Azz Inc Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Azz Inc has an operating margin of 15.0%, meaning the company retains $15 of operating profit per $100 of revenue. This strong profitability earns a score of 75/100, reflecting efficient cost management and pricing power. This is up from 14.4% the prior year.
Azz Inc's revenue grew a modest 2.6% year-over-year to $1.6B. This slow but positive growth earns a score of 36/100.
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 81/100, indicating a strong balance sheet with room for future borrowing.
Azz Inc's current ratio of 1.70 indicates adequate short-term liquidity, earning a score of 48/100. The company can meet its near-term obligations, though with limited headroom.
Azz Inc has a free cash flow margin of 8.5%, earning a moderate score of 42/100. The company generates positive cash flow after capital investments, but with room for improvement.
Azz Inc's ROE of 12.3% shows moderate profitability relative to equity, earning a score of 49/100. This is down from 14.5% the prior year.
Azz Inc scores 3.65, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($4.2B) relative to total liabilities ($1.2B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
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.
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.
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.
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).
Key Financial Metrics
Azz Inc generated $1.6B in revenue in fiscal year 2025. This represents an increase of 2.6% from the prior year.
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.
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.
Azz Inc reported $128.8M in net income in fiscal year 2025. This represents an increase of 26.8% from the prior year.
Azz Inc earned $1.79 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 48.3% from the prior year.
Azz Inc held $1.5M in cash against $852.4M in long-term debt as of fiscal year 2025.
Azz Inc paid $0.68 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Azz Inc had 30M shares outstanding in fiscal year 2025. This represents an increase of 19.2% from the prior year.
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.
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.
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.
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.
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 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $425.7M+2.0% | $417.3M-1.1% | $422.0M+4.5% | $403.7M-1.3% | $409.0M-1.0% | $413.2M+8.3% | $381.6M-4.2% | $398.5M |
| Cost of Revenue | $323.8M+2.5% | $316.0M-0.6% | $317.8M+3.9% | $305.9M+0.1% | $305.5M-1.6% | $310.5M+5.8% | $293.5M-2.6% | $301.3M |
| Gross Profit | $101.9M+0.6% | $101.3M-2.7% | $104.1M+6.5% | $97.8M-5.5% | $103.5M+0.8% | $102.7M+16.5% | $88.1M-9.4% | $97.2M |
| 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-11.9% | $39.2M+9.4% | $35.9M+9.0% | $32.9M-6.8% | $35.3M-2.5% | $36.2M |
| Operating Income | $69.5M+1.5% | $68.5M-1.6% | $69.5M+18.8% | $58.5M-13.5% | $67.6M-3.0% | $69.7M+32.0% | $52.8M-13.4% | $61.0M |
| Interest Expense | $12.2M-10.7% | $13.7M-26.4% | $18.6M-3.4% | $19.2M-12.3% | $21.9M-3.8% | $22.8M-11.9% | $25.9M-6.9% | $27.8M |
| Income Tax | $14.5M-42.0% | $25.0M-54.5% | $54.9M+353.4% | $12.1M-0.8% | $12.2M+7.1% | $11.4M+29.9% | $8.8M+47.1% | $6.0M |
| Net Income | $41.1M-54.0% | $89.3M-47.7% | $170.9M+408.6% | $33.6M-5.1% | $35.4M-10.6% | $39.6M+47.3% | $26.9M-5.1% | $28.3M |
| EPS (Diluted) | $1.36-53.9% | $2.95-47.9% | $5.66+405.4% | $1.12-5.1% | $1.18+185.5% | $-1.38-250.0% | $0.92-5.2% | $0.97 |
AZZ Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.2B+0.2% | $2.2B+3.1% | $2.2B-3.8% | $2.2B+0.2% | $2.2B+0.2% | $2.2B+1.2% | $2.2B-0.3% | $2.2B |
| Current Assets | $400.8M+2.9% | $389.5M-4.5% | $407.9M+3.4% | $394.4M-1.7% | $401.2M+1.2% | $396.3M+0.9% | $392.7M-4.2% | $409.9M |
| Cash & Equivalents | $623K-30.5% | $897K-70.5% | $3.0M+105.1% | $1.5M-31.0% | $2.2M-79.6% | $10.5M+40.4% | $7.5M+256.2% | $2.1M |
| Inventory | $107.5M-0.9% | $108.5M-2.1% | $110.8M-3.4% | $114.7M-0.5% | $115.2M+1.1% | $114.0M-10.1% | $126.7M+3020.8% | $4.1M |
| Accounts Receivable | $148.3M+4.4% | $142.0M-7.5% | $153.5M+9.8% | $139.8M-8.7% | $153.1M+6.0% | $144.4M+1.4% | $142.5M-22.6% | $184.0M |
| Goodwill | $714.0M-0.3% | $715.9M+1.6% | $704.9M0.0% | $704.6M-0.2% | $705.7M+0.1% | $705.2M0.0% | $705.5M0.0% | $705.5M |
| Total Liabilities | $911.7M-1.2% | $923.0M-2.3% | $944.9M-22.2% | $1.2B-2.1% | $1.2B-2.2% | $1.3B-1.5% | $1.3B-2.2% | $1.3B |
| Current Liabilities | $242.0M+7.6% | $224.9M-16.7% | $270.1M+21.5% | $222.3M+2.4% | $217.1M-3.0% | $223.9M+11.9% | $200.0M-3.1% | $206.3M |
| Long-Term Debt | $534.7M-5.7% | $566.9M-0.5% | $569.8M-35.2% | $879.5M-3.6% | $912.6M-1.9% | $929.8M-5.1% | $980.0M-2.2% | $1.0B |
| Total Equity | $1.3B+1.2% | $1.3B+7.3% | $1.2B+17.9% | $1.0B+3.0% | $999.8M+3.4% | $967.2M+40.7% | $687.4M+3.5% | $664.4M |
| Retained Earnings | $873.6M+1.8% | $858.3M+10.8% | $775.0M+30.5% | $594.0M+5.0% | $565.5M+5.7% | $535.2M-5.5% | $566.2M+3.5% | $547.2M |
AZZ Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $79.7M+36.5% | $58.4M-81.5% | $314.8M+375.7% | $66.2M+39.3% | $47.5M-34.0% | $71.9M+15.0% | $62.6M-12.4% | $71.4M |
| Capital Expenditures | $18.5M-3.8% | $19.3M-7.7% | $20.9M-21.0% | $26.4M-17.6% | $32.1M+17.2% | $27.4M+13.3% | $24.2M-5.9% | $25.7M |
| Free Cash Flow | $61.2M+56.4% | $39.1M-86.7% | $293.9M+639.8% | $39.7M+158.3% | $15.4M-65.5% | $44.5M+16.0% | $38.4M-16.1% | $45.8M |
| Investing Cash Flow | -$18.5M+62.5% | -$49.4M-188.3% | -$17.1M+35.0% | -$26.4M+15.9% | -$31.4M-14.5% | -$27.4M-13.4% | -$24.1M+6.0% | -$25.7M |
| Financing Cash Flow | -$61.7M-455.9% | -$11.1M+96.2% | -$295.5M-617.9% | -$41.2M-70.0% | -$24.2M+37.2% | -$38.5M-16.6% | -$33.1M+29.4% | -$46.8M |
| Dividends Paid | $6.0M-0.2% | $6.0M+18.2% | $5.1M+0.1% | $5.1M+0.1% | $5.1M-35.5% | $7.9M+0.1% | $7.9M+0.1% | $7.9M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AZZ Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.9%-0.3pp | 24.3%-0.4pp | 24.7%+0.5pp | 24.2%-1.1pp | 25.3%+0.5pp | 24.9%+1.7pp | 23.1%-1.3pp | 24.4% |
| Operating Margin | 16.3%-0.1pp | 16.4%-0.1pp | 16.5%+2.0pp | 14.5%-2.0pp | 16.5%-0.3pp | 16.9%+3.0pp | 13.8%-1.5pp | 15.3% |
| Net Margin | 9.7%-11.8pp | 21.4%-19.1pp | 40.5%+32.2pp | 8.3%-0.3pp | 8.7%-0.9pp | 9.6%+2.5pp | 7.0%-0.1pp | 7.1% |
| Return on Equity | 3.1%-3.7pp | 6.9%-7.2pp | 14.1%+10.8pp | 3.3%-0.3pp | 3.5%-0.5pp | 4.1%+0.2pp | 3.9%-0.3pp | 4.3% |
| Return on Assets | 1.8%-2.2pp | 4.0%-3.9pp | 7.9%+6.4pp | 1.5%-0.1pp | 1.6%-0.2pp | 1.8%+0.5pp | 1.2%-0.1pp | 1.3% |
| Current Ratio | 1.66-0.1 | 1.73+0.2 | 1.51-0.3 | 1.77-0.1 | 1.85+0.1 | 1.77-0.2 | 1.96-0.0 | 1.99 |
| Debt-to-Equity | 0.41-0.0 | 0.43-0.0 | 0.47-0.4 | 0.85-0.1 | 0.91-0.0 | 0.96-0.5 | 1.43-0.1 | 1.51 |
| FCF Margin | 14.4%+5.0pp | 9.4%-60.3pp | 69.7%+59.8pp | 9.8%+6.1pp | 3.8%-7.0pp | 10.8%+0.7pp | 10.1%-1.4pp | 11.5% |
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Frequently Asked Questions
What is Azz Inc's annual revenue?
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.
How fast is Azz Inc's revenue growing?
Azz Inc (AZZ) revenue grew by 2.6% year-over-year, from $1.5B to $1.6B in fiscal year 2025.
Is Azz Inc profitable?
Yes, Azz Inc (AZZ) reported a net income of $128.8M in fiscal year 2025, with a net profit margin of 8.2%.
What is Azz Inc's earnings per share (EPS)?
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.
What is Azz Inc's EBITDA?
Azz Inc (AZZ) had EBITDA of $318.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Azz Inc have?
As of fiscal year 2025, Azz Inc (AZZ) had $1.5M in cash and equivalents against $852.4M in long-term debt.
What is Azz Inc's gross margin?
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.
What is Azz Inc's operating margin?
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.
What is Azz Inc's net profit margin?
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.
Does Azz Inc pay dividends?
Yes, Azz Inc (AZZ) paid $0.68 per share in dividends during fiscal year 2025.
What is Azz Inc's return on equity (ROE)?
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.
What is Azz Inc's free cash flow?
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.
What is Azz Inc's operating cash flow?
Azz Inc (AZZ) generated $249.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Azz Inc's total assets?
Azz Inc (AZZ) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Azz Inc's capital expenditures?
Azz Inc (AZZ) invested $115.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Azz Inc have outstanding?
Azz Inc (AZZ) had 30M shares outstanding as of fiscal year 2025.
What is Azz Inc's current ratio?
Azz Inc (AZZ) had a current ratio of 1.70 as of fiscal year 2025, which is generally considered healthy.
What is Azz Inc's debt-to-equity ratio?
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.
What is Azz Inc's return on assets (ROA)?
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.
What is Azz Inc's Altman Z-Score?
Azz Inc (AZZ) has an Altman Z-Score of 3.65, 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.
What is Azz Inc's Piotroski F-Score?
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.
Are Azz Inc's earnings high quality?
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.
Can Azz Inc cover its interest payments?
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.
How financially healthy is Azz Inc?
Azz Inc (AZZ) scores 55 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.