AAON vs Zurn Elkay Water Solutions
Zurn Elkay Water Solutions is the larger business, with $1.70bn of revenue in fiscal 2025 against $1.44bn for AAON (1.2 times as much). AAON grew faster (20.1% against 8.3%). Zurn Elkay Water Solutions kept more of each dollar of sales as profit: a net margin of 11.7% against 7.5%.
| Latest fiscal year | AAONAAON, 2025 | Zurn Elkay Water SolutionsZWS, 2025 |
|---|---|---|
| Revenue | $1.44bn | $1.70bn |
| Revenue growth | 20.1% | 8.3% |
| Net income | $108m | $198m |
| Operating margin | — | 16.4% |
| Net margin | 7.5% | 11.7% |
| Return on equity | 12.5% | 12.4% |
| Free cash flow | $534,000 | $347m |
| Cash | $13,000 | $301m |
| Total debt | $360m | $501m |
| Debt to equity | — | 31.2% |
| Dividend per share | $0.40 | $0.38 |
| Dividend yield | 0.6% | 1.0% |
| Share buybacks | $30.0m | $160m |
| Employees | 5,897 | 2,600 |
| Market value | $5.71bn | $7.32bn |
| Price vs our value range | Above our value range | Within our value range |
| Moat score | 62 (Moderate) | 56 (Moderate) |
| Insider trades, 12 months | 5 buys, 25 sales | 1 buys, 24 sales |