A. O. Smith (AOS) FY2025 10-K Annual Report
A. O. Smith (AOS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 10, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
A. O. Smith FY2025 10-K Analysis
Management Discussion & Analysis
- • Revenue $3,830.2M in 2025, up $12.1M vs $3,818.1M in 2024; growth from price increases, commercial water heaters, boilers, and Pureit acquisition ($54M)
- • Gross profit margin 38.8% in 2025 vs 38.1% in 2024; North America margin 24.4% vs 24.0%, Rest of World margin 8.7% vs 7.0%
- • North America segment best performer: $2,984.2M sales, $727.9M earnings, 24.4% margin; Rest of World worst: $880.4M sales, $76.4M earnings, 8.7% margin
- • Operating cash flow $616.8M up from $581.8M; free cash flow $546.0M vs $473.8M; share repurchases $400.8M (5.9M shares); dividends $1.38/share (+6%); capex $70.8M down from $108.0M
- • 2026 outlook: sales growth 2-5%, earnings per share $3.85-$4.15; risks include China demand softness and tariff changes; Leonard Valve acquisition $470M funded by term loan
Risk Factors
- • Foreign currency risk with $93.3 million in forward contracts, potential $9.3 million gain/loss from 10% currency fluctuations
- • Exposure to geopolitical conflicts in Ukraine and the Middle East impacting international trade and tariffs
- • Supply chain risk from potential delays or cost increases in commodities, components, parts, and accessories
- • Competitive pressures from new technologies and competitors challenging current product lines
- • Risk of major customer default or bankruptcy causing substantial revenue loss
A. O. Smith FY2025 Key Financial MetricsXBRL
Revenue
$3.8B
▲ +0.3% YoY
Net Income
$546M
▲ +2.4% YoY
Gross Margin
38.8%
▲ +70bp YoY
Operating Margin
19.0%
▲ +49bp YoY
Net Margin
14.3%
▲ +28bp YoY
ROE
29.4%
▲ +107bp YoY
Total Assets
$3.1B
▼ -3.0% YoY
EPS (Diluted)
$3.85
▲ +6.1% YoY
Operating Cash Flow
$617M
▲ +6.0% YoY
Source: XBRL data from A. O. Smith FY2025 10-K filing on SEC EDGAR. All figures in USD.
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