ALBANY INTERNATIONAL CORP /DE/ AIN
Founded in 1895, Albany International Corp. is a global leader in advanced textiles and materials processing specializing in designing and manufacturing high-performance engineered fabrics and composite components and assemblies that serve industries such as paper, industrial manufacturing, and aerospace. The terms the Registrant, the Company, Albany, we, us, or our mean Albany International Corp. and its subsidiaries, unless the context indicates another meaning.
The following description of our business should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" within Item 7 of this Annual Report on Form 10-K, including the information contained therein under the heading "Business Environment Overview and Trends."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.18B | $1.23B | $1.15B | $1.03B | $929.2M | $900.6M | $1.05B | $982.5M | $863.7M | $779.8M |
| Cost of revenue | $938.9M | $828.8M | $724.2M | $645.1M | $550.8M | $529.5M | $656.4M | $632.7M | $567.4M | $478.6M |
| Gross profit | $243.9M | $401.8M | $423.7M | $389.8M | $378.4M | $371.1M | $397.7M | $349.7M | $296.3M | $301.3M |
| R&D | — | — | $40.6M | $39.9M | $38.9M | $25.8M | $26.9M | $29.8M | $30.7M | $28.8M |
| SG&A | $218.3M | $210.9M | $214.9M | $168.7M | $160.1M | $163.9M | $163.7M | $156.2M | $162.9M | $158.4M |
| Operating income | -$36.1M | $131.4M | $167.9M | $181.0M | $178.0M | $166.1M | $193.6M | $137.4M | $78.7M | $94.1M |
| Interest expense | $25.8M | $16.6M | $20.2M | $17.8M | $17.4M | $16.3M | $19.6M | $20.2M | $18.6M | $15.5M |
| Pre-tax income | -$61.8M | $117.1M | $160.5M | $132.0M | $165.9M | $139.1M | $178.2M | $115.2M | $54.7M | $78.3M |
| Income tax | $4.8M | $29.0M | $48.8M | $35.5M | $47.2M | $41.8M | $44.8M | $32.2M | $22.1M | $25.5M |
| Net income | -$57.3M | $87.6M | $111.1M | $95.8M | $118.5M | $98.6M | $132.4M | $82.9M | $33.1M | $52.7M |
| EPS, basic | -1.94 | 2.81 | 3.56 | 3.06 | 3.66 | 3.05 | 4.10 | 2.57 | 1.03 | 1.64 |
| EPS, diluted | -1.94 | 2.80 | 3.55 | 3.04 | 3.65 | 3.05 | 4.10 | 2.57 | 1.03 | 1.64 |
| Shares, diluted (wtd. avg.) | $29.6M | $31.3M | $31.3M | $31.5M | $32.5M | $32.4M | $32.3M | $32.3M | $32.2M | $32.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $112.3M | $115.3M | $173.4M | $291.8M | $302.0M | $241.3M | $195.5M | $197.8M | $183.7M | $181.7M |
| Receivables | $235.1M | $246.7M | $287.8M | $200.0M | $192.0M | $188.4M | $218.3M | $223.2M | $202.7M | $171.2M |
| Inventory | $121.6M | $145.8M | $169.6M | $139.1M | $117.9M | $110.5M | $95.1M | $85.9M | $136.5M | $133.9M |
| Total current assets | $928.8M | $730.7M | $878.0M | $838.4M | $758.8M | $717.3M | $618.3M | $593.0M | $543.7M | $501.3M |
| Property, plant and equipment | $482.6M | $563.4M | $602.0M | $445.7M | — | — | $466.5M | $462.1M | $454.3M | $422.6M |
| Goodwill | $162.5M | $176.3M | $180.2M | $178.2M | $182.1M | $187.6M | $180.9M | $164.4M | $166.8M | $160.4M |
| Other intangibles | $21.4M | $38.1M | $38.6M | $33.8M | $39.1M | $46.9M | $52.9M | $49.2M | $55.4M | $66.5M |
| Total assets | $1.72B | $1.65B | $1.84B | $1.64B | $1.56B | $1.55B | $1.47B | $1.42B | $1.36B | $1.26B |
| Accounts payable | $64.5M | $66.1M | $87.1M | $69.7M | $69.0M | $49.2M | $65.2M | $52.2M | $44.9M | $43.3M |
| Short-term debt | $0 | $0 | $4.2M | $0 | $0 | $9.0K | $20.0K | $1.2M | $1.8M | $51.7M |
| Total current liabilities | $442.3M | $226.4M | $248.7M | $211.3M | $208.2M | $190.9M | $202.7M | $189.3M | $161.5M | $200.0M |
| Long-term debt | $455.7M | $318.5M | $452.7M | $439.0M | $350.0M | $398.0M | $424.0M | $523.7M | $514.1M | $432.9M |
| Total liabilities | $986.6M | $699.7M | $867.7M | $774.7M | $678.5M | $730.1M | $771.7M | $809.7M | $788.2M | $752.1M |
| Retained earnings | $976.4M | $1.07B | $1.01B | $931.3M | $863.1M | $770.7M | $698.5M | $589.6M | $534.1M | $522.9M |
| Total equity | $726.2M | $943.5M | $967.3M | $867.5M | $877.6M | $819.9M | $702.7M | $608.3M | $573.0M | $511.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $152.5M | $218.4M | $148.1M | $128.2M | $217.5M | $140.3M | $200.4M | $132.5M | $64.2M | $80.9M |
| Depreciation and amortisation | $82.7M | $82.5M | $70.4M | $69.0M | $74.3M | $72.7M | $70.8M | $79.0M | $72.0M | $67.5M |
| Stock-based compensation | $10.1M | $4.7M | $6.9M | — | — | — | — | — | — | — |
| Capital expenditure | $69.8M | $80.2M | $83.6M | $93.7M | $52.8M | $41.5M | $67.4M | $81.6M | $85.5M | $71.2M |
| Investing cash flow | -$68.3M | -$80.2M | -$217.9M | -$96.3M | -$53.7M | -$42.4M | -$98.7M | -$82.9M | -$87.6M | -$253.6M |
| Financing cash flow | -$96.1M | -$183.8M | -$52.6M | -$23.7M | -$99.6M | -$60.7M | -$100.3M | -$27.3M | $12.9M | $172.0M |
| Dividends paid | $32.5M | $32.5M | $31.2M | $26.5M | $25.9M | $24.6M | $23.3M | $21.9M | $21.9M | $21.8M |
| Buybacks | $186.0M | $14.2M | $0 | $84.8M | $23.4M | $0 | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-012906.