Saturday 17 October 2026
Export AAON’s income statement to Excel — free account
AAON, Inc.
AAON Industrials Building Products & Equipment
AAON, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 20.1% from fiscal 2024. In the quarter to June 2026, revenue grew 101.2%, EPS grew 263.2%, free cash flow grew 53.0% and total debt rose 37.1%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for ten; insiders bought in the last twelve months.
73.73
3.57
−4.62%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
33.68 | 35.87 | 43.28 | 46.61 | 44.12 | 70.91 | 39.59 | 33.74 | 56.85 | 57.77 |
Piotroski F-Score |
9 | 5 | 5 | 7 | 7 | 3 | 5 | 7 | 3 | 2 |
P/S ratio |
4.60 | 4.79 | 4.22 | 5.48 | 6.76 | 7.79 | 4.47 | 5.13 | 7.99 | 4.31 |
Altman Z-Score |
24.85 | 23.17 | 22.28 | 22.36 | 24.65 | 15.82 | 12.17 | 20.75 | 19.23 | 6.93 |
Altman Z″-Score (non-manufacturers) |
11.58 | 10.76 | 10.30 | 9.80 | 10.14 | 6.63 | 6.86 | 9.46 | 7.51 | 5.47 |
P/FCF ratio |
47.25 | 119.22 | 104.13 | 42.30 | 56.92 | 712.70 | 0.00 | 109.58 | 0.00 | 0.00 |
Beneish M-Score |
(3.07) | (2.60) | (0.26) | (2.95) | (3.32) | 6.44 | (1.90) | (2.36) | (2.70) | (1.39) |
P/Operating CF |
104.33 | 120.42 | 171.87 | 94.11 | 109.24 | (307.85) | 221.76 | 115.89 | 11,346.44 | 321.80 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 49 |
P/B ratio |
8.57 | 8.19 | 7.35 | 8.87 | 9.91 | 8.93 | 7.08 | 8.16 | 11.63 | 6.95 |
Price to Tangible BV |
8.57 | 8.19 | 7.46 | 8.98 | 10.00 | 13.41 | 9.59 | 10.25 | 14.43 | 8.53 |
EV/Sales |
4.48 | 4.72 | 4.22 | 5.40 | 6.61 | 7.86 | 4.54 | 5.16 | 8.10 | 4.59 |
EV/EBITDA |
18.53 | 21.41 | 25.07 | 28.24 | 26.66 | 42.11 | 24.87 | 21.97 | 35.71 | 29.26 |
EV/Operating CF |
26.92 | 32.97 | 33.38 | 25.89 | 26.40 | 68.63 | 65.81 | 37.93 | 50.49 | 12,385.14 |
EV/FCF |
46.08 | 117.36 | 104.02 | 41.68 | 55.67 | 718.96 | (274.63) | 110.12 | (471.99) | (32.37) |
Quick Ratio |
2.38 | 1.65 | 1.30 | 2.01 | 2.27 | 0.92 | 0.91 | 1.16 | 0.90 | 1.04 |
Current Ratio |
3.61 | 3.07 | 2.96 | 3.35 | 3.73 | 2.51 | 2.40 | 3.23 | 2.79 | 2.63 |
Net Debt/EBITDA |
(0.47) | (0.34) | (0.03) | (0.42) | (0.60) | 0.37 | 0.40 | 0.11 | 0.49 | 1.76 |
Debt/Assets |
0.00% | 0.00% | 0.00% | 1.70% | 1.42% | 6.15% | 8.72% | 4.07% | 11.82% | 23.62% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.09 | 0.13 | 0.05 | 0.17 | 0.45 |
Asset Turnover |
1.57 | 1.46 | 1.44 | 1.38 | 1.25 | 0.97 | 1.21 | 1.33 | 1.13 | 1.01 |
Operating CF/Net income |
1.20 | 1.08 | 1.30 | 1.82 | 1.63 | 1.04 | 0.61 | 0.89 | 1.14 | 0.01 |
Capex/Depreciation |
(2.00) | (2.77) | (2.11) | (1.63) | (2.64) | (1.82) | (2.14) | (2.33) | (3.38) | (2.57) |
Interest Coverage |
272.58 | 249.11 | 282.40 | 1,015.32 | 1,157.23 | 524.64 | 48.25 | 46.97 | 71.99 | 8.25 |
| 27.74% | 24.30% | 17.40% | 19.91% | 24.65% | 14.38% | 19.55% | 27.41% | 21.61% | 12.51% | |
| 21.81% | 19.46% | 14.00% | 15.81% | 19.26% | 10.69% | 13.71% | 20.24% | 15.93% | 7.52% | |
ROIC |
30.68% | 22.43% | 13.98% | 16.61% | 23.15% | 8.61% | 12.66% | 18.60% | 13.66% | 7.07% |
Return on Tangible Assets |
24.62% | 21.88% | 16.52% | 17.35% | 20.55% | 15.09% | 19.75% | 27.24% | 20.46% | 9.20% |
Average Days of Receivables |
46.81 | 46.82 | 50.45 | 53.02 | 36.87 | 52.24 | 52.22 | 43.14 | 46.07 | 86.52 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
10.03% | 12.18% | 11.11% | 11.10% | 11.76% | 12.83% | 12.47% | 14.68% | 15.66% | 16.61% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.24 | 0.18 | 0.16 | 0.14 | 0.10 |
Share Based Compensation of Revenue |
1.13% | 1.56% | 1.81% | 2.51% | 2.20% | 2.21% | 1.54% | 1.40% | 1.39% | 1.25% |
Graham Net Nets |
0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.01 | 0.02 | 0.03 | 0.01 | 0.01 |
Graham Number |
6.21 | 6.82 | 6.22 | 7.68 | 10.08 | 9.98 | 14.13 | 21.13 | 21.71 | 18.06 |
Earnings Yield |
2.97% | 2.79% | 2.31% | 2.15% | 2.27% | 1.41% | 2.53% | 2.96% | 1.76% | 1.73% |
Free Cash Flow Yield |
2.12% | 0.84% | 0.96% | 2.36% | 1.76% | 0.14% | (0.37%) | 0.91% | (0.21%) | (3.29%) |
Revenue per Share |
4.84 | 5.14 | 5.53 | 6.01 | 6.58 | 6.80 | 11.17 | 14.40 | 14.74 | 17.69 |
Operating CF per Share |
0.81 | 0.74 | 0.70 | 1.25 | 1.65 | 0.78 | 0.77 | 1.96 | 2.36 | 0.01 |
Capex per Share |
(0.33) | (0.53) | (0.47) | (0.47) | (0.87) | (0.70) | (0.96) | (1.35) | (2.62) | (2.51) |
Free Cash Flow per Share |
0.47 | 0.21 | 0.22 | 0.78 | 0.78 | 0.07 | (0.18) | 0.61 | (0.25) | (2.51) |
Cash per Share |
0.55 | 0.39 | 0.03 | 0.57 | 1.05 | 0.04 | 0.07 | 0.11 | 0.08 | 0.02 |
Shareholders Equity per Share |
2.59 | 3.01 | 3.18 | 3.71 | 4.48 | 5.93 | 7.05 | 9.06 | 10.12 | 10.98 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
2.59 | 3.01 | 3.18 | 3.71 | 4.48 | 5.93 | 7.05 | 9.06 | 10.12 | 10.98 |
Free Cash Flow |
37.35 | 16.29 | 17.60 | 60.83 | 61.07 | 5.84 | (14.69) | 49.53 | (20.59) | (204.32) |
Working Capital |
101.94 | 103.66 | 93.17 | 131.52 | 161.22 | 131.31 | 203.55 | 282.21 | 313.31 | 538.33 |
Capital Expenditures |
(26.58) | (41.70) | (37.25) | (37.10) | (67.74) | (55.34) | (76.01) | (109.36) | (213.13) | (204.85) |
Net Current Asset Value |
90.35 | 94.17 | 82.11 | 106.27 | 122.11 | 34.07 | 95.93 | 202.74 | 137.56 | 77.66 |
EV/EBIT |
21.62 | 25.75 | 33.08 | 37.83 | 33.39 | 60.63 | 31.83 | 26.49 | 46.48 | 45.22 |
Capex to Sales |
0.07 | 0.10 | 0.09 | 0.08 | 0.13 | 0.10 | 0.09 | 0.09 | 0.18 | 0.14 |
Price to Operating Income |
22.17 | 26.16 | 33.11 | 38.40 | 34.13 | 60.10 | 31.32 | 26.36 | 45.85 | 42.51 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.12 | 0.11 | 0.11 | 0.13 | 0.12 | 0.12 | 0.12 | 0.13 | 0.12 | 0.13 |
Cash ROIC |
14.96% | 6.09% | 7.00% | 17.85% | 13.90% | 1.15% | (2.30%) | 6.33% | (2.12%) | (15.78%) |
Accounts Receivable Turnover |
7.39 | 8.01 | 7.75 | 7.32 | 8.57 | 8.32 | 8.73 | 8.81 | 8.29 | 5.85 |
Accounts Payable Turnover |
40.04 | 31.17 | 30.62 | 31.28 | 29.64 | 19.13 | 17.47 | 21.08 | 22.28 | 13.62 |
Inventory Turnover |
6.19 | 4.77 | 4.45 | 4.63 | 4.60 | 3.73 | 3.96 | 3.73 | 4.01 | 4.71 |
Average Days of Payables |
9.75 | 14.22 | 11.73 | 12.27 | 12.67 | 26.70 | 25.51 | 13.04 | 20.28 | 38.16 |
Days of Inventory on Hand |
65.00 | 91.76 | 85.74 | 76.78 | 83.66 | 119.86 | 111.50 | 101.29 | 85.14 | 90.24 |
Average Receivables |
51.98 | 50.61 | 55.98 | 64.08 | 60.07 | 64.24 | 101.83 | 132.63 | 144.83 | 246.69 |
Average Payables |
6.64 | 9.03 | 10.79 | 11.19 | 12.10 | 20.73 | 37.27 | 36.50 | 36.06 | 77.54 |
Average Inventory |
42.93 | 59.07 | 74.20 | 75.61 | 77.91 | 106.24 | 164.60 | 206.24 | 200.48 | 224.29 |
Average Assets |
244.69 | 276.66 | 302.39 | 339.71 | 410.22 | 549.59 | 732.04 | 877.67 | 1,058.34 | 1,430.87 |
Average Common Equity |
192.41 | 221.56 | 243.33 | 269.79 | 320.50 | 408.52 | 513.44 | 647.97 | 779.90 | 859.78 |
Columns are period end dates