AAON, Inc. (AAON) vs SPX Technologies, Inc. (SPXC)

AAON, Inc. and SPX Technologies, Inc. are both Building Products & Equipment companies. SPX Technologies, Inc. is the larger, with a market value of $6.9B against $4.5B — 1.5× the size. SPX Technologies, Inc. trades at the lower P/E: 23.3× against 27.7×. AAON, Inc. grew revenue faster over the last twelve months: 53.5% against 20.2%. SPX Technologies, Inc. has the higher net margin (11.5% vs 8.24%) and the lower return on invested capital (7.14% vs 9.31%). Across the 21 metrics below, SPX Technologies, Inc. leads on 12 and AAON, Inc. on 9.

Valuation

Metric AAON SPXC Building Products & Equipment median
P/E 27.72 23.33 23.33
P/S 2.30 2.69 2.09
P/B 4.40 2.85 2.85
Price to free cash flow n/m 30.78 18.42
EV/EBITDA 16.27 14.27 13.29
EV/Sales 2.52 3.15 2.28
Earnings yield 3.61% 4.29% 3.04%
Free cash flow yield (2.92%) 3.25% 4.26%

Profitability

Metric AAON SPXC Building Products & Equipment median
Gross margin 25.57% 39.89% 31.88%
Operating margin 11.05% 16.10% 7.18%
Net margin 8.24% 11.48% 4.11%
Free cash flow margin (6.71%) 8.72% 6.41%
Return on equity 17.28% 12.98% 5.95%
Return on assets 9.76% 7.19% 3.90%
Return on invested capital 9.31% 7.14% 5.54%

Growth

Metric AAON SPXC Building Products & Equipment median
Revenue growth (TTM) 53.53% 20.18% 6.27%
EPS growth (last fiscal year) (36.14%) 18.08% (28.29%)
Revenue growth, 5-year CAGR 22.89% 14.96% 4.81%
Net income growth, 5-year CAGR 6.37% 19.77% 0.00%

Health

Metric AAON SPXC Building Products & Equipment median
Debt to equity 0.43 0.55 0.55
Current ratio 3.01 1.84 1.83
Net debt to EBITDA 1.76 0.28 1.45

Dividend

Metric AAON SPXC Building Products & Equipment median
Dividend yield 0.74% — 1.37%
Payout ratio 0.21 — 0.28

Size

Metric AAON SPXC Building Products & Equipment median
Market cap 4.49b 6.94b 3.22b

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