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Applied Industrial Technologies

AIT NYSE Trading Companies & Distributors Financials FY2017–FY2026

Applied Industrial Technologies' revenue rose 8.8% to $5.0 billion in fiscal 2026. Its operating margin was 11.1%, up from 10.9% a year earlier. Free cash flow was $461 million, down 1.0%. It paid out $390 million in dividends and buybacks, 85% of free cash flow. The diluted share count fell 2.5%.

Last close · Oct 23, 2026

$317.00

0.8%
Value it Compare
Revenue Total sales reported in the income statement.
$5.0B
8.8% vs prior year
Operating margin Operating income as a share of revenue.
11.1%
0.1 pts
Net income Profit after all expenses, interest and tax.
$415M
5.5%
Free cash flow Cash from operations minus capital spending.
$461M
1.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
20.8%
0.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$12.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
29.0x

What Applied Industrial Technologies does

No business description yet.

Legal name
APPLIED INDUSTRIAL TECHNOLOGIES, INC.
Fiscal year ends
June 30, 2026
Latest annual report
—
Accession · CIK
0000109563-26-000033
0000109563

Revenue and margins

Applied Industrial Technologies had $5.0B of revenue in fiscal 2026, up 8.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 13.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $461M in fiscal 2026, 9.3% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Applied Industrial Technologies returned $390M to shareholders in fiscal 2026, 85% of free cash flow. The diluted share count fell 2.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Applied Industrial Technologies yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$135M and divides by 37.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 28.9x · peers 28.2x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Applied Industrial Technologies can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $185M$344M$461M$388M$127M
Debt incl. finance leases $689M$622M$597M$572M$262M
Net debt / EBITDA 1.2x0.5x0.3x0.3x0.2x
Debt / equity 0.6x0.4x0.4x0.3x0.1x
Interest coverage 13.4x19.1x24.1x27.4x31.6x
Current ratio 2.7x3.1x3.5x3.3x2.6x
Quick ratio 1.8x2.1x2.6x2.4x1.8x
Total assets $2.5B$2.7B$3.0B$3.2B$3.0B
Total liabilities $1.3B$1.3B$1.3B$1.3B$1.1B
Shareholders' equity $1.1B$1.5B$1.7B$1.8B$1.9B
Net debt (− = net cash) $505M$278M$137M$184M$135M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$15.8M

6 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 26, 2026 Peter C WallaceDirector Sold 1,904 $340.45 $0.6M Form 4
Aug 18, 2026 David K. WellsVice President-CFO & Treasurer Sold 1,812 $355.10 $0.6M Form 4
Jun 18, 2026 Madhuri A AndrewsDirector Sold 3,845 $329.89 $1.3M Form 4
May 5, 2026 Warren E Hoffner IIIVP, General Mgr-Fluid Power Sold 8,000 $306.04 $2.4M Form 4
Feb 26, 2026 Peter C WallaceDirector Sold 5,000 $285.03 $1.4M Form 4
Feb 6, 2026 Warren E Hoffner IIIVP, General Mgr-Fluid Power Sold 4,000 $292.64 $1.2M Form 4
Feb 5, 2026 Jason W VasquezVP-Sales & Marketing-USSC Sold 5,447 $287.87 $1.6M Form 4
Feb 5, 2026 Warren E Hoffner IIIVP, General Mgr-Fluid Power Sold 4,000 $288.62 $1.2M Form 4
Feb 4, 2026 Neil A SchrimsherPresident and CEO, Director Sold 19,207 $285.85 $5.5M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✕ ✓ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✓
F-score 5 / 96 / 97 / 9
Accruals ratio 0.5%−3.2%−2.3%
Altman Z'' 7.707.558.06

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Applied Industrial Technologies AIT $12.0B 8.8% 11.1% 9.3% 20.8% 29.0x 7
MSC Industrial Direct MSM $6.4B 6.4% 8.0% 5.6% 13.2% 28.6x 8 Compare →
Watsco WSO $12.3B −5.0% 10.0% 7.4% 20.1% 27.8x 6 Compare →
Core & Main CNM $8.1B 2.8% 9.4% 7.9% 13.7% 17.3x 7 Compare →
Fastenal FAST $59.7B 8.7% 20.2% 12.8% 34.3% 42.2x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $2.6B $3.1B $3.5B $3.2B $3.2B $3.8B $4.4B $4.5B $4.6B $5.0B
Gross profit $738M $884M $1.0B $938M $936M $1.1B $1.3B $1.3B $1.4B $1.5B
Operating income $175M $226M $234M $89.0M $206M $358M $473M $496M $499M $550M
Interest expense $8.8M $24.1M $40.8M $37.3M $30.8M $26.8M $24.8M $20.5M $18.2M $17.4M
Pretax income $167M $205M $195M $55.2M $177M $330M $450M $498M $501M $544M
Income tax $33.1M $63.1M $50.5M $31.2M $32.3M $72.4M $103M $112M $108M $130M
Net income $134M $142M $144M $24.0M $145M $257M $347M $386M $393M $415M
Diluted EPS $3.40 $3.61 $3.68 $0.62 $3.68 $6.58 $8.84 $9.83 $10.12 $10.95
Diluted shares 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B
Cash flow
Cash from operations $165M $147M $181M $297M $242M $188M $344M $371M $492M $484M
Capital expenditure $17.0M $23.2M $19.0M $20.1M $15.9M $18.1M $26.5M $24.9M $27.2M $23.6M
Free cash flow $148M $124M $162M $277M $226M $169M $317M $347M $465M $461M
Depreciation and amortization $39.7M $49.9M $62.1M $62.7M $55.1M $53.6M $53.1M $52.4M $60.5M $65.9M
Stock-based compensation $3.6M $4.7M $4.5M $4.0M $9.0M $11.8M $12.4M $12.9M $12.0M $12.9M
Acquisitions $2.8M $776M $37.5M $37.2M $30.2M $7.0M $35.8M $72.1M $293M $11.4M
Share buybacks $8.2M $22.8M $11.2M $0.0M $40.1M $13.8M $0.7M $73.4M $153M $317M
Dividends paid $44.6M $45.9M $47.3M $48.9M $50.7M $51.8M $53.4M $55.9M $63.7M $72.6M
Dividends and buybacks $52.9M $68.6M $58.4M $48.9M $90.8M $65.6M $54.2M $129M $217M $390M
Balance sheet
Cash and short-term investments $105M $54.1M $108M $269M $258M $185M $344M $461M $388M $127M
Total debt $292M $964M $958M $934M $828M $689M $622M $597M $572M $262M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $883M $1.1B $1.1B $1.2B $1.2B $1.4B $1.6B $1.8B $1.7B $1.6B
Current liabilities $310M $433M $424M $426M $428M $500M $540M $501M $526M $612M
Inventory $345M $422M $448M $389M $363M $450M $501M $488M $505M $509M
Property and equipment, net $108M $121M $124M $122M $116M $112M $115M $119M $128M $132M
Total assets $1.4B $2.3B $2.3B $2.3B $2.3B $2.5B $2.7B $3.0B $3.2B $3.0B
Total liabilities $642M $1.5B $1.4B $1.4B $1.3B $1.3B $1.3B $1.3B $1.3B $1.1B
Shareholders' equity $745M $815M $897M $844M $933M $1.1B $1.5B $1.7B $1.8B $1.9B
Margins
Gross margin 28.4% 28.8% 29.0% 28.9% 28.9% 29.1% 29.2% 29.8% 30.3% 30.3%
Operating margin 6.8% 7.4% 6.7% 2.7% 6.4% 9.4% 10.7% 11.1% 10.9% 11.1%
EBITDA margin 8.3% 9.0% 8.5% 4.7% 8.1% 10.8% 11.9% 12.2% 12.3% 12.4%
Net margin 5.2% 4.6% 4.2% 0.7% 4.5% 6.8% 7.9% 8.6% 8.6% 8.4%
FCF margin 5.7% 4.0% 4.7% 8.5% 7.0% 4.5% 7.2% 7.7% 10.2% 9.3%
Returns
Return on capital 15.1% 11.8% 10.0% 2.7% 11.2% 17.7% 21.5% 21.6% 20.3% 20.8%
Return on capital employed 16.6% 15.4% 12.4% 4.7% 11.1% 18.9% 22.8% 21.3% 19.6% 21.8%
Return on equity 19.1% 18.2% 16.8% 2.8% 16.3% 24.7% 26.6% 24.5% 22.2% 22.4%
Return on assets 9.9% 7.7% 6.2% 1.0% 6.4% 10.9% 13.4% 13.6% 12.8% 13.4%
Growth
Revenue growth 11,972.4% 18.5% 13.0% −6.5% −0.3% 17.8% 15.8% 1.5% 1.9% 8.8%
Net income growth 352.8% 5.8% 1.7% −83.3% 502.1% 77.8% 34.7% 11.3% 1.9% 5.5%
EPS growth 353.3% 6.2% 1.9% −83.2% 493.6% 78.8% 34.4% 11.2% 3.0% 8.2%
FCF growth −0.9% −15.9% 30.3% 71.1% −18.4% −25.0% 87.4% 9.2% 34.3% −1.0%
Share count change −0.2% −0.3% −0.3% −0.4% 0.8% −0.5% 0.3% 0.1% −1.1% −2.5%
Financial health
Net debt / EBITDA 0.9x 3.3x 2.9x 4.4x 2.2x 1.2x 0.5x 0.3x 0.3x 0.2x
Debt / equity 0.4x 1.2x 1.1x 1.1x 0.9x 0.6x 0.4x 0.4x 0.3x 0.1x
Interest coverage 19.9x 9.4x 5.7x 2.4x 6.7x 13.4x 19.1x 24.1x 27.4x 31.6x
Current ratio 2.9x 2.5x 2.7x 2.7x 2.8x 2.7x 3.1x 3.5x 3.3x 2.6x
Quick ratio 1.7x 1.5x 1.7x 1.8x 2.0x 1.8x 2.1x 2.6x 2.4x 1.8x
Capital allocation
Capex / revenue 0.7% 0.8% 0.6% 0.6% 0.5% 0.5% 0.6% 0.6% 0.6% 0.5%
Stock comp / revenue 0.1% 0.2% 0.1% 0.1% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
Payouts / FCF 35.8% 55.3% 36.2% 17.7% 40.2% 38.7% 17.1% 37.3% 46.6% 84.7%
Quality scores
Piotroski F-score 7.0 7.0 7.0 6.0 8.0 7.0 7.0 5.0 6.0 7.0
Altman Z'' 7.2 4.7 5.1 4.7 5.4 6.2 7.1 7.7 7.6 8.1
Accruals ratio −2.3% −0.3% −1.6% −11.8% −4.3% 3.0% 0.1% 0.5% −3.2% −2.3%

Source: SEC EDGAR XBRL filings (CIK 0000109563). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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