AAON (AAON) Financials

$96.37 +0.22 (+0.23%)

Closing price 04:00 PM Eastern

Extended Trading

$96.31 -0.06 (-0.06%)

As of 05:15 PM Eastern

Annual Income Statements for AAON

This table shows AAON's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	169	178	100	59	79	54	42	54	53	46
Consolidated Net Income / (Loss)	169	178	100	59	79	54	42	54	53	46
Net Income / (Loss) Continuing Operations	169	178	100	59	79	54	42	54	53	46
Total Pre-Tax Income	207	223	125	69	102	67	56	75	80	71
Total Operating Income	209	227	127	69	102	67	55	74	80	71
Total Gross Profit	397	399	238	138	156	119	104	124	118	109
Total Revenue	1,201	1,169	889	535	515	469	434	405	384	359
Operating Revenue	1,201	1,169	889	535	515	469	434	405	384	359
Total Cost of Revenue	804	769	651	397	359	350	330	282	266	250
Operating Cost of Revenue	804	769	651	397	359	350	330	282	266	250
Total Operating Expenses	188	172	111	69	54	52	48	49	38	37
Selling, General & Admin Expense	188	172	111	69	60	52	48	49	39	37
Other Special Charges / (Income)	-0.02	-0.01	-0.01	-0.02	-6.48	0.34	-0.01	0.05	-0.02	-0.06
Total Other Income / (Expense), net	-2.53	-4.34	-2.23	-0.07	0.14	0.02	0.15	0.39	0.40	0.04
Interest Expense	2.91	4.84	2.63	0.13	-0.09	-0.07	-0.20	-0.30	-0.29	-0.16
Other Income / (Expense), net	0.38	0.50	0.40	0.06	0.05	-0.05	-0.05	0.09	0.11	-0.12
Income Tax Expense	38	46	24	10	23	13	13	21	27	26
Basic Earnings per Share	$2.07	$2.19	$1.26	$0.75	$1.51	$1.03	$0.81	$1.02	$1.01	$0.85
Weighted Average Basic Shares Outstanding	81.47M	81.16M	79.58M	78.61M	52.17M	52.08M	52.28M	52.57M	52.92M	54.05M
Diluted Earnings per Share	$2.02	$2.13	$1.24	$0.73	$1.49	$1.02	$0.80	$1.01	$1.00	$0.84
Weighted Average Diluted Shares Outstanding	83.63M	83.30M	81.15M	80.59M	53.06M	52.64M	52.67M	53.08M	53.45M	54.48M
Weighted Average Basic & Diluted Shares Outstanding	81.60M	81.58M	53.48M	52.53M	52.29M	52.09M	51.98M	52.40M	52.80M	53.80M
Cash Dividends to Common per Share	$0.32	$0.32	$0.29	$0.25	$0.38	$0.32	$0.32	$0.26	$0.24	$0.22

This table shows AAON's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	29	25	53	52	39	47	48	46	37	39	27
Consolidated Net Income / (Loss)	29	25	53	52	39	47	48	46	37	39	27
Net Income / (Loss) Continuing Operations	29	25	53	52	39	47	48	46	37	39	27
Total Pre-Tax Income	32	28	65	67	47	63	63	53	43	46	36
Total Operating Income	35	29	66	67	47	64	65	55	44	47	37
Total Gross Profit	86	78	114	113	92	112	116	94	77	79	66
Total Revenue	322	298	327	314	262	307	312	284	266	255	243
Operating Revenue	322	298	327	314	262	307	312	284	266	255	243
Total Cost of Revenue	236	220	213	200	170	195	196	190	189	176	177
Operating Cost of Revenue	236	220	213	200	170	195	196	190	189	176	177
Total Operating Expenses	51	48	49	46	45	48	51	39	33	32	29
Selling, General & Admin Expense	51	48	49	46	45	48	51	39	33	32	29
Other Operating Expenses / (Income)	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	-
Other Special Charges / (Income)	-0.04	-0.01	0.00	0.00	-0.02	-	-0.03	0.01	0.01	-	0.00
Total Other Income / (Expense), net	-2.63	-1.16	-1.01	-0.19	-0.16	-0.75	-1.17	-1.38	-1.04	-0.83	-0.90
Interest & Investment Income	-2.80	-	-1.09	-0.37	-	-	-1.27	-1.54	-	-	-
Other Income / (Expense), net	0.17	0.05	0.08	0.18	0.08	0.13	0.09	0.16	0.11	0.10	0.05
Income Tax Expense	3.19	3.58	12	15	7.79	16	15	7.68	6.36	6.87	8.33
Basic Earnings per Share	$0.36	$0.30	$0.65	$0.64	$0.48	$0.58	$0.59	$0.56	$0.46	$0.49	$0.34
Weighted Average Basic Shares Outstanding	81.47M	81.47M	81.09M	81.79M	81.66M	81.16M	81.42M	81.44M	80.46M	79.58M	79.78M
Diluted Earnings per Share	$0.35	$0.30	$0.63	$0.62	$0.46	$0.58	$0.58	$0.55	$0.44	$0.49	$0.34
Weighted Average Diluted Shares Outstanding	83.35M	83.63M	83.11M	83.79M	84.04M	83.30M	83.39M	83.47M	82.86M	81.15M	80.94M
Weighted Average Basic & Diluted Shares Outstanding	81.37M	81.60M	81.28M	81.01M	82.21M	81.58M	81.24M	54.41M	54.25M	53.48M	53.20M
Cash Dividends to Common per Share	$0.10	$0.08	$0.08	$0.08	$0.08	$0.08	$0.08	$0.08	$0.08	$0.16	$0.00

This table details how cash moves in and out of AAON's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-2.51	3.07	2.46	-79	38	42	-19	-2.70	16	-14
Net Cash From Operating Activities	193	159	61	61	129	98	55	58	64	55
Net Cash From Continuing Operating Activities	193	159	61	61	129	98	55	58	64	55
Net Income / (Loss) Continuing Operations	169	178	100	59	79	54	42	54	53	46
Consolidated Net Income / (Loss)	169	178	100	59	79	54	42	54	53	46
Depreciation Expense	63	46	35	30	26	23	18	15	13	12
Amortization Expense	0.34	0.41	0.37	0.12	0.04	0.01	0.01	0.05	0.25	0.27
Non-Cash Adjustments To Reconcile Net Income	-74	-12	6.97	14	6.09	14	8.20	6.72	4.91	3.12
Changes in Operating Assets and Liabilities, net	35	-53	-81	-42	18	7.81	-13	-18	-7.65	-5.50
Net Cash From Investing Activities	-213	-109	-76	-159	-61	-37	-35	-31	-17	-23
Net Cash From Continuing Investing Activities	-213	-109	-76	-159	-61	-37	-35	-31	-17	-23
Purchase of Property, Plant & Equipment	-196	-104	-76	-55	-68	-37	-37	-42	-27	-21
Acquisitions	-17	-5.20	-0.25	-103	0.00	0.00	-6.38	0.00	0.00	-
Sale of Property, Plant & Equipment	0.03	0.13	0.01	0.02	0.06	0.07	0.01	0.01	0.03	0.06
Sale and/or Maturity of Investments	0.05	0.05	0.05	0.05	0.05	6.05	25	29	24	19
Net Cash From Financing Activities	18	-47	17	19	-30	-19	-40	-30	-31	-46
Net Cash From Continuing Financing Activities	18	-47	17	19	-30	-19	-40	-30	-31	-46
Repayment of Debt	-601	-630	-195	0.00	0.00	-	-	-	-0.76	0.00
Repurchase of Common Equity	-100	-25	-13	-21	-30	-20	-27	-17	-19	-37
Payment of Dividends	-26	-26	-23	-20	-20	-17	-17	-14	-13	-12
Issuance of Debt	722	603	226	40	0.00	0.00	0.00	0.00	0.76	0.00
Other Financing Activities, net	23	32	22	20	20	18	3.89	0.65	1.24	2.21

This table details how cash moves in and out of AAON's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-4.13	-0.15	-5.41	-16	19	-14	-5.13	25	-2.97	-5.32	-6.94
Net Cash From Operating Activities	-9.21	0.85	64	36	92	52	47	55	4.82	18	45
Net Cash From Continuing Operating Activities	-9.21	0.85	64	36	92	52	47	55	4.82	18	45
Net Income / (Loss) Continuing Operations	29	25	53	52	39	47	48	46	37	39	27
Consolidated Net Income / (Loss)	29	25	53	52	39	47	48	46	37	39	27
Depreciation Expense	19	18	17	14	13	13	12	11	10	9.48	9.32
Amortization Expense	0.08	0.10	0.10	0.10	0.04	0.18	0.12	0.06	0.04	0.14	0.06
Non-Cash Adjustments To Reconcile Net Income	-49	-41	-22	-11	-0.05	-19	0.94	1.43	4.48	-1.11	3.26
Changes in Operating Assets and Liabilities, net	-8.49	-0.96	15	-20	40	11	-14	-3.02	-47	-30	4.88
Net Cash From Investing Activities	-50	-99	-38	-37	-39	-27	-22	-32	-29	-12	-14
Net Cash From Continuing Investing Activities	-50	-99	-38	-37	-39	-27	-22	-32	-29	-12	-14
Purchase of Property, Plant & Equipment	-47	-96	-34	-31	-35	-21	-22	-32	-29	-12	-14
Acquisitions	-3.72	-3.06	-4.38	-6.00	-4.06	-5.20	-	-	0.00	-	-
Sale of Property, Plant & Equipment	0.04	0.00	0.01	-	0.02	-	0.03	0.00	0.10	-	-
Sale and/or Maturity of Investments	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Net Cash From Financing Activities	55	98	-31	-15	-34	-39	-30	1.25	21	-11	-38
Net Cash From Continuing Financing Activities	55	98	-31	-15	-34	-39	-30	1.25	21	-11	-38
Repayment of Debt	-138	-208	-168	-72	-154	-193	-164	-180	-93	-80	-86
Repurchase of Common Equity	-32	-	-	-	-	-	-25	-	-	-4.79	-2.03
Payment of Dividends	-8.10	-6.51	-6.49	-6.52	-6.56	-6.50	-6.94	-6.55	-6.46	-13	-10
Issuance of Debt	236	312	138	153	119	153	170	175	105	75	56
Other Financing Activities, net	-2.41	0.78	5.86	9.71	6.80	7.51	-4.09	13	15	12	4.49

This table presents AAON's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	1,175	941	814	650	449	371	308	297	257	233
Total Current Assets	488	409	349	218	220	188	141	154	141	124
Cash & Equivalents	0.01	0.29	5.45	2.86	79	27	1.99	21	24	7.91
Restricted Cash	6.50	8.74	0.50	0.63	3.26	18	0.00	-	-	-
Accounts Receivable	147	138	127	71	47	67	54	50	43	50
Inventories, net	187	214	199	130	82	74	78	71	47	38
Prepaid Expenses	7.31	3.10	1.92	2.07	3.77	1.38	1.05	0.52	0.62	0.53
Current Deferred & Refundable Income Taxes	4.12	0.00	-	5.72	4.59	0.77	5.90	1.64	6.24	4.70
Other Current Assets	135	45	15	5.75	0.00	-	-	-	-	-
Plant, Property, & Equipment, net	510	370	305	258	223	178	163	142	115	101
Total Noncurrent Assets	177	163	160	174	5.42	5.78	4.33	0.68	0.66	7.58
Goodwill	160	150	82	86	3.23	3.23	3.23	0.00	-	-
Noncurrent Deferred & Refundable Income Taxes	0.84	0.00	-	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	16	13	14	18	2.15	1.68	0.00	-	-	1.88
Total Liabilities & Shareholders' Equity	1,175	941	814	650	449	371	308	297	257	233
Total Liabilities	351	206	253	184	98	81	59	60	51	54
Total Current Liabilities	175	127	146	87	59	56	47	50	39	43
Short-Term Debt	16	0.00	-	-	-	0.00	0.00	0.00	0.00	0.00
Accounts Payable	45	27	46	29	12	12	11	11	7.10	6.18
Accrued Expenses	99	86	79	50	47	44	37	39	32	37
Other Current Liabilities	15	14	21	7.54	0.00	-	-	-	-	-
Total Noncurrent Liabilities	176	79	108	97	39	25	11	9.49	12	11
Long-Term Debt	139	38	71	40	0.00	6.32	0.00	-	-	-
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	12	19	32	28	15	9.26	7.98	9.53	8.71
Other Noncurrent Operating Liabilities	37	29	18	25	11	3.64	1.80	0.00	0.56	1.12
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	825	735	561	466	351	290	249	237	206	179
Total Preferred & Common Equity	825	735	561	466	351	290	249	237	206	179
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	825	735	561	466	351	290	249	237	206	179
Common Stock	69	122	99	82	5.37	3.84	0.21	0.21	0.21	0.21
Retained Earnings	755	613	462	384	345	286	249	237	206	179

This table presents AAON's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,300	1,031	1,011	953	945	930	868	786
Total Current Assets	572	428	423	392	425	424	384	336
Cash & Equivalents	0.99	0.02	0.01	8.39	0.21	5.24	2.52	11
Restricted Cash	1.39	6.65	12	20	22	22	0.47	0.53
Accounts Receivable	165	144	149	110	160	154	161	134
Inventories, net	199	178	183	196	215	215	200	177
Prepaid Expenses	9.44	3.39	5.74	7.37	2.84	4.47	5.54	2.30
Current Deferred & Refundable Income Taxes	7.44	1.13	4.97	-	-	2.70	-	1.94
Other Current Assets	189	95	68	51	25	20	15	9.59
Plant, Property, & Equipment, net	552	428	413	391	357	347	325	296
Total Noncurrent Assets	176	175	174	170	162	158	159	153
Noncurrent Note & Lease Receivables	0.81	0.79	0.85	0.88	6.38	6.37	6.41	4.24
Goodwill	161	159	82	82	82	82	82	82
Noncurrent Deferred & Refundable Income Taxes	0.00	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	15	16	16	17	12	7.38	7.17	1.68
Total Liabilities & Shareholders' Equity	1,300	1,031	1,011	953	945	930	868	786
Total Liabilities	484	234	270	168	262	270	259	262
Total Current Liabilities	207	140	141	125	140	154	138	142
Short-Term Debt	16	-	-	-	-	-	-	-
Accounts Payable	77	27	29	15	30	32	30	49
Accrued Expenses	97	96	85	93	91	101	86	62
Other Current Liabilities	16	16	27	17	20	20	22	32
Total Noncurrent Liabilities	278	94	129	43	122	116	121	120
Long-Term Debt	253	72	102	16	78	79	84	76
Noncurrent Deferred & Payable Income Tax Liabilities	5.14	1.66	5.81	5.03	15	14	20	31
Other Noncurrent Operating Liabilities	20	21	21	22	28	24	17	12
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	816	797	740	785	682	660	609	524
Total Preferred & Common Equity	816	797	740	785	682	660	609	524
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	816	797	740	785	682	660	609	524
Common Stock	39	60	49	140	110	129	117	88
Retained Earnings	777	737	691	645	572	531	492	436

This table displays calculated financial ratios and metrics derived from AAON's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.75%	31.47%	66.28%	3.88%	9.63%	8.15%	7.09%	5.54%	7.07%	0.65%
EBITDA Growth	-0.84%	69.01%	63.00%	-21.79%	42.15%	22.98%	-18.36%	-3.87%	11.78%	3.71%
EBIT Growth	-8.11%	79.30%	83.46%	-31.97%	52.15%	21.09%	-25.59%	-6.74%	11.97%	4.72%
NOPAT Growth	-5.77%	77.23%	73.71%	-25.45%	46.94%	27.19%	-21.17%	0.83%	16.21%	3.87%
Net Income Growth	-5.10%	76.96%	70.83%	-25.63%	47.10%	26.89%	-21.37%	0.85%	16.73%	3.56%
EPS Growth	-5.16%	71.77%	70.83%	-25.63%	46.08%	27.50%	-20.79%	1.00%	19.05%	5.00%
Operating Cash Flow Growth	21.17%	159.13%	0.22%	-52.50%	31.54%	78.51%	-5.41%	-9.28%	15.48%	3.43%
Free Cash Flow Firm Growth	-189.35%	302.34%	88.07%	-380.86%	27.22%	3,008.10%	-82.24%	-74.17%	6.60%	4.56%
Invested Capital Growth	27.26%	22.17%	24.49%	87.17%	6.54%	1.87%	19.65%	27.54%	13.04%	10.33%
Revenue Q/Q Growth	-0.74%	4.66%	15.36%	3.80%	-1.13%	2.23%	1.92%	3.18%	-1.43%	3.61%
EBITDA Q/Q Growth	-9.95%	8.23%	35.90%	-16.04%	3.31%	9.13%	-0.89%	0.11%	-1.66%	3.73%
EBIT Q/Q Growth	-14.15%	8.22%	47.99%	-22.64%	2.57%	11.96%	-2.57%	-0.49%	-2.25%	4.03%
NOPAT Q/Q Growth	-11.41%	4.60%	48.36%	-17.64%	2.05%	10.19%	-6.03%	7.30%	-2.80%	5.61%
Net Income Q/Q Growth	-11.71%	4.81%	48.34%	-17.78%	2.09%	10.22%	-6.22%	7.35%	-2.79%	5.58%
EPS Q/Q Growth	-14.04%	2.40%	48.34%	-17.78%	0.68%	12.09%	-5.88%	6.32%	-3.85%	5.00%
Operating Cash Flow Q/Q Growth	-20.91%	27.07%	105.12%	-42.56%	3.60%	20.53%	-9.06%	-1.34%	-0.06%	4.88%
Free Cash Flow Firm Q/Q Growth	-154.78%	79.14%	90.31%	-539.74%	11.72%	34.44%	143.52%	-61.31%	16.45%	-10.30%
Invested Capital Q/Q Growth	12.88%	3.54%	6.26%	65.25%	-1.49%	0.36%	3.56%	8.62%	-0.80%	3.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.07%	34.15%	26.73%	25.79%	30.29%	25.45%	23.86%	30.51%	30.75%	30.30%
EBITDA Margin	22.70%	23.52%	18.30%	18.67%	24.79%	19.12%	16.82%	22.06%	24.22%	23.20%
Operating Margin	17.42%	19.47%	14.26%	12.96%	19.79%	14.28%	12.76%	18.32%	20.73%	19.88%
EBIT Margin	17.45%	19.51%	14.31%	12.97%	19.80%	14.27%	12.74%	18.34%	20.76%	19.85%
Profit (Net Income) Margin	14.04%	15.20%	11.29%	10.99%	15.35%	11.44%	9.75%	13.28%	13.90%	12.75%
Tax Burden Percent	81.59%	79.60%	80.60%	84.93%	77.48%	80.13%	76.27%	72.14%	66.73%	64.10%
Interest Burden Percent	98.61%	97.88%	97.93%	99.81%	100.09%	100.10%	100.35%	100.40%	100.37%	100.23%
Effective Tax Rate	18.41%	20.40%	19.40%	15.07%	22.52%	19.87%	23.73%	27.87%	33.27%	35.90%
Return on Invested Capital (ROIC)	19.64%	26.05%	18.11%	15.25%	30.31%	21.50%	18.59%	29.03%	34.76%	33.43%
ROIC Less NNEP Spread (ROIC-NNEP)	17.32%	18.73%	14.57%	15.52%	30.13%	21.42%	17.89%	28.27%	34.09%	33.37%
Return on Net Nonoperating Assets (RNNOA)	1.97%	1.36%	1.44%	-0.87%	-5.66%	-1.59%	-1.19%	-4.73%	-7.02%	-7.52%
Return on Equity (ROE)	21.61%	27.41%	19.55%	14.38%	24.65%	19.91%	17.40%	24.30%	27.74%	25.91%
Cash Return on Invested Capital (CROIC)	-4.35%	6.09%	-3.71%	-45.45%	23.97%	19.64%	0.69%	4.82%	22.52%	23.61%
Operating Return on Assets (OROA)	19.79%	25.98%	17.37%	12.61%	24.84%	19.71%	18.29%	26.87%	32.57%	30.96%
Return on Assets (ROA)	15.93%	20.24%	13.71%	10.69%	19.26%	15.81%	14.00%	19.46%	21.81%	19.89%
Return on Common Equity (ROCE)	21.61%	27.41%	19.55%	14.38%	24.65%	19.91%	17.40%	24.30%	27.74%	25.91%
Return on Equity Simple (ROE_SIMPLE)	20.44%	24.16%	17.90%	12.60%	22.52%	18.51%	16.97%	22.69%	25.92%	25.56%
Net Operating Profit after Tax (NOPAT)	171	181	102	59	79	54	42	54	53	46
NOPAT Margin	14.21%	15.50%	11.50%	11.00%	15.33%	11.44%	9.73%	13.21%	13.83%	12.74%
Net Nonoperating Expense Percent (NNEP)	2.32%	7.32%	3.54%	-0.26%	0.18%	0.08%	0.70%	0.76%	0.67%	0.06%
Return On Investment Capital (ROIC_SIMPLE)	17.42%	23.41%	16.17%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	66.93%	65.85%	73.27%	74.21%	69.71%	74.55%	76.14%	69.49%	69.25%	69.70%
SG&A Expenses to Revenue	15.66%	14.68%	12.47%	12.83%	11.76%	11.10%	11.11%	12.18%	10.03%	10.44%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.66%	14.68%	12.47%	12.83%	10.50%	11.17%	11.10%	12.19%	10.02%	10.42%
Earnings before Interest and Taxes (EBIT)	209	228	127	69	102	67	55	74	80	71
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	273	275	163	100	128	90	73	89	93	83
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.60	8.13	7.08	8.81	9.73	8.65	7.09	7.79	8.07	6.64
Price to Tangible Book Value (P/TBV)	14.40	10.22	9.59	13.24	9.83	8.76	7.20	7.79	8.07	6.64
Price to Revenue (P/Rev)	7.97	5.12	4.47	7.68	6.64	5.35	4.08	4.56	4.33	3.31
Price to Earnings (P/E)	56.75	33.67	39.58	69.91	43.23	46.73	41.79	34.33	31.12	25.96
Dividend Yield	0.27%	0.43%	0.58%	0.49%	0.58%	0.66%	0.94%	0.74%	0.76%	1.00%
Earnings Yield	1.76%	2.97%	2.53%	1.43%	2.31%	2.14%	2.39%	2.91%	3.21%	3.85%
Enterprise Value to Invested Capital (EV/IC)	9.98	7.86	6.45	8.24	12.41	9.80	7.14	8.79	9.98	8.03
Enterprise Value to Revenue (EV/Rev)	8.09	5.14	4.54	7.75	6.48	5.27	4.07	4.48	4.21	3.21
Enterprise Value to EBITDA (EV/EBITDA)	35.64	21.86	24.83	41.54	26.13	27.54	24.21	20.33	17.40	13.85
Enterprise Value to EBIT (EV/EBIT)	46.37	26.36	31.75	59.79	32.71	36.91	31.95	24.45	20.29	16.18
Enterprise Value to NOPAT (EV/NOPAT)	56.93	33.19	39.52	70.46	42.24	46.03	41.85	33.94	30.45	25.20
Enterprise Value to Operating Cash Flow (EV/OCF)	50.45	37.82	65.85	67.74	25.88	25.24	32.21	31.34	25.30	20.81
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	142.01	0.00	0.00	53.41	50.38	1,119.44	204.50	47.01	35.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.19	0.05	0.13	0.09	0.00	0.02	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.17	0.05	0.13	0.09	0.00	0.02	0.00	0.00	0.00	0.00
Financial Leverage	0.11	0.07	0.10	-0.06	-0.19	-0.07	-0.07	-0.17	-0.21	-0.23
Leverage Ratio	1.36	1.35	1.43	1.35	1.28	1.26	1.24	1.25	1.27	1.30
Compound Leverage Factor	1.34	1.33	1.40	1.34	1.28	1.26	1.25	1.25	1.28	1.31
Debt to Total Capital	15.81%	4.95%	11.24%	7.90%	0.00%	2.13%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	1.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	14.18%	4.95%	11.24%	7.90%	0.00%	2.13%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	84.19%	95.05%	88.76%	92.10%	100.00%	97.87%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.57	0.14	0.44	0.40	0.00	0.07	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.54	0.11	0.40	0.37	0.00	-0.42	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.51	0.14	0.44	0.40	0.00	0.07	0.00	0.00	0.00	0.00
Debt to NOPAT	0.91	0.21	0.69	0.68	0.00	0.12	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.87	0.16	0.64	0.62	0.00	-0.71	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.81	0.21	0.69	0.68	0.00	0.12	0.00	0.00	0.00	0.00
Altman Z-Score	19.20	20.71	12.12	15.64	24.28	21.89	21.62	22.35	23.81	17.25
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.79	3.23	2.40	2.51	3.73	3.35	2.96	3.07	3.61	2.86
Quick Ratio	0.84	1.09	0.91	0.85	2.14	1.68	1.18	1.61	2.22	1.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-38	42	-21	-175	62	49	1.58	8.89	34	32
Operating Cash Flow to CapEx	98.41%	152.54%	80.67%	110.55%	190.15%	263.97%	147.24%	139.06%	240.53%	264.81%
Free Cash Flow to Firm to Interest Expense	-13.02	8.74	-7.96	-1,327.94	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	66.28	32.81	23.34	463.51	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-1.07	11.30	-5.59	44.24	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.13	1.33	1.21	0.97	1.25	1.38	1.44	1.46	1.57	1.56
Accounts Receivable Turnover	8.41	8.81	8.98	9.05	8.97	7.73	8.31	8.68	8.26	7.62
Inventory Turnover	4.01	3.73	3.96	3.73	4.60	4.63	4.45	4.77	6.19	6.57
Fixed Asset Turnover	2.73	3.46	3.16	2.22	2.56	2.75	2.84	3.15	3.56	3.72
Accounts Payable Turnover	22.28	21.08	17.47	19.13	29.64	31.28	30.62	31.17	40.04	28.49
Days Sales Outstanding (DSO)	43.40	41.43	40.64	40.35	40.71	47.24	43.91	42.04	44.21	47.89
Days Inventory Outstanding (DIO)	91.07	97.82	92.26	97.76	79.28	78.87	81.97	76.57	58.92	55.58
Days Payable Outstanding (DPO)	16.38	17.31	20.89	19.08	12.32	11.67	11.92	11.71	9.11	12.81
Cash Conversion Cycle (CCC)	118.09	121.94	112.02	119.03	107.67	114.43	113.96	106.89	94.02	90.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	973	765	626	503	269	252	247	207	162	143
Invested Capital Turnover	1.38	1.68	1.58	1.39	1.98	1.88	1.91	2.20	2.51	2.62
Increase / (Decrease) in Invested Capital	208	139	123	234	16	4.64	41	45	19	13
Enterprise Value (EV)	9,713	6,009	4,038	4,144	3,333	2,472	1,767	1,817	1,617	1,152
Market Capitalization	9,565	5,980	3,973	4,108	3,415	2,510	1,769	1,848	1,661	1,187
Book Value per Share	$10.15	$9.05	$10.54	$8.89	$6.72	$5.57	$4.79	$4.52	$3.90	$3.31
Tangible Book Value per Share	$8.17	$7.20	$7.79	$5.92	$6.65	$5.50	$4.72	$4.52	$3.90	$3.31
Total Capital	979	774	632	506	351	296	249	237	206	179
Total Debt	155	38	71	40	0.00	6.32	0.00	0.00	0.00	0.00
Total Long-Term Debt	139	38	71	40	0.00	6.32	0.00	0.00	0.00	0.00
Net Debt	148	29	65	37	-82	-38	-1.99	-30	-44	-35
Capital Expenditures (CapEx)	196	104	76	55	68	37	37	42	27	21
Debt-free, Cash-free Net Working Capital (DFCFNWC)	323	273	198	128	79	87	91	73	58	50
Debt-free Net Working Capital (DFNWC)	329	282	204	131	161	132	93	104	102	81
Net Working Capital (NWC)	313	282	204	131	161	132	93	104	102	81
Net Nonoperating Expense (NNE)	2.06	3.45	1.80	0.06	-0.11	-0.02	-0.11	-0.28	-0.26	-0.02
Net Nonoperating Obligations (NNO)	148	29	65	37	-82	-38	-1.99	-30	-44	-35
Total Depreciation and Amortization (D&A)	63	47	35	30	26	23	18	15	13	12
Debt-free, Cash-free Net Working Capital to Revenue	26.89%	23.38%	22.23%	23.91%	15.34%	18.57%	21.01%	18.08%	15.15%	14.04%
Debt-free Net Working Capital to Revenue	27.43%	24.15%	22.90%	24.57%	31.33%	28.02%	21.47%	25.58%	26.55%	22.53%
Net Working Capital to Revenue	26.10%	24.15%	22.90%	24.57%	31.33%	28.02%	21.47%	25.58%	26.55%	22.53%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.07	$2.19	$1.26	$0.75	$1.01	$0.00	$0.54	$0.69	$0.67	$0.57
Adjusted Weighted Average Basic Shares Outstanding	81.47M	81.16M	79.58M	78.61M	78.25M	0.00	78.43M	78.86M	79.39M	81.07M
Adjusted Diluted Earnings per Share	$2.02	$2.13	$1.24	$0.73	$0.99	$0.00	$0.54	$0.69	$0.67	$0.56
Adjusted Weighted Average Diluted Shares Outstanding	83.63M	83.30M	81.15M	80.59M	79.59M	0.00	79.00M	79.62M	80.17M	81.72M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	81.60M	81.58M	80.22M	78.79M	78.43M	0.00	77.96M	78.65M	78.96M	79.57M
Normalized Net Operating Profit after Tax (NOPAT)	171	181	102	59	74	54	42	54	53	46
Normalized NOPAT Margin	14.21%	15.50%	11.49%	11.00%	14.36%	11.50%	9.73%	13.22%	13.83%	12.73%
Pre Tax Income Margin	17.21%	19.10%	14.01%	12.94%	19.82%	14.28%	12.79%	18.42%	20.83%	19.89%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	72.12	47.08	48.41	525.11	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	58.73	37.39	38.89	445.59	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	4.77	25.57	19.47	105.84	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-8.61	15.88	9.96	26.33	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	15.47%	14.89%	22.83%	33.95%	25.08%	30.99%	39.52%	25.38%	23.75%	25.93%
Augmented Payout Ratio	74.82%	28.97%	35.52%	69.48%	63.13%	67.46%	102.94%	56.26%	59.94%	105.88%

This table displays calculated financial ratios and metrics derived from AAON's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.87%	-2.91%	4.90%	10.43%	-1.45%	20.44%	28.59%	35.99%	45.51%	86.82%	75.08%
EBITDA Growth	-10.28%	-38.98%	7.63%	24.33%	10.79%	37.11%	67.08%	119.87%	81.00%	321.52%	66.34%
EBIT Growth	-25.00%	-53.96%	1.30%	22.71%	6.15%	37.08%	76.19%	165.58%	92.44%	754.25%	82.69%
NOPAT Growth	-19.13%	-46.01%	9.15%	11.77%	3.86%	20.22%	73.86%	189.15%	107.21%	528.79%	80.50%
Net Income Growth	-24.92%	-47.52%	9.46%	14.33%	5.98%	20.95%	75.00%	186.48%	103.85%	528.81%	76.32%
EPS Growth	-23.91%	-48.28%	8.62%	12.73%	4.55%	18.37%	70.59%	186.48%	103.85%	528.81%	76.32%
Operating Cash Flow Growth	-109.98%	-98.37%	35.10%	-35.52%	1,815.20%	189.04%	4.91%	955.27%	170.90%	232.43%	281.60%
Free Cash Flow Firm Growth	-543.59%	-100.46%	30.24%	11.26%	61.94%	-9.18%	60.81%	73.47%	52.54%	63.35%	-1,507.80%
Invested Capital Growth	40.08%	27.26%	16.74%	16.79%	11.93%	22.17%	25.39%	20.78%	28.05%	24.49%	93.58%
Revenue Q/Q Growth	8.17%	-9.02%	4.36%	19.64%	-14.52%	-1.71%	9.87%	6.77%	4.46%	4.94%	16.18%
EBITDA Q/Q Growth	15.24%	-43.20%	1.22%	35.41%	-21.63%	0.19%	16.93%	20.66%	-3.01%	22.09%	53.88%
EBIT Q/Q Growth	19.72%	-55.07%	-2.63%	43.21%	-26.51%	-1.14%	17.95%	23.88%	-5.10%	27.07%	77.79%
NOPAT Q/Q Growth	23.17%	-51.91%	2.05%	33.78%	-17.76%	-2.77%	4.49%	24.31%	-4.81%	40.62%	73.77%
Net Income Q/Q Growth	18.64%	-53.08%	0.76%	33.86%	-17.07%	-2.14%	5.25%	24.09%	-5.36%	41.59%	72.29%
EPS Q/Q Growth	16.67%	-52.38%	1.61%	34.78%	-20.69%	0.00%	5.45%	24.09%	-5.36%	41.59%	72.29%
Operating Cash Flow Q/Q Growth	-1,190.41%	-98.68%	79.44%	-61.52%	78.49%	9.63%	-14.35%	1,042.79%	-73.06%	-60.21%	761.46%
Free Cash Flow Firm Q/Q Growth	-52.11%	-160.57%	-4.70%	-55.09%	58.21%	9.32%	-33.18%	33.48%	-35.92%	67.46%	9.83%
Invested Capital Q/Q Growth	11.21%	12.88%	3.81%	7.50%	-0.55%	3.54%	3.85%	3.03%	10.28%	6.26%	0.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.82%	26.07%	34.88%	36.07%	35.19%	36.44%	37.22%	33.11%	29.01%	30.85%	27.04%
EBITDA Margin	16.86%	15.83%	25.35%	26.14%	23.09%	25.19%	24.71%	23.22%	20.54%	22.12%	19.02%
Operating Margin	10.90%	9.88%	20.02%	21.43%	17.92%	20.83%	20.73%	19.28%	16.62%	18.30%	15.13%
EBIT Margin	10.96%	9.90%	20.05%	21.49%	17.95%	20.88%	20.76%	19.34%	16.66%	18.34%	15.15%
Profit (Net Income) Margin	9.10%	8.29%	16.08%	16.66%	14.89%	15.34%	15.41%	16.09%	13.84%	15.28%	11.32%
Tax Burden Percent	90.18%	87.35%	81.58%	77.94%	83.35%	74.52%	75.72%	85.61%	85.28%	84.99%	76.74%
Interest Burden Percent	92.06%	95.90%	98.34%	99.46%	99.49%	98.62%	98.05%	97.19%	97.41%	98.00%	97.40%
Effective Tax Rate	9.82%	12.65%	18.42%	22.06%	16.65%	25.48%	24.28%	14.39%	14.72%	15.01%	23.26%
Return on Invested Capital (ROIC)	13.37%	11.93%	24.69%	25.89%	23.79%	26.10%	26.41%	26.59%	22.42%	24.50%	20.03%
ROIC Less NNEP Spread (ROIC-NNEP)	11.50%	10.79%	23.33%	25.67%	23.40%	24.91%	24.94%	25.01%	21.15%	23.12%	24.48%
Return on Net Nonoperating Assets (RNNOA)	1.82%	1.23%	1.91%	2.58%	1.15%	1.81%	2.50%	3.24%	2.71%	2.29%	-0.82%
Return on Equity (ROE)	15.19%	13.16%	26.60%	28.46%	24.94%	27.91%	28.91%	29.83%	25.13%	26.79%	19.21%
Cash Return on Invested Capital (CROIC)	-15.82%	-4.35%	8.63%	8.92%	13.71%	6.09%	3.56%	4.62%	-4.80%	-3.71%	-48.33%
Operating Return on Assets (OROA)	12.26%	11.23%	24.55%	26.44%	22.96%	27.80%	26.79%	23.72%	20.43%	22.27%	17.93%
Return on Assets (ROA)	10.18%	9.41%	19.70%	20.50%	19.04%	20.43%	19.89%	19.74%	16.97%	18.55%	13.40%
Return on Common Equity (ROCE)	15.19%	13.16%	26.60%	28.46%	24.94%	27.91%	28.91%	29.83%	25.13%	26.79%	19.21%
Return on Equity Simple (ROE_SIMPLE)	19.47%	0.00%	23.96%	25.17%	22.91%	0.00%	24.83%	22.55%	19.55%	0.00%	12.92%
Net Operating Profit after Tax (NOPAT)	32	26	53	52	39	48	49	47	38	40	28
NOPAT Margin	9.83%	8.63%	16.33%	16.70%	14.94%	15.53%	15.70%	16.50%	14.17%	15.55%	11.61%
Net Nonoperating Expense Percent (NNEP)	1.87%	1.14%	1.36%	0.21%	0.40%	1.19%	1.47%	1.59%	1.27%	1.39%	-4.45%
Return On Investment Capital (ROIC_SIMPLE)	2.92%	2.62%	-	-	-	6.15%	-	-	-	6.27%	-
Cost of Revenue to Revenue	73.18%	73.93%	65.12%	63.93%	64.81%	63.56%	62.78%	66.89%	70.99%	69.15%	72.96%
SG&A Expenses to Revenue	15.93%	16.19%	14.86%	14.64%	17.28%	15.61%	16.50%	13.83%	12.39%	12.55%	11.91%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.91%	16.19%	14.86%	14.64%	17.27%	15.61%	16.49%	13.83%	12.39%	12.55%	11.91%
Earnings before Interest and Taxes (EBIT)	35	29	66	67	47	64	65	55	44	47	37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	54	47	83	82	61	77	77	66	55	56	46
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.81	11.60	10.96	9.69	9.11	8.13	6.77	7.76	8.44	7.08	5.41
Price to Tangible Book Value (P/TBV)	9.73	14.40	13.69	12.30	11.31	10.22	8.58	9.93	11.08	9.59	7.53
Price to Revenue (P/Rev)	5.06	7.97	7.22	6.01	6.14	5.12	4.14	4.89	5.29	4.47	3.68
Price to Earnings (P/E)	40.14	56.75	45.76	38.48	39.76	33.67	27.27	34.39	43.15	39.58	41.90
Dividend Yield	0.44%	0.27%	0.30%	0.37%	0.36%	0.43%	0.71%	0.51%	0.57%	0.58%	0.71%
Earnings Yield	2.49%	1.76%	2.19%	2.60%	2.52%	2.97%	3.67%	2.91%	2.32%	2.53%	2.39%
Enterprise Value to Invested Capital (EV/IC)	6.14	9.98	10.21	8.75	9.24	7.86	6.33	7.27	7.57	6.45	4.92
Enterprise Value to Revenue (EV/Rev)	5.27	8.09	7.28	6.08	6.13	5.14	4.19	4.94	5.37	4.54	3.76
Enterprise Value to EBITDA (EV/EBITDA)	24.93	35.64	29.08	24.47	25.42	21.86	18.42	23.19	27.91	24.83	24.24
Enterprise Value to EBIT (EV/EBIT)	33.59	46.37	36.07	29.86	30.93	26.36	22.20	28.31	35.18	31.75	33.75
Enterprise Value to NOPAT (EV/NOPAT)	40.75	56.93	45.70	38.60	39.09	33.19	27.02	33.95	42.92	39.52	42.11
Enterprise Value to Operating Cash Flow (EV/OCF)	73.02	50.45	36.16	32.01	28.96	37.82	37.40	42.10	71.59	65.85	97.02
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	127.53	105.58	71.21	142.01	198.00	172.42	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.33	0.19	0.09	0.14	0.02	0.05	0.11	0.12	0.14	0.13	0.15
Long-Term Debt to Equity	0.31	0.17	0.09	0.14	0.02	0.05	0.11	0.12	0.14	0.13	0.15
Financial Leverage	0.16	0.11	0.08	0.10	0.05	0.07	0.10	0.13	0.13	0.10	-0.03
Leverage Ratio	1.41	1.36	1.34	1.39	1.31	1.35	1.43	1.48	1.46	1.43	1.41
Compound Leverage Factor	1.30	1.30	1.31	1.38	1.30	1.34	1.41	1.44	1.42	1.40	1.37
Debt to Total Capital	24.77%	15.81%	8.26%	12.10%	2.00%	4.95%	10.31%	10.63%	12.07%	11.24%	12.71%
Short-Term Debt to Total Capital	1.48%	1.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	23.29%	14.18%	8.26%	12.10%	2.00%	4.95%	10.31%	10.63%	12.07%	11.24%	12.71%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	75.23%	84.19%	91.74%	87.90%	98.00%	95.05%	89.69%	89.37%	87.93%	88.76%	87.29%
Debt to EBITDA	1.01	0.57	0.24	0.34	0.06	0.14	0.31	0.35	0.45	0.44	0.64
Net Debt to EBITDA	1.00	0.54	0.22	0.30	-0.04	0.11	0.22	0.23	0.43	0.40	0.54
Long-Term Debt to EBITDA	0.95	0.51	0.24	0.34	0.06	0.14	0.31	0.35	0.45	0.44	0.64
Debt to NOPAT	1.65	0.91	0.37	0.54	0.09	0.21	0.45	0.52	0.69	0.69	1.11
Net Debt to NOPAT	1.63	0.87	0.34	0.48	-0.07	0.16	0.32	0.33	0.66	0.64	0.94
Long-Term Debt to NOPAT	1.55	0.81	0.37	0.54	0.09	0.21	0.45	0.52	0.69	0.69	1.11
Altman Z-Score	10.13	18.69	25.14	18.62	28.19	20.14	13.20	13.85	14.36	11.79	8.70
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.77	2.79	3.06	2.99	3.13	3.23	3.03	2.76	2.79	2.40	2.36
Quick Ratio	0.80	0.84	1.03	1.06	0.94	1.09	1.14	1.04	1.19	0.91	1.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-278	-183	-70	-67	-43	-91	-101	-75	-113	-83	-257
Operating Cash Flow to CapEx	-19.74%	0.88%	187.66%	115.80%	266.41%	241.89%	212.20%	173.91%	16.73%	143.95%	313.35%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-180.69	0.00	0.00	0.00	-98.67	-89.48	-268.89
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	386.49	0.00	0.00	0.00	4.19	19.19	47.16
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	241.41	0.00	0.00	0.00	-20.88	5.86	32.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.12	1.13	1.22	1.23	1.28	1.33	1.29	1.23	1.23	1.21	1.18
Accounts Receivable Turnover	9.18	8.41	7.96	7.88	8.61	8.81	7.59	7.52	7.08	8.98	7.99
Inventory Turnover	4.40	4.01	3.97	3.82	3.79	3.73	3.84	3.86	4.07	3.96	4.16
Fixed Asset Turnover	2.67	2.73	3.08	3.14	3.26	3.46	3.42	3.27	3.29	3.16	2.87
Accounts Payable Turnover	18.78	22.28	27.25	24.89	33.36	21.08	19.12	21.40	21.52	17.47	15.69
Days Sales Outstanding (DSO)	39.76	43.40	45.86	46.34	42.40	41.43	48.09	48.53	51.58	40.64	45.68
Days Inventory Outstanding (DIO)	82.94	91.07	91.97	95.53	96.25	97.82	95.16	94.62	89.70	92.26	87.82
Days Payable Outstanding (DPO)	19.44	16.38	13.39	14.67	10.94	17.31	19.09	17.06	16.96	20.89	23.26
Cash Conversion Cycle (CCC)	103.27	118.09	124.43	127.21	127.71	121.94	124.15	126.09	124.31	112.02	110.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,082	973	862	830	772	765	738	711	690	626	589
Invested Capital Turnover	1.36	1.38	1.51	1.55	1.59	1.68	1.68	1.61	1.58	1.58	1.73
Increase / (Decrease) in Invested Capital	310	208	124	119	82	139	149	122	151	123	285
Enterprise Value (EV)	6,641	9,713	8,802	7,262	7,137	6,009	4,677	5,171	5,222	4,038	2,900
Market Capitalization	6,375	9,565	8,736	7,172	7,150	5,980	4,621	5,120	5,141	3,973	2,835
Book Value per Share	$10.00	$10.15	$9.84	$9.01	$9.61	$9.05	$12.54	$12.17	$11.39	$10.54	$9.85
Tangible Book Value per Share	$8.03	$8.17	$7.88	$7.09	$7.74	$7.20	$9.90	$9.50	$8.67	$7.79	$7.08
Total Capital	1,084	979	869	842	801	774	761	739	693	632	600
Total Debt	269	155	72	102	16	38	78	79	84	71	76
Total Long-Term Debt	253	139	72	102	16	38	78	79	84	71	76
Net Debt	266	148	65	90	-12	29	56	51	81	65	65
Capital Expenditures (CapEx)	47	96	34	31	35	21	22	32	29	12	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	379	323	281	270	239	273	262	243	243	198	183
Debt-free Net Working Capital (DFNWC)	381	329	288	282	267	282	285	271	246	204	194
Net Working Capital (NWC)	365	313	288	282	267	282	285	271	246	204	194
Net Nonoperating Expense (NNE)	2.37	1.02	0.82	0.15	0.14	0.56	0.89	1.18	0.88	0.70	0.69
Net Nonoperating Obligations (NNO)	266	148	65	90	-12	29	56	51	81	65	65
Total Depreciation and Amortization (D&A)	19	18	17	15	13	13	12	11	10	9.63	9.38
Debt-free, Cash-free Net Working Capital to Revenue	30.05%	26.89%	23.26%	22.58%	20.49%	23.38%	23.49%	23.19%	25.03%	22.23%	23.70%
Debt-free Net Working Capital to Revenue	30.23%	27.43%	23.81%	23.59%	22.93%	24.15%	25.51%	25.84%	25.34%	22.90%	25.16%
Net Working Capital to Revenue	28.96%	26.10%	23.81%	23.59%	22.93%	24.15%	25.51%	25.84%	25.34%	22.90%	25.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.36	$0.30	$0.65	$0.64	$0.48	$0.58	$0.59	$0.56	$0.46	$0.33	$0.35
Adjusted Weighted Average Basic Shares Outstanding	81.47M	81.47M	81.09M	81.79M	81.66M	81.16M	81.42M	81.44M	80.46M	119.37M	79.78M
Adjusted Diluted Earnings per Share	$0.35	$0.30	$0.63	$0.62	$0.46	$0.58	$0.58	$0.55	$0.45	$0.33	$0.34
Adjusted Weighted Average Diluted Shares Outstanding	83.35M	83.63M	83.11M	83.79M	84.04M	83.30M	83.39M	83.47M	82.86M	121.72M	80.94M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.30	$0.00	$0.00	$0.00	$0.58	$0.00	$0.00	$0.00	$0.33	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	81.37M	81.60M	81.28M	81.01M	82.21M	81.58M	81.24M	81.61M	81.38M	80.22M	79.80M
Normalized Net Operating Profit after Tax (NOPAT)	32	26	53	52	39	48	49	47	38	40	28
Normalized NOPAT Margin	9.82%	8.63%	16.33%	16.70%	14.93%	15.53%	15.69%	16.51%	14.18%	15.55%	11.61%
Pre Tax Income Margin	10.09%	9.49%	19.71%	21.37%	17.86%	20.59%	20.35%	18.79%	16.23%	17.98%	14.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	196.85	0.00	0.00	0.00	38.54	50.06	38.53
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	163.81	0.00	0.00	0.00	32.78	42.45	29.52
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	51.78	0.00	0.00	0.00	13.47	36.72	23.47
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	18.74	0.00	0.00	0.00	7.71	29.12	14.47
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.39%	15.47%	13.66%	14.23%	14.76%	14.89%	19.33%	24.13%	24.66%	22.83%	29.67%
Augmented Payout Ratio	100.23%	74.82%	66.05%	81.32%	14.76%	28.97%	36.92%	28.71%	24.66%	35.52%	50.08%

Frequently Asked Questions About AAON's Financials

When does AAON's fiscal year end?

According to the most recent income statement we have on file, AAON's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has AAON's net income changed over the last 9 years?

AAON's net income appears to be on an upward trend, with a most recent value of $168.56 million in 2024, rising from $45.73 million in 2015. The previous period was $177.62 million in 2023. View AAON's forecast to see where analysts expect AAON to go next.

What is AAON's operating income?

AAON's total operating income in 2024 was $209.12 million, based on the following breakdown:

Total Gross Profit: $397.11 million
Total Operating Expenses: $187.99 million

How has AAON revenue changed over the last 9 years?

Over the last 9 years, AAON's total revenue changed from $358.63 million in 2015 to $1.20 billion in 2024, a change of 234.8%.

How much debt does AAON have?

AAON's total liabilities were at $350.65 million at the end of 2024, a 70.0% increase from 2023, and a 550.1% increase since 2015.

How much cash does AAON have?

In the past 9 years, AAON's cash and equivalents has ranged from $14 thousand in 2024 to $79.03 million in 2020, and is currently $14 thousand as of their latest financial filing in 2024.

How has AAON's book value per share changed over the last 9 years?

Over the last 9 years, AAON's book value per share changed from 3.31 in 2015 to 10.15 in 2024, a change of 206.7%.

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This page (NASDAQ:AAON) was last updated on 5/30/2025 by MarketBeat.com Staff

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AAON (AAON) Financials

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AAON (AAON) Financials

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