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    How AAON’s Expanded US$600 Million Credit Facility Will Impact AAON (AAON) Investors

    Simply Wall St·01/05/2026 00:21:08
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    • On December 29, 2025, AAON, Inc. amended its loan agreement with a syndicate of banks to exercise the accordion feature on its revolving credit facility, lifting total borrowing capacity from US$500.0 million to US$600.0 million while leaving all other terms unchanged.
    • This expanded credit line gives AAON extra room to fund working capital, capital projects, and growth programs as it responds to accelerating customer demand.
    • We’ll now examine how AAON’s expanded US$600.0 million credit capacity could reshape its investment narrative and future growth funding plans.

    Find companies with promising cash flow potential yet trading below their fair value.

    AAON Investment Narrative Recap

    To own AAON, you need to believe it can turn current operational growing pains into profitable growth in data center cooling and high efficiency HVAC. The expanded US$600.0 million credit facility supports near term funding for those initiatives, but does not remove the key near term risk around ERP execution and the margin pressure that can come with it. Overall, this financing tweak looks incremental rather than something that changes the story right away.

    The recent reaffirmation of AAON’s regular quarterly dividend of US$0.10 per share in November 2025 sits alongside this larger credit line and helps frame capital allocation trade offs. On one hand, AAON is keeping cash returns to shareholders intact; on the other, it is preserving balance sheet flexibility to support sizable capex and working capital needs tied to BasX and the Memphis facility, both central to the company’s main growth catalysts.

    But even with these growth investments, investors should be aware that...

    Read the full narrative on AAON (it's free!)

    AAON's narrative projects $1.9 billion revenue and $283.0 million earnings by 2028. This requires 15.3% yearly revenue growth and a $160.9 million earnings increase from $122.1 million today.

    Uncover how AAON's forecasts yield a $115.25 fair value, a 46% upside to its current price.

    Exploring Other Perspectives

    AAON 1-Year Stock Price Chart
    AAON 1-Year Stock Price Chart

    Four fair value estimates from the Simply Wall St Community span roughly US$95.67 to US$145 per share, underlining how far apart individual views can be. Against that backdrop, the increased credit capacity and ongoing ERP rollout risk give you strong reasons to compare several perspectives before deciding how AAON’s next phase might affect its longer term performance.

    Explore 4 other fair value estimates on AAON - why the stock might be worth as much as 83% more than the current price!

    Build Your Own AAON Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

    • A great starting point for your AAON research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.
    • Our free AAON research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate AAON's overall financial health at a glance.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.