AZZ Inc. (AZZ) Balance Sheet
AZZ balance sheet, FY2026
February 28, 2026 · U.S. dollars$2.21B assets = $876.4M liabilities + $1.34B equity
Both columns are drawn to the same scale: what AZZ owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AZZ financial health
Current ratio1.70
Comfortable · current assets cover current liabilities 1.70×
Debt / equity0.40
Low leverage · $0.40 of debt for each $1 of equity
Equity / assets60.4%
Equity-funded · of assets funded by shareholders
Cash / debt0.1%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles50.8%
Mostly intangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
AZZ balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $977.8MFY2017 | $2.21BFY2026 | +9.5%/yr | |
| Total liabilities | $448.2MFY2017 | $876.4MFY2026 | +7.7%/yr | |
| Shareholders’ equity | $529.6MFY2017 | $1.34BFY2026 | +10.8%/yr | |
| Cash & short-term investments | $11.3MFY2017 | $705,000FY2026 | −26.5%/yr | |
| Total debt | $271.4MFY2017 | $538.4MFY2026 | +7.9%/yr | |
| Net cash (debt) | −$260.1MFY2017 | −$537.7MFY2026 | −$277.6M | |
| Working capital | $154.7MFY2017 | $163.1MFY2026 | +$8.4M | |
| Book value per share | $20.30FY2017 | $44.26FY2026 | +9.0%/yr | |
| Current ratio | 2.09FY2017 | 1.70FY2026 | −0.39 | |
| Debt / equity | 0.51FY2017 | 0.40FY2026 | −0.11 | |
| Shares outstanding | 26.1MFY2017 | 30.2MFY2026 | +1.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AZZ assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
AZZ liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
AZZ debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AZZ balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $705,000 | $1.5M | $4.3M | $2.8M | $12.1M | $14.8M | $36.7M | $24.0M | $20.9M | $11.3M |
| Cash & equivalents | $705,000 | $1.5M | $4.3M | $2.8M | $12.1M | $14.8M | $36.7M | $24.0M | $20.9M | $11.3M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $274.4M | $254.6M | $237.2M | $262.7M | $88.0M | $186.2M | $209.3M | $220.4M | $193.3M | $159.0M |
| Inventory | $113.4M | $112.3M | $117.7M | $143.9M | $83.0M | $92.9M | $99.8M | $124.8M | $110.8M | $123.2M |
| Other current assets | $6.8M | $7.1M | $7.8M | $8.0M | $203.5M | $9.6M | $8.7M | $9.2M | $4.3M | $3.0M |
| Total current assets | $395.4M | $375.4M | $367.0M | $417.4M | $386.5M | $303.5M | $354.6M | $378.5M | $329.2M | $296.5M |
| Property, plant & equipment (net) | $668.9M | $618.9M | $565.4M | $498.5M | $230.8M | $205.9M | $213.1M | $210.2M | $216.9M | $228.6M |
| Goodwill & intangible assets | $1.12B | $1.13B | $1.15B | $1.18B | $467.2M | $449.2M | $463.0M | $453.9M | $482.2M | $452.7M |
| Long-term investments | $20.0M | $99.4M | $98.2M | $84.8M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.8M | $7.7M | $14.0M | $38.8M | $48.5M | $37.8M | $43.2M | $45.9M | $0 | $0 |
| Total assets | $2.21B | $2.23B | $2.20B | $2.22B | $1.13B | $996.4M | $1.07B | $1.09B | $1.03B | $977.8M |
| Liabilities | ||||||||||
| Accounts payable | $114.6M | $106.5M | $88.0M | $109.9M | $24.8M | $41.0M | $62.0M | $53.0M | $54.2M | $49.8M |
| Short-term debt | $8.7M | $7.7M | $6.7M | $6.4M | $3.3M | $6.6M | $131.3M | $5.7M | $14.3M | $16.6M |
| Deferred revenue | $600,000 | — | $1.0M | $1.3M | $43.1M | $16.5M | $18.7M | $57.4M | $24.5M | $32.8M |
| Total current liabilities | $232.3M | $221.0M | $194.3M | $187.2M | $150.5M | $113.8M | $280.6M | $164.8M | $131.7M | $141.8M |
| Long-term debt | $477.7M | $857.6M | $956.0M | $1.06B | $226.5M | $178.4M | $77.9M | $240.7M | $286.6M | $254.8M |
| Lease obligations | $60.6M | $26.8M | $24.5M | $27.1M | $42.9M | $39.2M | $44.4M | $46.8M | — | — |
| Other long-term liabilities | $166.4M | $103.0M | $110.7M | $121.6M | $88.6M | $80.9M | $81.0M | $79.3M | $44.7M | $51.5M |
| Total liabilities | $876.4M | $1.18B | $1.26B | $1.37B | $465.7M | $373.1M | $439.5M | $484.8M | $463.0M | $448.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $29.9M | $29.9M | $25.1M | $24.9M | $24.7M | $25.1M | $26.1M | $26.1M | $26.0M | $26.0M |
| Retained earnings (deficit) | $883.5M | $609.2M | $576.2M | $506.0M | $584.2M | $547.3M | $572.4M | $560.2M | $526.0M | $495.0M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$7.5M | −$11.6M | −$3.9M | −$4.6M | −$27.3M | −$25.1M | −$30.9M | −$28.8M | −$25.2M | −$29.1M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $1.34B | $1.05B | $934.5M | $853.5M | $667.4M | $623.3M | $634.4M | $603.7M | $565.2M | $529.6M |
| Key figures | ||||||||||
| Total debt | $538.4M | $879.1M | $977.2M | $1.07B | $241.2M | $185.0M | $209.2M | $246.4M | $300.9M | $271.4M |
| Net cash (debt) | −$537.7M | −$877.6M | −$972.9M | −$1.06B | −$229.1M | −$170.2M | −$172.5M | −$222.4M | −$280.0M | −$260.1M |
| Working capital | $163.1M | $154.5M | $172.7M | $230.2M | $236.0M | $189.6M | $73.9M | $213.8M | $197.4M | $154.7M |
| Tangible book value | $212.5M | −$80.2M | −$216.4M | −$328.5M | $200.2M | $174.1M | $171.4M | $149.8M | $83.0M | $76.9M |
| Book value per share | $44.26 | $35.63 | $37.07 | $34.17 | $26.61 | $23.93 | $24.14 | $23.13 | $21.71 | $20.30 |
| Shares outstanding | 30.2M | 29.3M | 25.2M | 25.0M | 25.1M | 26.0M | 26.3M | 26.1M | 26.0M | 26.1M |
| Current ratio | 1.70 | 1.70 | 1.89 | 2.23 | 2.57 | 2.67 | 1.26 | 2.30 | 2.50 | 2.09 |
| Quick ratio | 1.18 | 1.16 | 1.24 | 1.42 | 0.66 | 1.77 | 0.88 | 1.48 | 1.63 | 1.20 |
| Debt / equity | 0.40 | 0.84 | 1.05 | 1.25 | 0.36 | 0.30 | 0.33 | 0.41 | 0.53 | 0.51 |
| Equity / assets | 60.4% | 46.9% | 42.6% | 38.4% | 58.9% | 62.6% | 59.1% | 55.5% | 55.0% | 54.2% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.0M | $1.1M | $705,000 | $623,000 | $897,000 | $3.0M | $1.5M | $1.5M | $2.2M | $10.5M | $4.3M | $7.5M |
| Cash & equivalents | $2.0M | $1.1M | $705,000 | $623,000 | $897,000 | $3.0M | $1.5M | $1.5M | $2.2M | $10.5M | $4.3M | $7.5M |
| Receivables | $199.1M | $184.6M | $274.4M | $283.7M | $267.5M | $277.5M | $254.6M | $267.5M | $269.9M | $255.1M | $237.2M | $249.2M |
| Inventory | $134.0M | $121.2M | $113.4M | $107.5M | $108.5M | $110.8M | $112.3M | $114.7M | $115.2M | $114.0M | $117.7M | $126.7M |
| Other current assets | $120.3M | $133.2M | $6.8M | $9.0M | $12.6M | $16.6M | $7.1M | $10.7M | $13.9M | $16.8M | $7.8M | $9.3M |
| Total current assets | $455.4M | $440.1M | $395.4M | $400.8M | $389.5M | $407.9M | $375.4M | $394.4M | $401.2M | $396.3M | $367.0M | $392.7M |
| Property, plant & equipment (net) | $707.9M | $670.4M | $668.9M | $635.0M | $632.8M | $625.4M | $618.9M | $606.1M | $591.8M | $577.9M | $565.4M | $548.2M |
| Goodwill & intangible assets | $1.16B | $1.12B | $1.12B | $1.13B | $1.14B | $1.12B | $1.13B | $1.13B | $1.14B | $1.14B | $1.15B | $1.16B |
| Long-term investments | $0 | $19.0M | $20.0M | $58.6M | $60.2M | $0 | $99.4M | $102.1M | $97.8M | $101.6M | $98.2M | $97.2M |
| Other non-current assets | $16.5M | $4.5M | $4.8M | $7.3M | $7.7M | $7.7M | $7.7M | $9.6M | $10.0M | $15.1M | $14.0M | $13.8M |
| Total assets | $2.34B | $2.25B | $2.21B | $2.23B | $2.23B | $2.16B | $2.23B | $2.24B | $2.24B | $2.24B | $2.20B | $2.21B |
| Liabilities | ||||||||||||
| Accounts payable | $126.0M | $122.1M | $114.6M | $117.2M | $114.5M | $107.2M | $106.5M | $97.8M | $108.7M | $116.8M | $88.0M | $95.2M |
| Short-term debt | $10.1M | $9.5M | $8.7M | $9.5M | $9.0M | $8.2M | $7.7M | $7.4M | $6.6M | $6.6M | $6.7M | $6.5M |
| Deferred revenue | — | $700,000 | $600,000 | $700,000 | $700,000 | $1.0M | — | $700,000 | $700,000 | $700,000 | $1.0M | $45,000 |
| Total current liabilities | $254.0M | $228.8M | $232.3M | $242.0M | $224.9M | $270.1M | $221.0M | $222.3M | $217.1M | $223.9M | $194.3M | $200.0M |
| Long-term debt | $0 | $480.6M | $477.7M | $545.6M | $576.2M | $577.9M | $857.6M | $883.6M | $912.6M | $929.8M | $952.7M | $980.0M |
| Lease obligations | — | $62.2M | $60.6M | $31.9M | $30.4M | $28.4M | $26.8M | $26.7M | $22.8M | $23.4M | $24.5M | $23.6M |
| Other long-term liabilities | $668.9M | $166.8M | $166.4M | $124.1M | $121.8M | $96.9M | $103.0M | $109.1M | $110.9M | $114.9M | $114.0M | $107.6M |
| Total liabilities | $922.9M | $876.3M | $876.4M | $911.7M | $923.0M | $944.9M | $1.18B | $1.21B | $1.24B | $1.27B | $1.26B | $1.29B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $29.9M | $30.0M | $29.9M | $29.9M | $30.1M | $30.0M | $29.9M | $29.9M | $29.9M | $29.8M | $25.1M | $25.1M |
| Retained earnings (deficit) | $980.8M | $929.6M | $883.5M | $873.6M | $858.3M | $775.0M | $609.2M | $594.0M | $565.5M | $535.2M | $576.2M | $566.2M |
| Accumulated other comprehensive income | −$6.4M | −$7.8M | −$7.5M | −$11.0M | −$9.7M | −$9.1M | −$11.6M | −$9.4M | −$6.9M | −$3.1M | −$3.9M | −$4.0M |
| Total shareholders' equity | $1.42B | $1.38B | $1.34B | $1.32B | $1.30B | $1.21B | $1.05B | $1.03B | $999.8M | $967.2M | $934.5M | $921.1M |
| Key figures | ||||||||||||
| Total debt | $560.4M | $542.8M | $538.4M | $566.6M | $597.3M | $598.2M | $879.1M | $906.2M | $935.4M | $953.2M | $977.2M | $1.00B |
| Net cash (debt) | −$558.4M | −$541.8M | −$537.7M | −$566.0M | −$596.4M | −$595.1M | −$877.6M | −$904.8M | −$933.3M | −$942.6M | −$972.9M | −$996.1M |
| Working capital | $201.4M | $211.2M | $163.1M | $158.7M | $164.5M | $137.8M | $154.5M | $172.1M | $184.0M | $172.5M | $172.7M | $192.7M |
| Tangible book value | $256.9M | $257.6M | $212.5M | $190.0M | $167.2M | $96.2M | −$80.2M | −$102.8M | −$139.9M | −$177.5M | −$216.4M | −$235.6M |
| Book value per share | $46.98 | $45.63 | $44.36 | $43.69 | $43.08 | $40.19 | $34.65 | $34.19 | $33.26 | $36.16 | $36.87 | $31.41 |
| Shares outstanding | 30.1M | 30.2M | 30.1M | 30.2M | 30.2M | 30.2M | 30.2M | 30.1M | 30.1M | 26.8M | 25.3M | 29.3M |
| Current ratio | 1.79 | 1.92 | 1.70 | 1.66 | 1.73 | 1.51 | 1.70 | 1.77 | 1.85 | 1.77 | 1.89 | 1.96 |
| Quick ratio | 0.79 | 0.81 | 1.18 | 1.17 | 1.19 | 1.04 | 1.16 | 1.21 | 1.25 | 1.19 | 1.24 | 1.28 |
| Debt / equity | 0.40 | 0.39 | 0.40 | 0.43 | 0.46 | 0.49 | 0.84 | 0.88 | 0.94 | 0.99 | 1.05 | 1.09 |
| Equity / assets | 60.5% | 61.1% | 60.4% | 59.1% | 58.5% | 56.2% | 46.9% | 45.9% | 44.6% | 43.3% | 42.6% | 41.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 22, 2026); data from EODHD.
AZZ financial position
At the end of fiscal 2026 (February 28, 2026), AZZ had total assets of $2.2 billion (down 0.6% from a year earlier), total liabilities of $876.4 million and shareholders' equity of $1.3 billion. It held $0.7 million in cash and short-term investments against $538.4 million of debt, net debt of $537.7 million. Its current ratio was 1.70. In the latest quarter (ended August 31, 2026) total assets were $2.3 billion and equity $1.4 billion.
Related: AZZ income statement, AZZ cash flow statement, AZZ key metrics. See the AZZ stock overview for the latest quote and news.
AZZ balance sheet FAQ
What are AZZ's total assets?
AZZ reported total assets of $2.2 billion at the end of fiscal 2026 (February 28, 2026), compared with $2.2 billion a year earlier.
How much debt does AZZ have?
AZZ had $538.4 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.40.
How much cash does AZZ have?
AZZ held $0.7 million in cash and short-term investments at the end of fiscal 2026; with $538.4 million of debt that is net debt of $537.7 million.
What is AZZ's book value?
AZZ's shareholders' equity (book value) was $1.3 billion at the end of fiscal 2026, or $44.26 per share.
What is AZZ's current ratio?
AZZ had current assets of $395.4 million and current liabilities of $232.3 million, a current ratio of 1.70 (it can cover its short-term obligations).
How much goodwill does AZZ have?
AZZ carried $1.1 billion of goodwill and intangible assets, 50.8% of total assets, at the end of fiscal 2026.