Applied Industrial Technologies, Inc.

Wholesale-Machinery, Equipment & Supplies

AITStrong11 of 11 basics passed

$335.38

+0.98%

Market cap $12.3B

$335.38

+0.98%

Market cap $12.3B

Applied Industrial Technologies Inc value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies and related maintenance supplies.

It is a $12.3B industrial company. Revenue grew 8.8% over the last year, and it keeps 8¢ of every dollar of sales as profit. It trades at 29.7× earnings — near the highest of its own history.

Website: applied.com
Location: Cleveland, OH
Employees: 6 900
Sector: Industrials

Share price · 3 years

$158.03 → $335.38+112.2%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $4.97B
Profit: keeps 8¢ of every $1 sold; $415M
Free cash flow: cash left after running the business; $461M
P/E: years of profit in the price; 29.7
EPS: earnings per share, TTM; $10.95
Dividend: pays out 18% of profit · 16% of FCF; 0.59%
Shares: down 15% since 2017 — buybacks; 37.9M
Volatility: beta vs the market — under 1 swings less; 0.84

Revenue, last 10 years

52-week range

Low $240.63$335.38High $361.95

Today's price is 78% of the way from the year's low to its high.

P/E vs its history5y

30.5×median 20.7×

Higher than 95% of past days — near the highest of its own history.

Valuation vs own history

P/E

30.5×

P/S

2.5×

EV/EBITDA

24.1×

P/B

6.6×

FCF yield

3.6%

21%

Share of the last ~5 years that was pricier than today (unusually expensive vs its own history). Based on the daily valuation record.

Insider activity · 90 days

-$1.29Mnet selling

Purchases$0

Sales$1.29M

Insiders trading, last 14d0 buy · 0 sell

Standing in Industrials

Size$12.3Btop 72%
Revenue growth+4%top 48%
Net margin8%top 56%
Return on equity22%top 38%
P/E29.7×top 60%
Dividend yield0.59%top 81%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong health and quality; Valuation and Profitability lag behind.

Valuation44

P/E vs own history95th pct · 0/25
FCF yield3.7% · 12/25
P/S2.5x · 20/25
EV/EBITDA21.6x · 12/25

Growth69

Revenue CAGR6.8% · 12/25
Net income CAGR12.6% · 20/25
EPS CAGR ~5Y24.4% · 25/25
Fwd implied growth10.1% · 12/25

Profitability45

ROICn/a · 0/25
ROE22.2% · 20/25
Net margin8.3% · 13/25
Operating margin11.1% · 12/25

Health75

Altman Z10.57 · 25/25
Current ratio2.58 · 25/25
Interest coverage87.7x · 25/25
Net cash / debtn/a · 0/25

Quality100

Piotroski F8/9 · 25/25
Beneish M-2.68 · 25/25
FCF conversion109% · 25/25
Margin stabilityσ 2.6% · 25/25

Moat56

ROIC >12% years5/10 yrs · 13/25
Median gross margin29.0% · 6/25
FCF-positive years11/11 yrs · 25/25
Worst-year net marginworst 0.7% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2026Financial
Best year on record
$415M net income
FY2016Financial
Profitable every year on record
11 consecutive profitable years in our data
FY2016Financial
Revenue already above $1B
$2.52B in first reported year
FY2016Financial
Positive free cash flow every year since
11-year streak
1997Milestone
The Company changed its name to Applied Industrial Technologies to more accurately reflect its diversified…

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$39 327 today — price return only

$5.0B revenue in FY2026

Revenue up 8.8% year over year

Profitable 11 years in a row

Positive free cash flow 11 years in a row

6 900 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Could repay net debt from ~0.8 years of free cash flow
Interest covered 87.7× by operating earnings
Piotroski F-Score 8/9 — fundamentally strong checklist
Altman Z-Score 10.57 — low bankruptcy-risk zone

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

11 of 11 checks passed

Revenue growing — the company sells more than a year ago+8.8% YoY
Profitable — makes more than it spends$415M TTM
Profit growing — earnings are higher than last year+7.4% YoY
Generates cash — cash left after running and investing$461M TTM
Debt under control — could handle its obligationscurrent ratio 2.58
Established company — not a micro-cap — lower blow-up risk$12.3B market cap
Not printing shares — share count not ballooning — you keep your slice-3.8% shares over ~5y
Proven track record — years of profitability behind it11/11 profitable years
Financially stable — balance sheet not near distressAltman Z 10.6 — safe
Pays a dividend — returns cash to shareholdersyield 0.59%
Valuation not extreme — price not wildly above earningsP/E 29.7

Peer comparisonApplied Industrial Technologies, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
AIT this company	$12.3B	29.7	+8.8%	8.3%	Strong
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: AIT vs LRCX · AIT vs CAT · AIT vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 4Buy 6Hold 3

Appendix · Financial records

The full statements behind this CV, FY2016–FY2026. For readers who want to check the numbers.

Profit & lossRevenue $4.97B · net income $415M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2026 revenue flows to profit

RevenueNet income

Revenue (TTM)

$4.97B

YoY 8.8%

Net income (TTM)

$415M

Margin 8.3%

Gross margin

30.3%

Operating margin

11.1%

P/E ratio

29.7

Dividend yield

0.59%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025	2026
Revenue	3.2	3.8	4.4	4.5	4.6	5.0
Gross profit	0.9	1.1	1.3	1.3	1.4	1.5
Operating income (EBIT)	0.2	0.4	0.5	0.5	0.5	0.5
Net income	0.1	0.3	0.3	0.4	0.4	0.4
EPS (diluted)	3.68	6.58	8.84	9.83	10.12	10.95

Cash flowFree cash flow $461M · operating cash flow $484M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$461M

Margin 9.3%

Operating cash flow (TTM)

$484M

FCF margin

9.1%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Operating cash flow	0.2	0.2	0.3	0.4	0.5	0.5
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
Free cash flow	0.2	0.2	0.3	0.3	0.5	0.5
FCF margin	7.0%	4.4%	7.2%	7.7%	10.2%	9.3%

Balance sheetAssets — · debt n/a (FY2026)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

Altman Z-Score

10.57

Safe zone

Debt repayment

0.8 yrs

Years of free cash flow to clear net debt

Interest coverage

87.7x

EBIT ÷ interest expense

ROE

22.2%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Cash & equivalents	0.3	0.2	0.3	0.5	0.4	—
Total assets	2.3	2.5	2.7	3.0	3.2	—
Total liabilities	1.3	1.3	1.3	1.3	1.3	—
Total debt	0.8	0.6	0.6	0.6	0.6	—
Equity	0.9	1.1	1.5	1.7	1.8	—
Net debt	0.5	0.5	0.3	0.1	0.2	—

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Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $335.38 · market cap $12.3B.