📊 AAON Key Takeaways
Is Aaon, Inc.. (AAON) a Good Investment?
AAON demonstrates strong profitability fundamentals with healthy gross margins (26.7%) and solid returns on equity (12.0%), supported by exceptional liquidity (2.63x current ratio). However, critical data anomalies—including implausible 8235% revenue growth, negative free cash flow of -$82.4M despite $534K operating cash flow, and cash equivalents of only $13K against $1.7B assets—suggest either severe reporting inconsistencies or material operational distress requiring clarification.
AAON shows a solid underlying profitability profile, with positive gross, operating, and net margins, strong returns on capital, and a very liquid balance sheet with effectively no leverage. However, the reported revenue surge appears low quality given the sharp decline in net income, extremely weak operating cash flow relative to sales, and negative free cash flow driven by heavy capital spending. Fundamentally, this looks like a financially healthy company facing a period of weaker earnings conversion and elevated execution risk.
Why Buy Aaon, Inc.. Stock? AAON Key Strengths
- Strong gross margin of 26.7% indicates pricing power and operational efficiency in manufacturing
- Excellent liquidity position with current ratio of 2.63x and no debt (0.00x debt/equity)
- Solid ROE of 12.0% and ROA of 6.4% demonstrate reasonable capital deployment efficiency
- Operating margin of 10.1% shows disciplined cost control in core operations
- Strong balance sheet liquidity with a 2.63x current ratio and 1.84x quick ratio
- Minimal financial leverage, with 0.00x debt-to-equity and extremely high interest coverage
- Still profitable at multiple levels, including 26.7% gross margin and 10.1% operating margin
AAON Stock Risks: Aaon, Inc.. Investment Risks
- Severe data inconsistency: $534K operating cash flow cannot support -$82.4M free cash flow, indicating potential reporting error or cash accounting anomaly
- Implausible 8235% YoY revenue growth with concurrent 36.2% net income decline suggests one-time items, acquisition-related distortions, or data quality failure
- Cash position of $13K is financially impossible for a $1.7B asset company, indicating either critical liquidity crisis or measurement error
- Negative free cash flow of -$82.4M with $82.9M capex suggests company is consuming cash despite reported profitability
- Revenue growth quality is questionable because earnings fell sharply despite reported top-line expansion
- Operating cash flow is exceptionally weak versus revenue, indicating poor cash conversion
- Negative free cash flow and elevated capital expenditures may pressure financial flexibility if sustained
Key Metrics to Watch
- Reconcile operating cash flow ($534K) against free cash flow anomaly and cash balance verification
- Clarify revenue growth driver and validate YoY comparability; investigate net income decline despite massive top-line growth
- Confirm actual liquid cash position and working capital sufficiency for $82.9M capex program
- Monitor cash conversion and working capital trends given disconnect between GAAP profitability and cash generation
- Operating cash flow relative to net income and revenue
- Net margin and free cash flow trend over the next few reporting periods
Aaon, Inc.. (AAON) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 2.63x current ratio provides a solid financial cushion.
AAON Profit Margin, ROE & Profitability Analysis
AAON vs Market Sector: How Aaon, Inc.. Compares
How Aaon, Inc.. compares to Market sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Aaon, Inc.. Stock Overvalued? AAON Valuation Analysis 2026
Based on fundamental analysis, Aaon, Inc.. has mixed fundamental signals relative to the Market sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Aaon, Inc.. Balance Sheet: AAON Debt, Cash & Liquidity
AAON Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Aaon, Inc..'s revenue has grown significantly by 170% over the 5-year period, indicating strong business expansion. The most recent EPS of $2.13 reflects profitable operations.
AAON Revenue Growth, EPS Growth & YoY Performance
AAON Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $327.3M | $30.8M | $0.37 |
| Q2 2025 | $311.6M | $15.5M | $0.19 |
| Q1 2025 | $262.1M | $29.3M | $0.35 |
| Q3 2024 | $312.0M | $48.1M | $0.58 |
| Q2 2024 | $284.0M | $45.7M | $0.55 |
| Q1 2024 | $262.1M | $36.8M | $0.44 |
| Q3 2023 | $242.6M | $27.5M | $0.34 |
| Q2 2023 | $208.8M | $15.9M | $0.30 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Aaon, Inc.. Dividends, Buybacks & Capital Allocation
AAON SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Aaon, Inc.. (CIK: 0000824142)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Apr 10, 2026 | 4 | xslF345X06/wk-form4_1775843599.xml | View → |
| Apr 10, 2026 | 4 | xslF345X06/wk-form4_1775842855.xml | View → |
| Apr 10, 2026 | 4 | xslF345X06/wk-form4_1775842839.xml | View → |
| Apr 10, 2026 | 4 | xslF345X06/wk-form4_1775842824.xml | View → |
| Apr 10, 2026 | 4 | xslF345X06/wk-form4_1775842785.xml | View → |
❓ Frequently Asked Questions about AAON
What is the AI rating for AAON?
Aaon, Inc.. (AAON) has a Combined AI Rating of HOLD from Claude (HOLD) and ChatGPT (HOLD) with 60% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are AAON's key strengths?
Claude: Strong gross margin of 26.7% indicates pricing power and operational efficiency in manufacturing. Excellent liquidity position with current ratio of 2.63x and no debt (0.00x debt/equity). ChatGPT: Strong balance sheet liquidity with a 2.63x current ratio and 1.84x quick ratio. Minimal financial leverage, with 0.00x debt-to-equity and extremely high interest coverage.
What are the risks of investing in AAON?
Claude: Severe data inconsistency: $534K operating cash flow cannot support -$82.4M free cash flow, indicating potential reporting error or cash accounting anomaly. Implausible 8235% YoY revenue growth with concurrent 36.2% net income decline suggests one-time items, acquisition-related distortions, or data quality failure. ChatGPT: Revenue growth quality is questionable because earnings fell sharply despite reported top-line expansion. Operating cash flow is exceptionally weak versus revenue, indicating poor cash conversion.
What is AAON's revenue and growth?
Aaon, Inc.. reported revenue of $1.4B.
Does AAON pay dividends?
Aaon, Inc.. pays dividends, with $32.6M distributed to shareholders in the trailing twelve months.
Where can I find AAON SEC filings?
Official SEC filings for Aaon, Inc.. (CIK: 0000824142) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is AAON's EPS?
Aaon, Inc.. has a diluted EPS of $1.29.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is AAON a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Aaon, Inc.. has a HOLD rating with 60% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is AAON stock overvalued or undervalued?
Valuation metrics for AAON: ROE of 12.0% (sector avg: 15%), net margin of 7.5% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy AAON stock in 2026?
Our dual AI analysis gives Aaon, Inc.. a combined HOLD rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is AAON's free cash flow?
Aaon, Inc..'s operating cash flow is $534.0K, with capital expenditures of $82.9M. FCF margin is -5.7%.
How does AAON compare to other Market stocks?
Vs Default sector averages: Net margin 7.5% (avg: 12%), ROE 12.0% (avg: 15%), current ratio 2.63 (avg: 1.8).