Filing Flows › Aaon (AAON) › Q3 2026 › vs Q3 2025
Aaon (AAON) Q3 2026 vs Q3 2025 (year over year)
Aaon's revenue rose $323M (+84%) from $384M in Q3 2025 to $707M in Q3 2026. The biggest changes: BasX +$156M (+207%); AAON Coil Products +$122M (+174%); AAON Oklahoma +$44.7M (+19%). Gross margin 26.7% against 27.8% (-1.2 pts).
Aaon, Q3 2026: revenue $707M (+84% year over year), operating margin 14.1%, net earnings $69.0M, operating cash flow $91.9M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 26.7% | 27.8% | -1.2 pts |
| Operating margin | 14.1% | 11.3% | +2.8 pts |
| Net margin | 9.7% | 8.0% | +1.7 pts |
| Free cash flow margin | 7.2% | -8.7% | +15.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| AAON Oklahoma | $283M | $239M | $44.7M | +19% |
| BasX | $231M | $75.2M | $156M | +207% |
| AAON Coil Products | $193M | $70.2M | $122M | +174% |
| Revenue | $707M | $384M | $323M | +84% |
| Gross profit | $189M | $107M | $81.7M | +76% |
| Cost of revenue | $519M | $277M | $242M | +87% |
| Operating profit | $100M | $43.6M | $56.4M | +129% |
| Operating expenses | $88.6M | $63.3M | $25.3M | +40% |
| Pre-tax earnings | $94.2M | $38.4M | $55.8M | +145% |
| Other expense, net | $5.8M | $5.2M | $597K | +12% |
| Net earnings | $69.0M | $30.8M | $38.2M | +124% |
| Income tax | $25.3M | $7.7M | $17.6M | +230% |
| Depreciation & amortization | $27.1M | $20.0M | $7.2M | +36% |
| Share-based compensation | $6.2M | $4.6M | $1.6M | +34% |
| Working capital & other | $10.4M | $43.1M | −$32.8M | -76% |
| Operating cash flow | $91.9M | $12.3M | $79.7M | +650% |
| Free cash flow (OCF − capex) | $51.1M | −$33.3M | $84.4M | — |
| Capital expenditures | $40.8M | $45.6M | −$4.7M | -10% |
Questions
How much did Aaon's revenue grow year over year in Q3 2026?
Aaon's revenue rose $323M (+84%) from $384M in Q3 2025 to $707M in Q3 2026.
What drove Aaon's revenue change in Q3 2026?
BasX +$156M (+207%); AAON Coil Products +$122M (+174%); AAON Oklahoma +$44.7M (+19%).