AAON INC (AAON) Stock Fundamental Analysis

NASDAQ:AAON • US0003602069

104.73 USD
+3.53 (+3.49%)
At close: Mar 2, 2026
102.49 USD
-2.24 (-2.14%)
Pre-Market: 3/3/2026, 7:50:49 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to AAON. AAON was compared to 42 industry peers in the Building Products industry. AAON has an average financial health and profitability rating. AAON is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • AAON had positive earnings in the past year.
  • In the past year AAON has reported a negative cash flow from operations.
  • Of the past 5 years AAON 4 years were profitable.
  • AAON had a positive operating cash flow in 4 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.
  • Looking at the Return On Invested Capital, with a value of 8.17%, AAON is in line with its industry, outperforming 52.38% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for AAON is significantly above the industry average of 11.86%.
  • 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

  • With a decent Profit Margin value of 7.64%, AAON is doing good in the industry, outperforming 61.90% of the companies in the same industry.
  • AAON's Profit Margin has improved in the last couple of years.
  • AAON's Operating Margin of 9.98% is in line compared to the rest of the industry. AAON outperforms 45.24% of its industry peers.
  • In the last couple of years the Operating Margin of AAON has grown nicely.
  • With a Gross Margin value of 26.88%, AAON is not doing good in the industry: 61.90% of the companies in the same industry are doing better.
  • 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

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so AAON is creating value.
  • There is no outstanding debt for AAON. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
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 9.92. This indicates that AAON is financially healthy and has little risk of bankruptcy at the moment.
  • AAON has a better Altman-Z score (9.92) than 100.00% of its industry peers.
  • A Debt/Equity ratio of 0.44 indicates that AAON is not too dependend on debt financing.
  • AAON's Debt to Equity ratio of 0.44 is fine compared to the rest of the industry. AAON outperforms 61.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF N/A
Altman-Z 9.92
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

  • AAON has a Current Ratio of 3.04. This indicates that AAON is financially healthy and has no problem in meeting its short term obligations.
  • With a decent Current ratio value of 3.04, AAON is doing good in the industry, outperforming 76.19% of the companies in the same industry.
  • A Quick Ratio of 2.03 indicates that AAON has no problem at all paying its short term obligations.
  • Looking at the Quick ratio, with a value of 2.03, AAON belongs to the top of the industry, outperforming 80.95% of the companies in the same industry.
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

4

3. Growth

3.1 Past

  • The earnings per share for AAON have decreased strongly by -32.84% in the last year.
  • Measured over the past 5 years, AAON shows a small growth in Earnings Per Share. The EPS has been growing by 7.66% on average per year.
EPS 1Y (TTM)-32.84%
EPS 3Y3.06%
EPS 5Y7.66%
EPS Q2Q%30%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%42.49%

3.2 Future

  • AAON is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 36.17% yearly.
  • The Revenue is expected to grow by 16.38% on average over the next years. This is quite good.
EPS Next Y50.52%
EPS Next 2Y53.84%
EPS Next 3Y42.38%
EPS Next 5Y36.17%
Revenue Next Year12.34%
Revenue Next 2Y13.7%
Revenue Next 3Y16.19%
Revenue Next 5Y16.38%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

2

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 77.58, 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.
  • Compared to an average S&P500 Price/Earnings ratio of 27.13, AAON is valued quite expensively.
  • AAON is valuated quite expensively with a Price/Forward Earnings ratio of 51.54.
  • Based on the Price/Forward Earnings ratio, AAON is valued a bit more expensive than the industry average as 73.81% of the companies are valued more cheaply.
  • The average S&P500 Price/Forward Earnings ratio is at 28.11. AAON is valued rather expensively when compared to this.
Industry RankSector Rank
PE 77.58
Fwd PE 51.54
AAON Price Earnings VS Forward Price EarningsAAON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, AAON is valued a bit more expensive than the industry average as 78.57% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 42.88
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's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • AAON has a very decent profitability rating, which may justify a higher PE ratio.
  • AAON's earnings are expected to grow with 42.38% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.54
PEG (5Y)10.13
EPS Next 2Y53.84%
EPS Next 3Y42.38%

More info and screens

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

5

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.40%, AAON is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.66, AAON has a dividend in line with its industry peers.
  • With a Dividend Yield of 0.40, AAON pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.4%

5.2 History

  • The dividend of AAON is nicely growing with an annual growth rate of 8.53%!
  • AAON has been paying a dividend for at least 10 years, so it has 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

  • 30.27% of the earnings are spent on dividend by AAON. This is a low number and sustainable payout ratio.
  • AAON's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP30.27%
EPS Next 2Y53.84%
EPS Next 3Y42.38%
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

More info and screens

Find the best dividend stocksShow peers with best dividend

AAON INC

NASDAQ:AAON (3/2/2026, 8:00:55 PM)

Premarket: 102.49 -2.24 (-2.14%)

104.73

+3.53 (+3.49%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryBuilding Products
Earnings (Last)03-02
Earnings (Next)04-28
Inst Owners92.27%
Inst Owner Change3.76%
Ins Owners0.73%
Ins Owner Change-2.18%
Market Cap8.55B
Revenue(TTM)N/A
Net Income(TTM)100.56M
Analysts86.15
Price Target117.5 (12.19%)
Short Float %13%
Short Ratio8.83
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 77.58
Fwd PE 51.54
P/S 6.5
P/FCF N/A
P/OCF N/A
P/B 9.91
P/tB 12.23
EV/EBITDA 42.88
EPS(TTM)1.35
EY1.29%
EPS(NY)2.03
Fwd EY1.94%
FCF(TTM)-3.13
FCFYN/A
OCF(TTM)-0.22
OCFYN/A
SpS16.12
BVpS10.57
TBVpS8.57
PEG (NY)1.54
PEG (5Y)10.13
Graham Number17.92
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 9.92
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)-32.84%
EPS 3Y3.06%
EPS 5Y7.66%
EPS Q2Q%30%
EPS Next Y50.52%
EPS Next 2Y53.84%
EPS Next 3Y42.38%
EPS Next 5Y36.17%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%42.49%
Revenue Next Year12.34%
Revenue Next 2Y13.7%
Revenue Next 3Y16.19%
Revenue Next 5Y16.38%
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%.