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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.

Revenue
+101.2%
EPS
+263.2%
Free cash flow
+53.0%
Total debt
+37.1%

Quarter to June 2026, against a year earlier

56.58 2.16 +3.97%
Market cap
$4.5B
P/E
27.7×
Fwd P/E
28.0×
Dividend yield
0.74%
F-score
2/9
Altman Z
6.93
Beneish M
−1.39
Dividend safety
49/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

AAON, Inc. (AAON) Debt to equity

Alert me on Debt to equity

AAON, Inc.'s debt to equity at the end of the quarter to 30 June 2026 was 0.4×, down 0.0× from fiscal 2025 (0.4×). Over the past ten years it has ranged from 0.0× (fiscal 2018) to 0.4× (fiscal 2025) — the current reading is the highest in ten years. That is below the Building Products & Equipment industry median of 0.6× and above the Industrials sector median of 0.3×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.4× 164.31%
FY2024 0.2× 223.22%
FY2023 0.1× (58.85%)
FY2022 0.1× 47.55%
FY2021 0.1× 374.03%
FY2020 0.0× (16.97%)
FY2019 0.0× —
FY2018 0.0× —
FY2017 0.0× —
FY2016 0.0× —

Quarterly newest first

Period Debt to equity Change
Jun 2026 0.4× (5.41%)
Mar 2026 0.5× 2.25%
Dec 2025 0.4× 6.66%
Sep 2025 0.4× 9.53%
42 more quarters

Against its own ten years

Low 0.0× High 0.4×
Ten-year median 0.0×
Current reading's percentile 100

Debt to equity against peers

Company Debt to equity
TREX Trex Company, Inc. compare 0.2×
LPX Louisiana-Pacific Corporation compare 0.2×
AAON AAON, Inc. 0.4×
SPXC SPX Technologies, Inc. compare 0.5×
AWI Armstrong World Industries, Inc. compare 0.6×
FBIN Fortune Brands Innovations, Inc. compare 1.0×
BLDR Builders FirstSource, Inc. compare 1.1×
OC Owens Corning Inc compare 1.5×
GFF Griffon Corporation compare 9.8×
Building Products & Equipment industry median 0.6×
Industrials sector median 0.3×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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