AAON, Inc. (AAON)

AAON, Inc. Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	107.59	168.56	177.62	100.38	58.76
Depreciation & Amortization	79.36	62.92	46.79	35.43	30.42
Stock-Based Compensation	17.99	16.73	16.38	13.7	11.81
Other Adjustments	31.95	-6.31	-5.01	-10.61	4.34
Change in Receivables	-167.02	-10.04	-9.98	-56.31	-9.74
Changes in Inventories	-73.88	27.08	-16.23	-71.41	-45.96
Changes in Accounts Payable	52.9	16.96	-18.32	11.57	10.9
Changes in Accrued Expenses	31.87	13.26	15.09	16.95	-1.69
Changes in Income Taxes Payable	-23.33	-5.29	-11.3	18.2	-1.14
Changes in Unearned Revenue	66.59	2.99	-5.07	15.2	0.22
Changes in Other Operating Activities	-123.49	-94.33	-31.09	-11.77	3.26
Operating Cash Flow	0.53	192.53	158.9	61.32	61.18
Operating Cash Flow Growth	-99.72%	21.17%	159.13%	0.22%	-52.50%
Capital Expenditures	-190.56	-195.66	-104.29	-76.02	-55.36
Sale of Property, Plant & Equipment	0.05	0.03	0.13	0.01	0.02
Purchases of Intangible Assets	-14.33	-17.49	-5.2	-	-
Payments for Business Acquisitions	-	-	-	-0.25	-103.43
Other Investing Activities	12.44	0.05	0.05	0.05	0.05
Investing Cash Flow	-192.42	-213.08	-109.31	-76.21	-158.72
Short-Term Debt Issued	-	-	-	-	40
Net Short-Term Debt Issued (Repaid)	-	-	-	-	40
Long-Term Debt Issued	915.39	722.08	603.17	225.76	-
Long-Term Debt Repaid	-672.2	-601.09	-629.79	-194.75	-
Net Long-Term Debt Issued (Repaid)	243.19	120.99	-26.62	31	-
Issuance of Common Stock	17.14	31.86	33.26	23.14	21.15
Repurchase of Common Stock	-39.73	-108.07	-26.31	-13.76	-22.47
Net Common Stock Issued (Repurchased)	-22.58	-76.21	6.95	9.39	-1.32
Common Dividends Paid	-32.6	-26.08	-26.45	-22.92	-19.95
Other Financing Activities	-1.4	-0.66	-0.4	-0.12	-
Financing Cash Flow	186.61	18.03	-46.51	17.36	18.74
Net Cash Flow	-5.28	-2.51	3.07	2.46	-78.8
Free Cash Flow	-190.03	-3.13	54.6	-14.71	5.82
Free Cash Flow Growth	-	-	-	-	-90.46%
FCF Margin	-13.18%	-0.26%	4.67%	-1.65%	1.09%
Free Cash Flow Per Share	-2.29	-0.04	0.66	-0.18	0.07
Levered Free Cash Flow	170.24	117.49	26.59	69.52	39.41
Unlevered Free Cash Flow	-58.33	-1.44	56.66	40.31	-0.53

Updated Mar 2, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q