A Business at a Glance
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AAON, Inc., a Nevada corporation ("AAON Nevada"), was incorporated on August 18, 1987. Our operating subsidiaries include AAON, Inc., an Oklahoma corporation ("AAON Oklahoma"), AAON Coil Products, Inc., a Texas corporation ("AAON Coil Products"), and BASX, Inc., an Oregon corporation ("BASX"). Unless the context otherwise requires, references in this Annual Report to "AAON", the "Company", "we", "us", "our", or "ours" refer to AAON Nevada and our subsidiaries. AAON is a leader in heating, ventilation, air conditioning, and liquid cooling solutions for commercial and industrial indoor environments. The Company designs and manufactures highly configurable equipment to meet specific customer requirements, delivering reliable performance, efficiency, and long-term value. Through a strong commitment to research and development, advanced engineering capabilities, and decades of industry experience, the Company continues to elevate standards for climate management solutions.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - | - |
| Net Income | 108M | 108M | 169M | 178M | 100M | 59M |
| EPS | $1.29 | $1.29 | $2.02 | $2.13 | $1.24 | $0.73 |
| Free Cash Flow | -190M | -190M | -3.1M | 55M | 7.3M | 5.8M |
| ROIC | 9.3% | 10.7% | 19.3% | 25.7% | 18.0% | 14.7% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.47 | 0.47 | 0.21 | 0.07 | 0.14 | 0.12 |
| Dividends/Share | $0.39 | $0.40 | $0.32 | $0.32 | $0.29 | $0.25 |
| Operating Income | 146M | 146M | 209M | 227M | 127M | 69M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | 12.0% | 12.5% | 21.6% | 27.4% | 19.5% | 14.4% |
| Shares Outstanding | 83M | 83M | 83M | 83M | 81M | 80M |
AAON, INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
AAON, INC. trades at 72.5x trailing earnings, compared to its 15-year median P/E of 42.8x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 17.7%. Total shareholder yield (dividends + buybacks) is 0.8%. At current prices, the estimated annualized return to fair value is +7.9%.
AAON, INC. (AAON) has a current P/E ratio of 72.5, compared to its historical median P/E of 42.8. The stock is currently considered Expensive based on its historical valuation range.
AAON, INC. (AAON) has a 5-year average return on invested capital (ROIC) of 17.7%. This indicates strong capital allocation and a potential competitive advantage.
AAON, INC. (AAON) has a market capitalization of $7.8B. It is classified as a mid-cap stock.
Yes, AAON, INC. (AAON) pays a dividend with a trailing twelve-month yield of 0.42%. The company also returns capital through share buybacks, with a buyback yield of 0.38%.
Based on historical P/E analysis, AAON, INC. (AAON) appears expensive. The current P/E of 72.5 is 70% above its historical median of 42.8. The estimated fair value CAGR (P/E method) is 20.6%.
AAON, INC. (AAON) operates in the Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip industry, within the Industrials sector.
AAON, INC. (AAON) generated $-190 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
AAON, INC. (AAON) has a debt-to-equity ratio of 0.47. This indicates a conservatively financed balance sheet.
AAON, INC. (AAON) reported earnings per share (EPS) of $1.29 in its most recent fiscal year.
AAON, INC. (AAON) has a return on equity (ROE) of 12.5%. This indicates moderate shareholder returns.
The Ledger Terminal provides 17 years of financial data for AAON, INC. (AAON), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AAON, INC. (AAON) has a book value per share of $10.73, based on its most recent annual SEC filing.