AOS A.O. Smith Corporation Common Stock
About A.O. Smith Corporation Common Stock Company overview from Wikipedia
A. O. Smith Corporation is an American manufacturer of both residential and commercial water heaters and boilers, and the largest manufacturer and marketer of water heaters in North America. It also supplies water treatment and purification products in the Asian market. The company has 27 locations worldwide, including five manufacturing facilities in North America, as well as plants in Bengaluru in India, Nanjing in China and Veldhoven in The Netherlands.
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A. O. Smith Corporation is an American manufacturer of both residential and commercial water heaters and boilers, and the largest manufacturer and marketer of water heaters in North America. It also supplies water treatment and purification products in the Asian market. The company has 27 locations worldwide, including five manufacturing facilities in North America, as well as plants in Bengaluru in India, Nanjing in China and Veldhoven in The Netherlands.
In the past, A. O. Smith has had numerous other product lines, including for defense. Smith ranked 74th among United States corporations in the value of World War II military production contracts.
A. O. Smith is headquartered in Milwaukee, Wisconsin. The Ashland City, Tennessee location is home of the world's largest water-heater factory.
Brands and subsidiaries
A. O. Smith operates under the following brand names around the world: A. O. Smith (United States, Canada, China, Europe, Turkey, India and Vietnam), Aquasana, GSW (Canada), John Wood (Canada), State Water Heaters, American Water Heaters, Reliance Water Heaters, Lochinvar Corporation, Takagi, Giant Factories Inc. and U.S. Craftmaster Water Heaters.
History
The company today known as the A. O. Smith Corporation was founded in 1874 by Charles Jeremiah Smith as C. J. Smith and Sons, a baby carriage and bicycle parts manufacturer. It began forming steel tubing from sheet metal to make bicycle frames. By 1895, the company was the largest bicycle parts manufacturer. In 1899, Arthur Oliver Smith, a son of the founder, developed the world's first pressed steel vehicle frame and he later began making frames for the Peerless Automobile Company, Cadillac, and Ford Motor Company. In 1904, the company incorporated in Milwaukee, Wisconsin, as A. O. Smith Company.
In 1913, Lloyd Raymond Smith took over, and in 1914, the company introduced the Smith Motor Wheel, a gasoline-powered device for bicycles.
In 1915, it began manufacturing the Smith Flyer automobile, which it later sold to Briggs & Stratton of Milwaukee.
In 1916, A. O. Smith was incorporated in New York.
In the 1920s, company engineers developed the coated welding rod which they used in manufacturing until 1965, as well as the world's first fully automated automobile frame factory, with the capability of making a frame every eight seconds, until 1958, the first arc-welded, high-pressure vessel used to refine oil, which the company produced until 1963, and oil supply line pipes, until 1972.
In 1933, the company used the process of fusing glass to steel to make a large single-piece glass-lined brewery tank. Over the next 32 years, it made more than 11,000 glass-lined tanks. In 1936, the company patented the glass-lined water heater. Three years later, it began mass-producing residential water heaters, but shifted all production to war-time use during World War II.
By 1945, the company had built 4.5 million bombs, 16,750 sets of landing gear, and 46,700 propeller blades. It also built nose frames for the B-25 bomber, water heaters, jeep frames, and components for the atomic bomb project. In 1946, it built a 400,000 square foot residential water heater plant in Kankakee, Illinois. From this plant, it also made water heaters with the Kenmore name. In 1948, it entered the commercial water heater market after acquiring The Burkay Company of Toledo, Ohio. In 1949, the company began producing Harvestore, a glass-fused-to-steel silo, targeted at dairy and livestock operations.
In the 1950s, A. O. Smith acquired Whirl-A-Way Motors of Dayton, Ohio, and consolidated its electric motor manufacturing operations there. The motor division later introduced the hermetic motor, a critical component of air conditioning and refrigeration compressors. Its water heater division introduced the first glass-lined commercial water heater, the A. O. Smith Burkay B-65, and later the company established a glass fiber division to replace steel in many applications. It also expanded into supplying oil field pipe and pipe for service stations, eventually becoming Smith Fiberglass Products in 1986.
In the early 1960s, the company opened a commercial water heater and boiler plant in Stratford, Ontario, Canada. In 1965, the Motor division invented the enclosed canopy, two-compartment motor, a design that improved the reliability in pool pump motors by separating the switching components from the motor windings. In 1967, fourth generation Smith family member, Lloyd B. Smith, was elected chairman and chief executive officer of the company. By 1969, the company had produced its 10 millionth residential water heater, and by 1972 had expanded to Europe. In 1974, the Conservationist line of residential water heaters was introduced. In 1976, the Motor division opened a plant in Bray, Ireland, to supply hermetic motors. In 1978, A. O. Smith began manufacturing storage tanks, beginning with Aquastore, a glass-fused-to-steel tank.
By the early 1980s, the Automotive Products unit had manufactured over 100 million passenger car frames, and 50 million truck frames, in Milwaukee, and soon after the company opened its first electric motor assembly operations in Ciudad Juárez and Ciudad Acuña, Mexico. In 1990, it developed the first hermetic motor insulation system compatible with R-134a non-ozone-depleting refrigerant. In 1995, they acquired Peabody TecTank of Parsons, Kansas, allowing A. O. Smith to enter the bulk dry storage market. That same year the company expanded into Asia through joint ventures: Smith Fiberglass Products and Harbin Composites Corporation to make fiberglass pipes for China's petroleum industry, as well as Water Products Company and Yuhan Water Heater to manufacture residential water heaters. In 1996, the Water Products division introduced the Cyclone XHE commercial water heater. In 1997, after 90 years in the automotive industry, A. O. Smith sold its Automotive Products Company to Tower International. In 1997, they acquired UPPCO, Inc., making A. O Smith the world's leading manufacturer of C-frame subfractional horsepower motors. In 1998, they acquired General Electric's domestic compressor motor business, as well as the electric motor division of Magnetek. By the end of the decade, Water Products Company had bought out its joint venture partner in Asia, and had opened a plant in Nanjing, China.
In the 2000s, A. O. Smith made a number of acquisitions, by acquiring State Industries, Inc., and its subsidiary APCOM Inc., Shenzhen Speeda Industrial Co. Ltd., and Athens Products, a supplier of hermetic motors for scroll compressor applications, as well as The Changheng Group of Changzhou, China, a manufacturer of fractional horsepower motors for HVAC applications, Taicang Special Motor Company, Ltd., of Suzhou, China, Yueyang Zhongmin Special Electrical Machinery Co. Ltd., Lochinvar Corporation, a manufacturer of high efficiency condensing boilers for hot water and hydronic heating applications, and in 2006, GSW Inc. a water heaters manufacturer for the Canadian market, and The American Water Heater Company, the exclusive supplier of water heaters to Lowe's, carrying the Whirlpool brand. In 2009, the company entered the water purification industry with a new venture, A. O. Smith (Shanghai) Water Treatment Products Co. Ltd. In 2010, A. O. Smith opened a 76,000 square foot residential water-heater manufacturing plant in Bengaluru, India, which later expanded to 297000 square foot operation with expansion to manufacture of water purification products. Takagi Industrial Company's North American operations were acquired in 2010. In 2011, A. O. Smith sold its electric motor business to Regal-Beloit.
On August 8, 2016, A. O. Smith, acquired Austin-based water filtration company Aquasana (previously known as Sun Water Systems) from L' Catterton for $87 Million.
In November 2024, A. O. Smith finalized the acquisition of Pureit, the water purification business of Hindustan Unilever for ₹600 crore.
A. O. Smith Foundation
The A. O. Smith Foundation is a private, nonprofit organization, founded in 1955, that has contributed nearly $50 million to qualifying charitable, educational, scientific, literary, and civic organizations located primarily in communities where A. O. Smith Corporation has facilities. The support for the Foundation comes from the profits of A. O. Smith Corporation.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
AOS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
AOS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| July 31, 2026 | $0.3600 |
| April 30, 2026 | $0.3600 |
| Jan. 30, 2026 | $0.3600 |
| Oct. 31, 2025 | $0.3600 |
| July 31, 2025 | $0.3400 |
| April 30, 2025 | $0.3400 |
| Jan. 31, 2025 | $0.3400 |
| Oct. 31, 2024 | $0.3400 |
| July 31, 2024 | $0.3200 |
| April 29, 2024 | $0.3200 |
| Jan. 30, 2024 | $0.3200 |
| Oct. 30, 2023 | $0.3200 |
| July 28, 2023 | $0.3000 |
| April 27, 2023 | $0.3000 |
| Jan. 30, 2023 | $0.3000 |
| Oct. 28, 2022 | $0.3000 |
| July 28, 2022 | $0.2800 |
| April 28, 2022 | $0.2800 |
| Jan. 28, 2022 | $0.2800 |
| Oct. 28, 2021 | $0.2800 |
AOS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 4 22.2%
- Buy 4 22.2%
- Hold 8 44.4%
- Sell 2 11.1%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-15Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.03 | $0.93 | 0.10% |
| March 31, 2026 | $0.85 | $0.95 | -0.10% |
| Dec. 31, 2025 | $0.90 | $0.85 | 0.05% |
| Sept. 30, 2025 | $0.94 | $0.92 | 0.02% |
| June 30, 2025 | $1.07 | $0.99 | 0.08% |
| March 31, 2025 | $0.95 | $0.92 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AOS | — | 17.4 | 0.32% | 14.3% | 29.2% | 38.8% |
| LII | — | 21.3 | -2.7% | 15.5% | 78.1% | 33.4% |
| MAIR | — | — | — | — | — | — |
| OC | $8.98B | -18.0 | 2.6% | -5.2% | -11.7% | 28.1% |
| WMS | $9.96B | 25.2 | 5.0% | 14.0% | 25.2% | 38.3% |
| MOD | — | 95.9 | 23.1% | 3.8% | 11.6% | 23.0% |
| ZWS | $7.76B | 40.4 | 8.3% | 11.7% | 12.5% | 45.1% |
| SSD | $6.66B | 19.6 | 4.5% | 14.8% | 17.4% | 45.9% |
| BLDR | $11.38B | 26.4 | -7.4% | 2.9% | 10.2% | 30.4% |
| AWI | $8.20B | 27.0 | 12.1% | 19.1% | 35.5% | 40.6% |
| AAON | $6.23B | 59.1 | 20.1% | 7.5% | 12.4% | 26.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.83B | $3.82B | $3.85B | $3.75B | $3.54B | $2.90B | $2.99B | $3.19B | $3.00B | $2.69B | $2.54B | $2.36B | |
| Cost of Revenue | $2.34B | $2.36B | $2.37B | $2.42B | $2.23B | $1.79B | $1.81B | $1.88B | $1.76B | $1.57B | $1.53B | $1.50B | |
| Gross Profit | $1.49B | $1.46B | $1.48B | $1.33B | $1.31B | $1.11B | $1.18B | $1.31B | $1.23B | $1.11B | $1.01B | $859M | |
| R&D Expense | $95M | $102M | $98M | $89M | $94M | $81M | $88M | $94M | $86M | $80M | $74M | $68M | |
| SG&A Expense | $759M | $739M | $727M | $671M | $701M | $660M | $716M | $754M | $723M | $662M | $611M | $572M | |
| Operating Income | $729M | $708M | $746M | $233M | $682M | $503M | $529M | $613M | $578M | $515M | $453M | $345M | |
| Interest Expense | $14M | $7M | $12M | $9M | $4M | $7M | $11M | $8M | $10M | $7M | $7M | $6M | |
| Other Non-op | $600.0K | $8M | $7M | $-426M | $20M | $11M | $18M | $21M | $21M | $18M | $11M | $5M | |
| Pretax Income | $715M | $701M | $734M | $224M | $626M | $444M | $472M | $558M | $521M | $462M | $402M | $287M | |
| Income Tax | $169M | $167M | $177M | $-12M | $138M | $99M | $102M | $114M | $224M | $136M | $120M | $79M | |
| Net Income | $546M | $534M | $557M | $236M | $487M | $345M | $370M | $444M | $296M | $326M | $283M | $208M | |
| EPS (Basic) | $3.87 | $3.65 | $3.71 | $1.52 | $3.05 | $2.13 | $2.24 | $2.60 | $1.72 | $1.87 | $1.59 | $1.15 | |
| EPS (Diluted) | $3.85 | $3.63 | $3.69 | $1.51 | $3.02 | $2.12 | $2.22 | $2.58 | $1.70 | $1.85 | $1.58 | $1.14 | |
| Shares (Basic) | 141,029,845 | 145,997,584 | 149,952,679 | 154,786,327 | 159,906,834 | 161,530,589 | 165,450,441 | 170,589,345 | 172,666,056 | 174,712,683 | 177,622,280 | 180,587,008 | |
| Shares (Diluted) | 141,914,840 | 147,084,080 | 151,015,574 | 155,779,364 | 161,319,902 | 162,604,149 | 166,710,897 | 172,194,040 | 174,605,189 | 176,825,280 | 179,009,180 | 181,973,962 | |
| EBITDA | $814M | $786M | $888M | $439M | $760M | $583M | $607M | $685M | $648M | $580M | $516M | $405M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $174M | $240M | $340M | $391M | $443M | $573M | $374M | $260M | $347M | $330M | $324M | $319M | |
| Short-term Investments | $19M | $36M | $24M | $91M | $188M | $116M | $177M | $385M | $473M | $424M | $322M | $222M | |
| Receivables | $582M | $541M | $596M | $581M | $634M | $585M | $590M | $647M | $593M | $519M | $501M | $475M | |
| Inventory | $479M | $532M | $497M | $516M | $448M | $300M | $303M | $305M | $297M | $251M | $223M | $208M | |
| Other Current Assets | $37M | $43M | $44M | $54M | $39M | $43M | $56M | $42M | $57M | $38M | $34M | $53M | |
| Current Assets | $1.29B | $1.39B | $1.50B | $1.63B | $1.75B | $1.62B | $1.50B | $1.64B | $1.77B | $1.56B | $1.40B | $1.32B | |
| PP&E (Net) | $635M | $629M | $598M | $591M | $607M | $541M | $545M | $540M | $529M | $462M | $443M | $428M | |
| PP&E (Gross) | $1.56B | $1.50B | $1.42B | $1.36B | $1.34B | $1.22B | $1.16B | $1.10B | $1.06B | $932M | $867M | $816M | |
| Accum. Depreciation | $929M | $867M | $821M | $774M | $736M | $681M | $612M | $557M | $531M | $471M | $424M | $388M | |
| Goodwill | $711M | $762M | $633M | $620M | $628M | $547M | $546M | $513M | $517M | $492M | $421M | $429M | |
| Intangibles | $362M | $321M | $337M | $348M | $365M | $324M | $338M | $293M | $309M | $308M | $291M | $308M | |
| Other Non-current Assets | $97M | $103M | $109M | $110M | $90M | $89M | $81M | $87M | $76M | $67M | $71M | $31M | |
| Total Assets | $3.14B | $3.24B | $3.21B | $3.33B | $3.47B | $3.16B | $3.06B | $3.07B | $3.20B | $2.89B | $2.63B | $2.50B | |
| Accrued Liabilities | $148M | $153M | $177M | $159M | $182M | $162M | $144M | $120M | $116M | $101M | $90M | $85M | |
| Current Liabilities | $862M | $897M | $945M | $934M | $1.12B | $886M | $766M | $785M | $794M | $766M | $653M | $605M | |
| Capital Leases | $37M | $24M | $28M | $22M | $22M | $34M | $39M | $0 | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | $21M | |
| Other Non-current Liabilities | $138M | $118M | $146M | $165M | $182M | $177M | $189M | $201M | $210M | $88M | $68M | $61M | |
| Total Liabilities | $1.28B | $1.36B | $1.37B | $1.58B | $1.64B | $1.31B | $1.39B | $1.35B | $1.55B | $1.38B | $1.19B | $1.13B | |
| Long-term Debt | $155M | $193M | $127M | $344M | $197M | $113M | $284M | $221M | $410M | $324M | $249M | $224M | |
| Total Debt | $155M | $193M | $127M | $344M | $197M | $113M | $284M | $221M | $410M | $324M | $249M | $224M | |
| Common Stock | · | · | · | · | · | · | $164M | $164M | $164M | $164M | $164M | $82M | |
| Retained Earnings | $3.95B | $3.60B | $3.26B | $2.88B | $2.83B | $2.51B | $2.32B | $2.10B | $1.79B | $1.59B | $1.35B | $1.14B | |
| Treasury Stock | $2.90B | $2.50B | $2.20B | $1.91B | $1.50B | $1.16B | $1.11B | $827M | $626M | $488M | $360M | $230M | |
| AOCI | $-99M | $-112M | $-84M | $-82M | $-331M | $-321M | $-348M | $-351M | $-300M | $-363M | $-313M | $-272M | |
| Stockholders' Equity | $1.86B | $1.88B | $1.84B | $1.75B | $1.83B | $1.85B | $1.67B | $1.72B | $1.64B | $1.51B | $1.44B | $1.38B | |
| Liabilities + Equity | $3.14B | $3.24B | $3.21B | $3.33B | $3.47B | $3.16B | $3.06B | $3.07B | $3.20B | $2.89B | $2.63B | $2.52B |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $85M | $79M | $78M | $77M | $78M | $80M | $78M | $72M | $70M | $65M | $63M | $60M | |
| Amort. of Intangibles | $15M | $13M | $13M | $13M | $12M | $14M | $16M | $14M | $14M | $13M | $14M | $14M | |
| Restructuring | $0 | $18M | $19M | $0 | $0 | $8M | $0 | · | · | · | · | · | |
| Other Non-cash | $-14M | $-31M | $35M | $79M | $76M | $137M | $8M | $-67M | $-40M | $55M | $9M | $-42M | |
| Operating Cash Flow | $617M | $582M | $670M | $391M | $641M | $562M | $456M | $449M | $326M | $447M | $352M | $264M | |
| CapEx | $71M | $108M | $73M | $70M | $75M | $57M | $64M | $85M | $94M | $81M | $73M | $86M | |
| Investing Cash Flow | $-53M | $-267M | $-24M | $8M | $-350M | $12M | $34M | $-13M | $-158M | $-300M | · | · | |
| Debt Issued | $1.09B | $1.10B | $688M | $151M | $84M | · | $63M | · | $86M | $74M | $28M | · | |
| Net Debt Issued | $-38M | · | · | $151M | $84M | $-171M | · | · | $86M | · | · | · | |
| Stock Repurchased | $401M | $306M | $306M | $404M | $366M | $57M | $288M | $203M | $139M | $135M | $128M | $104M | |
| Net Stock Activity | $-401M | $-306M | $-306M | $-404M | $-366M | $-57M | $-288M | $-203M | $-139M | $-135M | $-128M | $-104M | |
| Dividends Paid | $196M | $190M | $184M | $177M | $170M | $159M | $149M | $130M | $97M | $84M | $68M | $54M | |
| Financing Cash Flow | $-633M | $-408M | $-685M | $-431M | $-421M | $-375M | $-376M | $-523M | $-152M | $-140M | · | · | |
| Net Change in Cash | $-65M | $-100M | $-51M | $-52M | $-130M | $199M | $114M | $-87M | $16M | $7M | $4M | $-61M | |
| Taxes Paid | $165M | $188M | $190M | $175M | $131M | $114M | $117M | $116M | $131M | $117M | $98M | $89M | |
| Free Cash Flow | $546M | $474M | $598M | $321M | $566M | $505M | $392M | $364M | $232M | $366M | $272M | $178M | |
| Levered FCF | $536M | $469M | $589M | $311M | $563M | $500M | $383M | $357M | $226M | $361M | $266M | $174M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.8% | 38.1% | 38.5% | 35.4% | 37.0% | 38.3% | 39.5% | 40.9% | 41.3% | 41.7% | 39.8% | 36.5% | |
| Operating Margin | 19.0% | 18.5% | 21.0% | 9.6% | 19.3% | 17.4% | 17.7% | 19.2% | 19.3% | 19.2% | 17.9% | 14.7% | |
| Net Margin | 14.3% | 14.0% | 14.4% | 6.3% | 13.8% | 11.9% | 12.4% | 13.9% | 9.9% | 12.2% | 11.2% | 8.8% | |
| Pretax Margin | 18.7% | 18.4% | 19.0% | 6.0% | 17.7% | 15.3% | 15.8% | 17.5% | 17.4% | 17.2% | 15.9% | 12.2% | |
| EBITDA Margin | 21.2% | 20.6% | 23.1% | 11.7% | 21.5% | 20.1% | 20.3% | 21.5% | 21.6% | 21.6% | 20.3% | 17.2% | |
| ROA | 17.1% | 16.5% | 17.0% | 6.9% | 14.7% | 11.1% | 12.1% | 14.2% | 9.7% | 11.8% | 11.0% | 8.5% | |
| ROE | 29.2% | 28.1% | 29.9% | 13.5% | 26.1% | 19.2% | 22.3% | 25.6% | 18.8% | 22.1% | 20.0% | 15.3% | |
| ROIC | 27.7% | 25.9% | 31.2% | 18.2% | 26.2% | 19.9% | 21.3% | 25.2% | 16.0% | 19.8% | 18.8% | 15.6% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.5 | 1.6 | 1.6 | 1.7 | 1.6 | 1.8 | 2.0 | 2.1 | 2.2 | 2.0 | 2.2 | 2.2 | |
| Quick Ratio | 0.9 | 0.9 | 1.0 | 1.1 | 1.1 | 1.4 | 1.5 | 1.6 | 1.8 | 1.7 | 1.8 | 1.7 | |
| Debt / Equity | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | |
| LT Debt / Equity | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | |
| Interest Coverage | 54.0 | 105.6 | 67.5 | 38.5 | 158.6 | 68.9 | 48.1 | 73.0 | 57.2 | 70.5 | 61.2 | 60.6 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.2 | 1.2 | 1.2 | 1.1 | 1.1 | 0.9 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | |
| Inventory Turnover | 4.6 | 4.6 | 4.7 | 5.0 | 6.0 | 5.9 | 6.0 | 6.3 | 6.5 | 6.6 | 7.1 | 7.5 | |
| Receivables Turnover | 6.8 | 6.7 | 6.5 | 6.2 | 5.8 | 4.9 | 4.8 | 5.1 | 5.4 | 5.3 | 5.2 | 5.0 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 0.32% | -0.90% | 2.6% | 6.1% | 22.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 0.67% | 2.6% | 10.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 5.8% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 6.1% | -1.6% | 144.4% | -50.0% | 42.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 36.6% | 6.3% | 20.3% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 12.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 2.4% | -4.1% | 136.2% | -51.6% | 41.2% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 32.3% | 3.1% | 17.3% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 9.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 4.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.83B | $3.82B | $3.85B | $3.75B | $3.54B | $2.90B | $2.99B | $3.19B | $3.00B | $2.69B | $2.54B | $2.36B | |
| Net Income TTM | $546M | $534M | $557M | $236M | $487M | $345M | $370M | $444M | $296M | $326M | $283M | $208M | |
| P/E | 17.4 | 18.8 | 22.3 | 37.9 | 28.4 | 25.9 | 21.5 | 16.6 | 36.0 | 25.6 | 24.2 | 24.7 | |
| Earnings Yield | 5.8% | 5.3% | 4.5% | 2.6% | 3.5% | 3.9% | 4.7% | 6.0% | 2.8% | 3.9% | 4.1% | 4.0% | |
| Payout Ratio | 35.8% | 35.7% | 33.0% | 75.2% | 34.9% | 46.0% | 40.3% | 29.3% | 32.7% | 25.8% | 24.0% | 26.2% | |
| Annual Payout | $196M | $190M | $184M | $177M | $170M | $159M | $149M | $130M | $97M | $84M | $68M | $54M |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.00B | $946M | $912M | $942M | $1.01B | $964M | $912M | $903M | $1.02B | $979M | $988M | $938M | $961M | $966M | $936M | $874M | |
| Cost of Revenue | $616M | $580M | $562M | $578M | $614M | $588M | $574M | $565M | $628M | $594M | $618M | $581M | $576M | $592M | $588M | $569M | |
| Gross Profit | $388M | $366M | $350M | $364M | $397M | $375M | $338M | $337M | $396M | $385M | $370M | $356M | $385M | $374M | $349M | $305M | |
| SG&A Expense | $198M | $204M | $187M | $189M | $191M | $193M | $182M | $177M | $188M | $192M | $185M | $175M | $180M | $187M | $169M | $156M | |
| Operating Income | $166M | $162M | $163M | $175M | $206M | $184M | $148M | $158M | $208M | $194M | $131M | $193M | $227M | $194M | $-285M | $164M | |
| Interest Expense | $8M | $7M | $2M | $4M | $5M | $3M | $2M | $2M | $2M | $1M | $1M | $2M | $4M | $4M | $3M | $2M | |
| Other Non-op | $-1M | $0 | $-800.0K | $-200.0K | $400.0K | $1M | $9M | $-3M | $900.0K | $1M | $-4M | $-2M | $9M | $4M | $-419M | $-2M | |
| Pretax Income | $158M | $155M | $161M | $172M | $202M | $181M | $145M | $157M | $207M | $193M | $177M | $176M | $209M | $171M | $-243M | $145M | |
| Income Tax | $33M | $37M | $35M | $40M | $49M | $44M | $35M | $36M | $50M | $45M | $40M | $41M | $52M | $44M | $-123M | $35M | |
| Net Income | $125M | $118M | $125M | $132M | $152M | $137M | $110M | $120M | $156M | $148M | $137M | $135M | $157M | $127M | $-120M | $110M | |
| EPS (Basic) | $0.91 | $0.85 | $0.91 | $0.94 | $1.07 | $0.95 | $0.76 | $0.82 | $1.07 | $1.00 | $0.93 | $0.90 | $1.04 | $0.84 | $-0.76 | $0.71 | |
| EPS (Diluted) | $0.91 | $0.85 | $0.89 | $0.94 | $1.07 | $0.95 | $0.75 | $0.82 | $1.06 | $1.00 | $0.91 | $0.90 | $1.04 | $0.84 | $-0.77 | $0.71 | |
| Shares (Basic) | 137,147,703 | 138,292,701 | -284,133,045 | 139,953,331 | 141,629,971 | 143,579,588 | -293,224,043 | 145,577,396 | 146,465,276 | 147,178,955 | -301,522,739 | 150,103,113 | 150,475,003 | 150,897,302 | -312,121,551 | 154,197,072 | |
| Shares (Diluted) | 137,862,584 | 139,167,380 | -285,871,289 | 140,894,888 | 142,483,521 | 144,407,720 | -295,513,326 | 146,700,340 | 147,599,585 | 148,297,481 | -303,636,347 | 151,209,974 | 151,541,100 | 151,900,847 | -314,244,869 | 155,074,862 | |
| EBITDA | $191M | $186M | · | $197M | $227M | $205M | · | $176M | $224M | $235M | · | $193M | $227M | $213M | · | $164M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $181M | $185M | $174M | $153M | $178M | $173M | $240M | $219M | $216M | $252M | · | $281M | $379M | $406M | · | $359M | |
| Short-term Investments | $0 | $19M | $19M | $20M | $0 | $27M | $36M | $36M | $17M | $52M | · | $61M | $31M | $90M | · | $58M | |
| Receivables | $670M | $634M | $582M | $589M | $640M | $642M | $541M | $558M | $650M | $585M | · | $587M | $589M | $587M | · | $564M | |
| Inventory | $483M | $488M | $479M | $507M | $519M | $533M | $532M | $555M | $545M | $522M | · | $519M | $508M | $504M | · | $526M | |
| Other Current Assets | $56M | $42M | $37M | $47M | $51M | $48M | $43M | $44M | $53M | $52M | · | $56M | $54M | $57M | · | $63M | |
| Current Assets | $1.39B | $1.37B | $1.29B | $1.32B | $1.39B | $1.42B | $1.39B | $1.41B | $1.48B | $1.46B | · | $1.50B | $1.56B | $1.64B | · | $1.57B | |
| PP&E (Net) | $619M | $632M | $635M | $633M | $637M | $634M | $629M | $625M | $603M | $599M | · | $581M | $577M | $586M | · | $584M | |
| PP&E (Gross) | $1.59B | $1.58B | $1.56B | $1.55B | $1.54B | $1.52B | $1.50B | $1.49B | $1.45B | $1.43B | · | $1.38B | $1.37B | $1.38B | · | $1.34B | |
| Accum. Depreciation | $970M | $948M | $929M | $914M | $902M | $883M | $867M | $862M | $844M | $831M | · | $801M | $795M | $790M | · | $756M | |
| Goodwill | $915M | $920M | $711M | $710M | $714M | $707M | $762M | $652M | $650M | $652M | $633M | $630M | $622M | $620M | $620M | $619M | |
| Intangibles | $589M | $599M | $362M | $366M | $372M | $374M | $321M | $327M | $330M | $334M | · | $339M | $343M | $345M | · | $350M | |
| Other Non-current Assets | $82M | $79M | $97M | $100M | $98M | $96M | $103M | $106M | $99M | $101M | · | $112M | $113M | $110M | · | $78M | |
| Total Assets | $3.64B | $3.65B | $3.14B | $3.17B | $3.25B | $3.27B | $3.24B | $3.15B | $3.20B | $3.18B | $3.21B | $3.20B | $3.25B | $3.34B | $3.33B | $3.23B | |
| Accrued Liabilities | $161M | $159M | $148M | $154M | $148M | $199M | $153M | $144M | $153M | $197M | · | $175M | $170M | $214M | · | $164M | |
| Current Liabilities | $872M | $878M | $862M | $852M | $843M | $882M | $897M | $844M | $872M | $883M | · | $896M | $861M | $896M | · | $901M | |
| Capital Leases | $39M | $41M | $37M | $36M | $28M | $25M | $24M | $24M | $25M | $26M | · | $26M | $26M | $25M | · | $24M | |
| Other Non-current Liabilities | $152M | $142M | $130M | $140M | $118M | $121M | $118M | $136M | $136M | $160M | · | $157M | $159M | $175M | · | $165M | |
| Total Liabilities | $1.80B | $1.77B | $1.28B | $1.33B | $1.40B | $1.41B | $1.36B | $1.24B | $1.29B | $1.30B | · | $1.32B | $1.36B | $1.55B | · | $1.48B | |
| Long-term Debt | $638M | $616M | $155M | $186M | $303M | $270M | $193M | $120M | $140M | $120M | · | $130M | $206M | $341M | · | $288M | |
| Total Debt | $638M | $616M | · | $186M | $303M | $270M | · | $120M | $140M | $120M | · | $130M | $206M | $341M | · | $288M | |
| Retained Earnings | $4.09B | $4.02B | $3.95B | $3.88B | $3.79B | $3.69B | $3.60B | $3.54B | $3.47B | $3.36B | · | $3.17B | $3.08B | $2.97B | · | $3.05B | |
| Treasury Stock | $3.07B | $2.95B | $2.90B | $2.84B | $2.75B | $2.62B | $2.50B | $2.43B | $2.35B | $2.27B | · | $2.06B | $1.97B | $1.96B | · | $1.79B | |
| AOCI | $-104M | $-101M | $-99M | $-100M | $-96M | $-110M | $-112M | $-85M | $-92M | $-88M | · | $-90M | $-82M | $-80M | · | $-368M | |
| Stockholders' Equity | $1.84B | $1.88B | $1.86B | $1.84B | $1.85B | $1.86B | $1.88B | $1.92B | $1.91B | $1.88B | $1.84B | $1.88B | $1.89B | $1.79B | $1.75B | $1.75B | |
| Liabilities + Equity | $3.64B | $3.65B | $3.14B | $3.17B | $3.25B | $3.27B | $3.24B | $3.15B | $3.20B | $3.18B | · | $3.20B | $3.25B | $3.34B | · | $3.23B |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $25M | $24M | $22M | $22M | $20M | $21M | $19M | $20M | $20M | $20M | $21M | $19M | $19M | $19M | $20M | $18M | |
| Restructuring | $23M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $-12M | · | · | · | $-119M | · | · | · | $-61M | · | · | · | $-26M | · | · | |
| Operating Cash Flow | $124M | $129M | $183M | $255M | $140M | $39M | $222M | $196M | $57M | $107M | $231M | $179M | $140M | $120M | $177M | $160M | |
| CapEx | $10M | $10M | $18M | $15M | $17M | $21M | $31M | $32M | $23M | $22M | $30M | $18M | $14M | $11M | $19M | $20M | |
| Investing Cash Flow | $9M | $-480M | $-16M | $-35M | $9M | $-11M | $-156M | $-51M | $11M | $-71M | $7M | $-65M | $44M | $-10M | $-50M | $17M | |
| Debt Issued | $255M | $564M | · | · | $371M | $240M | · | · | · | · | · | · | · | · | · | $-7M | |
| Net Debt Issued | · | $463M | · | · | · | · | · | · | · | $-7M | · | · | · | $-4M | · | · | |
| Stock Repurchased | $111M | $51M | $65M | $84M | $131M | $121M | $69M | $84M | $79M | $74M | $145M | $92M | $16M | $53M | $122M | $92M | |
| Net Stock Activity | · | $-51M | · | · | · | $-121M | · | · | · | $-74M | · | · | · | $-53M | · | · | |
| Dividends Paid | $50M | $50M | $51M | $48M | $48M | $49M | $50M | $47M | $47M | $47M | $48M | $45M | $45M | $45M | $46M | $43M | |
| Financing Cash Flow | $-138M | $361M | $-146M | $-246M | $-146M | $-95M | $-41M | $-144M | $-103M | $-121M | $-184M | $-210M | $-194M | $-98M | $-111M | $-141M | |
| Net Change in Cash | $-4M | $11M | $22M | $-25M | $5M | $-67M | $20M | $3M | $-36M | $-88M | $59M | $-98M | $-27M | $15M | $32M | $-600.0K | |
| Free Cash Flow | · | $119M | · | · | · | $17M | · | · | · | $85M | · | · | · | $109M | · | · | |
| Levered FCF | · | $113M | · | · | · | $15M | · | · | · | $84M | · | · | · | $106M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.6% | 38.7% | · | 38.7% | 39.3% | 39.0% | · | 37.4% | 38.7% | 39.3% | · | 38.0% | 40.0% | 38.7% | · | 34.9% | |
| Operating Margin | 16.5% | 17.1% | · | 18.6% | 20.4% | 19.1% | · | 19.5% | 21.9% | 22.0% | · | 20.6% | 23.7% | 20.1% | · | 18.7% | |
| Net Margin | 12.4% | 12.5% | · | 14.0% | 15.0% | 14.2% | · | 13.3% | 15.2% | 15.1% | · | 14.4% | 16.3% | 13.1% | · | 12.6% | |
| Pretax Margin | 15.7% | 16.4% | · | 18.2% | 19.9% | 18.8% | · | 17.3% | 20.2% | 19.7% | · | 18.8% | 21.7% | 17.7% | · | 16.6% | |
| EBITDA Margin | 19.0% | 19.6% | · | 20.9% | 22.4% | 21.2% | · | 19.5% | 21.9% | 24.0% | · | 20.6% | 23.7% | 22.1% | · | 18.7% | |
| ROA | 3.6% | 3.4% | · | 4.2% | 4.7% | 4.2% | · | 3.8% | 4.9% | 4.5% | · | 4.2% | 4.8% | 3.8% | · | 3.4% | |
| ROE | 6.8% | 6.3% | · | 7.0% | 8.1% | 7.3% | · | 6.3% | 8.2% | 8.0% | · | 7.5% | 8.5% | 7.0% | · | 6.0% | |
| ROIC | 5.3% | 5.0% | · | 6.6% | 7.2% | 6.5% | · | 6.6% | 8.3% | 8.2% | · | 7.4% | 8.2% | 6.7% | · | 6.1% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.6 | · | 1.5 | 1.6 | 1.6 | · | 1.7 | 1.7 | 1.7 | · | 1.7 | 1.8 | 1.8 | · | 1.7 | |
| Quick Ratio | 1.0 | 1.0 | · | 0.9 | 1.0 | 1.0 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | 1.2 | 1.2 | · | 1.1 | |
| Debt / Equity | 0.3 | 0.3 | · | 0.1 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.2 | |
| LT Debt / Equity | 0.3 | 0.3 | · | 0.1 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.2 | |
| Interest Coverage | 20.5 | 22.8 | · | 48.7 | 44.8 | 63.4 | · | 117.4 | 124.6 | 215.6 | · | 80.5 | 50.5 | 48.5 | · | 68.2 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | |
| Inventory Turnover | 1.2 | 1.1 | · | 1.1 | 1.2 | 1.1 | · | 1.1 | 1.2 | 1.2 | · | 1.1 | 1.2 | 1.2 | · | 1.3 | |
| Receivables Turnover | 1.5 | 1.5 | · | 1.6 | 1.6 | 1.6 | · | 1.6 | 1.7 | 1.7 | · | 1.6 | 1.6 | 1.6 | · | 1.5 |
Valuation (TTM) 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.90B | $3.86B | · | $3.82B | $3.90B | $3.87B | · | $3.84B | $3.90B | $3.84B | · | $3.74B | $3.77B | $3.78B | · | $3.73B | |
| Net Income TTM | $527M | $539M | · | $541M | $565M | $560M | · | $559M | $596M | $567M | · | $529M | $520M | $483M | · | $487M | |
| P/E | 16.6 | 17.3 | · | 19.4 | 16.8 | 17.1 | · | 23.8 | 20.4 | 23.7 | · | 18.9 | 21.4 | 22.2 | · | 15.7 | |
| Earnings Yield | 6.0% | 5.8% | · | 5.1% | 5.9% | 5.9% | · | 4.2% | 4.9% | 4.2% | · | 5.3% | 4.7% | 4.5% | · | 6.4% | |
| Payout Ratio | · | 42.5% | · | · | · | 36.0% | · | · | · | 32.0% | · | · | · | 35.8% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $3.83B | $3.82B | $3.85B | $3.75B | $3.54B |
| Gross Margin % | 38.8% | 38.1% | 38.5% | 35.4% | 37.0% |
| Operating Margin % | 19.0% | 18.5% | 21.0% | 9.6% | 19.3% |
| Net Income | $546M | $534M | $557M | $236M | $487M |
| Diluted EPS | $3.85 | $3.63 | $3.69 | $1.51 | $3.02 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 |
| Current Ratio | 1.5 | 1.6 | 1.6 | 1.7 | 1.6 |
| Quick Ratio | 0.9 | 0.9 | 1.0 | 1.1 | 1.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $546M | $474M | $598M | $321M | $566M |
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Institutional owners (13F) 669 filers · $5.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 75 (-22 vs prior Q) | 93 (+14 vs prior Q) | 228 (-3 vs prior Q) | 220 (-4 vs prior Q) | +20.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $456,993,600 | 7,286,250 | 8.30% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $442,259,229 | 7,051,327 | 8.03% | Shares |
| STATE STREET CORP | $412,790,802 | 6,581,486 | 7.49% | Shares |
| FMR LLC | $391,503,690 | 6,242,086 | 7.11% | Shares |
| AMERICAN CENTURY COMPANIES INC | $296,440,549 | 4,726,410 | 5.38% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $210,319,353 | 3,358,722 | 3.82% | Shares |
| Impax Asset Management Group plc | $176,476,079 | 2,813,713 | 3.20% | Shares |
| ProShare Advisors LLC | $157,085,690 | 2,504,555 | 2.85% | Shares |
| FIRST TRUST ADVISORS LP | $144,336,518 | 2,301,289 | 2.62% | Shares |
| EARNEST PARTNERS LLC | $123,659,567 | 1,971,613 | 2.24% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $117,415,651 | 1,872,062 | 2.13% | Shares |
| 1832 Asset Management L.P. | $92,080,047 | 1,468,113 | 1.67% | Shares |
| Madison Asset Management, LLC | $92,005,369 | 1,466,922 | 1.67% | Shares |
| NORGES BANK | $91,233,014 | 1,454,608 | 1.66% | Shares |
| River Road Asset Management, LLC | $84,476,439 | 1,346,882 | 1.53% | Shares |
| Talaria Asset Management Pty Ltd | $75,307,904 | 1,200,700 | 1.37% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $70,900,759 | 1,146,705 | 1.29% | Shares |
| Sarasin & Partners LLP | $70,420,072 | 1,122,769 | 1.28% | Shares |
| Gates Capital Management, Inc. | $64,621,733 | 1,030,321 | 1.17% | Shares |
| Caisse de depot et placement du Quebec | $64,185,892 | 1,023,372 | 1.17% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $62,659,226 | 1,015,218 | 1.14% | Shares |
| Vest Financial, LLC | $53,007,431 | 845,144 | 0.96% | Shares |
| Gotham Asset Management, LLC | $48,018,996 | 765,609 | 0.87% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $39,362,884 | 627,597 | 0.71% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $35,274,133 | 562,406 | 0.64% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $34,872,257 | 555,999 | 0.63% | Shares |
| Welch & Forbes LLC | $33,380,144 | 532,209 | 0.61% | Shares |
| SCHWARTZ INVESTMENT COUNSEL INC | $32,983,382 | 525,883 | 0.60% | Shares |
| BOSTON FINANCIAL MANGEMENT LLC | $32,844,012 | 481,513 | 0.60% | Shares |
| GOLDMAN SACHS GROUP INC | $32,033,550 | 510,739 | 0.58% | Shares |
| AMERIPRISE FINANCIAL INC | $31,212,297 | 497,645 | 0.57% | Shares |
| Assenagon Asset Management S.A. | $30,686,638 | 489,264 | 0.56% | Shares |
| Eurizon Capital SGR S.p.A. | $30,506,456 | 486,409 | 0.55% | Shares |
| Arbejdsmarkedets Tillaegspension | $30,419,200 | 485,000 | 0.55% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $28,947,224 | 461,531 | 0.53% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $26,028,361 | 414,993 | 0.47% | Shares |
| BERKSHIRE ASSET MANAGEMENT LLC/PA | $25,703,347 | 409,811 | 0.47% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $25,407,433 | 405,093 | 0.46% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $24,931,137 | 397,499 | 0.45% | Shares |
| Amundi | $24,599,348 | 392,209 | 0.45% | Shares |
| NICHOLAS COMPANY, INC. | $24,189,411 | 385,673 | 0.44% | Shares |
| Scharf Investments, LLC | $23,507,623 | 374,792 | 0.43% | Shares |
| BlackRock, Inc. | $21,064,888 | 335,856 | 0.38% | Shares |
| Boston Trust Walden Corp | $19,803,652 | 315,747 | 0.36% | Shares |
| CONFLUENCE INVESTMENT MANAGEMENT LLC | $19,569,440 | 312,013 | 0.36% | Shares |
| Quantinno Capital Management LP | $17,565,801 | 280,066 | 0.32% | Shares |
| Cresset Asset Management, LLC | $16,667,305 | 265,742 | 0.30% | Shares |
| STIFEL FINANCIAL CORP | $16,441,973 | 262,150 | 0.30% | Shares |
| ALPS ADVISORS INC | $16,325,263 | 260,288 | 0.30% | Shares |
| California Public Employees Retirement System | $15,887,039 | 253,301 | 0.29% | Shares |
| Robeco Schweiz AG | $15,878,822 | 253,170 | 0.29% | Shares |
| VANGUARD GROUP INC | $15,815,782 | 236,480 | 0.29% | Shares |
| RHUMBLINE ADVISERS | $15,317,530 | 244,222 | 0.28% | Shares |
| Vanguard Global Advisers, LLC | $14,571,173 | 232,321 | 0.26% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $14,261,023 | 227,376 | 0.26% | Shares |
| Swiss National Bank | $14,149,632 | 225,600 | 0.26% | Shares |
| MassMutual Private Wealth & Trust, FSB | $13,998,853 | 223,196 | 0.25% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $13,811,915 | 220,220 | 0.25% | Shares |
| GRANDFIELD & DODD, LLC | $13,191,898 | 210,330 | 0.24% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13,083,392 | 208,600 | 0.24% | Put option |
| Invesco Ltd. | $12,630,365 | 201,377 | 0.23% | Shares |
| FRANKLIN RESOURCES INC | $12,609,793 | 201,049 | 0.23% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $12,376,412 | 197,328 | 0.22% | Shares |
| Brandywine Global Investment Management, LLC | $12,343,774 | 184,566 | 0.22% | Shares |
| Distillate Capital Partners LLC | $11,721,490 | 186,886 | 0.21% | Shares |
| RAYMOND JAMES FINANCIAL INC | $11,502,826 | 183,400 | 0.21% | Shares |
| MIROVA | $11,138,382 | 177,589 | 0.20% | Shares |
| BARCLAYS PLC | $11,042,420 | 176,059 | 0.20% | Shares |
| Thematics Asset Management | $10,791,270 | 147,000 | 0.20% | Shares |
| UBS Group AG | $10,697,586 | 170,561 | 0.19% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $10,389,066 | 165,642 | 0.19% | Shares |
| CITADEL ADVISORS LLC | $10,333,873 | 164,762 | 0.19% | Shares |
| Baird Financial Group, Inc. | $10,100,993 | 161,049 | 0.18% | Shares |
| Perpetual Ltd | $10,045,361 | 160,162 | 0.18% | Shares |
| PRUDENTIAL FINANCIAL INC | $9,788,397 | 156,065 | 0.18% | Shares |
| JANE STREET GROUP, LLC | $9,771,776 | 155,800 | 0.18% | Call option |
| MILLENNIUM MANAGEMENT LLC | $9,756,723 | 155,560 | 0.18% | Shares |
| Holocene Advisors, LP | $9,471,912 | 151,019 | 0.17% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $8,988,875 | 136,319 | 0.16% | Shares |
| &PARTNERS | $8,630,320 | 137,441 | 0.16% | Shares |
| Graham Capital Management, L.P. | $8,363,273 | 133,343 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $8,291,584 | 132,200 | 0.15% | Call option |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $8,141,056 | 129,800 | 0.15% | Shares |
| BANK OF AMERICA CORP /DE/ | $8,137,230 | 129,739 | 0.15% | Shares |
| TRUIST FINANCIAL CORP | $7,425,236 | 118,387 | 0.13% | Shares |
| JANE STREET GROUP, LLC | $7,181,440 | 114,500 | 0.13% | Put option |
| ALLIANCEBERNSTEIN L.P. | $7,165,766 | 108,671 | 0.13% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $7,134,212 | 113,747 | 0.13% | Shares |
| PATTEN & PATTEN INC/TN | $7,105,988 | 113,297 | 0.13% | Shares |
| Paradoxiom Capital L.P. | $7,071,364 | 108,191 | 0.13% | Shares |
| ST GERMAIN D J CO INC | $6,951,948 | 110,841 | 0.13% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $6,894,559 | 109,926 | 0.13% | Shares |
| LPL Financial LLC | $6,876,492 | 109,638 | 0.12% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $6,650,703 | 106,038 | 0.12% | Shares |
| Quantbot Technologies LP | $6,342,435 | 101,123 | 0.12% | Shares |
| YOUSIF CAPITAL MANAGEMENT, LLC | $6,248,081 | 99,619 | 0.11% | Shares |
| PINEBRIDGE INVESTMENTS LLC | $6,004,625 | 95,737 | 0.11% | Shares |
| AXA Investment Managers S.A. | $5,979,024 | 81,447 | 0.11% | Shares |
| Illinois Municipal Retirement Fund | $5,943,974 | 94,770 | 0.11% | Shares |
| Ensign Peak Advisors, Inc | $5,879,185 | 93,737 | 0.11% | Shares |
Company insiders 65 insiders · 41 officers · 23 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Stephen M Shafer | President and CEO | Feb. 9, 2026 A | — | 0 | 0 | $0 |
| William L Vallett Jr | CEO, Lochinvar, LLC | Feb. 12, 2018 A | 54,688 | 0 | 0 | $0 |
| Carrie L Anderson | EVP & CFO | July 1, 2026 A | — | 0 | 0 | $0 |
| Charles T Lauber | EVP & CFO | Feb. 13, 2026 M | 47,119 | 0 | 0 | $0 |
| John J Kita | Executive Vice President & CFO | Feb. 11, 2019 A | 46,247 | 0 | 0 | $0 |
| Kenneth W Krueger | Senior Vice President & CFO | Oct. 12, 2004 A | 22,000 | 0 | 0 | $0 |
| Wei Ding | President - A. O. Smith China | Feb. 13, 2020 M | 10,528 | 0 | 0 | $0 |
| Wilfridus M Brouwer | President - AOSHBSRL | March 6, 2018 S | 7,630 | 0 | 0 | $0 |
| Darrell W. Schuh | SVP; President & GM Lochinvar | March 4, 2026 S | 2,201 | 0 | 2 | $-110,568 |
| Samuel M. Carver | SVP - Global Operations | Feb. 23, 2026 G | 2,713 | 0 | 0 | $0 |
| Parag Kulkarni | SVP - Int'l; President India | Feb. 13, 2026 M | — | 0 | 0 | $0 |
| Stephen D. O'Brien | SVP; Pres & General Mngr NAWH | Feb. 13, 2026 M | 6,510 | 0 | 0 | $0 |
| Benjamin A Otchere | Vice President and Controller | Feb. 13, 2026 M | 2,148 | 0 | 0 | $0 |
| Jack Qiu | SVP - Pres. A. O. Smith China | Feb. 13, 2026 M | — | 0 | 0 | $0 |
| Douglas Samuel Karge | SVP - President NA Water Treat | Feb. 13, 2026 M | 3,890 | 0 | 0 | $0 |
| Kevin J. Wheeler | Executive Chairman | Feb. 13, 2026 M | 128,348 | 0 | 0 | $0 |
| James F Stern | Exec VP, Corp Dev, Strat & Sec | Feb. 13, 2026 M | 101,547 | 0 | 0 | $0 |
| Christopher T. Howe | SVP Chief Digital Info Officer | Feb. 9, 2026 A | — | 0 | 0 | $0 |
| Ming Cheng | SVP, CTO | Feb. 9, 2026 A | — | 0 | 0 | $0 |
| Curtis E Selby | Senior VP - H.R. & P.A. | Feb. 9, 2026 A | — | 0 | 0 | $0 |
| Paul J Jones | SVP, GC & Chief Compliance Off | Feb. 9, 2026 A | — | 0 | 0 | $0 |
| Stephanie Melissa Scheppele | SVP - CIO | Feb. 10, 2025 A | 3,309 | 0 | 0 | $0 |
| Robert J Heideman | Senior VP, CTO | Feb. 10, 2025 A | 8,889 | 0 | 0 | $0 |
| David R Warren | Senior VP & President and GM | Feb. 12, 2024 A | 13,228 | 0 | 0 | $0 |
| Mark A Petrarca | Senior Vice Pres. - H.R. & P.A | Feb. 12, 2024 A | 87,407 | 0 | 0 | $0 |
| Daniel L Kempken | SVP - Strategy & Corp. Dev. | Feb. 10, 2023 F | 9,087 | 0 | 0 | $0 |
| Anindadeb Vjaykumar Dasgupta | Senior Vice President | Feb. 11, 2022 M | 2,377 | 0 | 0 | $0 |
| Wallace E Goodwin | SVP; President, Lochinvar, LLC | Feb. 11, 2022 M | 17,892 | 0 | 0 | $0 |
| Patricia K Ackerman | Senior Vice President | Feb. 11, 2022 M | 1,802 | 0 | 0 | $0 |
| Helen E Gurholt | Vice President and Controller | May 4, 2021 S | 1,503 | 0 | 0 | $0 |
| Paul R Dana | SVP, Global Operations | Feb. 16, 2021 G | 4,021 | 0 | 0 | $0 |
| Peter R Martineau | Senior Vice President - CIO | Feb. 10, 2020 A | 5,220 | 0 | 0 | $0 |
| Randall S Bednar | Senior Vice President - CIO | Feb. 11, 2016 M | 41,910 | 0 | 0 | $0 |
| Steve W Rettler | Senior Vice President - CD | Feb. 10, 2014 A | 28,566 | 0 | 0 | $0 |
| Michael J Cole | Senior Vice President - Asia | Feb. 9, 2009 A | 14,157 | 0 | 0 | $0 |
| Ronald E Massa | Executive Vice President | Feb. 11, 2008 A | 23,178 | 0 | 0 | $0 |
| David W Romoser | Senior VP, Gen. Counsel & Sec | April 24, 2007 M | 39,537 | 0 | 0 | $0 |
| Charles J Bishop | Senior Vice President - CT | Feb. 9, 2007 A | 17,325 | 0 | 0 | $0 |
| Albert E Medice | Vice President - Europe | Nov. 23, 2005 M | 14,527 | 0 | 0 | $0 |
| Edward J Oconnor | Vice President - H.R. & P.A. | Oct. 12, 2004 A | 19,788 | 0 | 0 | $0 |
| Donald M Heinrich | Former - Senior Vice President | June 3, 2004 M | 29,465 | 0 | 0 | $0 |
| Ilham Kadri | Director | April 13, 2026 A | 23,579 | 0 | 0 | $0 |
| Lois M Martin | Director | April 13, 2026 A | 6,445 | 0 | 0 | $0 |
| Mark D Smith | Director | April 13, 2026 A | 118,504 | 0 | 0 | $0 |
| Christopher L Mapes | Director | April 13, 2026 A | 8,684 | 0 | 0 | $0 |
| Victoria M Holt | Director | April 13, 2026 A | 1,922 | 0 | 0 | $0 |
| Todd W Fister | Director | April 8, 2025 A | 4,094 | 0 | 0 | $0 |
| Michael M Larsen | Director | April 8, 2025 A | 11,425 | 0 | 0 | $0 |
| Ronald D Brown | Director | April 8, 2025 A | 0 | 0 | 0 | $0 |
| Ajita G Rajendra | Director | April 9, 2024 A | 58,577 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Smith Family Voting Trust ×3 filings | Feb. 25, 2019 | — | Initial filing | — | SEC |
| Smith Investment Company, Arthur O. Smith N/A, Bruce M. Smith N/A ×3 filings | May 6, 2009 | — | Initial filing | — | SEC |
| Smith Family Trusts N/A ×3 filings | April 27, 2009 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 156 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| AQWA · Global X Funds | 3.49% | 14,621 NS | May 31, 2026 | N-PORT |
| STNC · Hennessy Funds Trust | 2.40% | 35,590 NS | April 30, 2026 | N-PORT |
| PHO · Invesco Exchange-Traded Fund Trust | 2.39% | 778,147 SH | Aug. 8, 2026 | Daily |
| ABLD · Abacus FCF ETF Trust | 2.21% | 30,528 NS | April 30, 2026 | N-PORT |
| FLV · AMERICAN CENTURY ETF TRUST | 2.04% | 127,026 NS | May 31, 2026 | N-PORT |
| FDIV · EA Series Trust | 1.91% | 22,436 NS | April 30, 2026 | N-PORT |
| OUSM · ALPS ETF Trust | 1.54% | 238,117 NS | May 31, 2026 | N-PORT |
| QDIV · Global X Funds | 1.50% | 8,626 NS | May 31, 2026 | N-PORT |
| EPSB · Harbor ETF Trust | 1.47% | 1,104 NS | April 30, 2026 | N-PORT |
| KNG · First Trust Exchange-Traded Fund IV | 1.38% | 754,410 NS | April 30, 2026 | N-PORT |
| NOBL · ProShares Trust | 1.28% | 2,496,049 NS | May 31, 2026 | N-PORT |
| RSPN · Invesco Exchange-Traded Fund Trust | 1.26% | 210,840 SH | Aug. 8, 2026 | Daily |
| TBLU · Tortoise Capital Series Trust | 1.02% | 9,481 NS | May 31, 2026 | N-PORT |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.80% | 90,646 NS | April 30, 2026 | N-PORT |
| HOMZ · ETF Series Solutions | 0.72% | 4,332 NS | May 31, 2026 | N-PORT |
| SDVD · First Trust Exchange-Traded Fund IV | 0.71% | 95,403 NS | April 30, 2026 | N-PORT |
| SMMV · iShares Trust | 0.65% | 29,774 SH | Aug. 8, 2026 | Daily |
| FFLC · FIDELITY COVINGTON TRUST | 0.54% | 98,989 NS | April 30, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.42% | 12,100 NS | May 31, 2026 | N-PORT |
| QDF · FlexShares Trust | 0.38% | 129,690 NS | April 30, 2026 | N-PORT |
| AFLG · First Trust Exchange-Traded Fund VI… | 0.30% | 34,074 NS | May 31, 2026 | N-PORT |
| SZNE · Pacer Funds Trust | 0.28% | 599 NS | April 30, 2026 | N-PORT |
| VUSE · ETF Series Solutions | 0.27% | 33,240 NS | May 31, 2026 | N-PORT |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.25% | 20,797 NS | April 30, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.25% | 17,649 NS | April 30, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.22% | 16,922 SH | Aug. 8, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.21% | 3,243,414 SH | Aug. 8, 2026 | Daily |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.21% | 14,891 NS | April 30, 2026 | N-PORT |
| MADE · iShares Trust | 0.21% | 2,090 SH | Aug. 8, 2026 | Daily |
| BFOR · ALPS ETF Trust | 0.20% | 7,412 NS | May 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.19% | 1,484,286 SH | Aug. 8, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.19% | 18,932 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.18% | 21,362 NS | April 30, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.17% | 18,663 NS | May 31, 2026 | N-PORT |
| HQGO · Lattice Strategies Trust | 0.17% | 1,293 NS | April 30, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.15% | 14,625 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.14% | 46,201 NS | April 30, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.14% | 6,583 NS | May 29, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.14% | 51,994 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.12% | 303,642 NS | May 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.11% | 135,727 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.11% | 245,107 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.11% | 11,882 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.10% | 4,623 SH | Aug. 8, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 0.10% | 33,802 NS | April 30, 2026 | N-PORT |
| ISCG · iShares Trust | 0.10% | 15,808 SH | Aug. 8, 2026 | Daily |
| VALQ · AMERICAN CENTURY ETF TRUST | 0.10% | 6,037 NS | May 31, 2026 | N-PORT |
| SMMD · iShares Trust | 0.09% | 56,046 SH | Aug. 8, 2026 | Daily |
| GMOV · GMO ETF Trust | 0.09% | 1,470 NS | May 31, 2026 | N-PORT |
| DUSL · Direxion Shares ETF Trust | 0.09% | 789 NS | April 30, 2026 | N-PORT |