AAON Inc
Engineer-/configure-to-order capital-equipment manufacturer. Premium made-to-order HVAC sold through independent manufacturer's reps into non-residential end markets, plus custom data-center cooling (BASX) sold direct to hyperscalers/colocation operators. Revenue is project- and backlog-driven equipment sales (not subscription or aftermarket-led); margin is highly levered to factory utilization and product mix.
The thesis on this name
State of Data-Center Power
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-03-02. The audited primary-source spine — not financial advice.
Revenue — annual (GAAP)
Margins & balance sheet — FY’25
Where our coverage leans
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Full financial intelligence for AAON Inc
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range