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 $8.6B against $7.0B — 1.2× the size. SPX Technologies, Inc. trades at the lower P/E: 30.7× against 45.7×. AAON, Inc. grew revenue faster over the last twelve months: 53.5% against 20.6%. SPX Technologies, Inc. has the higher net margin (11.3% vs 8.24%) and the lower return on invested capital (8.94% vs 9.31%). Across the 21 metrics below, SPX Technologies, Inc. leads on 15 and AAON, Inc. on 6.

Valuation

Metric AAON SPXC Building Products & Equipment median
P/E 45.69 30.69 24.54
P/S 3.79 3.49 2.00
P/B 7.25 3.68 3.02
Price to free cash flow n/m 28.52 18.49
EV/EBITDA 25.90 16.51 12.63
EV/Sales 4.01 3.68 2.14
Earnings yield 2.19% 3.26% 2.74%
Free cash flow yield (1.77%) 3.51% 3.58%

Profitability

Metric AAON SPXC Building Products & Equipment median
Gross margin 25.57% 40.24% 29.19%
Operating margin 11.05% 16.15% 6.84%
Net margin 8.24% 11.26% 4.05%
Free cash flow margin (6.71%) 12.25% 8.72%
Return on equity 17.28% 14.37% 9.28%
Return on assets 9.76% 7.70% 2.88%
Return on invested capital 9.31% 8.94% 5.16%

Growth

Metric AAON SPXC Building Products & Equipment median
Revenue growth (TTM) 53.53% 20.63% 3.11%
EPS growth (last fiscal year) (36.14%) 18.08% —
Revenue growth, 5-year CAGR 22.89% 14.96% 5.37%
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 0.26 0.43
Current ratio 3.01 1.82 1.82
Net debt to EBITDA 1.76 0.28 0.98

Dividend

Metric AAON SPXC Building Products & Equipment median
Dividend yield 0.51% — 1.20%
Payout ratio 0.18 0.00 0.04

Size

Metric AAON SPXC Building Products & Equipment median
Market cap 6.99b 8.64b 1.18b

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