A. O. Smith (AOS) Financials

$68.56 +1.54 (+2.30%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$68.57 +0.01 (+0.01%)

As of 05/27/2025 05:41 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	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	534	557	236	487	345	370	444	297	327	283
Consolidated Net Income / (Loss)	534	557	236	487	345	370	444	297	327	283
Net Income / (Loss) Continuing Operations	534	557	236	487	345	370	444	297	327	283
Total Pre-Tax Income	701	734	224	626	444	472	558	521	463	403
Total Operating Income	699	739	659	610	440	465	545	510	452	399
Total Gross Profit	1,456	1,485	1,330	1,311	1,108	1,181	1,306	1,232	1,114	1,010
Total Revenue	3,818	3,853	3,754	3,539	2,895	2,993	3,188	2,997	2,686	2,537
Operating Revenue	3,818	3,853	3,754	3,539	2,895	2,993	3,188	2,997	2,686	2,537
Total Cost of Revenue	2,362	2,368	2,424	2,228	1,787	1,812	1,882	1,764	1,572	1,527
Operating Cost of Revenue	2,362	2,368	2,424	2,228	1,787	1,812	1,882	1,764	1,572	1,527
Total Operating Expenses	757	746	671	701	668	716	761	723	663	611
Selling, General & Admin Expense	739	727	671	701	660	716	754	723	663	611
Restructuring Charge	18	19	0.00	0.00	7.70	0.00	6.70	0.00	0.00	-
Total Other Income / (Expense), net	1.80	-5.10	-435	16	3.70	7.00	13	11	11	3.40
Interest Expense	6.70	12	9.40	4.30	7.30	11	8.40	10	7.30	7.40
Other Income / (Expense), net	8.50	6.90	-426	20	11	18	21	21	18	11
Income Tax Expense	167	177	-12	139	99	102	114	224	136	120
Basic Earnings per Share	$3.65	$3.71	$1.52	$3.05	$2.13	$2.24	$2.60	$1.72	$1.87	$1.59
Weighted Average Basic Shares Outstanding	143.96M	147.20M	150.88M	157.39M	161.78M	161.97M	170.59M	172.67M	174.71M	177.62M
Diluted Earnings per Share	$3.63	$3.69	$1.51	$3.02	$2.12	$2.22	$2.58	$1.70	$1.85	$1.58
Weighted Average Diluted Shares Outstanding	143.96M	147.20M	150.88M	157.39M	161.78M	161.97M	170.59M	172.67M	174.71M	177.62M
Weighted Average Basic & Diluted Shares Outstanding	143.96M	147.20M	150.88M	157.39M	161.78M	161.97M	170.59M	172.67M	174.71M	177.62M
Cash Dividends to Common per Share	$1.30	$1.22	$1.14	$1.06	$0.98	$0.90	$0.76	$0.56	$0.48	$0.38

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

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

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

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

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

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

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

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 5/28/2025 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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