AZZ INC AZZ
AZZ Inc. ("AZZ", the "Company", "our" or "we") was established in 1956 and incorporated under the laws of the state of Texas. We are a provider of hot-dip galvanizing and coil coating solutions to a broad range of end markets in North America. We have three distinct operating segments: the AZZ Metal Coatings segment, the AZZ Precoat Metals segment, and the AZZ Infrastructure Solutions segment. Our AZZ Metal Coatings segment is a leading provider of metal coating solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing and plating to the North American steel fabrication industry and other industries. The AZZ Precoat Metals segment provides aesthetic and corrosion protective coatings and related value-added services for steel and aluminum coil, primarily serving the construction; appliance; heating, ventilation, and air conditioning (HVAC); container; transportation and other end markets in North America. The AZZ Infrastructure Solutions segment ("AIS") represents our 40% non-controlling interest in the AIS Investment Holdings LLC (the "AVAIL JV"). AIS Investment Holdings LLC is primarily dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in markets worldwide.
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 | $1.65B | $1.58B | $1.54B | $1.32B | $525.6M | $480.6M | $1.06B | $927.1M | $810.4M | $863.5M |
| Cost of revenue | $1.26B | $1.20B | $1.17B | $1.03B | $379.4M | $357.7M | $824.6M | $728.5M | $650.1M | $658.2M |
| Gross profit | $395.0M | $382.7M | $363.5M | $295.9M | $146.2M | $122.9M | $237.2M | $198.6M | $160.3M | $205.3M |
| SG&A | $130.3M | $146.3M | $141.9M | $122.3M | $66.9M | $59.3M | $139.3M | $121.7M | $112.1M | $106.4M |
| Operating income | $264.6M | $236.4M | $221.6M | $173.6M | $79.2M | $47.5M | $79.3M | $77.0M | $48.2M | $98.9M |
| Interest expense | $55.6M | $81.3M | $107.1M | $88.8M | $6.4M | $9.5M | $13.5M | $15.0M | $13.9M | $14.7M |
| Pre-tax income | $420.3M | $170.7M | $130.1M | $88.7M | $73.0M | $38.4M | $64.9M | $63.0M | $30.9M | $85.3M |
| Income tax | $103.1M | $41.9M | $28.5M | $22.3M | $23.2M | $11.2M | $16.7M | $11.8M | $14.3M | $24.0M |
| Net income | $317.3M | $52.4M | $87.2M | -$61.2M | $84.0M | $39.6M | $48.2M | $51.2M | $45.2M | $61.3M |
| EPS, basic | 10.59 | 1.80 | 3.48 | -2.47 | 3.38 | 1.53 | 1.84 | 1.97 | 1.74 | 2.36 |
| EPS, diluted | 10.50 | 1.79 | 3.46 | -2.45 | 3.35 | 1.52 | 1.84 | 1.96 | 1.73 | 2.35 |
| Shares, diluted (wtd. avg.) | $30.2M | $29.3M | $25.2M | $25.0M | $25.1M | $26.0M | $26.3M | $26.1M | $26.0M | $26.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $705.0K | $1.5M | $4.3M | $2.8M | $12.1M | $11.8M | $36.7M | $24.0M | $20.9M | $11.3M |
| Receivables | $142.6M | $135.1M | $142.2M | $156.4M | $85.1M | $128.8M | $139.2M | $144.9M | $141.5M | $138.5M |
| Inventory | $113.4M | $112.3M | $117.7M | $143.9M | — | — | $99.8M | $124.8M | $110.8M | $94.0M |
| Total current assets | $395.4M | $375.4M | $367.0M | $417.4M | $386.5M | $305.1M | $354.6M | $378.5M | $329.2M | $297.1M |
| Property, plant and equipment | $609.3M | $592.9M | $541.7M | $498.5M | $193.4M | $207.1M | $213.1M | $210.2M | $216.9M | $228.6M |
| Goodwill | $714.8M | $703.9M | $705.5M | $702.5M | $190.4M | $353.9M | $356.2M | $323.8M | $321.3M | $306.6M |
| Other intangibles | $409.7M | $421.9M | $445.4M | $469.4M | $39.1M | $91.4M | $106.7M | $130.2M | $160.9M | $146.1M |
| Total assets | $2.21B | $2.23B | $2.20B | $2.22B | $1.13B | $999.2M | $1.07B | $1.09B | $1.03B | $978.4M |
| Accounts payable | $114.6M | $106.5M | $88.0M | $84.3M | $24.8M | $41.5M | $62.0M | $53.0M | $54.2M | $49.8M |
| Short-term debt | — | — | — | — | $0 | $0 | $125.0M | $0 | $14.3M | $16.6M |
| Total current liabilities | $232.3M | $221.0M | $194.3M | $187.2M | $150.5M | $116.6M | $280.6M | $164.8M | $131.7M | $136.8M |
| Long-term debt | $477.7M | $852.4M | $952.7M | $1.06B | $226.5M | $178.4M | $77.9M | $240.7M | $286.6M | $254.8M |
| Total liabilities | $876.4M | $1.18B | $1.26B | $1.37B | $465.7M | $375.9M | $439.5M | $484.8M | $463.0M | $445.2M |
| Retained earnings | $883.5M | $609.2M | $576.2M | $506.0M | $584.2M | $547.3M | $572.4M | $547.7M | $526.0M | $498.5M |
| Total equity | $1.34B | $1.05B | $700.8M | $619.7M | $667.4M | $623.3M | $634.4M | $603.7M | $565.2M | $533.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $525.4M | $249.9M | $244.5M | $91.4M | $60.6M | $109.1M | $142.3M | $110.5M | $76.8M | $111.2M |
| Depreciation and amortisation | $90.1M | $82.2M | $79.4M | $74.6M | $32.1M | $32.1M | $50.2M | $50.2M | $50.5M | $50.4M |
| Stock-based compensation | $14.8M | $13.3M | $9.5M | $8.4M | $9.4M | $7.3M | $6.3M | $4.7M | $6.1M | $5.9M |
| Capital expenditure | $80.8M | $115.9M | $95.1M | $57.1M | $23.6M | $27.2M | $32.6M | $24.6M | $29.6M | $41.4M |
| Investing cash flow | -$91.5M | -$115.0M | -$95.1M | -$1.23B | -$82.1M | -$19.1M | -$69.3M | -$31.1M | -$73.9M | -$63.3M |
| Financing cash flow | -$434.1M | -$138.7M | -$147.9M | $1.03B | $912.0K | -$88.4M | -$59.7M | -$74.8M | $5.9M | -$76.6M |
| Dividends paid | $23.1M | $23.1M | $31.4M | $22.7M | $16.9M | $17.6M | $17.8M | $17.7M | $17.7M | $16.6M |
| Buybacks | $20.0M | $0 | $0 | $0 | $30.8M | $48.3M | $5.8M | $0 | $7.5M | $5.3M |
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 0001104659-26-066068.
Others in SIC 3470
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|---|---|---|---|---|
| XPEL | XPEL, Inc. | $1.42B | 27.8x | 13.3% |
| NTIC | NORTHERN TECHNOLOGIES INTERNATIONAL CORP | $75.9M | — | -1.0% |