# AAON Inc. (AAON) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Industrials / Building Products. Price $79.40, market value $6.5 billion.

## Valuation
- **P/E (trailing): 41.8×** (5-yr avg 52.4×, 3-yr avg 50.4×). AAON Inc. trades at 41.8× trailing earnings, well below its own five-year average of 52.4×: cheap by its own standards. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 22.5×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 3.4×**. Each dollar of revenue is priced at 3.4×.
- **Price / book: 6.5×**. The shares trade at 6.5× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 21.9×**. Enterprise value is 21.9× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Earnings yield: 2.4%**. The inverse of the P/E: 2.4% of the price is earned each year.

## Profitability
- **Gross margin: 25.6%**. AAON Inc. keeps 25.6% of revenue after the direct cost of what it sells.
- **Operating margin: 11.0%**. 11.0% of revenue is left after running the business.
- **Net margin: 7.5%**. 7.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.0%**. 12.0% on shareholders' equity is solid.
- **Return on invested capital: 18.8%**. Return on all capital, debt included, is 18.8%: comfortably above what that capital costs.
- **Return on assets: 9.4%**. Each dollar of assets produces 9.4% of profit.

## Growth
- **Revenue growth (1 yr): 20.1%** (3-yr 17.5%/yr, 5-yr 22.9%/yr). Revenue grew 20.1% over the last year, against 22.9% a year compounded over five years.
- **EPS growth (1 yr): -36.1%** (3-yr 1.3%/yr, 5-yr 5.4%/yr). Earnings per share fell 36.1%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.00**. Debt is 0.00 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. AAON Inc. holds more cash than debt.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 0.50%** ($0.40 per share, trailing). AAON Inc. yields 0.50%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 30%**. 30% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 12**. 12 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 9.6%/yr** (1-yr 25.0%). The dividend has grown 9.6% a year over five years.

## Price and momentum
- **Total return (1 yr): -2.1%** (YTD 4.3%, 3-mo -40.1%). The shares are down 2.1% over twelve months including dividends.
- **From 52-week high: -47.2%** (8.5% above the low). Trading 47% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 40**. An RSI of 40 is neutral.
- **Beta (1 yr): 2.14** (volatility 61%). Beta of 2.14 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AAON · Page: https://foliofundamentals.com/stocks/aaon

Not investment advice.