ANDRITZ AG (AZ2.DE) Fundamental Analysis & Valuation

FRA:AZ2 • AT0000730007

68 EUR
+1.25 (+1.87%)
Last: Mar 10, 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

5

Overall AZ2 gets a fundamental rating of 5 out of 10. We evaluated AZ2 against 109 industry peers in the Machinery industry. AZ2 scores excellent on profitability, but there are some minor concerns on its financial health. AZ2 has a valuation in line with the averages, but it does not seem to be growing. AZ2 also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

7

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.
  • Of the past 5 years AZ2 4 years were profitable.
  • Of the past 5 years AZ2 4 years had a positive operating cash flow.
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 75.23% of the companies in the same industry.
  • AZ2's Return On Equity of 19.97% is amongst the best of the industry. AZ2 outperforms 87.16% of its industry peers.
  • AZ2 has a better Return On Invested Capital (12.84%) than 87.16% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for AZ2 is above the industry average of 8.83%.
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 has a better Profit Margin (5.84%) than 66.06% of its industry peers.
  • In the last couple of years the Profit Margin of AZ2 has grown nicely.
  • The Operating Margin of AZ2 (7.53%) is better than 63.30% of its industry peers.
  • In the last couple of years the Operating Margin of AZ2 has grown nicely.
  • AZ2 has a Gross Margin of 51.89%. This is in the better half of the industry: AZ2 outperforms 68.81% of its industry peers.
  • 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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4

2. AZ2.DE Health Analysis

2.1 Basic Checks

  • AZ2 has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • AZ2 has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
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

  • AZ2 has an Altman-Z score of 2.44. This is not the best score and indicates that AZ2 is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.44, AZ2 is in line with its industry, outperforming 57.80% of the companies in the same industry.
  • The Debt to FCF ratio of AZ2 is 2.38, which is a good value as it means it would take AZ2, 2.38 years of fcf income to pay off 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 77.06% of the companies in the same industry.
  • A Debt/Equity ratio of 0.21 indicates that AZ2 is not too dependend on debt financing.
  • The Debt to Equity ratio of AZ2 (0.21) is better than 63.30% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 2.38
Altman-Z 2.44
ROIC/WACC1.79
WACC7.16%
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

  • AZ2 has a Current Ratio of 1.11. This is a normal value and indicates that AZ2 is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of AZ2 (1.11) is worse than 74.31% of its industry peers.
  • AZ2 has a Quick Ratio of 1.11. This is a bad value and indicates that AZ2 is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.84, AZ2 is doing worse than 62.39% 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 strongly by -31.83% in the last year.
  • AZ2 shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.38% yearly.
EPS 1Y (TTM)-31.83%
EPS 3Y-6.27%
EPS 5Y10.38%
EPS Q2Q%-79.7%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%2.85%

3.2 Future

  • AZ2 is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 24.11% yearly.
  • AZ2 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.73% yearly.
EPS Next Y64.67%
EPS Next 2Y35.57%
EPS Next 3Y24.11%
EPS Next 5YN/A
Revenue Next Year6.88%
Revenue Next 2Y6.92%
Revenue Next 3Y6.8%
Revenue Next 5Y6.73%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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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6

4. AZ2.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 19.94, which indicates a rather expensive current valuation of AZ2.
  • 68.81% of the companies in the same industry are more expensive than AZ2, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 26.25. AZ2 is valued slightly cheaper when compared to this.
  • AZ2 is valuated correctly with a Price/Forward Earnings ratio of 12.11.
  • Based on the Price/Forward Earnings ratio, AZ2 is valued a bit cheaper than the industry average as 74.31% of the companies are valued more expensively.
  • AZ2's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.39.
Industry RankSector Rank
PE 19.94
Fwd PE 12.11
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

  • 66.06% of the companies in the same industry are more expensive than AZ2, based on the Enterprise Value to EBITDA ratio.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as AZ2.
Industry RankSector Rank
P/FCF 20.71
EV/EBITDA 7.85
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's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of AZ2 may justify a higher PE ratio.
  • AZ2's earnings are expected to grow with 24.11% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.31
PEG (5Y)1.92
EPS Next 2Y35.57%
EPS Next 3Y24.11%

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

8

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 95.41% 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

  • 55.55% of the earnings are spent on dividend by AZ2. This is a bit on the high side, but may be sustainable.
  • AZ2's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP55.55%
EPS Next 2Y35.57%
EPS Next 3Y24.11%
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 (3/10/2026, 7:00:00 PM)

68

+1.25 (+1.87%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)03-05
Earnings (Next)04-29
Inst Owners31.64%
Inst Owner ChangeN/A
Ins Owners31.5%
Ins Owner ChangeN/A
Market Cap7.07B
Revenue(TTM)N/A
Net Income(TTM)456.90M
Analysts83.33
Price Target79.14 (16.38%)
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)4.6%
PT rev (3m)10.78%
EPS NQ rev (1m)-0.06%
EPS NQ rev (3m)-0.06%
EPS NY rev (1m)0.05%
EPS NY rev (3m)0.05%
Revenue NQ rev (1m)-4.06%
Revenue NQ rev (3m)-4.06%
Revenue NY rev (1m)-0.7%
Revenue NY rev (3m)-0.7%
Valuation
Industry RankSector Rank
PE 19.94
Fwd PE 12.11
P/S 0.9
P/FCF 20.71
P/OCF 12.97
P/B 3.09
P/tB 6.56
EV/EBITDA 7.85
EPS(TTM)3.41
EY5.01%
EPS(NY)5.61
Fwd EY8.25%
FCF(TTM)3.28
FCFY4.83%
OCF(TTM)5.24
OCFY7.71%
SpS75.23
BVpS22
TBVpS10.37
PEG (NY)0.31
PEG (5Y)1.92
Graham Number41.08
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 2.44
F-Score6
WACC7.16%
ROIC/WACC1.79
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)-31.83%
EPS 3Y-6.27%
EPS 5Y10.38%
EPS Q2Q%-79.7%
EPS Next Y64.67%
EPS Next 2Y35.57%
EPS Next 3Y24.11%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%2.85%
Revenue Next Year6.88%
Revenue Next 2Y6.92%
Revenue Next 3Y6.8%
Revenue Next 5Y6.73%
EBIT growth 1Y-14.61%
EBIT growth 3Y13.07%
EBIT growth 5Y19.71%
EBIT Next Year25.01%
EBIT Next 3Y14.7%
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 5 / 10 to AZ2.DE.


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

ChartMill assigns a valuation rating of 6 / 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 7 / 10.


How financially healthy is ANDRITZ AG?

The financial health rating of ANDRITZ AG (AZ2.DE) is 4 / 10.


Is the dividend of ANDRITZ AG sustainable?

The dividend rating of ANDRITZ AG (AZ2.DE) is 8 / 10 and the dividend payout ratio is 55.55%.