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Companies / Industrials / AAON, Inc.
AAON

AAON, Inc.

IndustrialsIndustrial Machinery
Ticker AAONTULSA, OKFiscal year ends DecemberBook value per share $12.07Diluted shares 83.7M

AAON, Inc. (Nasdaq: AAON) designs and manufactures heating, ventilation, air conditioning and liquid-cooling equipment for commercial and industrial environments, including buildings, data centers and cleanrooms. Its products include rooftop units, air handlers, coils, heat pumps, controls, data center cooling systems… From the company’s description.

In fiscal 2025, AAON, Inc. reported revenue of $1.44B, up 20.1% from fiscal 2024, and net income of $107.59M. Its operating margin was 10.1%, and operations generated $0.53M in cash. Over the twelve months to Jun 30, 2026, revenue was $1.93B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.44BFY2025
+20.1% year over year
Last 12 mo $1.93B
10.14%FY2025
−7.3 percentage points
Last 12 mo 11.05%
$107.59MFY2025
−36.2% year over year
Last 12 mo $159.29M
12.02%FY2025
−8.4 percentage points
Last 12 mo 15.76%
Cash & financing
$0.53MFY2025
−99.7% year over year
Last 12 mo $86.54M
$-190.03MFY2025
−5975.1% year over year
Last 12 mo $-118.79M
0.45FY2025
Was 0.19× a year earlier
Last 12 mo 0.43
83.1MFY2025
−0.6% year over year
Last 12 mo 83.7M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What AAON, Inc. does

In the company’s own words

AAON, Inc. (Nasdaq: AAON) designs and manufactures heating, ventilation, air conditioning and liquid-cooling equipment for commercial and industrial environments, including buildings, data centers and cleanrooms. Its products include rooftop units, air handlers, coils, heat pumps, controls, data center cooling systems and aftermarket parts, with equipment configured to customer requirements and sold primarily through independent representatives. AAON reports three segments: AAON Oklahoma, which makes configurable HVAC systems and controls and sells parts; AAON Coil Products, which produces custom and semi-custom HVAC systems and coils; and BASX, which supplies specialized data center, cleanroom and other custom cooling and air-handling solutions. The AAON and BASX brands serve commercial, industrial, healthcare, institutional and mission-critical applications, including hyperscale data centers and semiconductor and biopharmaceutical facilities. The company had net sales of approximately $1.46 billion in 2025 and employed approximately 5,897 people as of February 24, 2026. Its website is http://www.aaon.com.

Company details
Sector
Industrials
Industry (SIC)
Industrial Machinery
Headquarters
TULSA, OK
Fiscal year end
December
CIK
824142
SIC
3585

Financial performance, year by year

Fiscal 2013–2025 · USD
$-193.24M$386.47M$966.18M$1.55B$2.13B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns AAON, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

388
funds hold it
1 of 35
superinvestors hold it
$3.69B
held by funds, at market
37.0%
of shares held by funds

Superinvestors in AAON, Inc. · what they did last quarter

Francois RochonINCREASED +1.5%
Giverny Capital
0.9%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · AAON, Inc.’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.24%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.11%of fund net assets
First Trust RBA American Industrial Renaissance ETF
AIRR · First Trust Exchange-Traded Fund VI
1.57%of fund net assets
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do AAON, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of AAON, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in AAON, Inc.'s last four quarterly filings that the numbers alone won't show?”
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