AOS vs LII vs SPXC Stock Comparison

Smith A O, Lennox International and SPX Technologies Prices as of Nov 4, 2026 Peers: Industry group
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AOS Smith A O Corp
$67.10 +17.8% 1M +3.0% 1Y
Market cap
$9.01B
P/E
18.4x
Revenue (TTM)
$3.80B
Div. yield
2.18%
HVAC Industrials
4 wins

Head to Head

12 decided of 12

Lennox International leads on 6 of the 12 questions below (Lennox International 6, Smith A O 4, SPX Technologies 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAOSLIISPXCLeader
Larger companyMarket capitalisation $9.01B $12.28B $7.68B LII
Cheaper on earningsLower P/E, profitable companies only 18.4x 16.5x 25.8x LII
Cheaper on forward earningsLower price / next fiscal year consensus EPS 18.6x 15.8x 17.9x LII
Faster revenue growthRevenue growth, trailing twelve months -0.7% +1.9% +20.2% SPXC
More profitableNet margin, trailing twelve months 13.0% 13.8% 11.5% LII
Better return on capitalReturn on invested capital 20.8% 27.6% 9.7% LII
Less leveragedLower net debt / EBITDA 0.6x 1.4x 2.2x AOS
Higher dividend yieldTrailing dividend yield 2.18% 1.48% 0.00% AOS
Better 1-year returnPrice return, last 12 months +3.0% -27.1% -28.2% AOS
Better 5-year returnAnnualised price return, 5 years -2.9%/yr +3.5%/yr +18.3%/yr SPXC
Less volatileAnnualised volatility, 1 year 28.3% 43.0% 40.5% AOS
Higher overall scoreMean of the five percentile scores vs peers 61/100 66/100 62/100 LII

Percentile Scorecard

AOSLIISPXC

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

AxisAOSLIISPXC
Valuation 66 #20 of 57 68 #19 of 57 36 #37 of 57
Growth 28 #39 of 54 49 #28 of 54 100 #1 of 54
Profitability 89 #7 of 53 98 #2 of 53 64 #20 of 53
Financial Health 78 #14 of 59 36 #38 of 59 50 #30 of 59
Shareholder Returns 46 #23 of 42 81 #9 of 42 –
Overall 61 66 62
  • AOS ranked among 59 companies in Construction Products
  • LII ranked among 59 companies in Construction Products
  • SPXC ranked among 59 companies in Construction Products

Price Performance

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

Returns

PeriodAOSLIISPXCSPY
1 month +17.8%-0.6%-13.3% -1.0%
3 months +6.2%-19.7%-28.7% -0.4%
6 months +9.9%-33.7%-27.9% +4.5%
Year to date +0.3%-26.1%-23.3% +12.4%
1 year +3.0%-27.1%-28.2% +13.6%
3 years -6.2%-7.3%+85.9% +76.4%
3 years, per year -2.1%-2.5%+23.0% +20.8%
5 years -13.5%+18.8%+131.4% +63.7%
5 years, per year -2.9%+3.5%+18.3% +10.4%
10 years +49.6%+148.2%+748.9% +267.7%
10 years, per year +4.1%+9.5%+23.9% +13.9%

Risk

MeasureAOSLIISPXCSPY
Volatility, 1Y 28.3%43.0%40.5% 12.8%
Downside volatility, 1Y 26.6%48.6%43.3% 12.7%
Beta vs S&P 500, 1Y 0.731.311.68 1.00
Return / volatility, 1Y 0.11-0.63-0.69 1.06
Max drawdown, 5Y -43.4%-51.0%-38.3% -25.4%
From 52-week high -16.6%-37.4%-37.8% -1.6%
52-week high $80.47$572.95$246.41 $779.14
52-week low $55.34$332.41$153.39 $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.

MultipleAOSLIISPXC
P/E now vs peer median 18.4xmedian 22.2x 16.5xmedian 22.2x 25.8xmedian 22.2x
P/S now vs peer median 2.4xmedian 1.7x 2.3xmedian 1.7x 3.0xmedian 1.7x
EV/EBITDA now vs peer median 12.4xmedian 13.9x 12.0xmedian 13.9x 15.9xmedian 13.9x
P/FCF now vs peer median 16.0xmedian 18.0x 14.7xmedian 18.0x 33.7xmedian 18.0x
P/B now vs peer median 4.9xmedian 2.8x 9.3xmedian 2.8x 3.1xmedian 2.8x
PEG now vs peer median 0.82median 1.06 1.28median 1.06 0.24median 1.06

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 monthsAOSLIISPXC
Revenue $3.80B $5.45B $2.60B
Gross profit $1.47B $1.78B $1.04B
Operating income $668.30M $1.03B $418.10M
Net income $494.60M $749.90M $298.10M
Free cash flow $561.70M $835.70M $228.00M
EPS (diluted) $3.63 $21.74 $5.89
Cash & equivalents $234.50M $43.30M $119.20M
Total debt $673.10M $1.62B $1.33B
Shares (diluted) 136.10M 34.50M 50.65M
Enterprise value $8.20B $12.09B $6.88B

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
MetricAOSLIISPXC
P/E 18.4x 16.5x 25.8x
P/FCF 16.0x 14.7x 33.7x
P/Operating cash flow 14.7x 12.4x 20.4x
P/S 2.4x 2.3x 3.0x
P/B 4.9x 9.3x 3.1x
P/Tangible book 7.3x 12.5x 8.2x
EV/EBITDA 12.4x 12.0x 15.9x
EV/EBIT 14.1x 13.5x 21.3x
EV/Revenue 2.5x 2.5x 3.4x
EV/FCF 16.8x 16.6x 39.0x
EV/Operating cash flow 15.4x 14.0x 23.7x
PEG (3Y EPS CAGR) 0.82 1.28 0.24

Growth

14 metrics
MetricAOSLIISPXC
Revenue growth (1Y) -0.7% 1.9% 20.2%
Revenue CAGR (3Y) 0.0% 3.4% 15.2%
Gross profit growth (1Y) -0.4% -1.6% 17.4%
Gross profit CAGR (3Y) 0.1% 6.3% 17.2%
Operating income growth (1Y) -7.2% -6.4% 22.8%
Operating income CAGR (3Y) -3.9% 11.7% 46.2%
Net income growth (1Y) -6.8% -13.3% 33.6%
Net income CAGR (3Y) 18.2% 11.6% 112.4%
EPS growth (1Y) -3.5% -11.6% 29.0%
EPS CAGR (3Y) 22.5% 12.8% 106.8%
Operating cash flow growth (1Y) -6.6% 44.6% 22.7%
Operating cash flow CAGR (3Y) -0.2% 20.7% 58.9%
Free cash flow growth (1Y) -1.8% 56.4% -16.5%
Free cash flow CAGR (3Y) 0.5% 27.5% 47.3%

Profitability

14 metrics
MetricAOSLIISPXC
Gross margin 38.6% 32.6% 39.9%
EBITDA margin 20.1% 21.2% 21.5%
Operating margin 17.6% 18.8% 16.1%
Pretax margin 16.8% 17.6% 15.0%
Net margin 13.0% 13.8% 11.5%
FCF margin 14.8% 15.3% 8.8%
Operating cash flow margin 16.1% 18.2% 14.5%
Return on equity 27.0% 57.4% 12.4%
Return on assets 13.6% 16.2% 6.8%
Return on invested capital 20.8% 27.6% 9.7%
Return on capital employed 24.0% 36.9% 11.1%
Asset turnover 1.0x 1.2x 0.6x
Cash conversion (OCF / net income) 1.2x 1.3x 1.3x
Stock comp / revenue 0.4% 0.4% 0.7%

Financial Health

11 metrics
MetricAOSLIISPXC
Debt / assets 18.4% 34.6% 27.5%
Debt / equity 0.4x 1.2x 0.5x
Net debt / EBITDA 0.6x 1.4x 2.2x
Debt / FCF 1.2x 1.9x 5.9x
Liabilities / assets 50.1% 71.9% 49.6%
Equity / assets 49.9% 28.1% 50.4%
Interest coverage 26.4x 16.2x 11.5x
Current ratio 1.6x 1.2x 1.8x
Quick ratio 1.0x 0.5x 1.1x
Cash ratio 0.3x 0.0x 0.2x
Altman Z-score 6.37 5.77 3.07

Shareholder Returns

7 metrics
MetricAOSLIISPXC
Dividend yield 2.2% 1.5% –
Net buyback yield 3.6% 3.6% –
Shareholder yield 5.8% 5.1% 0.0%
Payout ratio (earnings) 40.3% 24.4% –
Payout ratio (FCF) 35.5% 21.9% –
Dividend growth (1Y) 2.4% 8.7% –
Dividend CAGR (3Y) 3.1% 6.1% –

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.

ConsensusAOSLIISPXC
Forward P/E 18.6xFY2026 15.8xFY2026 17.9xFY2026
EPS, next fiscal year $3.60FY2026 $22.65FY2026 $8.57FY2026
EPS growth, next FY -6.5%FY2026 -2.2%FY2026 +26.8%FY2026
EPS growth, the year after +15.0% +7.9% +20.1%
Revenue, next fiscal year $3.73BFY2026 $5.75BFY2026 $2.64BFY2026
Revenue growth, next FY -2.6%FY2026 +10.5%FY2026 +16.4%FY2026
Revenue growth, the year after +3.9% +7.7% +14.6%
AOS estimates →LII estimates →SPXC estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAOSLIISPXC
Held by institutions 91.9% 77.3% 93.8%
Institutions holding 616 658 512
Change in shares held, QoQ +7.1% +1.8% +10.8%
Institutions buying 317 318 277
Institutions selling 226 236 162
Buyers to sellers 1.40 1.35 1.71
AOS holders →LII holders →SPXC 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.

AOSLIISPXC
AOS 1.00 0.62 0.27
LII 0.62 1.00 0.40
SPXC 0.27 0.40 1.00

Add a Peer

Largest companies in the same industry
AOS · HVAC
+TTTrane Technologies +JCIJohnson Controls International +CARRCarrier Global +FIXComfort Systems Usa +MODModine Manufacturing +CSWCsw Industrials +AAONAaon +LGNLegence
Plot all 49 HVAC stocks →

Related Comparisons

AOS vs TTTrane Technologies AOS vs JCIJohnson Controls International AOS vs CARRCarrier Global AOS vs FIXComfort Systems Usa

Frequently Asked Questions

Which is bigger, AOS, LII and SPXC?

Lennox International (LII) is the largest by market capitalisation: Smith A O (AOS) $9.01B, Lennox International (LII) $12.28B, SPX Technologies (SPXC) $7.68B.

Which stock is cheaper, AOS, LII and SPXC?

Lennox International (LII) trades on the lowest price-to-earnings ratio (Smith A O (AOS) 18.4x, Lennox International (LII) 16.5x, SPX Technologies (SPXC) 25.8x). On next year's consensus earnings, Lennox International (LII) is cheapest (Smith A O (AOS) 18.6x, Lennox International (LII) 15.8x, SPX Technologies (SPXC) 17.9x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

SPX Technologies (SPXC) grew revenue fastest over the trailing twelve months: Smith A O (AOS) -0.7%, Lennox International (LII) +1.9%, SPX Technologies (SPXC) +20.2%.

Which company is more profitable?

Lennox International (LII) has the highest net margin (Smith A O (AOS) 13.0%, Lennox International (LII) 13.8%, SPX Technologies (SPXC) 11.5%). On return on invested capital, Lennox International (LII) leads (Smith A O (AOS) 20.8%, Lennox International (LII) 27.6%, SPX Technologies (SPXC) 9.7%).

Which stock has performed better?

Over the past year Smith A O (AOS) returned the most: Smith A O (AOS) +3.0%, Lennox International (LII) -27.1%, SPX Technologies (SPXC) -28.2%. Over five years, SPX Technologies (SPXC) compounded fastest (Smith A O (AOS) -2.9%/yr, Lennox International (LII) +3.5%/yr, SPX Technologies (SPXC) +18.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Smith A O (AOS) has the highest dividend yield: Smith A O (AOS) 2.18%, Lennox International (LII) 1.48%, SPX Technologies (SPXC) 0.00%. SPX Technologies (SPXC) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Smith A O (AOS) has been the steadiest (Smith A O (AOS) 28.3%, Lennox International (LII) 43.0%, SPX Technologies (SPXC) 40.5%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, AOS, LII and SPXC?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Lennox International (LII) leads on 6. 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.