AAON, Inc. income statement
In fiscal 2025, AAON, Inc. reported revenue of $1.44bn, up 20.1% on the year before, operating income of $146m (a 10.1% margin) and net income of $108m, or $1.29 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 245 | 245 | 266 | 303 | 321 | 356 | 359 | 384 | 405 | 434 | 469 | 515 | 535 | 889 | 1,169 | 1,201 | 1,442 | 1,932 |
| Cost of revenue | — | — | — | — | — | — | — | — | 282 | 330 | 350 | 359 | 397 | 651 | 769 | 804 | 1,056 | 1,438 |
| Gross profit | 68 | 55 | 46 | 70 | 90 | 108 | 109 | 118 | 124 | 104 | 119 | 156 | 138 | 238 | 399 | 397 | 386 | 494 |
| Research and development | — | 4 | 5 | 4 | 5 | 6 | 8 | 12 | 13 | 14 | 15 | 17 | 17 | 47 | 44 | 47 | 58 | — |
| Selling, general and administrative | 24 | 23 | 22 | 26 | 34 | 41 | 37 | 39 | 49 | 48 | 52 | 60 | 69 | 111 | 172 | 188 | 239 | 281 |
| Operating income | 44 | 33 | 22 | 44 | 56 | 68 | 71 | 80 | 74 | 55 | 67 | 102 | 69 | 127 | 227 | 209 | 146 | 213 |
| Interest expense | 0 | 0 | 0 | 0 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net interest income | — | — | −0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | −0 | −3 | −5 | −3 | −18 | — |
| Income before tax | 44 | 33 | 22 | 44 | 56 | 68 | 71 | 80 | 75 | 56 | 67 | 102 | 69 | 125 | 223 | 207 | 129 | 192 |
| Income tax | 16 | 11 | 8 | 17 | 19 | 24 | 26 | 27 | 21 | 13 | 13 | 23 | 10 | 24 | 46 | 38 | 21 | 32 |
| Net income | 28 | 22 | 14 | 27 | 38 | 44 | 46 | 53 | 54 | 42 | 54 | 79 | 59 | 100 | 178 | 169 | 108 | 159 |
| Diluted EPS | $0.32 | $0.26 | $0.16 | $0.33 | $0.45 | $0.53 | $0.56 | $0.67 | $0.67 | $0.53 | $0.68 | $0.99 | $0.73 | $1.24 | $2.13 | $2.02 | $1.29 | $1.91 |
| Diluted shares (average) | 88m | 86m | 84m | 83m | 83m | 83m | 82m | 80m | 80m | 79m | 79m | 80m | 81m | 81m | 83m | 84m | 83m | 83m |
| EBITDA | 53 | 43 | 34 | 58 | 68 | 80 | 83 | 93 | 89 | 73 | 90 | 127 | 100 | 162 | 274 | 272 | 225 | 295 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 327 | 298 | 322 | 312 | 384 | 424 | 497 | 627 |
| Cost of revenue | 213 | 220 | 236 | 229 | 277 | 314 | 372 | 474 |
| Gross profit | 114 | 78 | 86 | 83 | 107 | 110 | 125 | 152 |
| Selling, general and administrative | 49 | 48 | 51 | 59 | 63 | 66 | 68 | 84 |
| Operating income | 66 | 29 | 35 | 24 | 44 | 44 | 57 | 69 |
| Net interest income | — | — | −3 | −4 | — | — | −5 | −6 |
| Income before tax | 65 | 28 | 32 | 20 | 38 | 38 | 52 | 63 |
| Income tax | 12 | 4 | 3 | 4 | 8 | 6 | 12 | 6 |
| Net income | 53 | 25 | 29 | 15 | 31 | 32 | 40 | 57 |
| Diluted EPS | $0.63 | $0.30 | $0.35 | $0.19 | $0.37 | $0.38 | $0.48 | $0.68 |
| EBITDA | 80 | 47 | 54 | 42 | 62 | 64 | 78 | 91 |
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