A.O. Smith Corp

AOS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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A.O. Smith: Highly Consolidated North American Water Heater Industry Remains Conducive to Moats

Suryansh Sharma

May 20, 2026

A.O. Smith has leading North American water heater market share of 36% in residential and 52% in commercial. The firm gets about 20% of revenue from its international business, which is mostly in China.

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A.O. Smith Corp

A.O. Smith: Highly Consolidated North American Water Heater Industry Remains Conducive to Moats

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