SMITH A O CORP (AOS) closed fiscal year 2025 with a gross margin of 38.8 % and a net margin of 14.3 %.
SMITH A O CORP (AOS) closed fiscal year 2025 with a gross margin of 38.8 % and a net margin of 14.3 %. The same year shows an EBITDA margin of 21.2 % and an EBIT margin of 19.0 %. The free cash flow margin was 14.3 %. Against the previous year the gross margin moved +0.7 pp and the net margin +0.3 pp. Across the period the gross margin ranges between 25.8 % in 2008 and 41.5 % in 2016. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 25.78 % | 28.72 % | 29.95 % | 29.97 % | 33.62 % | 35.93 % | 36.47 % | 39.81 % | 41.48 % | 41.13 % | 40.95 % | 39.45 % | 38.28 % | 37.04 % | 35.42 % | 38.54 % | 38.14 % | 38.83 % |
| EBITDA margin (%) | — | — | 11.66 % | 14.24 % | 16.19 % | 16.70 % | 17.19 % | 20.34 % | 21.60 % | 21.62 % | 21.50 % | 20.30 % | 20.14 % | 21.47 % | 11.69 % | 21.38 % | 20.60 % | 21.24 % |
| EBIT margin (%) | — | — | 8.92 % | 11.49 % | 13.38 % | 13.92 % | 14.66 % | 17.86 % | 19.17 % | 19.28 % | 19.24 % | 17.68 % | 17.38 % | 19.27 % | 9.64 % | 19.35 % | 18.54 % | 19.02 % |
| Net margin (%) | 1.50 % | 5.91 % | 7.50 % | 17.87 % | 8.18 % | 7.88 % | 8.82 % | 11.15 % | 12.16 % | 9.89 % | 13.93 % | 12.36 % | 11.91 % | 13.76 % | 6.28 % | 14.45 % | 13.98 % | 14.26 % |
| FCF margin (%) | 4.12 % | 16.01 % | 4.79 % | 0.30 % | 3.81 % | 8.45 % | 7.55 % | 11.00 % | 13.62 % | 7.75 % | 11.41 % | 13.09 % | 17.45 % | 15.99 % | 8.55 % | 15.51 % | 12.41 % | 14.26 % |
