Friday 6 November 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.

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

Quarter to June 2026, against a year earlier

55.96 1.54 +2.83%

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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 Segments Valuation Filings

AAON, Inc. (AAON) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
AAON Oklahoma	801	55.56%
AAON Coil Products	325	22.56%
BasX	316	21.88%
Gross margin		26.75%
Operating margin		10.14%
Pre-tax margin		8.93%

Revenue by product or service $m

Line	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Rooftop units	398 74.55%	401 77.92%	349 74.45%	333 76.76%	317 78.33%	310 80.64%
Part Sales	41 7.69%	33 6.33%	33 7.10%	27 6.16%	21 5.12%	20 5.31%
Condensing units	27 5.00%	21 4.11%	18 3.94%	18 4.21%	19 4.76%	14 3.64%
Air handlers	27 4.99%	24 4.65%	24 5.17%	22 5.05%	23 5.57%	20 5.15%
Water-source heat pumps	21 3.96%	19 3.70%	25 5.42%	15 3.38%	10 2.45%	6 1.52%
Other	15 2.82%	14 2.73%	17 3.57%	17 3.88%	12 2.98%	10 2.56%
Cleanroom systems	2 0.43%	—	—	—	—	—
Data center cooling solutions	2 0.32%	—	—	—	—	—
Outdoor mechanical rooms	1 0.24%	3 0.55%	2 0.35%	2 0.55%	3 0.80%	5 1.18%
Product	—	—	—	—	—	384
Revenue	535	515	469	434	405	384

Gross profit by product or service $m, and margin

	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Shipping and Handling	‡	‡	‡	‡	‡	‡
Product	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡
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Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
AAON Oklahoma	801 55.56%	859 71.52%	898 76.84%	664 74.69%	464 86.78%	459 89.20%	419 89.21%	—	—	—
AAON Coil Products	325 22.56%	144 11.98%	112 9.61%	107 12.07%	67 12.46%	56 10.80%	51 10.79%	—	—	—
BasX	316 21.88%	198 16.50%	158 13.55%	118 13.24%	4 0.76%	0 0.00%	0 0.00%	—	—	—
Units	—	—	—	—	—	—	—	406 93.64%	385 94.97%	364 94.71%
Parts	—	—	—	—	—	—	—	28 6.56%	22 5.44%	22 5.65%
Revenue	1,442	1,201	1,169	889	535	515	469	434	405	384

Gross profit by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
AAON Oklahoma	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
AAON Coil Products	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
BasX	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
AAON-branded equipment backlog year-over-year change	Q2 FY2026	9.40%	93.4%	—
AAON-branded products backlog	Q2 FY2026	$540.5M	$494.2M	+9.36%
Backlog	Q2 FY2026	$2.0B	$1.1B	+76.34%
BASX-branded backlog quarter-over-quarter change	Q1 FY2026	24.4%	—	—
BASX-branded products backlog	Q2 FY2026	$1.4B	$623.4M	+129.44%
BASX-branded products backlog year-over-year change	Q2 FY2026	185.4%	58.0%	—
Total backlog quarter-over-quarter change	Q1 FY2026	16.5%	—	—
Year over year change	Q2 FY2026	98.0%	71.9%	—

	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
AAON-branded equipment backlog year-over-year change	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
AAON-branded products backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
BASX-branded backlog quarter-over-quarter change	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
BASX-branded products backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
BASX-branded products backlog year-over-year change	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total backlog quarter-over-quarter change	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Year over year change	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.