Saturday 17 October 2026 Export AOS’s income statement to Excel — free account

A. O. Smith Corporation

AOS Industrials Specialty Industrial Machinery

A. O. Smith Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.8 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 15.0%, free cash flow fell 6.61% and total debt rose 110.1%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

59.22 0.25 −0.42%

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Market cap: $8.1B
P/E: 16.5×
Fwd P/E: 15.3×
Dividend yield: 2.43%
F-score: 8/9
Altman Z: 8.31
Beneish M: −2.50
Dividend safety: 93/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 0.11

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	1	1	—	—	—	—	—	—	—

Insider Ownership 20.92%

Capital & Financial Ratios $m

Market Cap 8,080.00

Revenue 3,804.90

Net Income 500.30

Free Cash Flow 639.40

Net Debt 456.20

Current Ratio 1.59

Debt/Equity 0.35

P/E ratio 16.45

Fwd P/E 15.30

P/S ratio 2.13

P/B ratio 4.41

Past 5Y EPS Growth 12.67%

This Y EPS Growth (3.19%)

Next Y EPS Growth 8.55%

Next Y revenue growth 1.69%

Next 5Y EPS Growth 4.53%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 4.09%

10-year low 10-year high

P/S against its own 10 years 3.91%

10-year low 10-year high

P/B against its own 10 years 10.28%

10-year low 10-year high

EV/Sales against its own 10 years 8.70%

10-year low 10-year high

EV/FCF against its own 10 years 2.51%

10-year low 10-year high

Dividends

Payout Ratio 0.40

Annual Dividend Rate 1.44

Annual Dividend Yield 2.43%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.44	0.36 0.36 0.36
2025	1.38	0.34 0.34 0.34 0.36
2024	1.30	0.32 0.32 0.32 0.34
2023	1.52	0.30 0.30 0.30 0.30 0.32
2022	1.14	0.28 0.28 0.28 0.30
2021	1.06	0.26 0.26 0.26 0.28
2020	0.98	0.24 0.24 0.24 0.26
2019	0.90	0.22 0.22 0.22 0.24
2018	0.76	0.18 0.18 0.18 0.22
2017	0.56	0.14 0.14 0.14 0.14
2016	0.48	0.12 0.12 0.12 0.12

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	363	276	193	181
Receivables	596	541	582	670
Inventory	497	532	479	483
Other	44	43	37	56
	1,500	1,393	1,292	1,389

	2023	2024	2025	Q'26
Payables	600	589	504	526
ST’ Debt	10	10	42	40
Other	65	67	75	72
	945	897	863	872

Compound Annual Growth %

	10y	5y	3y
Sales	4.21%	5.76%	0.67%
Cash Flow	5.78%	1.87%	16.37%
Earnings	6.80%	9.63%	32.33%
Book Value	2.56%	0.10%	2.06%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	946	1,004	—	—	—
’25	964	1,011	943	912	3,830
’24	979	1,024	903	912	3,818
’23	966	961	938	988	3,853
’22	978	966	874	936	3,754
’21	769	860	915	995	3,539
’20	637	664	760	835	2,895

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	129	124	—	—	—
’25	39	140	255	183	617
’24	107	57	196	222	582
’23	120	140	179	231	670
’22	17	38	160	177	391
’21	104	92	181	264	641
’20	54	125	151	232	562

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	119	114	—	—	—
’25	17	123	241	166	546
’24	85	35	163	191	474
’23	109	127	160	201	598
’22	4	20	140	157	321
’21	87	78	166	235	566
’20	41	113	139	212	505

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.85	0.91	—	—	—
’25	0.95	1.07	0.94	0.90	3.85
’24	1.00	1.06	0.82	0.75	3.63
’23	0.84	1.04	0.90	0.92	3.69
’22	0.76	0.81	0.71	(0.78)	1.51
’21	0.60	0.73	0.82	0.87	3.02
’20	0.32	0.42	0.65	0.74	2.12

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	30.15	46.44	40.34	40.38	33.81	52.08	46.58	57.45	67.39	58.83	Analyst estimates 2026–2028 Powerpack
	High	51.49	63.70	68.39	56.66	58.66	86.74	86.10	82.77	92.45	77.31
People
People	Employees	15,500	16,100	16,300	15,100	13,900	13,700	12,000	12,000	12,700	11,500
	Revenue/emp, $m	0.17	0.19	0.20	0.20	0.21	0.26	0.31	0.32	0.30	0.33
Income, $m
Income, $m	Revenue	2,686	2,997	3,188	2,993	2,895	3,539	3,754	3,853	3,818	3,830
	Gross margin, %	41.48	41.13	40.95	39.45	38.28	37.04	35.42	38.54	38.14	38.83
	EBT	463	521	558	472	444	626	224	734	701	715
	EBT margin, %	17.22	17.38	17.50	15.78	15.33	17.68	5.96	19.04	18.36	18.67
	Net income	327	297	444	370	345	487	236	557	534	546
	Depreciation	65	70	72	78	80	78	77	78	79	85
Per share, $
Per share, $	Revenue	15.37	17.36	18.69	18.09	17.92	22.13	24.25	25.69	26.15	27.16
	Earnings	1.85	1.70	2.58	2.22	2.12	3.02	1.51	3.69	3.63	3.85
	Cash flow	2.56	1.89	2.63	2.76	3.48	4.01	2.53	4.47	3.99	4.37
	Capex	(0.46)	(0.55)	(0.50)	(0.39)	(0.35)	(0.47)	(0.45)	(0.48)	(0.74)	(0.50)
	Free cash flow	2.09	1.34	2.13	2.37	3.13	3.54	2.07	3.99	3.25	3.87
	Book value	8.67	9.53	10.07	10.07	11.44	11.46	11.29	12.30	12.90	13.17
	Shares, m	175	173	171	165	162	160	155	150	146	141
Valuation, ×
Valuation, ×	P/E	25.75	36.19	16.55	21.36	25.74	28.43	39.28	22.01	18.79	17.33
	P/S	3.09	3.55	2.28	2.63	3.06	3.88	2.43	3.17	2.61	2.46
	P/B	5.48	6.46	4.24	4.73	4.79	7.49	5.22	6.62	5.29	5.08
	EV/Sales	2.93	3.41	2.15	2.54	2.86	3.76	2.39	3.11	2.59	2.45
	EV/FCF	21.50	43.99	18.87	19.44	16.38	23.49	27.97	20.04	20.84	17.20
Cash, $m
Cash, $m	Operating cash flow	447	326	449	456	562	641	391	670	582	617
	Capex	(81)	(94)	(85)	(64)	(57)	(75)	(70)	(73)	(108)	(71)
	Free cash flow	366	232	364	392	505	566	321	598	474	546
Balance, $m
Balance, $m	Working capital	796	973	853	734	732	634	700	555	496	429
	Total debt	324	410	221	284	113	197	345	127	193	155
	Net debt	(431)	(410)	(424)	(267)	(576)	(435)	(137)	(236)	(83)	(38)
	Shareholders’ equity	1,515	1,645	1,717	1,667	1,848	1,832	1,748	1,844	1,884	1,858
Returns, %
Returns, %	ROA	11.83	9.74	14.17	12.07	11.09	14.68	6.93	17.01	16.54	17.11
	ROIC	26.04	25.78	26.34	20.77	21.63	27.26	25.56	29.43	24.88	25.00
	ROE	22.08	18.76	26.43	21.87	19.62	26.47	13.17	30.99	28.63	29.20

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WTS Watts Water Technologies, Inc.	$11.9B	31.1×	26.5×	+18.56% (above 0%: growing)	+17.28% (above 0%: growing)	+53.95% (above 0%: growing)	49.02%	20.18%	Compare
GNRC Generac Holdings Inc.	$11.7B	43.7×	35.5×	+10.59% (above 0%: growing)	+92.13% (above 0%: growing)	+336.44% (above 0%: growing)	44.47%	17.93%	Compare
RRX Regal Rexnord Corporation	$10.4B	31.6×	36.7×	+4.16% (above 0%: growing)	+47.06% (above 0%: growing)	−68.44% (below 0%: shrinking)	39.25%	13.81%	Compare
DCI Donaldson Company, Inc.	$10.2B	22.5×	19.1×	+7.96% (above 0%: growing)	+13.27% (above 0%: growing)	+23.80% (above 0%: growing)	36.26%	16.68%	Compare
FLS Flowserve Corporation	$9.0B	24.5×	19.0×	−1.59% (below 0%: shrinking)	+25.81% (above 0%: growing)	−18.46% (below 0%: shrinking)	32.91%	15.78%	Compare
PNR Pentair plc	$8.5B	13.3×	14.9×	−16.96% (below 0%: shrinking)	−11.11% (below 0%: shrinking)	−7.20% (below 0%: shrinking)	42.35%	17.85%	Compare
AOS A. O. Smith Corporation	$8.1B	16.5×	15.3×	−0.69% (below 0%: shrinking)	−14.95% (below 0%: shrinking)	−6.61% (below 0%: shrinking)	38.61%	18.93%
GTES Gates Industrial Corporation PLC	$6.7B	18.2×	23.0×	+6.55% (above 0%: growing)	+204.55% (above 0%: growing)	−18.45% (below 0%: shrinking)	41.00%	13.98%	Compare
NPO Enpro Inc.	$6.0B	134×	51.3×	+17.60% (above 0%: growing)	+1.59% (above 0%: growing)	−15.53% (below 0%: shrinking)	43.98%	17.03%	Compare
Median of peers	$9.6B	27.8×	24.8×	+7.26%	+21.55%	−11.36%	41.67%	16.86%

All 76 Specialty Industrial Machinery stocks →

A. O. Smith Corporation (AOS) key facts

Strength: Net income was $546.2 million, or $3.85 per share (basic), a net margin of 14.3%.
A. O. Smith Corporation (AOS) is a Specialty Industrial Machinery company in the Industrials sector, listed on the New York Stock Exchange.
A. O. Smith Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.8 billion, roughly unchanged from fiscal 2024.
As of October 16, 2026, AOS traded at $59.22, a market capitalization of $8.1 billion.
At that price the stock trades at 16.5× trailing-twelve-month earnings and 2.1× sales; its P/E is higher than 4% of its own readings over the past ten years.
A. O. Smith Corporation pays an annual dividend of $1.44 per share, a yield of 2.43%, with a payout ratio of 40.0%.
Return on equity was 29.2% and debt-to-equity 0.35.
Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 8.31 (safe zone) for fiscal 2025.