AAON - NASDAQ

AAON, Inc.

AAON·NASDAQ

$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.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$12.14B

EPS1.3200

P/E Ratio112.31

Earnings Date08/10/2026

1.69B

Assets

44%

3Y+107.0%

5Y+276.0%

10Y+557.0%

791.52M

Total Liabilities

126%

3Y+213.0%

5Y+707.0%

10Y+1463.0%

894.99M

Total Equity

3Y+60.0%

5Y+155.0%

10Y+335.0%

AAON, Inc. Funding & Solvency Profile

AAON · NASDAQ

Current Assets

Cash & Cash Equivalents13.00K

Net Receivables588.87M

Inventory261.15M

Other Current Assets19.15M

Total Current Assets869 M

Non-Current Assets

Property, Plant & Equipment649.25M

Goodwill & Intangible Assets165.80M

Long-Term Investments0.00

Other Non-Current Assets2.28M

Total Non-Current Assets652 M

Total Assets

1.69B

Financial Health Analysis

Current Ratio

2.63x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.88x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

538 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

52% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

AAON, Inc. Balance Sheet

AAON • NASDAQ

AAON, Inc. Balance Sheet	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	13K	14K	287K	5.5M	2.9M	79M	26.8M	2M	21.5M	24.2M	7.9M	22M	12.1M	3.2M	13K	2.4M	25.6M	269K	879K	288K
Short-Term Investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	9M	19.6M	22.5M	18.1M	24.2M	6M	0.0	11M	2.2M	0.0	0.0	0.0
Cash & Short-Term Investments	13K	14K	287K	5.5M	2.9M	79M	26.8M	2M	30.4M	43.7M	30.4M	40M	36.2M	9.1M	13K	11.9M	27.8M	269K	879K	288K
Net Receivables	588.9M	287M	183.3M	142.3M	82.3M	47.4M	68.2M	54.1M	52M	49.3M	54.7M	46.7M	40.2M	44.6M	44.2M	39.9M	33.4M	38.8M	38.8M	36.7M
Accounts Receivables	561.4M	147.4M	138.1M	127.2M	76.5M	47.4M	67.4M	54.1M	50.4M	43M	50M	44.1M	39.1M	43.9M	34.2M	39.9M	33.4M	38.8M	38.8M	36.7M
Other Receivables	27.4M	139.5M	45.2M	15.2M	5.7M	0.0	801K	0.0	1.6M	6.2M	4.7M	2.6M	1.1M	694K	10M	0.0	0.0	0.0	0.0	0.0
Inventory	261.2M	187.4M	213.5M	198.9M	130.3M	82.2M	73.6M	77.6M	70.8M	47.4M	38.5M	37.6M	32.1M	32.6M	34.9M	33.6M	28.8M	36.4M	31.8M	29.5M
Prepaids	0.0	0.0	3.1M	1.9M	2.1M	3.8M	1.4M	1M	518K	616K	533K	609K	304K	740K	723K	656K	1.1M	428K	442K	267K
Other Current Assets	19.1M	13.8M	8.7M	498K	628K	7.9M	17.6M	5.9M	0.0	0.0	0.0	0.0	4.8M	4.5M	4.5M	5.7M	5.1M	4.2M	4.3M	4M
Total Current Assets	869.2M	488.2M	409M	349.1M	218.1M	220.3M	187.5M	140.7M	153.7M	141M	124.2M	124.9M	113.6M	91.5M	84.4M	91.7M	96.2M	80.1M	76.3M	70.8M
NON-CURRENT ASSETS
Property, Plant, and Equipment (Net)	649.3M	525.8M	381.7M	311.9M	275M	224.9M	179.8M	163M	142.4M	114.9M	101.1M	91.9M	87.3M	90.7M	93.5M	67.4M	59.9M	60.6M	60.8M	59.2M
Goodwill	81.9M	81.9M	81.9M	81.9M	85.7M	3.2M	3.2M	3.2M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Intangible Assets	83.9M	78.3M	68.1M	64.6M	70.1M	38K	272K	506K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Goodwill & Intangible Assets	165.8M	160.2M	149.9M	146.5M	155.8M	3.3M	3.5M	3.7M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Long-Term Investments	0.0	0.0	0.0	0.0	1.2M	579K	597K	598K	0.0	0.0	6.9M	9.3M	13.6M	10.2M	1.1M	-1.5M	75K	75K	75K	75K
Tax Assets	0.0	836K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	4.1M	0.0	0.0	0.0	0.0
Other Non-Current Assets	2.3M	242K	816K	6.4M	0.0	0.0	0.0	0.0	678K	657K	661K	817K	919K	1.1M	0.0	-1.5M	0.0	0.0	0.0	0.0
Total Non-Current Assets	817.3M	687M	532.5M	464.8M	432.1M	228.8M	183.9M	167.3M	143.1M	115.5M	108.6M	102M	101.8M	101.9M	94.6M	68.5M	60M	60.6M	60.8M	59.3M
Total Assets	1.7B	1.2B	941.4M	813.9M	650.2M	449M	371.4M	308M	296.8M	256.5M	232.9M	227M	215.4M	193.5M	179M	160.3M	156.2M	140.7M	137.1M	130.1M
LIABILITIES
CURRENT LIABILITIES
Total Payables	110.4M	66.5M	27.5M	45.5M	29M	20.7M	11.8M	21.6M	11M	7.1M	6.2M	11.4M	7.8M	22.5M	22M	15M	11.6M	17.5M	15.1M	15.8M
Accounts Payable	110.4M	44.6M	27.5M	45.5M	29M	12.4M	11.8M	10.6M	11M	7.1M	6.2M	11.4M	7.8M	13M	14.1M	15M	8.5M	14.7M	15.1M	15.8M
Other Payables	0.0	21.8M	0.0	0.0	0.0	8.3M	0.0	11M	0.0	0.0	0.0	0.0	0.0	9.4M	7.9M	0.0	3.1M	2.8M	0.0	0.0
Accrued Expenses	0.0	52M	56.4M	43.5M	28.5M	26.2M	26.6M	18.5M	25.2M	21.1M	25.3M	20M	19.1M	8.7M	8.2M	21.2M	19.2M	19M	19.4M	16.1M
Short Term Debt	10.8M	16M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	4.6M	0.0	76K	3M	91K	59K
Capital Lease Obligations (Current)	0.0	2.5M	2M	1.3M	1.6M	202K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax Payables	0.0	0.0	1.2M	12.5M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Deferred Revenue	0.0	22.6M	16.4M	25.2M	13.5M	5.1M	4.6M	2.4M	2.8M	2.3M	2.9M	1.6M	2.1M	3.9M	1.8M	0.0	0.0	0.0	0.0	0.0
Other Current Liabilities	209.6M	15.3M	24.5M	30.1M	14.2M	6.8M	13M	5M	11.1M	8.5M	9.1M	9.7M	7.4M	4.5M	2.2M	0.0	0.0	0.0	2.9M	2.5M
Total Current Liabilities	330.9M	174.9M	126.7M	145.6M	86.8M	59M	56M	47.5M	50.1M	39M	43.4M	42.7M	36.3M	39.6M	38.7M	36.2M	30.9M	39.5M	37.5M	34.4M
NON-CURRENT LIABILITIES
Long Term Debt	407.1M	138.9M	38.3M	71M	40M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	121K	0.0	0.0
Deferred Revenue (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.7M	1.5M	1.5M	698K	1M	585K	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Deferred Tax Liabilities (Non-Current)	30.3M	0.0	12.1M	18.7M	32M	28.3M	15.3M	9.3M	8M	9.5M	8.7M	7.5M	14.4M	15.7M	17.8M	7.3M	7.3M	4.6M	4M	4.1M
Other Non-Current Liabilities	7.8M	23.3M	18.8M	12M	25.2M	10.8M	10M	146K	0.0	561K	1.1M	1.7M	0.0	0.0	0.0	0.0	0.0	0.0	239K	0.0
Total Non-Current Liabilities	460.7M	175.7M	79.5M	107.6M	97.2M	39.1M	25.3M	11.1M	9.5M	11.6M	10.5M	10.2M	15M	15.7M	17.8M	7.3M	7.3M	4.7M	4.2M	4.1M
Capital Lease Obligations	15.5M	16.1M	12.2M	7.2M	1.6M	202K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Liabilities	791.5M	350.7M	206.2M	253.2M	184M	98.1M	81.3M	58.6M	59.6M	50.6M	53.9M	52.9M	51.3M	55.4M	56.5M	43.5M	38.2M	44.2M	41.7M	38.5M
SHAREHOLDERS' EQUITY
Common Stock	327K	326K	326K	322K	210K	209K	208K	208K	210K	211K	212K	216K	147K	98K	98K	68K	71K	71K	73K	49K
Additional Paid-In Capital	64.4M	68.9M	122.1M	98.7M	81.7M	5.2M	3.6M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	644K	538K	0.0	210K
Retained Earnings	830.3M	755.3M	612.8M	461.7M	384.3M	345.5M	286.3M	249.2M	237M	205.7M	178.7M	173.8M	164M	138M	122.4M	116.7M	116.2M	95.1M	93.4M	90.7M
Accumulated Other Comprehensive Income/Loss	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.1M	778K	1.9M	667K
Total Stockholders' Equity	895M	824.6M	735.2M	560.7M	466.2M	350.9M	290.1M	249.4M	237.2M	205.9M	178.9M	174.1M	164.1M	138.1M	122.5M	116.7M	118M	96.5M	95.4M	91.6M
Total Equity	895M	824.6M	735.2M	560.7M	466.2M	350.9M	290.1M	249.4M	237.2M	205.9M	178.9M	174.1M	164.1M	138.1M	122.5M	116.7M	118M	96.5M	95.4M	91.6M
SUMMARY
Total Liabilities & Equity	1.7B	1.2B	941.4M	813.9M	650.2M	449M	371.4M	308M	296.8M	256.5M	232.9M	227M	215.4M	193.5M	179M	160.3M	156.2M	140.7M	137.1M	130.1M
Total Investments	0.0	0.0	0.0	0.0	1.2M	579K	597K	598K	9M	19.6M	29.4M	27.4M	37.8M	16.1M	1.1M	9.5M	2.3M	75K	75K	75K
Total Debt	433.4M	171M	50.6M	78.3M	41.6M	202K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	4.6M	0.0	76K	3.1M	91K	59K
Net Debt	433.4M	171M	50.3M	72.8M	38.7M	-78.8M	-26.8M	-2M	-21.5M	-24.2M	-7.9M	-22M	-12.1M	-3.2M	4.6M	-2.4M	-25.6M	2.8M	-788K	-229K
Shares Outstanding	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245	81,500,245

SEC Filings

AAON - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 18, 2026	May 12, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 07, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 07, 2026	May 07, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 02, 2026	April 02, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	April 01, 2026	April 01, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 05, 2026	March 05, 2026	2026	View Filing
10-K 10-K 2025 FY FY	March 02, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	March 02, 2026	March 02, 2026	2026	View Filing
8-K 8-K 2025 N/A	December 29, 2025	December 29, 2025	2025	View Filing
8-K 8-K 2025 N/A	December 01, 2025	November 25, 2025	2025	View Filing

Showing 1 to 10 of 351 filings

Related Guides

Blog Categories

Continue your AAON research with focused valuation guides.

Fundamentals

Decode statement quality and operating durability.

Accounting

Interpret line items with cleaner analytical framing.

Forecasting

Translate historical performance into forward scenarios.

Reference

Use practical frameworks for statement-led valuation.

Research Paths

Pick your next lens

Snapshot

Start with context, operating signals, and key market metrics.

Value Model

Stress test fair value across bear, base, and bull assumptions.

Statements

Validate revenue quality, margins, and balance sheet durability.

Earnings Call

Read management commentary and compare it with reported outcomes.

Dividends

Check payout sustainability and long-term distribution behavior.

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.