AAON, Inc. (AAON) is a Industrials stock trading at $80.83 (as of 2026-08-20), with a market capitalization of $6.62B and a trailing P/E of 41.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
AAON, Inc., with its subsidiaries, designs, manufactures, markets, and sells air conditioning and heating equipment in the United States and Canada. It operates through segments including AAON Oklahoma, AAON Coil Products, and BasX, offering products such as rooftop units, data center cooling and cleanroom systems, chillers, packaged mechanical rooms, air handling equipment, and related controls for commercial customers.
AAON engineers and manufactures air conditioning and heating equipment, including rooftop units and data center cooling solutions, and it makes money from net sales of its AAON-branded equipment and related BasX and coil products sold to customers in the United States and Canada.
The profit engine is sales volume and product mix across AAON and BasX, where demand shows up in Organic Volume, while cost sensitivity is reflected in Parts as a Percentage of Sales (about 6.6 to 7.0 percent).
| AAON OK | $0.2B |
| Aon Coil | $0.1B |
| BasX | $0.1B |
Business quality (Solid): AAON’s reported business is split across AAON Oklahoma, AAON Coil Products, and BasX, with liquid cooling a key part of BasX data center sales. Operational signals are mixed, with Organic Volume up while Net Sales Volume Decline is also reported, so investors should focus on whether volume trends and liquid cooling mix can sustain.
Valuation: At 90× earnings, AAON trades 165% above the Machinery average (34×). Note: one-time items can distort reported P/E.
| Price | $80.83 |
| Market Cap | $6.62B |
| P/E Ratio | 41.6 |
| EV / EBITDA | 22.1 |
| Price / Book | 6.55 |
| Price / Sales | 3.43 |
| DCF Value (model) | $24.36 |
| DCF Upside vs Price | -69.9% |
| Revenue (TTM) | $1.44B |
| Net Margin | 7.5% |
| Revenue Growth (YoY) | 101.2% |
| EPS Growth (YoY) | 263.2% |
| Altman Z-Score | 7.21 (safe) |
| Piotroski F-Score | 4/9 (moderate) |
| Stock P/E | 41.6 |
| Sector P/E (Industrials) | 25.9 |
| Industry P/E (Machinery) | 32.3 |
| vs Sector | 60.5% |
| vs Industry | 28.7% |
| Top Institutional Holder | WELLINGTON MANAGEMENT GROUP LLP ($660.11M) |
| Institutional Holders Tracked | 10 |
| Congressional Trades (recent) | 1 |
| Sector | Industrials |
| Industry | Machinery |
| CEO | Matthew J. Tobolski |
| Employees | 4,812 |
| Country | US |
| IPO Date | 1996-03-25 |
Data as of 2026-08-20.
Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.