AAON (AAON, Inc.) Stock Financials & Earnings | Market Cap Arena

AAON (AAON, Inc.) Stock Financials & Earnings | Market Cap Arena

AAONAAON, Inc.

Mkt Cap$8B

Industrials·Construction·🇺🇸 United States·NASDAQ

Revenue (TTM)$1.4B

Net Income (TTM)$108M

EPS (TTM)$1.29

Free Cash Flow (TTM)-$190M

Gross Margin26.7%

Op. Margin10.1%

Net Margin7.5%

FCF Margin-13.2%

P/S Ratio (TTM)5.2x

P/E Ratio (TTM)70.0x

YoY Rev Growth+20.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$266M	$77M	$44M
Q2 23	$284M	$94M	$55M
Q3 23	$312M	$116M	$65M
Q4 23	$307M	$112M	$64M
Q1 24	$262M	$92M	$47M
Q2 24	$314M	$113M	$67M
Q3 24	$327M	$114M	$66M
Q4 24	$298M	$78M	$29M
Q1 25	$322M	$86M	$35M
Q2 25	$312M	$83M	$24M
Q3 25	$384M	$107M	$44M
Q4 25	$424M	$110M	$44M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	7.7x	63.2x
Q2 23	7.2x	50.6x
Q3 23	6.7x	44.4x
Q4 23	6.4x	42.4x
Q1 24	6.5x	41.9x
Q2 24	6.3x	40.4x
Q3 24	6.2x	39.4x
Q4 24	6.3x	44.7x
Q1 25	6.0x	47.4x
Q2 25	6.0x	61.7x
Q3 25	5.7x	75.1x
Q4 25	5.2x	70.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$5M	-$24M
Q2 23	$55M	$23M
Q3 23	$47M	$25M
Q4 23	$52M	$25M
Q1 24	$92M	$57M
Q2 24	$36M	-$1M
Q3 24	$64M	$30M
Q4 24	$845K	-$85M
Q1 25	-$9M	-$56M
Q2 25	-$22M	-$58M
Q3 25	$12M	-$33M
Q4 25	$19M	-$43M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$29M
Q2 23	$32M
Q3 23	$22M
Q4 23	$27M
Q1 24	$35M
Q2 24	$37M
Q3 24	$34M
Q4 24	$86M
Q1 25	$47M
Q2 25	$36M
Q3 25	$46M
Q4 25	$62M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+45.5%	+38.8%
Q2 23	+36.0%	+21.7%
Q3 23	+28.6%	+20.1%
Q4 23	+20.4%	+16.7%
Q1 24	-1.4%	-3.0%
Q2 24	+10.4%	+7.5%
Q3 24	+4.9%	+5.8%
Q4 24	-2.9%	+10.5%
Q1 25	+22.9%	+33.4%
Q2 25	-0.6%	+16.9%
Q3 25	+17.4%	+30.1%
Q4 25	+42.5%	+41.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4M	1.3%
Q2 23	$4M	1.5%
Q3 23	$4M	1.4%
Q4 23	$4M	1.4%
Q1 24	$4M	1.5%
Q2 24	$4M	1.4%
Q3 24	$4M	1.3%
Q4 24	$4M	1.3%
Q1 25	$4M	1.2%
Q2 25	$5M	1.5%
Q3 25	$5M	1.4%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	—	$29M	$846K	—
Q2 23	—	$35M	$1M	—
Q3 23	—	$47M	$646K	—
Q4 23	$44M	$44M	$89K	—
Q1 24	—	$41M	$599K	—
Q2 24	—	$41M	$1M	—
Q3 24	—	$42M	$1M	—
Q4 24	—	$41M	$665K	—
Q1 25	—	$44M	$551K	—
Q2 25	—	$46M	$2M	—
Q3 25	—	—	—	$43M
Q4 25	—	—	—	$66M

Revenue Segments

Quarter	AAON Coil Products	AAON Oklahoma	Bas X
Q1 23	$33M	$202M	$31M
Q2 23	$30M	$218M	$36M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$3M	$0	$3M
Q2 23	$5M	$0	$5M
Q3 23	$212K	$0	$212K
Q4 23	$287K	$0	$287K
Q1 24	$8M	$0	$8M
Q2 24	$13K	$0	$13K
Q3 24	$15K	$0	$15K
Q4 24	$14K	$0	$14K
Q1 25	$994K	$0	$994K
Q2 25	$14K	$0	$14K
Q3 25	$1M	$0	$1M
Q4 25	$13K	$0	$13K

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	83M	+0.8%
Q2 23	83M	+0.7%
Q3 23	83M	-0.1%
Q4 23	83M	+0.1%
Q1 24	84M	+0.7%
Q2 24	84M	-0.3%
Q3 24	83M	-0.8%
Q4 24	84M	+0.6%
Q1 25	83M	-0.3%
Q2 25	83M	-0.5%
Q3 25	83M	-0.0%
Q4 25	83M	+0.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$222K	2K
FY 15	$214K	2K
FY 16	$237K	2K
FY 17	$204K	2K
FY 18	$195K	2K
FY 19	$205K	2K
FY 20	$227K	2K
FY 21	$186K	3K
FY 22	$242K	4K
FY 23	$303K	4K
FY 24	$250K	5K
FY 25	$245K	6K