undamentalytics Newsletter
Sign in

AZZ Inc (AZZ) stock

Add to watchlist

Add holding +

NYSE: AZZ NYSE Industrial Machinery & Supplies & Components Next results ~January 6, 2027

B Fundamentals grade

AZZ Inc is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in February.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$220

Cash-flow model

Base case. Range ~$160–$290 across our lower- and higher-growth cases (2.4%–12.4% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 58% above it.

Price used: $137.03, November 2, 2026

AZZ Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 7 sales by directors and officers, last 12 monthsInsider trades

Value diary

Our note on each quarter AZZ files

Where AZZ stands after its latest 10-Q/A

Revenue for the twelve months to August 2026 was $1.75bn, up 9.5% on a year earlier, faster than the 5.7% growth a quarter earlier. Free-cash-flow margin fell to 12.3% from 25.5% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 5 of our 7 financial-health checks. Our cash-flow model value is $215 a share, against a share price of $134.

Source: 10-Q/A filed October 15, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 6, 2027 (estimated)

AZZ Inc's trailing-twelve-month revenue grew 9.5% year on year, with a free-cash-flow margin of 12.3%. Where it stands out: days sales outstanding of 37 days ranks 4 of 65 industrial machinery & supplies & components companies we cover.

Our discounted-cash-flow model values the business at ~$220 per share in the base case (~$160–$290 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 9.5% (+3.8pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $137.03 is 58% below our value per share of $220.
  • Growth speeding up. The growth rate is 3.8 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Below peers: gross margin. Gross margin of 24.3% ranks 54 of 70 industrial machinery & supplies & components companies we cover (median 35.4%).

Latest results: FY2027 Q2

Filed October 13, 2026
Earnings per share
$2.00 against an average estimate of $1.84: beat by 8.4%
Revenue
$487m, up 16.7% on a year earlier
Share reaction
-0.1% in the first session after the results on October 13, 2026, against -1.1% for the S&P 500
Guidance given
sales $1.83bn to $1.88bn (year ending February 28, 2027); adjusted EBITDA $380m to $420m (year ending February 28, 2027)
Next report
January 6, 2027; average EPS estimate $1.87

AZZ's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.9%
  • 1 week+2.7%
  • 1 month-1.5%
  • This year+28.7%
  • 1 year+38.1%
  • 5 years+164.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.7B
Operating margin
16.5%
Net margin
9.6%
EPS (TTM, diluted)
$5.55

Growth

Revenue growth
+9.5%
Change in growth rate
+3.8 pts
Share count change
−0.3%

Cash

Free cash flow (TTM)
$214M
FCF margin
12.3%
Stock pay % of revenue
0.8%

Earnings

Last results
October 13, 2026
Next results (est.)
January 6, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Guidance
  4. Dividend
  5. Announcement
  6. Results
  7. Announcement
  8. Leadership
  9. Deal
  10. Results
  11. Shareholder vote

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

AZZ Inc valuation models and calculator

What the price is pricing in

The share price implies about 0.2% a year of cash-flow growth for five years.That is slower than the 27.1% a year revenue growth AZZ has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in0.2%
  • Last 12 months9.5%
  • 3 years a year5.2%
  • 5 years a year27.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($138.96, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$220
Price used
$138.96close November 3, 2026
Implied change
▲ +55%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of AZZ Inc's free cash flow after stock-based pay with after-tax interest added back ($312M, FY2027 Q2 TTM), growing 8.1% and 6.4% in the next two years (forecasts, guidance and its record), then back to 7.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$160–~$290 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of AZZ Inc's free cash flow after stock-based pay ( $312M, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value AZZ Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$220 ~$160–$290 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$140 ~$120–$180 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$38 ~$27–$55 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$35 ~$30–$41 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$130 ~$35–$220 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare AZZ Inc with Industrial Machinery & Supplies & Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −27%
  • Revenue growth 5 points higher ▲ +35%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Last year's free-cash-flow margin change, if it persists ▼ −50%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $134$187$259$353$476$634
8.5% $98$137$189$256$344$456
10% $77$107$147$198$265$350

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$43.87$51.52$36.38$41.58$33.86$47.82$46.70$39.22$71.27$94.90$135.30$137.03
Market value$1.1bn$1.3bn$947m$1.1bn$890m$1.2bn$1.2bn$980m$1.8bn$2.8bn$4.1bn$4.1bn
+ Net debt (− = net cash)$287m$261m$280m$217m$166m$164m$215m$1.1bn$1.0bn$899m$514m$498m
Enterprise value$1.4bn$1.6bn$1.2bn$1.3bn$1.1bn$1.4bn$1.4bn$2.1bn$2.8bn$3.7bn$4.6bn$4.6bn
Multiples
Price / sales 1.3x1.6x1.2x1.2x0.8x2.6x2.2x0.7x1.2x1.8x2.5x2.4x
Price / earnings 15.1x21.9x21.0x21.2x18.4x31.4x13.9x—17.7x21.6x12.9x24.7x
Price / free cash flow 11.0x19.3x20.1x12.6x8.1x19.2x18.8x28.6x12.0x20.8x9.2x19.3x
EV / EBITDA 8.5x10.8x12.4x10.2x8.2x17.7x12.5x8.5x9.3x11.6x13.0x12.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

56 /100

Moderate moat

How hard AZZ's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Cash operating profit has been a median 9.9% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 23.6%, moving by 1.9 percentage points (standard deviation) across 10 years.

  • Durability 8 / 20

    Operating margin has been a median 12.2%; its worst year was 4.3%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 9.3% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 14.9% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 6, 2027, after the close. Analysts expect revenue of $481m and EPS of $1.87 (range $1.75 to $2.13) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $7.21 +16% $1.8bn +12%
Next $7.91 +10% $1.9bn +5%

Next year's EPS estimate has moved +1.6% in 90 days, across 10 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.9% on 90 days ago. In the last 30 days, 10 analysts raised AZZ Inc's forecast and 0 cut it.

Consensus EPS forecast AZZ Inc, last 90 days
$7.00 $7.50 $8.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.07 Current fiscal year, 60 days ago: $7.07 Current fiscal year, 30 days ago: $7.07 Current fiscal year, 7 days ago: $7.07 Current fiscal year, Now: $7.21 $7.21 Next fiscal year, 90 days ago: $7.79 Next fiscal year, 60 days ago: $7.81 Next fiscal year, 30 days ago: $7.81 Next fiscal year, 7 days ago: $7.79 Next fiscal year, Now: $7.91 $7.91

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.07$7.79
60 days ago $7.07$7.81
30 days ago $7.07$7.81
7 days ago $7.07$7.79
Now $7.21$7.91

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $1.84 $2.00 +8.4%
May 2026 $1.69 $1.85 +9.6%
Feb 2026 $1.22 $1.34 +9.9%
Nov 2025 $1.48 $1.52 +2.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 13, 2026
  • Sales year ending February 28, 2027 $1.825bn to $1.875bn Raised
    “Sales $1.80 - $1.85 billion $1.825 - $1.875 billion” source
  • Adjusted Diluted EPS year ending February 28, 2027 $7.00 to $7.30 Non-GAAP Raised
    “Adjusted Diluted EPS $6.75 - $7.15 $7.00 - $7.30” source
  • Adjusted EBITDA year ending February 28, 2027 $380m to $420m Non-GAAP Raised
    “Adjusted EBITDA $375 - $415 million $380 - $420 million” source
  • Capital expenditures full fiscal year 2027 $80m to $100m
    “Capital expenditures for the first six months of fiscal year 2027 were $37.2 million, and full fiscal year capital expenditures are expected to be approximately $80 - $100 million.” source
  • Interest expense year ending February 28, 2027 $35m to $45m
    “c. Interest expense is expected to be $35 to $45 million.” source
  • annualized effective tax rate year ending February 28, 2027 about 25%
    “Fiscal year 2027 guidance reflects our best estimates given expected market conditions for the full year, lower interest expense, an annualized effective tax rate of 25% and excludes M&A activity and any federal regulatory changes that may emerge.” source
Show 1 more item
  • Debt reduction year ending February 28, 2027 $100m to $140m
    “e. Debt reduction in the range of $100 to $140 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows AZZ Inc's revenue by +8.1% next year and +6.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.3%, weight 55%) , management guidance (+8.4%, weight 19%) and the company's own record (+7.4%, weight 26%) . How the weights are set.

Analyst recommendations

11 analysts, Nov 2026
Buy655%
Hold545%
Sell00%

Monthly trend

  1. Nov 20266511
  2. Oct 20266410

Counts of recommendations published by analysts covering AZZ Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.3%
of tradable shares
Days to cover
2.93
at average volume
Short interest, 1 month
−19%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
1.7%
of shares
Employees
3,767
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +38.1%

$99.19 on October 31, 2025 to $137.03

ThenNowEffect
Revenue (last 12 months) $1.6bn $1.7bn +9.5%
Net margin 19.7% 9.6% −51.3%
P/E multiple 9.6x 24.7x +158.3%
Share count 30m 30m +0.3%

Biggest factor: p/e multiple.

Last 3 years +193.0%

$46.77 on November 3, 2023 to $137.03

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.7bn +16.5%
P/S multiple 0.8x 2.4x +180.1%
Share count 27m 30m −10.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AZZ+18%−26%+47%+42%+32%+29%
Industry peers (median)+19%−13%+19%+2%+9%+3%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AZZ67%42%67%58%75%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AZZ−13%−45%−24%−17%−24%−19%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 68% from December 7, 2016 to March 18, 2020. Getting back needed a 213% gain, reached on January 23, 2024, 1406 days after the low.

Price behaviour

52-week range
$97.00 – $159.61
From 52-week high
−14.1%
vs 50-day average
+0.6%
vs 200-day average
−0.6%
Volatility (1 year)
32%
Beta vs S&P 500
1.17

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±4.6%
After a week
9 up, 3 down
typical move ±5.1%
After a month
9 up, 2 down
typical move ±9.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 13, 2026 −0.1% −1.1% −1.4% —
July 8, 2026 −2.0% +0.5% +4.6% +4.9%
April 22, 2026 +7.6% +0.6% +1.3% +0.6%
January 7, 2026 +6.0% −0.3% +9.6% +17.9%
October 8, 2025 −4.1% +0.3% −4.9% −4.6%
July 9, 2025 +7.8% +0.9% +11.2% +10.6%
April 21, 2025 −1.2% +0.2% +7.5% +14.4%
January 7, 2025 −2.3% −1.0% +1.9% +12.5%
October 9, 2024 −4.2% +0.5% +0.3% +4.0%
July 10, 2024 +8.5% +0.1% +15.1% −0.8%
April 22, 2024 +10.9% +2.1% −2.8% +12.5%
January 9, 2024 −0.4% +0.4% +0.8% +18.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How AZZ Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

AZZ Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) AZZ Inc
$1.5B $1.6B $1.7B $1.8B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $1.5B Revenue (TTM), FY24 Q4: $1.5B Revenue (TTM), FY25 Q1: $1.6B Revenue (TTM), FY25 Q2: $1.6B Revenue (TTM), FY25 Q3: $1.6B Revenue (TTM), FY25 Q4: $1.6B Revenue (TTM), FY26 Q1: $1.6B Revenue (TTM), FY26 Q2: $1.6B Revenue (TTM), FY26 Q3: $1.6B Revenue (TTM), FY26 Q4: $1.7B Revenue (TTM), FY27 Q1: $1.7B Revenue (TTM), FY27 Q2: $1.7B $1.7B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $1.5B
FY24 Q4 $1.5B
FY25 Q1 $1.6B
FY25 Q2 $1.6B
FY25 Q3 $1.6B
FY25 Q4 $1.6B
FY26 Q1 $1.6B
FY26 Q2 $1.6B
FY26 Q3 $1.6B
FY26 Q4 $1.7B
FY27 Q1 $1.7B
FY27 Q2 $1.7B
Revenue growth, TTM YoY AZZ Inc
0% 10% 20% 30% 40% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 35.0% Revenue growth, TTM YoY, FY24 Q4: 16.2% Revenue growth, TTM YoY, FY25 Q1: 3.5% Revenue growth, TTM YoY, FY25 Q2: 4.7% Revenue growth, TTM YoY, FY25 Q3: 5.6% Revenue growth, TTM YoY, FY25 Q4: 2.6% Revenue growth, TTM YoY, FY26 Q1: 1.7% Revenue growth, TTM YoY, FY26 Q2: 1.6% Revenue growth, TTM YoY, FY26 Q3: 1.5% Revenue growth, TTM YoY, FY26 Q4: 4.6% Revenue growth, TTM YoY, FY27 Q1: 5.7% Revenue growth, TTM YoY, FY27 Q2: 9.5% 9.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 35.0%
FY24 Q4 16.2%
FY25 Q1 3.5%
FY25 Q2 4.7%
FY25 Q3 5.6%
FY25 Q4 2.6%
FY26 Q1 1.7%
FY26 Q2 1.6%
FY26 Q3 1.5%
FY26 Q4 4.6%
FY27 Q1 5.7%
FY27 Q2 9.5%
Operating margin (TTM) AZZ Inc
14% 15% 16% 17% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 14.3% Operating margin (TTM), FY24 Q4: 14.4% Operating margin (TTM), FY25 Q1: 14.5% Operating margin (TTM), FY25 Q2: 14.8% Operating margin (TTM), FY25 Q3: 15.0% Operating margin (TTM), FY25 Q4: 15.0% Operating margin (TTM), FY26 Q1: 14.9% Operating margin (TTM), FY26 Q2: 14.9% Operating margin (TTM), FY26 Q3: 15.3% Operating margin (TTM), FY26 Q4: 16.0% Operating margin (TTM), FY27 Q1: 16.2% Operating margin (TTM), FY27 Q2: 16.5% 16.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 14.3%
FY24 Q4 14.4%
FY25 Q1 14.5%
FY25 Q2 14.8%
FY25 Q3 15.0%
FY25 Q4 15.0%
FY26 Q1 14.9%
FY26 Q2 14.9%
FY26 Q3 15.3%
FY26 Q4 16.0%
FY27 Q1 16.2%
FY27 Q2 16.5%
FCF margin (TTM) AZZ Inc
0% 10% 20% 30% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 7.6% FCF margin (TTM), FY24 Q4: 9.7% FCF margin (TTM), FY25 Q1: 10.5% FCF margin (TTM), FY25 Q2: 8.5% FCF margin (TTM), FY25 Q3: 8.5% FCF margin (TTM), FY25 Q4: 8.5% FCF margin (TTM), FY26 Q1: 24.2% FCF margin (TTM), FY26 Q2: 25.5% FCF margin (TTM), FY26 Q3: 26.5% FCF margin (TTM), FY26 Q4: 26.9% FCF margin (TTM), FY27 Q1: 10.1% FCF margin (TTM), FY27 Q2: 12.3% 12.3%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 7.6%
FY24 Q4 9.7%
FY25 Q1 10.5%
FY25 Q2 8.5%
FY25 Q3 8.5%
FY25 Q4 8.5%
FY26 Q1 24.2%
FY26 Q2 25.5%
FY26 Q3 26.5%
FY26 Q4 26.9%
FY27 Q1 10.1%
FY27 Q2 12.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar AZZ took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.7B
  2. Other income $156M · 9.4%
  3. Cost of revenue $1.3B · 76.1%
  4. Gross profit $395M · 23.9%
  5. Selling, general and admin $130M · 7.9%
  6. Operating income $265M · 16.0%
  7. Income tax $103M · 6.2%
  8. Net income $317M · 19.2%

Shares of revenue. Source: AZZ's 10-K for FY2026, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Feb 2010 2011 Feb 2011 2012 Feb 2012 2013 Feb 2013 2014 Feb 2014 2015 Feb 2015 2016 Feb 2016 2017 Feb 2017 2018 Feb 2018 2019 Feb 2019 2020 Feb 2020 2021 Feb 2021 2022 Feb 2022 2023 Feb 2023 2024 Feb 2024 2025 Feb 2025 2026 Feb 2026 LTM Aug 2026
Income
Revenue 357 381 469 571 752 820 889 864 810 927 1,062 481 526 1,324 1,538 1,578 1,650 1,746
Gross profit — — — 164 206 207 228 205 160 199 237 123 146 296 363 383 395 424
EBITDA — 106 121 127 143 154 168 149 99 127 130 80 111 248 301 319 355 381
Operating income — 84 99 98 100 108 120 99 48 77 79 47 79 174 222 236 265 287
Net income 38 35 41 60 60 66 76 61 45 51 48 40 84 −53 102 129 317 167
Diluted EPS $1.51 $1.39 $1.61 $2.37 $2.32 $2.55 $2.91 $2.35 $1.73 $1.96 $1.84 $1.52 $3.35 −$2.45 $3.46 $1.79 $10.50 $5.55
Growth (year on year)
Revenue — +6.6% +23.2% +21.6% +31.7% +9.0% +8.5% −2.9% −6.2% +14.4% +14.5% −54.7% +9.4% +151.8% +16.2% +2.6% +4.6% +9.5%
EBITDA — — +14.2% +5.0% +12.6% +7.4% +8.9% −11.0% −33.8% +28.8% +1.8% −38.6% +39.9% +123.0% +21.3% +5.8% +11.3% +18.1%
Operating income — — +17.5% −0.8% +2.2% +7.8% +11.5% −17.8% −51.2% +59.5% +3.1% −40.2% +66.9% +119.2% +27.6% +6.7% +12.0% +21.3%
Net income — −7.3% +16.5% +48.4% −1.4% +10.1% +15.1% −18.9% −26.3% +13.4% −5.8% −17.9% +112.1% −163.0% — +26.8% +146.3% −46.7%
Diluted EPS — −7.9% +15.8% +47.2% −2.1% +9.9% +14.1% −19.2% −26.4% +13.3% −6.1% −17.4% +120.4% −173.1% — −48.3% +486.6% −46.5%
Margins
Gross margin — — — 28.8% 27.4% 25.2% 25.6% 23.8% 19.8% 21.4% 22.3% 25.6% 27.8% 22.4% 23.6% 24.3% 23.9% 24.3%
EBITDA margin — 27.9% 25.9% 22.3% 19.1% 18.8% 18.9% 17.3% 12.2% 13.7% 12.2% 16.6% 21.2% 18.8% 19.6% 20.2% 21.5% 21.8%
Operating margin — 22.1% 21.0% 17.2% 13.3% 13.2% 13.5% 11.5% 6.0% 8.3% 7.5% 9.9% 15.1% 13.1% 14.4% 15.0% 16.0% 16.5%
Net margin 10.6% 9.2% 8.7% 10.6% 7.9% 8.0% 8.5% 7.1% 5.6% 5.5% 4.5% 8.2% 16.0% −4.0% 6.6% 8.2% 19.2% 9.6%
Free-cash-flow margin 19.8% 6.7% 9.4% 11.9% 8.5% 10.8% 11.7% 8.1% 5.8% 9.3% 10.3% 13.5% 11.9% 2.6% 9.7% 8.5% 26.9% 12.3%
Cash flow
Cash from operations 83 42 64 93 107 118 144 111 77 110 142 92 86 91 244 250 525 292
Capital spending 12 16 20 25 43 29 40 41 30 25 33 27 24 57 95 116 81 78
Free cash flow 71 26 44 68 64 89 104 70 47 86 110 65 62 34 149 134 445 214
Stock-based pay 2 3 3 3 4 4 5 6 6 5 6 7 9 8 10 13 15 14
Free cash flow after stock pay 68 23 41 65 60 85 99 64 41 81 103 58 53 26 140 121 430 200
Balance sheet
Cash 111 138 143 56 28 23 40 11 21 24 37 15 12 3 4 1 1 2
Total debt 0 225 225 211 406 338 327 272 301 241 203 179 227 1,125 1,010 900 515 500
Net debt (negative = net cash) −111 87 82 155 378 315 287 261 280 217 166 164 215 1,122 1,006 899 514 498
Diluted shares 25m 25m 25m 26m 26m 26m 26m 26m 26m 26m 26m 26m 25m 25m 25m 29m 30m 30m
Returned to shareholders
Dividends 3 12 13 13 14 15 15 17 18 18 18 18 17 23 31 23 23 25
Buybacks — — — — — 0 0 5 8 0 6 48 31 0 0 0 20 —
Total returned 3 12 13 13 14 15 15 22 25 18 24 66 48 23 31 23 43 25

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · August 31, 2026
What it owns · $2.3bn
Short-term assets $455mLonger-term assets $1.9bn
What it owes, and who funded it · $2.3bn
Short-term liabilities $254mLonger-term liabilities $669mShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $455m of assets due within a year against $254m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $455m short-term assets against $669m of longer-dated liabilities.
  • More cash than debt $2m of cash against $468m of debt.
  • Debt below 40% of shareholders' equity Debt is 33% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 34% to 33% over five years.
  • A year's operating cash flow covers at least 20% of debt $292m of operating cash flow against $468m of debt.
  • Operating profit covers interest at least five times over Operating income of $287m against $45m of interest.

From AZZ Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$25.2M
Buybacks, last 3 fiscal years
$20M
Diluted share count
−0.3%
year over year
Total shareholder yield
0.6%
dividends 0.6% + buybacks 0.0% of market value
Dividend payout ratio
15%
of net income paid out
Sales & admin spending
7.8%
of revenue
Days sales outstanding
37 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in industrial machinery & supplies & components
Last 12 months unless stated AZZ PKOH ATMU MSA RBC CMCO Median
Revenue, last 12 months $1.7bn $1.7bn $1.9bn $1.9bn $2.0bn $1.5bn $1.4bn
Revenue growth, last 12 months 9.5% 2.7% 13.1% 6.5% 17.4% 55.2% 8.3%
Revenue growth, 3-year average 5.2% 0.8% 5.5% 5.2% 10.0% 16.1% 4.0%
Revenue growth, latest quarter 16.7% 10.0% 16.4% 6.2% 15.2% 125.3% 9.1%
Gross margin 24.3% 17.3% 28.8% 47.6% 45.5% 28.8% 35.2%
Operating margin 16.5% 4.3% 17.2% 21.2% 24.4% −9.6% 13.1%
Operating margin, 3-year average 15.4% 4.9% 16.3% 20.8% 23.0% 1.7% 13.7%
Net margin 9.6% 1.6% 11.3% 16.1% 17.5% −21.2% 8.9%
Cash from operations / revenue 16.7% 4.1% 12.9% 20.9% 24.0% −6.9% 11.9%
Free-cash-flow margin 12.3% 1.2% 10.0% 18.2% 19.7% −8.2% 8.8%
Free-cash-flow margin, 3-year average 15.4% 0.4% 6.9% 16.9% 17.8% −0.5% 9.8%
Stock pay / revenue 0.8% 0.3% 0.7% 1.0% 1.7% 0.6% 0.8%
Change in share count −0.3% 2.1% −1.3% −1.1% 0.7% 0.4% −0.0%

Median of all 76 companies we cover in industrial machinery & supplies & components. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

76 industrial machinery & supplies & components companies
Measure Company Peer median Rank
Revenue growth Growth 9.5% 8.3% 35 of 75
Change in growth rate Growth +3.8pp +1.2pp 21 of 75
Gross margin Profitability 24.3% 35.4% 54 of 70
Operating margin Profitability 16.5% 13.0% 24 of 75
Net margin Profitability 9.6% 8.9% 36 of 76
Free-cash-flow margin Cash generation 12.3% 9.1% 26 of 76
Stock pay as % of revenue Cash generation 0.8% 0.8% 35 of 70
Long-term debt as % of assets Balance sheet 20.0% 23.4% 19 of 59
Change in share count Balance sheet -0.3% -0.0% 31 of 73
Days sales outstanding Balance sheet 37 days 63 days 4 of 65

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to February 28, 2026
Geography
Region Revenue Share YoY
United States $1.6B 97.2% ▲ 4.3%
Canada $46.2M 2.8% ▲ 14.1%

From AZZ Inc's 10-K filed April 22, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $5.3M 7 trades by 4 insiders · 20% under pre-set plans
Net ▼ $5.3M net selling
Insider Date Trade Shares Price Value
Stovall Bryan Lee COO - Metal Coatings August 14, 2026 Sell 2,677 $150.07 $401,737
Vellines Jeffrey Pres & COO - Precoat Metals August 11, 2026 Sell 4,220 $153.55 $647,981
Mackey Tara D Chief Legal Officer February 11, 2026 Sell pre-set plan 2,923 $136.00 $397,528
Ferguson Thomas E President and CEO February 3, 2026 Sell 25,000 $127.29 $3.2M
Mackey Tara D Chief Legal Officer January 21, 2026 Sell pre-set plan 2,790 $126.64 $353,326
Mackey Tara D Chief Legal Officer January 9, 2026 Sell pre-set plan 1,568 $119.43 $187,266
Mackey Tara D Chief Legal Officer January 8, 2026 Sell pre-set plan 1,000 $118.71 $118,710

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 6, 2027 estimated from the company's past filing pattern, not announced

  • October 13, 2026
  • July 8, 2026
  • April 22, 2026
  • January 7, 2026
  • October 8, 2025
  • July 9, 2025

Recent SEC filings

Data status

When each part of this page on AZZ Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

AZZ Inc in brief

What does AZZ Inc do?
AZZ Inc is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in February.
What is AZZ Inc's stock ticker?
AZZ Inc trades under the ticker AZZ on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is AZZ Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, AZZ Inc reported revenue of $1.7B, 9.5% higher than a year earlier, according to its SEC filings.
What is AZZ Inc's free cash flow?
AZZ Inc's free-cash-flow margin is 12.3% of revenue over the trailing twelve months, ranking 26 of the 76 industrial machinery & supplies & components companies we cover.
What is AZZ Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of AZZ Inc's free cash flow after stock-based pay gives ~$220 per share in the base case, and ~$160–$290 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
What is AZZ Inc's market cap?
On November 2, 2026, AZZ Inc's market capitalisation was about $4.1B, with a price-to-earnings ratio of 24.7 and net debt of $498M. Market figures come from third-party market data and may be delayed.
Does AZZ Inc pay a dividend?
Yes: AZZ Inc paid $25.2M in dividends over the trailing twelve months, a dividend yield of 0.61% and a payout ratio of 15.0%.
How much debt does AZZ Inc have?
AZZ Inc's debt-to-equity ratio is 33.1%, from its latest balance sheet (33.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are AZZ Inc's competitors?
In our Industrial Machinery & Supplies & Components peer group, the companies closest to AZZ Inc are Park Ohio Holdings Corp, Atmus Filtration Technologies Inc., MSA Safety Inc, RBC Bearings Inc and Columbus Mckinnon Corp. The side-by-side comparison below sets their revenue, margins and growth against AZZ Inc's.
Are insiders buying or selling AZZ Inc stock?
Over the last 12 months, AZZ Inc's directors and officers reported 0 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is AZZ Inc's next earnings date?
Around January 6, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — AZZ Inc announces its own schedule.