Aaon (AAON) FY2020 results: revenue $515 million, up 9.6% on the year
Aaon, Inc. (AAON) reported revenue of $515 million for fiscal 2020, the year ended 31 December 2020, up 9.6% on the year before. Net income was $79 million, up 47.1%, and diluted earnings per share $0.99. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$515 million
+9.6% on the year
FY2013FY2020
Operating margin
19.8%
14.3% a year earlier
FY2013FY2020
Net income
$79 million
+47.1% on the year
FY2013FY2020
Diluted EPS
$0.99
+46.1% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
515
469
434
+9.6%
Cost of revenue
359
350
330
+2.5%
Gross profit
156
119
104
+30.5%
Gross margin
30.3%
25.4%
23.9%
Research and development
17.4
14.8
13.5
+17.6%
Selling, general and administrative
60.5
52.1
48.2
+16.2%
Operating income
102
67.0
55.4
+52.0%
Operating margin
19.8%
14.3%
12.8%
Pre-tax income
102
67.0
55.5
+52.1%
Income tax
23.0
13.3
13.2
+72.4%
Effective tax rate
22.5%
19.9%
23.7%
Net income
79.0
53.7
42.3
+47.1%
Net margin
15.4%
11.4%
9.8%
Diluted EPS
$0.99
$0.68
$0.53
+46.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
129
97.9
54.9
+31.5%
Capital expenditure
67.8
37.2
37.3
+82.4%
Free cash flow
61.0
60.8
17.6
+0.4%
Free cash flow margin
11.9%
12.9%
4.1%
Cash from investing
-61.3
-37.0
-34.6
Cash from financing
-29.6
-18.5
-39.7
Depreciation and amortisation
25.6
22.8
17.7
+12.6%
Share-based compensation
11.3
11.8
7.9
-3.9%
Dividends paid
19.8
16.6
16.7
+19.3%
Dividend per share
$0.25
$0.21
$0.21
+18.8%
Diluted shares, weighted
80m
79m
79m
+0.8%
Shares outstanding at period end
78m
78m
78m
+0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
351
290
249
+20.9%
Debt
0.0
6.3
0.0
Operating lease liabilities
1.4
n/a
n/a
Other liabilities
96.8
75.0
58.8
+29.1%
Total liabilities and equity
449
371
308
+20.9%
Fixed assets
223
178
163
+25.4%
Goodwill
3.2
3.2
3.2
0.0%
Intangible assets
0.0
0.3
0.5
-86.0%
Securities held for sale or to maturity
0.0
0.0
0.0
Cash and equivalents
79.0
26.8
2.0
+194.9%
Receivables
47.4
67.4
54.1
-29.7%
Inventory
82.2
73.6
77.6
+11.7%
Other assets
13.8
22.0
7.8
-37.5%
Total assets
449
371
308
+20.9%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.