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 · 5 years

Total assets $3.1B

Total liabilities $1.3B

Shareholders equity $1.9B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$174.5M -27.2%	$239.6M -29.5%	$339.9M -13.1%	$391.2M -11.8%	$443.3M
Short Term Investments	$18.7M -48.8%	$36.5M 55.3%	$23.5M -74.1%	$90.6M -51.8%	$188.1M
Accounts Receivable	$582.3M 7.6%	$541.4M -9.2%	$596.0M 2.5%	$581.2M -8.4%	$634.4M
Inventory	$479.3M -9.9%	$532.1M 7.0%	$497.4M -3.7%	$516.4M 15.3%	$447.7M
Other Current Assets	$36.7M -15.2%	$43.3M -0.5%	$43.5M -19.9%	$54.3M 38.9%	$39.1M
Total Current Assets	$1.3B -7.3%	$1.4B -7.2%	$1.5B -8.2%	$1.6B -6.8%	$1.8B
Property,Plant and Equipment	$635.1M 1.0%	$628.7M 5.2%	$597.5M 1.2%	$590.7M -2.6%	$606.7M
Operating Lease Assets	$46.3M 41.2%	$32.8M -12.1%	$37.3M 25.2%	$29.8M -8.3%	$32.5M
Goodwill	$710.6M -6.7%	$761.7M 20.3%	$633.4M 2.2%	$619.7M -1.3%	$627.8M
Intangible Assets	$362.3M 12.8%	$321.1M -4.6%	$336.7M -3.2%	$347.9M -4.6%	$364.8M
Other Noncurrent Assets	$97.0M -5.6%	$102.8M -5.4%	$108.7M -1.6%	$110.5M 22.8%	$90.0M
Total Assets	$3.1B -3.0%	$3.2B 0.8%	$3.2B -3.6%	$3.3B -4.1%	$3.5B
Liabilities
Accounts Payable	$504.1M -14.4%	$588.7M -1.9%	$600.4M -4.1%	$625.8M -16.1%	$745.9M
Accrued Liabilities	$316.1M 5.9%	$298.5M -10.9%	$334.9M 12.2%	$298.4M -18.5%	$366.1M
Current Portion of Long Term Debt	$42.3M 323.0%	$10.0M 0.0%	$10.0M 0.0%	$10.0M 47.1%	$6.8M
Total Current Liabilities	$862.5M -3.9%	$897.2M -5.1%	$945.3M 1.2%	$934.2M -16.5%	$1.1B
Long Term Debt	$112.7M -38.5%	$183.2M 56.2%	$117.3M -64.9%	$334.5M 76.1%	$189.9M
Operating Lease Liabilities Noncurrent	$37.1M 57.9%	$23.5M -15.8%	$27.9M 24.6%	$22.4M 0.4%	$22.3M
Other Noncurrent Liabilities	$272.5M 7.9%	$252.6M -9.5%	$279.0M -4.9%	$293.5M -5.7%	$311.2M
Total Liabilities	$1.3B -5.3%	$1.4B -0.9%	$1.4B -13.6%	$1.6B -3.5%	$1.6B
Equity
Preferred Stock	$0	$0	$0	$0	$0
Additional Paid In Capital	$614.4M 2.2%	$601.3M 4.0%	$578.2M 4.0%	$555.9M 2.0%	$545.2M
Retained Earnings	$4.0B 9.7%	$3.6B 10.5%	$3.3B 12.9%	$2.9B 2.1%	$2.8B
Treasury Stock	$2.9B 16.1%	$2.5B 13.6%	$2.2B 15.6%	$1.9B 26.8%	$1.5B
Accumulated Other Comprehensive Income	$-98.6M 11.9%	$-111.9M -32.9%	$-84.2M -2.2%	$-82.4M 75.1%	$-331.4M
Total Stockholders Equity	$1.9B -1.4%	$1.9B 2.1%	$1.8B 5.5%	$1.7B -4.6%	$1.8B
Total Liabilitiesand Equity	$3.1B -3.0%	$3.2B 0.8%	$3.2B -3.6%	$3.3B -4.1%	$3.5B

Income Statement

Revenue, expense, and profitability

13 accounts · 5 years

Revenue $3.8B

Operating income Not reported

Net income $546.2M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$3.8B 0.3%	$3.8B -0.9%	$3.9B 2.6%	$3.8B 6.1%	$3.5B
Expenses Cost of Revenue	$2.3B -0.8%	$2.4B -0.3%	$2.4B -2.3%	$2.4B 8.8%	$2.2B
Other Income Expense Gross Profit	$1.5B 2.1%	$1.5B -1.9%	$1.5B 11.7%	$1.3B 1.4%	$1.3B
Expenses Selling,General and Administrative	$759.4M 2.7%	$739.3M 1.6%	$727.4M 8.4%	$670.9M -4.3%	$701.4M
Expenses Restructuring and Asset Impairment	$0 -100.0%	$17.6M -6.4%	$18.8M	$0	$0
Other Income Expense Interest Expense	$13.5M 101.5%	$6.7M -44.2%	$12.0M 27.7%	$9.4M 118.6%	$4.3M
Other Income Expense Other Income/expense	$600.0K -92.9%	$8.5M 23.2%	$6.9M 101.6%	$-425.6M -2186.3%	$20.4M
Other Income Expense Income Before Tax	$715.1M 2.0%	$701.0M -4.4%	$733.5M 227.9%	$223.7M -64.2%	$625.6M
Income Tax Income Tax Expense	$168.9M 0.9%	$167.4M -5.4%	$176.9M 1574.2%	$-12.0M -108.7%	$138.5M
net Income net Income	$546.2M 2.4%	$533.6M -4.1%	$556.6M 136.1%	$235.7M -51.6%	$487.1M
net Income Comprehensive Income	$559.5M 10.6%	$505.9M -8.8%	$554.8M 14.5%	$484.7M 1.6%	$476.9M
Earnings Per Share Basic Eps	$4 6.0%	$4 -1.6%	$4 144.1%	$2 -50.2%	$3
Earnings Per Share Diluted Eps	$4 6.1%	$4 -1.6%	$4 144.4%	$2 -50.0%	$3

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $616.8M

Investing cash flow $-53.0M

Financing cash flow $-633.1M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$546.2M 2.4%	$533.6M -4.1%	$556.6M 136.1%	$235.7M -51.6%	$487.1M
Operating Activities Depreciation and Amortization	$85.1M 8.0%	$78.8M 0.6%	$78.3M 1.8%	$76.9M -1.3%	$77.9M
Operating Activities Stock Based Compensation	$13.8M -7.4%	$14.9M 29.6%	$11.5M 3.6%	$11.1M -6.7%	$11.9M
Operating Activities Deferred Income Taxes	$8.9M 293.5%	$-4.6M -21.1%	$-3.8M	$0	$0
Operating Activities Changes In Operating Assets and Liabilities	$-37.2M 18.4%	$-45.6M -456.3%	$12.8M 107.0%	$-181.9M -383.3%	$64.2M
Operating Activities Other Non Cash Items	$0 -100.0%	$4.7M -68.5%	$14.9M -94.0%	$249.6M	$0
Operating Activities net Cash From Operating Activities	$616.8M 6.0%	$581.8M -13.2%	$670.3M 71.3%	$391.4M -38.9%	$641.1M
Investing Activities Capital Expenditures	$-70.8M 34.4%	$-108.0M -48.8%	$-72.6M -3.3%	$-70.3M 6.4%	$-75.1M
Investing Activities Business Acquisitions	$0 100.0%	$-145.9M -768.5%	$-16.8M -110.0%	$-8.0M 96.1%	$-207.6M
Investing Activities Purchases of Investments	$-42.7M 42.1%	$-73.7M -16.8%	$-63.1M 31.1%	$-91.6M 50.6%	$-185.4M
Investing Activities Proceeds From Sale of Investments	$60.5M 0.0%	$60.5M -52.9%	$128.4M -27.9%	$178.0M 50.6%	$118.2M
Investing Activities net Cash From Investing Activities	$-53.0M 80.2%	$-267.1M -1008.3%	$-24.1M -397.5%	$8.1M 102.3%	$-349.9M
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 -701.7%	$150.6M 80.4%	$83.5M
Financing Activities Repurchase of Common Stock	$-400.8M -31.1%	$-305.8M 0.2%	$-306.5M 24.0%	$-403.5M -10.1%	$-366.5M
Financing Activities Dividends Paid	$-195.7M -2.8%	$-190.4M -3.8%	$-183.5M -3.6%	$-177.2M -4.2%	$-170.1M
Financing Activities Other Financing Activities	$1.0M -94.5%	$18.1M -22.6%	$23.4M 3442.9%	$-700.0K -102.2%	$32.1M
Financing Activities net Cash From Financing Activities	$-633.1M -55.0%	$-408.4M 40.4%	$-684.7M -58.9%	$-430.8M -2.3%	$-421.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$4.2M 163.6%	$-6.6M 48.4%	$-12.8M 38.5%	$-20.8M	$0
Cash Reconciliation net Change In Cash	$-65.1M 35.1%	$-100.3M -95.5%	$-51.3M 1.5%	$-52.1M 59.9%	$-129.8M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+38.8%	+38.1%	+38.5%	+35.4%	+37.0%
Operating margin	—	—	—	—	—
Net margin	+14.3%	+14.0%	+14.4%	+6.3%	+13.8%
FCF margin	+14.3%	+12.4%	+15.5%	+8.6%	+16.0%
Growth
Revenue CAGR (3y)	+0.7%	+2.6%	+10.0%	+7.8%	+3.5%
Returns
ROE	+29.4%	+28.3%	+30.2%	+13.5%	+26.6%
ROA	+17.4%	+16.5%	+17.3%	+7.1%	+14.0%
ROIC	—	—	—	—	—
Liquidity
Current ratio	1.50x	1.55x	1.59x	1.75x	1.57x
Quick ratio	0.88x	0.87x	0.99x	1.04x	0.96x
Leverage
D/E	0.69x	0.72x	0.74x	0.91x	0.90x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	1.22x	1.18x	1.20x	1.13x	1.02x
Cash conversion cycle	+52d	+43d	+41d	+40d	+17d

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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