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Aaon AAON Gross margin

Gross margin at other companies

Johnson Controls International logo
Johnson Controls InternationalJCI
36.6%+0.5pp
Lennox International logo
Lennox InternationalLII
33.2%+0.1pp
Carrier Global logo
Carrier GlobalCARR
26.6%-0.6pp
SPX Technologies logo
SPX TechnologiesSPXC
40.5%-0.1pp
Vertiv Holdings Co logo
Vertiv Holdings CoVRT
37.2%+0.8pp
WSO
WatscoWSO
28%+1.1pp

Other financials

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

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

Valuation

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Market cap$11.2B+5.8%
Enterprise value$11.2B+5.6%
P/E94.8×+28.2×
P/S6.9×-1.5×

Profitability

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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×

Where this comes from

Calculated from Aaon’s reported figures.

Based on trailing twelve months.

The official record: Aaon’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Aaon's gross margin?
Aaon (AAON) reported gross margin of 26.2% in Q1 2026.
How has Aaon's gross margin changed year-over-year?
Aaon's gross margin decreased by 15.4% year-over-year, from 31% to 26.2%.
What is the long-term trend for Aaon's gross margin?
Over 5 years (2020 to 2025), Aaon's gross margin has grown at a -2.5% compound annual growth rate (CAGR), from 30.3% to 26.7%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.