(AAON) AAON - Overview
Sector: Industrials | Industry: Building Products & Equipment | Exchange: NASDAQ (USA) | Market Cap: 6.755m USD | Total Return: 9.5% in 12m
Industry Rotation: -5.8
Avg Turnover: 62.6M USD
Peers RS (IBD): 62.5
EPS Trend: -59.8%
Qual. Beats: 0
Rev. Trend: 89.4%
Qual. Beats: 2
volatile
No distinct edge detected
AAON, Inc. (NASDAQ: AAON) designs, manufactures, markets and sells a full line of HVAC equipment-including rooftop units, data-center cooling, cleanroom systems, chillers, heat pumps and coils-to commercial customers across the United States and Canada. The business is organized into three operating segments: AAON Oklahoma (core HVAC units), AAON Coil Products (heat-exchange components) and BASX (building-automation solutions). Sales are delivered through independent representatives, an internal force and an expanding online channel.
In its most recent quarter (Q4 FY 2025), AAON reported revenue of $1.07 billion, up 5 % year-over-year, and a net income of $70 million, translating to an EPS of $2.30. The company’s order backlog stood at $1.22 billion, indicating roughly 14 months of demand coverage, while operating margin improved to 9.5 % as supply-chain constraints eased.
The HVAC sector is being propelled by several macro trends: U.S. commercial construction spending is forecast to grow at a 3.8 % CAGR through 2028, data-center capacity additions are expected to increase cooling demand by 6 % annually, and stricter energy-efficiency regulations are driving adoption of geothermal and water-source heat-pump systems-areas where AAON has a growing product portfolio.
For deeper valuation insights, you might explore AAON’s profile on ValueRay.
- Commercial construction spending impacts HVAC equipment demand
- Raw material costs influence manufacturing profitability
- Data center growth drives specialized cooling system sales
- Regulatory changes for energy efficiency affect product development
| Net Income: 107.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.11 > 0.02 and ΔFCF/TA -11.34 > 1.0 |
| NWC/Revenue: 37.33% < 20% (prev 26.10%; Δ 11.23% < -1%) |
| CFO/TA 0.00 > 3% & CFO 534k > Net Income 107.6m |
| Net Debt (433.4m) to EBITDA (225.7m): 1.92 < 3 |
| Current Ratio: 2.63 > 1.5 & < 3 |
| Outstanding Shares: last quarter (83.1m) vs 12m ago -0.56% < -2% |
| Gross Margin: 26.75% > 18% (prev 0.33%; Δ 2.64k% > 0.5%) |
| Asset Turnover: 100.8% > 50% (prev 102.2%; Δ -1.38% > 0%) |
| Interest Coverage Ratio: 8.26 > 6 (EBITDA TTM 225.7m / Interest Expense TTM 17.7m) |
| A: 0.32 (Total Current Assets 869.2m - Total Current Liabilities 330.9m) / Total Assets 1.69b |
| B: 0.49 (Retained Earnings 830.3m / Total Assets 1.69b) |
| C: 0.10 (EBIT TTM 146.5m / Avg Total Assets 1.43b) |
| D: 1.05 (Book Value of Equity 830.6m / Total Liabilities 791.5m) |
| Altman-Z'' Score: 5.49 = AAA |
| DSRI: 1.71 (Receivables 588.9m/287.0m, Revenue 1.44b/1.20b) |
| GMI: 1.24 (GM 26.75% / 33.07%) |
| AQI: 0.73 (AQ_t 0.10 / AQ_t-1 0.14) |
| SGI: 1.20 (Revenue 1.44b / 1.20b) |
| TATA: 0.06 (NI 107.6m - CFO 534k) / TA 1.69b) |
| Beneish M-Score: -2.18 (Cap -4..+1) = BB |
Over the past week, the price has changed by +3.87%, over one month by -7.90%, over three months by -0.39% and over the past year by +9.52%.
- StrongBuy: 2
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 122.8 | 50.9% |
P/E Forward = 51.0204
P/S = 4.6844
P/B = 9.629
P/EG = 3.3972
Revenue TTM = 1.44b USD
EBIT TTM = 146.5m USD
EBITDA TTM = 225.7m USD
Long Term Debt = 398.3m USD (from longTermDebt, last quarter)
Short Term Debt = 10.8m USD (from shortTermDebt, last quarter)
Debt = 433.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 433.4m USD (from netDebt column, last quarter)
Enterprise Value = 7.19b USD (6.76b + Debt 433.4m - CCE 13.0k)
Interest Coverage Ratio = 8.26 (Ebit TTM 146.5m / Interest Expense TTM 17.7m)
EV/FCF = -37.83x (Enterprise Value 7.19b / FCF TTM -190.0m)
FCF Yield = -2.64% (FCF TTM -190.0m / Enterprise Value 7.19b)
FCF Margin = -13.18% (FCF TTM -190.0m / Revenue TTM 1.44b)
Net Margin = 7.46% (Net Income TTM 107.6m / Revenue TTM 1.44b)
Gross Margin = 26.75% ((Revenue TTM 1.44b - Cost of Revenue TTM 1.06b) / Revenue TTM)
Gross Margin QoQ = 25.88% (prev 27.81%)
Tobins Q-Ratio = 4.26 (Enterprise Value 7.19b / Total Assets 1.69b)
Interest Expense / Debt = 1.33% (Interest Expense 5.76m / Debt 433.4m)
Taxrate = 16.41% (6.29m / 38.3m)
NOPAT = 122.4m (EBIT 146.5m * (1 - 16.41%))
Current Ratio = 2.63 (Total Current Assets 869.2m / Total Current Liabilities 330.9m)
Debt / Equity = 0.48 (Debt 433.4m / totalStockholderEquity, last quarter 895.0m)
Debt / EBITDA = 1.92 (Net Debt 433.4m / EBITDA 225.7m)
Debt / FCF = -2.28 (negative FCF - burning cash) (Net Debt 433.4m / FCF TTM -190.0m)
Total Stockholder Equity = 851.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 7.52% (Net Income 107.6m / Total Assets 1.69b)
RoE = 12.63% (Net Income TTM 107.6m / Total Stockholder Equity 851.7m)
RoCE = 11.72% (EBIT 146.5m / Capital Employed (Equity 851.7m + L.T.Debt 398.3m))
RoIC = 10.33% (NOPAT 122.4m / Invested Capital 1.19b)
WACC = 10.46% (E(6.76b)/V(7.19b) * Re(11.06%) + D(433.4m)/V(7.19b) * Rd(1.33%) * (1-Tc(0.16)))
Discount Rate = 11.06% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.20%
[DCF] Fair Price = unknown (Cash Flow -190.0m)
EPS Correlation: -59.81 | EPS CAGR: -40.90% | SUE: -3.60 | # QB: 0
Revenue Correlation: 89.38 | Revenue CAGR: 25.17% | SUE: 1.78 | # QB: 2
EPS next Quarter (2026-06-30): EPS=0.47 | Chg7d=+0.000 | Chg30d=-0.053 | Revisions Net=-2 | Analysts=5
EPS current Year (2026-12-31): EPS=1.99 | Chg7d=+0.000 | Chg30d=+0.010 | Revisions Net=-1 | Growth EPS=+47.7% | Growth Revenue=+19.0%
EPS next Year (2027-12-31): EPS=2.96 | Chg7d=-0.158 | Chg30d=-0.158 | Revisions Net=-3 | Growth EPS=+48.5% | Growth Revenue=+13.1%
[Analyst] Revisions Ratio: -0.50 (1 Up / 3 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 9.5% (Discount Rate 11.1% - Earnings Yield 1.6%)
[Growth] Growth Spread = +26.6% (Analyst 36.1% - Implied 9.5%)