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%
Market cap
$8.1B
P/E
16.5×
Fwd P/E
15.3×
Dividend yield
3.07%
F-score
8/9
Altman Z
8.31
Beneish M
−2.50
Dividend safety
93/100
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
P/E ratio
25.75 36.19 16.55 21.36 25.74 28.43 39.28 22.01 18.79 17.33
Piotroski F-Score
6 6 7 4 5 6 6 8 5 8
P/S ratio
3.09 3.55 2.28 2.63 3.06 3.88 2.43 3.17 2.61 2.46
Altman Z-Score
6.15 6.70 6.14 6.23 6.81 7.97 6.60 9.02 8.05 8.31
Altman Z″-Score (non-manufacturers)
5.81 6.00 6.58 6.33 6.52 6.20 6.69 7.44 7.57 8.07
P/FCF ratio
22.68 45.75 20.03 20.12 17.52 24.25 28.40 20.43 21.02 17.27
Beneish M-Score
(2.70) (2.41) (2.35) (2.64) (2.78) (2.60) (2.72) (2.61) (2.60) (2.50)
P/Operating CF
45.35 60.30 45.61 44.73 38.22 51.94 51.61 52.80 44.88 51.51
Dividend Safety Score
— — — — — — — — — 93
P/B ratio
5.48 6.46 4.24 4.73 4.79 7.49 5.22 6.62 5.29 5.08
Price to Tangible BV
11.60 12.96 8.00 10.07 9.06 16.35 11.69 13.97 12.44 12.01
EV/Sales
2.93 3.41 2.15 2.54 2.86 3.76 2.39 3.11 2.59 2.45
EV/EBITDA
15.22 17.62 11.13 14.01 15.91 19.34 12.21 14.33 12.41 11.55
EV/Operating CF
17.62 31.29 15.29 16.69 14.73 20.74 22.95 17.87 16.97 15.23
EV/FCF
21.50 43.99 18.87 19.44 16.38 23.49 27.97 20.04 20.84 17.20
Quick Ratio
1.66 1.78 1.65 1.49 1.44 1.13 1.14 1.01 0.91 0.90
Current Ratio
2.04 2.23 2.09 1.96 1.83 1.57 1.75 1.59 1.55 1.50
Net Debt/EBITDA
(0.83) (0.71) (0.69) (0.49) (1.11) (0.63) (0.19) (0.28) (0.10) (0.05)
Debt/Assets
11.19% 12.84% 7.21% 9.29% 3.58% 5.66% 10.34% 3.96% 5.96% 4.93%
Debt/Equity
0.21 0.25 0.13 0.17 0.06 0.11 0.20 0.07 0.10 0.08
Asset Turnover
0.97 0.98 1.02 0.98 0.93 1.07 1.10 1.18 1.18 1.20
Operating CF/Net income
1.37 1.10 1.01 1.23 1.63 1.32 1.66 1.20 1.09 1.13
Capex/Depreciation
(1.24) (1.34) (1.18) (0.82) (0.71) (0.96) (0.91) (0.93) (1.37) (0.83)
Interest Coverage
61.88 50.46 64.88 42.28 60.30 141.74 70.07 63.12 106.99 53.93
ROE
22.08% 18.76% 26.43% 21.87% 19.62% 26.47% 13.17% 30.99% 28.63% 29.20%
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%
Return on Tangible Assets
25.95% 19.74% 31.88% 28.92% 27.09% 39.27% 18.27% 48.30% 47.46% 51.33%
Average Days of Receivables
70.49 72.19 74.11 71.90 73.75 65.43 56.51 56.46 51.76 55.49
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
24.67% 24.12% 23.65% 23.91% 22.81% 19.82% 17.87% 18.88% 19.36% 19.83%
Intangible Assets out of Total Assets
0.28 0.26 0.26 0.29 0.28 0.29 0.29 0.30 0.33 0.34
Share Based Compensation of Revenue
0.35% 0.33% 0.32% 0.44% 0.44% 0.34% 0.30% 0.30% 0.39% 0.36%
Graham Net Nets
0.02 0.02 0.04 0.01 0.03 0.01 0.01 0.01 0.00 0.00
Graham Number
18.97 19.09 24.17 22.48 23.42 27.90 19.52 32.00 32.46 33.83
Earnings Yield
3.88% 2.76% 6.04% 4.68% 3.89% 3.52% 2.55% 4.54% 5.32% 5.77%
Free Cash Flow Yield
4.41% 2.19% 4.99% 4.97% 5.71% 4.12% 3.52% 4.89% 4.76% 5.79%
Revenue per Share
15.37 17.36 18.69 18.09 17.92 22.13 24.25 25.69 26.15 27.16
Operating CF per Share
2.56 1.89 2.63 2.76 3.48 4.01 2.53 4.47 3.99 4.37
Capex per Share
(0.46) (0.55) (0.50) (0.39) (0.35) (0.47) (0.45) (0.48) (0.74) (0.50)
Free Cash Flow per Share
2.09 1.34 2.13 2.37 3.13 3.54 2.07 3.99 3.25 3.87
Cash per Share
4.32 4.75 3.78 3.33 4.27 3.95 3.11 2.42 1.89 1.37
Shareholders Equity per Share
8.67 9.53 10.07 10.07 11.44 11.46 11.29 12.30 12.90 13.17
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
8.67 9.53 10.07 10.07 11.44 11.46 11.29 12.30 12.90 13.17
Free Cash Flow
365.90 232.20 363.70 391.80 505.30 566.00 321.10 597.70 473.80 546.00
Working Capital
796.40 973.10 853.20 733.90 731.70 633.80 699.50 555.00 495.70 429.00
Capital Expenditures
(80.70) (94.20) (85.20) (64.40) (56.80) (75.10) (70.30) (72.60) (108.00) (70.80)
Net Current Asset Value
186.30 214.40 284.00 109.20 305.60 110.40 49.10 130.80 36.40 6.70
EV/EBIT
17.42 20.04 12.59 16.37 18.81 21.81 13.64 15.81 13.78 12.90
Capex to Sales
0.03 0.03 0.03 0.02 0.02 0.02 0.02 0.02 0.03 0.02
Price to Operating Income
18.37 20.85 13.37 16.95 20.12 22.52 13.85 16.12 13.89 12.96
Other line items
Depreciation/Fixed assets
0.14 0.13 0.13 0.14 0.15 0.13 0.13 0.13 0.13 0.13
Cash ROIC
14.11% 8.08% 14.08% 15.66% 19.06% 21.28% 12.47% 25.60% 20.14% 24.75%
Accounts Receivable Turnover
5.27 5.39 5.14 4.84 4.93 5.80 6.18 6.55 6.71 6.82
Accounts Payable Turnover
3.30 3.32 3.49 3.44 3.24 3.32 3.53 3.86 3.97 4.29
Inventory Turnover
6.63 6.44 6.26 5.96 5.93 5.96 5.03 4.67 4.59 4.63
Average Days of Payables
122.76 110.68 105.44 102.65 121.56 122.20 94.22 92.54 90.97 78.54
Days of Inventory on Hand
58.31 61.44 59.08 61.03 61.29 73.34 77.75 76.67 82.23 74.67
Average Receivables
510.05 555.70 620.00 618.40 587.25 609.70 607.80 588.60 568.70 561.85
Average Payables
476.75 531.80 539.40 526.70 552.40 670.55 685.85 613.10 594.55 546.40
Average Inventory
237.00 274.05 300.85 303.85 301.55 373.90 482.05 506.90 514.75 505.70
Average Assets
2,760.10 3,044.20 3,134.45 3,064.75 3,109.35 3,317.55 3,403.35 3,273.10 3,226.95 3,191.40
Average Common Equity
1,478.80 1,580.10 1,680.95 1,691.90 1,757.55 1,840.25 1,789.95 1,796.05 1,863.95 1,870.75

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Columns are period end dates