A.O. Smith Corp.
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, homes, apartments… Read more
A.O. Smith Corp. (0L7A) - Net Assets
Latest net assets as of December 2025: $1.86 Billion USD
Based on the latest financial reports, A.O. Smith Corp. (0L7A) has net assets worth $1.86 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.14 Billion) and total liabilities ($1.28 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.86 Billion |
| % of Total Assets | 59.12% |
| Annual Growth Rate | 5.3% |
| 5-Year Change | 1.41% |
| 10-Year Change | 22.62% |
| Growth Volatility | 8.78 |
A.O. Smith Corp. - Net Assets Trend (1985–2025)
This chart illustrates how A.O. Smith Corp.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for A.O. Smith Corp. (1985–2025)
The table below shows the annual net assets of A.O. Smith Corp. from 1985 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.86 Billion | -1.35% |
| 2024-12-31 | $1.88 Billion | +2.12% |
| 2023-12-31 | $1.84 Billion | +5.53% |
| 2022-12-31 | $1.75 Billion | -4.61% |
| 2021-12-31 | $1.83 Billion | -0.87% |
| 2020-12-31 | $1.85 Billion | +10.89% |
| 2019-12-31 | $1.67 Billion | -2.92% |
| 2018-12-31 | $1.72 Billion | +4.14% |
| 2017-12-31 | $1.65 Billion | +8.81% |
| 2016-12-31 | $1.52 Billion | +5.06% |
| 2015-12-31 | $1.44 Billion | +4.42% |
| 2014-12-31 | $1.38 Billion | +3.96% |
| 2013-12-31 | $1.33 Billion | +11.27% |
| 2012-12-31 | $1.19 Billion | +9.97% |
| 2011-12-31 | $1.09 Billion | +23.19% |
| 2010-12-31 | $881.40 Million | +11.60% |
| 2009-12-31 | $789.80 Million | +23.19% |
| 2008-12-31 | $641.10 Million | -15.40% |
| 2007-12-31 | $757.80 Million | +10.69% |
| 2006-12-31 | $684.60 Million | +11.70% |
| 2005-12-31 | $612.90 Million | +3.78% |
| 2004-12-31 | $590.60 Million | +2.50% |
| 2003-12-13 | $576.20 Million | +12.75% |
| 2002-12-31 | $511.05 Million | +13.10% |
| 2001-12-31 | $451.88 Million | +0.78% |
| 2000-12-31 | $448.39 Million | +4.02% |
| 1999-12-31 | $431.08 Million | +7.48% |
| 1998-12-31 | $401.09 Million | +0.35% |
| 1997-12-31 | $399.70 Million | -5.87% |
| 1996-12-31 | $424.64 Million | +12.24% |
| 1995-12-31 | $378.34 Million | +20.97% |
| 1994-12-31 | $312.75 Million | +15.99% |
| 1993-12-31 | $269.63 Million | +10.19% |
| 1992-12-31 | $244.70 Million | -14.71% |
| 1991-12-31 | $286.90 Million | +1.06% |
| 1990-12-31 | $283.90 Million | +4.72% |
| 1989-12-31 | $271.10 Million | -7.03% |
| 1988-12-31 | $291.60 Million | -0.03% |
| 1987-12-31 | $291.70 Million | +3.40% |
| 1986-12-31 | $282.10 Million | +19.74% |
| 1985-12-31 | $235.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to A.O. Smith Corp.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2351.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $3.95 Billion | 212.69% |
| Common Stock | $294.70 Million | 15.86% |
| Other Comprehensive Income | $-98.60 Million | -5.31% |
| Total Equity | $1.86 Billion | 100.00% |
A.O. Smith Corp. Competitors by Market Cap
The table below lists competitors of A.O. Smith Corp. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Simpson Manufacturing Company Inc
NYSE:SSD
|
$7.34 Billion |
|
SINOPHARM GROUP 1/5/O.N.
F:X2S1
|
$7.34 Billion |
|
Neles Oyj
HE:METSO_old
|
$7.35 Billion |
|
MTN Group Ltd PK
PINK:MTNOY
|
$7.35 Billion |
|
Aegon NV
AS:AGN
|
$7.34 Billion |
|
Klépierre SA
PINK:KLPEF
|
$7.33 Billion |
|
Henry Schein Inc
NASDAQ:HSIC
|
$7.32 Billion |
|
ASX Limited
PINK:ASXFF
|
$7.32 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in A.O. Smith Corp.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,883,500,000 to 1,858,000,000, a change of -25,500,000 (-1.4%).
- Net income of 546,200,000 contributed positively to equity growth.
- Dividend payments of 195,700,000 reduced retained earnings.
- Share repurchases of 400,800,000 reduced equity.
- Other comprehensive income increased equity by 13,300,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $546.20 Million | +29.4% |
| Dividends Paid | $195.70 Million | -10.53% |
| Share Repurchases | $400.80 Million | -21.57% |
| Other Comprehensive Income | $13.30 Million | +0.72% |
| Other Changes | $11.50 Million | +0.62% |
| Total Change | $- | -1.35% |
Book Value vs Market Value Analysis
This analysis compares A.O. Smith Corp.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.08x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 52.06x to 5.08x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $1.28 | $66.56 | x |
| 1986-12-31 | $1.53 | $66.56 | x |
| 1987-12-31 | $1.58 | $66.56 | x |
| 1988-12-31 | $1.58 | $66.56 | x |
| 1989-12-31 | $1.47 | $66.56 | x |
| 1990-12-31 | $1.54 | $66.56 | x |
| 1991-12-31 | $1.56 | $66.56 | x |
| 1992-12-31 | $1.33 | $66.56 | x |
| 1993-12-31 | $0.97 | $66.56 | x |
| 1994-12-31 | $1.11 | $66.56 | x |
| 1995-12-31 | $1.32 | $66.56 | x |
| 1996-12-31 | $1.50 | $66.56 | x |
| 1997-12-31 | $1.74 | $66.56 | x |
| 1998-12-31 | $2.76 | $66.56 | x |
| 1999-12-31 | $3.01 | $66.56 | x |
| 2000-12-31 | $3.15 | $66.56 | x |
| 2001-12-31 | $3.15 | $66.56 | x |
| 2002-12-31 | $3.08 | $66.56 | x |
| 2003-12-13 | $3.23 | $66.56 | x |
| 2004-12-31 | $3.29 | $66.56 | x |
| 2005-12-31 | $3.37 | $66.56 | x |
| 2006-12-31 | $3.68 | $66.56 | x |
| 2007-12-31 | $4.08 | $66.56 | x |
| 2008-12-31 | $3.53 | $66.56 | x |
| 2009-12-31 | $5.50 | $66.56 | x |
| 2010-12-31 | $4.77 | $66.56 | x |
| 2011-12-31 | $5.83 | $66.56 | x |
| 2012-12-31 | $6.41 | $66.56 | x |
| 2013-12-31 | $7.16 | $66.56 | x |
| 2014-12-31 | $7.59 | $66.56 | x |
| 2015-12-31 | $8.06 | $66.56 | x |
| 2016-12-31 | $8.57 | $66.56 | x |
| 2017-12-31 | $9.44 | $66.56 | x |
| 2018-12-31 | $9.97 | $66.56 | x |
| 2019-12-31 | $10.00 | $66.56 | x |
| 2020-12-31 | $11.37 | $66.56 | x |
| 2021-12-31 | $11.36 | $66.56 | x |
| 2022-12-31 | $11.22 | $66.56 | x |
| 2023-12-31 | $12.21 | $66.56 | x |
| 2024-12-31 | $12.81 | $66.56 | x |
| 2025-12-31 | $13.09 | $66.56 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently A.O. Smith Corp. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 29.40%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.26%
- • Asset Turnover: 1.22x
- • Equity Multiplier: 1.69x
- Recent ROE (29.40%) is above the historical average (14.33%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 11.80% | 3.10% | 1.85x | 2.06x | $4.24 Million |
| 1986 | 10.28% | 3.18% | 1.31x | 2.46x | $790.00K |
| 1987 | 5.28% | 1.59% | 1.42x | 2.34x | $-13.77 Million |
| 1988 | 6.52% | 1.87% | 1.26x | 2.77x | $-10.16 Million |
| 1989 | -1.84% | -0.51% | 1.23x | 2.94x | $-32.11 Million |
| 1990 | 10.74% | 3.26% | 1.19x | 2.78x | $2.11 Million |
| 1991 | 1.74% | 0.57% | 1.17x | 2.63x | $-23.69 Million |
| 1992 | -7.07% | -1.65% | 1.36x | 3.14x | $-41.77 Million |
| 1993 | 15.83% | 3.57% | 1.45x | 3.05x | $15.71 Million |
| 1994 | 18.34% | 4.18% | 1.62x | 2.71x | $26.07 Million |
| 1995 | 16.49% | 3.98% | 1.62x | 2.56x | $24.18 Million |
| 1996 | 15.41% | 8.37% | 0.88x | 2.08x | $22.95 Million |
| 1997 | 38.49% | 18.47% | 1.16x | 1.79x | $113.86 Million |
| 1998 | 11.09% | 4.85% | 1.20x | 1.91x | $4.38 Million |
| 1999 | 9.84% | 4.08% | 0.98x | 2.47x | $-686.40K |
| 2000 | 6.64% | 2.38% | 1.18x | 2.36x | $-15.09 Million |
| 2001 | 3.21% | 1.26% | 0.89x | 2.86x | $-30.69 Million |
| 2002 | 10.05% | 3.49% | 1.20x | 2.40x | $239.80K |
| 2003 | 9.06% | 3.41% | 1.20x | 2.22x | $-5.42 Million |
| 2004 | 5.99% | 2.14% | 1.26x | 2.22x | $-23.66 Million |
| 2005 | 7.59% | 2.75% | 1.31x | 2.11x | $-14.79 Million |
| 2006 | 11.17% | 3.54% | 1.17x | 2.69x | $8.04 Million |
| 2007 | 11.64% | 3.81% | 1.25x | 2.45x | $12.42 Million |
| 2008 | 12.77% | 3.55% | 1.22x | 2.94x | $17.79 Million |
| 2009 | 10.29% | 4.08% | 1.05x | 2.41x | $2.32 Million |
| 2010 | 12.67% | 7.50% | 0.71x | 2.40x | $23.56 Million |
| 2011 | 28.15% | 17.87% | 0.73x | 2.16x | $197.12 Million |
| 2012 | 13.62% | 8.38% | 0.85x | 1.91x | $43.19 Million |
| 2013 | 12.77% | 7.88% | 0.90x | 1.80x | $36.83 Million |
| 2014 | 15.04% | 8.82% | 0.94x | 1.82x | $69.67 Million |
| 2015 | 19.61% | 11.15% | 0.96x | 1.82x | $138.67 Million |
| 2016 | 21.55% | 12.16% | 0.93x | 1.91x | $174.97 Million |
| 2017 | 17.98% | 9.89% | 0.94x | 1.94x | $131.62 Million |
| 2018 | 25.87% | 13.93% | 1.04x | 1.79x | $272.50 Million |
| 2019 | 22.20% | 12.36% | 0.98x | 1.83x | $203.32 Million |
| 2020 | 18.66% | 11.91% | 0.92x | 1.71x | $160.07 Million |
| 2021 | 26.59% | 13.76% | 1.02x | 1.90x | $303.88 Million |
| 2022 | 13.49% | 6.28% | 1.13x | 1.91x | $60.93 Million |
| 2023 | 30.18% | 14.45% | 1.20x | 1.74x | $372.16 Million |
| 2024 | 28.33% | 13.98% | 1.18x | 1.72x | $345.25 Million |
| 2025 | 29.40% | 14.26% | 1.22x | 1.69x | $360.40 Million |
Industry Comparison
This section compares A.O. Smith Corp.'s net assets metrics with peer companies in the same industry.
Industry Context
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| A.O. Smith Corp. (0L7A) | $1.86 Billion | 11.80% | 0.69x | $7.34 Billion |
| Nyfosa AB (0A0K) | $3.48 Billion | 34.90% | 2.92x | $966.63 Million |
| Tethys Oil AB (0A1V) | $56.23 Million | 21.07% | 0.01x | $122.95 Million |
| High Templar Tech Limited (0A2T) | $11.29 Billion | 0.81% | 0.10x | $258.25 Million |
| Strategy Inc (0A7O) | $361.50 Million | 1.39% | 0.55x | $38.08 Billion |
| NACON SASU (0A9N) | $210.72 Million | 8.63% | 0.51x | $7.82 Million |
| Antin Infrastructure Partners (0AA5) | $32.26 Million | 152.50% | 1.23x | $545.92 Million |
| Truecaller AB Series B (0AA7) | $1.51 Billion | 34.81% | 0.30x | $277.14 Million |
| Brockhaus Technologies AG (0AAW) | $315.34 Million | 15.55% | 1.46x | $74.17 Million |
| Hyloris Pharmaceuticals S.A. (0AB6) | $-10.19 Million | 0.00% | 0.00x | $71.96 Million |
| Kalray S.A. (0ABT) | $39.07 Million | -59.55% | 1.26x | $33.84 Million |