AZZ Inc. Cash Flow Statement

Financials in millions USD. Fiscal year is March - February.

Millions USD. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Net Income	321.54	128.83	101.61	-52.97	84.02	39.61
Depreciation & Amortization	87.8	82.21	79.42	74.59	32.08	32.09
Other Amortization	12.87	12.51	12.17	11.27	0.46	0.55
Loss (Gain) From Sale of Assets	-2.58	-0.37	0.06	-1.03	0.67	0.18
Asset Writedown & Restructuring Costs	3.74	-	-	0.14	-	16.11
Loss (Gain) on Equity Investments	43.9	-3.6	-12.29	-2.6	-	-
Stock-Based Compensation	13.92	13.26	9.51	8.38	9.45	7.33
Provision & Write-off of Bad Debts	5.23	5.06	-0.07	-0.06	-	0.21
Other Operating Activities	25.56	7.97	4.69	126.32	-30.26	-12.04
Change in Accounts Receivable	-23.46	-25.39	11.78	-16.96	-15.68	21.67
Change in Inventory	8.27	5.05	26.28	-17.2	-18.77	1.04
Change in Accounts Payable	23.57	23.48	-0.8	-14.04	5.72	18.81
Change in Income Taxes	9.74	0.43	-0.1	-3.25	4.38	-
Change in Other Net Operating Assets	-12.91	0.47	12.22	-21.16	-11.46	-16.45
Operating Cash Flow	517.18	249.91	244.47	70.16	86.01	92.04
Operating Cash Flow Growth	107.59%	2.23%	248.47%	-18.43%	-6.55%	-35.33%
Capital Expenditures	-88.66	-115.88	-95.12	-57.12	-23.59	-27.18
Sale of Property, Plant & Equipment	3.92	0.89	0.06	4.12	-	0.08
Cash Acquisitions	-30.14	-	-	-1,283	-61.22	-4.42
Divestitures	-	-	-	106.81	-	12.44
Other Investing Activities	-	-	-	-1.34	-2.03	-9.52
Investing Cash Flow	-114.89	-115	-95.06	-1,230	-86.84	-28.59
Long-Term Debt Issued	-	326	249	1,920	296	378
Long-Term Debt Repaid	-	-436.99	-364.42	-781.75	-248	-402
Net Debt Issued (Repaid)	-357.39	-110.99	-115.42	1,138	48	-24
Issuance of Common Stock	3.28	311.46	2.36	2.37	2.79	2.83
Repurchase of Common Stock	-25.28	-5.24	-1.71	-3	-33	-49.02
Preferred Dividends Paid	-	-	-14.4	-	-	-
Common Dividends Paid	-17.1	-	-17.02	-	-16.87	-17.64
Dividends Paid	-22.19	-23.11	-31.42	-22.74	-16.87	-17.64
Other Financing Activities	-1.54	-1.9	-1.7	32.45	-	-0.59
Financing Cash Flow	-403.11	-138.7	-147.89	1,147	0.91	-88.43
Foreign Exchange Rate Adjustments	-0.05	0.92	0.01	0.51	0.16	3.13
Net Cash Flow	-0.86	-2.86	1.53	-12.26	0.25	-21.85
Free Cash Flow	428.52	134.03	149.35	13.04	62.42	64.86
Free Cash Flow Growth	217.48%	-10.26%	1045.75%	-79.12%	-3.76%	-40.89%
Free Cash Flow Margin	26.50%	8.49%	9.71%	0.98%	11.88%	13.50%
Free Cash Flow Per Share	14.19	4.57	5.92	0.52	2.49	2.49
Cash Interest Paid	50.86	75.87	97.81	77.99	6.06	9
Cash Income Tax Paid	62	31.49	20.43	24.49	31.66	16.12
Levered Free Cash Flow	159.6	107.84	143.39	83.6	16.93	35
Unlevered Free Cash Flow	185.36	146.13	198.13	127.83	20.45	40.37
Change in Working Capital	5.21	4.04	49.37	-72.61	-35.81	25.07

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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