AAON · Aaon, Inc.
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.”
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Jul 23, 2026TL;DR. AAON delivered record Q2 results with net sales up 101% and operating income up 192%, while raising full-year sales growth guidance to 55-60% but cutting gross margin guidance to 25-26% from 27-28%, as accelerated Memphis capacity ramp and price-cost pressure compressed near-term profitability.
- + Raised full-year 2026 sales growth outlook to 55-60% from prior 40-45%
- + Total backlog nearly doubled year-over-year to $2.0 billion despite record revenue conversion
- − Cut full-year 2026 gross margin guidance to 25-26% from prior 27-28%
- − Q2 consolidated gross margin contracted to 24.3% from 26.6% as Memphis ramp, outsourcing, and inflation pressured costs
- − AAON Oklahoma segment gross margin fell to 24.3% from 28.9% year-over-year as Memphis overhead allocated to the segment rose to $18.1 million from $3.0 million
- − Total backlog declined 7.4% sequentially as accelerated conversion outpaced new bookings in the quarter
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| AAON-branded backlog | 540.47M | June 30, 2026 | — |
| AAON-branded sales | 282.2M | Q2 2026 | — |
| Adjusted EBITDA margin non-GAAP | 15.3% | Six Months Ended June 30, 2026 | — |
| Adjusted EBITDA, a non-GAAP measure non-GAAP | 172.22M | Six Months Ended June 30, 2026 | — |
| Adjusted non-GAAP EPS non-GAAP | $0.69 | Q2 2026 | — |
| BASX-branded backlog | 1.43B | June 30, 2026 | — |
| BASX-branded liquid cooling sales | 126.6M | Three Months Ended June 30, 2026 | — |
| BASX-branded sales | 345M | Q2 2026 | — |
| EBITDA, a non-GAAP measure non-GAAP | 170.89M | Six Months Ended June 30, 2026 | — |
| Non-GAAP adjusted earnings per diluted share non-GAAP | $1.16 | Six Months Ended June 30, 2026 | — |
| Non-GAAP adjusted net income non-GAAP | 97.47M | Six Months Ended June 30, 2026 | — |
| SG&A as a percent of sales | 13.3% | Q2 2026 | — |
| Total backlog | 1.97B | June 30, 2026 | — |
| Year-to-date operating cash flow | 55M | Year-to-date Q2 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Building Products & Equipment — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
AAON
this stock
Aaon, Inc.
|
$7.48B | +15.5% | +20.1% | 47.5 | 5.9% |
|
TT
Trane Technologies plc
|
$99.99B | +21.0% | +5.6% | 34.4 | 1.5% |
|
JCI
Johnson Controls International plc
|
$91.64B | +31.0% | -4.2% | 27.2 | 1.6% |
|
CARR
CARRIER GLOBAL Corp
|
$46.00B | +5.5% | -3.3% | 36.2 | 1.9% |
|
CODGF
Compagnie De Saint Gobain
|
$37.80B | -29.6% | — | — | 0.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| AAON | +3.5% | +10.9% | -4.9% | +6.4% | +15.5% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | +2.3% | +10.3% | -16.5% | +4.8% | +1.9% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.