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Aaon vs Tecogen: revenue, profit, margins and growth compared

Aaon brought in $1.4B of revenue in fiscal 2025, Tecogen $27.1M in fiscal 2025. Revenue changed by +20.1% at Aaon and +19.7% at Tecogen on the year before, so Aaon grew faster. Aaon kept 7.5% of its revenue as net profit, Tecogen -30.5%.

Side by side, latest fiscal year

AAONTGEN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.4B$27.1M
Revenue growth+20.1%+19.7%
Net income$107.6M-$8.2M
Net margin7.5%-30.5%
Free cash flown/a-$10.3M
Free cash flow marginn/a-38.1%
Earnings per share (diluted)$1.29-$0.30
Cash$13K$12.4M
Debtn/an/a
Price to earnings69.1n/a
Market value$7.3B$92.1M
Dividend yield0.45%n/a
Rank by revenue in sector#247 of 451 · Industrials#419 of 451 · Industrials

Over the years

Revenue
AAON FY2018: $433.9MAAON FY2019: $469.3MAAON FY2020: $514.6MAAON FY2021: $534.5MAAON FY2022: $888.8MAAON FY2023: $1.2BAAON FY2024: $1.2BAAON FY2025: $1.4BTGEN FY2018: $35.9MTGEN FY2019: $33.4MTGEN FY2020: $28.3MTGEN FY2021: $24.4MTGEN FY2022: $25MTGEN FY2023: $25.1MTGEN FY2024: $22.6MTGEN FY2025: $27.1MFY18FY19FY20FY21FY22FY23FY24FY25
AAON $1.4BTGEN $27.1M
Net income
AAON FY2018: $42.3MAAON FY2019: $53.7MAAON FY2020: $79MAAON FY2021: $58.8MAAON FY2022: $100.4MAAON FY2023: $177.6MAAON FY2024: $168.6MAAON FY2025: $107.6MTGEN FY2018: -$5.7MTGEN FY2019: -$4.7MTGEN FY2020: -$6.2MTGEN FY2021: $3.7MTGEN FY2022: -$2.4MTGEN FY2023: -$4.6MTGEN FY2024: -$4.8MTGEN FY2025: -$8.2MFY18FY19FY20FY21FY22FY23FY24FY25
AAON $107.6MTGEN -$8.2M
Net margin
AAON FY2018: 9.8%AAON FY2019: 11.4%AAON FY2020: 15.4%AAON FY2021: 11.0%AAON FY2022: 11.3%AAON FY2023: 15.2%AAON FY2024: 14.0%AAON FY2025: 7.5%TGEN FY2018: -15.9%TGEN FY2019: -14.1%TGEN FY2020: -21.8%TGEN FY2021: 15.1%TGEN FY2022: -9.8%TGEN FY2023: -18.3%TGEN FY2024: -21.0%TGEN FY2025: -30.5%FY18FY19FY20FY21FY22FY23FY24FY25
AAON 7.5%TGEN -30.5%
Revenue growth
AAON FY2019: +8.2%AAON FY2020: +9.6%AAON FY2021: +3.9%AAON FY2022: +66.3%AAON FY2023: +31.5%AAON FY2024: +2.7%AAON FY2025: +20.1%TGEN FY2019: -6.8%TGEN FY2020: -15.5%TGEN FY2021: -13.6%TGEN FY2022: +2.5%TGEN FY2023: +0.5%TGEN FY2024: -10.0%TGEN FY2025: +19.7%FY19FY20FY21FY22FY23FY24FY25
AAON +20.1%TGEN +19.7%
Free cash flow
AAON FY2018: $17.6MAAON FY2019: $60.8MAAON FY2020: $61MAAON FY2021: $5.8MAAON FY2022: $7.3MTGEN FY2018: -$4.7MTGEN FY2019: -$4.6MTGEN FY2020: $1.3MTGEN FY2021: $373.6KTGEN FY2022: -$1.7MTGEN FY2023: -$864.7KTGEN FY2024: $3.1MTGEN FY2025: -$10.3MFY18FY19FY20FY21FY22FY23FY24FY25
AAON $7.3MTGEN -$10.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Aaon and Tecogen

Which is bigger by revenue, Aaon or Tecogen?

Aaon is bigger by revenue: $1.4B in fiscal 2025, against $27.1M for Tecogen in fiscal 2025.

Which keeps more of its revenue as profit, Aaon or Tecogen?

Aaon had a net margin of 7.5% in fiscal 2025; Tecogen had -30.5% in fiscal 2025.

Which grew revenue faster, Aaon or Tecogen?

In their latest fiscal years revenue changed by +20.1% at Aaon and +19.7% at Tecogen.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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