What is A.O. Smith Corporation's earnings per share (EPS)?

A.O. Smith Corporation (AOS) reported diluted earnings per share of $3.85 for fiscal year 2025. This represents a 6.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

A.O. Smith Corporation (AOS) Financials

AOS

Trailing 12 months to June 30, 2026

Revenue $3.8B +0.4% YoY

Net Income $500.3M -3.5% YoY

EPS (Diluted) $3.60 0.0% YoY

Free Cash Flow $639.4M +29.3% YoY

Market Cap $7.7B as of Oct 5, 2026

Price / Sales 2.0x on $3.8B revenue, trailing 12 months to June 30, 2026

Price / Earnings 15.5x on $500.3M net income, trailing 12 months to June 30, 2026

Price / Book 4.2x on $1.8B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 30, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AOS SEC filings page.

A.O. Smith Corporation (AOS) reported $3.8B in revenue over the twelve months to Jun 30, 2026, up 0.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AOS FY2025 2026-10-03

Stable sales convert into cash through high margins, while low leverage accompanies substantial shareholder distributions.

FY2024's weaker free cash flow coincided with heavier capital spending, while FY2025's recovery came as reinvestment normalized. With FY2025 operating cash flow at $617M and net income at $546M, earnings converted into cash; capital spending, rather than accounting quality, explains most recent cash-flow volatility.

Revenue stayed near $3.8B across FY2023–FY2025 while gross margin reached 38.8% in FY2025, indicating stable economics without volume growth. Operating margin nevertheless softened, consistent with overhead absorbing some of the gross-profit benefit.

Total liabilities declined to $1.28B in FY2025 while debt-to-equity was 0.1x, so the balance sheet relies relatively little on borrowing. The 1.5x current ratio shows short-term assets still exceeded short-term obligations, although liquidity narrowed from FY2023's 1.6x.

Financial Health Signals

Financial Health Score 68/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of A.O. Smith Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

A.O. Smith Corporation has an operating margin of 19.0%, meaning the company retains $19 of operating profit per $100 of revenue. This strong profitability earns a score of 81/100, reflecting efficient cost management and pricing power. This is up from 18.5% the prior year.

Growth

A.O. Smith Corporation's revenue grew a modest 0.3% year-over-year to $3.8B. This slow but positive growth earns a score of 29/100.

Leverage

A.O. Smith Corporation carries a low D/E ratio of 0.06, meaning only $0.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

A.O. Smith Corporation's current ratio of 1.50 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

A.O. Smith Corporation converts 14.3% of revenue into free cash flow ($546.0M). This strong cash generation earns a score of 76/100.

Returns

A.O. Smith Corporation earns a strong 29.4% return on equity (ROE), meaning it generates $29 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 90/100. This is up from 28.3% the prior year.

Altman Z-Score Safe

7.52

A.O. Smith Corporation scores 7.52, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

7/8

A.O. Smith Corporation passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.13x

For every $1 of reported earnings, A.O. Smith Corporation generates $1.13 in operating cash flow ($616.8M OCF vs $546.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

53.97x

A.O. Smith Corporation earns $53.97 in operating income for every $1 of interest expense ($728.6M vs $13.5M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.0B

YoY-0.7%

QoQ+6.2%

5Y CAGR+3.2%

10Y CAGR+4.2%

A.O. Smith Corporation generated $1.0B in revenue in Q2 2026. This represents a decrease of 0.7% from the same quarter a year earlier. Against the prior quarter it is up 6.2%.

EBITDA

$190.7M

YoY-15.9%

QoQ+2.7%

5Y CAGR+0.8%

A.O. Smith Corporation's EBITDA was $190.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 15.9% from the same quarter a year earlier. Against the prior quarter it is up 2.7%.

Net Income

$124.9M

YoY-17.9%

QoQ+5.8%

5Y CAGR+1.1%

10Y CAGR+3.7%

A.O. Smith Corporation reported $124.9M in net income in Q2 2026. This represents a decrease of 17.9% from the same quarter a year earlier. Against the prior quarter it is up 5.8%.

EPS (Diluted)

$0.91

YoY-15.0%

QoQ+7.1%

5Y CAGR+4.5%

10Y CAGR+6.4%

A.O. Smith Corporation earned $0.91 per diluted share (EPS) in Q2 2026. This represents a decrease of 15.0% from the same quarter a year earlier. Against the prior quarter it is up 7.1%.

Cash & Balance Sheet

Free Cash Flow

$114.4M

YoY-6.6%

QoQ-3.8%

5Y CAGR+8.0%

10Y CAGR+0.4%

A.O. Smith Corporation generated $114.4M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 6.6% from the same quarter a year earlier. Against the prior quarter it is down 3.8%.

Cash & Debt

$181.3M

YoY+1.9%

QoQ-2.1%

5Y CAGR-16.4%

10Y CAGR-4.5%

A.O. Smith Corporation held $181.3M in cash against $598.0M in long-term debt as of Q2 2026.

Dividends Per Share

$0.36

YoY+5.9%

QoQ0.0%

5Y CAGR+6.7%

10Y CAGR+11.6%

A.O. Smith Corporation paid $0.36 per share in dividends in Q2 2026. This represents an increase of 5.9% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

Diluted avg 138M

A.O. Smith Corporation had a weighted average of 138M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Margins & Returns

Gross Margin

38.6%

YoY-0.7pp

QoQ-0.1pp

5Y change+1.2pp

10Y change-3.9pp

A.O. Smith Corporation's gross margin was 38.6% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Operating Margin

16.5%

YoY-3.9pp

QoQ-0.6pp

5Y change-2.5pp

A.O. Smith Corporation's operating margin was 16.5% in Q2 2026, reflecting core business profitability. This is down 3.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.

Net Margin

12.4%

YoY-2.6pp

QoQ0.0pp

5Y change-1.3pp

10Y change-0.6pp

A.O. Smith Corporation's net profit margin was 12.4% in Q2 2026, showing the share of revenue converted to profit. This is down 2.6 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.

Return on Equity

6.8%

YoY-1.5pp

QoQ+0.5pp

5Y change+0.3pp

10Y change+0.9pp

A.O. Smith Corporation's ROE was 6.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.

Capital Allocation

Share Buybacks

$111.1M

YoY-15.0%

QoQ+116.6%

5Y CAGR-3.3%

10Y CAGR+7.9%

A.O. Smith Corporation spent $111.1M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 15.0% from the same quarter a year earlier. Against the prior quarter it is up 116.6%.

Capital Expenditures

$10.0M

YoY-41.5%

QoQ-4.8%

5Y CAGR-6.0%

10Y CAGR-5.9%

A.O. Smith Corporation invested $10.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 41.5% from the same quarter a year earlier. Against the prior quarter it is down 4.8%.

R&D Spending

Not reported for Q2 2026.

AOS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AOS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$3.8B	$3.8B+0.3%	$3.8B-0.9%	$3.9B+2.6%	$3.8B+6.1%	$3.5B+22.2%	$2.9B-3.3%	$3.0B-6.1%	$3.2B+6.4%	$3.0B+11.6%	$2.7B+5.9%	$2.5B+7.7%	$2.4B+9.4%	$2.2B+11.1%	$1.9B+13.4%	$1.7B
Cost of Revenue	$2.3B	$2.3B-0.8%	$2.4B-0.3%	$2.4B-2.3%	$2.4B+8.8%	$2.2B+24.7%	$1.8B-1.4%	$1.8B-3.7%	$1.9B+6.7%	$1.8B+12.3%	$1.6B+2.9%	$1.5B+2.0%	$1.5B+8.5%	$1.4B+7.2%	$1.3B+7.5%	$1.2B
Gross Profit	$1.5B	$1.5B+2.1%	$1.5B-1.9%	$1.5B+11.7%	$1.3B+1.4%	$1.3B+18.3%	$1.1B-6.1%	$1.2B-9.6%	$1.3B+5.9%	$1.2B+10.6%	$1.1B+10.3%	$1.0B+17.5%	$859.3M+11.0%	$773.8M+18.7%	$652.0M+27.2%	$512.6M
R&D Expenses	N/A	$95.0M-6.6%	$101.7M+4.3%	$97.5M+9.6%	$89.0M-5.5%	$94.2M+16.7%	$80.7M-8.2%	$87.9M-6.5%	$94.0M+8.8%	$86.4M+7.9%	$80.1M+8.7%	$73.7M+8.5%	$67.9M+17.5%	$57.8M+11.8%	$51.7M+21.1%	$42.7M
SG&A Expenses	$777.1M	$759.4M+2.7%	$739.3M+1.6%	$727.4M+8.4%	$670.9M-4.3%	$701.4M+6.2%	$660.3M-7.7%	$715.6M-5.1%	$753.8M+4.3%	$722.8M+9.1%	$662.5M+8.5%	$610.7M+6.7%	$572.1M+9.1%	$524.5M+16.4%	$450.5M+20.8%	$372.8M
Operating Income	$666.3M	$728.6M+3.0%	$707.7M-5.1%	$745.5M+105.9%	$362.0M-46.9%	$682.0M+35.5%	$503.2M-4.9%	$529.1M-13.7%	$613.4M+6.1%	$577.9M+12.2%	$515.0M+13.7%	$452.9M+31.2%	$345.3M+15.1%	$299.9M+15.6%	$259.4M+32.0%	$196.5M
EBITDA	N/A	$813.7M+3.5%	$786.5M-4.5%	$823.8M+87.7%	$438.9M-42.2%	$759.9M+30.3%	$583.2M-4.0%	$607.4M-11.4%	$685.3M+5.8%	$648.0M+11.7%	$580.1M+12.4%	$515.9M+27.4%	$405.1M+12.7%	$359.6M+14.5%	$314.0M+29.0%	$243.5M
Interest Expense	$21.2M	$13.5M+101.5%	$6.7M-44.2%	$12.0M+27.7%	$9.4M+118.6%	$4.3M-41.1%	$7.3M-33.6%	$11.0M+31.0%	$8.4M-16.8%	$10.1M+38.4%	$7.3M-1.4%	$7.4M+29.8%	$5.7M0.0%	$5.7M-38.0%	$9.2M-1.1%	$9.3M
Income Tax	$144.8M	$168.9M+0.9%	$167.4M-5.4%	$176.9M+1574.2%	-$12.0M-108.7%	$138.5M+39.9%	$99.0M-3.0%	$102.1M-10.1%	$113.6M-49.4%	$224.3M+64.9%	$136.0M+13.7%	$119.6M+51.6%	$78.9M+18.3%	$66.7M-6.3%	$71.2M+41.6%	$50.3M
Net Income	$500.3M	$546.2M+2.4%	$533.6M-4.1%	$556.6M+136.1%	$235.7M-51.6%	$487.1M+41.2%	$344.9M-6.8%	$370.0M-16.7%	$444.2M+49.8%	$296.5M-9.2%	$326.5M+15.4%	$282.9M+36.1%	$207.8M+22.5%	$169.7M+6.9%	$158.7M-48.1%	$305.7M
EPS (Basic)	N/A	$3.87+6.0%	$3.65-1.6%	$3.71+144.1%	$1.52-50.2%	$3.05+43.2%	$2.13-4.9%	$2.24-13.8%	$2.60+51.2%	$1.72-8.0%	$1.87+17.6%	$1.59+38.3%	$1.15-37.5%	$1.84+7.0%	$1.72-48.0%	$3.31
EPS (Diluted)	$3.60	$3.85+6.1%	$3.63-1.6%	$3.69+144.4%	$1.51-50.0%	$3.02+42.5%	$2.12-4.5%	$2.22-14.0%	$2.58+51.8%	$1.70-8.1%	$1.85+17.1%	$1.58+38.6%	$1.14	$1.83+7.0%	$1.71-47.9%	$3.28
Diluted Shares (Avg)	N/A	142M-3.5%	147M-2.6%	151M-3.1%	156M-3.4%	161M-0.8%	163M-2.5%	167M-3.2%	172M-1.4%	175M-1.3%	177M-1.2%	179M-1.6%	182M	93M-0.3%	93M0.0%	93M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$1.0B-0.7%	$945.6M-1.9%	$912.5M0.0%	$942.5M+4.4%	$1.0B-1.3%	$963.9M-1.5%	$912.4M-7.7%	$902.6M-3.7%
Cost of Revenue	$616.5M+0.4%	$579.9M-1.5%	$562.1M-2.1%	$578.0M+2.2%	$614.2M-2.2%	$588.5M-0.9%	$574.3M-7.1%	$565.3M-2.8%
Gross Profit	$387.8M-2.3%	$365.7M-2.6%	$350.4M+3.6%	$364.5M+8.1%	$397.1M+0.3%	$375.4M-2.4%	$338.1M-8.6%	$337.3M-5.3%
SG&A Expenses	$197.7M+3.3%	$203.9M+5.9%	$186.6M+2.5%	$188.9M+7.0%	$191.3M+1.5%	$192.6M+0.2%	$182.0M-1.6%	$176.6M+1.0%
Operating Income	$166.1M-19.4%	$161.8M-12.1%	$163.0M+10.5%	$175.4M+10.9%	$206.2M-1.1%	$184.0M-5.0%	$147.5M+12.6%	$158.1M-18.2%
EBITDA	$190.7M-15.9%	$185.7M-9.3%	$185.3M+11.1%	$197.0M+10.4%	$226.7M-0.6%	$204.7M-4.0%	$166.8M+9.9%	$178.4M-16.1%
Interest Expense	$8.1M+76.1%	$7.1M+144.8%	$2.4M0.0%	$3.6M+140.0%	$4.6M+155.6%	$2.9M+190.0%	$2.4M+118.2%	$1.5M-37.5%
Income Tax	$33.1M-33.0%	$36.7M-17.5%	$35.2M-0.6%	$39.8M+9.0%	$49.4M-2.0%	$44.5M-1.3%	$35.4M-10.6%	$36.5M-11.0%
Net Income	$124.9M-17.9%	$118.0M-13.6%	$125.4M+14.3%	$132.0M+9.9%	$152.2M-2.6%	$136.6M-7.5%	$109.7M-20.1%	$120.1M-11.3%
EPS (Basic)	$0.91-15.0%	$0.85-10.5%	$0.90+20.0%	$0.94+14.6%	$1.070.0%	$0.95-5.0%	$0.75-18.5%	$0.82-8.9%
EPS (Diluted)	$0.91-15.0%	$0.85-10.5%	$0.90+18.4%	$0.94+14.6%	$1.07+0.9%	$0.95-5.0%	$0.76-17.4%	$0.82-8.9%
Diluted Shares (Avg)	138M-3.2%	139M-3.6%	N/A	141M-4.0%	142M-3.5%	144M-2.6%	N/A	147M-3.0%

Not reported in any period shown, so not listed: R&D Expenses.

AOS Balance Sheet

AOS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$3.1B-3.0%	$3.2B+0.8%	$3.2B-3.6%	$3.3B-4.1%	$3.5B+9.9%	$3.2B+3.4%	$3.1B-0.4%	$3.1B-3.9%	$3.2B+10.6%	$2.9B+10.0%	$2.6B+5.2%	$2.5B+4.5%	$2.4B+4.9%	$2.3B-3.0%	$2.3B
Current Assets	$1.3B-7.3%	$1.4B-7.2%	$1.5B-8.2%	$1.6B-6.8%	$1.8B+8.3%	$1.6B+7.8%	$1.5B-8.4%	$1.6B-7.3%	$1.8B+13.1%	$1.6B+11.3%	$1.4B+6.4%	$1.3B+9.4%	$1.2B+8.2%	$1.1B-7.8%	$1.2B
Cash & Equivalents	$174.5M-27.2%	$239.6M-29.5%	$339.9M-13.1%	$391.2M-11.8%	$443.3M-22.6%	$573.1M+53.2%	$374.0M+44.0%	$259.7M-25.1%	$346.6M+4.9%	$330.4M+2.1%	$323.6M+1.3%	$319.4M-16.1%	$380.7M+42.6%	$266.9M-42.4%	$463.4M
Short-Term Investments	$18.7M-48.8%	$36.5M+55.3%	$23.5M-74.1%	$90.6M-51.8%	$188.1M+61.5%	$116.5M-34.3%	$177.4M-54.0%	$385.3M-18.6%	$473.4M+11.6%	$424.2M+31.9%	$321.6M+44.5%	$222.5M+111.3%	$105.3M-46.3%	$196.0M	$0
Inventory	$479.3M-9.9%	$532.1M+7.0%	$497.4M-3.7%	$516.4M+15.3%	$447.7M+49.2%	$300.1M-1.0%	$303.0M-0.6%	$304.7M+2.6%	$297.0M+18.3%	$251.1M+12.7%	$222.9M+7.0%	$208.3M+7.7%	$193.4M+18.4%	$163.4M-3.0%	$168.4M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$710.6M-6.7%	$761.7M+20.3%	$633.4M+2.2%	$619.7M-1.3%	$627.8M+14.8%	$546.8M+0.1%	$546.0M+6.4%	$513.0M-0.7%	$516.7M+5.1%	$491.5M+16.8%	$420.9M-1.8%	$428.8M-1.1%	$433.5M-0.4%	$435.4M+0.4%	$433.8M
Total Liabilities	$1.3B-5.3%	$1.4B-0.9%	$1.4B-13.6%	$1.6B-3.5%	$1.6B+25.1%	$1.3B-5.7%	$1.4B+2.7%	$1.4B-12.8%	$1.6B+12.9%	$1.4B+15.9%	$1.2B+4.7%	$1.1B+6.7%	$1.1B-2.0%	$1.1B-14.1%	$1.3B
Current Liabilities	$862.5M-3.9%	$897.2M-5.1%	$945.3M+1.2%	$934.2M-16.5%	$1.1B+26.2%	$886.3M+15.6%	$766.5M-2.4%	$785.3M-1.1%	$793.8M+3.7%	$765.6M+17.2%	$653.2M+7.9%	$605.2M+2.4%	$590.9M+16.7%	$506.3M-1.2%	$512.3M
Non-Current Liabilities	$422.3M-8.1%	$459.3M+8.3%	$424.2M-34.8%	$650.4M+24.3%	$523.4M+22.8%	$426.1M-31.8%	$624.7M+9.8%	$569.2M-25.0%	$758.7M+24.4%	$610.1M+14.3%	$533.7M+0.9%	$528.8M+12.1%	$471.9M-18.4%	$578.4M-23.0%	$750.9M
Long-Term Debt	$112.7M-38.5%	$183.2M+56.2%	$117.3M-64.9%	$334.5M+76.1%	$189.9M+78.5%	$106.4M-61.6%	$277.2M+25.2%	$221.4M-45.0%	$402.9M+27.3%	$316.4M+34.0%	$236.1M+12.4%	$210.1M+18.2%	$177.7M-21.1%	$225.1M-49.2%	$443.0M
Total Equity	$1.9B-1.4%	$1.9B+2.1%	$1.8B+5.5%	$1.7B-4.6%	$1.8B-0.9%	$1.8B+10.9%	$1.7B-2.9%	$1.7B+4.4%	$1.6B+8.8%	$1.5B+4.8%	$1.4B+4.4%	$1.4B+4.0%	$1.3B+11.3%	$1.2B+10.0%	$1.1B
Retained Earnings	$4.0B+9.7%	$3.6B+10.5%	$3.3B+12.9%	$2.9B+2.1%	$2.8B+12.6%	$2.5B+8.0%	$2.3B+10.5%	$2.1B+17.6%	$1.8B+12.3%	$1.6B+17.9%	$1.4B+19.0%	$1.1B+15.6%	$982.2M+14.9%	$855.1M+17.2%	$729.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$3.6B+12.3%	$3.7B+11.7%	$3.1B-3.0%	$3.2B+0.5%	$3.2B+1.5%	$3.3B+2.7%	$3.2B+0.8%	$3.2B-1.4%
Current Assets	$1.4B+0.1%	$1.4B-3.8%	$1.3B-7.3%	$1.3B-6.8%	$1.4B-6.3%	$1.4B-2.7%	$1.4B-7.2%	$1.4B-6.1%
Cash & Equivalents	$181.3M+1.9%	$185.2M+7.1%	$174.5M-27.2%	$152.7M-30.4%	$177.9M-17.7%	$173.0M-31.2%	$239.6M-29.5%	$219.3M-22.0%
Short-Term Investments	$0	$18.7M-31.3%	$18.7M-48.8%	$20.1M-44.6%	$0-100.0%	$27.2M-47.2%	$36.5M+55.3%	$36.3M-40.3%
Inventory	$482.7M-7.0%	$488.5M-8.3%	$479.3M-9.9%	$507.3M-8.6%	$519.3M-4.7%	$532.6M+2.0%	$532.1M+7.0%	$554.9M+6.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$915.2M+28.3%	$919.9M+30.1%	$710.6M-6.7%	$710.0M+8.9%	$713.6M+9.7%	$707.1M+8.5%	$761.7M+20.3%	$651.7M+3.4%
Total Liabilities	$1.8B+28.7%	$1.8B+25.5%	$1.3B-5.3%	$1.3B+7.2%	$1.4B+8.9%	$1.4B+8.6%	$1.4B-0.9%	$1.2B-6.1%
Current Liabilities	$871.7M+3.4%	$878.1M-0.5%	$862.5M-3.9%	$852.5M+1.0%	$843.0M-3.4%	$882.1M-0.1%	$897.2M-5.1%	$844.2M-5.7%
Non-Current Liabilities	$930.9M+66.9%	$894.3M+68.6%	$422.3M-8.1%	$473.7M+20.4%	$557.8M+34.9%	$530.5M+27.2%	$459.3M+8.3%	$393.3M-6.8%
Long-Term Debt	$598.0M+110.4%	$574.2M+121.0%	$112.7M-38.5%	$166.8M+52.1%	$284.2M+117.9%	$259.8M+136.8%	$183.2M+56.2%	$109.7M-8.3%
Total Equity	$1.8B-0.2%	$1.9B+1.2%	$1.9B-1.4%	$1.8B-3.8%	$1.8B-3.4%	$1.9B-1.4%	$1.9B+2.1%	$1.9B+1.8%
Retained Earnings	$4.1B+8.0%	$4.0B+9.0%	$4.0B+9.7%	$3.9B+9.5%	$3.8B+9.4%	$3.7B+9.8%	$3.6B+10.5%	$3.5B+11.8%

Not reported in any period shown, so not listed: Accounts Receivable.

AOS Cash Flow Statement

AOS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$692.3M	$616.8M+6.0%	$581.8M-13.2%	$670.3M+71.3%	$391.4M-38.9%	$641.1M+14.1%	$562.1M+23.2%	$456.2M+1.6%	$448.9M+37.5%	$326.4M-26.9%	$446.6M+27.0%	$351.7M+33.2%	$264.0M-5.6%	$279.6M+94.4%	$143.8M+145.0%	$58.7M
Depreciation & Amortization	N/A	$85.1M+8.0%	$78.8M+0.6%	$78.3M+1.8%	$76.9M-1.3%	$77.9M-2.6%	$80.0M+2.2%	$78.3M+8.9%	$71.9M+2.6%	$70.1M+7.7%	$65.1M+3.3%	$63.0M+5.4%	$59.8M+0.2%	$59.7M+9.3%	$54.6M+16.2%	$47.0M
Stock-Based Compensation	N/A	$13.8M-7.4%	$14.9M+29.6%	$11.5M+3.6%	$11.1M-6.7%	$11.9M-6.3%	$12.7M-4.5%	$13.3M+31.7%	$10.1M+2.0%	$9.9M+5.3%	$9.4M+6.8%	$8.8M-18.5%	$10.8M+2.9%	$10.5M+54.4%	$6.8M+19.3%	$5.7M
Capital Expenditures	$52.9M	$70.8M-34.4%	$108.0M+48.8%	$72.6M+3.3%	$70.3M-6.4%	$75.1M+32.2%	$56.8M-11.8%	$64.4M-24.4%	$85.2M-9.6%	$94.2M+16.7%	$80.7M+11.0%	$72.7M-15.6%	$86.1M-11.9%	$97.7M+39.8%	$69.9M+30.7%	$53.5M
Free Cash Flow	$639.4M	$546.0M+15.2%	$473.8M-20.7%	$597.7M+86.1%	$321.1M-43.3%	$566.0M+12.0%	$505.3M+29.0%	$391.8M+7.7%	$363.7M+56.6%	$232.2M-36.5%	$365.9M+31.1%	$279.0M+56.8%	$177.9M-2.2%	$181.9M+146.1%	$73.9M+1321.2%	$5.2M
Investing Cash Flow	-$523.0M	-$53.0M+80.2%	-$267.1M-1008.3%	-$24.1M-397.5%	$8.1M+102.3%	-$349.9M-3065.3%	$11.8M-65.2%	$33.9M+366.9%	-$12.7M+92.0%	-$158.1M+47.3%	-$300.2M	N/A	N/A	-$8.2M+90.6%	-$86.8M-169.1%	$125.6M
Financing Cash Flow	-$168.4M	-$633.1M-55.0%	-$408.4M+40.4%	-$684.7M-58.9%	-$430.8M-2.3%	-$421.0M-12.3%	-$374.8M+0.3%	-$375.8M+28.2%	-$523.1M-243.9%	-$152.1M-9.0%	-$139.6M	N/A	N/A	-$157.6M+37.8%	-$253.5M-258.2%	$160.2M
Dividends Paid	$198.0M	$195.7M+2.8%	$190.4M+3.8%	$183.5M+3.6%	$177.2M+4.2%	$170.1M+7.2%	$158.7M+6.4%	$149.2M+14.7%	$130.1M+34.3%	$96.9M+15.1%	$84.2M+24.2%	$67.8M+24.6%	$54.4M+27.7%	$42.6M+28.3%	$33.2M+19.9%	$27.7M
Share Buybacks	$311.9M	$400.8M+31.1%	$305.8M-0.2%	$306.5M-24.0%	$403.5M+10.1%	$366.5M+546.4%	$56.7M-80.3%	$287.7M+42.0%	$202.6M+45.7%	$139.1M+2.9%	$135.2M+5.5%	$128.1M+23.4%	$103.8M+40.8%	$73.7M+235.0%	$22.0M-6.4%	$23.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$124.4M-10.9%	$129.4M+234.4%	$183.1M-17.5%	$255.4M+30.4%	$139.6M+143.2%	$38.7M-63.7%	$221.9M-4.1%	$195.9M+9.6%
Depreciation & Amortization	$24.6M+20.0%	$23.9M+15.5%	$22.3M+15.5%	$21.6M+6.4%	$20.5M+4.6%	$20.7M+5.6%	$19.3M-7.2%	$20.3M+4.6%
Stock-Based Compensation	N/A	$6.6M+8.2%	N/A	N/A	N/A	$6.1M-26.5%	N/A	$2.3M+53.3%
Capital Expenditures	$10.0M-41.5%	$10.5M-50.7%	$17.6M-42.5%	$14.8M-54.5%	$17.1M-25.3%	$21.3M-3.2%	$30.6M+2.3%	$32.5M+75.7%
Free Cash Flow	$114.4M-6.6%	$118.9M+583.3%	$165.5M-13.5%	$240.6M+47.2%	$122.5M+255.1%	$17.4M-79.4%	$191.3M-5.0%	$163.4M+1.9%
Investing Cash Flow	$8.7M-3.3%	-$480.5M-4349.1%	-$16.3M+89.6%	-$34.9M+31.6%	$9.0M-18.9%	-$10.8M+84.8%	-$156.0M-2428.4%	-$51.0M+21.1%
Financing Cash Flow	-$137.7M+5.7%	$361.3M+479.9%	-$146.5M-260.0%	-$245.5M-70.5%	-$146.0M-41.6%	-$95.1M+21.1%	-$40.7M+77.9%	-$144.0M+31.3%
Dividends Paid	$49.6M+2.7%	$50.2M+2.0%	$50.6M+2.2%	$47.6M+1.9%	$48.3M+3.0%	$49.2M+4.0%	$49.5M+3.6%	$46.7M+3.5%
Share Buybacks	$111.1M-15.0%	$51.3M-57.5%	$65.4M-4.8%	$84.1M+0.2%	$130.7M+66.1%	$120.6M+61.9%	$68.7M-52.7%	$83.9M-8.6%

AOS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AOS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	38.8%+0.7pp	38.1%-0.4pp	38.5%+3.1pp	35.4%-1.6pp	37.0%-1.2pp	38.3%-1.2pp	39.5%-1.5pp	40.9%-0.2pp	41.1%-0.4pp	41.5%+1.7pp	39.8%+3.3pp	36.5%+0.5pp	35.9%+2.3pp	33.6%+3.6pp	30.0%
Operating Margin	19.0%+0.5pp	18.5%-0.8pp	19.4%+9.7pp	9.6%-9.6pp	19.3%+1.9pp	17.4%-0.3pp	17.7%-1.6pp	19.2%0.0pp	19.3%+0.1pp	19.2%+1.3pp	17.9%+3.2pp	14.7%+0.7pp	13.9%+0.5pp	13.4%+1.9pp	11.5%
Net Margin	14.3%+0.3pp	14.0%-0.5pp	14.4%+8.2pp	6.3%-7.5pp	13.8%+1.9pp	11.9%-0.5pp	12.4%-1.6pp	13.9%+4.0pp	9.9%-2.3pp	12.2%+1.0pp	11.2%+2.3pp	8.8%+0.9pp	7.9%-0.3pp	8.2%-9.7pp	17.9%
Return on Equity	29.4%+1.1pp	28.3%-1.9pp	30.2%+16.7pp	13.5%-13.1pp	26.6%+7.9pp	18.7%-3.5pp	22.2%-3.7pp	25.9%+7.8pp	18.0%-3.6pp	21.6%+2.0pp	19.6%+4.6pp	15.0%+2.3pp	12.8%-0.5pp	13.3%-14.9pp	28.1%
Return on Assets	17.4%+0.9pp	16.5%-0.8pp	17.3%+10.3pp	7.1%-6.9pp	14.0%+3.1pp	10.9%-1.2pp	12.1%-2.4pp	14.5%+5.2pp	9.3%-2.0pp	11.3%+0.5pp	10.8%+2.4pp	8.3%+1.2pp	7.1%+0.1pp	7.0%-6.0pp	13.0%
Current Ratio	1.50-0.1x	1.550.0x	1.59-0.2x	1.75+0.2x	1.57-0.3x	1.83-0.1x	1.96-0.1x	2.09-0.1x	2.23+0.2x	2.04-0.1x	2.150.0x	2.18+0.1x	2.04-0.2x	2.20-0.2x	2.36
Debt-to-Equity	0.060.0x	0.100.0x	0.06-0.1x	0.19+0.1x	0.100.0x	0.06-0.1x	0.170.0x	0.13-0.1x	0.240.0x	0.210.0x	0.160.0x	0.150.0x	0.13-0.1x	0.19-0.2x	0.41
Asset Turnover	1.220.0x	1.180.0x	1.20+0.1x	1.13+0.1x	1.02+0.1x	0.92-0.1x	0.98-0.1x	1.04+0.1x	0.940.0x	0.930.0x	0.960.0x	0.940.0x	0.900.0x	0.85+0.1x	0.73
FCF Margin	14.3%+1.9pp	12.4%-3.1pp	15.5%+7.0pp	8.6%-7.4pp	16.0%-1.5pp	17.4%+4.4pp	13.1%+1.7pp	11.4%+3.7pp	7.8%-5.9pp	13.6%+2.6pp	11.0%+3.5pp	7.5%-0.9pp	8.5%+4.6pp	3.8%+3.5pp	0.3%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	38.6%-0.7pp	38.7%-0.3pp	38.4%+1.3pp	38.7%+1.3pp	39.3%+0.6pp	39.0%-0.4pp	37.1%-0.4pp	37.4%-0.6pp
Operating Margin	16.5%-3.9pp	17.1%-2.0pp	17.9%+1.7pp	18.6%+1.1pp	20.4%0.0pp	19.1%-0.7pp	16.2%+2.9pp	17.5%-3.1pp
Net Margin	12.4%-2.6pp	12.5%-1.7pp	13.7%+1.7pp	14.0%+0.7pp	15.0%-0.2pp	14.2%-0.9pp	12.0%-1.9pp	13.3%-1.1pp
Return on Equity	6.8%-1.5pp	6.3%-1.1pp	6.8%+0.9pp	7.2%+0.9pp	8.3%+0.1pp	7.4%-0.5pp	5.8%-1.6pp	6.3%-0.9pp
Return on Assets	3.4%-1.3pp	3.2%-0.9pp	4.0%+0.6pp	4.2%+0.3pp	4.7%-0.2pp	4.2%-0.5pp	3.4%-0.9pp	3.8%-0.4pp
Current Ratio	1.59-0.1x	1.56-0.1x	1.50-0.1x	1.54-0.1x	1.65-0.1x	1.610.0x	1.550.0x	1.670.0x
Debt-to-Equity	0.32+0.2x	0.31+0.2x	0.060.0x	0.090.0x	0.15+0.1x	0.14+0.1x	0.100.0x	0.060.0x
Asset Turnover	0.280.0x	0.260.0x	0.290.0x	0.300.0x	0.310.0x	0.290.0x	0.280.0x	0.290.0x
FCF Margin	11.4%-0.7pp	12.6%+10.8pp	18.1%-2.8pp	25.5%+7.4pp	12.1%+8.7pp	1.8%-6.8pp	21.0%+0.6pp	18.1%+1.0pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
A.O. Smith Corporation AOS	FY2025	$3.8B	$546.2M	14.3%	$7.7B	68/100
Crane Company CR	FY2025	$2.3B	$366.6M	15.9%	$12.0B	56/100
GENERAC HOLDINGS INC GNRC	FY2025	$4.2B	$161.4M	3.8%	$12.8B	54/100
Nordson Corp NDSN	FY2025	$2.8B	$484.5M	17.3%	$18.6B	63/100
IDEX Corporation IEX	FY2025	$3.5B	$483.2M	14.0%	$17.2B	68/100
Graco Inc GGG	FY2025	$2.2B	$521.8M	23.3%	$12.6B	77/100

Where A.O. Smith Corporation Ranks

Frequently Asked Questions

What is A.O. Smith Corporation's annual revenue?

A.O. Smith Corporation (AOS) reported $3.8B in total revenue for fiscal year 2025. This represents a 0.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is A.O. Smith Corporation's revenue growing?

A.O. Smith Corporation (AOS) revenue grew by 0.3% year-over-year, from $3.8B to $3.8B in fiscal year 2025.

Is A.O. Smith Corporation profitable?

Yes, A.O. Smith Corporation (AOS) reported a net income of $546.2M in fiscal year 2025, with a net profit margin of 14.3%.

What is A.O. Smith Corporation's EBITDA?

A.O. Smith Corporation (AOS) had EBITDA of $813.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does A.O. Smith Corporation have?

As of fiscal year 2025, A.O. Smith Corporation (AOS) had $174.5M in cash and equivalents against $112.7M in long-term debt.

What is A.O. Smith Corporation's gross margin?

A.O. Smith Corporation (AOS) had a gross margin of 38.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is A.O. Smith Corporation's operating margin?

A.O. Smith Corporation (AOS) had an operating margin of 19.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is A.O. Smith Corporation's net profit margin?

A.O. Smith Corporation (AOS) had a net profit margin of 14.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does A.O. Smith Corporation pay dividends?

Yes, A.O. Smith Corporation (AOS) paid $1.38 per share in dividends during fiscal year 2025.

What is A.O. Smith Corporation's return on equity (ROE)?

A.O. Smith Corporation (AOS) has a return on equity of 29.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is A.O. Smith Corporation's free cash flow?

A.O. Smith Corporation (AOS) generated $546.0M in free cash flow during fiscal year 2025. This represents a 15.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is A.O. Smith Corporation's operating cash flow?

A.O. Smith Corporation (AOS) generated $616.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are A.O. Smith Corporation's total assets?

A.O. Smith Corporation (AOS) had $3.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are A.O. Smith Corporation's capital expenditures?

A.O. Smith Corporation (AOS) invested $70.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does A.O. Smith Corporation spend on research and development?

A.O. Smith Corporation (AOS) invested $95.0M in research and development during fiscal year 2025.

Does A.O. Smith Corporation buy back shares?

Yes, A.O. Smith Corporation (AOS) spent $400.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is A.O. Smith Corporation's current ratio?

A.O. Smith Corporation (AOS) had a current ratio of 1.50 as of fiscal year 2025, which is considered adequate.

What is A.O. Smith Corporation's debt-to-equity ratio?

A.O. Smith Corporation (AOS) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is A.O. Smith Corporation's return on assets (ROA)?

A.O. Smith Corporation (AOS) had a return on assets of 17.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is A.O. Smith Corporation's P/E ratio?

A.O. Smith Corporation (AOS) trades at 15.5x earnings, its market capitalization divided by net income of $500.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $7.7B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is A.O. Smith Corporation's price-to-sales ratio?

A.O. Smith Corporation (AOS) trades at 2.0x sales, its market capitalization divided by revenue of $3.8B revenue, trailing 12 months to June 30, 2026. The market capitalization is $7.7B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is A.O. Smith Corporation's Altman Z-Score?

A.O. Smith Corporation (AOS) has an Altman Z-Score of 7.52, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is A.O. Smith Corporation's Piotroski F-Score?

A.O. Smith Corporation (AOS) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are A.O. Smith Corporation's earnings high quality?

A.O. Smith Corporation (AOS) has an earnings quality ratio of 1.13x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can A.O. Smith Corporation cover its interest payments?

A.O. Smith Corporation (AOS) has an interest coverage ratio of 53.97x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is A.O. Smith Corporation?

A.O. Smith Corporation (AOS) scores 68 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.