profit from every $100 of sales.
$0$100
AAON
$76.33+1.76% today
-26.5% in 1 year
1-year low $54.421-year high $148.25
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2020 to 2025.
0%20% a year
You pay $58.50 for every $1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What AAON sold, what it kept, and what it did with the cash.
Sales went from $889 million in 2022 to $1.44 billion in 2025, with $108 million of profit last year.
SalesProfit
AAON vs. similar companies
AAON grows the fastest of these 5 and is the most expensive for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| AAON | 58.5× · Expensive | ||
 Trane Technologies | 31.9× · Expensive | ||
 Johnson Controls International | 26.6× · Fair price | ||
 Carrier Global | 30.1× · Expensive | ||
 Compagnie de Saint-Gobain | 12.8× · Cheap |
AI analysis
An AI analyst reads AAON's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 515 | 535 | 889 | 1,169 | 1,201 | 1,442 | |
| 156 | 138 | 238 | 399 | 397 | 386 | |
| 102 | 69 | 127 | 227 | 209 | 152 | |
| – | – | 163 | 242 | 230 | 226 | |
| 79 | 59 | 100 | 178 | 169 | 108 | |
| 0.99 | 0.73 | 1.24 | 2.13 | 2.02 | 1.29 | |
| 30.3% | 25.8% | 26.7% | 34.1% | 33.1% | 26.7% | |
| 19.8% | 13.0% | 14.3% | 19.5% | 17.4% | 10.6% | |
| 15.4% | 11.0% | 11.3% | 15.2% | 14.0% | 7.5% |
Balance sheet
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Total assets | 449 | 650 | 814 | 941 | 1,175 | 1,687 |
| Cash | 79 | 3 | 5 | 0 | 0 | 0 |
| Total debt | – | – | 78 | 51 | 171 | 425 |
| Total liabilities | – | – | 253 | 206 | 351 | 792 |
| 351 | 466 | 561 | 735 | 825 | 895 | |
| 80 | 81 | 81 | 83 | 84 | 83 | |
| 22.9% | 11.7% | 15.7% | 22.9% | 16.6% | 8.8% | |
| 22.5% | 12.6% | 17.9% | 24.2% | 20.4% | 12.0% |
Cash flow
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 129 | 61 | 26 | 112 | 130 | 1 | |
| – | – | 76 | 109 | 213 | 205 | |
| – | – | -50 | 3 | -83 | -204 | |
| Dividends paid | 20 | 20 | 23 | 26 | 26 | 33 |
| 30 | 21 | 13 | 25 | 100 | 30 | |
| 11 | 12 | 14 | 16 | 17 | 18 |
Valuation
- 58.5×
- 38.6×
- 10.90
- 6.3×
- 4.4×
- –
- 29.8×
- -3.2%
- 1.7%
- 0.3%
Profitability
- 26.7%
- 10.6%
- 7.5%
- 15.4%
- 9.0%
- 16.4%
- 13.4%
- 6.6%
- 11.8%
- –
Growth
- +22.9%
- +5.4%
- −6,019.7%
- +9.6%
- +0.8%
Financial health
- 1.9×
- 0.47
- 0.0%
- 8.3×
- 2.63
- 1.75
- 0.90
How it ranks in Industrials
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 39%of 982
Top 38%of 988
Bottom 11%of 870
Top 10%of 985
Bottom 11%of 988
What analysts expect
- Average price target
- $119.00
- Range
- $118.00 – $120.00
- 1 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 7, 2026 | 0.48 | 0.31 | +54.8% |
| Mar 2, 2026 | 0.39 | 0.45 | −13.3% |
| Nov 6, 2025 | 0.37 | 0.33 | +12.1% |
| Aug 11, 2025 | 0.22 | 0.31 | −29.0% |
| Apr 30, 2025 | 0.37 | 0.25 | +48.0% |
| Feb 27, 2025 | 0.30 | 0.54 | −44.4% |
| Nov 7, 2024 | 0.63 | 0.57 | +10.5% |
| Aug 1, 2024 | 0.62 | 0.51 | +21.6% |
0.3%of the share price, paid each year
On $1,000 invested$3a year at today's yield, before tax
+9.6%2020 to 2025
Raised1 yearin a row, in our data
Paid per share, each year
$0.15 in 2015 → $0.40 in 2025
How safe it looks
30.3% of its profit
Room to growStretchedMore than it earns: -17.0%
News
Why AAON Stock Popped TodayYahoo Finance · Nov 10, 2026Curtiss-Wright, Tecnoglass, AAON, Primoris, and Albany Shares Are Soaring, What You Need To KnowYahoo Finance · Oct 6, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
41No pass
Benjamin Graham
43No pass
Philip Fisher
33No pass
Peter Lynch
35No pass
Joel Greenblatt
8No pass
Charlie Munger
32No pass
Terry Smith
25No pass
Questions about AAON
Is AAON a good stock to buy?
A business with weak numbers, but the price is high. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the AAON AI analysis
What does AAON do?
AAON, Inc., together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It is in Building Products & Equipment, based in Tulsa, OK, United States, with 5,897 employees.
Does AAON pay a dividend?
Yes. At today's price the dividend is 0.3% a year, about 30% of its yearly profit. In 2025 it paid out $32.6 million in dividends.
Is AAON stock halal?
Yes. AAON passes our halal screen: its business is permitted and its debt is 7% of its market value, under the 30% limit. How we check
How has AAON stock done over the past year?
Down 26.5% over the past twelve months, to $76.33. It traded between $54.42 and $148.25 and is 48.5% below its high.
Who are AAON's competitors?
The largest listed companies in the same industry are Trane Technologies, Johnson Controls International, Carrier Global and Compagnie de Saint-Gobain. The peers table on this page compares their profit, growth and price with AAON's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.