AAON, Inc.
AAONIndustrialsNASDAQBuilding Products & Equipment · Last scanned May 28, 2026
Scan Results
Daily timeframe1 of 4 indicators bearish as of May 27
Headquartered within the industrials sector, AAON, Inc. focuses on Building Products & Equipment services and products. 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 carries a $11.43B market cap, placing it firmly in the large-cap category. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX.
Market Cap
$11.43B
Beta
1.25
P/E (TTM)
98.27
P/E (Fwd)
42.39
EPS (TTM)
$1.42
EPS (Fwd)
$3.29
ROE
13.5%
ROA
6.9%
Cash
$13,000
Total Debt
$443.3M
Free CF
-$215.1M
52W Change
45.1%
Annual Financials
Cash vs Debt
AAON, Inc. carries $443.3M in total debt against $13K in cash reserves — debt is roughly 34102.5x the cash position. Managing this leverage effectively will be important for long-term financial stability. Free cash flow is running at -$215.1M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of 13.5% points to decent capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. An ROA of 6.9% suggests reasonable efficiency in deploying the company's asset base. Revenue has grown from $888.8M (2022) to $1.44B (2025), reflecting a 62% increase over the period.
The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. At over 50x earnings, AAON carries valuation risk — any slowdown in growth expectations could lead to meaningful price adjustments. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for AAON, Inc. and its sector.