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Smith AO Corporation (AOS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · Building Products · DATA UPDATED 2026-07-19

Smith AO Corporation (AOS) operates in the Building Products industry and is headquartered in Milwaukee, United States with about 11,500 employees. Its market capitalization is roughly $8 billion. In the fiscal year ended 2025-12-31, AOS reported $3.8B in revenue and $546M in net income.

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India.

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AOS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$3.8B	$3.8B	$3.8B	$3.9B	$3.8B	$3.5B	$2.9B	$3.0B	$3.2B	$3.0B	$2.7B	$2.5B	$2.4B	$2.2B	$1.9B	$1.7B	$1.5B	$1.4B	$2.3B	$2.3B	$2.2B
Gross Profit	$1.5B	$1.5B	$1.5B	$1.5B	$1.3B	$1.3B	$1.1B	$1.2B	$1.3B	$1.2B	$1.1B	$1.0B	$859M	$774M	$652M	$513M	$446M	$501M	$498M	$513M	$464M
Gross Margin %	38.8%	38.8%	38.1%	38.5%	35.4%	37.0%	38.3%	39.5%	40.9%	41.3%	41.7%	39.8%	36.5%	35.9%	33.6%	30.0%	29.9%	36.4%	21.6%	22.2%	21.5%
Operating Income (EBIT)	$707M	$728M	$717M	$757M	$659M	$610M	$446M	$467M	$552M	$520M	$460M	$399M	$287M	$249M	$202M	$140M	$57M	$90M	$140M	$150M	$140M
Operating Margin %	18.6%	19.0%	18.8%	19.7%	17.5%	17.2%	15.4%	15.6%	17.3%	17.4%	17.1%	15.7%	12.2%	11.6%	10.4%	8.2%	3.8%	6.5%	6.1%	6.5%	6.5%
Net Income	$528M	$546M	$534M	$557M	$236M	$487M	$345M	$370M	$444M	$296M	$326M	$283M	$208M	$170M	$163M	$306M	$112M	$81M	$82M	$88M	$76M
Net Margin %	13.8%	14.3%	14.0%	14.4%	6.3%	13.8%	11.9%	12.4%	13.9%	9.9%	12.2%	11.2%	8.8%	7.9%	8.4%	17.9%	7.5%	5.9%	3.5%	3.8%	3.5%
EBITDA	$795M	$792M	$786M	$824M	$310M	$708M	$531M	$561M	$638M	$601M	$535M	$473M	$352M	$302M	$298M	$218M	$121M	$198M	$196M	$194M	$191M
Earnings Per Share (EPS)	$3.75	$3.90	$3.63	$3.69	$1.51	$3.02	$2.12	$2.22	$2.58	$1.70	$1.85	$1.58	$1.14	$0.91	$0.87	$1.64	$0.60	$0.57	$0.45	$0.47	$0.41
Shares Outstanding (M)	139M	140M	147M	151M	156M	161M	163M	167M	172M	175M	177M	179M	182M	186M	186M	186M	185M	144M	182M	186M	186M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AOS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$946M	$912M	$942M	$1.0B	$964M	$912M	$903M	$1.0B
Gross Profit	$366M	$350M	$364M	$397M	$375M	$338M	$337M	$395M
Gross Margin %	38.7%	38.4%	38.7%	39.3%	39.0%	37.1%	37.4%	38.6%
Operating Income (EBIT)	$162M	$164M	$176M	$206M	$183M	$156M	$161M	$207M
Operating Margin %	17.1%	17.9%	18.6%	20.3%	19.0%	17.1%	17.8%	20.2%
Net Income	$118M	$125M	$132M	$152M	$137M	$110M	$120M	$156M
Net Margin %	12.5%	13.7%	14.0%	15.0%	14.2%	12.0%	13.3%	15.2%
EBITDA	$186M	$185M	$197M	$227M	$205M	$158M	$178M	$228M
Earnings Per Share (EPS)	$0.85	$0.90	$0.94	$1.06	$0.95	$0.75	$0.82	$1.06
Shares Outstanding (M)	139M	140M	140M	143M	144M	146M	147M	148M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AOS Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$708M	$617M	$582M	$670M	$391M	$641M	$562M	$456M	$449M	$326M	$447M	$344M	$264M	$280M	$144M	$55M	$125M	$268M	$107M	$190M	$141M
Capital Expenditures (CapEx)	$60M	$71M	$108M	$73M	$70M	$75M	$57M	$64M	$85M	$94M	$81M	$73M	$86M	$98M	$70M	$54M	$54M	$57M	$66M	$71M	$68M
Free Cash Flow (FCF)	$648M	$546M	$474M	$598M	$321M	$566M	$505M	$392M	$364M	$232M	$366M	$272M	$178M	$182M	$74M	$2M	$71M	$211M	$40M	$119M	$73M
FCF Margin %	17.0%	14.3%	12.4%	15.5%	8.6%	16.0%	17.4%	13.1%	11.4%	7.8%	13.6%	10.7%	7.5%	8.5%	3.8%	0.1%	4.8%	15.3%	1.8%	5.1%	3.4%
Dividends Paid	$197M	$196M	$190M	$184M	$177M	$170M	$159M	$149M	$130M	$97M	$84M	$68M	$54M	$43M	$33M	$28M	$25M	$21M	$22M	$22M	$20M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AOS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$129M	$183M	$255M	$140M	$39M	$222M	$196M	$57M
Capital Expenditures (CapEx)	$10M	$18M	$15M	$17M	$21M	$31M	$32M	$23M
Free Cash Flow (FCF)	$119M	$166M	$241M	$122M	$17M	$191M	$163M	$34M
FCF Margin %	12.6%	18.1%	25.5%	12.1%	1.8%	21.0%	18.1%	3.4%
Dividends Paid	$50M	$51M	$48M	$48M	$49M	$50M	$47M	$47M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AOS Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$3.6B	$3.1B	$3.2B	$3.2B	$3.3B	$3.5B	$3.2B	$3.1B	$3.1B	$3.2B	$2.9B	$2.6B	$2.5B	$2.4B	$2.3B	$2.3B	$2.1B	$1.9B	$1.9B	$1.9B	$1.8B
Cash & Cash Equivalents	$185M	$174M	$240M	$340M	$391M	$443M	$573M	$374M	$260M	$347M	$330M	$324M	$319M	$381M	$267M	$463M	$119M	$76M	$29M	$37M	$26M
Total Liabilities	$1.8B	$1.3B	$1.4B	$1.4B	$1.6B	$1.6B	$1.3B	$1.4B	$1.4B	$1.5B	$1.4B	$1.2B	$1.1B	$1.1B	$1.1B	$1.3B	$1.2B	$1.1B	$1.2B	$1.1B	$1.2B
Total Debt (Short + Long-Term)	$616M	$155M	$193M	$127M	$344M	$197M	$113M	$284M	$221M	$410M	$324M	$249M	$224M	$192M	$244M	$462M	$261M	$253M	$335M	$395M	$439M
Total Shareholders' Equity	$1.9B	$1.9B	$1.9B	$1.8B	$1.7B	$1.8B	$1.8B	$1.7B	$1.7B	$1.6B	$1.5B	$1.4B	$1.4B	$1.3B	$1.2B	$1.1B	$881M	$790M	$641M	$758M	$685M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive AOS viewer.

Other Companies in Building Products

CARR · Carrier Global — $57 billion
LII · Lennox International — $19 billion
MAS · Masco — $16 billion
ALLE · Allegion — $13 billion
BLDR · Builders FirstSource — $8 billion
TT · Trane Technologies — $106 billion
JCI · Johnson Controls — $87 billion

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