公司概述
AAON, Inc. engages in the engineering, manufacturing, marketing, and selling of air conditioning and heating equipment across the United States and Canada, operating through three distinct segments: AAON Oklahoma, AAON Coil Products, and BASX. The company is situated within the Industrials sector, specifically the Building Products & Equipment industry, which implies a focus on essential infrastructure components for commercial and residential structures. With a market capitalization of $7.43B, annual revenue of $1.44B, and an employee count of 5897, AAON represents a significant player in its niche. These financial figures indicate a substantial operational scale that allows the firm to maintain a robust presence in the HVAC market while employing nearly 6,000 individuals to support its manufacturing and engineering operations.
财务健康
AAON reported a trailing twelve-month revenue of $1.44B and generated net income of $107.59M, resulting in an EBITDA of $226.93M. The gap between the $1.44B revenue and the $107.59M net income reveals a cost structure where operating expenses and taxes consume approximately 92.5% of total sales before arriving at the bottom line. The company recorded free cash flow of $-235,688,880, indicating a current period of cash burn that suggests limited immediate financial flexibility for large-scale capital expenditures or aggressive share buybacks without external financing. Profitability analysis shows a gross margin of 26.7%, an operating margin of 10.5%, and a profit margin of 7.5%, where the operating margin indicates that roughly 10.5 cents of every sales dollar remains after covering operating costs. On the liquidity side, the company holds $13,000 in cash against $417.11M in debt, creating a scenario where cash reserves are negligible relative to obligations, yet the debt-to-equity ratio stands at 46.60, suggesting a leveraged balance sheet dependent on earnings to service interest payments. The current ratio of 2.63 demonstrates strong short-term liquidity, meaning the company possesses more than double the current assets required to meet its short-term liabilities. Management effectiveness is reflected in a Return on Equity of 12.5% and a Return on Assets of 6.5%, metrics that show the company generates moderate returns relative to the capital invested by shareholders and the total asset base.
估值评估
The stock carries a trailing P/E ratio of 70.36 compared to a forward P/E of 30.64, and this significant difference implies that the market expects earnings to nearly double in the coming year to justify the current valuation. The price-to-book ratio is 8.28, indicating that the market values the company at more than eight times its net book value, which suggests a high premium assigned to its intangible assets and future growth prospects. Alternative valuation metrics further illustrate this premium, with a price-to-sales ratio of 5.15 and an EV/EBITDA of 34.44, suggesting investors are willing to pay a steep multiple for each dollar of sales and earnings. In terms of trading range, the 52-week high is $116.04 and the 52-week low is $62.00; without the specific current share price provided in the facts, the precise percentage distance cannot be calculated, but the wide range highlights potential volatility. The beta value is 1.20, meaning the stock's price volatility is 20% higher than the broader market, indicating it is more sensitive to general market movements than a standard equity index.
Growth & Income
Revenue growth for the trailing twelve months stands at 42.5%, while earnings growth is recorded at 26.1%, indicating that earnings are growing slower than revenue, which suggests that cost of goods sold or other expenses are increasing at a rate that outpaces the top-line expansion. For dividend purposes, the company offers a dividend yield of 0.4% with a payout ratio of 31.0%, and this payout level is sustainable given the current earnings growth rate, as the company retains the majority of profits for reinvestment. The relatively low payout ratio combined with the recent cash burn suggests the company prioritizes operational flexibility over returning significant capital to shareholders via dividends. Overall, the growth and income profile presents a high-growth equity with a modest dividend yield, characterized by accelerating earnings relative to a strong revenue base and a capital allocation strategy that balances dividend payments with internal funding needs.