AAON, INC.
Historical Data
View all| Date | Open | High | Low | Close | Volume |
|---|---|---|---|---|---|
| Jul 3, 2026 | $42.98 | $43.70 | $42.44 | $42.62 | 18.90M |
| Jul 2, 2026 | $43.41 | $43.82 | $41.80 | $42.98 | 20.52M |
| Jul 1, 2026 | $45.58 | $47.86 | $41.35 | $43.41 | 11.81M |
| Jun 30, 2026 | $45.42 | $46.27 | $44.87 | $45.58 | 19.38M |
| Jun 29, 2026 | $45.00 | $45.66 | $44.77 | $45.42 | 11.95M |
| Jun 28, 2026 | $46.17 | $46.50 | $44.04 | $45.00 | 16.81M |
| Jun 27, 2026 | $46.19 | $46.51 | $45.79 | $46.17 | 21.29M |
| Jun 26, 2026 | $46.20 | $46.39 | $46.05 | $46.19 | 15.49M |
Company Overview
AAON, INC. operates in the energy space within the Energy sector. The company generates the majority of its revenue from operating momentum, and has built a durable competitive position through scale, brand, and continued reinvestment. It serves customers globally and is headquartered in the United States. Reported figures on this page are generated for demonstration and are not investment advice.
Leadership
Board 11 · Independent 8 of 11| Date | Firm | Target | Rating |
|---|---|---|---|
| Jul 2 | Rosenblatt | $46.21 | Overweight |
| Jul 2 | Mizuho | $73.58 | Strong Buy |
| Jun 22 | Rosenblatt | $41.28 | Overweight |
| Jun 9 | Rosenblatt | $72.33 | Neutral |
| May 19 | BofA Securities | $56.97 | Neutral |
| May 5 | Citi | $76.01 | Neutral |
Politician Trades
View allWhat's Happening Right Now
- Aug 28, 2026 · Guidance ↗ — The newly renamed Aaon Group disclosed a $2B backlog and guided to a 55%-60% sales jump.
- Aug 21, 2026 · Rebrand ↗ — AAON introduced 'The Aaon Group' as its new enterprise identity.
- Sep 11, 2026 · Ownership ↗ — Wellington Management Group added 2.8 million shares of AAON.
- Sep 8, 2026 · Ownership ↗ — Wellington now oversees 10.4% of AAON stock for its advisory clients.
- Aug 13, 2026 · Analyst ↗ — KeyBanc reiterated a Sector Weight rating on AAON after conducting a facility visit.
Snapshot
AAON grew revenue 20.1% year over year in FY2025, though the absolute revenue figure was not reported. The company posted a 26.7% gross margin and $146.25M in operating income, translating to net income of $107.59M, or a 7.5% net margin. Despite solid profitability on the income statement, operating cash flow was minimal at $534K, and with $54.02M in capital expenditures, free cash flow came in negative at -$53.49M. The balance sheet shows a thin cash position of $13.00K and no reported total debt.
Bottom Line
AAON is showing strong top-line growth (+20.1% YoY) and healthy operating/net margins, alongside a large disclosed backlog and guidance for a 55-60% sales increase, signaling robust demand. However, the disconnect between reported net income and near-zero operating cash flow, coupled with negative free cash flow and a very thin cash balance, raises questions about cash conversion and funding of growth capex. Investors are weighing this growth narrative against valuation, as one analyst view frames 23x 2027 earnings as reasonable given the growth trajectory, while cash-flow quality remains a key variable to watch.