Financials · AOS

A.O. Smith Corporation (AOS) financials

For the twelve months ended Sep 30, 2026, A.O. Smith Corporation reported $3.80B of revenue and $494.60M of net income.

Revenue, TTM
$3.80B
Revenue growth, YoY
-0.7%
Net income, TTM
$494.60M
Net income growth, YoY
-6.8%
Net margin
13.0%
Free cash flow, TTM
$561.70M
EPS, diluted, TTM
$3.58
EPS growth, YoY
-3.5%
Cash
$234.50M
Total debt
$673.10M
P/E
17.53
P/S
2.28
Market cap
$8.67B
Annual revenue$3.83B
FY2016FY2025
Annual net income$546.20M
FY2016FY2025
Annual free cash flow$546.00M
FY2016FY2025

AOS revenue and earnings growth

AOS revenueQ3 2026$940.50M

Quarter YoY
-0.2%
QoQ
-6.4%
FY YoY
+0.3%
5Y CAGR
+5.8%

AOS revenue was $940.50M in fiscal Q3 2026 (ended Sep 30, 2026), down 0.2% from a year earlier and down 6.4% from the prior quarter. For the full fiscal 2025 it was $3.83B, up 0.3% from fiscal 2024. Compound annual growth was +5.8% over 5 years. It rose in 6 of the last 9 fiscal years.

AOS net incomeQ3 2026$126.30M

Quarter YoY
-4.3%
QoQ
+1.1%
FY YoY
+2.4%
5Y CAGR
+9.6%
10Y CAGR
+6.8%

AOS net income was $126.30M in fiscal Q3 2026 (ended Sep 30, 2026), down 4.3% from a year earlier and up 1.1% from the prior quarter. For the full fiscal 2025 it was $546.20M, up 2.4% from fiscal 2024. Compound annual growth was +9.6% over 5 years and +6.8% over 10 years. It rose in 5 of the last 10 fiscal years.

AOS EPSQ3 2026$0.93

Quarter YoY
-1.1%
QoQ
+2.2%
FY YoY
+6.1%
5Y CAGR
+12.7%
10Y CAGR
+9.3%

AOS diluted EPS was $0.93 in fiscal Q3 2026 (ended Sep 30, 2026), down 1.1% from a year earlier and up 2.2% from the prior quarter. For the full fiscal 2025 it was $3.85, up 6.1% from fiscal 2024. Compound annual growth was +12.7% over 5 years and +9.3% over 10 years.

AOS free cash flowQ3 2026$162.90M

Quarter YoY
-32.3%
QoQ
+42.4%
FY YoY
+15.2%
5Y CAGR
+1.6%
10Y CAGR
+6.9%

AOS free cash flow was $162.90M in fiscal Q3 2026 (ended Sep 30, 2026), down 32.3% from a year earlier and up 42.4% from the prior quarter. For the full fiscal 2025 it was $546.00M, up 15.2% from fiscal 2024. Compound annual growth was +1.6% over 5 years and +6.9% over 10 years. It rose in 7 of the last 10 fiscal years.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$3.83B$3.82B$3.85B$3.75B$3.54B$2.90B$2.99B$3.19B$3.00B$2.69B
Cost of revenue$2.34B$2.36B$2.37B$2.42B$2.23B$1.79B$1.81B$1.88B$1.76B$1.57B
Gross profit$1.49B$1.46B$1.48B$1.33B$1.31B$1.11B$1.18B$1.31B$1.23B$1.11B
Research and development$95.00M$101.70M$97.50M$89.00M$94.20M$80.70M$87.90M$94.00M$86.40M$80.10M
Selling, general and admin$759.40M$739.30M$727.40M$670.90M$701.40M$660.30M$715.60M$753.80M$722.80M$662.50M
Operating income$728.60M$707.70M$745.50M$362.00M$682.00M$503.20M$529.10M$613.40M$577.90M$515.00M
Interest expense$13.50M$6.70M$12.00M$9.40M$4.30M$7.30M$11.00M$8.40M$10.10M$7.30M
Pre-tax income$715.10M$701.00M$733.50M$223.70M$625.60M$443.90M$472.10M$557.80M$520.80M$462.50M
Income tax$168.90M$167.40M$176.90M-$12.00M$138.50M$99.00M$102.10M$113.60M$224.30M$136.00M
Net income$546.20M$533.60M$556.60M$235.70M$487.10M$344.90M$370.00M$444.20M$296.50M$326.50M
EPS, basic$3.87$3.65$3.71$1.52$3.05$2.13$2.24$2.60$1.72$1.87
EPS, diluted$3.85$3.63$3.69$1.51$3.02$2.12$2.22$2.58$1.70$1.85
Diluted shares141.9M147.1M151.0M155.8M161.3M162.6M166.7M172.2M174.6M176.8M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$174.50M$239.60M$339.90M$391.20M$443.30M$573.10M$374.00M$259.70M$346.60M$330.40M
Short-term investments$18.70M$36.50M$23.50M$90.60M$188.10M$116.50M$177.40M$385.30M$473.40M$424.20M
Receivables$582.30M$541.40M$596.00M$581.20M$634.40M$585.00M$589.50M$647.30M$592.70M$518.70M
Inventory$479.30M$532.10M$497.40M$516.40M$447.70M$300.10M$303.00M$304.70M$297.00M$251.10M
Current assets$1.29B$1.39B$1.50B$1.63B$1.75B$1.62B$1.50B$1.64B$1.77B$1.56B
Goodwill$710.60M$761.70M$633.40M$619.70M$627.80M$546.80M$546.00M$513.00M$516.70M$491.50M
Total assets$3.14B$3.24B$3.21B$3.33B$3.47B$3.16B$3.06B$3.07B$3.20B$2.89B
Current liabilities$862.50M$897.20M$945.30M$934.20M$1.12B$886.30M$766.50M$785.30M$793.80M$765.60M
Short-term debt$42.30M$10.00M$10.00M$10.00M$6.80M$6.80M$6.80M$0$7.50M$7.20M
Long-term debt$112.70M$183.20M$117.30M$334.50M$189.90M$106.40M$277.20M$221.40M$402.90M$316.40M
Total debt$155.00M$193.20M$127.30M$344.50M$196.70M$113.20M$284.00M$221.40M$410.40M$323.60M
Total liabilities$1.28B$1.36B$1.37B$1.58B$1.64B$1.31B$1.39B$1.35B$1.55B$1.38B
Shareholders' equity$1.86B$1.88B$1.84B$1.75B$1.83B$1.85B$1.67B$1.72B$1.64B$1.51B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$616.80M$581.80M$670.30M$391.40M$641.10M$562.10M$456.20M$448.90M$326.40M$446.60M
Capital expenditures$70.80M$108.00M$72.60M$70.30M$75.10M$56.80M$64.40M$85.20M$94.20M$80.70M
Free cash flow$546.00M$473.80M$597.70M$321.10M$566.00M$505.30M$391.80M$363.70M$232.20M$365.90M
Investing cash flow-$53.00M-$267.10M-$24.10M$8.10M-$349.90M$11.80M$33.90M-$12.70M-$158.10M-$300.20M
Financing cash flow-$633.10M-$408.40M-$684.70M-$430.80M-$421.00M-$374.80M-$375.80M-$523.10M-$152.10M-$139.60M
Dividends paid$195.70M$190.40M$183.50M$177.20M$170.10M$158.70M$149.20M$130.10M$96.90M$84.20M
Share repurchases$400.80M$305.80M$306.50M$403.50M$366.50M$56.70M$287.70M$202.60M$139.10M$135.20M
Depreciation and amortization$85.10M$78.80M$78.30M$76.90M$77.90M$80.00M$78.30M$71.90M$70.10M$65.10M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY0.3%-0.9%2.6%6.1%22.2%-3.3%-6.1%6.4%11.6%-
Net income growth, YoY2.4%-4.1%136.1%-51.6%41.2%-6.8%-16.7%49.8%-9.2%15.4%
EPS growth, YoY6.1%-1.6%144.4%-50.0%42.5%-4.5%-14.0%51.8%-8.1%17.1%
Gross margin38.8%38.1%38.5%35.4%37.0%38.3%39.5%41.0%41.1%41.5%
Operating margin19.0%18.5%19.3%9.6%19.3%17.4%17.7%19.2%19.3%19.2%
Net margin14.3%14.0%14.4%6.3%13.8%11.9%12.4%13.9%9.9%12.2%
Free cash flow margin14.3%12.4%15.5%8.6%16.0%17.5%13.1%11.4%7.7%13.6%
Return on equity29.4%28.3%30.2%13.5%26.6%18.7%22.2%25.9%18.0%21.6%
Return on assets17.4%16.5%17.3%7.1%14.0%10.9%12.1%14.5%9.3%11.3%
Current ratio1.501.551.591.751.571.831.962.092.232.04
Debt to equity0.080.100.070.200.110.060.170.130.250.21

Source: XBRL data A.O. Smith Corporation files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported May 6, 2013; 2-for-1, first reported Nov 8, 2016.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

AOS peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
AOS$3.80B-0.7%$494.60M13.0%$8.67B
GE$52.58B+19.6%$9.10B17.3%$334.02B
GEV$44.04B+16.9%$10.37B23.5%$204.89B
SONY¥12.48T+3.7%-¥326.87B-2.6%$159.16B
EMR$18.64B+4.8%$2.58B13.8%$90.56B
SN$7.26B-$844.85M11.6%$31.42B
OTIS$15.13B+5.8%$1.56B10.3%$30.06B
KN$666.10M+16.1%$71.70M10.8%$2.65B
WHR$14.56B-6.4%-$123.00M-0.8%$2.01B

AOS FAQ

9 questions
  • What is AOS revenue?
    A.O. Smith Corporation (AOS) reported $3.80B of revenue for the twelve months ended Sep 30, 2026. That is down 0.7% from the year before. Revenue for fiscal 2025 was $3.83B.
  • Is AOS profitable?
    Yes. A.O. Smith Corporation earned $494.60M in net income for the twelve months ended Sep 30, 2026, a net margin of 13.0%.
  • How much cash and debt does AOS have?
    A.O. Smith Corporation reported $234.50M in cash and cash equivalents and $673.10M of debt on its most recent balance sheet in SEC filings.
  • How fast is AOS revenue growing?
    A.O. Smith Corporation's revenue changed +0.3% in fiscal 2025, to $3.83B. Its compound annual growth rate was +5.8% over 5 years.
  • What is AOS gross margin?
    A.O. Smith Corporation's gross profit was $1.47B on $3.80B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 38.6%.
  • What is AOS free cash flow?
    A.O. Smith Corporation generated $561.70M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $612.50M less capital expenditures.
  • What is AOS earnings per share?
    Diluted earnings per share were $3.58 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did AOS last report financial results?
    The latest statements here come from A.O. Smith Corporation's 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this AOS financial data come from?
    Quantisnow builds these statements from the structured XBRL data A.O. Smith Corporation files with the SEC. It is provided for information only and is not investment advice.