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AAON, Inc.

$75.54 -$3.65 (-4.61%)
NASDAQ · 14 Sep 2026 20:00 UTC
Previous Close
$79.8
Day Range
$74.32$76.68
Year Range
$73.19$150.46
Market Cap
6.19B
AVG Volume
1.2M
Trailing/Forward PE
38.94/21.16
PEG ratio
0.76
Dividend Yield
0.53%
Next Earnings Date
2026-11-05
Primary Exchange
NASDAQUS
Revenue (USD)
0500M1B1.5B2016201720182019202020212022202320242025
AAON Revenue (USD) by year
PeriodRevenue (USD)
20251.44B
20241.2B
20231.17B
2022888.79M
2021534.52M
2020514.55M
2019469.33M
2018433.95M
2017405.23M
2016383.98M
Net Income (USD)
050M100M150M200M2016201720182019202020212022202320242025
AAON Net Income (USD) by year
PeriodNet Income (USD)
2025107.59M
2024168.56M
2023177.62M
2022100.38M
202158.76M
202079.01M
201952.46M
201842.57M
201754.5M
201653.38M
Operating Income (USD)
0100M200M300M2016201720182019202020212022202320242025
AAON Operating Income (USD) by year
PeriodOperating Income (USD)
2025146.28M
2024209.12M
2023227.49M
2022126.76M
202169.25M
2020101.84M
201965.22M
201855.35M
201774.1M
201679.59M
EBITDA (USD)
0100M200M300M2016201720182019202020212022202320242025
AAON EBITDA (USD) by year
PeriodEBITDA (USD)
2025225.84M
2024272.42M
2023274.79M
2022162.18M
202199.7M
2020121.29M
201988.36M
201873.59M
201789.64M
201692.95M
Cash Flows (USD)
-200M-100M0100M2016201720182019202020212022202320242025
AAON Cash Flows (USD) by year
PeriodCash Flows (USD)
2025-190.03M
2024833K
202349.4M
2022-14.71M
20215.82M
202061.01M
201960.76M
201817.59M
201716.28M
201637.7M
EPS (USD)
01232016201720182019202020212022202320242025
AAON EPS (USD) by year
PeriodEPS (USD)
20251.29
20242.01
20232.14
20221.23
20210.72
20200.99
20190.66
20180.54
20170.78
20160.76
Expenses (USD)
0100M200M300M400MR&DSG&ACapex2016201720182019202020212022202320242025
AAON Expenses (USD) by year
PeriodExpenses (USD)
2025398.92M
2024358.75M
2023310.97M
2022178.8M
2021121.02M
2020126.14M
201989.11M
201883.9M
201790.17M
201664.3M
Cash & Debt (USD)
0200M400M600MCashLong Term DebtShort Term Debt2016201720182019202020212022202320242025
AAON Cash & Debt (USD) by year
PeriodCash & Debt (USD)
202513K
202414K
2023287K
20225.45M
20212.86M
202079.03M
201926.8M
20181.99M
201730.41M
201643.75M
Debt ratios
-0.4-0.200.20.40.620182019202020212022202320242025
AAON Debt ratios by year
PeriodDebt ratios
20250.45
20240.21
20230.08
20220.15
20210.1
2020-0.21
2019-0.08
2018-0.01
Margins
0%10%20%30%40%2016201720182019202020212022202320242025
AAON Margins by year
PeriodMargins
202526.75%
202433.07%
202334.15%
202226.73%
202125.79%
202030.29%
201925.38%
201823.86%
201730.45%
201630.75%
Return on Capital
0%10%20%30%2016201720182019202020212022202320242025
AAON Return on Capital by year
PeriodReturn on Capital
202512.02%
202420.44%
202324.16%
202217.9%
202112.6%
202022.52%
201918.08%
201817.07%
201722.97%
201625.92%
Shares Outstanding
025M50M75M100M2016201720182019202020212022202320242025
AAON Shares Outstanding by year
PeriodShares Outstanding
202581.53M
202481.35M
202383.45M
202279.98M
202178.7M
202078.36M
201978.14M
201878.63M
201752.46M
201679.34M
Dividends (USD)
00.10.20.30.42017201820192020202120222023202420252026
AAON Dividends (USD) by year
PeriodDividends (USD)
20260.3
20250.4
20240.32
20230.32
20220.29
20210.25
20200.25
20190.21
20180.21
20170.17
Employee Count
02K4K6K2016201720182019202020212022202320242025
AAON Employee Count by year
PeriodEmployee Count
20255.9K
20244.81K
20233.86K
20223.67K
20212.88K
20202.27K
20192.29K
20182.22K
20171.99K
20161.62K
Book Value Per Share (USD)
0510152016201720182019202020212022202320242025
AAON Book Value Per Share (USD) by year
PeriodBook Value Per Share (USD)
202510.98
202410.14
20238.81
20227.01
20215.92
20204.48
20193.71
20183.17
20174.52
20162.6
Total Assets (USD)
0500M1B1.5B2B2016201720182019202020212022202320242025
AAON Total Assets (USD) by year
PeriodTotal Assets (USD)
20251.69B
20241.18B
2023941.44M
2022813.9M
2021650.18M
2020449.01M
2019371.42M
2018307.99M
2017296.78M
2016256.53M
PE Ratio
20406080100med 58.1Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
AAON PE Ratio by year
PeriodPE Ratio
Sep 2638.98
Sep 2641.18
Sep 2640.97
Aug 2639.15
Aug 2640.99
Aug 2645.3
Aug 2665.64
Jul 2661.64
Jul 2671.07
Jul 2677.12
Jul 2679.02
Jul 2674.49
Jun 2687.75
Jun 2694.63
Jun 2688.04
Jun 2691.8
May 2697.04
May 2693.17
May 2693.78
May 2696.67
May 2670.92
Apr 2675.46
Apr 2671.21
Apr 2670.6
Apr 2661.65
Mar 2661.74
Mar 2660.63
Mar 2663.58
Mar 2666.93
Feb 2683.74
Feb 2684.65
Feb 2683.6
Feb 2679.79
Jan 2675.35
Jan 2678.16
Jan 2677.85
Jan 2668.94
Jan 2665.53
Dec 2562.7
Dec 2562.34
Dec 2564.48
Dec 2572.43
Nov 2577.35
Nov 2575.73
Nov 2577.81
Nov 2587.32
Oct 2565.63
Oct 2570.87
Oct 2564.86
Oct 2566.37
Oct 2565.58
Sep 2560.71
Sep 2561.07
Sep 2554.82
Sep 2554.13
Aug 2555.33
Aug 2557.35
Aug 2553.06
Aug 2541.3
Aug 2541.88
Jul 2542.76
Jul 2540.36
Jul 2539.41
Jul 2538.6
Jun 2537.75
Jun 2536.98
Jun 2537.44
Jun 2549.59
May 2549.39
May 2550.83
May 2554.82
May 2551.41
May 2550.97
Apr 2542.44
Apr 2539.79
Apr 2540.61
Apr 2535.81
Mar 2537.68
Mar 2538.44
Mar 2539.64
Mar 2539.61
Feb 2537.06
Feb 2544.02
Feb 2548.06
Feb 2547.9
Jan 2549.43
Jan 2556.37
Jan 2555.29
Jan 2551.85
Jan 2550.97
Dec 2451.57
Dec 2452.72
Dec 2455.78
Dec 2458.29
Nov 2457.91
Nov 2458.37
Nov 2456.69
Nov 2458.72
Nov 2449.8
Oct 2448.8
Free Cash Flow Yield
-4%-2%0%2%med -1.77%Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
AAON Free Cash Flow Yield by year
PeriodFree Cash Flow Yield
Sep 26-1.91%
Sep 26-1.81%
Sep 26-1.82%
Aug 26-1.9%
Aug 26-1.82%
Aug 26-1.65%
Aug 26-1.87%
Jul 26-1.99%
Jul 26-1.73%
Jul 26-1.59%
Jul 26-1.56%
Jul 26-1.65%
Jun 26-1.4%
Jun 26-1.3%
Jun 26-1.4%
Jun 26-1.34%
May 26-1.27%
May 26-1.32%
May 26-1.31%
May 26-1.27%
May 26-2.49%
Apr 26-2.34%
Apr 26-2.48%
Apr 26-2.5%
Apr 26-2.86%
Mar 26-2.86%
Mar 26-2.91%
Mar 26-2.78%
Mar 26-2.64%
Feb 26-2.76%
Feb 26-2.73%
Feb 26-2.77%
Feb 26-2.9%
Jan 26-3.07%
Jan 26-2.96%
Jan 26-2.97%
Jan 26-3.36%
Jan 26-3.53%
Dec 25-3.69%
Dec 25-3.71%
Dec 25-3.59%
Dec 25-3.19%
Nov 25-2.99%
Nov 25-3.05%
Nov 25-2.97%
Nov 25-2.65%
Oct 25-2.11%
Oct 25-1.95%
Oct 25-2.13%
Oct 25-2.08%
Oct 25-2.11%
Sep 25-2.28%
Sep 25-2.26%
Sep 25-2.52%
Sep 25-2.55%
Aug 25-2.5%
Aug 25-2.41%
Aug 25-2.61%
Aug 25-1.71%
Aug 25-1.69%
Jul 25-1.65%
Jul 25-1.75%
Jul 25-1.8%
Jul 25-1.83%
Jun 25-1.87%
Jun 25-1.91%
Jun 25-1.89%
Jun 25-1.43%
May 25-1.43%
May 25-1.39%
May 25-1.29%
May 25-1.38%
May 25-1.39%
Apr 250.01%
Apr 250.01%
Apr 250.01%
Apr 250.01%
Mar 250.01%
Mar 250.01%
Mar 250.01%
Mar 250.01%
Feb 250.01%
Feb 251.32%
Feb 251.21%
Feb 251.21%
Jan 251.18%
Jan 251.03%
Jan 251.05%
Jan 251.12%
Jan 251.14%
Dec 241.13%
Dec 241.1%
Dec 241.04%
Dec 241%
Nov 241%
Nov 241%
Nov 241.03%
Nov 240.99%
Nov 241.14%
Oct 241.17%
Price to Sales
246810med 5.77Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
AAON Price to Sales by year
PeriodPrice to Sales
Sep 263.21
Sep 263.39
Sep 263.38
Aug 263.23
Aug 263.38
Aug 263.73
Aug 264.79
Jul 264.5
Jul 265.19
Jul 265.63
Jul 265.77
Jul 265.44
Jun 266.41
Jun 266.91
Jun 266.43
Jun 266.71
May 267.09
May 266.81
May 266.85
May 267.06
May 265.29
Apr 265.63
Apr 265.31
Apr 265.27
Apr 264.6
Mar 264.61
Mar 264.52
Mar 264.74
Mar 264.99
Feb 266.38
Feb 266.45
Feb 266.37
Feb 266.08
Jan 265.74
Jan 265.96
Jan 265.93
Jan 265.25
Jan 264.99
Dec 254.78
Dec 254.75
Dec 254.91
Dec 255.52
Nov 255.89
Nov 255.77
Nov 255.93
Nov 256.65
Oct 256.37
Oct 256.87
Oct 256.29
Oct 256.44
Oct 256.36
Sep 255.89
Sep 255.92
Sep 255.32
Sep 255.25
Aug 255.37
Aug 255.56
Aug 255.15
Aug 255.2
Aug 255.28
Jul 255.39
Jul 255.09
Jul 254.97
Jul 254.86
Jun 254.76
Jun 254.66
Jun 254.72
Jun 256.25
May 256.22
May 256.4
May 256.91
May 256.48
May 256.42
Apr 255.96
Apr 255.59
Apr 255.7
Apr 255.03
Mar 255.29
Mar 255.4
Mar 255.57
Mar 255.56
Feb 255.2
Feb 256.95
Feb 257.59
Feb 257.56
Jan 257.8
Jan 258.9
Jan 258.73
Jan 258.18
Jan 258.05
Dec 248.14
Dec 248.32
Dec 248.8
Dec 249.2
Nov 249.14
Nov 249.21
Nov 248.95
Nov 249.27
Nov 247.77
Oct 247.62
EV/EBITDA
20304050med 32.85Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
AAON EV/EBITDA by year
PeriodEV/EBITDA
Sep 2620.86
Sep 2621.95
Sep 2621.85
Aug 2620.94
Aug 2621.86
Aug 2624
Aug 2632.87
Jul 2630.98
Jul 2635.44
Jul 2638.3
Jul 2639.2
Jul 2637.06
Jun 2643.34
Jun 2646.59
Jun 2643.47
Jun 2645.25
May 2647.73
May 2645.9
May 2646.19
May 2647.56
May 2635.67
Apr 2637.83
Apr 2635.81
Apr 2635.52
Apr 2631.25
Mar 2631.3
Mar 2630.76
Mar 2632.17
Mar 2633.77
Feb 2642.08
Feb 2642.52
Feb 2642.02
Feb 2640.19
Jan 2638.05
Jan 2639.4
Jan 2639.25
Jan 2634.97
Jan 2633.32
Dec 2531.96
Dec 2531.79
Dec 2532.82
Dec 2536.64
Nov 2539.01
Nov 2538.23
Nov 2539.23
Nov 2543.81
Oct 2536.66
Oct 2539.46
Oct 2536.25
Oct 2537.05
Oct 2536.63
Sep 2534.02
Sep 2534.22
Sep 2530.86
Sep 2530.49
Aug 2531.14
Aug 2532.22
Aug 2529.92
Aug 2525.65
Aug 2525.99
Jul 2526.52
Jul 2525.09
Jul 2524.52
Jul 2524.04
Jun 2523.53
Jun 2523.07
Jun 2523.34
Jun 2530.59
May 2530.48
May 2531.34
May 2533.71
May 2531.68
May 2531.42
Apr 2526.89
Apr 2525.25
Apr 2525.76
Apr 2522.78
Mar 2523.94
Mar 2524.41
Mar 2525.15
Mar 2525.13
Feb 2523.56
Feb 2528.01
Feb 2530.57
Feb 2530.46
Jan 2531.43
Jan 2535.81
Jan 2535.13
Jan 2532.96
Jan 2532.4
Dec 2432.78
Dec 2433.51
Dec 2435.43
Dec 2437.02
Nov 2436.78
Nov 2437.07
Nov 2436.01
Nov 2437.29
Nov 2431.63
Oct 2431
Price/Operating Cashflow
05000100001500020000med 71.12Aug 24Dec 24Mar 25Jul 25Oct 25Jun 26Sep 26
AAON Price/Operating Cashflow by year
PeriodPrice/Operating Cashflow
Sep 2671.74
Sep 2675.79
Sep 2675.41
Aug 2672.05
Aug 2675.44
Aug 2683.38
Aug 26177.24
Jul 26166.46
Jul 26191.9
Jul 26208.25
Jul 26213.37
Jul 26201.15
Jun 26236.96
Jun 26255.54
Jun 26237.73
Jun 26247.88
May 26262.04
May 26251.58
May 26253.24
May 26261.03
May 2614288.97
Apr 2615205.03
Apr 2614348.52
Apr 2614224.85
Apr 2612421.74
Mar 2612440.06
Mar 2612215.63
Mar 2612809.54
Mar 2613485.9
Oct 25238.63
Oct 25257.66
Oct 25235.84
Oct 25241.32
Oct 25238.46
Sep 25220.73
Sep 25222.06
Sep 25199.31
Sep 25196.81
Aug 25201.18
Aug 25208.53
Aug 25192.93
Aug 2572.13
Aug 2573.14
Jul 2574.68
Jul 2570.49
Jul 2568.83
Jul 2567.41
Jun 2565.92
Jun 2564.58
Jun 2565.39
Jun 2586.61
May 2586.26
May 2588.78
May 2595.74
May 2589.79
May 2589.02
Apr 2537.15
Apr 2534.84
Apr 2535.56
Apr 2531.35
Mar 2532.99
Mar 2533.65
Mar 2534.7
Mar 2534.67
Feb 2532.45
Feb 2534.52
Feb 2537.69
Feb 2537.56
Jan 2538.77
Jan 2544.21
Jan 2543.36
Jan 2540.66
Jan 2539.98
Dec 2440.45
Dec 2441.35
Dec 2443.74
Dec 2445.72
Nov 2445.42
Nov 2445.77
Nov 2444.46
Nov 2446.05
Nov 2440.91
Oct 2440.09
Oct 2439.42
Oct 2440.54
Oct 2438.83
Sep 2438.61
Sep 2437.51
Sep 2433.93
Sep 2431.51
Aug 2434.43
Aug 2434.09
Aug 2431.98
Aug 2431.25
Aug 2430.93
Jul 2429.02
Jul 2428.81
Jul 2429.83
Jul 2428.84
Jun 2428.91
Price to Book
6810121416med 8.98Dec 24Apr 25Jul 25Nov 25Feb 26Jun 26Sep 26
AAON Price to Book by year
PeriodPrice to Book
Sep 266.14
Sep 266.49
Sep 266.46
Aug 266.17
Aug 266.46
Aug 267.14
Aug 268.3
Jul 267.79
Jul 268.99
Jul 269.75
Jul 269.99
Jul 269.42
Jun 2611.1
Jun 2611.96
Jun 2611.13
Jun 2611.61
May 2612.27
May 2611.78
May 2611.86
May 2612.22
May 268.53
Apr 269.07
Apr 268.56
Apr 268.49
Apr 267.41
Mar 267.42
Mar 267.29
Mar 267.64
Mar 268.05
Feb 269.73
Feb 269.83
Feb 269.71
Feb 269.27
Jan 268.75
Jan 269.08
Jan 269.04
Jan 268.01
Jan 267.61
Dec 257.28
Dec 257.24
Dec 257.49
Dec 258.41
Nov 258.98
Nov 258.8
Nov 259.04
Nov 2510.14
Oct 259.62
Oct 2510.39
Oct 259.51
Oct 259.73
Oct 259.62
Sep 258.9
Sep 258.95
Sep 258.04
Sep 257.94
Aug 258.11
Aug 258.41
Aug 257.78
Aug 258.04
Aug 258.15
Jul 258.33
Jul 257.86
Jul 257.67
Jul 257.51
Jun 257.35
Jun 257.2
Jun 257.29
Jun 259.65
May 259.62
May 259.9
May 2510.67
May 2510.01
May 259.92
Apr 258.68
Apr 258.13
Apr 258.3
Apr 257.32
Mar 257.7
Mar 257.86
Mar 258.1
Mar 258.1
Feb 257.58
Feb 2510.55
Feb 2511.52
Feb 2511.48
Jan 2511.84
Jan 2513.5
Jan 2513.25
Jan 2512.42
Jan 2512.21
Dec 2412.36
Dec 2412.63
Dec 2413.36
Dec 2413.97
Nov 2413.87
Nov 2413.98
Nov 2413.58
Nov 2414.07
Nov 2412.53
Oct 2412.28
AAON, Inc.
AAON
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News: AAON

AAON, Inc.'s Growth Makes 23x 2027 Earnings Look Reasonable

seekingalpha.com · 14 Sep 2026

AAON, Inc.'s Growth Makes 23x 2027 Earnings Look Reasonable

AAON shares have dropped ~47% from highs, but underlying demand and backlog remain robust, particularly in its BASX data-center segment. Gross margin pressures stem from rapid capacity expansion and startup costs, with management expecting visible recovery by 2027 as Memphis utilization improves. Despite negative free cash flow and lowered 2026 margin guidance, AAON raises its 2026 sales-growth outlook to 55%-60% and maintains a $2B backlog.

American Capital Management Inc. Takes $47.59 Million Position in AAON, Inc. $AAON

defenseworld.net · 27 Aug 2026

American Capital Management Inc. Takes $47.59 Million Position in AAON, Inc. $AAON

American Capital Management Inc. bought a new position in shares of AAON, Inc. (NASDAQ: AAON) during the undefined quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 375,178 shares of the construction company's stock, valued at approximately $47,595,000. AAON makes up approximately 2.1% of American Capital

AAON Introduces The Aaon Group as Its New Enterprise Identity

prnewswire.com · 21 Aug 2026

AAON Introduces The Aaon Group as Its New Enterprise Identity

The new identity brings greater clarity to AAON's evolution into a multi-brand, multi-market enterprise. TULSA, Okla.

Wasatch U.S. Select Fund Q2 2026 Portfolio Update

seekingalpha.com · 18 Aug 2026

Wasatch U.S. Select Fund Q2 2026 Portfolio Update

The Wasatch U.S. Select Fund - Investor Class returned 12.46%, trailing the Russell 2500 Growth Index, which gained 24.02% during the quarter. While the market environment favoring low-quality companies was a large reason for our relative underperformance, we also held stocks that lost ground in the period, and that too weighed on relative results. The largest of the detractors was Ensign Group, an operator of skilled-nursing and senior-living facilities.

AAON Announces Quarterly Cash Dividend

prnewswire.com · 13 Aug 2026

AAON Announces Quarterly Cash Dividend

TULSA, Okla., Aug. 13, 2026 /PRNewswire/ -- AAON, Inc. (NASDAQ: AAON), a leader in high-performing, energy-efficient HVAC solutions that bring long-term value to customers and owners, today announced that its Board of Directors has declared the Company's next regular quarterly cash dividend of $0.10 per share (or $0.40 annually), payable on September 25, 2026, to stockholders of record as of the close of business on September 4, 2026.

Aaon Analysts Slash Their Forecasts Following Q2 Earnings

benzinga.com · 11 Aug 2026

Aaon Analysts Slash Their Forecasts Following Q2 Earnings

Aaon Inc (NASDAQ:AAON) on Monday reported better-than-expected second-quarter financial results and raised its FY26 sales guidance above estimates.

AAON, Inc. (AAON) Q2 2026 Earnings Call Transcript

seekingalpha.com · 11 Aug 2026

AAON, Inc. (AAON) Q2 2026 Earnings Call Transcript

AAON, Inc. (AAON) Q2 2026 Earnings Call Transcript

AAON Q2 Earnings Call Highlights

marketbeat.com · 10 Aug 2026

AAON Q2 Earnings Call Highlights

AAON NASDAQ: AAON reported record second-quarter sales as higher production throughput across its facilities accelerated backlog conversion and supported strong growth in both its AAON-branded commercial HVAC products and BASX data center cooling business.

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