AZZ Incorporated
NYSE: AZZ · INDUSTRIALS · SPECIALTY BUSINESS SERVICES
Updated 2026-06-05
AZZ Incorporated (AZZ) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.93M | $38.93M | $60.20M | $82.63M | $42.09M | $64.06M | $92.74M | $107.28M | $118.16M | $143.59M | $111.18M | $78.91M | $114.67M | $144.76M | $92.03M | $86.01M | $91.43M | $244.47M | $249.91M | $525.45M |
| Capital expenditures | $10.66M | $9.93M | $20.01M | $12.04M | $16.41M | $19.78M | $24.92M | $43.47M | $29.38M | $39.86M | $41.43M | $29.61M | $25.62M | $35.04M | $37.08M | $28.41M | $57.12M | $95.12M | $115.88M | $80.78M |
| Depreciation | $6.66M | $8.20M | $14.53M | $17.43M | $22.17M | $22.59M | $29.36M | $43.30M | $46.09M | $47.42M | $50.36M | $50.53M | $50.24M | $50.19M | $44.60M | $44.66M | $74.59M | $79.42M | $82.20M | — |
| Stock-based comp | $-586001.00 | $50914.00 | $1.84M | $2.31M | $3.15M | $2.93M | $3.18M | $3.70M | $4.08M | $4.54M | $5.87M | $6.12M | $4.66M | $6.29M | $7.33M | $9.45M | $8.38M | $9.51M | $13.26M | $14.83M |
| Free cash flow | $-3.73M | $29.00M | $40.19M | $70.59M | $25.67M | $44.28M | $67.82M | $63.80M | $88.78M | $103.73M | $69.74M | $49.30M | $89.05M | $109.72M | $54.96M | $57.60M | $34.31M | $149.35M | $134.03M | $444.67M |
| Investing cash flow | $-23.34M | $-9.71M | $-112.81M | $-18.51M | $-120.27M | $-46.85M | $-150.14M | $-310.97M | $-39.56M | $-99.31M | $-63.34M | $-73.94M | $-32.07M | $-71.75M | $-28.59M | $-86.83M | $-1.23B | $-95.06M | $-115.00M | — |
| Financing cash flow | $16.85M | $-28.70M | $98.10M | $-1.01M | $106.09M | $-12.37M | $-30.36M | $176.33M | $-82.41M | $-25.32M | $-76.62M | $3.80M | $-78.00M | $-59.74M | $-88.42M | $912000.00 | $1.03B | $-147.89M | $-138.69M | — |
| Dividends paid | — | — | — | $3.09M | $12.47M | $12.57M | $13.42M | $14.29M | $14.90M | $15.48M | $16.64M | $17.68M | $17.72M | $17.82M | $17.64M | $16.87M | $22.74M | $31.42M | $23.11M | $23.07M |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | — | $4.91M | $-87.70M | $-28.03M | $-5.04M | $17.66M | $-28.89M | $9.55M | $3.15M | $12.68M | $-24.98M | $87000.00 | $-110.16M | — | — | — |
Frequently asked questions
What is AZZ Incorporated's revenue?
AZZ Incorporated's trailing twelve-month revenue is $1.65B, and consensus projects about $2.38B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is AZZ?
In its most recent fiscal year, AZZ ran a gross margin of 23.94%, an operating margin of 16.04%, and a net margin of 19.23%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does AZZ generate?
AZZ produced $444.67M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is AZZ's balance sheet healthy?
AZZ holds $705000.00 in cash and equivalents against $477.74M in long-term debt, on $1.34B of shareholder equity. That debt is best read against the cash flow the business throws off each year.