A.O. Smith Corp
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.83B | $3.82B | $3.85B | $3.75B | $3.54B | $2.90B | $2.99B | $3.19B |
| North America | $2.96B | $2.93B | $2.92B | $2.82B | $2.53B | $2.12B | $2.08B | $2.04B |
| Rest of World | $865.8M | $890.0M | $956.9M | $965.8M | $1.04B | $800.3M | $935.8M | $1.17B |
| Intersegment Eliminations | $0 | $0 | $-27.0M | $-31.0M | $-27.1M | $-23.3M | $-26.6M | $-30.4M |
| Cost of Revenue | $2.34B | $2.36B | $2.37B | $2.42B | $2.23B | $1.79B | $1.81B | $1.88B |
| Gross Profit | $1.49B | $1.46B | $1.48B | $1.33B | $1.31B | $1.11B | $1.18B | $1.31B |
| Gross Margin | 38.8% | 38.1% | 38.5% | 35.4% | 37.0% | 38.3% | 39.5% | 41.0% |
| Operating Expenses | ||||||||
| Research & Development | $95.0M | $101.7M | $97.5M | $89.0M | $94.2M | $80.7M | $87.9M | $94.0M |
| SG&A Expense | $759.4M | $739.3M | $727.4M | $670.9M | $701.4M | $660.3M | $715.6M | $753.8M |
| Operating Income | $728.6M | $707.7M | $745.5M | $362.0M | $682.0M | $503.2M | $529.1M | $613.4M |
| Operating Margin | 19.0% | 18.5% | 19.3% | 9.6% | 19.3% | 17.4% | 17.7% | 19.2% |
| Interest Expense | $13.5M | $6.7M | $12.0M | $9.4M | $4.3M | $7.3M | $11.0M | $8.4M |
| Pretax Income | $715.1M | $701.0M | $733.5M | $223.7M | $625.6M | $443.9M | $472.1M | $557.8M |
| Income Tax Expense | $168.9M | $167.4M | $176.9M | $-12.0M | $138.5M | $99.0M | $102.1M | $113.6M |
| Net Income | $546.2M | $533.6M | $556.6M | $235.7M | $487.1M | $344.9M | $370.0M | $444.2M |
| Net Margin | 14.3% | 14.0% | 14.4% | 6.3% | 13.8% | 11.9% | 12.4% | 13.9% |
| EPS (Basic) | $3.87 | $3.65 | $3.71 | $1.52 | $3.05 | $2.13 | $2.24 | $2.60 |
| EPS (Diluted) | $3.85 | $3.63 | $3.69 | $1.51 | $3.02 | $2.12 | $2.22 | $2.58 |
| Shares Outstanding (Basic) | 141.0M | 146.0M | 150.0M | 154.8M | 159.9M | 161.5M | 165.5M | 170.6M |
| Shares Outstanding (Diluted) | 141.9M | 147.1M | 151.0M | 155.8M | 161.3M | 162.6M | 166.7M | 172.2M |
| Dividends Per Share | $1.38 | $1.30 | $1.22 | $1.14 | $1.06 | $0.98 | $0.90 | $0.76 |