AZZNYSECoating, Engraving & Allied ServicesFiscal year ends February 28
AZZ INC
Financials through Q2 FY2026, quarter ended Aug 31, 2026Last filing: 10-Q/A on Oct 15, 2026
$133.99+4.43 (+3.42%)
Close on Oct 19, 2026
- Market cap
- $4.04B
- P/E (TTM)
- 24.1
- Dividend yield
- 0.57%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
23.9%−1.6 pts over 5 years
Operating margin
16.0%+6.2 pts over 5 years
Net margin
19.2%+11.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.6% | +7.6% | +28.0% | +6.4% | |
| Gross profit | +3.2% | +10.1% | +26.3% | +5.6% | |
| Operating income | +12.0% | +15.1% | +41.0% | +8.2% | |
| Net income | +146.3% | – | +51.6% | +15.4% | |
| EPS, diluted | +486.6% | – | +47.2% | +13.7% | |
| Free cash flow | +231.8% | +134.9% | +40.3% | +15.7% | |
| Dividend per share | +13.2% | +4.2% | +2.5% | +2.5% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 12.0% | 6.3% | 26.6% | |
| Return on assets | 6.2% | 3.8% | 14.3% | |
| Current ratio | 2.17 | 2.62 | 1.70 | |
| Debt to equity | 0.51 | 0.29 | 0.36 | |
| Net debt to EBITDA | 1.74× | 2.09× | 1.34× | |
| Interest coverage | 6.7× | 5.0× | 4.8× | |
| Inventory turnover | 7.7× | – | 11.1× | |
| Capex to revenue | 4.8% | 5.7% | 4.9% | |
| Diluted shares | 26M | 26M | 30M |
Where the cash went
Fiscal 2021 to 2025, five years combined
AZZ generated $1.17B from operations and spent $540.52M on capital expenditure, dividends and share buybacks. 69% of that went back into the business.
Generated
$1.17B
Used
$540.52M
Capital expenditure$372.49M69%Dividends$117.21M22%Share buybacks$50.82M9%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin19.2%
×Asset turnover0.74×
×Equity multiplier1.86×
=Return on equity, FY202526.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 19.2% | 0.74× | 1.86× | 26.6% |
| FY2024 | 8.2% | 0.71× | 2.53× | 14.8% |
| FY2023 | 6.6% | 0.70× | 3.34× | 15.4% |
| FY2022 | -4.0% | 0.79× | 2.61× | -8.2% |
| FY2021 | 16.0% | 0.49× | 1.65× | 13.0% |
| FY2020 | 8.2% | 0.46× | 1.65× | 6.3% |
| FY2019 | 4.5% | 0.98× | 1.75× | 7.8% |
| FY2018 | 5.5% | 0.88× | 1.81× | 8.8% |
| FY2017 | 5.6% | 0.81× | 1.83× | 8.2% |
| FY2016 | 7.1% | 0.88× | 1.93× | 12.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$317.26M
- Cash generatingOperating cash flow above zero$525.45M
- Return on assets improvedROA up on the prior year5.9% → 14.2%
- Earnings backed by cashOperating cash flow above net income$525.45M vs $317.26M
- Less leverageLong-term debt to assets fell38.3% → 21.6%
- Better liquidityCurrent ratio rose1.70 → 1.70
- No dilutionShare count did not rise29M → 30M
- Gross margin improvedGross margin up on the prior year24.25% → 23.94%
- More efficientAsset turnover rose0.72 → 0.74