AOS
A. O. Smith Corporation
AOS's fundamentals are mixed: it turned 15% of its revenue into free cash flow, but its operating margin fell 1 points to 17%. At 18x earnings, it's trading below its usual 21x. Analysts expect earnings to hold roughly steady.
AOS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Healthy |
AOS's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
AOS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $63.98 | — |
| Cheap | 18x | $63.76 | -0.3% |
| Current | 18x | $63.98 | — |
| Fair | 21x | $75.16 | +17% |
| Expensive | 30x | $107 | +67% |
Historical ranges are pointers, not guarantees.
AOS's PE is in its cheap range at 18x. On analysts' estimates for next year's earnings, today's price would be 17x.
AOS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Decline | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect AOS's profitability to improve, but its revenue to decline.
AOS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.73 | +4.1% |
| Q3 2026 | $3.58 | -3.5% |
| Q2 2026 | $3.59 | 0% |
| Q1 2026 | $3.75 | +4.7% |
| Q4 2025 | $3.85 | +6.1% |
| Q3 2025 | $3.71 | -2.1% |
| Q2 2025 | $3.59 | -7.2% |
| Q1 2025 | $3.58 | -7% |
| Q4 2024 | $3.63 | -1.6% |
AOS earned $3.58 per share over the past year, down 3.5% from the year before.
AOS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $940.5M | -0.2% |
| Q2 2026 | $1B | -0.7% |
| Q1 2026 | $945.6M | -1.9% |
| Q4 2025 | $912.5M | 0% |
| Q3 2025 | $942.5M | +4.4% |
| Q2 2025 | $1B | -1.3% |
| Q1 2025 | $963.9M | -1.5% |
| Q4 2024 | $912.4M | -7.7% |
AOS's revenue grew through 2021 and has held roughly level since: $941M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -0.1 points |
| Q2 2026 | 17% | -3.9 points |
| Q1 2026 | 17% | -2 points |
| Q4 2025 | 18% | +0.8 points |
| Q3 2025 | 19% | -0.9 points |
| Q2 2025 | 20% | -1.5 points |
| Q1 2025 | 19% | -2.9 points |
| Q4 2024 | 17% | -2.6 points |
AOS's operating margin was 19% last quarter, about level with the same quarter a year ago.
AOS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $162.9M | -32% |
| Q2 2026 | $114.4M | -6.6% |
| Q1 2026 | $118.9M | +583% |
| Q4 2025 | $165.5M | -13% |
| Q3 2025 | $240.6M | +47% |
| Q2 2025 | $122.5M | +255% |
| Q1 2025 | $17.4M | -79% |
| Q4 2024 | $191.3M | -5% |
AOS's free cash flow has been positive every quarter for seven years: $562M over the past year, down 1.8% from the year before.
AOS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -1.8M shares |
| 1 year | -3.4% | -4.8M shares |
| 3 years | -10% | -15.1M shares |
| 5 years | -15% | -24.5M shares |
| Available history | -18% | -30.6M shares |
AOS has 136M diluted shares, down 3.4% from a year ago, with $326M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $98.2M |
| Q2 2026 | $111.1M |
| Q1 2026 | $51.3M |
| Q4 2025 | $65.4M |
| Q3 2025 | $84.1M |
| Q2 2025 | $130.7M |
| Q1 2025 | $120.6M |
| Q4 2024 | $68.7M |
AOS spent $326M buying back its own shares over the past year, down 19% from the year before.
AOS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 0.5x | Very low |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | 0.0x | Very low |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | -0.0x | Net Cash |
AOS's net debt is less than a year of its operating earnings (EBITDA).
AOS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.0 | Neutral |
| Stochastic | 75.5 | Neutral |
AOS's weekly RSI is 56 (neutral) and its Stochastic is 76 (neutral).
AOS PE vs Industrials Sector
| Metric | AOS | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 18 | 58 | 40 pts below |
AOS is trading at 18x earnings, a 26% discount to the Industrials sector's median of 24x.
AOS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $60.5 | 5.7% above |
| 20 week MA | $60.6 | 5.6% above |
| 50 week MA | $64.2 | 0.3% below |
| 100 week MA | $66.1 | 3.2% below |
| 200 week MA | $71.0 | 9.9% below |
AOS has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 9.9% below its 200-week average.
AOS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $47.8 | $55.5 | +16% |
| 2021 | $55.5 | $82.8 | +49% |
| 2022 | $82.8 | $56.9 | -31% |
| 2023 | $56.9 | $82.4 | +45% |
| 2024 | $82.4 | $68.4 | -17% |
| 2025 | $68.4 | $67.8 | -1% |
| 2026 YTD | $67.8 | $64.0 | -5.6% |
AOS has finished lower in three of the last six years. It's down 5.6% so far in 2026.