AAON (AAON)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from AAON's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from AAON's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $535M | $889M | $1.2B | $1.2B | $1.4B |
| Net income | $59M | $100M | $178M | $169M | $108M |
| Free cash flow | $6M | $7M | — | — | — |
| EPS (diluted) | $0.73 | $1.24 | $2.13 | $2.02 | $1.29 |
| Operating margin | 13.0% | 14.3% | 19.5% | 17.4% | 10.1% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own AAON
From each investor's latest 13F filing (what a 13F shows). 4 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Ron Baron Baron Capital (BAMCO) |
Trimmed | $69M | 0.10% | Q2 2026 |
| Francois Rochon Giverny Capital Inc. |
Added | $26M | 0.87% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
New position | $2M | 0.00% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $2M | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by AAON's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Sep 15, 2026 | David Raymond Stewart Director |
1,000 | $74.66 | $74,660 |
| Dec 12, 2025 | Stephen E Wakefield |
4,141 | $77.59 | $321,300 |
| Dec 11, 2025 | Stephen E Wakefield |
1,000 | $82.25 | $82,250 |
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In the full deep dive
Questions
Are AAON insiders buying the stock?
3 open-market insider purchases of AAON in the last 12 months, from SEC Form 4 filings.
Which superinvestors own AAON?
4 of the superinvestors Investingly tracks hold AAON in their latest 13F, including Ron Baron, Francois Rochon, Joel Greenblatt.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.