A. O. Smith Corp Stock Research

Market Summary

USD67.37+0.70

Market Closed

1.05%

AOS Alerts

1 major insider buys and 3 major insider sales recently.
Big fall in earnings (Y/Y)
Losses in recent quarter

AOS Stock Price

AOS RSI Chart

AOS Valuation

AOS Price/Sales (Trailing)

AOS Profitability

EBT Margin

5.96%

Return on Equity

13.49%

Return on Assets

7.07%

AOS Fundamentals

AOS Revenue

Revenue (TTM)

3.8B

Revenue Y/Y

-5.97%

Revenue Q/Q

7.08%

AOS Earnings

Earnings (TTM)

235.7M

Earnings Y/Y

-186.03%

Earnings Q/Q

-209.38%

Price Action

52 Week Range

46.3171.87

(Low)(High)

Last 7 days

-0.5%

Last 30 days

-2%

Last 90 days

17.4%

Trailing 12 Months

2.3%

AOS Financial Health

Current Ratio

1.75

Debt/Equity

0.11

Debt/Cashflow

2.54

AOS Investor Care

Dividend Yield

1.66%

Dividend/Share (TTM)

1.12

Diluted EPS (TTM)

1.51

Peers (Alternatives to A O Smith)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
TT	42.0B	16.0B	-4.32%	17.26%	23.92	2.63	13.12%	23.40%
CARR	37.1B	20.4B	-4.69%	-3.02%	10.36	1.82	-0.93%	110.70%
BLDR	11.4B	22.7B	-2.68%	8.41%	4.16	0.5	14.24%	59.35%
MID-CAP
LII	8.7B	4.7B	-8.96%	-9.10%	17.47	1.84	12.50%	7.13%
FBHS	7.7B	4.7B	-5.00%	-39.38%	11.25	1.64	-1.63%	-11.10%
WMS	5.8B	3.1B	-13.98%	-32.00%	12.43	1.85	23.54%	90.99%
TREX	5.2B	1.1B	-14.86%	-33.62%	28.21	4.71	-7.60%	-11.55%
AAON	4.9B	888.8M	13.51%	62.93%	48.84	5.52	66.28%	70.83%
CSWI	2.1B	735.5M	-5.93%	12.47%	23.82	2.84	25.40%	50.53%
SMALL-CAP
ROCK	1.7B	1.4B	-16.88%	-0.04%	20.05	1.19	3.75%	8.96%
PGTI	1.3B	1.5B	-8.92%	0.53%	13.24	0.86	28.46%	209.28%
NX	662.9M	1.2B	-26.75%	-13.78%	7.5	0.54	13.93%	55.03%
IIIN	537.1M	815.3M	-10.08%	-28.13%	4.75	0.66	25.53%	38.49%
APT	50.4M	63.0M	-8.58%	-	15.19	0.8	-25.47%	-75.19%

Financials for A O Smith

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-1.6%	3,754	3,813	3,854	3,748	3,539
Gross Profit	-0.9%	1,330	1,342	1,377	1,364	1,311
S&GA Expenses	-2.2%	671	686	708	715	701
EBITDA	-57.7%	310	732	753	740	708
EBITDA Margin	-57.0%	0.08*	0.19*	0.20*	0.20*	0.20*
Earnings Before Taxes	-65.5%	224	648	670	656	626
EBT Margin	-65.0%	0.06*	0.17*	0.17*	0.18*	0.18*
Interest Expenses	27.0%	9.00	7.00	6.00	5.00	4.00
Net Income	-52.4%	236	495	517	509	487
Net Income Margin	-51.7%	0.06*	0.13*	0.13*	0.14*	0.14*
Free Cahsflow	-18.3%	391	479	500	553	641

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	3.1%	3,332	3,232	3,321	3,435	3,474
Current Assets	4.1%	1,634	1,570	1,631	1,721	1,753
Cash Equivalents	9.0%	391	359	359	406	443
Inventory	-1.8%	516	526	493	489	448
Net PPE	1.2%	591	584	593	603	607
Goodwill	0.1%	620	619	627	629	628
Liabilities	6.8%	1,585	1,484	1,529	1,626	1,642
Current Liabilities	3.7%	934	901	928	1,002	1,119
Long Term Debt	-	197	-	-	-	-
LT Debt, Current	47.1%	10.00	7.00	7.00	7.00	7.00
LT Debt, Non Current	19.0%	335	281	292	289	190
Shareholder's Equity	0.0%	1,748	1,748	1,793	1,809	1,832
Retained Earnings	-5.4%	2,885	3,051	2,985	2,902	2,827
Additional Paid-In Capital	0.2%	556	555	553	551	545
Accumulated Depreciation	0.3%	756	754	751	737	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-18.3%	391	479	500	553	641
Share Based Compensation	-7.5%	11.00	12.00	12.00	12.00	12.00
Cashflow From Investing	105.2%	8.00	-156	-259	-360	-349
Cashflow From Financing	-4.4%	-430	-412	-325	-365	-421
Dividend Payments	0.8%	177	176	174	172	170
Buy Backs	-7.6%	404	437	359	407	367

Risks for AOS

What is the probability of a big loss on AOS?

70%

Probability that A O Smith stock will be more than 20% underwater in next one year

47.3%

Probability that A O Smith stock will be more than 30% underwater in next one year.

5.8%

Probability that A O Smith stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AOS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if A O Smith was unfortunately bought at previous high price.

Drawdowns

Returns for AOS

Cumulative Returns on AOS

15.4%

10-Year Cumulative Returns

10.6%

7-Year Cumulative Returns

2.1%

5-Year Cumulative Returns

19.1%

3-Year Cumulative Returns

What are the long-term rolling returns for AOS?

FIve years rolling returns for A O Smith.

Annualized Returns

Which funds bought or sold AOS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	BAILLIE GIFFORD & CO	unchanged	-	2,054	15,054	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-3.66	8,188,140	68,770,100	0.07%
2023-03-06	Rockefeller Capital Management L.P.	added	11.93	1,230,000	5,082,000	0.03%
2023-02-28	Voya Investment Management LLC	reduced	-50.53	-2,583,420	3,610,580	-%
2023-02-27	ST GERMAIN D J CO INC	new	-	2,243	2,243	-%
2023-02-24	NATIXIS	added	33.38	4,072,850	11,376,900	0.06%
2023-02-22	IMS Capital Management	added	1.12	87,238	544,238	0.35%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	101,000	670,000	0.01%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	3.01	19,736	113,736	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-8.96	6,830,430	100,719,000	0.12%

Latest Funds Activity

Are funds buying AOS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own AOS

No. of Funds

AOS Alerts

1 major insider buys and 3 major insider sales recently.
Big fall in earnings (Y/Y)
Losses in recent quarter

A O Smith News

Schedule 13G FIlings of A O Smith

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	11.56%	14,669,923	SC 13G/A
Feb 08, 2023	state street corp	7.38%	9,368,072	SC 13G/A
Feb 03, 2023	blackrock inc.	7.9%	10,027,115	SC 13G/A
Feb 10, 2022	state street corp	6.69%	8,910,863	SC 13G/A
Feb 09, 2022	vanguard group inc	11.33%	15,095,155	SC 13G/A
Feb 01, 2022	blackrock inc.	7.4%	9,806,373	SC 13G/A
Feb 10, 2021	vanguard group inc	11.14%	15,088,262	SC 13G/A
Feb 05, 2021	state street corp	6.26%	8,472,899	SC 13G
Jan 29, 2021	blackrock inc.	8.4%	11,308,265	SC 13G/A
Feb 13, 2020	state street corp	6.77%	9,276,979	SC 13G

AOS Fair Value

Recent SEC filings of A O Smith

View All Filings

Date Filed	Form Type	Document
Mar 09, 2023	4	Insider Trading
Mar 02, 2023	ARS	ARS
Mar 02, 2023	DEF 14A	DEF 14A
Feb 22, 2023	4/A	Insider Trading
Feb 15, 2023	4	Insider Trading
Feb 15, 2023	4	Insider Trading
Feb 15, 2023	4	Insider Trading
Feb 15, 2023	4	Insider Trading
Feb 15, 2023	4	Insider Trading
Feb 15, 2023	4	Insider Trading

Latest Insider Trading transactions for AOS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-06	Larsen Michael M	bought	267,540	66.885	4,000	-
2023-02-15	Heideman Robert J	sold	-826,817	67.3139	-12,283	senior vp, cto
2023-02-15	Heideman Robert J	acquired	520,676	42.39	12,283	senior vp, cto
2023-02-10	Kempken Daniel L	sold (taxes)	-43,230	65.8	-657	svp - strategy & corp. dev.
2023-02-10	Warren David R	acquired	-	-	4,670	senior vp & president and gm
2023-02-10	Carver Samuel M.	acquired	-	-	1,155	svp - global operations
2023-02-10	Warren David R	sold (taxes)	-126,862	65.8	-1,928	senior vp & president and gm
2023-02-10	Karge Douglas Samuel	acquired	-	-	975	svp - president na water treat
2023-02-10	STERN JAMES F	sold (taxes)	-188,254	65.8	-2,861	exec vp, general counsel & sec
2023-02-10	Petrarca Mark A	acquired	-	-	3,890	senior vice pres. - h.r. & p.a

About A O Smith

Kevin J. Wheeler

www.aosmith.com

13700

A. O. Smith Corporation manufactures and markets residential and commercial gas, heat pump and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; commercial boilers for hospitals, schools, hotels, and other large commercial buildings, as well as residential boilers for homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, on-the-go filtration bottles, point-of-use carbon, and reverse osmosis products for residences, restaurants, hotels, and offices. It also provides food and beverage filtration products; expansion tanks, commercial solar water heating systems, swimming pool and spa heaters, and related products and parts; and heat pumps, electric wall-hung, gas tankless, combi-boiler, heat pump and solar water heaters. The company offers its products primarily under the A. O. Smith, State, Lochinvar, and water softener brands. It distributes its products through independent wholesale plumbing distributors, as well as through retail channels consisting of hardware and home center chains, and manufacturer representative firms; and offers Aquasana branded products directly to consumers through e-commerce, as well as other online retailers. A. O. Smith Corporation was founded in 1874 and is headquartered in Milwaukee, Wisconsin.

AOS Income Statement

2022-12-31

CONSOLIDATED STATEMENT OF EARNINGS - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Income Statement [Abstract]

Net sales

$ 3,753.9

$ 3,538.9

$ 2,895.3

Cost of products sold

2,424.3

2,228.0

1,787.1

Gross profit

1,329.6

1,310.9

1,108.2

Selling, general and administrative expenses

670.9

701.4

660.3

Severance and restructuring expenses

0.0

7.7

Interest expense

9.4

4.3

7.3

Other expense (income), net

425.6

(20.4)

(11.0)

Earnings before provision for income taxes

223.7

625.6

443.9

(Benefit from) provision for income taxes

(12.0)

138.5

99.0

Net Earnings

$ 235.7

$ 487.1

$ 344.9

Net Earnings Per Share of Common Stock (in dollars per share)

^[1]

$ 1.52

$ 3.05

$ 2.13

Diluted Net Earnings Per Share of Common Stock (in dollars per share)

^[1]

$ 1.51

$ 3.02

$ 2.12

[1]	Earnings per share amounts are calculated discretely and, therefore, may not add up to the total due to rounding.

AOS Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 391.2	$ 443.3
Marketable securities	90.6	188.1
Receivables	581.2	634.4
Inventories	516.4	447.7
Other current assets	54.3	39.1
Total Current Assets	1,633.7	1,752.6
Net property, plant and equipment	590.7	606.7
Goodwill	619.7	627.8
Other intangibles	347.9	364.8
Operating lease assets	29.8	32.5
Other assets	110.5	90.0
Total Assets	3,332.3	3,474.4
Current Liabilities
Trade payables	625.8	745.9
Accrued payroll and benefits	75.7	113.4
Accrued liabilities	159.1	181.8
Product warranties	63.6	70.9
Long-term debt due within one year	10.0	6.8
Total Current Liabilities	934.2	1,118.8
Long-term debt	334.5	189.9
Product warranties	118.9	113.5
Pension liabilities	9.9	15.9
Long-term operating lease liabilities	22.4	22.3
Other liabilities	164.7	181.8
Total Liabilities	1,584.6	1,642.2
Commitments and contingencies	0.0	0.0
Stockholders’ Equity
Preferred Stock	0.0	0.0
Capital in excess of par value	555.9	545.2
Retained earnings	2,885.0	2,826.6
Accumulated other comprehensive loss	(82.4)	(331.4)
Treasury stock at cost	(1,905.7)	(1,503.4)
Total Stockholders’ Equity	1,747.7	1,832.2
Total Liabilities and Stockholders’ Equity	3,332.3	3,474.4
Class A Common Stock
Stockholders’ Equity
Common Stock, value	130.2	130.5
Common Stock
Stockholders’ Equity
Common Stock, value	$ 164.7	$ 164.7