TORVANTA
Other · S&P 500 · data as of 2026-10-05

AAON stock analysis: AAON

AAON (AAON) is an S&P 500 company in Other. It grades strongest on growth and weakest on value and momentum.

The model's view of AAON · subscribers

Where AAON ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with AAON · updated 2026-10-05 · from prices and SEC filings

AAON price performance

AAON against the S&P 500, one year
-25%+0%+25%+50%S&P 500 +18%AAON -7%2025-09-292026-10-05
Year to date+11.0%S&P 500 +14.5% · behind by 3.5 pts
1 year-13.8%S&P 500 +17.0% · behind by 30.9 pts
3 years+52.5%S&P 500 +89.3% · behind by 36.7 pts
5 years+91.2%S&P 500 +91.3% · behind by 0.1 pts

Total returns with dividends reinvested.

AAON factor grades

Each grade compares AAON with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

D+ValueP/E 44.2x (industry 20.1x)FCF yield 1.2% (industry 6.0%)
A-GrowthRevenue growth +54% (industry +8%)EPS growth +30% (industry +10%)
C+ProfitabilityOperating margin 11.0% (industry 9.6%)ROIC 17.6% (industry 10.1%)
DMomentum12-month change -14%From 52-wk high -43%

AAON in plain numbers

AAON key statistics

SectorOther
Industryn/a
IndexS&P 500
Market value$7.0B
Revenue growth (y/y)+54%
Free-cash-flow yield1.2%
Dividend yield0.5%
Next earnings (expected)2026-11-05
Valuation measures
Market value$7.0B
Enterprise value$7.0B
P/E (trailing)44.2x
Forward P/E (Torvanta estimate)36.3x
PEG (Torvanta estimate)1.68
Price / sales3.6x
Price / book6.9x
EV / revenue3.6x
EV / EBITDA23.3x
Financial highlights
Revenue, last 12 months$1.9B
Net income, last 12 months$159.3M
EPS, last 12 months (GAAP)$1.91
Gross margin25.6%
Operating margin11.0%
Net margin8.2%
Return on equity17.3%
Return on invested capital17.6%
Cash$13K
Current ratio3.01x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

AAON earnings trends

Revenue vs earnings
$0$156.7M$313.5M$470.2M$627.0MSep 2024 Revenue: $327.3MDec 2024 Revenue: $297.7MMar 2025 Revenue: $322.1MJun 2025 Revenue: $311.6MSep 2025 Revenue: $384.2MDec 2025 Revenue: $424.2MMar 2026 Revenue: $496.9MJun 2026 Revenue: $627.0MSep 2024 Net income: $52.6MDec 2024 Net income: $24.7MMar 2025 Net income: $29.3MJun 2025 Net income: $15.5MSep 2025 Net income: $30.8MDec 2025 Net income: $32.0MMar 2026 Net income: $39.8MJun 2026 Net income: $56.7MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 16.1%Net margin: 8.3%Net margin: 9.1%Net margin: 5.0%Net margin: 8.0%Net margin: 7.6%Net margin: 8.0%Net margin: 9.0%0%8%16%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.2$0.3$0.5$0.7Sep 2024 EPS (GAAP, diluted): $0.6Dec 2024 EPS (GAAP, diluted): $0.3Mar 2025 EPS (GAAP, diluted): $0.4Jun 2025 EPS (GAAP, diluted): $0.2Sep 2025 EPS (GAAP, diluted): $0.4Dec 2025 EPS (GAAP, diluted): $0.4Mar 2026 EPS (GAAP, diluted): $0.5Jun 2026 EPS (GAAP, diluted): $0.7Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 -41% · Dec 2025 +27% · Mar 2026 +37% · Jun 2026 +258%

From the company's 10-Q and 10-K filings with the SEC.

AAON financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$534.5M$888.8M$1.2B$1.2B$1.4B
Net income$58.8M$100.4M$177.6M$168.6M$107.6M
EPS (GAAP)$0.72$1.24$2.13$2.01$1.29
Free cash flow$5.8M$7.3Mn/an/an/a

AAON earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-08-10$0.68+258%+101%-9.2%
2026-05-07$0.48+37%+54%+41.6%
2026-03-02$0.38+27%+42%-5.0%
2025-11-06$0.37-41%+17%+13.9%
2025-08-11$0.19-69%-1%+2.2%
2025-05-01$0.35-24%+23%+6.7%

Companies similar to AAON

CompanyMarket valueP/ERevenue growthOperating margin12-month change
AAON AAON$7.0B44.2x+54%11.0%-14%
CLF CLF$7.0Bn/a+4%-4.2%-4%compare
ENS ENS$7.0B20.7x+4%13.0%+69%compare
SARO SARO$7.0B21.7x+13%9.5%-21%compare
CELH CELH$7.0B119.7x+83%5.3%-53%
URBN URBN$7.0B12.7x+11%11.3%+12%
AXTA AXTA$7.0B19.1x-3%13.8%+16%

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Frequently asked questions

Is AAON stock a buy?

Torvanta does not tell individuals what to buy. Its grades for AAON are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is AAON's P/E ratio?

AAON trades at about 44.2 times its last 12 months of GAAP earnings reported to the SEC, and about 36.3 times Torvanta's own estimate of the next 12 months.

When does AAON report earnings next?

Based on its filing history, Torvanta expects AAON to report around 2026-11-05.

Does AAON pay a dividend?

Yes. Its dividend yield is about 0.5%, and it has raised its dividend 1 years in a row.

How has AAON performed against the S&P 500?

Over the past year AAON returned -13.8%, against +17.0% for the S&P 500, dividends reinvested.

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Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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