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Aaon

AAON

AAON is a premier manufacturer of heating, ventilation, air conditioning, and liquid cooling solutions specifically engineered for commercial and industrial indoor environments.

Market cap
$8.41B+28.0%
Revenue$1.6B+28.3%
Net income$118.1M-25.6%
Free cash flow-$145.2M-24.4%
EPS (diluted)$1.42-25.3%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 10, 2026 (In 1 week)
Revenue estimate$508.8M
EPS estimate$0.52

Financials

Q1 2026

Income statement

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Revenue$496.9M+54.3%
Gross profit$125.0M+44.7%
Operating income$57.1M+62.5%
Net income$39.8M+35.9%
EPS (diluted)$0.48+37.1%

Balance sheet

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Cash & equivalents$13.0K-98.7%
Total debt$3.4M-81.8%
Total assets$1.8B+37.6%

Cash flow

See full
Operating cash flow$34.0M+469%
CapEx$45.1M-3.4%
Free cash flow-$11.1M+80.1%

Valuation & ratios

Valuation

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Market cap$8.82B+28.0%
Enterprise value$8.82B+24.4%
P/E74.7×+16.6×
P/S5.5×-0.2×

Profitability

See full
Gross margin26.2%-4.8pp
Operating margin10.4%-5.2pp
Net margin7.3%-5.3pp
FCF margin-9%-0.3pp

Returns & leverage

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Current ratio2.6×-0.1×

Segments

By segment

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AAON Oklahoma$244.0M+50.7%
BasX$135.4M+104%
AAON Coil Products$117.6M+25.1%

Competitors

Profile

AAON is a premier manufacturer of heating, ventilation, air conditioning, and liquid cooling solutions specifically engineered for commercial and industrial indoor environments. The company specializes in highly configurable equipment designed to meet precise customer specifications, focusing on energy efficiency, reliability, and long-term performance through advanced engineering and research.

Competitive position

A leading provider of premium, highly configurable HVAC equipment known for high energy efficiency and durability compared to standard commodity units.

GeographiesUnited States, Canada
Customer segmentsCommercial Construction, Industrial Infrastructure, Data Centers
Business modelDirect-to-Customer Manufacturing, Custom Engineering-to-Order
SuppliersSteel and Aluminum Suppliers, Electronic Component Manufacturers, Compressor Manufacturers, Refrigerant Suppliers
CustomersMechanical Contractors, Building Owners, Engineering Firms, Commercial Developers
Listed1990
Employees3.7K
CEOMatthew J. Tobolski
IndustryConstruction
Websiteaaon.com
FilingsSEC EDGAR

Questions, answered.

What is Aaon's market cap?
Aaon (AAON) has a market capitalization of $8.4B and trades on NASDAQ.
What is Aaon's revenue and profitability?
Aaon generated $1.6B in trailing twelve-month revenue with net income of $118.1M, representing a net margin of 7.3%. Gross margin stands at 26.2%, with free cash flow of -$145.2M. These figures are based on the Q1 2026 filing.
Who are Aaon's competitors?
Aaon's key competitors include Trane Technologies, Lennox International, Carrier Global Corporation, and others. These companies compete in similar markets and product categories.
What subsidiaries does Aaon have?
Aaon's subsidiaries include AAON Oklahoma, AAON Coil Products, BASX, Inc..
Where is Aaon headquartered?
Aaon is headquartered in United States of America and employs approximately 3,666 people. It has been publicly traded since 1990.