Smith A O (AOS) Gross Margin (2010 - 2026)
Smith an O's (AOS) quarterly Gross Margin came in at 38.61% in Q2 2026, down 65.0% on a YoY basis from 110.33% in Q2 2025, and little changed quarter-over-quarter from 38.67% in Q1 2026.
Analysis
Smith A O (AOS) Gross Margin (2010 - 2026) Analysis & Trends
Smith an O (AOS) has reported Gross Margin for 17 consecutive years, with 38.61% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin fell 65.0% year-over-year to 38.61%; the trailing twelve-month figure through Jun 2026 stood at 38.59% (up 39.0% YoY), and the FY2025 full-year result was 38.83%, up 70.0% from the prior year.
- Gross Margin steadied at 38.61% in Q2 2026 per AOS's latest filing, from 38.67% in the prior quarter.
- Across five years, Gross Margin topped out at 40.04% in Q2 2023 and bottomed at 34.62% in Q2 2022.
- Historically, Gross Margin has averaged 37.82% across 5 years, with a median of 38.51% in 2026.
- The sharpest annual moves came in 2022 and 2023: Gross Margin plunged 276 bps in 2022, then jumped 542 bps in 2023.
- Over 5 years, Gross Margin stood at 37.24% in 2022, then grew by 0 bps to 37.43% in 2023, then slipped by 1 bps to 37.06% in 2024, then climbed by 4 bps to 38.4% in 2025, then increased by 1 bps to 38.61% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 38.61%, 38.67%, and 38.4% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 97.32 Bn | 96.02 Bn | 2.26 Bn | 35.57% |
| 2 | Johnson Controls International | 88.44 Bn | 87.84 Bn | 2.47 Bn | 37.41% |
| 3 | Comfort Systems Usa | 59.52 Bn | 57.67 Bn | 844.23 Mn | 25.85% |
| 4 | Carrier Global | 47.35 Bn | 46.33 Bn | 1.94 Bn | 30.59% |
| 5 | Lennox International | 12.64 Bn | 12.59 Bn | 539.50 Mn | 34.91% |
| 6 | Modine Manufacturing | 9.98 Bn | 9.92 Bn | - | - |
| 7 | SPX Technologies | 9.61 Bn | 9.44 Bn | 272.80 Mn | 40.18% |
| 8 | Smith A O | 7.80 Bn | 7.62 Bn | 387.80 Mn | 38.61% |
| 9 | Aaon | 6.58 Bn | 6.58 Bn | 152.49 Mn | 24.32% |
| 10 | Legence | 6.12 Bn | 6.21 Bn | 220.23 Mn | 17.45% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.61% |
| Mar 31, 2026 | 38.67% |
| Dec 31, 2025 | 38.40% |
| Sep 30, 2025 | 38.67% |
| Jun 30, 2025 | 39.27% |
| Mar 31, 2025 | 38.95% |
| Dec 31, 2024 | 37.06% |
| Sep 30, 2024 | 37.37% |
| Jun 30, 2024 | 38.66% |
| Mar 31, 2024 | 39.30% |
| Dec 31, 2023 | 37.43% |
| Sep 30, 2023 | 37.99% |
| Jun 30, 2023 | 40.04% |
| Mar 31, 2023 | 38.71% |
| Dec 31, 2022 | 37.24% |
| Sep 30, 2022 | 34.89% |
| Jun 30, 2022 | 34.62% |
| Mar 31, 2022 | 34.94% |
| Dec 31, 2021 | 36.22% |
| Sep 30, 2021 | 37.21% |