Here are the 10-K annual reports from A.O. Smith Corporation (AOS) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow AOS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AOS filings page.
A. O. Smith Corporation reports 2025 results with net sales of $3,830.2 million, up slightly from 2024, and net earnings of $546.2 million, reflecting improved profitability.
Gross margin rose to 38.8% as price increases and stronger commercial water heater and boiler volumes offset higher input costs and weaker residential demand. North America segment sales reached $2,984.2 million with a 24.4% margin, while Rest of World sales were $880.4 million with margins improving to 8.7%, despite softer China volumes.
The company generated $616.8 million in operating cash flow and repurchased 5.94 million shares for $400.8 million. It closed the Pureit acquisition in 2024 and agreed to buy Leonard Valve for $470 million, expected to add about $70 million of 2026 sales. Management guides 2026 sales growth of 2–5% and EPS of $3.85–$4.15, supported by continued boiler growth and capital returns.