A. O. Smith Corporation

A. O. Smith Corporation

AOSยทNYSE

$56.73

-0.32%
IndustrialsIndustrial - Machinery

A. O. Smith Corporation manufactures and markets residential and commercial gas, heat pump and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; commercial boilers for hospitals, schools, hotels, and other large commercial buildings, as well as residential boilers for homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, on-the-go filtration bottles, point-of-use carbon, and reverse osmosis products for residences, restaurants, hotels, and offices. It also provides food and beverage filtration products; expansion tanks, commercial solar water heating systems, swimming pool and spa heaters, and related products and parts; and heat pumps, electric wall-hung, gas tankless, combi-boiler, heat pump and solar water heaters. The company offers its products primarily under the A. O. Smith, State, Lochinvar, and water softener brands. It distributes its products through independent wholesale plumbing distributors, as well as through retail channels consisting of hardware and home center chains, and manufacturer representative firms; and offers Aquasana branded products directly to consumers through e-commerce, as well as other online retailers. A. O. Smith Corporation was founded in 1874 and is headquartered in Milwaukee, Wisconsin.

At a Glance

Live Snapshot
Market Cap$7.93B
EPS3.8600
P/E Ratio14.70
Earnings Date07/23/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is mid-range (P/E 14.7).

Valuation inputs: P/E 14.7, earnings yield +6.8%, momentum -0.3%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is strong (ROE +29.4%, ROIC +23.9%).

Profitability stack: net margin +14.3%, ROE +29.4%, ROIC +23.9%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +40.9%, momentum -0.3%, net margin +14.3%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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A. O. Smith Corporation Market vs Earnings Trajectory

AOS ยท NYSE

Loading price and EPS data...

A. O. Smith Corporation

A. O. Smith Corporation Fair Value Envelope

AOS ยท NYSE

Our analysis suggests that AOS has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $56.73, this represents a potential HIDDEN relative to our calculated worth for A. O. Smith Corporation.

Intrinsic Value
Current Price: $56.73
3Y+154.0%
5Y+80.0%
10Y+106.0%
3Y+2.0%
5Y+32.0%
10Y+43.0%
3Y+132.0%
5Y+58.0%
10Y+67.0%
3Y+58.0%
5Y+10.0%
10Y+38.0%
3Y+70.0%
5Y+8.0%
10Y+49.0%
3Y-6.0%
5Y-1.0%
10Y+9.0%
A. O. Smith Corporation

A. O. Smith Corporation Profit Bridge

AOS ยท NYSE
Revenue3.83B
Cost of Goods Sold (2.34B)
Gross Profit1.49B
Operating Expenses (759.40M)
Operating Income728.00M
Interest Expense (13.50M)
Other Income/Expense-12.90M
Pretax Income715.10M
Income Tax (168.90M)
Net Income546.20M
Net Income
546.20M

Profitability Analysis

Gross Margin

38.8%

Strong gross margins indicate healthy pricing and efficient production or service delivery.

Operating Margin

19.0%

Healthy operating margins demonstrate effective cost control and strong business fundamentals.

Net Profit Margin

14.3%

Strong net margins indicate efficient operations and favorable tax/interest management.

Effective Tax Rate

23.6%

Moderate tax rate typical for most corporations. Represents standard tax burden on profits.

Profitability Insight

Room for improvement: Moderate profitability with opportunities to enhance margins through better cost management or pricing strategy.

38.83%
Gross Profit Margin
2%
3Y+10.0%
5Y+1.0%
10Y-7.0%
19.01%
Operating Profit Margin
1%
3Y+8.0%
5Y+23.0%
10Y+11.0%
14.26%
Net Profit Margin
2%
3Y+127.0%
5Y+20.0%
10Y+17.0%
29.40%
Return on Equity
4%
3Y+118.0%
5Y+58.0%
10Y+36.0%
17.38%
Return on Assets
6%
3Y+146.0%
5Y+59.0%
10Y+54.0%
23.94%
Return on Invested Capital
3%
3Y-12.0%
5Y+58.0%
10Y+57.0%
AOS

A. O. Smith Corporation Cash Conversion Engine

AOS ยท NYSE
Net Income546.20M
Depreciation & Amortization85.10M
Stock-Based Compensation13.80M
Change in Working Capital-37.20M
Others0.00
Capital Expenditures-70.80M
Free Cash Flow546.00M

Cash Flow Quality Analysis

FCF Conversion Rate

100.0%

Strong cash conversion. Most reported earnings translate into actual cash flow, suggesting solid fundamentals.

CapEx Intensity

11.5%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+15.2%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

-$37.20M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

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A. O. Smith Corporation Funding & Solvency Profile

AOS ยท NYSE
Cash & Cash Equivalents185.20M
Net Receivables634.10M
Inventory488.50M
Other Current Assets41.90M
Total Current Assets1 B
Property, Plant & Equipment684.00M
Goodwill & Intangible Assets1.52B
Long-Term Investments0.00
Other Non-Current Assets79.30M
Total Non-Current Assets763 M
Total Assets
3.65B

Financial Health Analysis

Current Ratio

1.56x

Strong liquidity. The company has adequate resources to meet short-term liabilities.

Debt-to-Equity Ratio

0.94x

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

Working Capital

490 M

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

Asset Composition

37% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

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.

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A. O. Smith Corporation Street Expectations Map

AOS ยท NYSE

Wall Street analysts project that AOS stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 72.67, with estimates ranging from a low of 67.00 to a high of 80.00.

Lowest Target
67.00
18.10%
Consensus Target
72.67
28.10%
Highest Target
80.00
41.02%

The consensus 1-year price target stands at 72.67, with estimates ranging from a low of 67.00 to a high of 80.00.

Analyst Consensus Analysis

Upside Potential

+28.1%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

17.9% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Analyst Conviction

Very High

Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.

Market Sentiment Insight

Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.

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A. O. Smith Corporation Insider Positioning

AOS ยท NYSE

During the last 12 months, insiders have sold $3.11M worth of AOS shares, with no buying activity reported.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

1.5K

110.56K

Net Activity

-111K

-$111K

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

42.0K

3.00M

Net Activity

-3.0M

-$3.00M

Top Buyers

No buying activity

Top Sellers

1
WKJ

Wheeler Kevin J.

Director, Officer: Executive Chairman

22.2K sharesโ€ข1 transactions

$1.58M

2
SJF

Stern James F

Officer: Exec Vp, General Counsel & Sec

17.4K sharesโ€ข1 transactions

$1.24M

3
SMD

Smith Mark D

Director

2.4K sharesโ€ข1 transactions

$171K

4
SDW

Schuh Darrell W.

Officer: Svp; President & Gm Lochinvar

1.5K sharesโ€ข2 transactions

$111K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $3.11M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Insider Participation

High Selling

4 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.

0.55%
Dividend Yield
1%
3Y+26.0%
5Y+42.0%
10Y+99.0%
ย 

aos Dividend History

AOS
10Y CAGR +12%
Latest $0.36
Annual $1.76
5 year growth trend
Last Period: +0%