AAON, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $1.4B | $1.2B | $1.2B | $888.8M | $534.5M |
| Cost of revenue | $1.1B | $803.5M | $769.5M | $651.2M | $396.7M |
| Gross profit | $385.7M | $397.1M | $399.0M | $237.6M | $137.8M |
| Selling, general & administrative | $239.5M | $188.0M | $171.5M | $110.8M | $68.6M |
| Research and development | $58.2M | $47.3M | $43.7M | $46.8M | $16.6M |
| Operating income | $146.2M | $209.1M | $227.5M | $126.8M | $69.3M |
| Pretax income | $128.8M | $206.6M | $223.2M | $124.5M | $69.2M |
| Income tax expense | $21.2M | $38.0M | $45.5M | $24.2M | $10.4M |
| Net income | $107.6M | $168.6M | $177.6M | $100.4M | $58.8M |
| Balance Sheet | |||||
| Cash and equivalents | $13,000 | $14,000 | $287,000 | $5.5M | $2.9M |
| Current assets | $869.2M | $488.2M | $409.0M | $349.1M | $218.1M |
| Total assets | $1.7B | $1.2B | $941.4M | $813.9M | $650.2M |
| Current liabilities | $330.9M | $174.9M | $126.7M | $145.6M | $86.8M |
| Stockholders' equity | $895.0M | $824.6M | $735.2M | $560.7M | $466.2M |
| Cash Flow Statement | |||||
| Cash from operations | $534,000 | $192.5M | $158.9M | $61.3M | $61.2M |
| Depreciation and amortization | $79.2M | $62.7M | $46.5M | $35.1M | $30.3M |
| Stock-based compensation | $18.0M | $16.7M | $16.4M | $13.7M | $11.8M |
| Capital expenditure | — | — | — | $54.0M | $55.4M |
| Free cash flow | — | — | — | $7.3M | $5.8M |
| Dividends paid | $32.6M | $26.1M | $26.4M | $22.9M | $19.9M |
| Share repurchases | $30.0M | $100.0M | $25.0M | $12.7M | $20.9M |
Shares outstanding 81.9M · Free float 81.6%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.