A. O. Smith Corporation is a leading global manufacturer of residential and commercial water heaters, boilers, and water treatment products. Headquartered in Milwaukee, Wisconsin, the company operates primarily in North America, China, India, and Europe. It is known for its prominent market share in North American water heating and its strategic expansion into water purification solutions.
Sales to A. O. Smith's five largest customers represented approximately 41 percent of total sales in 2025, and the company expects this customer concentration to continue for the foreseeable future. Within the North America segment, its two largest customers accounted for approximately 16 percent ($599.7 million) and 12 percent ($467.8 million) of net sales in 2025.