Aaon, Inc. (AAON) Financial Statements
Industry: Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
In fiscal 2025, Aaon reported revenue of $1.44B, up 20.1% from $1.20B the year before. Net income was $107.6M (a 7.5% net margin), or $1.29 per diluted share. Gross margin was 26.7% and operating margin was 10.1%. Operating activities generated $534,000 of cash. At fiscal year end, Aaon held $1.69B in total assets against $791.5M in total liabilities, including $13,000 of cash and equivalents.
Open the full interactive Aaon financials → Quarterly statements, key ratios, valuation history and price charts.
Aaon Key Stats
| Share Price | $86.19 |
|---|---|
| Market Cap | $7.22B |
| P/E Ratio | 66.8 |
| Dividend Yield | 0.45% |
| Revenue YoY Growth | +20.1% |
| 52-Week Range | $73.25 – $147.96 |
| Shares Outstanding | 82.2 million (basic, 2026 Q2) |
Aaon Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $514.6M | $534.5M | $888.8M | $1.17B | $1.20B | $1.44B |
| Cost of Goods Sold | $358.7M | $396.7M | $651.2M | $769.5M | $803.5M | $1.06B |
| Gross Profit | $155.8M | $137.8M | $237.6M | $399.0M | $397.1M | $385.7M |
| Operating Income | $101.8M | $69.3M | $126.8M | $227.5M | $209.1M | $146.2M |
| Pre-Tax Income | $102.0M | $69.2M | $124.5M | $223.2M | $206.6M | $128.8M |
| Income Tax | $23.0M | $10.4M | $24.2M | $45.5M | $38.0M | $21.2M |
| Net Income | $79.0M | $58.8M | $100.4M | $177.6M | $168.6M | $107.6M |
| Diluted EPS | $0.99 | $0.73 | $1.24 | $2.13 | $2.02 | $1.29 |
Aaon Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $384.2M | $424.2M | $496.9M | $627.0M |
| Net Income | $30.8M | $32.0M | $39.8M | $56.7M |
| Diluted EPS | $0.37 | $0.39 | $0.48 | $0.68 |
Aaon Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $79.0M | $2.9M | $5.5M | $287,000 | $14,000 | $13,000 |
| Current Assets | $220.3M | $218.1M | $349.1M | $409.0M | $488.2M | $869.2M |
| Total Assets | $449.0M | $650.2M | $813.9M | $941.4M | $1.18B | $1.69B |
| Current Liabilities | $59.0M | $86.8M | $145.6M | $126.7M | $174.9M | $330.9M |
| Total Long-Term Debt | $6.4M | $40.0M | $71.0M | $38.3M | $138.9M | $398.3M |
| Total Liabilities | $98.1M | $184.0M | $253.2M | $206.2M | $350.7M | $791.5M |
| Shareholders' Equity | $350.9M | $466.2M | $560.7M | $735.2M | $824.6M | $895.0M |
Aaon Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $128.8M | $61.2M | $61.3M | $158.9M | $192.5M | $534,000 |
| Cash From Investing | -$61.3M | -$158.7M | -$76.2M | -$109.3M | -$213.1M | -$192.4M |
| Cash From Financing | -$29.6M | $18.7M | $17.4M | -$46.5M | $18.0M | $186.6M |
| Free Cash Flow | $61.0M | $5.8M | $7.3M | — | — | — |
| Dividends Paid | $19.8M | $19.9M | $22.9M | $26.4M | $26.1M | $32.6M |
Figures from Aaon's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Aaon financials page for every line item.
Aaon Company Profile
| Ticker | AAON |
|---|---|
| Exchange | Nasdaq |
| Industry | Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip |
| Headquarters | Tulsa, Oklahoma |
| Incorporated in | Nevada |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000824142 |
Frequently Asked Questions
What was Aaon's revenue in fiscal 2025?
Aaon (AAON) reported revenue of $1.44B for fiscal 2025.
What is Aaon's annual revenue history?
Aaon's annual revenue by fiscal year: 2020: $514.6M; 2021: $534.5M; 2022: $888.8M; 2023: $1.17B; 2024: $1.20B; 2025: $1.44B.
What was Aaon's net income in fiscal 2025?
Aaon reported net income of $107.6M for fiscal 2025.
What was Aaon's earnings per share (EPS) in fiscal 2025?
Aaon's diluted EPS was $1.29 for fiscal 2025 (adjusted for any later stock splits).
What was Aaon's revenue last quarter?
In its most recent reported quarter (2026 Q2), Aaon reported revenue of $627.0M.
How much debt does Aaon have?
Aaon reported $398.3M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Aaon are outstanding?
Aaon reported a weighted average of 82.2 million basic shares outstanding in 2026 Q2.
What is Aaon's market cap?
Based on its latest closing price, Aaon (AAON) has a market capitalization of about $7.22B.
When does Aaon's fiscal year end?
Aaon's fiscal year end, as registered with the SEC, is December 31.
Where is Aaon headquartered?
Aaon lists its business address in Tulsa, Oklahoma in its SEC filings.