AAON (AAON) vs Zurn Elkay Water Solutions (ZWS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Zurn Elkay Water Solutions (ZWS) has outperformed AAON (AAON) over the past year, losing 2.3% versus a loss of 15.4%. Over five years, AAON leads with a +86.7% price change compared with +29.6% for ZWS. Zurn Elkay Water Solutions is the larger company by market cap ($7.67 billion vs $7.09 billion), about 1.1 times the size, while AAON is growing revenue faster (+20.1% vs +8.3%).
On valuation, Zurn Elkay Water Solutions trades at a lower forward P/E (22.7x vs 24.6x for AAON). Zurn Elkay Water Solutions offers the higher dividend yield (0.91% vs 0.47%). Zurn Elkay Water Solutions converts more of its revenue into profit, with a net margin of 11.7% versus 7.5%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | AAON | ZWS |
|---|---|---|
| Share price | $85.95 | $46.24 |
| Market cap | $7.09B | $7.67B |
| 1-day change | -1.35% | -0.52% |
| YTD return | +14.27% | -0.54% |
| 1-year return | -15.44% | -2.30% |
| 5-year return | +86.71% | +29.60% |
| P/E ratio (TTM) | 45.24 | 28.72 |
| Forward P/E | 24.57 | 22.72 |
| EPS (TTM) | $1.90 | $1.61 |
| Dividend yield | 0.47% | 0.91% |
| Annual dividend | $0.40 | $0.42 |
| Revenue (latest FY) | $1.44B | $1.70B |
| Revenue growth (YoY) | +20.11% | +8.26% |
| Net income (latest FY) | $107.59M | $198.00M |
| Gross margin | 26.75% | 45.10% |
| Operating margin | 10.14% | 16.45% |
| Net margin | 7.46% | 11.68% |
| 52-week high | $150.46 | $55.00 |
| 52-week low | $73.19 | $43.06 |
| Distance from 52-week high | -42.88% | -15.93% |
| Analyst consensus | strong_buy | buy |
| Avg. price target upside | +56.78% | +25.43% |
| Average volume | 1.16M | 900.98K |
| Shares outstanding | 82.45M | 165.86M |
| Employees | 5,897 | 2,600 |
| Sector | Industrials | Industrials |
| Industry | Industrial Machinery/Components | Industrial Machinery/Components |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- ZWS has outperformed AAON by 13.1 percentage points over the past year.
- AAON trades at a higher earnings multiple (45.2x vs 28.7x trailing P/E).
- AAON grew revenue faster in its latest fiscal year (+20.11% vs +8.26%).
About AAON
AAON stock →AAON, Inc., together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX.
Industrials · Industrial Machinery/Components · 5,897 employees
About Zurn Elkay Water Solutions
ZWS stock →Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water dispensing and filtration products, such as filtered bottle filling stations, water fountains and water dispensers, and filtered faucets under the Elkay and Halsey Taylor brand names; filtered units including water filters; and water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, and thermostatic mixing valves under the Zurn and Wilkins brand names.
Industrials · Industrial Machinery/Components · 2,600 employees
AAON vs ZWS FAQ
Which is bigger, AAON or Zurn Elkay Water Solutions?
Zurn Elkay Water Solutions (ZWS) is larger, with a market capitalization of $7.67B compared with $7.09B for AAON (AAON).
Which stock has performed better over the past year, AAON or ZWS?
ZWS returned -2.30% over the past 12 months, compared with -15.44% for AAON (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, AAON or ZWS?
ZWS has the lower trailing P/E at 28.7, versus 45.2 for AAON. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, AAON or Zurn Elkay Water Solutions?
Zurn Elkay Water Solutions has the higher yield at 0.91%, compared with 0.47% for AAON.
Are AAON and Zurn Elkay Water Solutions in the same industry?
Yes. Both are classified in the Industrial Machinery/Components industry within the Industrials sector.