A. O. Smith income statement
In fiscal 2025, A. O. Smith reported revenue of $3.83bn, up 0.3% on the year before, operating income of $729m (a 19.0% margin) and net income of $546m, or $3.85 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 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,375 | 1,489 | 1,711 | 1,939 | 2,154 | 2,356 | 2,537 | 2,686 | 2,997 | 3,188 | 2,993 | 2,895 | 3,539 | 3,754 | 3,853 | 3,818 | 3,830 | 3,803 |
| Cost of revenue | — | — | — | — | — | — | — | 1,572 | 1,764 | 1,882 | 1,812 | 1,787 | 2,228 | 2,424 | 2,368 | 2,362 | 2,343 | 2,334 |
| Gross profit | 395 | 446 | 513 | 652 | 774 | 859 | 1,010 | 1,114 | 1,232 | 1,306 | 1,181 | 1,108 | 1,311 | 1,330 | 1,485 | 1,456 | 1,487 | 1,469 |
| Research and development | 31 | 37 | 43 | 52 | 58 | 68 | 74 | 80 | 86 | 94 | 88 | 81 | 94 | 89 | 98 | 102 | 95 | — |
| Selling, general and administrative | 292 | 329 | 373 | 451 | 525 | 572 | 611 | 663 | 723 | 754 | 716 | 660 | 701 | 671 | 727 | 739 | 759 | 778 |
| Operating income | — | 133 | 197 | 259 | 300 | 345 | 453 | 515 | 578 | 613 | 529 | 503 | 682 | 362 | 746 | 708 | 729 | 665 |
| Interest expense | 7 | 7 | 9 | 9 | 6 | 6 | 7 | 7 | 10 | 8 | 11 | 7 | 4 | 9 | 12 | 7 | 14 | 25 |
| Income before tax | 149 | 74 | 162 | 234 | 236 | 287 | 403 | 463 | 521 | 558 | 472 | 444 | 626 | 224 | 734 | 701 | 715 | 640 |
| Income tax | 31 | 17 | 50 | 71 | 67 | 79 | 120 | 136 | 224 | 114 | 102 | 99 | 139 | −12 | 177 | 167 | 169 | 145 |
| Net income | 81 | 112 | 306 | 159 | 170 | 208 | 283 | 327 | 297 | 444 | 370 | 345 | 487 | 236 | 557 | 534 | 546 | 495 |
| Diluted EPS | $0.59 | $0.60 | $1.64 | $0.85 | $0.92 | $1.14 | $1.58 | $1.85 | $1.70 | $2.58 | $2.22 | $2.12 | $3.02 | $1.51 | $3.69 | $3.63 | $3.85 | $3.58 |
| Diluted shares (average) | 138m | 185m | 186m | 186m | 186m | 182m | 179m | 177m | 175m | 172m | 167m | 163m | 161m | 156m | 151m | 147m | 142m | 138m |
| EBITDA | — | 174 | 244 | 314 | 360 | 405 | 516 | 580 | 648 | 685 | 607 | 583 | 760 | 439 | 824 | 787 | 814 | 760 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 912 | 964 | 1,011 | 943 | 913 | 946 | 1,004 | 941 |
| Cost of revenue | 574 | 589 | 614 | 578 | 562 | 580 | 617 | 576 |
| Gross profit | 338 | 375 | 397 | 365 | 350 | 366 | 388 | 365 |
| Selling, general and administrative | 182 | 193 | 191 | 189 | 187 | 204 | 198 | 190 |
| Operating income | 148 | 184 | 206 | 175 | 163 | 162 | 166 | 174 |
| Interest expense | 2 | 3 | 5 | 4 | 2 | 7 | 8 | 8 |
| Income before tax | 145 | 181 | 202 | 172 | 161 | 155 | 158 | 167 |
| Income tax | 35 | 45 | 49 | 40 | 35 | 37 | 33 | 40 |
| Net income | 110 | 137 | 152 | 132 | 125 | 118 | 125 | 126 |
| Diluted EPS | $0.76 | $0.95 | $1.07 | $0.94 | $0.90 | $0.85 | $0.91 | $0.93 |
| EBITDA | 167 | 205 | 227 | 197 | 185 | 186 | 191 | 198 |
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