A. O. Smith (AOS) Financials

$67.66 -0.69 (-1.00%)

As of 02:45 PM Eastern

Annual Income Statements for A. O. Smith

This table shows A. O. Smith'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	283	327	297	444	370	345	487	236	557	534
Consolidated Net Income / (Loss)	283	327	297	444	370	345	487	236	557	534
Net Income / (Loss) Continuing Operations	283	327	297	444	370	345	487	236	557	534
Total Pre-Tax Income	403	463	521	558	472	444	626	224	734	701
Total Operating Income	399	452	510	545	465	440	610	659	739	699
Total Gross Profit	1,010	1,114	1,232	1,306	1,181	1,108	1,311	1,330	1,485	1,456
Total Revenue	2,537	2,686	2,997	3,188	2,993	2,895	3,539	3,754	3,853	3,818
Operating Revenue	2,537	2,686	2,997	3,188	2,993	2,895	3,539	3,754	3,853	3,818
Total Cost of Revenue	1,527	1,572	1,764	1,882	1,812	1,787	2,228	2,424	2,368	2,362
Operating Cost of Revenue	1,527	1,572	1,764	1,882	1,812	1,787	2,228	2,424	2,368	2,362
Total Operating Expenses	611	663	723	761	716	668	701	671	746	757
Selling, General & Admin Expense	611	663	723	754	716	660	701	671	727	739
Restructuring Charge	-	0.00	0.00	6.70	0.00	7.70	0.00	0.00	19	18
Total Other Income / (Expense), net	3.40	11	11	13	7.00	3.70	16	-435	-5.10	1.80
Interest Expense	7.40	7.30	10	8.40	11	7.30	4.30	9.40	12	6.70
Other Income / (Expense), net	11	18	21	21	18	11	20	-426	6.90	8.50
Income Tax Expense	120	136	224	114	102	99	139	-12	177	167
Basic Earnings per Share	$1.59	$1.87	$1.72	$2.60	$2.24	$2.13	$3.05	$1.52	$3.71	$3.65
Weighted Average Basic Shares Outstanding	177.62M	174.71M	172.67M	170.59M	161.97M	161.78M	157.39M	150.88M	147.20M	143.96M
Diluted Earnings per Share	$1.58	$1.85	$1.70	$2.58	$2.22	$2.12	$3.02	$1.51	$3.69	$3.63
Weighted Average Diluted Shares Outstanding	177.62M	174.71M	172.67M	170.59M	161.97M	161.78M	157.39M	150.88M	147.20M	143.96M
Weighted Average Basic & Diluted Shares Outstanding	177.62M	174.71M	172.67M	170.59M	161.97M	161.78M	157.39M	150.88M	147.20M	143.96M
Cash Dividends to Common per Share	$0.38	$0.48	$0.56	$0.76	$0.90	$0.98	$1.06	$1.14	$1.22	$1.30

This table shows A. O. Smith'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	110	-120	127	157	135	137	148	156	120	110	137
Consolidated Net Income / (Loss)	110	-120	127	157	135	137	148	156	120	110	137
Net Income / (Loss) Continuing Operations	110	-120	127	157	135	137	148	156	120	110	137
Total Pre-Tax Income	145	-243	171	209	176	177	193	207	157	145	181
Total Operating Income	150	180	171	204	181	182	193	208	161	139	183
Total Gross Profit	305	349	374	385	356	370	385	396	337	338	375
Total Revenue	874	936	966	961	938	988	979	1,024	903	912	964
Operating Revenue	874	936	966	961	938	988	979	1,024	903	912	964
Total Cost of Revenue	569	588	592	576	581	618	594	628	565	574	589
Operating Cost of Revenue	569	588	592	576	581	618	594	628	565	574	589
Total Operating Expenses	156	169	203	180	175	188	192	189	177	200	193
Selling, General & Admin Expense	156	169	187	180	175	185	192	189	177	182	193
Total Other Income / (Expense), net	-4.80	-423	0.00	4.50	-4.90	-4.70	0.20	-0.90	-4.10	6.60	-1.70
Interest Expense	2.40	3.40	4.00	4.50	2.40	1.10	1.00	1.80	1.50	2.40	2.90
Other Income / (Expense), net	-2.40	-419	4.00	9.00	-2.50	-3.60	1.20	0.90	-2.60	9.00	1.20
Income Tax Expense	35	-123	44	52	41	40	45	50	37	35	45
Basic Earnings per Share	$0.71	($0.76)	$0.84	$1.04	$0.90	$0.93	$1.00	$1.07	$0.82	$0.76	$0.95
Weighted Average Basic Shares Outstanding	152.78M	150.88M	150.44M	150.49M	148.72M	147.20M	146.67M	145.85M	145.00M	143.96M	142.11M
Diluted Earnings per Share	$0.71	($0.77)	$0.84	$1.04	$0.90	$0.91	$1.00	$1.06	$0.82	$0.75	$0.95
Weighted Average Diluted Shares Outstanding	152.78M	150.88M	150.44M	150.49M	148.72M	147.20M	146.67M	145.85M	145.00M	143.96M	142.11M
Weighted Average Basic & Diluted Shares Outstanding	152.78M	150.88M	150.44M	150.49M	148.72M	147.20M	146.67M	145.85M	145.00M	143.96M	142.11M
Cash Dividends to Common per Share	$0.28	-	$0.30	$0.30	$0.30	-	$0.32	$0.32	$0.32	-	$0.34

This table details how cash moves in and out of A. O. Smith'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	4.20	6.80	16	-87	114	199	-130	-52	-51	-100
Net Cash From Operating Activities	352	447	326	449	456	562	641	391	670	582
Net Cash From Continuing Operating Activities	352	447	326	449	456	562	641	391	670	582
Net Income / (Loss) Continuing Operations	283	327	297	444	370	345	487	236	557	534
Consolidated Net Income / (Loss)	283	327	297	444	370	345	487	236	557	534
Depreciation Expense	63	65	70	72	78	80	78	77	78	79
Non-Cash Adjustments To Reconcile Net Income	8.90	9.40	92	10	13	13	12	261	26	20
Changes in Operating Assets and Liabilities, net	-3.10	46	-132	-77	-5.40	125	64	-182	9.00	-50
Net Cash From Investing Activities	-186	-300	-158	-13	34	12	-350	8.10	-24	-267
Net Cash From Continuing Investing Activities	-186	-300	-158	-13	34	12	-350	8.10	-24	-267
Purchase of Property, Plant & Equipment	-73	-81	-94	-85	-64	-57	-75	-70	-73	-108
Acquisitions	0.00	-91	-43	0.00	-107	0.00	-208	-8.00	-17	-146
Purchase of Investments	-429	-564	-584	-523	-273	-157	-185	-92	-63	-74
Sale and/or Maturity of Investments	315	435	563	596	478	226	118	178	128	61
Net Cash From Financing Activities	-161	-140	-152	-523	-376	-375	-421	-431	-685	-408
Net Cash From Continuing Financing Activities	-161	-140	-152	-523	-376	-375	-421	-431	-685	-408
Repayment of Debt	-	-	-	-189	0.00	-171	84	-	-218	70
Repurchase of Common Equity	-128	-135	-139	-203	-288	-57	-367	-404	-307	-306
Payment of Dividends	-68	-84	-97	-130	-149	-159	-170	-177	-184	-190
Other Financing Activities, net	6.40	5.70	-2.60	-1.40	-1.50	11	32	-0.70	23	18
Effect of Exchange Rate Changes	-	-	-	-	-	0.00	0.00	-21	-13	-6.60

This table details how cash moves in and out of A. O. Smith'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	-0.60	32	15	-27	-98	59	-88	-36	3.20	20	-67
Net Cash From Operating Activities	160	177	120	140	179	231	107	57	196	222	39
Net Cash From Continuing Operating Activities	160	177	120	140	179	231	107	57	196	222	39
Net Income / (Loss) Continuing Operations	110	-120	127	157	135	137	148	156	120	110	137
Consolidated Net Income / (Loss)	110	-120	127	157	135	137	148	156	120	110	137
Depreciation Expense	18	20	19	19	19	21	20	20	20	19	21
Non-Cash Adjustments To Reconcile Net Income	1.40	250	23	-2.90	1.50	5.20	8.30	2.10	2.30	6.90	6.10
Changes in Operating Assets and Liabilities, net	31	26	-49	-33	23	68	-69	-121	53	86	-125
Net Cash From Investing Activities	17	-50	-9.80	44	-65	6.70	-71	11	-51	-156	-11
Net Cash From Continuing Investing Activities	17	-50	-9.80	44	-65	6.70	-71	11	-51	-156	-11
Purchase of Property, Plant & Equipment	-20	-19	-11	-14	-19	-30	-22	-23	-33	-31	-21
Acquisitions	-	-	0.00	-	-16	-0.70	-21	-0.20	-	-125	0.00
Purchase of Investments	-18	-56	-15	-	-48	-	-48	-2.80	-22	-0.80	-23
Sale and/or Maturity of Investments	56	26	16	57	18	37	20	37	3.50	-	33
Net Cash From Financing Activities	-141	-111	-98	-194	-210	-184	-121	-103	-144	-41	-95
Net Cash From Continuing Financing Activities	-141	-111	-98	-194	-210	-184	-121	-103	-144	-41	-95
Repayment of Debt	-	-	-3.70	-136	-76	-3.20	-6.80	6.80	-6.90	77	77
Repurchase of Common Equity	-92	-122	-53	-17	-92	-145	-75	-79	-84	-69	-121
Payment of Dividends	-43	-46	-45	-45	-45	-48	-47	-47	-47	-50	-49
Other Financing Activities, net	1.00	0.90	4.70	3.60	3.00	12	8.00	1.40	7.80	0.90	-1.80
Effect of Exchange Rate Changes	-37	17	2.40	-18	-2.60	4.90	-3.10	-0.90	2.30	-4.90	0.60

This table presents A. O. Smith'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	2,629	2,891	3,197	3,072	3,058	3,161	3,474	3,332	3,214	3,240
Total Current Assets	1,403	1,562	1,767	1,639	1,500	1,618	1,753	1,634	1,500	1,393
Cash & Equivalents	324	330	347	260	374	573	443	391	340	240
Short-Term Investments	322	424	473	385	177	117	188	91	24	37
Accounts Receivable	501	519	593	647	590	585	634	581	596	541
Inventories, net	223	251	297	305	303	300	448	516	497	532
Other Current Assets	34	38	57	42	57	43	39	54	44	43
Plant, Property, & Equipment, net	443	462	529	540	545	541	607	591	598	629
Total Noncurrent Assets	783	867	902	893	1,012	1,001	1,115	1,108	1,116	1,218
Goodwill	421	492	517	513	546	547	628	620	633	762
Intangible Assets	291	308	309	293	338	324	365	348	337	321
Other Noncurrent Operating Assets	71	67	76	87	128	131	123	140	146	136
Total Liabilities & Shareholders' Equity	2,629	2,891	3,197	3,072	3,058	3,161	3,474	3,332	3,214	3,240
Total Liabilities	1,187	1,376	1,553	1,355	1,391	1,312	1,642	1,585	1,370	1,357
Total Current Liabilities	653	766	794	785	767	886	1,119	934	945	897
Short-Term Debt	13	7.20	7.50	-	6.80	6.80	6.80	10	10	10
Accounts Payable	425	529	535	544	510	595	746	626	600	589
Accrued Expenses	134	146	161	162	186	210	253	223	243	220
Current Employee Benefit Liabilities	82	84	91	79	65	75	113	76	92	79
Total Noncurrent Liabilities	534	610	759	569	625	426	523	650	424	459
Long-Term Debt	236	316	403	221	277	106	190	335	117	183
Noncurrent Employee Benefit Liabilities	134	109	48	49	28	14	16	9.90	11	11
Other Noncurrent Operating Liabilities	163	185	308	298	320	306	318	306	296	265
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	1,442	1,515	1,645	1,717	1,667	1,848	1,832	1,748	1,844	1,884
Total Preferred & Common Equity	1,442	1,515	1,645	1,717	1,667	1,848	1,832	1,748	1,844	1,884
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	1,442	1,515	1,645	1,717	1,667	1,848	1,832	1,748	1,844	1,884
Common Stock	766	774	782	661	804	816	840	851	873	896
Retained Earnings	1,351	1,593	1,789	2,103	2,323	2,510	2,827	2,885	3,258	3,601
Treasury Stock	-361	-488	-627	-827	-1,113	-1,156	-1,503	-1,906	-2,203	-2,502
Accumulated Other Comprehensive Income / (Loss)	-313	-363	-300	-351	-348	-321	-331	-82	-84	-112

This table presents A. O. Smith'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	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
Total Assets	3,232	3,332	3,336	3,249	3,200	3,214	3,182	3,198	3,154	3,240	3,268
Total Current Assets	1,570	1,634	1,644	1,561	1,505	1,500	1,462	1,481	1,413	1,393	1,422
Cash & Equivalents	359	391	406	379	281	340	252	216	219	240	173
Short-Term Investments	58	91	90	31	61	24	52	17	36	37	27
Accounts Receivable	564	581	587	589	587	596	585	650	558	541	642
Inventories, net	526	516	504	509	519	497	522	545	555	532	533
Other Current Assets	63	54	57	54	56	44	52	53	44	43	48
Plant, Property, & Equipment, net	584	591	586	577	581	598	599	603	625	629	634
Plant, Property & Equipment, gross	1,339	-	1,376	1,372	1,382	-	1,430	1,447	1,487	-	1,518
Accumulated Depreciation	756	-	790	795	801	-	831	844	862	-	883
Total Noncurrent Assets	1,079	1,108	1,107	1,111	1,115	1,116	1,122	1,113	1,117	1,218	1,211
Goodwill	619	620	620	622	631	633	652	650	652	762	707
Intangible Assets	350	348	345	343	339	337	334	330	327	321	374
Other Noncurrent Operating Assets	110	140	142	146	145	146	137	133	138	136	130
Total Liabilities & Shareholders' Equity	3,232	3,332	3,336	3,249	3,200	3,214	3,182	3,198	3,154	3,240	3,268
Total Liabilities	1,484	1,585	1,546	1,360	1,318	1,370	1,300	1,286	1,238	1,357	1,413
Total Current Liabilities	901	934	896	861	896	945	883	872	844	897	882
Short-Term Debt	6.80	10	10	10	10	10	10	10	10	10	10
Accounts Payable	596	626	550	545	562	600	558	575	556	589	541
Accrued Expenses	228	223	275	232	237	243	261	217	207	220	268
Current Employee Benefit Liabilities	71	76	60	74	87	92	54	70	72	79	63
Total Noncurrent Liabilities	583	650	650	500	422	424	417	414	393	459	531
Long-Term Debt	281	335	331	196	120	117	110	130	110	183	260
Other Noncurrent Operating Liabilities	302	306	320	304	303	296	307	283	284	265	271
Total Equity & Noncontrolling Interests	1,748	1,748	1,790	1,888	1,882	1,844	1,882	1,912	1,917	1,884	1,855
Total Preferred & Common Equity	1,748	1,748	1,790	1,888	1,882	1,844	1,882	1,912	1,917	1,884	1,855
Total Common Equity	1,748	1,748	1,790	1,888	1,882	1,844	1,882	1,912	1,917	1,884	1,855
Common Stock	850	851	859	863	866	873	884	888	895	896	901
Retained Earnings	3,051	2,885	2,967	3,078	3,169	3,258	3,359	3,468	3,541	3,601	3,689
Treasury Stock	-1,785	-1,906	-1,956	-1,971	-2,062	-2,203	-2,273	-2,352	-2,434	-2,502	-2,624
Accumulated Other Comprehensive Income / (Loss)	-368	-82	-80	-82	-90	-84	-88	-92	-85	-112	-110

This table displays calculated financial ratios and metrics derived from A. O. Smith'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	7.66%	5.89%	11.57%	6.38%	-6.12%	-3.25%	22.23%	6.08%	2.63%	-0.90%
EBITDA Growth	34.27%	13.11%	12.36%	6.17%	-12.02%	-5.38%	33.25%	-56.20%	165.74%	-4.53%
EBIT Growth	40.18%	14.61%	13.01%	6.65%	-14.68%	-6.60%	39.61%	-62.99%	219.82%	-5.07%
NOPAT Growth	34.76%	13.68%	-9.02%	49.59%	-16.01%	-6.17%	38.75%	46.25%	-19.24%	-5.04%
Net Income Growth	36.14%	15.41%	-9.19%	49.81%	-16.70%	-6.78%	41.23%	-51.61%	136.15%	-4.13%
EPS Growth	36.14%	17.09%	-8.11%	51.76%	-13.95%	-4.50%	42.45%	-50.00%	144.37%	-1.63%
Operating Cash Flow Growth	33.22%	26.98%	-26.91%	37.53%	1.63%	23.21%	14.05%	-38.95%	71.26%	-13.20%
Free Cash Flow Firm Growth	65.74%	-5.69%	-50.43%	170.20%	-31.23%	81.62%	-25.68%	37.88%	16.93%	-39.58%
Invested Capital Growth	-1.61%	3.65%	13.93%	4.70%	8.20%	-9.11%	9.88%	15.23%	-0.13%	11.96%
Revenue Q/Q Growth	0.50%	2.23%	2.41%	1.40%	-2.02%	2.97%	4.77%	-1.56%	1.37%	-1.94%
EBITDA Q/Q Growth	8.17%	1.52%	4.80%	2.15%	-6.20%	6.84%	4.56%	-57.66%	102.96%	-3.91%
EBIT Q/Q Growth	9.45%	1.58%	5.09%	2.33%	-7.40%	8.38%	5.05%	-64.46%	127.29%	-4.13%
NOPAT Q/Q Growth	10.02%	-0.96%	-15.47%	30.28%	-8.11%	9.54%	3.19%	38.60%	-20.23%	-6.38%
Net Income Q/Q Growth	10.38%	0.90%	-16.83%	30.42%	-8.64%	9.08%	4.19%	-52.42%	86.03%	-4.92%
EPS Q/Q Growth	10.38%	-0.54%	-17.87%	29.00%	-10.48%	9.28%	4.86%	-52.06%	83.58%	-4.22%
Operating Cash Flow Q/Q Growth	4.27%	18.09%	-2.04%	-3.55%	3.75%	10.96%	5.36%	-18.29%	8.87%	-1.59%
Free Cash Flow Firm Q/Q Growth	4.73%	30.08%	-22.07%	7.66%	-3.10%	11.30%	-29.39%	140.63%	-13.58%	-25.76%
Invested Capital Q/Q Growth	-2.85%	-8.34%	-8.34%	-2.88%	-4.26%	-5.92%	6.06%	-0.50%	-3.71%	1.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.81%	41.48%	41.13%	40.95%	39.45%	38.28%	37.04%	35.42%	38.54%	38.14%
EBITDA Margin	18.64%	19.92%	20.06%	20.02%	18.76%	18.35%	20.00%	8.26%	21.38%	20.60%
Operating Margin	15.73%	16.82%	17.01%	17.10%	15.54%	15.20%	17.22%	17.55%	19.17%	18.31%
EBIT Margin	16.16%	17.49%	17.72%	17.76%	16.14%	15.58%	17.80%	6.21%	19.35%	18.54%
Profit (Net Income) Margin	11.15%	12.16%	9.89%	13.93%	12.36%	11.91%	13.76%	6.28%	14.45%	13.98%
Tax Burden Percent	70.29%	70.59%	56.93%	79.63%	78.37%	77.70%	77.86%	105.36%	75.88%	76.12%
Interest Burden Percent	98.19%	98.45%	98.10%	98.52%	97.72%	98.38%	99.32%	95.97%	98.39%	99.05%
Effective Tax Rate	29.71%	29.41%	43.07%	20.37%	21.63%	22.30%	22.14%	-5.36%	24.12%	23.88%
Return on Invested Capital (ROIC)	26.60%	29.94%	25.02%	34.33%	27.07%	25.61%	35.56%	46.15%	34.83%	31.23%
ROIC Less NNEP Spread (ROIC-NNEP)	25.93%	28.09%	23.50%	31.88%	25.49%	24.93%	33.08%	206.40%	36.90%	30.37%
Return on Net Nonoperating Assets (RNNOA)	-6.56%	-7.86%	-6.25%	-7.90%	-5.20%	-5.98%	-9.09%	-32.98%	-3.84%	-2.60%
Return on Equity (ROE)	20.04%	22.08%	18.76%	26.43%	21.87%	19.62%	26.47%	13.17%	30.99%	28.63%
Cash Return on Invested Capital (CROIC)	28.22%	26.35%	12.00%	29.73%	19.20%	35.15%	26.15%	31.99%	34.96%	19.94%
Operating Return on Assets (OROA)	15.94%	17.02%	17.44%	18.06%	15.76%	14.51%	18.99%	6.85%	22.78%	21.93%
Return on Assets (ROA)	11.00%	11.83%	9.74%	14.17%	12.07%	11.09%	14.68%	6.93%	17.01%	16.54%
Return on Common Equity (ROCE)	20.04%	22.08%	18.76%	26.43%	21.87%	19.62%	26.47%	13.17%	30.99%	28.63%
Return on Equity Simple (ROE_SIMPLE)	19.61%	21.55%	18.03%	25.87%	22.20%	18.66%	26.59%	13.49%	30.18%	28.33%
Net Operating Profit after Tax (NOPAT)	281	319	290	434	365	342	475	694	560	532
NOPAT Margin	11.06%	11.87%	9.68%	13.61%	12.18%	11.81%	13.41%	18.49%	14.55%	13.94%
Net Nonoperating Expense Percent (NNEP)	0.67%	1.84%	1.52%	2.45%	1.59%	0.68%	2.48%	-160.26%	-2.07%	0.86%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	33.17%	28.43%	25.63%
Cost of Revenue to Revenue	60.19%	58.52%	58.87%	59.05%	60.55%	61.72%	62.96%	64.58%	61.46%	61.86%
SG&A Expenses to Revenue	24.08%	24.67%	24.12%	23.65%	23.91%	22.81%	19.82%	17.87%	18.88%	19.36%
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	24.08%	24.67%	24.12%	23.86%	23.91%	23.07%	19.82%	17.87%	19.37%	19.82%
Earnings before Interest and Taxes (EBIT)	410	470	531	566	483	451	630	233	746	708
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	473	535	601	638	561	531	708	310	824	787
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.09	4.81	5.73	3.84	4.31	4.52	7.16	4.81	6.51	5.22
Price to Tangible Book Value (P/TBV)	8.08	10.20	11.51	7.23	9.18	8.55	15.62	10.78	13.73	12.29
Price to Revenue (P/Rev)	2.33	2.72	3.15	2.07	2.40	2.89	3.71	2.24	3.12	2.58
Price to Earnings (P/E)	20.87	22.35	31.81	14.83	19.42	24.23	26.93	35.67	21.57	18.44
Dividend Yield	1.13%	1.14%	1.02%	1.96%	2.04%	1.89%	1.29%	2.07%	1.51%	1.92%
Earnings Yield	4.79%	4.48%	3.14%	6.74%	5.15%	4.13%	3.71%	2.80%	4.64%	5.42%
Enterprise Value to Invested Capital (EV/IC)	5.27	6.33	7.30	4.77	4.94	6.12	9.08	5.14	7.32	5.42
Enterprise Value to Revenue (EV/Rev)	2.17	2.56	3.01	1.93	2.31	2.69	3.58	2.20	3.05	2.56
Enterprise Value to EBITDA (EV/EBITDA)	11.65	12.83	15.01	9.66	12.32	14.64	17.92	26.68	14.29	12.41
Enterprise Value to EBIT (EV/EBIT)	13.44	14.61	17.00	10.89	14.32	17.24	20.14	35.48	15.79	13.79
Enterprise Value to NOPAT (EV/NOPAT)	19.64	21.53	31.10	14.20	18.98	22.74	26.73	11.92	21.00	18.33
Enterprise Value to Operating Cash Flow (EV/OCF)	15.66	15.37	27.65	13.73	15.17	13.84	19.78	21.13	17.56	16.77
Enterprise Value to Free Cash Flow (EV/FCFF)	18.51	24.46	64.86	16.40	26.76	16.57	36.35	17.19	20.92	28.70
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.17	0.21	0.25	0.13	0.17	0.06	0.11	0.20	0.07	0.10
Long-Term Debt to Equity	0.16	0.21	0.24	0.13	0.17	0.06	0.10	0.19	0.06	0.10
Financial Leverage	-0.25	-0.28	-0.27	-0.25	-0.20	-0.24	-0.27	-0.16	-0.10	-0.09
Leverage Ratio	1.82	1.87	1.93	1.86	1.81	1.77	1.80	1.90	1.82	1.73
Compound Leverage Factor	1.79	1.84	1.89	1.84	1.77	1.74	1.79	1.82	1.79	1.71
Debt to Total Capital	14.72%	17.60%	19.97%	11.42%	14.56%	5.77%	9.69%	16.47%	6.46%	9.30%
Short-Term Debt to Total Capital	0.76%	0.39%	0.36%	0.00%	0.35%	0.35%	0.34%	0.48%	0.51%	0.48%
Long-Term Debt to Total Capital	13.96%	17.21%	19.60%	11.42%	14.21%	5.42%	9.36%	15.99%	5.95%	8.82%
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	85.28%	82.40%	80.03%	88.58%	85.44%	94.23%	90.31%	83.53%	93.54%	90.70%
Debt to EBITDA	0.53	0.61	0.68	0.35	0.51	0.21	0.28	1.11	0.15	0.25
Net Debt to EBITDA	-0.84	-0.81	-0.68	-0.66	-0.48	-1.09	-0.61	-0.44	-0.29	-0.11
Long-Term Debt to EBITDA	0.50	0.59	0.67	0.35	0.49	0.20	0.27	1.08	0.14	0.23
Debt to NOPAT	0.89	1.01	1.41	0.51	0.78	0.33	0.41	0.50	0.23	0.36
Net Debt to NOPAT	-1.41	-1.35	-1.41	-0.98	-0.73	-1.69	-0.92	-0.20	-0.42	-0.16
Long-Term Debt to NOPAT	0.84	0.99	1.39	0.51	0.76	0.31	0.40	0.48	0.21	0.34
Altman Z-Score	5.53	5.75	6.28	5.86	5.95	6.60	7.77	6.00	8.85	7.99
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	2.15	2.04	2.23	2.09	1.96	1.83	1.57	1.75	1.59	1.55
Quick Ratio	1.76	1.66	1.78	1.65	1.49	1.44	1.13	1.14	1.01	0.91
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	298	281	139	376	259	470	349	481	563	340
Operating Cash Flow to CapEx	483.77%	553.41%	346.50%	526.88%	708.39%	989.61%	853.66%	556.76%	923.28%	538.70%
Free Cash Flow to Firm to Interest Expense	40.22	38.45	13.77	44.75	23.50	64.32	81.15	51.18	46.88	50.74
Operating Cash Flow to Interest Expense	47.53	61.18	32.32	53.44	41.47	77.00	149.09	41.64	55.86	86.84
Operating Cash Flow Less CapEx to Interest Expense	37.70	50.12	22.99	43.30	35.62	69.22	131.63	34.16	49.81	70.72
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.99	0.97	0.98	1.02	0.98	0.93	1.07	1.10	1.18	1.18
Accounts Receivable Turnover	5.19	5.27	5.39	5.14	4.84	4.93	5.80	6.18	6.55	6.71
Inventory Turnover	7.08	6.63	6.44	6.26	5.96	5.93	5.96	5.03	4.67	4.59
Fixed Asset Turnover	5.83	5.94	6.05	5.96	5.51	5.33	6.17	6.27	6.49	6.23
Accounts Payable Turnover	3.73	3.30	3.32	3.49	3.44	3.24	3.32	3.53	3.86	3.97
Days Sales Outstanding (DSO)	70.28	69.31	67.68	70.99	75.42	74.03	62.88	59.10	55.76	54.37
Days Inventory Outstanding (DIO)	51.55	55.04	56.70	58.34	61.21	61.59	61.25	72.58	78.13	79.54
Days Payable Outstanding (DPO)	97.87	110.72	110.02	104.59	106.10	112.82	109.85	103.26	94.50	91.88
Cash Conversion Cycle (CCC)	23.96	13.64	14.36	24.73	30.53	22.80	14.29	28.41	39.39	42.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,046	1,084	1,235	1,293	1,399	1,272	1,398	1,610	1,608	1,801
Invested Capital Turnover	2.41	2.52	2.58	2.52	2.22	2.17	2.65	2.50	2.39	2.24
Increase / (Decrease) in Invested Capital	-17	38	151	58	106	-128	126	213	-2.10	192
Enterprise Value (EV)	5,509	6,865	9,023	6,164	6,918	7,779	12,684	8,270	11,769	9,757
Market Capitalization	5,905	7,296	9,433	6,588	7,186	8,355	13,118	8,408	12,005	9,840
Book Value per Share	$16.39	$8.71	$9.57	$10.10	$10.22	$11.45	$11.51	$11.44	$12.40	$12.99
Tangible Book Value per Share	$8.30	$4.11	$4.77	$5.36	$4.80	$6.05	$5.28	$5.11	$5.88	$5.52
Total Capital	1,691	1,839	2,055	1,938	1,951	1,962	2,029	2,092	1,972	2,077
Total Debt	249	324	410	221	284	113	197	345	127	193
Total Long-Term Debt	236	316	403	221	277	106	190	335	117	183
Net Debt	-396	-431	-410	-424	-267	-576	-435	-137	-236	-83
Capital Expenditures (CapEx)	73	81	94	85	64	57	75	70	73	108
Debt-free, Cash-free Net Working Capital (DFCFNWC)	118	49	161	208	189	49	9.20	228	202	230
Debt-free Net Working Capital (DFNWC)	763	804	981	853	741	739	641	710	565	506
Net Working Capital (NWC)	750	796	973	853	734	732	634	700	555	496
Net Nonoperating Expense (NNE)	-2.39	-7.62	-6.38	-10	-5.49	-2.87	-13	458	3.87	-1.37
Net Nonoperating Obligations (NNO)	-396	-431	-410	-424	-267	-576	-435	-137	-236	-83
Total Depreciation and Amortization (D&A)	63	65	70	72	78	80	78	77	78	79
Debt-free, Cash-free Net Working Capital to Revenue	4.64%	1.82%	5.36%	6.53%	6.33%	1.69%	0.26%	6.07%	5.23%	6.01%
Debt-free Net Working Capital to Revenue	30.08%	29.92%	32.72%	26.76%	24.75%	25.51%	18.10%	18.90%	14.66%	13.24%
Net Working Capital to Revenue	29.57%	29.65%	32.47%	26.76%	24.52%	25.27%	17.91%	18.63%	14.41%	12.98%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.60	$1.87	$1.72	$2.60	$2.24	$2.13	$3.05	$1.52	$3.71	$3.65
Adjusted Weighted Average Basic Shares Outstanding	175.60M	173.25M	171.51M	167.91M	161.97M	161.78M	157.39M	150.88M	147.20M	143.96M
Adjusted Diluted Earnings per Share	$1.58	$1.85	$1.70	$2.58	$2.22	$2.12	$3.02	$1.51	$3.69	$3.63
Adjusted Weighted Average Diluted Shares Outstanding	175.60M	173.25M	171.51M	167.91M	161.97M	161.78M	157.39M	150.88M	147.20M	143.96M
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	175.60M	173.25M	171.51M	167.91M	161.97M	161.78M	157.39M	150.88M	147.20M	143.96M
Normalized Net Operating Profit after Tax (NOPAT)	281	319	290	439	365	348	475	461	575	546
Normalized NOPAT Margin	11.06%	11.87%	9.68%	13.78%	12.18%	12.02%	13.41%	12.28%	14.92%	14.29%
Pre Tax Income Margin	15.87%	17.22%	17.38%	17.50%	15.78%	15.33%	17.68%	5.96%	19.04%	18.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	55.39	64.36	52.56	67.40	43.92	61.81	146.49	24.80	62.13	105.63
NOPAT to Interest Expense	37.91	43.68	28.73	51.67	33.14	46.85	110.36	73.83	46.71	79.44
EBIT Less CapEx to Interest Expense	45.57	53.30	43.24	57.26	38.06	54.03	129.02	17.32	56.08	89.51
NOPAT Less CapEx to Interest Expense	28.08	32.63	19.40	41.52	27.28	39.07	92.90	66.35	40.66	63.32
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	23.97%	25.79%	32.68%	29.29%	40.32%	46.01%	34.92%	75.18%	32.97%	35.68%
Augmented Payout Ratio	69.25%	67.20%	79.60%	74.90%	118.08%	62.45%	110.16%	246.37%	88.03%	92.99%

This table displays calculated financial ratios and metrics derived from A. O. Smith'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	-4.42%	-5.97%	-1.16%	-0.53%	7.24%	5.56%	1.28%	6.61%	-3.72%	-7.66%	-1.52%
EBITDA Growth	-11.32%	-207.88%	9.02%	25.30%	19.90%	190.73%	9.67%	-1.85%	-9.99%	-16.10%	-4.03%
EBIT Growth	-12.13%	-230.73%	10.88%	27.48%	21.55%	174.32%	10.50%	-2.34%	-11.58%	-17.13%	-5.01%
NOPAT Growth	-11.84%	-7.13%	2.52%	19.98%	22.67%	12.05%	16.19%	2.12%	-11.44%	-25.71%	-6.49%
Net Income Growth	-16.57%	-186.03%	5.93%	24.41%	23.32%	214.32%	16.31%	-0.51%	-11.30%	-20.10%	-7.45%
EPS Growth	-13.41%	-188.51%	10.53%	28.40%	26.76%	218.18%	19.05%	1.92%	-8.89%	-17.58%	-5.00%
Operating Cash Flow Growth	-11.34%	-33.14%	626.67%	270.18%	11.54%	30.90%	-11.09%	-59.09%	9.56%	-4.06%	-63.70%
Free Cash Flow Firm Growth	-214.96%	-984.05%	115.10%	161.73%	146.68%	264.22%	400.28%	-77.21%	-85.54%	-161.23%	-205.20%
Invested Capital Growth	22.83%	15.23%	7.22%	3.26%	3.19%	-0.13%	3.88%	7.95%	6.62%	11.96%	13.32%
Revenue Q/Q Growth	-9.49%	7.08%	3.24%	-0.58%	-2.43%	5.40%	-0.94%	4.65%	-11.88%	1.09%	5.64%
EBITDA Q/Q Growth	-10.84%	-232.55%	188.77%	19.43%	-14.68%	0.30%	7.29%	6.89%	-21.75%	-6.50%	22.72%
EBIT Q/Q Growth	-12.13%	-262.81%	173.19%	21.73%	-16.21%	-0.45%	8.82%	7.59%	-24.14%	-6.70%	24.75%
NOPAT Q/Q Growth	-11.40%	10.88%	0.88%	21.05%	-9.41%	1.28%	4.61%	6.40%	-21.44%	-15.04%	31.68%
Net Income Q/Q Growth	-13.00%	-209.38%	205.66%	23.72%	-13.76%	1.40%	7.50%	5.83%	-23.11%	-8.66%	24.52%
EPS Q/Q Growth	-12.35%	-208.45%	209.09%	23.81%	-13.46%	1.11%	9.89%	6.00%	-22.64%	-8.54%	26.67%
Operating Cash Flow Q/Q Growth	322.96%	10.23%	-32.14%	17.01%	27.44%	29.36%	-53.91%	-46.15%	241.29%	13.27%	-82.56%
Free Cash Flow Firm Q/Q Growth	-15.18%	53.51%	119.29%	497.73%	-12.90%	63.56%	-41.25%	-72.78%	-44.74%	-792.72%	-0.95%
Invested Capital Q/Q Growth	-0.80%	-0.50%	1.53%	3.04%	-0.86%	-3.71%	5.60%	7.08%	-2.08%	1.11%	6.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.89%	37.24%	38.71%	40.04%	37.99%	37.43%	39.30%	38.66%	37.37%	37.06%	38.95%
EBITDA Margin	18.91%	-23.41%	20.13%	24.18%	21.14%	20.12%	21.79%	22.26%	19.77%	18.28%	21.24%
Operating Margin	17.10%	19.20%	17.73%	21.27%	19.34%	18.38%	19.67%	20.26%	17.80%	15.18%	18.96%
EBIT Margin	16.83%	-25.58%	18.14%	22.21%	19.07%	18.01%	19.79%	20.35%	17.52%	16.17%	19.09%
Profit (Net Income) Margin	12.56%	-12.83%	13.13%	16.34%	14.44%	13.90%	15.08%	15.25%	13.31%	12.02%	14.17%
Tax Burden Percent	75.88%	49.44%	74.08%	75.16%	76.76%	77.61%	76.60%	75.61%	76.69%	75.60%	75.43%
Interest Burden Percent	98.37%	101.42%	97.72%	97.89%	98.66%	99.38%	99.48%	99.14%	99.05%	98.37%	98.42%
Effective Tax Rate	24.12%	0.00%	25.92%	24.84%	23.24%	22.39%	23.40%	24.40%	23.31%	24.40%	24.57%
Return on Invested Capital (ROIC)	33.71%	33.54%	31.11%	36.04%	34.31%	34.15%	34.93%	34.35%	30.81%	25.71%	30.03%
ROIC Less NNEP Spread (ROIC-NNEP)	34.73%	119.52%	31.11%	34.18%	36.51%	36.10%	34.84%	34.81%	32.62%	22.58%	32.28%
Return on Net Nonoperating Assets (RNNOA)	-6.75%	-19.10%	-3.80%	-3.39%	-3.43%	-3.75%	-3.21%	-2.72%	-2.99%	-1.93%	-0.98%
Return on Equity (ROE)	26.96%	14.44%	27.31%	32.65%	30.88%	30.40%	31.72%	31.63%	27.82%	23.78%	29.05%
Cash Return on Invested Capital (CROIC)	13.62%	31.99%	36.10%	38.04%	39.59%	34.96%	31.06%	25.71%	26.54%	19.94%	16.36%
Operating Return on Assets (OROA)	19.65%	-28.22%	20.05%	25.27%	22.54%	21.20%	23.47%	24.80%	21.47%	19.13%	22.51%
Return on Assets (ROA)	14.67%	-14.15%	14.52%	18.59%	17.07%	16.36%	17.88%	18.59%	16.31%	14.23%	16.71%
Return on Common Equity (ROCE)	26.96%	14.44%	27.31%	32.65%	30.88%	30.40%	31.72%	31.63%	27.82%	23.78%	29.05%
Return on Equity Simple (ROE_SIMPLE)	28.34%	0.00%	13.56%	14.49%	15.89%	0.00%	30.68%	30.16%	29.28%	0.00%	28.17%
Net Operating Profit after Tax (NOPAT)	113	126	127	154	139	141	147	157	123	105	138
NOPAT Margin	12.98%	13.44%	13.13%	15.99%	14.84%	14.26%	15.06%	15.32%	13.65%	11.48%	14.30%
Net Nonoperating Expense Percent (NNEP)	-1.03%	-85.98%	0.00%	1.85%	-2.20%	-1.95%	0.09%	-0.46%	-1.81%	3.13%	-2.25%
Return On Investment Capital (ROIC_SIMPLE)	-	6.01%	-	-	-	7.15%	-	-	-	5.04%	6.49%
Cost of Revenue to Revenue	65.11%	62.76%	61.29%	59.96%	62.01%	62.57%	60.70%	61.34%	62.63%	62.94%	61.05%
SG&A Expenses to Revenue	17.79%	18.04%	19.37%	18.77%	18.66%	18.72%	19.64%	18.40%	19.57%	19.95%	19.98%
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	17.79%	18.04%	20.99%	18.77%	18.66%	19.05%	19.64%	18.40%	19.57%	21.88%	19.98%
Earnings before Interest and Taxes (EBIT)	147	-240	175	213	179	178	194	208	158	148	184
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	165	-219	195	232	198	199	213	228	178	167	205
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.17	4.81	5.73	5.70	5.20	6.51	7.00	6.27	6.84	5.22	5.07
Price to Tangible Book Value (P/TBV)	9.37	10.78	12.42	11.66	10.72	13.73	14.68	12.88	13.97	12.29	12.16
Price to Revenue (P/Rev)	1.91	2.24	2.74	2.88	2.58	3.12	3.41	3.05	3.36	2.58	2.47
Price to Earnings (P/E)	14.73	35.67	42.24	39.36	32.73	21.57	22.81	20.81	23.35	18.44	18.00
Dividend Yield	2.37%	2.07%	1.71%	1.65%	1.84%	1.51%	1.39%	1.54%	1.42%	1.92%	2.02%
Earnings Yield	6.79%	2.80%	2.37%	2.54%	3.06%	4.64%	4.38%	4.81%	4.28%	5.42%	5.55%
Enterprise Value to Invested Capital (EV/IC)	4.43	5.14	6.18	6.27	5.74	7.32	7.65	6.54	7.28	5.42	4.92
Enterprise Value to Revenue (EV/Rev)	1.88	2.20	2.70	2.83	2.52	3.05	3.36	3.03	3.33	2.56	2.49
Enterprise Value to EBITDA (EV/EBITDA)	9.79	26.68	30.97	28.33	23.60	14.29	15.41	14.20	15.84	12.41	12.19
Enterprise Value to EBIT (EV/EBIT)	10.93	35.48	40.35	35.66	29.20	15.79	17.00	15.68	17.56	13.79	13.58
Enterprise Value to NOPAT (EV/NOPAT)	14.31	11.92	14.84	15.45	13.63	21.00	22.35	20.37	22.81	18.33	18.14
Enterprise Value to Operating Cash Flow (EV/OCF)	14.96	21.13	20.41	17.69	15.56	17.56	19.76	20.73	21.93	16.77	18.44
Enterprise Value to Free Cash Flow (EV/FCFF)	35.84	17.19	17.71	16.75	14.72	20.92	25.08	26.43	28.32	28.70	31.98
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.16	0.20	0.19	0.11	0.07	0.07	0.06	0.07	0.06	0.10	0.15
Long-Term Debt to Equity	0.16	0.19	0.18	0.10	0.06	0.06	0.06	0.07	0.06	0.10	0.14
Financial Leverage	-0.19	-0.16	-0.12	-0.10	-0.09	-0.10	-0.09	-0.08	-0.09	-0.09	-0.03
Leverage Ratio	1.79	1.90	1.88	1.78	1.77	1.82	1.78	1.70	1.67	1.73	1.73
Compound Leverage Factor	1.76	1.93	1.84	1.75	1.75	1.81	1.77	1.68	1.66	1.70	1.70
Debt to Total Capital	14.14%	16.47%	15.99%	9.84%	6.44%	6.46%	5.98%	6.84%	5.88%	9.30%	12.70%
Short-Term Debt to Total Capital	0.33%	0.48%	0.47%	0.48%	0.50%	0.51%	0.50%	0.49%	0.49%	0.48%	0.47%
Long-Term Debt to Total Capital	13.80%	15.99%	15.52%	9.36%	5.94%	5.95%	5.48%	6.35%	5.39%	8.82%	12.23%
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	85.86%	83.53%	84.01%	90.16%	93.56%	93.54%	94.02%	93.16%	94.12%	90.70%	87.30%
Debt to EBITDA	0.39	1.11	1.05	0.55	0.32	0.15	0.14	0.17	0.15	0.25	0.35
Net Debt to EBITDA	-0.18	-0.44	-0.48	-0.55	-0.52	-0.29	-0.22	-0.11	-0.17	-0.11	0.09
Long-Term Debt to EBITDA	0.38	1.08	1.01	0.53	0.29	0.14	0.13	0.16	0.13	0.23	0.33
Debt to NOPAT	0.57	0.50	0.50	0.30	0.18	0.23	0.21	0.24	0.21	0.36	0.52
Net Debt to NOPAT	-0.26	-0.20	-0.23	-0.30	-0.30	-0.42	-0.32	-0.16	-0.24	-0.16	0.13
Long-Term Debt to NOPAT	0.56	0.48	0.49	0.29	0.17	0.21	0.19	0.22	0.19	0.34	0.50
Altman Z-Score	5.85	5.54	6.79	7.70	7.45	8.27	9.19	8.79	9.54	7.42	7.12
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	1.74	1.75	1.84	1.81	1.68	1.59	1.65	1.70	1.67	1.55	1.61
Quick Ratio	1.09	1.14	1.21	1.16	1.04	1.01	1.00	1.01	0.96	0.91	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-187	-87	17	100	87	143	84	23	13	-88	-88
Operating Cash Flow to CapEx	793.56%	910.82%	1,120.56%	1,039.26%	966.49%	773.58%	484.55%	250.66%	602.77%	725.16%	181.69%
Free Cash Flow to Firm to Interest Expense	-78.07	-25.62	4.20	22.32	36.44	130.04	84.05	12.71	8.43	-36.50	-30.49
Operating Cash Flow to Interest Expense	66.79	51.97	29.98	31.18	74.50	210.27	106.60	31.89	130.60	92.46	13.34
Operating Cash Flow Less CapEx to Interest Expense	58.38	46.26	27.30	28.18	66.79	183.09	84.60	19.17	108.93	79.71	6.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.17	1.10	1.11	1.14	1.18	1.18	1.19	1.22	1.23	1.18	1.18
Accounts Receivable Turnover	6.42	6.18	6.26	6.18	6.60	6.55	6.60	6.34	6.80	6.71	6.20
Inventory Turnover	5.60	5.03	4.80	4.64	4.47	4.67	4.62	4.60	4.48	4.59	4.47
Fixed Asset Turnover	6.79	6.27	6.30	6.39	6.53	6.49	6.53	6.66	6.46	6.23	6.17
Accounts Payable Turnover	3.97	3.53	3.94	3.98	4.04	3.86	4.28	4.33	4.31	3.97	4.29
Days Sales Outstanding (DSO)	56.86	59.10	58.28	59.10	55.30	55.76	55.31	57.55	53.69	54.37	58.84
Days Inventory Outstanding (DIO)	65.22	72.58	76.08	78.61	81.57	78.13	79.01	79.36	81.46	79.54	81.70
Days Payable Outstanding (DPO)	91.94	103.26	92.70	91.80	90.38	94.50	85.34	84.37	84.78	91.88	85.09
Cash Conversion Cycle (CCC)	30.14	28.41	41.66	45.91	46.49	39.39	48.99	52.54	50.37	42.03	55.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,619	1,610	1,635	1,685	1,670	1,608	1,698	1,819	1,781	1,801	1,925
Invested Capital Turnover	2.60	2.50	2.37	2.25	2.31	2.39	2.32	2.24	2.26	2.24	2.10
Increase / (Decrease) in Invested Capital	301	213	110	53	52	-2.10	63	134	111	192	226
Enterprise Value (EV)	7,167	8,270	10,100	10,565	9,579	11,769	12,985	11,902	12,965	9,757	9,479
Market Capitalization	7,296	8,408	10,255	10,769	9,791	12,005	13,168	11,995	13,101	9,840	9,409
Book Value per Share	$11.32	$11.44	$11.87	$12.55	$12.51	$12.40	$12.78	$13.03	$13.14	$12.99	$12.89
Tangible Book Value per Share	$5.04	$5.11	$5.47	$6.14	$6.07	$5.88	$6.09	$6.35	$6.43	$5.52	$5.38
Total Capital	2,036	2,092	2,131	2,094	2,012	1,972	2,002	2,052	2,036	2,077	2,125
Total Debt	288	345	341	206	130	127	120	140	120	193	270
Total Long-Term Debt	281	335	331	196	120	117	110	130	110	183	260
Net Debt	-129	-137	-155	-204	-212	-236	-183	-93	-136	-83	70
Capital Expenditures (CapEx)	20	19	11	14	19	30	22	23	33	31	21
Debt-free, Cash-free Net Working Capital (DFCFNWC)	258	228	262	301	277	202	285	386	323	230	350
Debt-free Net Working Capital (DFNWC)	676	710	758	711	619	565	588	619	578	506	550
Net Working Capital (NWC)	669	700	748	701	609	555	578	609	568	496	540
Net Nonoperating Expense (NNE)	3.64	246	0.00	-3.38	3.76	3.65	-0.15	0.68	3.14	-4.99	1.28
Net Nonoperating Obligations (NNO)	-129	-137	-155	-204	-212	-236	-183	-93	-136	-83	70
Total Depreciation and Amortization (D&A)	18	20	19	19	19	21	20	20	20	19	21
Debt-free, Cash-free Net Working Capital to Revenue	6.78%	6.07%	7.00%	8.05%	7.29%	5.23%	7.37%	9.82%	8.29%	6.01%	9.20%
Debt-free Net Working Capital to Revenue	17.71%	18.90%	20.26%	19.01%	16.28%	14.66%	15.22%	15.75%	14.85%	13.24%	14.46%
Net Working Capital to Revenue	17.54%	18.63%	19.99%	18.75%	16.02%	14.41%	14.96%	15.50%	14.60%	12.98%	14.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.71	($0.76)	$0.84	$1.04	$0.90	$0.93	$1.00	$1.07	$0.82	$0.76	$0.95
Adjusted Weighted Average Basic Shares Outstanding	152.78M	150.88M	150.44M	150.49M	148.72M	147.20M	146.67M	145.85M	145.00M	143.96M	142.11M
Adjusted Diluted Earnings per Share	$0.71	($0.77)	$0.84	$1.04	$0.90	$0.91	$1.00	$1.06	$0.82	$0.75	$0.95
Adjusted Weighted Average Diluted Shares Outstanding	152.78M	150.88M	150.44M	150.49M	148.72M	147.20M	146.67M	145.85M	145.00M	143.96M	142.11M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	152.78M	150.88M	150.44M	150.49M	148.72M	147.20M	146.67M	145.85M	145.00M	143.96M	142.11M
Normalized Net Operating Profit after Tax (NOPAT)	113	126	138	154	139	141	147	157	123	105	138
Normalized NOPAT Margin	12.98%	13.44%	14.33%	15.99%	14.84%	14.26%	15.06%	15.32%	13.65%	11.48%	14.30%
Pre Tax Income Margin	16.55%	-25.95%	17.73%	21.74%	18.82%	17.90%	19.69%	20.17%	17.35%	15.90%	18.79%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	61.29	-70.44	43.83	47.42	74.50	161.82	193.70	115.78	105.40	61.46	63.45
NOPAT to Interest Expense	47.27	37.00	31.73	34.14	57.98	128.13	147.45	87.16	82.16	43.63	47.55
EBIT Less CapEx to Interest Expense	52.88	-76.15	41.15	44.42	66.79	134.64	171.70	103.06	83.73	48.71	56.10
NOPAT Less CapEx to Interest Expense	38.85	31.29	29.05	31.14	50.28	100.95	125.45	74.43	60.50	30.88	40.20
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	35.49%	75.18%	73.48%	65.75%	60.76%	32.97%	32.12%	32.45%	33.62%	35.68%	36.80%
Augmented Payout Ratio	123.60%	246.37%	217.09%	169.08%	155.31%	88.03%	88.91%	100.12%	101.73%	92.99%	104.13%

Frequently Asked Questions About A. O. Smith's Financials

When does A. O. Smith's financial year end?

According to the most recent income statement we have on file, A. O. Smith's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has A. O. Smith's net income changed over the last 9 years?

A. O. Smith's net income appears to be on an upward trend, with a most recent value of $533.60 million in 2024, rising from $282.90 million in 2015. The previous period was $556.60 million in 2023. See where experts think A. O. Smith is headed by visiting A. O. Smith's forecast page.

What is A. O. Smith's operating income?

A. O. Smith's total operating income in 2024 was $699.20 million, based on the following breakdown:

Total Gross Profit: $1.46 billion
Total Operating Expenses: $756.90 million

How has A. O. Smith revenue changed over the last 9 years?

Over the last 9 years, A. O. Smith's total revenue changed from $2.54 billion in 2015 to $3.82 billion in 2024, a change of 50.5%.

How much debt does A. O. Smith have?

A. O. Smith's total liabilities were at $1.36 billion at the end of 2024, a 0.9% decrease from 2023, and a 14.3% increase since 2015.

How much cash does A. O. Smith have?

In the past 9 years, A. O. Smith's cash and equivalents has ranged from $239.60 million in 2024 to $573.10 million in 2020, and is currently $239.60 million as of their latest financial filing in 2024.

How has A. O. Smith's book value per share changed over the last 9 years?

Over the last 9 years, A. O. Smith's book value per share changed from 16.39 in 2015 to 12.99 in 2024, a change of -20.7%.

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This page (NYSE:AOS) was last updated on 5/6/2025 by MarketBeat.com Staff

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A. O. Smith (AOS) Financials

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A. O. Smith (AOS) Financials

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