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Azz Inc

AZZ NYSE Coating, Engraving & Allied Services Financials FY2017–FY2026

Revenue Total sales reported in the income statement.
$1.7B
4.6% vs prior year
Operating margin Operating income as a share of revenue.
16.0%
1.1 pts
Net income Profit after all expenses, interest and tax.
$317M
146.3%
Free cash flow Cash from operations minus capital spending.
$445M
231.8%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
11.0%
1.6 pts
Market cap Last close times the latest diluted share count, so it is approximate.
—
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On $5.55 EPS (TTM)

What Azz Inc does

No business description yet.

Legal name
AZZ INC
Fiscal year ends
February 28, 2026
Latest annual report
10-K · Apr 22, 2026
Accession · CIK
0000008947-26-000068
0000008947

Revenue and margins

Azz Inc had $1.7B of revenue in fiscal 2026, up 4.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 18.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $445M in fiscal 2026, 26.9% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Azz Inc returned $43.1M to shareholders in fiscal 2026, 10% of free cash flow. The diluted share count rose 3.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Azz Inc can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $12.1M$2.8M$4.3M$1.5M$0.7M
Debt incl. finance leases $227M$1.1B$957M$859M$491M
Net debt / EBITDA 1.9x4.3x3.2x2.7x1.4x
Debt / equity 0.3x1.7x1.4x0.8x0.4x
Interest coverage 12.4x2.0x2.1x2.9x4.8x
Current ratio 2.6x2.2x1.9x1.7x1.7x
Quick ratio 2.6x1.5x1.3x1.2x1.2x
Total assets $1.1B$2.2B$2.2B$2.2B$2.2B
Total liabilities $466M$1.4B$1.3B$1.2B$876M
Shareholders' equity $667M$620M$701M$1.0B$1.3B
Net debt (− = net cash) $215M$1.1B$952M$858M$491M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Net income is positive ✓ ✓ ✓ ✓ ✓ ✓ ✕ ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Return on assets rose — ✕ ✓ ✕ ✕ ✓ ✕ ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Debt fell relative to assets — ✕ ✓ ✕ ✓ ✕ ✕ ✓ ✓ ✓
Current ratio rose — ✓ ✕ ✕ ✓ ✕ ✕ ✕ ✕ ✓
Share count didn't rise — ✓ ✕ ✕ ✓ ✓ ✓ ✕ ✕ ✕
Gross margin rose — ✕ ✓ ✓ ✓ ✓ ✕ ✓ ✓ ✕
Revenue rose relative to assets — ✕ ✓ ✓ ✕ ✕ ✓ ✓ ✓ ✓
F-score — / 35 / 97 / 95 / 97 / 96 / 94 / 97 / 97 / 97 / 9
Accruals ratio −5.1%−3.2%−5.6%−8.7%−5.1%−0.2%−8.6%−6.5%−5.5%−9.4%
Altman Z'' 4.674.524.714.205.085.022.422.632.994.19

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $864M $810M $927M $1.1B $481M $526M $1.3B $1.5B $1.6B $1.7B
Gross profit $205M $160M $199M $237M $123M $146M $296M $363M $383M $395M
Operating income $98.9M $48.2M $77.0M $79.3M $47.5M $79.2M $174M $222M $236M $265M
Interest expense $14.7M $13.9M $15.0M $13.5M $9.5M $6.4M $88.8M $107M $81.3M $55.7M
Pretax income $85.3M $30.9M $63.0M $64.9M $38.4M $73.0M $88.7M $130M $171M $420M
Income tax $24.0M −$14.3M $11.8M $16.7M $11.2M $23.2M $22.3M $28.5M $41.9M $103M
Net income $61.3M $45.2M $51.2M $48.2M $39.6M $84.0M −$53.0M $102M $129M $317M
Net income to common — — — — $39.6M $84.0M −$61.2M $87.2M $52.4M $317M
Diluted EPS $2.35 $1.73 $1.96 $1.84 $1.52 $3.35 −$2.45 $3.46 $1.79 $10.50
Diluted shares 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.02B 0.03B 0.03B 0.03B
Cash flow
Cash from operations $111M $76.8M $110M $142M $92.0M $86.0M $91.4M $244M $250M $525M
Capital expenditure $41.4M $29.6M $24.6M $32.6M $27.2M $23.6M $57.1M $95.1M $116M $80.8M
Free cash flow $69.7M $47.2M $85.9M $110M $64.9M $62.4M $34.3M $149M $134M $445M
Depreciation and amortization $50.4M $50.5M $50.2M $50.2M $32.1M $32.1M $74.6M $79.4M $82.2M $90.1M
Stock-based compensation $5.9M $6.1M $4.7M $6.3M $7.3M $9.4M $8.4M $9.5M $13.3M $14.8M
Acquisitions $22.7M $44.8M $8.0M $60.6M $4.4M $61.2M $1.3B $0.0M $0.0M $30.1M
Share buybacks $5.3M $7.5M $0.0M $5.8M $48.3M $30.8M $0.0M $0.0M $0.0M $20.0M
Dividends paid $16.6M $17.7M $17.7M $17.8M $17.6M $16.9M $22.7M $31.4M $23.1M $23.1M
Dividends and buybacks $21.9M $25.2M $17.7M $23.6M $66.0M $47.7M $22.7M $31.4M $23.1M $43.1M
Balance sheet
Cash and short-term investments $11.3M $20.9M $24.0M $36.7M $14.8M $12.1M $2.8M $4.3M $1.5M $0.7M
Total debt $288M $315M $241M $328M $178M $226M $1.1B $953M $852M $478M
Finance lease liabilities — — — — $0.3M $0.8M $1.3M $4.0M $6.6M $13.7M
Current assets $297M $329M $379M $355M $305M $387M $417M $367M $375M $395M
Current liabilities $137M $132M $165M $281M $117M $151M $187M $194M $221M $232M
Inventory $94.0M $111M $125M $99.8M — — $144M $118M $112M $113M
Property and equipment, net $229M $217M $210M $213M $207M $193M $499M $542M $593M $609M
Goodwill $307M $321M $324M $356M $354M $190M $703M $705M $704M $715M
Intangible assets $146M $161M $130M $107M $91.4M $39.1M $469M $445M $422M $410M
Total assets $978M $1.0B $1.1B $1.1B $999M $1.1B $2.2B $2.2B $2.2B $2.2B
Total liabilities $445M $463M $485M $439M $376M $466M $1.4B $1.3B $1.2B $876M
Shareholders' equity $533M $565M $604M $634M $623M $667M $620M $701M $1.0B $1.3B
Margins
Gross margin 23.8% 19.8% 21.4% 22.3% 25.6% 27.8% 22.4% 23.6% 24.3% 23.9%
Operating margin 11.5% 6.0% 8.3% 7.5% 9.9% 15.1% 13.1% 14.4% 15.0% 16.0%
EBITDA margin 17.3% 12.2% 13.7% 12.2% 16.6% 21.2% 18.8% 19.6% 20.2% 21.5%
Net margin 7.1% 5.6% 5.5% 4.5% 8.2% 16.0% −4.0% 6.6% 8.2% 19.2%
FCF margin 8.1% 5.8% 9.3% 10.3% 13.5% 11.9% 2.6% 9.7% 8.5% 26.9%
Returns
Return on capital 8.8% 5.6% 7.6% 6.4% 4.3% 6.1% 7.8% 10.5% 9.4% 11.0%
Return on capital employed 11.8% 5.4% 8.3% 10.0% 5.4% 8.1% 8.5% 11.1% 11.8% 13.4%
Return on equity 11.5% 8.2% 8.8% 7.8% 6.3% 13.0% −8.2% 15.4% 14.8% 26.6%
Return on assets 6.3% 4.5% 4.8% 4.5% 3.8% 7.9% −3.2% 4.6% 5.8% 14.3%
Return on tangible equity 76.2% 54.4% 34.2% 28.1% 22.3% 19.2% — — — 149.3%
Growth
Revenue growth — −6.2% 14.4% 14.5% −54.7% 9.4% 151.8% 16.2% 2.6% 4.6%
Net income growth — −26.3% 13.4% −5.8% −17.9% 112.1% −163.0% — 26.8% 146.3%
EPS growth — −26.4% 13.3% −6.1% −17.4% 120.4% −173.1% — −48.3% 486.6%
FCF growth — −32.3% 81.9% 27.8% −40.9% −3.8% −45.0% 335.3% −10.3% 231.8%
Share count change — −0.2% 0.3% 0.7% −0.9% −3.7% −0.4% 0.9% 16.4% 3.0%
Financial health
Net debt / EBITDA 1.9x 3.0x 1.7x 2.2x 2.1x 1.9x 4.3x 3.2x 2.7x 1.4x
Debt / equity 0.5x 0.6x 0.4x 0.5x 0.3x 0.3x 1.7x 1.4x 0.8x 0.4x
Interest coverage 6.7x 3.5x 5.1x 5.9x 5.0x 12.4x 2.0x 2.1x 2.9x 4.8x
Current ratio 2.2x 2.5x 2.3x 1.3x 2.6x 2.6x 2.2x 1.9x 1.7x 1.7x
Quick ratio 1.5x 1.7x 1.5x 0.9x 2.6x 2.6x 1.5x 1.3x 1.2x 1.2x
Capital allocation
Capex / revenue 4.8% 3.7% 2.7% 3.1% 5.7% 4.5% 4.3% 6.2% 7.3% 4.9%
Stock comp / revenue 0.7% 0.8% 0.5% 0.6% 1.5% 1.8% 0.6% 0.6% 0.8% 0.9%
Payouts / FCF 31.4% 53.4% 20.6% 21.5% 101.7% 76.4% 66.3% 21.0% 17.2% 9.7%
Quality scores
Piotroski F-score — 5.0 7.0 5.0 7.0 6.0 4.0 7.0 7.0 7.0
Altman Z'' 4.7 4.5 4.7 4.2 5.1 5.0 2.4 2.6 3.0 4.2
Accruals ratio −5.1% −3.2% −5.6% −8.7% −5.1% −0.2% −8.6% −6.5% −5.5% −9.4%

Source: SEC EDGAR XBRL filings (CIK 0000008947). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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