Inside the research
AAON, Inc.
AAON Research profile · latest available data
Price overview
$89.10
▲ +4.83 (+5.7%)
| 52w hi | $147.96 |
|---|---|
| 52w lo | $73.25 |
| Vol | 1.95M |
| As of | 25 Sep 2026 |
The Verdict
Our score -0.05
| Short | +0.07 |
|---|---|
| Medium | -0.26 |
| Long | +0.14 |
computed 2026-09-27
Key fundamentals
AAON, Inc.
Industrials · Building Products & Equipment
| Market cap | $7.35B |
|---|---|
| Enterprise value | $7.80B |
| Trailing P/E | 46.89x |
| Forward P/E | 25.47x |
| EV / EBITDA | 25.99x |
| P / S (ttm) | 3.80x |
| Profit margin | 8.2% |
| Return on equity | 17.3% |
| Revenue growth | +101.2% |
| Earnings growth | +257.9% |
| Debt / equity | 44.74 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.37 | |
| Sector | -0.01 | |
| Technical | -0.49 | |
| Earnings | +0.00 | |
| Sentiment | +0.82 |
macro × 1.00 · 2026-09-27
Business overview
AAON, Inc., together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls. The company markets and sells its products to retail, manufacturing, educational, lodging, supermarket, data centers, medical and pharmaceutical, and other commercial industries. It sells its products through a network of independent manufacturer representative organizations and internal sales force, as well as online. AAON, Inc. was incorporated in 1987 and is headquartered in Tulsa, Oklahoma.
Risk Metrics
| Beta vs SPX | 1.71 |
|---|---|
| Corr SPX | 0.46 |
| Annual vol | 60.3% |
| Annual ret | +10.2% |
| Sharpe | 0.17 |
| Max DD | -49.9% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $136.50 |
|---|---|
| High / Low | $150.00 / $120.00 |
| Median | $138.00 |
| Analysts | 4 |
| Strong Buy | 1 | |
|---|---|---|
| Buy | 4 | |
| Hold | 0 | |
| Sell | 0 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-03-03 | Oppenheimer | → Outperform |
| 2026-02-03 | DA Davidson | → Buy |
| 2025-10-14 | Oppenheimer | → Outperform |
| 2025-08-12 | DA Davidson | → Buy |
| 2025-08-12 | Baird | → Buy |
| 2025-06-16 | Sidoti & Co. | → Buy |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-13 | Other Material Event, Exhibits | read |
| 2026-08-10 | Earnings Release, Reg FD Disclosure… | read |
| 2026-07-30 | Officer / Director Change, Bylaws Amendment… | read |
| 2026-06-08 | Reg FD Disclosure, Exhibits | read |
| 2026-05-18 | Shareholder Vote, Other Material Event… | read |
| 2026-05-07 | Earnings Release, Reg FD Disclosure… | read |
| 2026-04-02 | Officer / Director Change, Exhibits | read |
| 2026-03-05 | Other Material Event, Exhibits | read |
| 2026-03-02 | Earnings Release, Reg FD Disclosure… | read |
| 2025-12-29 | Material Agreement, Material Obligation… | read |
| 2025-12-01 | Officer / Director Change, Exhibits | read |
| 2025-11-12 | Other Material Event, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-06-02 | Thompson Rebecca | Chief Accounting Officer | Sell | 4.23K | $606.67K |
| 2026-05-29 | Fields Gary D | Sell | 19.00K | $2.66M | |
| 2026-05-29 | ASBJORNSON NORMAN H | Gift | 101.44K | — | |
| 2026-05-29 | ASBJORNSON NORMAN H | Gift | 88.00K | — | |
| 2026-05-26 | Wichman Gordon Douglas | Executive Vice President | Option exercise | 3.00K | $82.74K |
| 2026-05-26 | Wichman Gordon Douglas | Executive Vice President | Sell | 3.00K | $421.17K |
| 2026-05-26 | Fields Gary D | Option exercise | 21.17K | $1.04M | |
| 2026-05-26 | Fields Gary D | Sell | 21.17K | $2.97M | |
| 2026-05-14 | Kidwell Casey | Chief Administration Offi | Option exercise | 2.08K | $166.16K |
| 2026-05-14 | Kidwell Casey | Chief Administration Offi | Sell | 2.08K | $288.22K |
Flow & Concentration
| Insider 180d net | -$10.81M |
|---|---|
| Insider buys / sells | 0 / 8 |
| Insider bias | Sellers |
| 13F holders | 8 |
| Top-5 share | 99.7% |
| HHI | 4,763 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $333.06M | 2.63M |
| Fidelity / FMR LLC | $79.18M | 624.17K |
| Capital Research / Capital World | $50.42M | 397.43K |
| Citadel Advisors | $38.36M | 302.35K |
| AQR Capital Management | $1.88M | 14.85K |
| Bridgewater Associates | $1.15M | 9.09K |
| Millennium Management | $323.11K | 2.55K |
| T. Rowe Price Group | $54.56K | 430.04K |
As of 2026-06-30
Dividends
| Yield (TTM) | 0.22% |
|---|---|
| $ / share (TTM) | $0.20 |
| 5y CAGR | +9.6% |
Annual dividend per share
| 2021 | $0.25 |
|---|---|
| 2022 | $0.29 |
| 2023 | $0.32 |
| 2024 | $0.32 |
| 2025 | $0.40 |
| 2026 | $0.10 |
SEC Filings
The Long Run
FY 2011–2025 · 15 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $86.08M | -16.0% | |
| Gross profit | $385.72M | +13.3% | |
| Operating income | $227.49M | +18.1% | |
| Net income | $107.59M | +10.2% | |
| Cash from ops | $192.53M | +25.1% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $84.75 | $90.00 | $84.45 | $89.10 | 1.95M |
| Sep 24 | $80.40 | $84.77 | $80.03 | $84.27 | 1.32M |
| Sep 23 | $78.66 | $84.58 | $78.03 | $82.36 | 1.92M |
| Sep 22 | $77.09 | $79.92 | $76.55 | $79.27 | 1.02M |
| Sep 21 | $77.30 | $77.75 | $76.04 | $76.40 | 858.00K |
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