APPLIED INDUSTRIAL TECHNOLOGIES INC AIT
We are a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies and related maintenance supplies. Through our comprehensive network of approximately 6,900 employee associates and approximately 580 facilities including service center, fluid power, flow control, and automation operations, as well as repair shops and distribution centers, we offer a selection of more than 9.4 million stock keeping units with a focus on industrial bearings, power transmission products, fluid power components and systems, specialty flow control, and advanced factory automation solutions, as well as general maintenance products. Our customers use our products and services for both Maintenance, Repair, and Operations ("MRO"), Original Equipment Manufacturing ("OEM"), and new system install applications across a variety of end markets primarily in North America, as well as Australia, New Zealand, and Singapore.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.97B | $4.56B | $4.48B | $4.41B | $3.81B | $3.24B | $3.25B | $3.47B | $3.07B | $2.59B |
| Cost of revenue | $3.46B | $3.18B | $3.14B | $3.13B | $2.70B | $2.30B | $2.31B | $2.47B | $2.19B | $1.86B |
| Gross profit | $1.51B | $1.38B | $1.34B | $1.29B | $1.11B | $935.5M | $937.7M | $1.01B | $884.0M | $737.7M |
| SG&A | $957.3M | $884.6M | $840.8M | $813.8M | $749.1M | $680.5M | $717.7M | $742.2M | $658.2M | $562.3M |
| Operating income | $549.5M | $498.5M | $495.8M | $473.2M | $357.9M | $205.5M | $89.0M | $233.8M | $225.8M | $175.4M |
| Interest expense | $17.4M | $18.2M | $20.5M | $24.8M | $26.8M | $30.8M | $37.3M | $40.8M | $24.1M | $8.8M |
| Pre-tax income | $544.3M | $501.0M | $498.1M | $449.8M | $329.8M | $177.1M | $55.2M | $194.5M | $204.7M | $167.0M |
| Income tax | $129.7M | $108.0M | $112.4M | $103.1M | $72.4M | $32.3M | $31.2M | $50.5M | $63.1M | $33.1M |
| Net income | $414.5M | $393.0M | $385.8M | $346.7M | $257.4M | $144.8M | $24.0M | $144.0M | $141.6M | $133.9M |
| EPS, basic | 11.09 | 10.26 | 9.98 | 8.98 | 6.69 | 3.73 | 0.62 | 3.72 | 3.65 | 3.43 |
| EPS, diluted | 10.95 | 10.12 | 9.83 | 8.84 | 6.58 | 3.68 | 0.62 | 3.68 | 3.61 | 3.40 |
| Shares, diluted (wtd. avg.) | $37.9M | $38.8M | $39.3M | $39.2M | $39.1M | $39.3M | $39.0M | $39.2M | $39.3M | $39.4M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $127.1M | $388.4M | $460.6M | $344.0M | $184.5M | $257.7M | $268.6M | $108.2M | $54.1M | $105.1M |
| Receivables | $831.2M | $769.7M | $724.9M | $708.4M | $656.4M | $516.3M | $450.0M | $540.9M | $548.8M | $390.9M |
| Inventory | $509.0M | $505.3M | $488.3M | $501.2M | $449.8M | $362.5M | $389.1M | $447.6M | $422.1M | $345.1M |
| Total current assets | $1.58B | $1.75B | $1.77B | $1.65B | $1.36B | $1.20B | $1.16B | $1.15B | $1.06B | $882.5M |
| Property, plant and equipment | $131.7M | $128.2M | $118.5M | $115.0M | $111.9M | $115.6M | $121.9M | $124.3M | $121.3M | $108.1M |
| Goodwill | $704.7M | $699.4M | $619.4M | $578.4M | $563.2M | $560.1M | $540.6M | $662.0M | $646.6M | $206.1M |
| Other intangibles | $312.8M | $348.6M | $245.9M | $235.5M | $250.6M | $279.6M | $343.2M | $368.9M | $435.9M | $163.6M |
| Total assets | $3.01B | $3.18B | $2.95B | $2.74B | $2.45B | $2.27B | $2.28B | $2.33B | $2.29B | $1.39B |
| Accounts payable | $341.1M | $280.1M | $266.9M | $301.7M | $259.5M | $208.2M | $186.3M | $237.3M | $256.9M | $180.6M |
| Short-term debt | — | $0 | $25.1M | $25.2M | $40.2M | $43.5M | $78.6M | $49.0M | $19.2M | $4.8M |
| Total current liabilities | $612.4M | $526.2M | $501.1M | $540.3M | $499.6M | $427.7M | $426.1M | $423.8M | $432.6M | $309.8M |
| Long-term debt | $262.3M | $572.3M | $572.3M | $596.9M | $649.1M | $784.9M | $855.1M | $908.9M | $944.5M | $286.8M |
| Total liabilities | $1.15B | $1.33B | $1.26B | $1.28B | $1.30B | $1.34B | $1.44B | $1.43B | $1.47B | $642.3M |
| Retained earnings | $2.79B | $2.45B | $2.12B | $1.79B | $1.50B | $1.29B | $1.20B | $1.23B | $1.13B | $1.03B |
| Total equity | $1.86B | $1.84B | $1.69B | $1.46B | $1.15B | $932.5M | $843.5M | $897.0M | $815.0M | $745.3M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $484.1M | $492.4M | $371.4M | $344.0M | $187.6M | $241.7M | $296.7M | $180.6M | $147.3M | $164.6M |
| Depreciation and amortisation | $25.9M | $24.9M | $23.4M | $22.3M | $21.7M | $20.8M | $21.2M | $20.2M | $17.8M | $15.3M |
| Stock-based compensation | — | — | — | — | — | — | $4.0M | $4.5M | $4.7M | $3.6M |
| Capital expenditure | $23.6M | $27.2M | $24.9M | $26.5M | $18.1M | $15.9M | $20.1M | $19.0M | $23.2M | $17.0M |
| Investing cash flow | -$33.9M | -$318.8M | -$95.4M | -$60.8M | -$35.7M | -$44.9M | -$55.4M | -$55.1M | -$797.9M | -$16.9M |
| Financing cash flow | -$711.5M | -$245.6M | -$156.5M | -$126.9M | -$223.0M | -$213.0M | -$78.2M | -$71.5M | $600.3M | -$103.3M |
| Dividends paid | $72.6M | $63.7M | $55.9M | $53.4M | $51.8M | $50.7M | $48.9M | $47.3M | $45.9M | $44.6M |
| Buybacks | $317.2M | $152.8M | $73.4M | $716.0K | $13.8M | $40.1M | $0 | $11.2M | $22.8M | $8.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000109563-26-000033.
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