AAONAAON, INC.
Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
- Revenue
- $1.4B
- 20% YoY
- Operating margin
- 10.1%
- 42% YoY
- EBITDA
- $225M
- 17% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashFired0% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowFired61× cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear4% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $535M | $889M | $1.2B | $1.2B | $1.4B | 20% |
| Operating income | $69M | $127M | $227M | $209M | $146M | 30% |
| Net income | $59M | $100M | $178M | $169M | $108M | 36% |
| Operating cash flow | $61M | $61M | $159M | $193M | $534K | 100% |
| Capex | $55M | $54M | — | — | — | |
| Stock-based comp | $12M | $14M | $16M | $17M | $18M | 7.6% |
| Dividends | $20M | $23M | $26M | $26M | $33M | 25% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.