Aaon (AAON) FY2023 results: revenue $1.2 billion, up 31.5% on the year
Aaon, Inc. (AAON) reported revenue of $1.2 billion for fiscal 2023, the year ended 31 December 2023, up 31.5% on the year before. Net income was $178 million, up 77.0%, and diluted earnings per share $2.13. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$1.2 billion
+31.5% on the year
FY2016FY2023
Operating margin
19.5%
14.3% a year earlier
FY2016FY2023
Net income
$178 million
+77.0% on the year
FY2016FY2023
Diluted EPS
$2.13
+71.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
159
61.3
61.2
+159.1%
Capital expenditure
104
54.0
55.4
+93.1%
Free cash flow
54.6
7.3
5.8
+648.6%
Free cash flow margin
4.7%
0.8%
1.1%
Cash from investing
-109
-76.2
-159
Cash from financing
-46.5
17.4
18.7
Depreciation and amortisation
46.5
35.1
30.3
+32.4%
Share-based compensation
16.4
13.7
11.8
+19.6%
Dividends paid
26.4
22.9
19.9
+15.3%
Dividend per share
$0.32
$0.29
$0.25
+11.6%
Diluted shares, weighted
83m
81m
81m
+2.6%
Shares outstanding at period end
82m
80m
79m
+1.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
735
561
466
+31.1%
Debt
38.3
71.0
40.0
-46.0%
Operating lease liabilities
10.2
6.0
15.5
+70.2%
Finance lease liabilities
n/a
n/a
0.0
Other liabilities
158
176
129
-10.5%
Total liabilities and equity
941
814
650
+15.7%
Fixed assets
370
305
258
+21.4%
Goodwill
81.9
81.9
85.7
0.0%
Intangible assets
68.1
64.6
70.1
+5.3%
Cash and equivalents
0.3
5.5
2.9
-94.7%
Receivables
138
127
70.8
+8.6%
Inventory
214
199
130
+7.3%
Other assets
69.6
31.1
32.4
+123.8%
Total assets
941
814
650
+15.7%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.