AAON, Inc.

AAON, Inc.

AAONยทNASDAQ

$148.25

+3.3%
IndustrialsConstruction

AAON, Inc., together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BasX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls. The company markets and sells its products to retail, manufacturing, educational, lodging, supermarket, data centers, medical and pharmaceutical, and other commercial industries. It sells its products through a network of independent manufacturer representative organizations and internal sales force. The company was incorporated in 1987 and is based in Tulsa, Oklahoma.

At a Glance

Live Snapshot
Market Cap$12.14B
EPS1.3200
P/E Ratio112.31
Earnings Date08/10/2026
AAON, Inc.

AAON, Inc. Fair Value Envelope

AAON ยท NASDAQ

Our analysis suggests that AAON has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $148.25, this represents a potential HIDDEN relative to our calculated worth for AAON, Inc..

Intrinsic Value
Current Price: $148.25

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value-$33.6M
+ Cash & Equivalents$13.0K
Firm Value-$33.6M
- Debt$433.4M
Equity Value-$467.0M
/ Shares Outstanding81,500,245B
DCF Value-$6
OVERVALUED BY 104%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
-$430.5K
-$215.3K
-$107.6K
-$53.8K
-$26.9K
-$13.5K
-$6.7K
-$3.4K
-$1.7K
-$841
Maintenance CapEx
-$19.1M
-$9.5M
-$4.8M
-$2.4M
-$1.2M
-$595.5K
-$297.8K
-$148.9K
-$74.4K
-$37.2K
Owner Earnings
-$19.5M
-$9.7M
-$4.9M
-$2.4M
-$1.2M
-$609.0K
-$304.5K
-$152.2K
-$76.1K
-$38.1K
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
-$18.0M
-$8.4M
-$3.9M
-$1.8M
-$828.9K
-$383.7K
-$177.7K
-$82.3K
-$38.1K
-$17.6K
Terminal Value represents 0.0% of Enterprise Value
Negative Owner Earnings
This company generates negative free cash flow. Consider adjusting maintenance CapEx percentage or check the financial data.