Start with its own history
At 30.18×, AAON is 34.7% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NASDAQ · AAONIndustrial - MachineryUpdated Nov 5, 2026
AAON, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
30.18×
34.7% belowthe 10-year annual average
Share price58.25
÷Earnings per share1.93
Price and EPS in quote currency. Calculation details
Investors are paying 30.18 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 46.21×
3-year average49.45×3 positive annual observations
5-year average51.76×5 positive annual observations
10-year average46.21×10 positive annual observations
Peer median · TTM35.57×7 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 57.77× | +1.6% |
| Dec 31, 2024 | 56.85× | +68.5% |
| Dec 31, 2023 | 33.73× | -15.4% |
| Dec 31, 2022 | 39.85× | -43.6% |
| Dec 31, 2021 | 70.60× | +60.5% |
| Dec 31, 2020 | 43.98× | -7.9% |
| Dec 31, 2019 | 47.74× | +10.3% |
| Dec 31, 2018 | 43.28× | +22.0% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 35.46× | +7.9% |
| Dec 31, 2016 | 32.88× | +18.9% |
| Dec 31, 2015 | 27.64× | -0.0% |
| Dec 31, 2014 | 27.65× | +32.4% |
| Dec 31, 2013 | 20.88× | +11.5% |
| Dec 31, 2012 | 18.73× | +17.2% |
| Dec 31, 2011 | 15.97× | +66.3% |
| Dec 31, 2010 | 9.60× | -20.2% |
| Dec 31, 2009 | 12.03× | -6.6% |
| Dec 31, 2008 | 12.88× | -21.2% |
| Dec 31, 2007 | 16.33× | -15.0% |
| Dec 31, 2006 | 19.22× | -1.8% |
| Dec 31, 2005 | 19.58× | -27.0% |
| Dec 31, 2004 | 26.84× | +57.2% |
| Dec 31, 2003 | 17.07× | +54.5% |
| Dec 31, 2002 | 11.05× | -28.1% |
| Dec 31, 2001 | 15.36× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How AAON compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 AAON This stockAAON, Inc. | 30.18× |
 TTTrane Technologies plc | 28.87× |
 CARRCarrier Global Corporation | N/M |
 LIILennox International Inc. | 16.60× |
 MAIRMadison Air Solutions Corporation | 107.96× |
 EMREmerson Electric Co. | 35.57× |
 MODModine Manufacturing Company | 41.24× |
 ZWSZurn Elkay Water Solutions Corporation | 25.95× |
 GHMGraham Corporation | 65.83× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does AAON’s P/E tell you?
Compare like with like
The median of the 7 positive peer ratios above is 35.57×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take AAON into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("AAON", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 58.25 ÷ EPS 1.93 = 30.18×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
AAON P/E ratio: common questions
The essentials behind the numbers.
AAON, Inc.'s current P/E is 30.18× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.