AAON vs ECL vs JCI Stock Comparison

Aaon, Ecolab and Johnson Controls International Prices as of Oct 26, 2026 Peers: Industry group
AAON Aaon, Inc.
$70.80 -20.5% 1M -33.4% 1Y
Market cap
$6.22B
P/E
39.0x
Revenue (TTM)
$1.93B
Div. yield
–
HVAC Industrials
3 wins
ECL Ecolab Inc.
$288.96 +3.3% 1M +4.2% 1Y
Market cap
$82.36B
P/E
38.9x
Revenue (TTM)
$16.84B
Div. yield
0.01%
Water Treatment Industrials
2 wins

Head to Head

12 decided of 12

Johnson Controls International leads on 7 of the 12 questions below (Johnson Controls International 7, Aaon 3, Ecolab 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAAONECLJCILeader
Larger companyMarket capitalisation $6.22B $82.36B $94.07B JCI
Cheaper on earningsLower P/E, profitable companies only 39.0x 38.9x 26.3x JCI
Cheaper on forward earningsLower price / next fiscal year consensus EPS 31.7x 36.6x 30.1x JCI
Faster revenue growthRevenue growth, trailing twelve months +53.5% +7.1% +6.8% AAON
More profitableNet margin, trailing twelve months 8.2% 12.6% 14.3% JCI
Better return on capitalReturn on invested capital 12.7% 11.0% 10.5% AAON
Less leveragedLower net debt / EBITDA 1.5x 2.1x 2.3x AAON
Higher dividend yieldTrailing dividend yield 0.00% 0.01% 0.01% JCI
Better 1-year returnPrice return, last 12 months -33.4% +4.2% +30.6% JCI
Better 5-year returnAnnualised price return, 5 years +9.0%/yr +5.5%/yr +15.5%/yr JCI
Less volatileAnnualised volatility, 1 year 59.5% 21.9% 31.4% ECL
Higher overall scoreMean of the five percentile scores vs peers 41/100 66/100 44/100 ECL

Percentile Scorecard

AAONECLJCI

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAAONECLJCI
Valuation 7 #52 of 56 50 #11 of 21 15 #48 of 56
Growth 77 #13 of 52 83 #4 of 19 84 #9 of 52
Profitability 50 #26 of 51 88 #3 of 17 62 #20 of 51
Financial Health 67 #20 of 58 48 #12 of 22 25 #44 of 58
Shareholder Returns 5 #39 of 41 60 #5 of 11 35 #27 of 41
Overall 41 66 44
  • AAON ranked among 60 companies in Construction Products
  • ECL ranked among 22 companies in Environmental Equipment
  • JCI ranked among 60 companies in Construction Products

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAAONECLJCISPY
1 month -20.5%+3.3%-1.8% -0.8%
3 months -29.9%+6.3%+2.9% +3.5%
6 months -22.7%+7.9%+2.9% +7.0%
Year to date -7.1%+10.1%+23.2% +12.2%
1 year -33.4%+4.2%+30.6% +13.0%
3 years +31.7%+83.5%+205.9% +86.3%
3 years, per year +9.6%+22.5%+45.2% +23.1%
5 years +53.5%+30.7%+105.6% +68.6%
5 years, per year +9.0%+5.5%+15.5% +11.0%
10 years +264.4%+150.5%+234.5% +258.0%
10 years, per year +13.8%+9.6%+12.8% +13.6%

Risk

MeasureAAONECLJCISPY
Volatility, 1Y 59.5%21.9%31.4% 12.7%
Downside volatility, 1Y 57.7%22.0%32.6% 12.7%
Beta vs S&P 500, 1Y 2.190.481.14 1.00
Return / volatility, 1Y -0.560.190.98 1.02
Max drawdown, 5Y -53.6%-44.3%-43.1% -25.4%
From 52-week high -52.2%-6.3%-7.1% -1.8%
52-week high $148.25$308.35$158.77 $779.14
52-week low $68.85$245.73$110.85 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAAONECLJCI
P/E now vs peer median 36.5xmedian 19.4x 38.3xmedian 25.6x 25.1xmedian 19.4x
P/S now vs peer median 3.0xmedian 1.5x 4.8xmedian 2.5x 3.6xmedian 1.5x
EV/EBITDA now vs peer median 21.0xmedian 12.1x 22.9xmedian 19.1x 26.1xmedian 12.1x
P/FCF now vs peer median -49.1xmedian 16.1x 43.2xmedian 25.2x 28.2xmedian 16.1x
P/B now vs peer median 5.8xmedian 2.9x 8.0xmedian 2.0x 6.6xmedian 2.9x
PEG now vs peer median 16.77median 0.93 1.72median 1.54 1.00median 0.93

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAAONECLJCI
Revenue $1.93B $16.84B $25.00B
Gross profit $494.09M $7.43B $9.16B
Operating income $213.50M $2.85B $2.99B
Net income $159.29M $2.13B $3.58B
Free cash flow -$118.79M $1.87B $3.17B
EPS (diluted) $1.90 $7.50 $5.87
Cash & equivalents $13.00K $5.14B $641.00M
Total debt $435.00M $13.18B $9.48B
Shares (diluted) 83.72M 282.20M 610.00M
Enterprise value $6.22B $74.11B $91.80B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAAONECLJCI
P/E 36.5x 38.3x 25.1x
P/FCF -49.1x 43.2x 28.2x
P/Operating cash flow 67.5x 26.5x 25.2x
P/S 3.0x 4.8x 3.6x
P/B 5.8x 8.0x 6.6x
P/Tangible book 5.8x 12.2x 9.0x
EV/EBITDA 21.0x 22.9x 26.1x
EV/EBIT 29.4x 31.2x 32.9x
EV/Revenue 3.2x 5.3x 3.9x
EV/FCF -52.8x 47.5x 31.0x
EV/Operating cash flow 72.5x 29.1x 27.7x
PEG (3Y EPS CAGR) 16.77 1.72 1.00

Growth

14 metrics
MetricAAONECLJCI
Revenue growth (1Y) 53.5% 7.1% 6.8%
Revenue CAGR (3Y) 22.7% 4.5% 4.4%
Gross profit growth (1Y) 36.9% 7.5% 7.7%
Gross profit CAGR (3Y) 16.2% 9.4% 5.5%
Operating income growth (1Y) 39.0% -1.4% 14.1%
Operating income CAGR (3Y) 5.4% 18.4% 27.4%
Net income growth (1Y) 30.5% -1.0% 60.4%
Net income CAGR (3Y) 2.3% 21.3% 20.0%
EPS growth (1Y) 29.3% 0.2% 72.9%
EPS CAGR (3Y) 2.2% 22.3% 25.0%
Operating cash flow growth (1Y) 157.7% 16.5% 20.5%
Operating cash flow CAGR (3Y) -11.0% 13.9% 41.2%
Free cash flow growth (1Y) 33.7% 19.1% 29.8%
Free cash flow CAGR (3Y) -74.9% 12.2% 56.0%

Profitability

14 metrics
MetricAAONECLJCI
Gross margin 25.6% 44.1% 36.7%
EBITDA margin 15.5% 23.1% 15.1%
Operating margin 11.0% 16.9% 12.0%
Pretax margin 9.9% 15.6% 10.9%
Net margin 8.2% 12.6% 14.3%
FCF margin -6.1% 11.1% 12.7%
Operating cash flow margin 4.5% 18.1% 14.2%
Return on equity 16.4% 21.2% 27.0%
Return on assets 8.7% 7.8% 9.5%
Return on invested capital 12.7% 11.0% 10.5%
Return on capital employed 14.3% 13.3% 11.0%
Asset turnover 1.1x 0.6x 0.6x
Cash conversion (OCF / net income) 0.5x 1.4x 1.0x
Stock comp / revenue 1.0% 0.8% 0.5%

Financial Health

11 metrics
MetricAAONECLJCI
Debt / assets 23.3% 44.0% 24.4%
Debt / equity 0.4x 1.3x 0.7x
Net debt / EBITDA 1.5x 2.1x 2.3x
Debt / FCF -3.7x 7.0x 3.0x
Liabilities / assets 45.8% 66.3% 65.1%
Equity / assets 54.2% 33.7% 34.9%
Interest coverage – 17.6x –
Current ratio 3.0x 1.8x 1.0x
Quick ratio 1.9x 1.5x 0.9x
Cash ratio 0.0x 0.9x 0.1x
Altman Z-score 6.63 4.15 –

Shareholder Returns

7 metrics
MetricAAONECLJCI
Dividend yield 0.6% 1.0% 1.1%
Net buyback yield -0.6% 1.3% 6.6%
Shareholder yield -0.1% 2.3% 7.7%
Payout ratio (earnings) – 37.4% 27.3%
Payout ratio (FCF) – 42.6% 30.8%
Dividend growth (1Y) – 13.4% -0.3%
Dividend CAGR (3Y) – 9.3% 0.2%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAAONECLJCI
Forward P/E 31.7xFY2026 36.6xFY2026 30.1xFY2026
EPS, next fiscal year $2.23FY2026 $7.90FY2026 $4.90FY2026
EPS growth, next FY +65.2%FY2026 +4.9%FY2026 +30.3%FY2026
EPS growth, the year after +56.1% +23.2% +30.8%
Revenue, next fiscal year $2.44BFY2026 $17.26BFY2026 $26.80BFY2026
Revenue growth, next FY +69.6%FY2026 +7.3%FY2026 +13.6%FY2026
Revenue growth, the year after +16.8% +5.4% +6.3%
AAON estimates →ECL estimates →JCI estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAAONECLJCI
Held by institutions 78.7% 80.0% 89.5%
Institutions holding 469 1,710 1,597
Change in shares held, QoQ -7.0% +1.4% -1.1%
Institutions buying 241 762 790
Institutions selling 174 679 557
Buyers to sellers 1.39 1.12 1.42
AAON holders →ECL holders →JCI holders →

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

AAONECLJCI
AAON 1.00 0.11 0.47
ECL 0.11 1.00 0.16
JCI 0.47 0.16 1.00

Add a Peer

Largest companies in the same industry
AAON · HVAC
+TTTrane Technologies +CARRCarrier Global +FIXComfort Systems Usa +LIILennox International +AOSSmith A O +SPXCSPX Technologies +MODModine Manufacturing +CSWCsw Industrials
Plot all 12 HVAC stocks → Plot all 25 Water Treatment stocks →

Related Comparisons

AAON vs TTTrane Technologies AAON vs CARRCarrier Global AAON vs FIXComfort Systems Usa AAON vs LIILennox International

Frequently Asked Questions

Which is bigger, AAON, ECL and JCI?

Johnson Controls International (JCI) is the largest by market capitalisation: Aaon (AAON) $6.22B, Ecolab (ECL) $82.36B, Johnson Controls International (JCI) $94.07B.

Which stock is cheaper, AAON, ECL and JCI?

Johnson Controls International (JCI) trades on the lowest price-to-earnings ratio (Aaon (AAON) 39.0x, Ecolab (ECL) 38.9x, Johnson Controls International (JCI) 26.3x). On next year's consensus earnings, Johnson Controls International (JCI) is cheapest (Aaon (AAON) 31.7x, Ecolab (ECL) 36.6x, Johnson Controls International (JCI) 30.1x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Aaon (AAON) grew revenue fastest over the trailing twelve months: Aaon (AAON) +53.5%, Ecolab (ECL) +7.1%, Johnson Controls International (JCI) +6.8%.

Which company is more profitable?

Johnson Controls International (JCI) has the highest net margin (Aaon (AAON) 8.2%, Ecolab (ECL) 12.6%, Johnson Controls International (JCI) 14.3%). On return on invested capital, Aaon (AAON) leads (Aaon (AAON) 12.7%, Ecolab (ECL) 11.0%, Johnson Controls International (JCI) 10.5%).

Which stock has performed better?

Over the past year Johnson Controls International (JCI) returned the most: Aaon (AAON) -33.4%, Ecolab (ECL) +4.2%, Johnson Controls International (JCI) +30.6%. Over five years, Johnson Controls International (JCI) compounded fastest (Aaon (AAON) +9.0%/yr, Ecolab (ECL) +5.5%/yr, Johnson Controls International (JCI) +15.5%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Johnson Controls International (JCI) has the highest dividend yield: Aaon (AAON) 0.00%, Ecolab (ECL) 0.01%, Johnson Controls International (JCI) 0.01%. Aaon (AAON) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Ecolab (ECL) has been the steadiest (Aaon (AAON) 59.5%, Ecolab (ECL) 21.9%, Johnson Controls International (JCI) 31.4%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, AAON, ECL and JCI?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Johnson Controls International (JCI) leads on 7. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.