SMITH A O CORP
About SMITH A O CORP
A.O. Smith manufactures a broad lineup of water heaters, boilers, and water treatment products. The company has two reporting segments: North America (80% of sales) and rest of world (20% of sales). A.O. Smith is the leading manufacturer of water heaters in North America for the residential and commercial markets, with approximately 36% and 52% market share, respectively. Residential water heaters account for most of North American sales and are distributed equally through wholesale and retail channels. Most of A.O. Smith's international revenue is from China, a market the company entered in the mid-1990s.
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Financial summary
- Revenue FY2025
- $3.8B
- Net income
- $546.2M
- Total assets
- $3.1B
- Market cap
- $7.9B
- Gross margin
- 38.1%
- Operating margin
- 18.5%
- Net margin
- 14.0%
Source: SEC EDGAR · updated Jun 7, 2026
Revenue & profit trend
Financial statements
Income statement
- Revenue
- $3.8B
- Cost of revenue
- $2.4B
- Gross profit
- $1.5B
- Operating expenses
- $748.4M
- Operating income
- $707.7M
- Income tax
- $167.4M
- Net income
- $533.6M
- EPS (basic)
- $3.65
- EPS (diluted)
- $3.63
Balance sheet
- Total assets
- $3.2B
- Current assets
- $1.4B
- Total liabilities
- $1.4B
- Current liabilities
- $897.2M
- Shareholders’ equity
- $1.9B
Cash flow
- Operating cash flow
- $581.8M
- Investing cash flow
- -$267.1M
- Financing cash flow
- -$408.4M
- Net cash flow
- -$100.3M
Statements via Polygon.io (SEC filings)
15-minute delayed · data by Polygon.io
Past year
52-week range
- Market cap
- $7.9B
- P/E ratio
- 15.8
- EPS (diluted)
- $3.63
- Dividend yield
- 2.51%
- Shares outstanding
- 137.5M
- Open
- —
- Day range
- –
- Prev close
- —
- Volume
- —
- IPO date
- Sep 30, 1983
Market data by Polygon.io · prices are 15-minute delayed
At a glance
- Profitable — net income of $546.2M in FY2025.
- Revenue grew 32% from FY2020 to FY2024.
- Gross margin of 38.1%, net margin 14.0%.
- Trading 29% below its 52-week high.
- Pays a dividend yielding about 2.51% annually.
- Valued at a price-to-earnings (P/E) ratio of 15.8.
Automatically generated from public filings and market data. Informational only — not investment advice or a recommendation to buy or sell any security.
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