AAON INC (AAON) Stock Fundamental Analysis

NASDAQ:AAON • US0003602069

101.2 USD
+2.31 (+2.34%)
At close: Feb 27, 2026
101.2 USD
0 (0%)
After Hours: 2/27/2026, 8:00:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

Overall AAON gets a fundamental rating of 6 out of 10. We evaluated AAON against 42 industry peers in the Building Products industry. While AAON has a great profitability rating, there are some minor concerns on its financial health. AAON is valued quite expensive, but it does show an excellent growth. These ratings would make AAON suitable for growth investing!


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year AAON was profitable.
  • In the past year AAON has reported a negative cash flow from operations.
  • AAON had positive earnings in each of the past 5 years.
  • AAON had a positive operating cash flow in each of the past 5 years.
AAON Yearly Net Income VS EBIT VS OCF VS FCFAAON Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M

1.2 Ratios

  • The Return On Assets of AAON (6.56%) is better than 61.90% of its industry peers.
  • AAON's Return On Equity of 11.65% is in line compared to the rest of the industry. AAON outperforms 59.52% of its industry peers.
  • AAON has a Return On Invested Capital (8.17%) which is in line with its industry peers.
  • AAON had an Average Return On Invested Capital over the past 3 years of 18.30%. This is significantly above the industry average of 11.90%.
  • The last Return On Invested Capital (8.17%) for AAON is well below the 3 year average (18.30%), which needs to be investigated, but indicates that AAON had better years and this may not be a problem.
Industry RankSector Rank
ROA 6.56%
ROE 11.65%
ROIC 8.17%
ROA(3y)15.18%
ROA(5y)14.44%
ROE(3y)20.84%
ROE(5y)19.53%
ROIC(3y)18.3%
ROIC(5y)16.85%
AAON Yearly ROA, ROE, ROICAAON Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

1.3 Margins

  • Looking at the Profit Margin, with a value of 7.64%, AAON is in the better half of the industry, outperforming 61.90% of the companies in the same industry.
  • AAON's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 9.98%, AAON is in line with its industry, outperforming 45.24% of the companies in the same industry.
  • In the last couple of years the Operating Margin of AAON has grown nicely.
  • AAON has a Gross Margin of 26.88%. This is in the lower half of the industry: AAON underperforms 61.90% of its industry peers.
  • AAON's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 9.98%
PM (TTM) 7.64%
GM 26.88%
OM growth 3Y10.34%
OM growth 5Y3.96%
PM growth 3Y8.47%
PM growth 5Y4.17%
GM growth 3Y8.66%
GM growth 5Y5.39%
AAON Yearly Profit, Operating, Gross MarginsAAON Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), AAON is creating value.
  • AAON has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for AAON has been increased compared to 5 years ago.
  • The debt/assets ratio for AAON is higher compared to a year ago.
AAON Yearly Shares OutstandingAAON Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
AAON Yearly Total Debt VS Total AssetsAAON Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

2.2 Solvency

  • AAON has an Altman-Z score of 9.49. This indicates that AAON is financially healthy and has little risk of bankruptcy at the moment.
  • AAON's Altman-Z score of 9.49 is amongst the best of the industry. AAON outperforms 97.62% of its industry peers.
  • AAON has a Debt/Equity ratio of 0.44. This is a healthy value indicating a solid balance between debt and equity.
  • With a decent Debt to Equity ratio value of 0.44, AAON is doing good in the industry, outperforming 61.90% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF N/A
Altman-Z 9.49
ROIC/WACC0.91
WACC8.93%
AAON Yearly LT Debt VS Equity VS FCFAAON Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

2.3 Liquidity

  • A Current Ratio of 3.04 indicates that AAON has no problem at all paying its short term obligations.
  • AAON has a Current ratio of 3.04. This is in the better half of the industry: AAON outperforms 73.81% of its industry peers.
  • AAON has a Quick Ratio of 2.03. This indicates that AAON is financially healthy and has no problem in meeting its short term obligations.
  • AAON's Quick ratio of 2.03 is amongst the best of the industry. AAON outperforms 80.95% of its industry peers.
Industry RankSector Rank
Current Ratio 3.04
Quick Ratio 2.03
AAON Yearly Current Assets VS Current LiabilitesAAON Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. Growth

3.1 Past

  • AAON shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -44.49%.
  • AAON shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.49% yearly.
  • Looking at the last year, AAON shows a quite strong growth in Revenue. The Revenue has grown by 8.77% in the last year.
  • Measured over the past years, AAON shows a very strong growth in Revenue. The Revenue has been growing by 20.67% on average per year.
EPS 1Y (TTM)-44.49%
EPS 3Y37.89%
EPS 5Y23.49%
EPS Q2Q%-41.27%
Revenue 1Y (TTM)8.77%
Revenue growth 3Y30.96%
Revenue growth 5Y20.67%
Sales Q2Q%17.41%

3.2 Future

  • AAON is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.22% yearly.
  • Based on estimates for the next years, AAON will show a quite strong growth in Revenue. The Revenue will grow by 15.82% on average per year.
EPS Next Y-29.72%
EPS Next 2Y0.55%
EPS Next 3Y17.12%
EPS Next 5Y18.22%
Revenue Next Year13.62%
Revenue Next 2Y12.98%
Revenue Next 3Y13.67%
Revenue Next 5Y15.82%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
AAON Yearly Revenue VS EstimatesAAON Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 500M 1B 1.5B 2B 2.5B
AAON Yearly EPS VS EstimatesAAON Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4

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Find the best growth stocksShow best growing peers

1

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 80.32, the valuation of AAON can be described as expensive.
  • 76.19% of the companies in the same industry are cheaper than AAON, based on the Price/Earnings ratio.
  • AAON's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.10.
  • A Price/Forward Earnings ratio of 49.80 indicates a quite expensive valuation of AAON.
  • 73.81% of the companies in the same industry are cheaper than AAON, based on the Price/Forward Earnings ratio.
  • When comparing the Price/Forward Earnings ratio of AAON to the average of the S&P500 Index (28.06), we can say AAON is valued expensively.
Industry RankSector Rank
PE 80.32
Fwd PE 49.8
AAON Price Earnings VS Forward Price EarningsAAON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • 78.57% of the companies in the same industry are cheaper than AAON, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 40.59
AAON Per share dataAAON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

  • AAON has a very decent profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as AAON's earnings are expected to grow with 17.12% in the coming years.
PEG (NY)N/A
PEG (5Y)3.42
EPS Next 2Y0.55%
EPS Next 3Y17.12%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • AAON has a yearly dividend return of 0.40%, which is pretty low.
  • AAON's Dividend Yield is comparable with the industry average which is at 0.65.
  • Compared to an average S&P500 Dividend Yield of 1.80, AAON's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.4%

5.2 History

  • On average, the dividend of AAON grows each year by 8.53%, which is quite nice.
  • AAON has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)8.53%
Div Incr Years0
Div Non Decr Years0
AAON Yearly Dividends per shareAAON Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 0 0 0 0

5.3 Sustainability

  • AAON pays out 30.27% of its income as dividend. This is a sustainable payout ratio.
  • AAON's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP30.27%
EPS Next 2Y0.55%
EPS Next 3Y17.12%
AAON Yearly Income VS Free CF VS DividendAAON Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M
AAON Dividend Payout.AAON Dividend Payout, showing the Payout Ratio.AAON Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

AAON INC

NASDAQ:AAON (2/27/2026, 8:00:00 PM)

After market: 101.2 0 (0%)

101.2

+2.31 (+2.34%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryBuilding Products
Earnings (Last)11-06
Earnings (Next)03-02
Inst Owners92.27%
Inst Owner Change3.72%
Ins Owners0.73%
Ins Owner Change-2.24%
Market Cap8.26B
Revenue(TTM)1.32B
Net Income(TTM)100.56M
Analysts86.15
Price Target117.5 (16.11%)
Short Float %12.17%
Short Ratio8.08
Dividend
Industry RankSector Rank
Dividend Yield 0.4%
Yearly Dividend0.32
Dividend Growth(5Y)8.53%
DP30.27%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-11%
Min EPS beat(2)-34.77%
Max EPS beat(2)12.77%
EPS beat(4)2
Avg EPS beat(4)-3.23%
Min EPS beat(4)-44.8%
Max EPS beat(4)53.89%
EPS beat(8)5
Avg EPS beat(8)1.71%
EPS beat(12)9
Avg EPS beat(12)8.4%
EPS beat(16)11
Avg EPS beat(16)4.61%
Revenue beat(2)1
Avg Revenue beat(2)2.93%
Min Revenue beat(2)-6%
Max Revenue beat(2)11.86%
Revenue beat(4)2
Avg Revenue beat(4)1.02%
Min Revenue beat(4)-8.93%
Max Revenue beat(4)11.86%
Revenue beat(8)5
Avg Revenue beat(8)0.79%
Revenue beat(12)9
Avg Revenue beat(12)1.66%
Revenue beat(16)12
Avg Revenue beat(16)2.33%
PT rev (1m)0%
PT rev (3m)2.67%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.51%
EPS NY rev (1m)0%
EPS NY rev (3m)1.34%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.13%
Valuation
Industry RankSector Rank
PE 80.32
Fwd PE 49.8
P/S 6.28
P/FCF N/A
P/OCF N/A
P/B 9.57
P/tB 11.81
EV/EBITDA 40.59
EPS(TTM)1.26
EY1.25%
EPS(NY)2.03
Fwd EY2.01%
FCF(TTM)-3.13
FCFYN/A
OCF(TTM)-0.22
OCFYN/A
SpS16.12
BVpS10.57
TBVpS8.57
PEG (NY)N/A
PEG (5Y)3.42
Graham Number17.31
Profitability
Industry RankSector Rank
ROA 6.56%
ROE 11.65%
ROCE 10.22%
ROIC 8.17%
ROICexc 8.18%
ROICexgc 9.37%
OM 9.98%
PM (TTM) 7.64%
GM 26.88%
FCFM N/A
ROA(3y)15.18%
ROA(5y)14.44%
ROE(3y)20.84%
ROE(5y)19.53%
ROIC(3y)18.3%
ROIC(5y)16.85%
ROICexc(3y)18.35%
ROICexc(5y)17.88%
ROICexgc(3y)22.59%
ROICexgc(5y)21.24%
ROCE(3y)22.91%
ROCE(5y)21.09%
ROICexgc growth 3Y13.27%
ROICexgc growth 5Y1.06%
ROICexc growth 3Y19.13%
ROICexc growth 5Y-2.16%
OM growth 3Y10.34%
OM growth 5Y3.96%
PM growth 3Y8.47%
PM growth 5Y4.17%
GM growth 3Y8.66%
GM growth 5Y5.39%
F-Score2
Asset Turnover0.86
Health
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF N/A
Debt/EBITDA 1.81
Cap/Depr 309.66%
Cap/Sales 18.09%
Interest Coverage 10.77
Cash Conversion N/A
Profit Quality N/A
Current Ratio 3.04
Quick Ratio 2.03
Altman-Z 9.49
F-Score2
WACC8.93%
ROIC/WACC0.91
Cap/Depr(3y)243.08%
Cap/Depr(5y)235.38%
Cap/Sales(3y)11.07%
Cap/Sales(5y)11.35%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-44.49%
EPS 3Y37.89%
EPS 5Y23.49%
EPS Q2Q%-41.27%
EPS Next Y-29.72%
EPS Next 2Y0.55%
EPS Next 3Y17.12%
EPS Next 5Y18.22%
Revenue 1Y (TTM)8.77%
Revenue growth 3Y30.96%
Revenue growth 5Y20.67%
Sales Q2Q%17.41%
Revenue Next Year13.62%
Revenue Next 2Y12.98%
Revenue Next 3Y13.67%
Revenue Next 5Y15.82%
EBIT growth 1Y-46.16%
EBIT growth 3Y44.5%
EBIT growth 5Y25.45%
EBIT Next Year1.47%
EBIT Next 3Y23.91%
EBIT Next 5YN/A
FCF growth 1Y-961.01%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-114.23%
OCF growth 3Y46.53%
OCF growth 5Y14.48%

AAON INC / AAON FAQ

Can you provide the ChartMill fundamental rating for AAON INC?

ChartMill assigns a fundamental rating of 6 / 10 to AAON.


What is the valuation status of AAON INC (AAON) stock?

ChartMill assigns a valuation rating of 1 / 10 to AAON INC (AAON). This can be considered as Overvalued.


Can you provide the profitability details for AAON INC?

AAON INC (AAON) has a profitability rating of 7 / 10.


Can you provide the financial health for AAON stock?

The financial health rating of AAON INC (AAON) is 6 / 10.


How sustainable is the dividend of AAON INC (AAON) stock?

The dividend rating of AAON INC (AAON) is 5 / 10 and the dividend payout ratio is 30.27%.