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Applied Industrial Technologies Inc (AIT) stock

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NYSE: AIT NYSE Trading Companies & Distributors Next results ~January 26, 2027

B Fundamentals grade

Applied Industrial Technologies Inc is a US-listed company in the trading companies & distributors industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$250

Cash-flow model

Base case. Range ~$190–$340 across our lower- and higher-growth cases (1.4%–11.4% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 17% above our base value.

Price used: $298.50, November 2, 2026

Applied Industrial Technologies Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 14 sales by directors and officers, last 12 monthsInsider trades
  • Funds317 adding, 258 cuttingOf 77 active managers that changed their stake, 26 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Applied Industrial Technologies files

10-Q filed October 27: Applied Industrial Technologies

Model value +1.2%

Revenue for the twelve months to September 2026 was $5.06bn, up 8.5% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin fell to 8.3% from 9.8% a year earlier. The diluted share count is down 2.8% on a year earlier, which lifts each remaining share. Our model value rises from $249 to $252 a share, against a share price of $303. The rating stays Hold. At that price, our model says the market is pricing in about 9.4% a year of cash-flow growth for five years, faster than the 5.8% a year revenue growth it has delivered.

Source: 10-Q filed October 27, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-K filed August 13: Applied Industrial Technologies

Revenue for the twelve months to June 2026 reached $5.06bn, up 8.5% on a year earlier and roughly matching the pace set a quarter before. Free-cash-flow margin slipped to 8.3% from 9.8%. Offsetting some of that, the diluted share count is down 2.8%, which lifts the claim on each remaining share. These shifts move the fundamentals grade from C+ to B. Our model value is little changed at $249 a share, against a market price of $304, and the rating moves from Sell to Hold. At $304 the model implies the market expects about 9.4% a year of cash-flow growth over five years. That runs well ahead of the 5.8% a year revenue growth the company has actually delivered.

10-K on SEC EDGAR

Where Applied Industrial Technologies stands after its latest 10-K

Revenue for the twelve months to June 2026 was $4.97bn, up 8.8% on a year earlier, faster than 7.5% a quarter earlier. Free-cash-flow margin held at 9.3%. The diluted share count is down 2.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 5 of our 6 financial-health checks. Our cash-flow model value is $251 a share, against a share price of $331. At that price, our model says the market is pricing in about 11.3% a year of cash-flow growth for five years, faster than the 8.9% a year revenue growth it has delivered.

10-K on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Applied Industrial Technologies Inc's trailing-twelve-month revenue grew 8.5% year on year, with a free-cash-flow margin of 8.3%. Where it stands out: operating margin of 11.2% ranks 5 of 28 trading companies & distributors companies we cover.

Our discounted-cash-flow model values the business at ~$250 per share in the base case (~$190–$340 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Net income rising while operating cash flow falls: TTM net income grew 5.6% while operating cash flow fell 6.8% — earnings and cash are telling different stories.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 2.8% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Insiders selling. 6 insiders sold $16M of stock over the past 365 days and none bought (0% under pre-set trading plans).

Latest results: FY2027 Q1

Filed October 27, 2026
Earnings per share
$2.97 against an average estimate of $2.89: beat by 2.8%
Revenue
$1.29bn, up 7.6% on a year earlier
Share reaction
-7.9% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Guidance given
EPS $11.7 to $12.2 (fiscal 2027); sales growth 4% to 6.5% (fiscal 2027)
Next report
January 26, 2027; average EPS estimate $2.79

Applied Industrial Technologies' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.5%
  • 1 week-8.1%
  • 1 month-13.1%
  • This year+16.8%
  • 1 year+16.9%
  • 5 years+217.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$5.1B
Operating margin
11.2%
Net margin
8.4%
EPS (TTM, diluted)
$11.28

Growth

Revenue growth
+8.5%
Change in growth rate
−0.4 pts
Share count change
−2.8%

Cash

Free cash flow (TTM)
$422M
FCF margin
8.3%

Earnings

Last results
October 27, 2026
Next results (est.)
January 26, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Guidance
  4. Our research
  5. Leadership
  6. Leadership
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Applied Industrial Technologies Inc valuation models and calculator

What the price is pricing in

The share price implies about 9.2% a year of cash-flow growth for five years.That is close to the 5.8% a year revenue growth Applied Industrial Technologies has delivered.

  • Priced in9.2%
  • Last 12 months8.5%
  • 3 years a year4.4%
  • 5 years a year5.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($302.78, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$250
Price used
$302.78close November 3, 2026
Implied change
▼ 16%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Applied Industrial Technologies Inc's free cash flow after stock-based pay with after-tax interest added back ($451M, FY2027 Q1 TTM), growing 5.5% and 6.2% in the next two years (forecasts, guidance and its record), then back to 6.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$190–~$340 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Applied Industrial Technologies Inc's free cash flow after stock-based pay ( $451M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Applied Industrial Technologies Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.08 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$250 ~$190–$340 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$240 ~$210–$280 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$210 ~$150–$290 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$160 ~$140–$190 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$220 ~$160–$250 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Applied Industrial Technologies Inc with Trading Companies & Distributors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −12%
  • Last year's free-cash-flow margin change, if it persists ▼ −15%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $172$236$319$430$574$760
8.5% $131$177$237$316$419$551
10% $106$141$188$248$326$427

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$39.03$52.10$63.06$56.41$58.47$86.78$92.91$141.43$191.04$230.51$337.67$298.50
Market value$1.5bn$2.1bn$2.5bn$2.2bn$2.3bn$3.4bn$3.6bn$5.5bn$7.5bn$8.9bn$12.8bn$11.2bn
+ Net debt (− = net cash)$268m$187m$910m$852m$667m$572m$505m$278m$137m$184m$135m$170m
Enterprise value$1.8bn$2.2bn$3.4bn$3.1bn$2.9bn$4.0bn$4.1bn$5.8bn$7.6bn$9.1bn$12.9bn$11.4bn
Multiples
Price / sales 0.6x0.8x0.8x0.6x0.7x1.1x1.0x1.3x1.7x2.0x2.6x2.2x
Price / earnings 52.1x15.3x17.5x15.3x94.8x23.6x14.1x16.0x19.4x22.8x30.8x26.5x
Price / free cash flow 10.3x13.9x20.0x13.7x8.2x15.1x21.4x17.5x21.6x19.2x27.8x26.6x
EV / EBITDA 17.1x11.7x13.9x12.0x26.7x17.6x10.9x11.8x14.7x17.4x22.5x19.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

58 /100

Moderate moat

How hard Applied Industrial Technologies's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Cash operating profit has been a median 12.1% of total assets over 10 years.

  • Pricing power 11 / 20

    Gross margin has been a median 29.1%, moving by 0.7 percentage points (standard deviation) across 10 years.

  • Durability 6 / 20

    Operating margin has been a median 8.6%; its worst year was 2.6%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 10 of 10 years, at a median 6.9% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 4.4% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (63 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 26, 2027, before the open. Analysts expect revenue of $1.3bn and EPS of $2.79 (range $2.77 to $2.83) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.10 +11% $5.3bn +6%
Next $13.24 +10% $5.6bn +6%

Next year's EPS estimate has moved +3.7% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.3% on 90 days ago. In the last 30 days, 7 analysts raised Applied Industrial Technologies Inc's forecast and 0 cut it.

Consensus EPS forecast Applied Industrial Technologies Inc, last 90 days
$11.50 $12.00 $12.50 $13.00 $13.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $11.82 Current fiscal year, 60 days ago: $12.03 Current fiscal year, 30 days ago: $12.03 Current fiscal year, 7 days ago: $12.04 Current fiscal year, Now: $12.10 $12.10 Next fiscal year, 90 days ago: $12.77 Next fiscal year, 60 days ago: $13.23 Next fiscal year, 30 days ago: $13.23 Next fiscal year, 7 days ago: $13.20 Next fiscal year, Now: $13.24 $13.24

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $11.82$12.77
60 days ago $12.03$13.23
30 days ago $12.03$13.23
7 days ago $12.04$13.20
Now $12.10$13.24

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $2.89 $2.97 +2.8%
Jun 2026 $2.92 $3.17 +8.6%
Mar 2026 $2.65 $2.65 +0.2%
Dec 2025 $2.50 $2.51 +0.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 27, 2026
  • sales fiscal 2027 4% growth to 6.5% growth Maintained
    “The Company is maintaining guidance for sales of up 4.0% to 6.5%, as well as EBITDA margins of 12.5% to 12.8%.” source
  • EPS fiscal 2027 $11.70 to $12.20 Raised
    “Today, the Company is modestly increasing fiscal 2027 EPS guidance to a range of $11.70 to $12.20 (prior $11.65 to $12.15) to reflect a slightly lower diluted share count assumption following first quarter share repurchases.” source
  • EBITDA margin fiscal 2027 12.5% to 12.8% Maintained
    “The Company is maintaining guidance for sales of up 4.0% to 6.5%, as well as EBITDA margins of 12.5% to 12.8%.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Applied Industrial Technologies Inc's revenue by +5.5% next year and +6.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+5.5%, weight 44%) , management guidance (+4.9%, weight 33%) and the company's own record (+6.4%, weight 22%) . How the weights are set.

Analyst recommendations

8 analysts, Oct 2026
Buy675%
Hold225%
Sell00%

Monthly trend

  1. Oct 2026628
  2. Sep 2026628
  3. Aug 2026628
  4. Jul 2026628

Counts of recommendations published by analysts covering Applied Industrial Technologies Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.9%
of tradable shares
Days to cover
2.56
at average volume
Short interest, 1 month
−21%
to October 15, 2026
Held by institutions
99%
of shares
Held by insiders
0.8%
of shares
Employees
6,900
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +16.9%

$255.37 on October 31, 2025 to $298.50

ThenNowEffect
Revenue (last 12 months) $4.6bn $5.0bn +8.8%
Net margin 8.6% 8.3% −3.1%
P/E multiple 25.2x 27.3x +8.1%
Share count 39m 38m +2.5%

Biggest factor: revenue.

Last 3 years +94.1%

$153.76 on November 3, 2023 to $298.50

ThenNowEffect
Revenue (last 12 months) $4.4bn $5.0bn +12.6%
Net margin 7.9% 8.3% +6.2%
P/E multiple 17.4x 27.3x +56.7%
Share count 39m 38m +3.6%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AIT+34%+24%+38%+40%+8%+17%
Industry peers (median)+34%−13%+28%−7%+2%+12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AIT58%58%58%75%42%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AIT−21%−19%−16%−15%−24%−19%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 59% from September 21, 2018 to March 18, 2020. Getting back needed a 146% gain, reached on November 23, 2020, 250 days after the low.

Price behaviour

52-week range
$239.46 – $361.95
From 52-week high
−17.5%
vs 50-day average
−8.6%
vs 200-day average
−3.4%
Volatility (1 year)
27%
Beta vs S&P 500
0.82

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±4.1%
After a week
5 up, 6 down
typical move ±3.6%
After a month
6 up, 5 down
typical move ±6.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 −7.9% +0.9% — —
August 13, 2026 +2.9% +0.5% −3.3% −9.3%
April 28, 2026 −0.5% −0.5% +2.5% +3.7%
January 27, 2026 −9.0% +0.4% −3.0% +0.9%
October 28, 2025 −2.3% +0.3% −1.4% −0.8%
August 14, 2025 −7.4% −0.2% −6.0% −4.5%
May 1, 2025 −6.5% +2.2% −8.7% −7.5%
January 29, 2025 +4.5% +0.1% +5.0% −0.5%
October 24, 2024 +3.3% +0.2% +3.5% +24.0%
August 15, 2024 +1.5% +1.9% +2.1% +5.2%
April 25, 2024 −2.8% +0.6% −0.8% +5.4%
January 25, 2024 +0.9% +0.4% +3.5% +7.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Applied Industrial Technologies Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Applied Industrial Technologies Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Applied Industrial Technologies Inc
$4.4B $4.6B $4.8B $5B $5.2B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $4.5B Revenue (TTM), FY24 Q3: $4.5B Revenue (TTM), FY24 Q4: $4.5B Revenue (TTM), FY25 Q1: $4.5B Revenue (TTM), FY25 Q2: $4.5B Revenue (TTM), FY25 Q3: $4.5B Revenue (TTM), FY25 Q4: $4.6B Revenue (TTM), FY26 Q1: $4.7B Revenue (TTM), FY26 Q2: $4.8B Revenue (TTM), FY26 Q3: $4.8B Revenue (TTM), FY26 Q4: $5B Revenue (TTM), FY27 Q1: $5.1B $5.1B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $4.5B
FY24 Q3 $4.5B
FY24 Q4 $4.5B
FY25 Q1 $4.5B
FY25 Q2 $4.5B
FY25 Q3 $4.5B
FY25 Q4 $4.6B
FY26 Q1 $4.7B
FY26 Q2 $4.8B
FY26 Q3 $4.8B
FY26 Q4 $5B
FY27 Q1 $5.1B
Revenue growth, TTM YoY Applied Industrial Technologies Inc
0% 5% 10% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 7.1% Revenue growth, TTM YoY, FY24 Q3: 3.7% Revenue growth, TTM YoY, FY24 Q4: 1.5% Revenue growth, TTM YoY, FY25 Q1: 0.8% Revenue growth, TTM YoY, FY25 Q2: 0.4% Revenue growth, TTM YoY, FY25 Q3: 0.5% Revenue growth, TTM YoY, FY25 Q4: 1.9% Revenue growth, TTM YoY, FY26 Q1: 4.0% Revenue growth, TTM YoY, FY26 Q2: 6.1% Revenue growth, TTM YoY, FY26 Q3: 7.5% Revenue growth, TTM YoY, FY26 Q4: 8.8% Revenue growth, TTM YoY, FY27 Q1: 8.5% 8.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 7.1%
FY24 Q3 3.7%
FY24 Q4 1.5%
FY25 Q1 0.8%
FY25 Q2 0.4%
FY25 Q3 0.5%
FY25 Q4 1.9%
FY26 Q1 4.0%
FY26 Q2 6.1%
FY26 Q3 7.5%
FY26 Q4 8.8%
FY27 Q1 8.5%
Operating margin (TTM) Applied Industrial Technologies Inc
10.7% 10.8% 10.9% 11% 11.1% 11.2% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 11.0% Operating margin (TTM), FY24 Q3: 10.8% Operating margin (TTM), FY24 Q4: 11.1% Operating margin (TTM), FY25 Q1: 10.9% Operating margin (TTM), FY25 Q2: 11.0% Operating margin (TTM), FY25 Q3: 11.2% Operating margin (TTM), FY25 Q4: 10.9% Operating margin (TTM), FY26 Q1: 11.0% Operating margin (TTM), FY26 Q2: 10.9% Operating margin (TTM), FY26 Q3: 10.9% Operating margin (TTM), FY26 Q4: 11.1% Operating margin (TTM), FY27 Q1: 11.2% 11.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 11.0%
FY24 Q3 10.8%
FY24 Q4 11.1%
FY25 Q1 10.9%
FY25 Q2 11.0%
FY25 Q3 11.2%
FY25 Q4 10.9%
FY26 Q1 11.0%
FY26 Q2 10.9%
FY26 Q3 10.9%
FY26 Q4 11.1%
FY27 Q1 11.2%
FCF margin (TTM) Applied Industrial Technologies Inc
7% 8% 9% 10% 11% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 9.0% FCF margin (TTM), FY24 Q3: 9.1% FCF margin (TTM), FY24 Q4: 7.7% FCF margin (TTM), FY25 Q1: 9.1% FCF margin (TTM), FY25 Q2: 8.9% FCF margin (TTM), FY25 Q3: 9.8% FCF margin (TTM), FY25 Q4: 10.2% FCF margin (TTM), FY26 Q1: 9.8% FCF margin (TTM), FY26 Q2: 9.6% FCF margin (TTM), FY26 Q3: 9.1% FCF margin (TTM), FY26 Q4: 9.3% FCF margin (TTM), FY27 Q1: 8.3% 8.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 9.0%
FY24 Q3 9.1%
FY24 Q4 7.7%
FY25 Q1 9.1%
FY25 Q2 8.9%
FY25 Q3 9.8%
FY25 Q4 10.2%
FY26 Q1 9.8%
FY26 Q2 9.6%
FY26 Q3 9.1%
FY26 Q4 9.3%
FY27 Q1 8.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Applied Industrial Technologies took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $5B
  2. Cost of revenue $3.5B · 69.7%
  3. Gross profit $1.5B · 30.3%
  4. Selling, general and admin $957M · 19.3%
  5. Operating income $549M · 11.1%
  6. Income tax $130M · 2.6%
  7. Net income $415M · 8.3%

Shares of revenue. Source: Applied Industrial Technologies's 10-K for FY2026, as filed with the SEC.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026 LTM Sept 2026
Income
Revenue 1,893 2,213 2,375 2,462 2,460 2,752 2,519 2,594 3,073 3,473 3,246 3,236 3,811 4,413 4,479 4,563 4,967 5,058
Gross profit 516 613 654 683 687 770 707 738 884 1,008 938 936 1,107 1,287 1,337 1,383 1,507 1,538
EBITDA 122 162 180 189 178 201 106 191 244 254 110 226 380 495 519 523 575 590
Operating income 110 151 168 176 164 185 90 175 226 234 89 205 358 473 496 499 549 564
Net income 66 97 109 118 113 115 30 134 142 144 24 145 257 347 386 393 415 424
Diluted EPS $1.54 $2.24 $2.54 $2.78 $2.67 $2.80 $0.75 $3.40 $3.61 $3.68 $0.62 $3.68 $6.58 $8.84 $9.83 $10.12 $10.95 $11.28
Growth (year on year)
Revenue −1.6% +16.9% +7.3% +3.7% −0.1% +11.9% −8.4% +2.9% +18.5% +13.0% −6.5% −0.3% +17.8% +15.8% +1.5% +1.9% +8.8% +8.5%
EBITDA +42.6% +33.3% +10.9% +5.2% −5.6% +12.8% −47.4% +80.3% +27.8% +4.3% −56.6% +105.3% +67.8% +30.5% +4.8% +0.8% +9.9% +9.3%
Operating income +51.8% +37.0% +11.7% +4.8% −6.8% +12.3% −51.4% +95.3% +28.8% +3.5% −61.9% +130.9% +74.2% +32.2% +4.8% +0.5% +10.2% +9.7%
Net income +55.9% +46.8% +12.4% +8.6% −4.5% +2.4% −74.4% — +5.8% +1.7% −83.3% — +77.8% +34.7% +11.3% +1.9% +5.5% +5.6%
Diluted EPS +55.6% +45.5% +13.4% +9.4% −4.0% +4.9% −73.2% — +6.2% +1.9% −83.2% — +78.8% +34.3% +11.2% +3.0% +8.2% +8.6%
Margins
Gross margin 27.2% 27.7% 27.6% 27.7% 27.9% 28.0% 28.1% 28.4% 28.8% 29.0% 28.9% 28.9% 29.0% 29.2% 29.8% 30.3% 30.3% 30.4%
EBITDA margin 6.4% 7.3% 7.6% 7.7% 7.2% 7.3% 4.2% 7.4% 7.9% 7.3% 3.4% 7.0% 10.0% 11.2% 11.6% 11.5% 11.6% 11.7%
Operating margin 5.8% 6.8% 7.1% 7.2% 6.7% 6.7% 3.6% 6.8% 7.3% 6.7% 2.7% 6.3% 9.4% 10.7% 11.1% 10.9% 11.1% 11.2%
Net margin 3.5% 4.4% 4.6% 4.8% 4.6% 4.2% 1.2% 5.2% 4.6% 4.1% 0.7% 4.5% 6.8% 7.9% 8.6% 8.6% 8.3% 8.4%
Free-cash-flow margin 9.4% 2.5% 2.7% 4.0% 3.7% 5.2% 5.9% 5.7% 4.0% 4.7% 8.5% 7.0% 4.4% 7.2% 7.7% 10.2% 9.3% 8.3%
Cash flow
Cash from operations 184 77 90 111 110 157 162 165 147 181 297 242 188 344 371 492 484 451
Capital spending 7 20 26 12 20 15 13 17 23 19 20 16 18 26 25 27 24 29
Free cash flow 177 56 64 99 90 142 149 148 124 162 277 226 169 317 347 465 461 422
Stock-based pay 5 6 6 6 5 4 3 4 5 4 4 9 12 12 13 12 13 —
Free cash flow after stock pay 172 51 58 93 85 138 146 144 119 157 273 217 158 305 334 453 448 —
Balance sheet
Cash 176 91 78 73 71 69 60 105 54 108 269 258 184 344 461 388 127 112
Total debt 75 — 0 0 — 321 328 292 964 960 935 829 689 622 597 572 262 282
Net debt (negative = net cash) −101 −91 −78 −73 −71 252 268 187 910 852 667 572 505 278 137 184 135 170
Diluted shares 43m 43m 43m 43m 42m 41m 39m 39m 39m 39m 39m 39m 39m 39m 39m 39m 38m 38m
Returned to shareholders
Dividends 25 30 34 37 40 43 43 45 46 47 49 51 52 53 56 64 73 74
Buybacks 4 6 31 0 37 77 37 8 23 11 0 40 14 1 73 153 317 344
Total returned 29 36 65 37 77 119 81 53 69 58 49 91 66 54 129 217 390 418

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 6 checks passed · September 30, 2026
What it owns · $3.0bn
Short-term assets $1.6bnLonger-term assets $1.4bn
What it owes, and who funded it · $3.0bn
Short-term liabilities $538mLonger-term liabilities $561mShareholders' equity $1.9bn
  • Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $538m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.6bn short-term assets against $561m of longer-dated liabilities.
  • More cash than debt $112m of cash against $282m of debt.
  • Debt below 40% of shareholders' equity Debt is 15% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 62% to 15% over five years.
  • A year's operating cash flow covers at least 20% of debt $451m of operating cash flow against $282m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Applied Industrial Technologies Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$344M
Dividends (TTM)
$74M
Returned to shareholders
99%
of free cash flow
Buybacks, last 3 fiscal years
$543M
Diluted share count
−2.8%
year over year
Total shareholder yield
3.8%
dividends 0.7% + buybacks 3.1% of market value
Dividend payout ratio
17%
of net income paid out
Sales & admin spending
19.2%
of revenue
Days sales outstanding
59 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in trading companies & distributors
Last 12 months unless stated AIT HRI SITE MSM RUSHA WSO Median
Revenue, last 12 months $5.1bn $4.9bn $4.8bn $4.0bn $7.2bn $7.3bn $2.2bn
Revenue growth, last 12 months 8.5% 19.4% 2.9% 6.4% −5.9% −3.0% 8.4%
Revenue growth, 3-year average 4.4% 14.9% 4.4% 0.0% −1.9% 0.5% 5.1%
Revenue growth, latest quarter 7.6% 4.6% 2.6% 10.3% −1.6% 2.1% 9.0%
Gross margin 30.4% — 35.3% 40.9% 19.7% 27.5% 28.3%
Operating margin 11.2% — 5.5% 8.0% 5.1% 9.4% 5.5%
Operating margin, 3-year average 11.0% — 5.0% 8.7% 5.6% 10.0% 6.4%
Net margin 8.4% 2.5% 3.5% 5.6% 3.7% 6.5% 3.5%
Cash from operations / revenue 8.9% 25.8% 6.7% 7.6% 9.3% 10.1% 4.9%
Free-cash-flow margin 8.3% 22.9% 5.2% 5.6% 4.8% 9.6% 2.4%
Free-cash-flow margin, 3-year average 9.1% 25.1% 4.9% 6.7% 3.1% 8.4% 3.1%
Stock pay / revenue 0.1% 0.6% 0.6% 0.5% 0.4% 0.5% 0.5%
Change in share count −2.8% 11.4% −1.9% 0.2% −2.4% 1.0% −0.5%

Median of all 32 companies we cover in trading companies & distributors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

32 trading companies & distributors companies
Measure Company Peer median Rank
Revenue growth Growth 8.5% 8.5% 16 of 32
Change in growth rate Growth -0.4pp +0.8pp 20 of 32
Gross margin Profitability 30.4% 28.9% 12 of 26
Operating margin Profitability 11.2% 5.5% 5 of 28
Net margin Profitability 8.4% 3.5% 8 of 32
Free-cash-flow margin Cash generation 8.3% 2.8% 8 of 32
Long-term debt as % of assets Balance sheet 9.5% 21.4% 8 of 29
Change in share count Balance sheet -2.8% -0.8% 6 of 27
Days sales outstanding Balance sheet 59 days 57 days 16 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Segments
Line of business Revenue Share YoY
Service Center Based Distribution $3.2B 64.1% ▲ 5.6%
Engineered Solutions $1.8B 35.9% ▲ 15.1%
Geography
Region Revenue Share YoY
United States $4.4B 88.3% ▲ 9.6%
Canada $301M 6.1% ▲ 1.4%
Other Countries $281M 5.6% ▲ 5.5%

From Applied Industrial Technologies Inc's 10-K filed August 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$11.9B
Institutions reporting
615
Shares held vs prior quarter
▲ 1.2%
Positions opened / closed
92 / 50

Top buyers and sellers, Q2 2026: 317 institutions bought and 258 sold ; the biggest buyer was AQR Capital Management LLC (+424K shares) and the biggest seller UBS Group AG (−234K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.3B 4.0M 11.2% ▲ 3.0%
Vanguard Portfolio Management LLC $714M 2.1M 6.0% ▼ 0.5%
Vanguard Capital Management LLC $564M 1.7M 4.7% ▼ 0.2%
AQR Capital Management LLC $452M 1.3M 3.8% ▲ 46.1%
State Street Corp $414M 1.2M 3.5% ▲ 1.5%
First Trust Advisors LP $341M 1.0M 2.9% ▲ 2.9%
Geode Capital Management, LLC $318M 939K 2.7% ▲ 4.3%
Fuller & Thaler Asset Management, Inc. $302M 894K 2.5% ▲ 58.8%
Dimensional Fund Advisors LP $244M 721K 2.0% 0.0%
Wellington Management Group LLP $214M 632K 1.8% ▼ 16.3%
Norges Bank $196M 580K 1.6% —
FMR LLC $194M 574K 1.6% ▲ 13.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Applied Industrial Technologies Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $15.8M 14 trades by 6 insiders · 0% under pre-set plans
Net ▼ $15.8M net selling
Insider Date Trade Shares Price Value
Wallace Peter C Director August 26, 2026 Sell 1,904 $340.45 $648,217
Wells David K. Vice President-CFO & Treasurer August 18, 2026 Sell 1,812 $355.10 $643,441
Andrews Madhuri A Director June 18, 2026 Sell 3,845 $329.89 $1.3M
Hoffner Warren E Iii VP, General Mgr-Fluid Power May 5, 2026 Sell 4,000 $305.72 $1.2M
Hoffner Warren E Iii VP, General Mgr-Fluid Power May 5, 2026 Sell 4,000 $306.35 $1.2M
Wallace Peter C Director February 26, 2026 Sell 5,000 $285.03 $1.4M
Hoffner Warren E Iii VP, General Mgr-Fluid Power February 6, 2026 Sell 4,000 $292.64 $1.2M
Vasquez Jason W VP-Sales & Marketing-USSC February 5, 2026 Sell 5,447 $287.87 $1.6M
Hoffner Warren E Iii VP, General Mgr-Fluid Power February 5, 2026 Sell 4,000 $288.62 $1.2M
Schrimsher Neil A President and CEO February 4, 2026 Sell 8,634 $284.49 $2.5M
Schrimsher Neil A President and CEO February 4, 2026 Sell 1,293 $288.29 $372,759
Schrimsher Neil A President and CEO February 4, 2026 Sell 1,740 $285.39 $496,579

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 26, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • August 13, 2026
  • April 28, 2026
  • January 27, 2026
  • October 28, 2025
  • August 14, 2025

Recent SEC filings

Data status

When each part of this page on Applied Industrial Technologies Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Applied Industrial Technologies Inc in brief

What does Applied Industrial Technologies Inc do?
Applied Industrial Technologies Inc is a US-listed company in the trading companies & distributors industry. Its financial year ends in June.
What is Applied Industrial Technologies Inc's stock ticker?
Applied Industrial Technologies Inc trades under the ticker AIT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Applied Industrial Technologies Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Applied Industrial Technologies Inc reported revenue of $5.1B, 8.5% higher than a year earlier, according to its SEC filings.
What is Applied Industrial Technologies Inc's free cash flow?
Applied Industrial Technologies Inc's free-cash-flow margin is 8.3% of revenue over the trailing twelve months, ranking 8 of the 32 trading companies & distributors companies we cover.
What is Applied Industrial Technologies Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Applied Industrial Technologies Inc's free cash flow after stock-based pay gives ~$250 per share in the base case, and ~$190–$340 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Applied Industrial Technologies Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Applied Industrial Technologies Inc buying back stock, and does it pay a dividend?
Applied Industrial Technologies Inc spent $344M on share repurchases over the trailing twelve months, and its diluted share count fell 2.8% over the year.
What is Applied Industrial Technologies Inc's market cap?
On November 2, 2026, Applied Industrial Technologies Inc's market capitalisation was about $11.2B, with a price-to-earnings ratio of 26.5 and net debt of $170M. Market figures come from third-party market data and may be delayed.
Does Applied Industrial Technologies Inc pay a dividend?
Yes: Applied Industrial Technologies Inc paid $74M in dividends over the trailing twelve months, a dividend yield of 0.67% and a payout ratio of 17.4%.
How much debt does Applied Industrial Technologies Inc have?
Applied Industrial Technologies Inc's debt-to-equity ratio is 15.0%, from its latest balance sheet (62.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Applied Industrial Technologies Inc's competitors?
In our Trading Companies & Distributors peer group, the companies closest to Applied Industrial Technologies Inc are Herc Holdings Inc, Siteone Landscape Supply, Inc., MSC Industrial Direct Co Inc, Rush Enterprises Inc \tx\ and Watsco Inc. The side-by-side comparison below sets their revenue, margins and growth against Applied Industrial Technologies Inc's.
Are insiders buying or selling Applied Industrial Technologies Inc stock?
Over the last 12 months, Applied Industrial Technologies Inc's directors and officers reported 0 open-market purchases and 14 sales on Form 4. The insider trading page charts every trade.
When is Applied Industrial Technologies Inc's next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Applied Industrial Technologies Inc announces its own schedule.