AAON · Aaon, Inc. · Financials
3 customers — 10% of revenue (the years ended December 31, 2025, 2024, and 2023)
“For the years ended December 31, 2025, 2024, and 2023, the Company had three, two and three customers, respectively, that were 10 percent or greater concentrations of revenue.”
3 customers — 10% of receivables (At December 31, 2025 and December 31, 2024)
“At December 31, 2025 and December 31, 2024, the Company had three customers that were 10 percent or greater concentrations of accounts receivable.”
Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1.93B | $1.44B | $1.2B | $1.17B | $888.79M | $534.52M | $514.55M | $469.33M | $433.95M | $405.23M | $383.98M | — | — | — | — | — | — | — | |
| — | -$17.73M | -$2.91M | -$4.84M | -$2.63M | -$132K | $88K | $66K | $196K | $298K | $292K | $161K | $276K | $221K | $42K | -$179K | — | — | |
| $1.44B | $1.06B | $803.53M | $769.5M | $651.22M | $396.69M | $358.7M | $349.91M | $330.41M | $281.58M | $265.9M | $249.95M | $248.06M | $231.35M | $232.62M | $219.94M | $189.36M | $177.74M | |
| $494.09M | $385.72M | $397.11M | $399.02M | $237.57M | $137.83M | $155.85M | $119.43M | $103.53M | $123.65M | $118.08M | $108.68M | $108.26M | $89.79M | $70.5M | $46.28M | $55.19M | $67.55M | |
| — | 26.75% | 33.07% | 34.15% | 26.73% | 25.79% | 30.29% | 25.45% | 23.86% | 30.51% | 30.75% | — | — | — | — | — | — | — | |
| — | $58.2M | $47.3M | $43.7M | $46.8M | $16.6M | $17.4M | $14.8M | $13.5M | $13M | $12M | $7.5M | $6.3M | $5.2M | $3.6M | $4.8M | $3.6M | — | |
| $280.55M | $239.48M | $188.01M | $171.54M | $110.82M | $68.6M | $60.49M | $52.08M | $48.19M | $49.37M | $38.51M | $37.44M | $40.56M | $33.99M | $26.26M | $22.31M | $22.55M | $23.85M | |
| $6.35M | $6.89M | $8.38M | $5.33M | $3.6M | $246K | $234K | $234K | $194K | $0 | $0 | — | — | — | — | — | — | — | |
| $85.03M | $79.19M | $62.74M | $46.47M | $35.11M | $30.34M | $25.63M | $22.77M | $17.66M | $15.01M | $13.04M | — | — | — | — | — | — | — | |
| $213.5M | $146.25M | $209.12M | $227.49M | $126.76M | $69.25M | $101.84M | $67.01M | $55.35M | $74.24M | $79.59M | $71.3M | $68.01M | $55.83M | $44.23M | $22.17M | $32.72M | $43.75M | |
| — | 10.14% | 17.42% | 19.47% | 14.26% | 12.96% | 19.79% | 14.28% | 12.76% | 18.32% | 20.73% | — | — | — | — | — | — | — | |
| $298.53M | $225.44M | $271.85M | $273.96M | $161.87M | $99.6M | $127.47M | $89.78M | $73.01M | $89.24M | $92.63M | — | — | — | — | — | — | — | |
| $3000 | — | — | — | — | — | — | — | — | — | — | — | — | — | $44K | $277K | $45K | $9000 | |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | $86K | $98K | $258K | $71K | |
| $359K | $230K | $378K | $503K | $399K | $61K | $51K | -$46K | -$47K | $91K | $105K | -$124K | -$36K | $248K | $41K | -$477K | -$235K | $76K | |
| $191.69M | $128.75M | $206.59M | $223.15M | $124.53M | $69.18M | $101.98M | $67.03M | $55.5M | $74.62M | $79.99M | $71.34M | $68.25M | $56.29M | $44.32M | $21.51M | $32.69M | $43.89M | |
| $32.4M | $21.16M | $38.03M | $45.53M | $24.16M | $10.42M | $22.97M | $13.32M | $13.17M | $20.79M | $26.62M | $25.61M | $24.09M | $18.75M | $16.87M | $7.53M | $10.8M | $16.17M | |
| $159.29M | $107.59M | $168.56M | $177.62M | $100.38M | $58.76M | $79.01M | $53.71M | $42.33M | $53.83M | $53.38M | $45.73M | $44.16M | $37.55M | $27.45M | $13.99M | $21.89M | $27.72M | |
| — | 7.46% | 14.04% | 15.2% | 11.29% | 10.99% | 15.35% | 11.44% | 9.75% | 13.28% | 13.9% | — | — | — | — | — | — | — | |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | $27.45M | $13.99M | $20.82M | $28.02M | |
| USD/shares | $1.95 | $1.32 | $2.07 | $2.19 | $1.26 | $0.75 | $1.01 | $0.69 | $0.54 | $0.68 | $0.67 | $0.57 | $0.54 | $0.45 | $0.33 | $0.25 | $0.58 | $0.71 |
| USD/shares | $1.91 | $1.29 | $2.02 | $2.13 | $1.24 | $0.73 | $0.99 | $0.68 | $0.53 | $0.67 | $0.67 | $0.56 | $0.53 | $0.45 | $0.33 | $0.25 | $0.58 | $0.71 |
| shares | — | 81.53M | 81.47M | 81.16M | 79.58M | 78.61M | 78.25M | 78.12M | 78.43M | 78.86M | 79.39M | 81.07M | 82.21M | 82.68M | 82.86M | 55.55M | 37.8M | 38.67M |
| shares | — | 83.11M | 83.63M | 83.3M | 81.15M | 80.59M | 79.59M | 78.95M | 79M | 79.62M | 80.17M | 81.72M | 83.05M | 83.38M | 83.36M | 55.98M | 38.01M | 38.94M |
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2009–FY2025: $266.28M in dividends.
Debt Profile
Completed filing coverage through Dec 29, 2025Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
Reported debt balances
Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.
| Reported balance | As of | Amount | Source |
|---|---|---|---|
| Current operating lease liabilities | 2026-06-30 | USD 3,385,000 | 10-Q filed 2026-08-10 |
| Line of credit borrowings, including current maturities | 2026-06-30 | USD 435,000,000 | 10-Q filed 2026-08-10 |
| Noncurrent operating lease liabilities | 2026-06-30 | USD 13,699,000 | 10-Q filed 2026-08-10 |
Covenants
Covenant terms have not yet been verified for this profile.
The balance figures do not establish whether covenants apply or whether the company complies with them.
Loans, facilities and notes
The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Peer medians compare against the 21 similar-size Building Products & Equipment companies (of 37 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| AAON Oklahoma | $801,209,000 | $858,711,000 | $897,919,000 | $663,845,000 | $463,845,000 | $458,957,000 | $418,669,000 | — |
| AAON Coil Products | $325,353,000 | $143,871,000 | $112,320,000 | $107,290,000 | $66,589,000 | $55,594,000 | $50,664,000 | — |
| BasX | $315,514,000 | $198,053,000 | $158,279,000 | $117,653,000 | $4,083,000 | $0 | $0 | — |
| Parts | — | — | — | — | — | — | — | $28,456,000 |
| Units | — | — | — | — | — | — | — | $406,331,000 |
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| AAON Products | $894,282,000 | $975,642,000 | — | — | — | — | — | — |
| BASX Products | $547,794,000 | $224,993,000 | $166,526,000 | $117,653,000 | — | — | — | — |
| Part Sales | $80,200,000 | $76,900,000 | — | $53,600,000 | $41,128,000 | $32,561,000 | $33,331,000 | $26,732,000 |
| Air Handlers | — | — | — | $61,876,000 | $26,684,000 | $23,931,000 | $24,265,000 | $21,905,000 |
| Cleanroom Systems | — | — | $45,191,000 | — | $2,288,000 | — | — | — |
| Condensing Units | — | — | — | $46,589,000 | $26,751,000 | $21,149,000 | $18,475,000 | $18,282,000 |
| Data Center Cooling Solutions | — | — | $101,299,000 | — | $1,688,000 | — | — | — |
| Outdoor Mechanical Rooms | — | — | $506,000 | $1,467,000 | $1,284,000 | $2,842,000 | $1,643,000 | $2,408,000 |
| Rooftop Units | — | — | $804,254,000 | $579,363,000 | $398,461,000 | $400,946,000 | $349,427,000 | $333,105,000 |
| Water Source Heat Pumps | — | — | $15,898,000 | — | $21,174,000 | $19,053,000 | $25,447,000 | $14,660,000 |
| Product And Service Other | — | — | $29,044,000 | $25,027,000 | $15,059,000 | $14,069,000 | $16,745,000 | $16,855,000 |