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Azz Inc Financials

AZZ
Source SEC Filings (10-K/10-Q) Updated Nov 30, 2025 Currency USD FYE February

This page shows Azz Inc (AZZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 49 / 100
Financial Profile 49/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
56

Azz Inc has an operating margin of 15.0%, meaning the company retains $15 of operating profit per $100 of revenue. This results in a moderate score of 56/100, indicating healthy but not exceptional operating efficiency. This is up from 14.4% the prior year.

Growth
38

Azz Inc's revenue grew a modest 2.6% year-over-year to $1.6B. This slow but positive growth earns a score of 38/100.

Leverage
85

Azz Inc carries a low D/E ratio of 0.82, meaning only $0.82 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
30

Azz Inc's current ratio of 1.70 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
46

Azz Inc has a free cash flow margin of 8.5%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
38

Azz Inc's ROE of 12.3% shows moderate profitability relative to equity, earning a score of 38/100. This is down from 14.5% the prior year.

Altman Z-Score Safe
3.42

Azz Inc scores 3.42, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.7B) relative to total liabilities ($1.2B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong
7/9

Azz Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.94x

For every $1 of reported earnings, Azz Inc generates $1.94 in operating cash flow ($249.9M OCF vs $128.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
2.9x

Azz Inc earns $2.9 in operating income for every $1 of interest expense ($236.4M vs $81.3M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$1.6B
YoY+2.6%
5Y CAGR+8.2%
10Y CAGR+6.8%

Azz Inc generated $1.6B in revenue in fiscal year 2025. This represents an increase of 2.6% from the prior year.

EBITDA
$318.6M
YoY+5.8%
5Y CAGR+19.7%
10Y CAGR+7.5%

Azz Inc's EBITDA was $318.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.8% from the prior year.

Net Income
$128.8M
YoY+26.8%
5Y CAGR+21.7%
10Y CAGR+7.0%

Azz Inc reported $128.8M in net income in fiscal year 2025. This represents an increase of 26.8% from the prior year.

EPS (Diluted)
$1.79
YoY-48.3%
5Y CAGR-0.5%
10Y CAGR-3.5%

Azz Inc earned $1.79 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 48.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$134.0M
YoY-10.3%
5Y CAGR+4.1%
10Y CAGR+4.2%

Azz Inc generated $134.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 10.3% from the prior year.

Cash & Debt
$1.5M
YoY-65.8%
5Y CAGR-47.3%
10Y CAGR-23.8%

Azz Inc held $1.5M in cash against $852.4M in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.68
YoY+0.0%
5Y CAGR+0.0%

Azz Inc paid $0.68 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding
30M
YoY+19.2%
5Y CAGR+2.7%
10Y CAGR+1.5%

Azz Inc had 30M shares outstanding in fiscal year 2025. This represents an increase of 19.2% from the prior year.

Margins & Returns

Gross Margin
24.3%
YoY+0.6pp
5Y CAGR+1.9pp
10Y CAGR-1.0pp

Azz Inc's gross margin was 24.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the prior year.

Operating Margin
15.0%
YoY+0.6pp
5Y CAGR+7.5pp
10Y CAGR+1.8pp

Azz Inc's operating margin was 15.0% in fiscal year 2025, reflecting core business profitability. This is up 0.6 percentage points from the prior year.

Net Margin
8.2%
YoY+1.6pp
5Y CAGR+3.6pp
10Y CAGR+0.2pp

Azz Inc's net profit margin was 8.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.6 percentage points from the prior year.

Return on Equity
12.3%
YoY-2.2pp
5Y CAGR+4.7pp
10Y CAGR-3.1pp

Azz Inc's ROE was 12.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.2 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$115.9M
YoY+21.8%
5Y CAGR+28.9%
10Y CAGR+14.7%

Azz Inc invested $115.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 21.8% from the prior year.

AZZ Income Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Revenue $425.7M+2.0% $417.3M-1.1% $422.0M+19.9% $351.9M-12.8% $403.7M-1.3% $409.0M-1.0% $413.2M-73.1% $1.5B
Cost of Revenue $323.8M+2.5% $316.0M-0.6% $317.8M+16.4% $273.2M-10.7% $305.9M+0.1% $305.5M-1.6% $310.5M-73.6% $1.2B
Gross Profit $101.9M+0.6% $101.3M-2.7% $104.1M+32.3% $78.7M-19.5% $97.8M-5.5% $103.5M+0.8% $102.7M-71.8% $363.5M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $32.5M-1.1% $32.8M-5.1% $34.6M-9.7% $38.3M-2.4% $39.2M+9.4% $35.9M+9.0% $32.9M-76.8% $141.9M
Operating Income $69.5M+1.5% $68.5M-1.6% $69.5M+72.0% $40.4M-30.9% $58.5M-13.5% $67.6M-3.0% $69.7M-68.5% $221.6M
Interest Expense $12.2M-10.7% $13.7M-26.4% $18.6M+6.8% $17.4M-9.6% $19.2M-12.3% $21.9M-3.8% $22.8M-78.7% $107.1M
Income Tax $14.5M-42.0% $25.0M-54.5% $54.9M+797.2% $6.1M-49.5% $12.1M-0.8% $12.2M+7.1% $11.4M-60.0% $28.5M
Net Income $41.1M-54.0% $89.3M-47.7% $170.9M+745.7% $20.2M-39.9% $33.6M-5.1% $35.4M-10.6% $39.6M N/A
EPS (Diluted) $1.36-53.9% $2.95-47.9% $5.66 N/A $1.12-5.1% $1.18+185.5% $-1.38 N/A

AZZ Balance Sheet

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Total Assets $2.2B+0.2% $2.2B+3.1% $2.2B-3.0% $2.2B-0.8% $2.2B+0.2% $2.2B+0.2% $2.2B+1.8% $2.2B
Current Assets $400.8M+2.9% $389.5M-4.5% $407.9M+8.7% $375.4M-4.8% $394.4M-1.7% $401.2M+1.2% $396.3M+8.0% $367.0M
Cash & Equivalents $623K-30.5% $897K-70.5% $3.0M+104.5% $1.5M+0.3% $1.5M-31.0% $2.2M-79.6% $10.5M+142.5% $4.3M
Inventory $107.5M-0.9% $108.5M-2.1% $110.8M-1.4% $112.3M-2.1% $114.7M-0.5% $115.2M+1.1% $114.0M-3.1% $117.7M
Accounts Receivable $148.3M+4.4% $142.0M-7.5% $153.5M+13.6% $135.1M-3.4% $139.8M-8.7% $153.1M+6.0% $144.4M+1.5% $142.2M
Goodwill $714.0M-0.3% $715.9M+1.6% $704.9M+0.1% $703.9M-0.1% $704.6M-0.2% $705.7M+0.1% $705.2M0.0% $705.5M
Total Liabilities $911.7M-1.2% $923.0M-2.3% $944.9M-20.0% $1.2B-2.7% $1.2B-2.1% $1.2B-2.2% $1.3B+0.6% $1.3B
Current Liabilities $242.0M+7.6% $224.9M-16.7% $270.1M+22.2% $221.0M-0.6% $222.3M+2.4% $217.1M-3.0% $223.9M+15.2% $194.3M
Long-Term Debt $534.7M-5.7% $566.9M-0.5% $569.8M-33.1% $852.4M-3.1% $879.5M-3.6% $912.6M-1.9% $929.8M-2.4% $952.7M
Total Equity $1.3B+1.2% $1.3B+7.3% $1.2B+16.1% $1.0B+1.5% $1.0B+3.0% $999.8M+3.4% $967.2M+38.0% $700.8M
Retained Earnings $873.6M+1.8% $858.3M+10.8% $775.0M+27.2% $609.2M+2.5% $594.0M+5.0% $565.5M+5.7% $535.2M-7.1% $576.2M

AZZ Cash Flow Statement

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Operating Cash Flow $79.7M+36.5% $58.4M-81.5% $314.8M+389.5% $64.3M-2.8% $66.2M+39.3% $47.5M-34.0% $71.9M+13.2% $63.5M
Capital Expenditures $18.5M-3.8% $19.3M-7.7% $20.9M-30.2% $29.9M+13.2% $26.4M-17.6% $32.1M+17.2% $27.4M-2.9% $28.2M
Free Cash Flow $61.2M+56.4% $39.1M-86.7% $293.9M+755.0% $34.4M-13.5% $39.7M+158.3% $15.4M-65.5% $44.5M+26.1% $35.3M
Investing Cash Flow -$18.5M+62.5% -$49.4M-188.3% -$17.1M N/A -$26.4M+15.9% -$31.4M-14.5% -$27.4M N/A
Financing Cash Flow -$61.7M-455.9% -$11.1M+96.2% -$295.5M N/A -$41.2M-70.0% -$24.2M+37.2% -$38.5M N/A
Dividends Paid $6.0M-0.2% $6.0M+18.2% $5.1M0.0% $5.1M+0.1% $5.1M+0.1% $5.1M-35.5% $7.9M0.0% $7.9M
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

AZZ Financial Ratios

Metric Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24
Gross Margin 23.9%-0.3pp 24.3%-0.4pp 24.7%+2.3pp 22.4%-1.8pp 24.2%-1.1pp 25.3%+0.5pp 24.9%+1.2pp 23.6%
Operating Margin 16.3%-0.1pp 16.4%-0.1pp 16.5%+5.0pp 11.5%-3.0pp 14.5%-2.0pp 16.5%-0.3pp 16.9%+2.5pp 14.4%
Net Margin 9.7%-11.8pp 21.4%-19.1pp 40.5%+34.8pp 5.7%-2.6pp 8.3%-0.3pp 8.7%-0.9pp 9.6% N/A
Return on Equity 3.1%-3.7pp 6.9%-7.2pp 14.1%+12.1pp 1.9%-1.3pp 3.3%-0.3pp 3.5%-0.5pp 4.1% N/A
Return on Assets 1.8%-2.2pp 4.0%-3.9pp 7.9%+7.0pp 0.9%-0.6pp 1.5%-0.1pp 1.6%-0.2pp 1.8% N/A
Current Ratio 1.66-0.1 1.73+0.2 1.51-0.2 1.70-0.1 1.77-0.1 1.85+0.1 1.77-0.1 1.89
Debt-to-Equity 0.41-0.0 0.43-0.0 0.47-0.3 0.82-0.0 0.85-0.1 0.91-0.0 0.96-0.4 1.36
FCF Margin 14.4%+5.0pp 9.4%-60.3pp 69.7%+59.9pp 9.8%-0.1pp 9.8%+6.1pp 3.8%-7.0pp 10.8%+8.5pp 2.3%

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Frequently Asked Questions

Azz Inc (AZZ) reported $1.6B in total revenue for fiscal year 2025. This represents a 2.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Azz Inc (AZZ) revenue grew by 2.6% year-over-year, from $1.5B to $1.6B in fiscal year 2025.

Yes, Azz Inc (AZZ) reported a net income of $128.8M in fiscal year 2025, with a net profit margin of 8.2%.

Azz Inc (AZZ) reported diluted earnings per share of $1.79 for fiscal year 2025. This represents a -48.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Azz Inc (AZZ) had EBITDA of $318.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Azz Inc (AZZ) had $1.5M in cash and equivalents against $852.4M in long-term debt.

Azz Inc (AZZ) had a gross margin of 24.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Azz Inc (AZZ) had an operating margin of 15.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Azz Inc (AZZ) had a net profit margin of 8.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Azz Inc (AZZ) paid $0.68 per share in dividends during fiscal year 2025.

Azz Inc (AZZ) has a return on equity of 12.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Azz Inc (AZZ) generated $134.0M in free cash flow during fiscal year 2025. This represents a -10.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Azz Inc (AZZ) generated $249.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Azz Inc (AZZ) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Azz Inc (AZZ) invested $115.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Azz Inc (AZZ) had 30M shares outstanding as of fiscal year 2025.

Azz Inc (AZZ) had a current ratio of 1.70 as of fiscal year 2025, which is generally considered healthy.

Azz Inc (AZZ) had a debt-to-equity ratio of 0.82 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Azz Inc (AZZ) had a return on assets of 5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Azz Inc (AZZ) has an Altman Z-Score of 3.42, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Azz Inc (AZZ) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Azz Inc (AZZ) has an earnings quality ratio of 1.94x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Azz Inc (AZZ) has an interest coverage ratio of 2.9x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Azz Inc (AZZ) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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