AAON Inc (AAON)
Financial leverage ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 1,175,230 | 941,436 | 813,903 | 650,180 | 449,008 |
| Total stockholders’ equity | US$ in thousands | 824,582 | 735,224 | 560,714 | 466,170 | 350,865 |
| Financial leverage ratio | 1.43 | 1.28 | 1.45 | 1.39 | 1.28 |
December 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,175,230K ÷ $824,582K
= 1.43
AAON Inc's financial leverage ratio has shown fluctuations over the past five years. The ratio was 1.28 as of December 31, 2020, indicating that the company had $1.28 in debt for every dollar of equity. This ratio increased to 1.39 by the end of 2021, suggesting a higher level of leverage in the company's capital structure.
In 2022, the financial leverage ratio further increased to 1.45, indicating a continued rise in the company's reliance on debt financing. However, by the end of 2023, the ratio dropped back to 1.28, the level observed in 2020, which may suggest a potential deleveraging or a shift in the company's capital structure.
As of December 31, 2024, the financial leverage ratio increased again to 1.43, indicating that AAON Inc continued to have $1.43 in debt for every dollar of equity. Overall, the fluctuation in the financial leverage ratio over the years indicates changes in the company's capital structure and its use of debt to finance operations and growth.
Peer comparison
Dec 31, 2024