AAON (AAON) Financials

$99.30 -0.08 (-0.08%)

As of 11:03 AM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	46	53	54	42	54	79	59	100	178	169
Consolidated Net Income / (Loss)	46	53	54	42	54	79	59	100	178	169
Net Income / (Loss) Continuing Operations	46	53	54	42	54	79	59	100	178	169
Total Pre-Tax Income	71	80	75	56	67	102	69	125	223	207
Total Operating Income	71	80	74	55	67	102	69	127	227	209
Total Gross Profit	109	118	124	104	119	156	138	238	399	397
Total Revenue	359	384	405	434	469	515	535	889	1,169	1,201
Operating Revenue	359	384	405	434	469	515	535	889	1,169	1,201
Total Cost of Revenue	250	266	282	330	350	359	397	651	769	804
Operating Cost of Revenue	250	266	282	330	350	359	397	651	769	804
Total Operating Expenses	37	38	49	48	52	54	69	111	172	188
Selling, General & Admin Expense	37	39	49	48	52	60	69	111	172	188
Other Special Charges / (Income)	-0.06	-0.02	0.05	-0.01	0.34	-6.48	-0.02	-0.01	-0.01	-0.02
Total Other Income / (Expense), net	0.04	0.40	0.39	0.15	0.02	0.14	-0.07	-2.23	-4.34	-2.53
Interest Expense	-0.16	-0.29	-0.30	-0.20	-0.07	-0.09	0.13	2.63	4.84	2.91
Other Income / (Expense), net	-0.12	0.11	0.09	-0.05	-0.05	0.05	0.06	0.40	0.50	0.38
Income Tax Expense	26	27	21	13	13	23	10	24	46	38
Basic Earnings per Share	$0.85	$1.01	$1.02	$0.81	$1.03	$1.51	$0.75	$1.26	$2.19	$2.07
Weighted Average Basic Shares Outstanding	54.05M	52.92M	52.57M	52.28M	52.08M	52.17M	78.61M	79.58M	81.16M	81.47M
Diluted Earnings per Share	$0.84	$1.00	$1.01	$0.80	$1.02	$1.49	$0.73	$1.24	$2.13	$2.02
Weighted Average Diluted Shares Outstanding	54.48M	53.45M	53.08M	52.67M	52.64M	53.06M	80.59M	81.15M	83.30M	83.63M
Weighted Average Basic & Diluted Shares Outstanding	53.80M	52.80M	52.40M	51.98M	52.09M	52.29M	52.53M	53.48M	81.58M	81.60M
Cash Dividends to Common per Share	$0.22	$0.24	$0.26	$0.32	$0.32	$0.38	$0.25	$0.29	$0.32	$0.32

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

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

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

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

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

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

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

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

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

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

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 5/5/2025 by MarketBeat.com Staff

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AAON (AAON) Financials

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AAON (AAON) Financials

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