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

Balance Sheet

Assets, liabilities, and equity

27 accounts · 3 years

Total assets $3.1B

Total liabilities $1.3B

Shareholders equity $1.9B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$174.5M -27.2%	$239.6M -29.5%	$339.9M
Short Term Investments	$18.7M -48.8%	$36.5M 55.3%	$23.5M
Accounts Receivable	$582.3M 7.6%	$541.4M -9.2%	$596.0M
Inventory	$479.3M -9.9%	$532.1M 7.0%	$497.4M
Other Current Assets	$36.7M -15.2%	$43.3M -0.5%	$43.5M
Total Current Assets	$1.3B -7.3%	$1.4B -7.2%	$1.5B
Property,Plant and Equipment	$635.1M 1.0%	$628.7M 5.2%	$597.5M
Operating Lease Assets	$46.3M 41.2%	$32.8M -12.1%	$37.3M
Goodwill	$710.6M -6.7%	$761.7M 20.3%	$633.4M
Intangible Assets	$362.3M 12.8%	$321.1M -4.6%	$336.7M
Other Noncurrent Assets	$97.0M -5.6%	$102.8M -5.4%	$108.7M
Total Assets	$3.1B -3.0%	$3.2B 0.8%	$3.2B
Liabilities
Accounts Payable	$504.1M -14.4%	$588.7M -1.9%	$600.4M
Accrued Liabilities	$316.1M 5.9%	$298.5M -10.9%	$334.9M
Current Portion of Long Term Debt	$42.3M 323.0%	$10.0M 0.0%	$10.0M
Total Current Liabilities	$862.5M -3.9%	$897.2M -5.1%	$945.3M
Long Term Debt	$112.7M -38.5%	$183.2M 56.2%	$117.3M
Operating Lease Liabilities Noncurrent	$37.1M 57.9%	$23.5M -15.8%	$27.9M
Other Noncurrent Liabilities	$272.5M 7.9%	$252.6M -9.5%	$279.0M
Total Liabilities	$1.3B -5.3%	$1.4B -0.9%	$1.4B
Equity
Preferred Stock	$0	$0	$0
Additional Paid In Capital	$614.4M 2.2%	$601.3M 4.0%	$578.2M
Retained Earnings	$4.0B 9.7%	$3.6B 10.5%	$3.3B
Treasury Stock	$2.9B 16.1%	$2.5B 13.6%	$2.2B
Accumulated Other Comprehensive Income	$-98.6M 11.9%	$-111.9M -32.9%	$-84.2M
Total Stockholders Equity	$1.9B -1.4%	$1.9B 2.1%	$1.8B
Total Liabilitiesand Equity	$3.1B -3.0%	$3.2B 0.8%	$3.2B

Income Statement

Revenue, expense, and profitability

13 accounts · 3 years

Revenue $3.8B

Operating income Not reported

Net income $546.2M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$3.8B 0.3%	$3.8B -0.9%	$3.9B
Expenses Cost of Revenue	$2.3B -0.8%	$2.4B -0.3%	$2.4B
Other Income Expense Gross Profit	$1.5B 2.1%	$1.5B -1.9%	$1.5B
Expenses Selling,General and Administrative	$759.4M 2.7%	$739.3M 1.6%	$727.4M
Expenses Restructuring and Asset Impairment	$0 -100.0%	$17.6M -6.4%	$18.8M
Other Income Expense Interest Expense	$13.5M 101.5%	$6.7M -44.2%	$12.0M
Other Income Expense Other Income/expense	$600.0K -92.9%	$8.5M 23.2%	$6.9M
Other Income Expense Income Before Tax	$715.1M 2.0%	$701.0M -4.4%	$733.5M
Income Tax Income Tax Expense	$168.9M 0.9%	$167.4M -5.4%	$176.9M
net Income net Income	$546.2M 2.4%	$533.6M -4.1%	$556.6M
net Income Comprehensive Income	$559.5M 10.6%	$505.9M -8.8%	$554.8M
Earnings Per Share Basic Eps	$4 6.0%	$4 -1.6%	$4
Earnings Per Share Diluted Eps	$4 6.1%	$4 -1.6%	$4

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $616.8M

Investing cash flow $-53.0M

Financing cash flow $-633.1M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$546.2M 2.4%	$533.6M -4.1%	$556.6M
Operating Activities Depreciation and Amortization	$85.1M 8.0%	$78.8M 0.6%	$78.3M
Operating Activities Stock Based Compensation	$13.8M -7.4%	$14.9M 29.6%	$11.5M
Operating Activities Deferred Income Taxes	$8.9M 293.5%	$-4.6M -21.1%	$-3.8M
Operating Activities Changes In Operating Assets and Liabilities	$-37.2M 18.4%	$-45.6M -456.3%	$12.8M
Operating Activities Other Non Cash Items	$0 -100.0%	$4.7M -68.5%	$14.9M
Operating Activities net Cash From Operating Activities	$616.8M 6.0%	$581.8M -13.2%	$670.3M
Investing Activities Capital Expenditures	$-70.8M 34.4%	$-108.0M -48.8%	$-72.6M
Investing Activities Business Acquisitions	$0 100.0%	$-145.9M -768.5%	$-16.8M
Investing Activities Purchases of Investments	$-42.7M 42.1%	$-73.7M -16.8%	$-63.1M
Investing Activities Proceeds From Sale of Investments	$60.5M 0.0%	$60.5M -52.9%	$128.4M
Investing Activities net Cash From Investing Activities	$-53.0M 80.2%	$-267.1M -1008.3%	$-24.1M
Financing Activities Proceeds From Debt	$1.1B -1.2%	$1.1B 59.9%	$688.0M
Financing Activities Repayment of Debt	$-1.1B -9.2%	$-1.0B -13.7%	$-906.1M
Financing Activities Repurchase of Common Stock	$-400.8M -31.1%	$-305.8M 0.2%	$-306.5M
Financing Activities Dividends Paid	$-195.7M -2.8%	$-190.4M -3.8%	$-183.5M
Financing Activities Other Financing Activities	$1.0M -94.5%	$18.1M -22.6%	$23.4M
Financing Activities net Cash From Financing Activities	$-633.1M -55.0%	$-408.4M 40.4%	$-684.7M
Cash Reconciliation Effect of Exchange Rate On Cash	$4.2M 163.6%	$-6.6M 48.4%	$-12.8M
Cash Reconciliation net Change In Cash	$-65.1M 35.1%	$-100.3M -95.5%	$-51.3M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+38.8%	+38.1%	+38.5%
Operating margin	—	—	—
Net margin	+14.3%	+14.0%	+14.4%
FCF margin	+14.3%	+12.4%	+15.5%
Growth
Revenue CAGR (3y)	+0.7%	+2.6%	+10.0%
Returns
ROE	+29.4%	+28.3%	+30.2%
ROA	+17.4%	+16.5%	+17.3%
ROIC	—	—	—
Liquidity
Current ratio	1.50x	1.55x	1.59x
Quick ratio	0.88x	0.87x	0.99x
Leverage
D/E	0.69x	0.72x	0.74x
Interest coverage	—	—	—
Efficiency
Asset turnover	1.22x	1.18x	1.20x
Cash conversion cycle	+52d	+43d	+41d

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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