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Aaon AAON Operating margin

Operating margin at other companies

Lennox International logo
Lennox InternationalLII
19.7%+0.3pp
Trane Technologies logo
Trane TechnologiesTT
18.2%0.0pp
Carrier Global logo
Carrier GlobalCARR
8.2%-4.7pp
SPX Technologies logo
SPX TechnologiesSPXC
15.8%+0.3pp
Vertiv Holdings Co logo
Vertiv Holdings CoVRT
18.3%+0.9pp
WSO
WatscoWSO
9.9%-0.2pp

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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Gross margin26.2%-4.8pp
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 operating margin?
Aaon (AAON) reported operating margin of 10.4% in Q1 2026.
How has Aaon's operating margin changed year-over-year?
Aaon's operating margin decreased by 33.5% year-over-year, from 15.6% to 10.4%.
What is the long-term trend for Aaon's operating margin?
Over 5 years (2020 to 2025), Aaon's operating margin has grown at a -12.5% compound annual growth rate (CAGR), from 19.8% to 10.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.