Overview
SMITH A O CORP
Latest 10-K: FY2025, filed Feb 10, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $3.83B
- 0.3%YoYup from FY2024
- TotalRevenue
- Gross profit
- $1.49B
- 2.1%YoYup from FY2024
- GrossProfit
- Operating income
- $0.73B
- 3.0%YoYup from FY2024
- OperatingIncome
- Net income
- $0.55B
- 2.4%YoYup from FY2024
- NetIncome
- Diluted EPS
- $3.85
- 6.1%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 141.9M
- 3.5%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- SMITH A O CORP reported revenue of $3.83B for fiscal 2025, up 0.3% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 1 of the last 5 fiscal years.
Profitability
- Operating margin was 19.0% and net margin was 14.3%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $3.85, up 6.1% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $3.83B0.3%up Benchmark median 6.4% | $3.82B0.9%down Benchmark median 4.5% | $3.85B2.6%up Benchmark median 4.8% | $3.75B6.1%up Benchmark median 10.3% | $3.54B22.2%up Benchmark median 13.8% | 2.0% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $1.49B2.1%up Benchmark median 6.8% | $1.46B1.9%down Benchmark median 5.5% | $1.48B11.7%up Benchmark median 5.2% | $1.33B1.4%up Benchmark median 8.3% | $1.31B18.3%up Benchmark median 15.7% | 3.2% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $728.60M3.0%up Benchmark median 7.3% | $707.70M5.1%down Benchmark median 7.4% | $745.50M105.9%up Benchmark median 4.9% | $362.00M46.9%down Benchmark median 7.5% | $682.00M35.5%up Benchmark median 23.5% | 1.7% Benchmark median 7.2% |
| Net Income | $546.20M2.4%up Benchmark median 4.8% | $533.60M4.1%down Benchmark median 5.7% | $556.60M136.1%up Benchmark median 1.9% | $235.70M51.6%down Benchmark median 1.3% | $487.10M41.2%up Benchmark median 33.9% | 2.9% Benchmark median 4.1% |
| EPS (Diluted) | $3.856.1%up Benchmark median 6.2% | $3.631.6%down Benchmark median 7.9% | $3.69144.4%up Benchmark median 1.9% | $1.5150.0%down Benchmark median 1.5% | $3.0242.5%up Benchmark median 34.8% | 6.3% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $3.14B3.0%down Benchmark median 5.6% | $3.24B0.8%up Benchmark median 3.4% | $3.21B3.6%down Benchmark median 4.1% | $3.33B4.1%down Benchmark median 2.2% | $3.47B9.9%up Benchmark median 6.7% | -2.5% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $1.28B5.3%down Benchmark median 6.4% | $1.36B0.9%down Benchmark median 1.9% | $1.37B13.6%down Benchmark median 2.9% | $1.58B3.5%down Benchmark median 2.0% | $1.64B25.1%up Benchmark median 5.2% | -6.0% Benchmark median 4.4% |
| Stockholders' Equity | $1.86B1.4%down Benchmark median 6.8% | $1.88B2.1%up Benchmark median 5.4% | $1.84B5.5%up Benchmark median 7.3% | $1.75B4.6%down Benchmark median 2.5% | $1.83B0.9%down Benchmark median 9.0% | 0.4% Benchmark median 6.1% |
| Cash & Equivalents | $174.50M27.2%down Benchmark median 5.2% | $239.60M29.5%down Benchmark median 1.9% | $339.90M13.1%down Benchmark median 6.7% | $391.20M11.8%down Benchmark median -8.6% | $443.30M22.6%down Benchmark median -2.9% | -20.8% Benchmark median 2.0% |
| Total Debt | $155.00M19.8%down Benchmark median 2.1% | $193.20M51.8%up Benchmark median 0.2% | $127.30M63.0%down Benchmark median 0.3% | $344.50M75.1%up Benchmark median 0.1% | $196.70M73.8%up Benchmark median -0.1% | -5.8% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $616.80M6.0%up Benchmark median 6.3% | $581.80M13.2%down Benchmark median 4.8% | $670.30M71.3%up Benchmark median 9.9% | $391.40M38.9%down Benchmark median -0.7% | $641.10M14.1%up Benchmark median 10.7% | -1.0% Benchmark median 7.0% |
| Capital Expenditures | $70.80M34.4%down Benchmark median 5.4% | $108.00M48.8%up Benchmark median 2.8% | $72.60M3.3%up Benchmark median 11.3% | $70.30M6.4%down Benchmark median 14.0% | $75.10M32.2%up Benchmark median 8.1% | -1.5% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $546.00M15.2%up Benchmark median 7.3% | $473.80M20.7%down Benchmark median 6.1% | $597.70M86.1%up Benchmark median 8.8% | $321.10M43.3%down Benchmark median -11.3% | $566.00M12.0%up Benchmark median 10.2% | -0.9% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
5.8%
Wall Street
on net earnings
FY2024 5.3%
5.8%
Value investor
on free cash flow
FY2024 4.7%
Gap Same: Both views read the same
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 17.4×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
8.6%
Wall Street
on EBITDA
FY2024 7.9%
7.7%
Value investor
on EBIT
FY2024 7.1%
Gap −0.9 pts: Value-investor figure 0.9 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 11.6×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
19.6%
Wall Street
on book equity
FY2024 18.8%
8.3%
Value investor
on tangible book
FY2024 8.0%
Gap −11.3 pts: Value-investor figure 11.3 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 5.1×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
29.2%
Wall Street
ROE: net income ÷ equity
FY2024 28.6%
26.0%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 25.9%
Gap −3.2 pts: Value-investor figure 3.2 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
21.2%
Wall Street
EBITDA margin
FY2024 20.6%
14.3%
Value investor
Free-cash-flow margin
FY2024 12.4%
Gap −6.9 pts: Value-investor figure 6.9 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.50×
Wall Street
Current ratio
FY2024 1.55×
0.88×
Value investor
Quick ratio, inventory excluded
FY2024 0.90×
Gap −0.62×: Value-investor figure 0.62 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
5.25×
Wall Street
EBITDA ÷ total debt
FY2024 4.07×
3.52×
Value investor
FCF ÷ total debt
FY2024 2.45×
Gap −1.73×: Value-investor figure 1.73 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net cashValue investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
60.3×
Wall Street
EBITDA ÷ interest
FY2024 117.4×
54.0×
Value investor
EBIT ÷ interest
FY2024 105.6×
Gap −6.3×: Value-investor figure 6.3 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on AOS yet.
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Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/AOS
Valuein. (2026, October 31). SMITH A O CORP (AOS) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/AOS
@misc{valuein_aos_2026,
author = {{Valuein}},
title = {SMITH A O CORP (AOS) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/AOS}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 10, 2026 · accession 0000091142-26-000008
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point-in-time · survivorship-free · every number traceable to its SEC filing
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