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Applied Industrial Technologies, Inc.

AIT Industrials Industrial Distribution

Applied Industrial Technologies, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $5.0 billion, up 8.84% from fiscal 2025.

Revenue
+7.64%
EPS
+12.7%
Free cash flow
−34.4%
Total debt
−50.7%

Quarter to September 2026, against a year earlier

282.55 15.74 −5.28%
Market cap
$10.3B
P/E
24.7×
Fwd P/E
24.2×
Dividend yield
0.70%
F-score
8/9
Altman Z
10.54
Beneish M
−2.45
Dividend safety
93/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Service Center
  • Engineered Solutions

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 15.82
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 5 — — 1 1 — 2 — — —
Insider Ownership 1.32%

Capital & Financial Ratios $m

Size
Market Cap 10,260.00
Revenue ttm 5,058.33
Net income ttm 424.12
Free cash flow ttm 423.02
Net debt Q 170.06
Valuation
P/E 24.70
Forward P/E 24.20
Price / sales 2.05
Forward P/S Powerpack
Price / FCF 24.52
Price / book 5.50
Financial health
Current ratio Q 2.89 (at or above 1.5: strong)
Debt / equity Q 0.15 (at or below 0.5: strong)
Interest coverage Q 46.52
Growth
Revenue growth Q +7.64% (above 0%: growing)
Operating income growth Q +11.29% (above 0%: growing)
EPS, this year +10.78%
EPS, next year A +9.15%
Revenue, next year A +6.11%
EPS, past 5 yrs +24.37% (at or above 15%: strong)
EPS, next 5 yrs A +8.91%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.1×, against a ten-year median of 1.2×; over the ten years it ranged from 0.7× in 2016 to 2.6× in 2026.
P/E against its own 10 years 68.30%
10-year low 10-year high
P/S against its own 10 years 85.70%
10-year low 10-year high
P/B against its own 10 years 90.94%
10-year low 10-year high
EV/Sales against its own 10 years 85.66%
10-year low 10-year high
EV/FCF against its own 10 years 72.09%
10-year low 10-year high

Dividends raised every year since 2018

Yield
0.70%
Annual rate
1.99
Payout ratio
17.6%
Growth, 2018–26
+6.86%/yr
  1. 1.20 ’18
  2. 1.24 ’19 +3
  3. 1.28 ’20 +3
  4. 1.32 ’21 +3
  5. 1.36 ’22 +3
  6. 1.40 ’23 +3
  7. 1.48 ’24 +6
  8. 1.84 ’25 +24
  9. 2.04 ’26 +11
paid change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 461 388 127 112
Receivables 725 770 831 822
Inventory 488 505 509 533
Other 96 84 111 86
1,770 1,747 1,579 1,554
2024 2025 2026 Q'26
Payables 267 280 341 293
ST’ Debt 25 — — —
Other 116 146 162 167
501 526 612 538

Compound Annual Growth %

10y 5y 3y
Sales 7.02% 8.95% 4.02%
Cash Flow 11.57% 14.90% 12.06%
Earnings 30.21% 23.42% 6.13%
Book Value 10.96% 14.83% 8.48%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY27 Estimate 2.86 Actual 2.97

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY26 2.48 2.51 Beat by 0.03
Q3 FY26 2.63 2.65 Beat by 0.02
Q4 FY26 2.92 3.17 Beat by 0.25
Q1 FY27 2.86 2.97 Beat by 0.11
Q2 FY27 2.79 — Reports 26 January 2027

EPS $

Sep Dec Mar Jun Year
’26 2.97 — — — —
’26 2.63 2.51 2.65 3.17 10.95
’25 2.36 2.39 2.57 2.80 10.12
’24 2.39 2.32 2.48 2.64 9.83
’23 1.97 2.05 2.47 2.35 8.84
’22 1.36 1.46 1.75 2.02 6.58
’21 0.89 (0.14) 1.42 1.51 3.68
Fiscal quarters ending in the months shown.

Revenue $m

Sep Dec Mar Jun Year
’26 1,291 — — — —
’26 1,200 1,163 1,251 1,353 4,967
’25 1,099 1,073 1,167 1,225 4,563
’24 1,095 1,077 1,146 1,161 4,479
’23 1,062 1,060 1,132 1,158 4,413
’22 892 877 981 1,061 3,811
’21 748 751 841 896 3,236
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 86 — — — —
’26 119 100 100 165 484
’25 128 95 122 147 492
’24 66 102 84 119 371
’23 26 63 75 180 344
’22 49 33 53 54 188
’21 82 78 44 38 242
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 73 — — — —
’26 112 94 96 160 462
’25 123 90 115 139 467
’24 62 97 77 112 347
’23 20 56 67 175 319
’22 45 29 48 48 171
’21 78 73 41 35 227
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 9.1% a year for ten years. It grew 13.4% a year over the last ten.

Implied
9.1%
10 years, reported
13.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 2,594 3,073 3,473 3,246 3,236 3,811 4,413 4,479 4,563 4,967 5,058 +7.5% 5,270 5,566 5,751 +5.0%
Gross margin, % 28.44 28.76 29.02 28.89 28.91 29.05 29.16 29.84 30.31 30.34 30.40 +1.9 pt
EBT 167 205 194 55 177 330 450 498 501 544 557 +14.0%
EBT margin, % 6.44 6.66 5.60 1.70 5.47 8.65 10.19 11.12 10.98 10.96 11.00 +4.5 pt
Net income 134 142 144 24 145 257 347 386 393 415 424 +13.4%
Per share, $
Per share, $ Revenue 66.48 79.31 89.80 83.96 83.49 99.05 114.34 115.83 119.18 132.88 137.81 +8.0%
Earnings 3.43 3.65 3.72 0.62 3.73 6.69 8.98 9.98 10.26 11.09 11.44 +13.9%
Cash flow 4.22 3.80 4.67 7.68 6.24 4.88 8.91 9.60 12.86 12.95 12.29 +13.3%
Capex (0.36) (0.57) (0.46) (0.47) (0.38) (0.44) (0.65) (0.63) (0.66) (0.60) (0.77) +5.8%
Free cash flow 3.86 3.23 4.21 7.21 5.86 4.43 8.26 8.98 12.20 12.35 11.52 +13.8%
Book value 19.10 21.03 23.20 21.82 24.06 29.88 37.79 43.67 48.17 49.81 51.34 +11.2%
Shares, m 39 39 39 39 39 38 39 39 38 37 37 (0.5%)
Valuation, ×
Valuation, × P/E 17.17 19.37 16.40 100.63 24.41 14.35 16.09 19.10 22.63 30.46 24.70 28.1
P/S 0.89 0.89 0.68 0.74 1.09 0.97 1.27 1.64 1.95 2.54 2.05 1.3
P/B 3.09 3.37 2.63 2.86 3.78 3.22 3.83 4.36 4.83 6.79 5.50 3.9
EV/Sales 0.96 1.19 0.92 0.95 1.27 1.10 1.33 1.67 2.00 2.58 2.09 1.4
EV/FCF 16.55 29.24 19.73 11.05 18.06 24.65 18.40 21.59 19.50 27.71 24.96 20.6
Cash, $m
Cash, $m Operating cash flow 165 147 181 297 242 188 344 371 492 484 451 +12.7%
Capex (14) (22) (18) (18) (15) (17) (25) (24) (25) (22) (28) +5.3%
Free cash flow 150 125 163 279 227 171 319 347 467 462 423 +13.3%
Balance, $m
Balance, $m Working capital 573 625 724 734 769 860 1,106 1,269 1,221 966 1,015 +6.0%
Net debt 187 910 850 665 571 505 278 137 184 135 170 (3.5%)
Shareholders’ equity 745 815 897 844 933 1,149 1,458 1,689 1,845 1,862 1,884 +10.7%
Returns, %
Returns, % ROA 9.92 7.71 6.24 1.04 6.36 10.90 13.35 13.55 12.83 13.40 13.75 +3.5 pt
ROIC 11.76 8.18 8.37 3.69 8.54 13.52 17.03 16.98 15.36 17.20 17.16 +5.4 pt
ROE 19.09 18.15 16.82 2.76 16.30 24.73 26.59 24.51 22.24 22.37 22.51 +3.3 pt
People
People Employees 5,554 6,634 6,650 6,200 5,900 6,100 6,200 6,500 6,800 6,900 — +2.4%
Revenue/emp, $m 0.47 0.46 0.52 0.52 0.55 0.62 0.71 0.69 0.67 0.72 — +4.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Applied Industrial Technologies distributes industrial parts and provides technical services that help customers maintain, repair and improve their equipment. Its products include bearings, power transmission components, hydraulic and pneumatic equipment, flow-control products and factory automation technologies. It also sells general maintenance supplies.

Customers use these products to keep existing machinery running, build original equipment and install new systems. Applied serves industrial businesses ranging from local operations to large companies with multiple facilities. Its work includes supplying a replacement part when a machine breaks, repairing equipment, and designing and integrating systems for a customer’s operation.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Service Center 3,184 64.11%
Engineered Solutions 1,782 35.89%
Gross margin 30.34%
Operating margin 11.06%
Pre-tax margin 10.96%

Revenue by segment since 2009

Applied Industrial Technologies, Inc. vs peers in Industrial Distribution (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WSO.B Watsco, Inc. $16.0B 27.2× — +2.06% (above 0%: growing) −11.50% (below 0%: shrinking) +17.57% (above 0%: growing) 27.50% 11.32% Compare
WCC WESCO International, Inc. $13.9B 17.9× 19.2× +16.57% (above 0%: growing) +45.47% (above 0%: growing) +271.85% (above 0%: growing) 21.67% 6.24% Compare
WSO Watsco, Inc. $13.0B 27.0× 26.4× +7.42% (above 0%: growing) −11.50% (below 0%: shrinking) −8.87% (below 0%: shrinking) 26.41% 10.14% Compare
QXO QXO, Inc. $12.1B — (loss-making) — (loss-making) +70.30% (above 0%: growing) n/m −27.62% (below 0%: shrinking) 24.74% (1.29%) Compare
AIT Applied Industrial Technologies, Inc. $10.3B 24.7× 24.2× +7.64% (above 0%: growing) +12.65% (above 0%: growing) −34.44% (below 0%: shrinking) 30.38% 11.12%
CNM Core & Main, Inc. $8.9B 19.3× 16.8× +2.48% (above 0%: growing) +8.45% (above 0%: growing) +83.33% (above 0%: growing) 26.71% 10.58% Compare
POOL Pool Corporation $7.7B 19.8× 18.9× +3.71% (above 0%: growing) 0.00% +52.83% (above 0%: growing) 28.99% 11.44% Compare
XMTR Xometry, Inc. $6.3B — (loss-making) — (loss-making) +39.69% (above 0%: growing) n/m −327.10% (below 0%: shrinking) 39.09% 0.02% Compare
MSM MSC Industrial Direct Company, Inc. $6.2B 27.8× 29.0× +10.32% (above 0%: growing) −14.85% (below 0%: shrinking) +8.93% (above 0%: growing) 40.64% 6.75% Compare
Median of peers $10.5B 23.4× 19.2× +8.87% −5.75% +13.25% 27.11% 8.45%

All 25 Industrial Distribution stocks →

From the latest earnings call

Updated

  • CEO Neil Schrimsher said Engineered Solutions orders rose more than 30% year over year, while automation backlog grew both sequentially and from a year earlier.
  • CFO Dave Wells said Applied raised its fiscal 2027 EPS guidance after repurchases reduced its share-count assumption, while maintaining its sales and EBITDA margin outlook.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 96.16%
Held by the ten largest 43.44%
Holder Shares Stake Change
Vanguard 4.08m 11.07% −11.17k
BlackRock 3.95m 10.74% +114.73k
AQR Capital Management 1.34m 3.64% +423.54k
State Street 1.23m 3.33% +18.65k
Capital Group 1.20m 3.25% +4.68k
First Trust 1.01m 2.74% +28.38k
Geode Capital Management 939.32k 2.55% +38.69k
FULLER & THALER ASSET MANAGEMENT, INC. 893.71k 2.43% +331.03k
Dimensional Fund Advisors 720.99k 1.96% −264.00
Wellington Management 631.56k 1.72% −123.00k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 10 September 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 7.70m 16.37m 388.90
2025 6.52m 9.69m 265.47
2024 6.28m 13.97m 220.05
2023 6.36m 17.66m 162.95
2022 5.84m 8.82m 107.05

Ownership

Directors and executive officers, together 1.60%
Vanguard Portfolio Management 5.80%
Vanguard Capital Management 5.30%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Applied Industrial Technologies, Inc. (AIT) Latest News

31 Oct

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AIT metrics, ten years each

stockrow.com/AIT · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com