AAON, Inc. (AAON) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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AAON Revenue Growth
Revenue Breakdown (FY 2025)
AAON's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
AAON Revenue Analysis (2014–2025)
As of May 6, 2026, AAON, Inc. (AAON) generated trailing twelve-month (TTM) revenue of $1.44 billion, reflecting explosive growth of +42.5% year-over-year. The most recent quarter (Q4 2025) recorded $424.2 million in revenue, up 10.4% sequentially.
Looking at the longer-term picture, AAON's 5-year compound annual growth rate (CAGR) stands at +22.9%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $1.44 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows AAON's business is primarily driven by Part Sales (100%). With over half of revenue concentrated in Part Sales, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including LII (-2.0% YoY), CARR (-1.9% YoY), and TT (+6.4% YoY), AAON has outperformed the peer group in terms of revenue growth. Compare AAON vs LII →
AAON Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AAONCurrent | $1.4B | +42.5% | +22.9% | 10.1% | |
 LII | $5.2B | -2.0% | +7.4% | 19.5% | |
 CARR | $21.7B | -1.9% | +4.5% | 9.9% | |
 TT | $21.3B | +6.4% | +11.4% | 18.6% | |
 JCI | $23.6B | +3.4% | +1.1% | 12.0% | |
 MOD | $2.6B | +13.2% | +5.5% | 11.0% |
AAON Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.44B | +20.1% | $385.7M | 26.7% | $146.2M | 10.1% |
| 2024 | $1.20B | +2.7% | $397.1M | 33.1% | $209.1M | 17.4% |
| 2023 | $1.17B | +31.5% | $399.0M | 34.1% | $227.5M | 19.5% |
| 2022 | $888.8M | +66.3% | $237.6M | 26.7% | $126.8M | 14.3% |
| 2021 | $534.5M | +3.9% | $137.8M | 25.8% | $69.3M | 13.0% |
| 2020 | $514.6M | +9.6% | $155.8M | 30.3% | $101.8M | 19.8% |
| 2019 | $469.3M | +8.2% | $119.4M | 25.4% | $67.0M | 14.3% |
| 2018 | $433.9M | +7.1% | $103.5M | 23.9% | $55.4M | 12.8% |
| 2017 | $405.2M | +5.5% | $123.7M | 30.5% | $74.2M | 18.3% |
| 2016 | $384.0M | +7.1% | $118.1M | 30.8% | $79.6M | 20.7% |
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Start ComparisonAAON — Frequently Asked Questions
Quick answers to the most common questions about buying AAON stock.
Is AAON's revenue growth accelerating or slowing?
AAON revenue is accelerating at +42.5% year-over-year, exceeding the 5-year CAGR of +22.9%. TTM revenue reached $1.4B. Growth momentum has increased versus prior periods.
What is AAON's long-term revenue growth rate?
AAON, Inc.'s 5-year revenue CAGR of +22.9% reflects the sustained expansion pattern. Current YoY growth of +42.5% is above this long-term average.
How is AAON's revenue distributed by segment?
AAON reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.