AAON FINANCIAL STATEMENTS

AAON Inc — balance sheet, income statement and cash flow trends

AAONAAON Inc

🇺🇸 USA · NASDAQ · Industrials · Building Products & Equipment

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue1.6 B $+28.3%

Gross Profit424.3 M $+8.5%

Operating Income168.2 M $-14.7%

EBITDA249.6 M $-6.2%

Net Income118.1 M $-25.6%

Peer Comparison· Building Products & Equipment

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
AAON	28.3%	26.2%	15.4%	7.3%
NIBE-B	0.3%	31.8%	15.4%	5.9%
SGO	-0.2%	27.2%	11.5%	4.5%
RWC	1.1%	37.4%	18.3%	8.3%
EGPRO	7.0%	38.1%	23.5%	10.0%
MEGMT	8.4%	8.0%	5.6%	6.8%
Industry median	5.1%	27.0%	12.2%	4.9%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
AAON	28.3%	26.2%	15.4%	7.3%
BLDR	-8.3%	29.9%	8.2%	2.0%
SPXC	17.4%	36.7%	21.6%	11.1%
AWI	9.7%	40.3%	37.0%	18.6%
WMS	5.0%	37.2%	28.5%	14.0%
OC	-9.9%	27.0%	7.1%	-5.4%
Industry median	5.1%	27.0%	12.2%	4.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity934.2 M $52%
Current Liabilities359.6 M $20%
Long-term Liabilities495.9 M $28%

Key Figures

YoY change

Total Assets1.8 B $+37.6%

Total Liabilities855.5 M $+76.6%

Total Equity934.2 M $+14.5%

Cash & ST Investments13 K $-98.7%

Total Debt450.9 M $+68.3%

Net Debt450.9 M $+69.0%

Peer Comparison· Building Products & Equipment

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
AAON	2.62	48.3%	1.81	52.2%
NIBE-B	1.60	72.0%	2.75	47.3%
SGO	1.27	72.2%	1.87	40.3%
RWC	2.59	39.6%	1.76	62.7%
EGPRO	1.41	8.0%	-0.17	53.9%
MEGMT	1.07	149.4%	3.44	28.1%
Industry median	1.54	57.7%	1.72	42.9%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
AAON	2.62	48.3%	1.81	52.2%
BLDR	1.76	132.2%	4.28	35.4%
SPXC	2.11	29.5%	1.02	58.9%
AWI	1.54	63.7%	0.80	45.0%
WMS	2.42	92.8%	1.80	42.9%
OC	1.24	165.3%	8.19	27.8%
Industry median	1.54	57.7%	1.72	42.9%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow43.7 M $-51.9%

Capital Expenditures189 M $-7.1%

Free Cash Flow-145.2 M $—

Dividends Paid-32.7 M $-218.2%

Peer Comparison· Building Products & Equipment

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
AAON	2.7%	-9.0%	11.7%	37.0%
NIBE-B	12.7%	8.7%	12.7%	216.9%
SGO	12.1%	7.0%	3.5%	272.6%
RWC	22.1%	19.2%	2.9%	266.1%
EGPRO	8.7%	8.1%	2.8%	87.3%
MEGMT	4.7%	-5.5%	9.4%	68.8%
Industry median	11.9%	7.6%	3.7%	107.3%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
AAON	2.7%	-9.0%	11.7%	37.0%
BLDR	7.9%	5.8%	2.1%	401.7%
SPXC	23.0%	16.4%	6.6%	207.7%
AWI	21.0%	15.0%	6.0%	113.1%
WMS	26.9%	18.7%	8.2%	192.1%
OC	17.1%	4.9%	12.2%	-315.4%
Industry median	11.9%	7.6%	3.7%	107.3%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.