ANDRITZ AG (AZ2.DE) Fundamental Analysis & Valuation

FRA:AZ2 • AT0000730007

70.05 EUR
-2.35 (-3.25%)
Last: Mar 3, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This AZ2.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Overall AZ2 gets a fundamental rating of 6 out of 10. We evaluated AZ2 against 107 industry peers in the Machinery industry. AZ2 has an excellent profitability rating, but there are some minor concerns on its financial health. AZ2 is valued correctly, but it does not seem to be growing. Finally AZ2 also has an excellent dividend rating. These ratings would make AZ2 suitable for dividend investing!


Dividend Valuation Growth Profitability Health

8

1. AZ2.DE Profitability Analysis

1.1 Basic Checks

  • AZ2 had positive earnings in the past year.
  • AZ2 had a positive operating cash flow in the past year.
  • In the past 5 years AZ2 has always been profitable.
  • AZ2 had a positive operating cash flow in each of the past 5 years.
AZ2.DE Yearly Net Income VS EBIT VS OCF VS FCFAZ2.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.55%, AZ2 is in the better half of the industry, outperforming 75.70% of the companies in the same industry.
  • AZ2 has a Return On Equity of 19.97%. This is amongst the best in the industry. AZ2 outperforms 88.78% of its industry peers.
  • With an excellent Return On Invested Capital value of 12.84%, AZ2 belongs to the best of the industry, outperforming 87.85% of the companies in the same industry.
  • AZ2 had an Average Return On Invested Capital over the past 3 years of 13.75%. This is above the industry average of 8.81%.
Industry RankSector Rank
ROA 5.55%
ROE 19.97%
ROIC 12.84%
ROA(3y)5.64%
ROA(5y)4.82%
ROE(3y)22.46%
ROE(5y)20.91%
ROIC(3y)13.75%
ROIC(5y)11.75%
AZ2.DE Yearly ROA, ROE, ROICAZ2.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • AZ2's Profit Margin of 5.84% is fine compared to the rest of the industry. AZ2 outperforms 66.36% of its industry peers.
  • AZ2's Profit Margin has improved in the last couple of years.
  • AZ2 has a better Operating Margin (7.53%) than 62.62% of its industry peers.
  • AZ2's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 51.89%, AZ2 is in the better half of the industry, outperforming 71.03% of the companies in the same industry.
  • AZ2's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.53%
PM (TTM) 5.84%
GM 51.89%
OM growth 3Y3.96%
OM growth 5Y14.56%
PM growth 3Y5.84%
PM growth 5Y25.54%
GM growth 3Y0.42%
GM growth 5Y-0.28%
AZ2.DE Yearly Profit, Operating, Gross MarginsAZ2.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

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5

2. AZ2.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), AZ2 is creating value.
  • The number of shares outstanding for AZ2 has been reduced compared to 1 year ago.
  • Compared to 5 years ago, AZ2 has less shares outstanding
  • AZ2 has a better debt/assets ratio than last year.
AZ2.DE Yearly Shares OutstandingAZ2.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
AZ2.DE Yearly Total Debt VS Total AssetsAZ2.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

  • An Altman-Z score of 2.46 indicates that AZ2 is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.46, AZ2 is in line with its industry, outperforming 59.81% of the companies in the same industry.
  • AZ2 has a debt to FCF ratio of 2.38. This is a good value and a sign of high solvency as AZ2 would need 2.38 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 2.38, AZ2 is in the better half of the industry, outperforming 77.57% of the companies in the same industry.
  • AZ2 has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.21, AZ2 is in the better half of the industry, outperforming 63.55% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 2.38
Altman-Z 2.46
ROIC/WACC1.77
WACC7.27%
AZ2.DE Yearly LT Debt VS Equity VS FCFAZ2.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

  • A Current Ratio of 1.11 indicates that AZ2 should not have too much problems paying its short term obligations.
  • AZ2 has a Current ratio of 1.11. This is in the lower half of the industry: AZ2 underperforms 73.83% of its industry peers.
  • A Quick Ratio of 0.84 indicates that AZ2 may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.84, AZ2 is doing worse than 61.68% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.11
Quick Ratio 0.84
AZ2.DE Yearly Current Assets VS Current LiabilitesAZ2.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. AZ2.DE Growth Analysis

3.1 Past

  • The earnings per share for AZ2 have decreased by -7.36% in the last year.
  • The Earnings Per Share has been growing by 31.53% on average over the past years. This is a very strong growth
  • Looking at the last year, AZ2 shows a decrease in Revenue. The Revenue has decreased by -7.68% in the last year.
  • AZ2 shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.49% yearly.
EPS 1Y (TTM)-7.36%
EPS 3Y15.21%
EPS 5Y31.53%
EPS Q2Q%-4.2%
Revenue 1Y (TTM)-7.68%
Revenue growth 3Y8.76%
Revenue growth 5Y4.49%
Sales Q2Q%-7.57%

3.2 Future

  • AZ2 is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.84% yearly.
  • The Revenue is expected to grow by 4.81% on average over the next years.
EPS Next Y-4.79%
EPS Next 2Y6.35%
EPS Next 3Y8.21%
EPS Next 5Y6.84%
Revenue Next Year-5.77%
Revenue Next 2Y0.37%
Revenue Next 3Y2.62%
Revenue Next 5Y4.81%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
AZ2.DE Yearly Revenue VS EstimatesAZ2.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B 8B 10B
AZ2.DE Yearly EPS VS EstimatesAZ2.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6

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5

4. AZ2.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 15.03, AZ2 is valued correctly.
  • Based on the Price/Earnings ratio, AZ2 is valued cheaper than 80.37% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.83. AZ2 is valued slightly cheaper when compared to this.
  • A Price/Forward Earnings ratio of 12.39 indicates a correct valuation of AZ2.
  • Based on the Price/Forward Earnings ratio, AZ2 is valued a bit cheaper than 68.22% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of AZ2 to the average of the S&P500 Index (24.95), we can say AZ2 is valued rather cheaply.
Industry RankSector Rank
PE 15.03
Fwd PE 12.39
AZ2.DE Price Earnings VS Forward Price EarningsAZ2.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • AZ2's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. AZ2 is cheaper than 66.36% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as AZ2.
Industry RankSector Rank
P/FCF 21.34
EV/EBITDA 8.11
AZ2.DE Per share dataAZ2.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • AZ2 has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.48
EPS Next 2Y6.35%
EPS Next 3Y8.21%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. AZ2.DE Dividend Analysis

5.1 Amount

  • AZ2 has a Yearly Dividend Yield of 4.26%, which is a nice return.
  • Compared to an average industry Dividend Yield of 1.45, AZ2 pays a better dividend. On top of this AZ2 pays more dividend than 94.39% of the companies listed in the same industry.
  • AZ2's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 4.26%

5.2 History

  • The dividend of AZ2 is nicely growing with an annual growth rate of 10.14%!
Dividend Growth(5Y)10.14%
Div Incr Years4
Div Non Decr Years4
AZ2.DE Yearly Dividends per shareAZ2.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

  • AZ2 pays out 55.55% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • AZ2's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP55.55%
EPS Next 2Y6.35%
EPS Next 3Y8.21%
AZ2.DE Yearly Income VS Free CF VS DividendAZ2.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M
AZ2.DE Dividend Payout.AZ2.DE Dividend Payout, showing the Payout Ratio.AZ2.DE Dividend Payout.PayoutRetained Earnings

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AZ2.DE Fundamentals: All Metrics, Ratios and Statistics

ANDRITZ AG

FRA:AZ2 (3/3/2026, 7:00:00 PM)

70.05

-2.35 (-3.25%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)10-30
Earnings (Next)03-05
Inst Owners31.57%
Inst Owner ChangeN/A
Ins Owners31.5%
Ins Owner ChangeN/A
Market Cap7.29B
Revenue(TTM)7.82B
Net Income(TTM)456.90M
Analysts84.62
Price Target79.14 (12.98%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.26%
Yearly Dividend2.53
Dividend Growth(5Y)10.14%
DP55.55%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-4.65%
Min EPS beat(2)-6.4%
Max EPS beat(2)-2.9%
EPS beat(4)1
Avg EPS beat(4)-3.37%
Min EPS beat(4)-7.74%
Max EPS beat(4)3.55%
EPS beat(8)2
Avg EPS beat(8)-3.46%
EPS beat(12)5
Avg EPS beat(12)0.61%
EPS beat(16)7
Avg EPS beat(16)0.02%
Revenue beat(2)0
Avg Revenue beat(2)-4.13%
Min Revenue beat(2)-4.94%
Max Revenue beat(2)-3.31%
Revenue beat(4)0
Avg Revenue beat(4)-4.59%
Min Revenue beat(4)-6.17%
Max Revenue beat(4)-3.31%
Revenue beat(8)1
Avg Revenue beat(8)-3.44%
Revenue beat(12)5
Avg Revenue beat(12)0.03%
Revenue beat(16)7
Avg Revenue beat(16)0.36%
PT rev (1m)10.78%
PT rev (3m)9.62%
EPS NQ rev (1m)-0.06%
EPS NQ rev (3m)-0.06%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.49%
Revenue NQ rev (1m)-4.06%
Revenue NQ rev (3m)-4.06%
Revenue NY rev (1m)-0.52%
Revenue NY rev (3m)-0.41%
Valuation
Industry RankSector Rank
PE 15.03
Fwd PE 12.39
P/S 0.93
P/FCF 21.34
P/OCF 13.36
P/B 3.18
P/tB 6.76
EV/EBITDA 8.11
EPS(TTM)4.66
EY6.65%
EPS(NY)5.66
Fwd EY8.07%
FCF(TTM)3.28
FCFY4.69%
OCF(TTM)5.24
OCFY7.49%
SpS75.23
BVpS22
TBVpS10.37
PEG (NY)N/A
PEG (5Y)0.48
Graham Number48.02
Profitability
Industry RankSector Rank
ROA 5.55%
ROE 19.97%
ROCE 17.11%
ROIC 12.84%
ROICexc 19.12%
ROICexgc 40.04%
OM 7.53%
PM (TTM) 5.84%
GM 51.89%
FCFM 4.36%
ROA(3y)5.64%
ROA(5y)4.82%
ROE(3y)22.46%
ROE(5y)20.91%
ROIC(3y)13.75%
ROIC(5y)11.75%
ROICexc(3y)27.92%
ROICexc(5y)23.65%
ROICexgc(3y)67%
ROICexgc(5y)55.73%
ROCE(3y)18.46%
ROCE(5y)15.74%
ROICexgc growth 3Y1.37%
ROICexgc growth 5Y14.82%
ROICexc growth 3Y6.72%
ROICexc growth 5Y18.35%
OM growth 3Y3.96%
OM growth 5Y14.56%
PM growth 3Y5.84%
PM growth 5Y25.54%
GM growth 3Y0.42%
GM growth 5Y-0.28%
F-Score6
Asset Turnover0.95
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 2.38
Debt/EBITDA 0.58
Cap/Depr 84.54%
Cap/Sales 2.61%
Interest Coverage 17.24
Cash Conversion 65.65%
Profit Quality 74.72%
Current Ratio 1.11
Quick Ratio 0.84
Altman-Z 2.46
F-Score6
WACC7.27%
ROIC/WACC1.77
Cap/Depr(3y)72.22%
Cap/Depr(5y)59.44%
Cap/Sales(3y)2.06%
Cap/Sales(5y)1.84%
Profit Quality(3y)89.01%
Profit Quality(5y)115.27%
High Growth Momentum
Growth
EPS 1Y (TTM)-7.36%
EPS 3Y15.21%
EPS 5Y31.53%
EPS Q2Q%-4.2%
EPS Next Y-4.79%
EPS Next 2Y6.35%
EPS Next 3Y8.21%
EPS Next 5Y6.84%
Revenue 1Y (TTM)-7.68%
Revenue growth 3Y8.76%
Revenue growth 5Y4.49%
Sales Q2Q%-7.57%
Revenue Next Year-5.77%
Revenue Next 2Y0.37%
Revenue Next 3Y2.62%
Revenue Next 5Y4.81%
EBIT growth 1Y-14.61%
EBIT growth 3Y13.07%
EBIT growth 5Y19.71%
EBIT Next Year25.01%
EBIT Next 3Y14.77%
EBIT Next 5Y12.61%
FCF growth 1Y88.93%
FCF growth 3Y2.58%
FCF growth 5Y-8.28%
OCF growth 1Y58.96%
OCF growth 3Y6.07%
OCF growth 5Y-5.06%

ANDRITZ AG / AZ2.DE FAQ

Can you provide the ChartMill fundamental rating for ANDRITZ AG?

ChartMill assigns a fundamental rating of 6 / 10 to AZ2.DE.


What is the valuation status of ANDRITZ AG (AZ2.DE) stock?

ChartMill assigns a valuation rating of 5 / 10 to ANDRITZ AG (AZ2.DE). This can be considered as Fairly Valued.


What is the profitability of AZ2 stock?

ANDRITZ AG (AZ2.DE) has a profitability rating of 8 / 10.


How financially healthy is ANDRITZ AG?

The financial health rating of ANDRITZ AG (AZ2.DE) is 5 / 10.


Is the dividend of ANDRITZ AG sustainable?

The dividend rating of ANDRITZ AG (AZ2.DE) is 7 / 10 and the dividend payout ratio is 55.55%.