A. O. Smith (AOS) stock
Industrials · Building Products
A. O. Smith (AOS) is a Building Products company in the Industrials sector, headquartered in Milwaukee, Wisconsin. As of October 23, 2026, AOS closed at $61.65, a market capitalization of $8.38 billion, the 498th largest company in the S&P 500. The stock trades at 17.2x trailing earnings and 15.3x forward earnings.
- 1-year total return: -8.7% (dividends reinvested)
- 5-year return: +0.3% a year
- 52-week range: $54.16 – $81.87
- Dividend yield: 2.47%, 33 straight years of increases
- FI Handbook report card: B+ across 5 metrics
- 83rd largest of 83 Industrials stocks in the S&P 500
AOS price chart
1Y price change: -10.7% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| AOS | +6.8% | -6.3% | -8.7% | -0.5% | +0.3% | +4.3% | +12.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1983.
AOS key statistics
- Market cap
- $8.4B
- #498 in S&P 500
- P/E (TTM)
- 17.2x
- Forward P/E
- 15.3x
- EPS (TTM)
- —
- Revenue (TTM)
- —
- Free cash flow
- $639.4M
- Gross margin
- —
- Operating margin
- —
- Return on equity
- —
- Dividend yield
- 2.47%
- 52-week range
- $54.16 – $81.87
- Beta
- —
- Price / sales
- —
- EV / EBITDA
- —
- Debt / equity
- —
- Employees
- —
AOS report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth——
- Gross margin——
- Operating margin——
- FCF margin——
- Return on equity——
- Net debt / EBITDA0.0xA
- Forward P/E15.3xB
- PEG ratio1.6xC
- Shareholder yield7.2%A
- Share count change / yr-2.7%A
A.O. Smith financials
Revenue went from $2.7B in fiscal 2016 to $3.8B in fiscal 2025, growing 4.0% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.7B | $3.0B | $3.2B | $3.0B | $2.9B | $3.5B | $3.8B | $3.9B | $3.8B | $3.8B |
| Gross profit | $1.1B | $1.2B | $1.3B | $1.2B | $1.1B | $1.3B | $1.3B | $1.5B | $1.5B | $1.5B |
| Operating income | $515.0M | $577.9M | $613.4M | $529.1M | $503.2M | $682.0M | $362.0M | $745.5M | $707.7M | $728.6M |
| Net income | $326.5M | $296.5M | $444.2M | $370.0M | $344.9M | $487.1M | $235.7M | $556.6M | $533.6M | $546.2M |
| EPS (diluted) | $1.85 | $1.70 | $2.58 | $2.22 | $2.12 | $3.02 | $1.51 | $3.69 | $3.63 | $3.85 |
| Free cash flow | $365.9M | $232.2M | $363.7M | $391.8M | $505.3M | $566.0M | $321.1M | $597.7M | $473.8M | $546.0M |
| Buybacks | $135.2M | $139.1M | $202.6M | $287.7M | $56.7M | $366.5M | $403.5M | $306.5M | $305.8M | $400.8M |
| Dividends paid | $84.2M | $96.9M | $130.1M | $149.2M | $158.7M | $170.1M | $177.2M | $183.5M | $190.4M | $195.7M |
| Diluted shares | 176.8M | 174.6M | 172.2M | 166.7M | 162.6M | 161.3M | 155.8M | 151.0M | 147.1M | 141.9M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into AOS?
A reverse DCF asks what growth the current price requires. With an enterprise value of $8.4B and $639.4M of trailing free cash flow, A.O. Smith needs to grow free cash flow about 0.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 1.6% a year over the last five years.
P/E ratio history
Current 16.0x vs. median 22.2x (10th–90th percentile 14.6x–34.7x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
AOS dividend
- Dividend yield
- 2.47%
- Annual dividend
- $1.52
- Years of increases
- 33
- 5-yr dividend growth
- 7.1%
- per year
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
AOS analyst price targets
13 analysts' average 12-month target is $66.20 (+7% vs. $61.65). Targets range from $55.00 to $80.00. 23% rate it a buy.
AOS earnings
Next report: October 29, 2026. A.O. Smith has beaten EPS estimates 1 quarters in a row. Last quarter's revenue was $1.0B (-1% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $0.92 | $1.03 | +11.5% |
| Apr 30, 2026 | $0.94 | $0.85 | -9.9% |
| Jan 29, 2026 | $0.84 | $0.90 | +7.0% |
| Oct 28, 2025 | $0.91 | $0.94 | +3.6% |
| Jul 24, 2025 | $0.99 | $1.07 | +7.9% |
| Apr 29, 2025 | $0.91 | $0.95 | +4.3% |
| Jan 30, 2025 | $0.89 | $0.85 | -4.8% |
| Oct 22, 2024 | $0.82 | $0.82 | -0.1% |
Stocks like AOS
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 TT Trane Technologies | -0.87% | +8% | $97.9B | 33.2x | Compare |
 JCI Johnson Controls International | +0.67% | +31% | $87.2B | 40.7x | Compare |
 CARR Carrier Global | -0.42% | -0% | $46.4B | 40.8x | Compare |
 ALLE Allegion | +1.39% | +6% | $15.2B | 22.3x | Compare |
 MAS Masco | -2.61% | +11% | $15.0B | 16.7x | Compare |
 LII Lennox International | -0.72% | -23% | $13.0B | 16.6x | Compare |
 CAT Caterpillar | -2.42% | +33% | $315.8B | 29.6x | Compare |
 GE GE Aerospace | -2.69% | -6% | $296.4B | 32.6x | Compare |
AOS news
- 1 industrials stock to own for decades and 2 we question · Oct 22, 2026
- Earnings Preview: A.O. Smith (AOS) Q3 Earnings Expected to Decline · Oct 22, 2026
- A. O. Smith (AOS) Stock Sees Modest Fair Value Cut As Analysts Turn More Cautious · Oct 21, 2026
- A. O. Smith (AOS) Stock May Be 29% Undervalued On Cash Flow · Oct 20, 2026
- How Investors May Respond To A. O. Smith Stock After Analyst Downgrade · Oct 20, 2026
AOS stock FAQ
What is AOS's market cap?
A. O. Smith's market capitalization is $8.38 billion as of October 23, 2026, ranking 498th in the S&P 500.
What is AOS's P/E ratio?
AOS trades at a trailing price-to-earnings ratio of 17.2x and a forward P/E of 15.3x. Its median P/E over the period we track is 22.2x.
Does AOS pay a dividend?
Yes. A. O. Smith pays $1.52 per share a year, a 2.47% yield. It has raised its dividend 33 years in a row. Dividends grew 7.1% a year over the last five years.
How much has AOS stock returned?
Including reinvested dividends, AOS returned -8.7% over one year, +0.3% a year over five years, +4.3% a year over ten years through October 23, 2026.
Is AOS stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies A. O. Smith must grow free cash flow about 0% a year for the next decade. Its free cash flow grew 2% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the AOS price target?
13 analysts cover AOS with an average 12-month price target of $66.20, +7% from the current price. 23% of them rate it a buy.
When does AOS report earnings?
A. O. Smith is expected to report earnings on October 29, 2026. It has beaten EPS estimates 1 quarters in a row.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology