# A. O. Smith Corporation (AOS)

> Source: Nexqual · https://nexqual.com/AOS · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, A. O. Smith Corporation (AOS), nexqual.com/AOS" · informational, not investment advice.

**Price:** USD 63.49 (+4.32% on the day) · last close of Oct 29, 2026; US market after hours, not a live price. Prev close 60.86 · day 60.11–63.51 · 52w 54.16–81.87 · market cap $8.63B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.80B, net income $500M (13.1% margin), free cash flow $639M (SEC filings).
- Valuation: P/E 17.2x (avg 19.5x at the last 3 fiscal year-ends), EV/EBITDA 12.0x, net debt $456M.
- Analysts: Hold (mean 2.92 on a 1–5 scale) (13 analysts), mean target USD 66.2 (range 55–80).
- Total return with dividends: 1Y -2.7% vs S&P 500 +14.4%; 5Y -4.9% vs S&P 500 +79.1%.
- Next earnings: 2026-10-29, EPS estimate USD 0.94, revenue estimate $974M. All companies reporting that day: https://nexqual.com/earnings/2026-10-29
- Dividend: USD 1.52 a year (yield 2.50%), paid quarterly; next ex-dividend date 2026-10-30; annual dividends grew 6.6% a year 2022–2025.
- Short interest: 11.54% of float (as of 2026-10-15), 7.0 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.54B | $3.75B | $3.85B | $3.82B | $3.83B | $3.80B |
| Gross profit | $1.31B | $1.33B | $1.48B | $1.46B | $1.49B | — |
| Operating income | $682M | $362M | $746M | $708M | $729M | $666M |
| Net income | $487M | $236M | $557M | $534M | $546M | $500M |
| EPS (diluted) | $3.02 | $1.51 | $3.69 | $3.63 | $3.85 | — |
| Free cash flow | $566M | $321M | $598M | $474M | $546M | $639M |
| Gross margin | 37.0% | 35.4% | 38.5% | 38.1% | 38.8% | — |
| Operating margin | 19.3% | 9.6% | 19.3% | 18.5% | 19.0% | 17.5% |
| Net margin | 13.8% | 6.3% | 14.4% | 14.0% | 14.3% | 13.1% |
| Revenue growth | +22.2% | +6.1% | +2.6% | -0.9% | +0.3% | — |
| Cash + short-term investments | $631M | $482M | $363M | $276M | $193M | — |
| Total debt | $197M | $345M | $127M | $193M | $155M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 17.2x · P/S 2.3x · EV/EBITDA 12.0x · EV/Sales 2.4x · P/FCF 13.5x · P/B 4.7x · FCF yield 7.41% · Earnings yield 5.80% · Dividend yield (paid, TTM) 2.29% · Buyback yield (TTM) 3.61% · Net debt $456M · EV $9.09B
P/E at fiscal year-ends: Dec 2025 17.4x, Dec 2024 18.8x, Dec 2023 22.4x.

## Analysts
Consensus Hold (mean 2.92 on a 1–5 scale), 13 analysts; mean target USD 66.2 (low 55, high 80).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Oppenheimer | Target lowered | Outperform | $75 → $72 |
| 2026-10-19 | Stifel | Downgrade | Buy → Hold | $70 → $59 |
| 2026-07-31 | Citigroup | Target lowered | Neutral | $65 → $64 |
| 2026-07-31 | Stifel | Target lowered | Buy | $76 → $70 |
| 2026-07-20 | Stifel | Target raised | Buy | $75 → $76 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -2.7% | -4.9% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | -2.7% | -1.0% |
| Volatility (annualized) | 27.4% | 25.9% |
| Max drawdown | -30.4% (Feb 2026→Oct 2026) | -42.7% (Dec 2021→Sep 2022) |

## Dividends
Annual dividend rate USD 1.52 per share, yield 2.50% at the current price. Paid over the last 12 months: USD 1.44 in 4 payments (quarterly).
Next ex-dividend date: Oct 30, 2026; payment date: Nov 16, 2026. To receive a dividend, shares must be owned before the ex-dividend date.
Latest change: raised 5.9% to USD 0.36 per payment from USD 0.34, starting with the Oct 31, 2025 ex-dividend date.
Payout ratio 40% of earnings · 5-year average yield 1.78% · annual dividends grew 6.6% a year from 2022 to 2025.
| Ex-dividend date | Amount per share |
|---|---|
| 2026-07-31 | USD 0.36 |
| 2026-04-30 | USD 0.36 |
| 2026-01-30 | USD 0.36 |
| 2025-10-31 | USD 0.36 |
| 2025-07-31 | USD 0.34 |
| 2025-04-30 | USD 0.34 |
| 2025-01-31 | USD 0.34 |
| 2024-10-31 | USD 0.34 |
Total by calendar year: 2022 USD 1.14 · 2023 USD 1.22 · 2024 USD 1.30 · 2025 USD 1.38.

## Short interest
10,985,132 shares sold short, 11.54% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 10,608,536 shares (+3.5%). Days to cover: 7.0 (short shares ÷ average daily volume).

## Peers (Specialty Industrial Machinery)
RRX (Regal Rexnord Corporation) USD 163.62 +1.57% · GGG (Graco Inc.) USD 68.75 +2.37% · WTS (Watts Water Technologies, Inc.) USD 350.89 +2.34% · CR (Crane Company) USD 205.81 +3.72% · GNRC (Generac Holdlings Inc.) USD 203.36 +1.00% · INIO (INNIO N.V.) USD 17.52 -4.52%

## More
Full page: https://nexqual.com/AOS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.94 | $0.99 | -4.3% | $974.2M | 11 |
| Next quarter (ends 2027-03-31) | $0.93 | $0.97 | -3.9% | $990.1M | 4 |
| Current fiscal year (ends 2026-12-31) | $3.72 | $3.76 | -1.0% | $3.89B | 12 |
| Next fiscal year (ends 2027-12-31) | $4.03 | $4.16 | -3.1% | $4.03B | 12 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Sep 30, 2026 | $0.93 | $0.89 | Beat +4.5% | — |
| — | Quarter ended Jun 30, 2026 | $1.03 | $0.92 | Beat +12.0% | — |
| — | Quarter ended Mar 31, 2026 | $0.85 | $0.94 | Miss −9.6% | — |
| — | Quarter ended Dec 31, 2025 | $0.90 | $0.84 | Beat +7.1% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-29 | 10-Q | Quarterly report · period ended Sep 30, 2026 | https://www.sec.gov/Archives/edgar/data/91142/000009114226000104/0000091142-26-000104-index.htm |
| 2026-10-29 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/91142/000009114226000102/0000091142-26-000102-index.htm |
| 2026-10-28 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/91142/000009114226000100/0000091142-26-000100-index.htm |
| 2026-08-07 | Schedule 13G/A | FMR LLC, Abigail P. Johnson: 10.7% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/91142/000031506626002247/0000315066-26-002247-index.htm |
| 2026-08-06 | Schedule 13G/A | FMR LLC, Abigail P. Johnson: 9.3% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/91142/000031506626002145/0000315066-26-002145-index.htm |
| 2026-07-30 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/91142/000009114226000098/0000091142-26-000098-index.htm |
| 2026-07-30 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/91142/000009114226000096/0000091142-26-000096-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.