AAON, Inc. (AAON)
Industrials · NMS · US
Fundamentals
Valuation and ratings
AAON, Inc. trades at USD113.20, which is 51% above the USD55.05 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 45 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 79.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About AAON, Inc.
AAON, Inc., together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls. The company markets and sells its products to retail, manufacturing, educational, lodging, supermarket, data centers, medical and pharmaceutical, and other commercial industries. It sells its products through a network of independent manufacturer representative organizations and internal sales force, as well as online. AAON, Inc. was incorporated in 1987 and is headquartered in Tulsa, Oklahoma.
AAON passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
7 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Impax Asset Management, Impax Asset Management Group plc$118.85M · 0.8% of book
- Ken Griffin, CITADEL ADVISORS LLC$31.06M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$23.17M · 0.0% of book
- Francois Rochon, Giverny Capital Inc.$16.70M · 0.6% of book
- Marshall Wace, MARSHALL WACE, LLP$3.02M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is AAON, Inc. (AAON) undervalued?
Against our discounted cash flow estimate of USD55.05, AAON at USD113.20 is 51% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own AAON?
7 of the institutions we track reported a position in AAON in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is AAON's P/E ratio?
AAON trades at 79.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.