AAON, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $107.6M | $168.6M | $177.6M | $100.4M | $58.8M | $79.0M | $53.7M | $42.3M |
| Depreciation & Amortization | $79.2M | $62.7M | $46.5M | $35.1M | $30.3M | $25.6M | $22.8M | $17.7M |
| Depreciation | $72.3M | $54.0M | $41.1M | $31.5M | — | — | — | — |
| Amortization | $6.9M | $8.4M | $5.3M | $3.6M | $246.0K | $234.0K | $234.0K | $194.0K |
| Stock-Based Compensation | $18.0M | $16.7M | $16.4M | $13.7M | $11.8M | $11.3M | $11.8M | $7.9M |
| Net Cash from Operating Activities | $534.0K | $192.5M | $158.9M | $61.3M | $61.2M | $128.8M | $97.9M | $54.9M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | $54.0M | $55.4M | $67.8M | $37.2M | $37.3M |
| Business Acquisitions | — | $0 | $0 | $249.0K | $103.4M | $0 | $0 | $6.4M |
| Net Cash from Investing Activities | $-192.4M | $-213.1M | $-109.3M | $-76.2M | $-158.7M | $-61.3M | $-37.0M | $-34.6M |
| Financing Activities | ||||||||
| Dividends Paid | $32.6M | $26.1M | $26.4M | $22.9M | $19.9M | $19.8M | $16.6M | $16.7M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $186.6M | $18.0M | $-46.5M | $17.4M | $18.7M | $-29.6M | $-18.5M | $-39.7M |
| Net Change in Cash | — | — | — | — | — | — | — | $-19.5M |
| Free Cash Flow | — | — | — | $7.3M | $5.8M | $61.0M | $60.8M | $17.6M |