# Aaon Inc. (AAON)

**Exchange:** NASDAQ  
**Sector:** Industrials  
**Market cap:** $10.40B  
**Price:** $125.14 (+3.32%)

> Aaon Inc. is a U.S.-based manufacturer of commercial and industrial heating, ventilation, and air conditioning (HVAC) equipment. The company focuses on engineering and producing semi-custom and custom HVAC systems designed for energy-efficient climate control in commercial, institutional, and industrial buildings. Its product portfolio includes rooftop units, chillers, packaged outdoor mechanical rooms, air-handling units, makeup air units, energy-recovery units, condensing units, geothermal heat pumps, self-contained units, and coils. Aaon Inc. operates through segments such as AAON Oklahoma, AAON Coil Products, and BASX, covering system manufacturing, specialized coil production, and modular data center and cleanroom solutions. The company also designs control solutions and supplies replacement and retail parts through physical and online channels, supporting ongoing system operation and maintenance. Headquartered in Tulsa, Oklahoma, Aaon Inc. plays a notable role in the building products and equipment industry, serving customers that require reliable, high-performance HVAC solutions for complex and large-scale facilities.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $1.44B | $386M | $146M | $108M | — |
| 2024 | $1.20B | $397M | $209M | $169M | — |
| 2023 | $1.17B | $399M | $227M | $178M | — |
| 2022 | $889M | $238M | $127M | $100M | — |
| 2021 | $535M | $138M | $69M | $59M | — |
| 2020 | $515M | $156M | $102M | $79M | — |
| 2019 | $469M | $119M | $67M | $54M | — |
| 2018 | $434M | $104M | $55M | $42M | — |
| 2017 | $405M | $124M | $74M | $54M | — |
| 2016 | $384M | $118M | $80M | $53M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $1.69B | — | $895M | $13,000 | — |
| 2024 | $1.18B | — | $825M | $14,000 | — |
| 2023 | $941M | — | $735M | $287,000 | — |
| 2022 | $814M | — | $561M | $5M | — |
| 2021 | $650M | — | $466M | $3M | — |
| 2020 | $449M | — | $351M | $79M | — |
| 2019 | $371M | — | $290M | $27M | — |
| 2018 | $308M | — | $249M | $2M | — |
| 2017 | $297M | — | $239M | $21M | — |
| 2016 | $257M | — | $208M | $24M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $534,000 | — | — |
| 2024 | $193M | — | — |
| 2023 | $159M | — | — |
| 2022 | $61M | — | — |
| 2021 | $61M | — | — |
| 2020 | $129M | — | — |
| 2019 | $98M | — | — |
| 2018 | $55M | — | — |
| 2017 | $58M | — | — |
| 2012 | $51M | — | — |
| 2011 | $26M | — | — |
| 2010 | $32M | — | — |
| 2009 | $45M | — | — |

Source: [CompaniesByCap](https://companiesbycap.com/company/AAON)