# AAON Inc. (AAON) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Industrials / Building Products. Price $69.08, market value $5.7 billion.

## Valuation
- **P/E (trailing): 36.4×** (5-yr avg 52.4×, 3-yr avg 50.4×). AAON Inc. trades at 36.4× 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 19.4×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 2.9×**. Each dollar of revenue is priced at 2.9×.
- **Price / book: 5.6×**. The shares trade at 5.6× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 19.1×**. Enterprise value is 19.1× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Earnings yield: 2.8%**. The inverse of the P/E: 2.8% 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.
- **Current ratio: 2.63** (quick 2.63). Current assets cover the next year's liabilities 2.63 times.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 0.58%** ($0.40 per share, trailing). AAON Inc. yields 0.58%, 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.
- **Shareholder yield: 0.9%**. Dividends plus net buybacks return 0.9% of the market value a year.

## Analyst view
- **Analyst consensus: strong_buy** (4 analysts). 4 analysts cover AAON Inc.; the consensus is strong_buy, with an average price target of $128.50 (+86% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -30.7%** (YTD -10.7%, 3-mo -26.5%). The shares are down 30.7% over twelve months including dividends.
- **From 52-week high: -54.1%** (5.4% above the low). Trading 54% 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): 36**. An RSI of 36 is neutral.
- **Beta (1 yr): 2.17** (volatility 62%). Beta of 2.17 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.