A. O. Smith

Industrials Building Products Milwaukee, Wisconsin Last filing Feb 10, 2026 · FY2025

                    Revenue
                    FY2025
                
$3.8B
                    3y CAGR +0.7%
                    
                    P27
                    
                    +0.3%
                    
                    Net income
                    FY2025
                
$546.2M
                    Net margin +14.3%
                    
                    P64
                    
                    +2.4%
                    
                    Total assets
                    FY2025
                
$3.1B
                    ROA +17.4%
                    
                    P91
                    
                    -3.0%
                    
                    Operating cash flow
                    FY2025
                
$616.8M
                    FCF margin +14.3%
                    
                    P59
                    
                    +6.0%

18 yrs · FY2008–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 10 years

Total assets $3.1B

Total liabilities $1.3B

Shareholders equity $1.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	4.6%	6.3%	8.8%	10.4%	12.5%	19.8%	12.5%	8.1%	11.6%	12.3%
Short Term Investments	0.5%	1.0%	0.6%	2.4%	5.3%	4.0%	5.9%	12.1%	15.8%	15.8%
Accounts Receivable	15.2%	14.2%	15.5%	15.5%	17.9%	20.2%	19.7%	20.3%	19.8%	19.3%
Inventory	12.5%	13.9%	12.9%	13.8%	12.7%	10.4%	10.1%	9.6%	9.9%	9.3%
Other Current Assets	1.0%	1.1%	1.1%	1.4%	1.1%	1.5%	1.9%	1.3%	1.9%	1.4%
Total Current Assets	33.7%	36.5%	38.9%	43.5%	49.5%	55.9%	50.1%	51.4%	59.0%	58.2%
Property,Plant and Equipment	16.6%	16.5%	15.5%	15.7%	17.1%	18.7%	18.2%	16.9%	17.6%	17.2%
Operating Lease Assets	1.2%	0.9%	1.0%	0.8%	0.9%	1.4%	1.6%	—	—	—
Goodwill	18.6%	19.9%	16.4%	16.5%	17.7%	18.9%	18.2%	16.1%	17.2%	18.3%
Intangible Assets	9.5%	8.4%	8.7%	9.3%	10.3%	11.2%	11.3%	9.2%	10.3%	11.5%
Other Noncurrent Assets	2.5%	2.7%	2.8%	2.9%	2.5%	3.1%	2.7%	2.7%	2.5%	2.5%
Total Assets	82.1%	84.9%	83.4%	88.8%	98.2%	109.2%	102.2%	96.3%	106.7%	107.6%
Liabilities
Accounts Payable	13.2%	15.4%	15.6%	16.7%	21.1%	20.6%	17.0%	17.1%	17.9%	19.7%
Accrued Liabilities	8.3%	7.8%	8.7%	7.9%	10.3%	9.8%	8.4%	7.6%	8.4%	8.6%
Current Portion of Long Term Debt	1.1%	0.3%	0.3%	0.3%	0.2%	0.2%	0.2%	0.0%	0.3%	0.3%
Total Current Liabilities	22.5%	23.5%	24.5%	24.9%	31.6%	30.6%	25.6%	24.6%	26.5%	28.5%
Long Term Debt	2.9%	4.8%	3.0%	8.9%	5.4%	3.7%	9.3%	6.9%	13.4%	11.8%
Operating Lease Liabilities Noncurrent	1.0%	0.6%	0.7%	0.6%	0.6%	1.2%	1.3%	—	—	—
Other Noncurrent Liabilities	7.1%	6.6%	7.2%	7.8%	8.8%	9.9%	10.3%	10.9%	11.9%	10.9%
Total Liabilities	33.5%	35.5%	35.5%	42.2%	46.4%	45.3%	46.5%	42.5%	51.8%	51.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—
Additional Paid In Capital	16.0%	15.7%	15.0%	14.8%	15.4%	18.0%	17.0%	15.6%	16.2%	17.8%
Retained Earnings	103.2%	94.3%	84.6%	76.9%	79.9%	86.7%	77.6%	66.0%	59.7%	59.3%
Treasury Stock	75.8%	65.5%	57.2%	50.8%	42.5%	39.9%	37.2%	25.9%	20.9%	18.2%
Accumulated Other Comprehensive Income	-2.6%	-2.9%	-2.2%	-2.2%	-9.4%	-11.1%	-11.6%	-11.0%	-10.0%	-13.5%
Total Stockholders Equity	48.5%	49.3%	47.9%	46.6%	51.8%	63.8%	55.7%	53.9%	54.9%	56.4%
Total Liabilitiesand Equity	82.1%	84.9%	83.4%	88.8%	98.2%	109.2%	102.2%	96.3%	106.7%	107.6%

Income Statement

Revenue, expense, and profitability

13 accounts · 10 years

Revenue $3.8B

Operating income Not reported

Net income $546.2M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	61.2%	61.9%	61.5%	64.6%	63.0%	61.7%	60.5%	59.0%	58.9%	58.5%
Other Income Expense Gross Profit	38.8%	38.1%	38.5%	35.4%	37.0%	38.3%	39.5%	41.0%	41.1%	41.5%
Expenses Selling,General and Administrative	19.8%	19.4%	18.9%	17.9%	19.8%	22.8%	23.9%	23.6%	24.1%	24.7%
Expenses Restructuring and Asset Impairment	0.0%	0.5%	0.5%	0.0%	0.0%	0.3%	0.0%	—	—	—
Other Income Expense Interest Expense	0.4%	0.2%	0.3%	0.3%	0.1%	0.3%	0.4%	0.3%	0.3%	0.3%
Other Income Expense Other Income/expense	0.0%	0.2%	0.2%	-11.3%	0.6%	0.4%	0.6%	0.5%	0.7%	0.7%
Other Income Expense Income Before Tax	18.7%	18.4%	19.0%	6.0%	17.7%	15.3%	15.8%	17.5%	17.4%	17.2%
Income Tax Income Tax Expense	4.4%	4.4%	4.6%	-0.3%	3.9%	3.4%	3.4%	3.6%	7.5%	5.1%
net Income net Income	14.3%	14.0%	14.4%	6.3%	13.8%	11.9%	12.4%	13.9%	9.9%	12.2%
net Income Comprehensive Income	14.6%	13.3%	14.4%	12.9%	13.5%	12.8%	12.4%	12.3%	12.0%	10.3%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $616.8M

Investing cash flow $-53.0M

Financing cash flow $-633.1M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	14.3%	14.0%	14.4%	6.3%	13.8%	11.9%	12.4%	13.9%	9.9%	12.2%
Operating Activities Depreciation and Amortization	2.2%	2.1%	2.0%	2.0%	2.2%	2.8%	2.6%	2.3%	2.3%	2.4%
Operating Activities Stock Based Compensation	0.4%	0.4%	0.3%	0.3%	0.3%	0.4%	0.4%	0.3%	0.3%	0.3%
Operating Activities Deferred Income Taxes	0.2%	-0.1%	-0.1%	0.0%	0.0%	—	—	0.0%	2.7%	0.0%
Operating Activities Changes In Operating Assets and Liabilities	-1.0%	-1.2%	0.3%	-4.8%	1.8%	4.3%	-0.2%	-2.4%	-4.4%	1.7%
Operating Activities Other Non Cash Items	0.0%	0.1%	0.4%	6.6%	0.0%	0.0%	—	—	—	—
Operating Activities net Cash From Operating Activities	16.1%	15.2%	17.4%	10.4%	18.1%	19.4%	15.2%	14.1%	10.9%	16.6%
Investing Activities Capital Expenditures	-1.8%	-2.8%	-1.9%	-1.9%	-2.1%	-2.0%	-2.2%	-2.7%	-3.1%	-3.0%
Investing Activities Business Acquisitions	0.0%	-3.8%	-0.4%	-0.2%	-5.9%	0.0%	-3.6%	0.0%	-1.4%	-3.4%
Investing Activities Purchases of Investments	-1.1%	-1.9%	-1.6%	-2.4%	-5.2%	-5.4%	-9.1%	-16.4%	-19.5%	-21.0%
Investing Activities Proceeds From Sale of Investments	1.6%	1.6%	3.3%	4.7%	3.3%	7.8%	16.0%	18.7%	18.8%	16.2%
Investing Activities net Cash From Investing Activities	-1.4%	-7.0%	-0.6%	0.2%	-9.9%	0.4%	1.1%	-0.4%	-5.3%	-11.2%
Financing Activities Proceeds From Debt	28.4%	28.8%	17.9%	—	—	—	2.1%	—	—	—
Financing Activities Repayment of Debt	-29.4%	-27.0%	-23.5%	4.0%	2.4%	-5.9%	—	-5.9%	2.9%	2.8%
Financing Activities Repurchase of Common Stock	-10.5%	-8.0%	-8.0%	-10.7%	-10.4%	-2.0%	-9.6%	-6.4%	-4.6%	-5.0%
Financing Activities Dividends Paid	-5.1%	-5.0%	-4.8%	-4.7%	-4.8%	-5.5%	-5.0%	-4.1%	-3.2%	-3.1%
Financing Activities Other Financing Activities	0.0%	0.5%	0.6%	-0.0%	0.9%	0.4%	-0.1%	-0.0%	-0.1%	0.2%
Financing Activities net Cash From Financing Activities	-16.5%	-10.7%	-17.8%	-11.5%	-11.9%	-12.9%	-12.6%	-16.4%	-5.1%	-5.2%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.2%	-0.3%	-0.6%	0.0%	0.0%	—	—	—	—
Cash Reconciliation net Change In Cash	-1.7%	-2.6%	-1.3%	-1.4%	-3.7%	6.9%	3.8%	-2.7%	0.5%	0.3%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+38.8%	+38.1%	+38.5%	+35.4%	+37.0%	+38.3%	+39.5%	+41.0%	+41.1%	+41.5%
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+14.3%	+14.0%	+14.4%	+6.3%	+13.8%	+11.9%	+12.4%	+13.9%	+9.9%	+12.2%
FCF margin	+14.3%	+12.4%	+15.5%	+8.6%	+16.0%	+17.5%	+13.1%	+11.4%	+7.7%	+13.6%
Growth
Revenue CAGR (3y)	+0.7%	+2.6%	+10.0%	+7.8%	+3.5%	-1.1%	+3.7%	+7.9%	+8.3%	+7.6%
Returns
ROE	+29.4%	+28.3%	+30.2%	+13.5%	+26.6%	+18.7%	+22.2%	+25.9%	+18.0%	+21.5%
ROA	+17.4%	+16.5%	+17.3%	+7.1%	+14.0%	+10.9%	+12.1%	+14.5%	+9.3%	+11.3%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	1.50x	1.55x	1.59x	1.75x	1.57x	1.83x	1.96x	2.09x	2.23x	2.04x
Quick ratio	0.88x	0.87x	0.99x	1.04x	0.96x	1.31x	1.26x	1.15x	1.18x	1.11x
Leverage
D/E	0.69x	0.72x	0.74x	0.91x	0.90x	0.71x	0.83x	0.79x	0.94x	0.91x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	1.22x	1.18x	1.20x	1.13x	1.02x	0.92x	0.98x	1.04x	0.94x	0.93x
Cash conversion cycle	+52d	+43d	+41d	+40d	+17d	+13d	+30d	+28d	+23d	+6d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No multiples without a share count — this filer reports no diluted or basic weighted-average shares.

Notes

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