.28B | -61.22M | ||
| Divestitures | 106.81M | |||||
| Investment in Securities | 29.36M | 13.61M | ||||
| Other Investing Activities | -1.34M | -2.03M | ||||
| Investing Cash Flow | -103.88M | -91.48M | -115.00M | -95.06M | -1.23B | -86.83M |
| Long-Term Debt Issued | 876.00M | 326.00M | 249.00M | 1.92B | 296.00M | |
| Long-Term Debt Repaid | -1.26B | -436.99M | -364.42M | -781.75M | -248.00M | |
| Net Debt Issued (Repaid) | -113.18M | -387.73M | -110.99M | -115.42M | 1.14B | 48.00M |
| Issuance of Common Stock | 3.69M | 3.59M | 311.46M | 2.36M | 2.37M | 2.79M |
| Repurchase of Common Stock | -51.24M | -25.10M | -5.24M | -1.71M | -3.00M | -33.00M |
| Preferred Dividends Paid | -14.40M | |||||
| Common Dividends Paid | -25.17M | -23.07M | -17.02M | -16.87M | ||
| Dividends Paid | -25.17M | -23.07M | -23.11M | -31.42M | -22.74M | -16.87M |
| Other Financing Activities | -1.58M | -1.80M | -1.90M | -1.70M | 32.45M | |
| Financing Cash Flow | -187.49M | -434.12M | -138.69M | -147.89M | 1.15B | 912.00K |
| Foreign Exchange Rate Adjustments | 161.00K | -625.00K | 922.00K | 13.00K | 505.00K | 158.00K |
| Net Cash Flow | 1.06M | -783.00K | -2.86M | 1.53M | -12.26M | 245.00K |
| Free Cash Flow | 214.45M | 444.67M | 134.03M | 149.35M | 13.04M | 62.42M |
| Free Cash Flow Margin | 12.28% | 26.95% | 8.49% | 9.71% | 0.98% | 11.88% |
| Free Cash Flow Per Share | 7.11 | 14.72 | 4.57 | 5.92 | 0.52 | 2.49 |
| Levered Free Cash Flow | 160.81M | 161.18M | 107.84M | 143.39M | 83.60M | 16.93M |
| Unlevered Free Cash Flow | 175.65M | 182.90M | 146.13M | 198.13M | 127.83M | 20.45M |
| Cash Interest Paid | 32.60M | 43.05M | 75.86M | 97.81M | 77.99M | 6.06M |
| Cash Income Tax Paid | 47.52M | 75.95M | 29.79M | 19.31M | 24.49M | 31.66M |
| Change in Working Capital | -29.94M | -5.34M | 4.04M | 49.37M | -72.61M | -35.81M |
Ratios
Fiscal year March - February; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.02B | 4.06B | 2.87B | 1.83B | 1.01B | 1.22B |
| Enterprise Value | 4.58B | 4.63B | 3.78B | 2.82B | 2.06B | 1.43B |
| Last Close Price | 134.44 | 135.30 | 94.90 | 71.27 | 39.22 | 46.70 |
| PE Ratio | 24.26 | 12.80 | 54.77 | 20.95 | 14.47 | |
| Forward PE | 18.12 | 20.66 | 17.23 | 16.82 | 11.08 | 14.66 |
| PS Ratio | 2.30 | 2.46 | 1.82 | 1.19 | 0.77 | 2.31 |
| PB Ratio | 2.84 | 3.04 | 2.75 | 1.96 | 1.19 | 1.82 |
| P/TBV Ratio | 15.66 | 19.10 | 2.75 | |||
| P/FCF Ratio | 18.76 | 9.13 | 21.43 | 12.24 | 77.63 | 19.48 |
| P/OCF Ratio | 13.76 | 7.73 | 11.49 | 7.47 | 14.43 | 14.13 |
| PEG Ratio | 1.73 | 1.82 | 1.32 | 1.60 | 1.05 | 1.40 |
| EV/Sales Ratio | 2.62 | 2.81 | 2.39 | 1.84 | 1.55 | 2.72 |
| EV/EBITDA Ratio | 11.87 | 12.83 | 11.59 | 9.04 | 8.29 | 12.86 |
| EV/EBIT Ratio | 15.67 | 17.10 | 15.50 | 12.12 | 11.85 | 18.07 |
| EV/FCF Ratio | 21.36 | 10.41 | 28.18 | 18.91 | 157.85 | 22.93 |
| Debt / Equity Ratio | 0.40 | 0.40 | 0.84 | 1.05 | 1.27 | 0.36 |
| Debt / EBITDA Ratio | 1.39 | 1.44 | 2.59 | 3.01 | 4.15 | 2.02 |
| Debt / FCF Ratio | 2.61 | 1.22 | 6.56 | 6.54 | 83.25 | 3.86 |
| Net Debt / Equity Ratio | 0.40 | 0.40 | 0.84 | 1.04 | 1.27 | 0.34 |
| Net Debt / EBITDA Ratio | 1.45 | 1.50 | 2.69 | 3.12 | 4.36 | 2.06 |
| Net Debt / FCF Ratio | 2.60 | 1.21 | 6.55 | 6.51 | 83.04 | 3.67 |
| Asset Turnover | 0.77 | 0.74 | 0.71 | 0.70 | 0.79 | 0.49 |
| Inventory Turnover | 10.94 | 11.12 | 10.39 | 8.98 | 9.06 | 4.29 |
| Quick Ratio | 1.21 | 1.18 | 1.16 | 1.24 | 1.42 | 0.67 |
| Current Ratio | 1.79 | 1.70 | 1.70 | 1.89 | 2.23 | 2.57 |
| Return on Equity (ROE) | 12.32% | 26.63% | 13.01% | 11.37% | 8.72% | 7.72% |
| Return on Assets (ROA) | 8.01% | 7.62% | 6.88% | 6.59% | 6.47% | 4.64% |
| Return on Invested Capital (ROIC) | 11.14% | 10.75% | 9.60% | 9.46% | 9.17% | 6.27% |
| Return on Capital Employed (ROCE) | 14.00% | 13.70% | 12.10% | 11.60% | 8.50% | 8.10% |
| Earnings Yield | 4.12% | 7.81% | 4.49% | 5.56% | -5.24% | 6.91% |
| FCF Yield | 5.33% | 10.95% | 4.67% | 8.17% | 1.29% | 5.13% |
| Dividend Yield | 0.71% | 0.57% | 0.71% | 0.93% | 1.67% | 1.38% |
| Payout Ratio | 15.88% | 7.27% | 17.94% | 30.92% | 20.08% | |
| Buyback Yield / Dilution | 0.52% | -2.96% | -16.40% | -0.92% | 0.40% | 3.72% |
| Total Shareholder Return | 1.23% | -2.39% | -15.70% | 0.01% | 2.07% | 5.10% |