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How does AZ2.DE make money? Does AZ2.DE have pricing power? What's the Earnings Whisper? Will AZ2.DE profit more as the business scales? What is AZ2.DE's management track record? Is AZ2.DE's current price justified?

Andritz AG

€82.7 +$15.95 (+23.90%)

XETRA · 15 Sep 2026 15:35 UTC

Previous Close

€83.1

Day Range

€82.5€83.2

Year Range

€57.05€84.8

Market Cap

8.1B

AVG Volume

422

Trailing/Forward PE

17.41/13.34

PEG ratio

1.09

Dividend Yield

3.26%

Next Earnings Date

2026-10-29

Primary Exchange

Deutsche Börse

Revenue (EUR)

AZ2.DE Revenue (EUR) by year
Period	Revenue (EUR)
2025	7.88B
2024	8.31B
2023	8.66B
2022	7.54B
2021	6.46B
2020	6.7B
2019	6.67B
2018	6.03B
2017	5.89B
2016	6.04B

Net Income (EUR)

AZ2.DE Net Income (EUR) by year
Period	Net Income (EUR)
2025	456.3M
2024	496.5M
2023	510.2M
2022	409.6M
2021	325.5M
2020	207.12M
2019	127.8M
2018	221.99M
2017	262.97M
2016	274.65M

Operating Income (EUR)

AZ2.DE Operating Income (EUR) by year
Period	Operating Income (EUR)
2025	559M
2024	766.5M
2023	718.9M
2022	542.2M
2021	478.1M
2020	386.48M
2019	253.52M
2018	320.04M
2017	399.26M
2016	385.79M

EBITDA (EUR)

AZ2.DE EBITDA (EUR) by year
Period	EBITDA (EUR)
2025	866.2M
2024	922.4M
2023	959.7M
2022	815M
2021	720M
2020	582.86M
2019	549.87M
2018	527.21M
2017	580.6M
2016	592.63M

Cash Flows (EUR)

AZ2.DE Cash Flows (EUR) by year
Period	Cash Flows (EUR)
2025	454.6M
2024	457M
2023	204.2M
2022	555.8M
2021	419.3M
2020	373.59M
2019	699.54M
2018	-119.37M
2017	131.06M
2016	244.55M

EPS (EUR)

AZ2.DE EPS (EUR) by year
Period	EPS (EUR)
2025	4.65
2024	4.99
2023	5.13
2022	4.12
2021	3.24
2020	2.09
2019	1.28
2018	2.21
2017	2.6
2016	2.71

Expenses (EUR)

AZ2.DE Expenses (EUR) by year
Period	Expenses (EUR)
2025	1.6B
2024	1.23B
2023	1.33B
2022	1.21B
2021	966.7M
2020	2.01B
2019	2.28B
2018	2.1B
2017	2B
2016	1.86B

Cash & Debt (EUR)

AZ2.DE Cash & Debt (EUR) by year
Period	Cash & Debt (EUR)
2025	1.25B
2024	1.48B
2023	1.77B
2022	2.03B
2021	1.76B
2020	1.64B
2019	1.5B
2018	1.18B
2017	1.64B
2016	1.41B

Debt ratios

AZ2.DE Debt ratios by year
Period	Debt ratios
2025	-0.13
2024	-0.19
2023	-0.2
2022	-0.28
2021	-0.16
2020	-0.05
2019	0.05
2018	0.1

Margins

AZ2.DE Margins by year
Period	Margins
2025	18.49%
2024	26.83%
2023	38.65%
2022	47.91%
2021	48.73%
2020	45.39%
2019	50.05%
2018	50.44%
2017	49.22%
2016	48.54%

Return on Capital

AZ2.DE Return on Capital by year
Period	Return on Capital
2025	18.58%
2024	21.78%
2023	23.65%
2022	22.33%
2021	20.77%
2020	16.49%
2019	10.48%
2018	16.68%
2017	19.84%
2016	20.43%

Shares Outstanding

AZ2.DE Shares Outstanding by year
Period	Shares Outstanding
2025	98M
2024	98.5M
2023	99.21M
2022	98.99M
2021	98.64M
2020	98.95M
2019	98.65M
2018	98.95M
2017	98.95M
2016	98.95M

Dividends (EUR)

AZ2.DE Dividends (EUR) by year
Period	Dividends (EUR)
2026	2.7
2025	2.6
2024	2.5
2023	2.1
2022	1.65
2021	1
2020	0.5
2019	1.55
2018	1.55
2017	1.5

Book Value Per Share (EUR)

AZ2.DE Book Value Per Share (EUR) by year
Period	Book Value Per Share (EUR)
2025	25.06
2024	23.15
2023	21.75
2022	18.54
2021	15.89
2020	12.69
2019	12.36
2018	13.45
2017	13.39
2016	13.58

Total Assets (EUR)

AZ2.DE Total Assets (EUR) by year
Period	Total Assets (EUR)
2025	9.13B
2024	8.16B
2023	9.02B
2022	8.49B
2021	7.67B
2020	7.06B
2019	7.23B
2018	6.92B
2017	6.27B
2016	6.2B

PE Ratio

AZ2.DE PE Ratio by year
Period	PE Ratio
Sep 26	17.77
Sep 26	18.05
Sep 26	18.11
Aug 26	17.68
Aug 26	17.36
Aug 26	17.45
Aug 26	17.53
Jul 26	17.32
Jul 26	16.61
Jul 26	15.88
Jul 26	15.64
Jul 26	16.11
Jun 26	16.49
Jun 26	16.75
Jun 26	16.58
Jun 26	16.41
May 26	16.62
May 26	16.43
May 26	15.91
May 26	16.09
Apr 26	15.4
Apr 26	14.84
Apr 26	15.14
Apr 26	14.58
Apr 26	13.03
Mar 26	13.32
Mar 26	12.81
Mar 26	13.58
Mar 26	14.48
Feb 26	15.66
Feb 26	15.62
Feb 26	15.52
Feb 26	15.17
Jan 26	15.52
Jan 26	15.29
Jan 26	15.23
Jan 26	14.88
Jan 26	14.25
Dec 25	13.86
Dec 25	13.86
Dec 25	13.24
Dec 25	13.75
Nov 25	13.15
Nov 25	12.9
Nov 25	13.36
Nov 25	13.29
Oct 25	13.73
Oct 25	13.21
Oct 25	12.83
Oct 25	12.78
Oct 25	12.99
Sep 25	12.17
Sep 25	12.21
Sep 25	12.54
Sep 25	12.39
Aug 25	12.3
Aug 25	12.57
Aug 25	12.63
Aug 25	12.69
Aug 25	12.34
Jul 25	13.61
Jul 25	13.07
Jul 25	12.9
Jul 25	12.52
Jun 25	12.44
Jun 25	11.83
Jun 25	12.04
Jun 25	12.3
May 25	12.11
May 25	12.15
May 25	12.48
May 25	12.18
May 25	12.25
Apr 25	11.3
Apr 25	10.52
Apr 25	10.11
Apr 25	9.91
Mar 25	11.15
Mar 25	11.36
Mar 25	11.46
Mar 25	12.24
Feb 25	11.15
Feb 25	11.17
Feb 25	11.18
Feb 25	10.59
Jan 25	10.83
Jan 25	10.59
Jan 25	10.41
Jan 25	9.53
Jan 25	9.73
Dec 24	9.52
Dec 24	9.5
Dec 24	9.65
Dec 24	9.82
Nov 24	10.41
Nov 24	10.18
Nov 24	10.2
Nov 24	10.39
Nov 24	10.87
Oct 24	11.92

Free Cash Flow Yield

AZ2.DE Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	5.81%
Sep 26	5.72%
Sep 26	5.7%
Aug 26	5.83%
Aug 26	5.94%
Aug 26	5.91%
Aug 26	5.88%
Jul 26	5.96%
Jul 26	6.21%
Jul 26	6.5%
Jul 26	6.59%
Jul 26	6.4%
Jun 26	6.04%
Jun 26	5.95%
Jun 26	6.01%
Jun 26	6.07%
May 26	5.99%
May 26	6.06%
May 26	6.26%
May 26	6.19%
Apr 26	6.47%
Apr 26	6.71%
Apr 26	6.58%
Apr 26	6.83%
Apr 26	7.65%
Mar 26	5.62%
Mar 26	5.84%
Mar 26	5.51%
Mar 26	5.17%
Feb 26	4.78%
Feb 26	4.79%
Feb 26	4.82%
Feb 26	4.93%
Jan 26	4.82%
Jan 26	4.9%
Jan 26	4.91%
Jan 26	5.03%
Jan 26	5.25%
Dec 25	4.71%
Dec 25	4.71%
Dec 25	4.93%
Dec 25	4.75%
Nov 25	4.97%
Nov 25	5.06%
Nov 25	4.89%
Nov 25	4.91%
Oct 25	4.76%
Oct 25	4.94%
Oct 25	5.09%
Oct 25	5.11%
Oct 25	5.03%
Sep 25	3.89%
Sep 25	3.88%
Sep 25	3.78%
Sep 25	3.82%
Aug 25	3.85%
Aug 25	3.77%
Aug 25	3.75%
Aug 25	3.73%
Aug 25	3.84%
Jul 25	3.48%
Jul 25	3.62%
Jul 25	3.67%
Jul 25	3.78%
Jun 25	7.4%
Jun 25	7.78%
Jun 25	7.64%
Jun 25	7.48%
May 25	7.6%
May 25	7.57%
May 25	7.38%
May 25	7.56%
May 25	7.51%
Apr 25	8.15%
Apr 25	8.75%
Apr 25	9.11%
Apr 25	9.29%
Mar 25	9.43%
Mar 25	9.25%
Mar 25	9.17%
Mar 25	8.58%
Feb 25	9.43%
Feb 25	9.41%
Feb 25	9.4%
Feb 25	9.92%
Jan 25	9.71%
Jan 25	9.92%
Jan 25	10.09%
Jan 25	11.03%
Jan 25	10.81%
Dec 24	12.16%
Dec 24	12.18%
Dec 24	11.99%
Dec 24	11.78%
Nov 24	11.12%
Nov 24	11.36%
Nov 24	11.34%
Nov 24	11.14%
Nov 24	10.65%
Oct 24	9.7%

Price to Sales

AZ2.DE Price to Sales by year
Period	Price to Sales
Sep 26	1.03
Sep 26	1.05
Sep 26	1.05
Aug 26	1.03
Aug 26	1.01
Aug 26	1.01
Aug 26	1.02
Jul 26	1
Jul 26	0.96
Jul 26	0.92
Jul 26	0.91
Jul 26	0.93
Jun 26	0.95
Jun 26	0.97
Jun 26	0.96
Jun 26	0.95
May 26	0.96
May 26	0.95
May 26	0.92
May 26	0.93
Apr 26	0.89
Apr 26	0.86
Apr 26	0.88
Apr 26	0.84
Apr 26	0.75
Mar 26	0.78
Mar 26	0.75
Mar 26	0.79
Mar 26	0.85
Feb 26	0.91
Feb 26	0.91
Feb 26	0.91
Feb 26	0.89
Jan 26	0.91
Jan 26	0.89
Jan 26	0.89
Jan 26	0.87
Jan 26	0.83
Dec 25	0.81
Dec 25	0.81
Dec 25	0.77
Dec 25	0.8
Nov 25	0.76
Nov 25	0.75
Nov 25	0.78
Nov 25	0.77
Oct 25	0.8
Oct 25	0.77
Oct 25	0.75
Oct 25	0.74
Oct 25	0.76
Sep 25	0.72
Sep 25	0.72
Sep 25	0.74
Sep 25	0.73
Aug 25	0.72
Aug 25	0.74
Aug 25	0.74
Aug 25	0.75
Aug 25	0.73
Jul 25	0.8
Jul 25	0.77
Jul 25	0.76
Jul 25	0.74
Jun 25	0.74
Jun 25	0.71
Jun 25	0.72
Jun 25	0.73
May 25	0.72
May 25	0.73
May 25	0.75
May 25	0.73
May 25	0.73
Apr 25	0.67
Apr 25	0.63
Apr 25	0.6
Apr 25	0.59
Mar 25	0.66
Mar 25	0.67
Mar 25	0.68
Mar 25	0.72
Feb 25	0.66
Feb 25	0.66
Feb 25	0.66
Feb 25	0.63
Jan 25	0.64
Jan 25	0.63
Jan 25	0.62
Jan 25	0.56
Jan 25	0.57
Dec 24	0.57
Dec 24	0.56
Dec 24	0.57
Dec 24	0.58
Nov 24	0.62
Nov 24	0.61
Nov 24	0.61
Nov 24	0.62
Nov 24	0.65
Oct 24	0.71

EV/EBITDA

AZ2.DE EV/EBITDA by year
Period	EV/EBITDA
Sep 26	9.08
Sep 26	9.23
Sep 26	9.26
Aug 26	9.03
Aug 26	8.86
Aug 26	8.91
Aug 26	8.96
Jul 26	8.84
Jul 26	8.47
Jul 26	8.08
Jul 26	7.96
Jul 26	8.21
Jun 26	8.16
Jun 26	8.3
Jun 26	8.21
Jun 26	8.12
May 26	8.23
May 26	8.13
May 26	7.86
May 26	7.95
Apr 26	7.59
Apr 26	7.29
Apr 26	7.45
Apr 26	7.16
Apr 26	6.34
Mar 26	6.78
Mar 26	6.51
Mar 26	6.91
Mar 26	7.37
Feb 26	7.98
Feb 26	7.96
Feb 26	7.91
Feb 26	7.73
Jan 26	7.91
Jan 26	7.79
Jan 26	7.76
Jan 26	7.58
Jan 26	7.26
Dec 25	6.83
Dec 25	6.83
Dec 25	6.51
Dec 25	6.77
Nov 25	6.46
Nov 25	6.32
Nov 25	6.57
Nov 25	6.53
Oct 25	6.76
Oct 25	6.49
Oct 25	6.29
Oct 25	6.26
Oct 25	6.37
Sep 25	5.73
Sep 25	5.75
Sep 25	5.93
Sep 25	5.84
Aug 25	5.8
Aug 25	5.94
Aug 25	5.97
Aug 25	6
Aug 25	5.82
Jul 25	6.49
Jul 25	6.21
Jul 25	6.11
Jul 25	5.92
Jun 25	5.98
Jun 25	5.65
Jun 25	5.76
Jun 25	5.9
May 25	5.8
May 25	5.82
May 25	6
May 25	5.84
May 25	5.87
Apr 25	5.36
Apr 25	4.94
Apr 25	4.72
Apr 25	4.61
Mar 25	5.15
Mar 25	5.26
Mar 25	5.32
Mar 25	5.73
Feb 25	5.15
Feb 25	5.16
Feb 25	5.17
Feb 25	4.86
Jan 25	4.98
Jan 25	4.86
Jan 25	4.77
Jan 25	4.3
Jan 25	4.41
Dec 24	4.26
Dec 24	4.26
Dec 24	4.33
Dec 24	4.42
Nov 24	4.73
Nov 24	4.61
Nov 24	4.62
Nov 24	4.72
Nov 24	4.97
Oct 24	5.53

Price/Operating Cashflow

AZ2.DE Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	12.2
Sep 26	12.39
Sep 26	12.43
Aug 26	12.14
Aug 26	11.92
Aug 26	11.98
Aug 26	12.04
Jul 26	11.89
Jul 26	11.4
Jul 26	10.9
Jul 26	10.74
Jul 26	11.06
Jun 26	11.53
Jun 26	11.71
Jun 26	11.59
Jun 26	11.47
May 26	11.62
May 26	11.49
May 26	11.13
May 26	11.25
Apr 26	10.77
Apr 26	10.38
Apr 26	10.59
Apr 26	10.2
Apr 26	9.11
Mar 26	11.15
Mar 26	10.72
Mar 26	11.36
Mar 26	12.11
Feb 26	13.11
Feb 26	13.07
Feb 26	12.99
Feb 26	12.69
Jan 26	12.99
Jan 26	12.79
Jan 26	12.75
Jan 26	12.45
Jan 26	11.93
Dec 25	12.95
Dec 25	12.95
Dec 25	12.37
Dec 25	12.84
Nov 25	12.28
Nov 25	12.05
Nov 25	12.48
Nov 25	12.41
Oct 25	12.82
Oct 25	12.34
Oct 25	11.99
Oct 25	11.94
Oct 25	12.13
Sep 25	13.8
Sep 25	13.84
Sep 25	14.22
Sep 25	14.05
Aug 25	13.95
Aug 25	14.26
Aug 25	14.32
Aug 25	14.38
Aug 25	13.99
Jul 25	15.43
Jul 25	14.82
Jul 25	14.63
Jul 25	14.2
Jun 25	9.7
Jun 25	9.23
Jun 25	9.39
Jun 25	9.59
May 25	9.45
May 25	9.48
May 25	9.73
May 25	9.5
May 25	9.56
Apr 25	8.81
Apr 25	8.21
Apr 25	7.88
Apr 25	7.73
Mar 25	7.93
Mar 25	8.08
Mar 25	8.16
Mar 25	8.71
Feb 25	7.93
Feb 25	7.95
Feb 25	7.95
Feb 25	7.53
Jan 25	7.7
Jan 25	7.53
Jan 25	7.41
Jan 25	6.78
Jan 25	6.92
Dec 24	6.33
Dec 24	6.32
Dec 24	6.42
Dec 24	6.54
Nov 24	6.93
Nov 24	6.78
Nov 24	6.79
Nov 24	6.91
Nov 24	7.23
Oct 24	7.93

Price to Book

AZ2.DE Price to Book by year
Period	Price to Book
Sep 26	3.51
Sep 26	3.57
Sep 26	3.58
Aug 26	3.49
Aug 26	3.43
Aug 26	3.45
Aug 26	3.46
Jul 26	3.42
Jul 26	3.28
Jul 26	3.14
Jul 26	3.09
Jul 26	3.18
Jun 26	3.06
Jun 26	3.11
Jun 26	3.08
Jun 26	3.05
May 26	3.09
May 26	3.05
May 26	2.96
May 26	2.99
Apr 26	2.86
Apr 26	2.76
Apr 26	2.81
Apr 26	2.71
Apr 26	2.42
Mar 26	2.66
Mar 26	2.56
Mar 26	2.71
Mar 26	2.89
Feb 26	3.12
Feb 26	3.12
Feb 26	3.1
Feb 26	3.03
Jan 26	3.1
Jan 26	3.05
Jan 26	3.04
Jan 26	2.97
Jan 26	2.84
Dec 25	2.96
Dec 25	2.96
Dec 25	2.83
Dec 25	2.94
Nov 25	2.81
Nov 25	2.75
Nov 25	2.85
Nov 25	2.84
Oct 25	2.93
Oct 25	2.82
Oct 25	2.74
Oct 25	2.73
Oct 25	2.78
Sep 25	2.76
Sep 25	2.77
Sep 25	2.85
Sep 25	2.81
Aug 25	2.79
Aug 25	2.85
Aug 25	2.87
Aug 25	2.88
Aug 25	2.8
Jul 25	3.09
Jul 25	2.97
Jul 25	2.93
Jul 25	2.84
Jun 25	2.71
Jun 25	2.58
Jun 25	2.62
Jun 25	2.68
May 25	2.64
May 25	2.65
May 25	2.72
May 25	2.65
May 25	2.67
Apr 25	2.46
Apr 25	2.29
Apr 25	2.2
Apr 25	2.16
Mar 25	2.56
Mar 25	2.61
Mar 25	2.63
Mar 25	2.81
Feb 25	2.56
Feb 25	2.56
Feb 25	2.57
Feb 25	2.43
Jan 25	2.49
Jan 25	2.43
Jan 25	2.39
Jan 25	2.19
Jan 25	2.23
Dec 24	2.25
Dec 24	2.25
Dec 24	2.28
Dec 24	2.32
Nov 24	2.46
Nov 24	2.41
Nov 24	2.41
Nov 24	2.46
Nov 24	2.57
Oct 24	2.82

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Andritz AG

Video analysis: AZ2.DE

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