Applied Industrial Technologies (AIT)
Market Price (5/15/2026): $316.0 | Market Cap: $11.8 BilSector: Industrials | Industry: Trading Companies & Distributors
Applied Industrial Technologies (AIT)
Market Price (5/15/2026): $316.0Market Cap: $11.8 BilSector: IndustrialsIndustry: Trading Companies & Distributors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 27% Megatrend and thematic driversMegatrends include Automation & Robotics, Water Infrastructure, and Sustainable Infrastructure. Themes include Factory Automation, Show more. | Trading close to highsDist 52W High is -0.1%, Dist 3Y High is -0.1% | Key risksAIT key risks include [1] flawed execution of its M&A-dependent growth strategy and [2] the potential loss of key supplier relationships. |
| Low stock price volatilityVol 12M is 27% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, Water Infrastructure, and Sustainable Infrastructure. Themes include Factory Automation, Show more. |
| Trading close to highsDist 52W High is -0.1%, Dist 3Y High is -0.1% |
| Key risksAIT key risks include [1] flawed execution of its M&A-dependent growth strategy and [2] the potential loss of key supplier relationships. |
Qualitative Assessment
AI Analysis | Feedback
1. Applied Industrial Technologies (AIT) reported strong fiscal third-quarter 2026 results that surpassed analyst expectations and led to an upward revision of its full-year guidance.
On April 28, 2026, AIT announced Q3 FY26 net sales of $1.25 billion, exceeding analyst estimates of $1.22 billion, and diluted earnings per share (EPS) of $2.65, which also beat the consensus estimate of $2.63. This represented a 7.3% year-over-year increase in net sales and a 3.1% rise in EPS. Management subsequently raised its full-year fiscal 2026 EPS guidance to a range of $10.64-$10.75 (from $10.45-$10.75 previously) and total sales growth guidance to 7.2%-7.7% (from 5.5%-7.0%).
2. Analysts responded positively to the company's performance and outlook, leading to multiple price target increases and rating upgrades.
Several research firms raised their price targets for AIT during the period. KeyCorp lifted its price target from $300.00 to $330.00 on February 26th, maintaining an "overweight" rating. Oppenheimer raised its price target from $300 to $350 on April 29th, reiterating an "Outperform" rating. Mizuho also increased its price target to $330 from $305 on April 29th, while maintaining an "Outperform" rating. Wall Street Zen upgraded shares of AIT from a "hold" to a "buy" rating on April 11th. This contributed to a consensus "Moderate Buy" rating among analysts.
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Stock Movement Drivers
Fundamental Drivers
The 21.3% change in AIT stock from 1/31/2026 to 5/14/2026 was primarily driven by a 20.1% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5142026 | Change |
|---|---|---|---|
| Stock Price ($) | 259.93 | 315.21 | 21.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,754 | 4,839 | 1.8% |
| Net Income Margin (%) | 8.5% | 8.3% | -1.8% |
| P/E Multiple | 24.2 | 29.1 | 20.1% |
| Shares Outstanding (Mil) | 38 | 37 | 1.0% |
| Cumulative Contribution | 21.3% |
Market Drivers
1/31/2026 to 5/14/2026| Return | Correlation | |
|---|---|---|
| AIT | 21.3% | |
| Market (SPY) | 8.4% | 48.4% |
| Sector (XLI) | 5.8% | 71.1% |
Fundamental Drivers
The 23.1% change in AIT stock from 10/31/2025 to 5/14/2026 was primarily driven by a 20.7% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5142026 | Change |
|---|---|---|---|
| Stock Price ($) | 256.15 | 315.21 | 23.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,664 | 4,839 | 3.7% |
| Net Income Margin (%) | 8.6% | 8.3% | -3.1% |
| P/E Multiple | 24.1 | 29.1 | 20.7% |
| Shares Outstanding (Mil) | 38 | 37 | 1.4% |
| Cumulative Contribution | 23.1% |
Market Drivers
10/31/2025 to 5/14/2026| Return | Correlation | |
|---|---|---|
| AIT | 23.1% | |
| Market (SPY) | 10.3% | 44.5% |
| Sector (XLI) | 13.2% | 65.5% |
Fundamental Drivers
The 30.5% change in AIT stock from 4/30/2025 to 5/14/2026 was primarily driven by a 20.9% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5142026 | Change |
|---|---|---|---|
| Stock Price ($) | 241.50 | 315.21 | 30.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,479 | 4,839 | 8.0% |
| Net Income Margin (%) | 8.6% | 8.3% | -3.2% |
| P/E Multiple | 24.0 | 29.1 | 20.9% |
| Shares Outstanding (Mil) | 38 | 37 | 3.2% |
| Cumulative Contribution | 30.5% |
Market Drivers
4/30/2025 to 5/14/2026| Return | Correlation | |
|---|---|---|
| AIT | 30.5% | |
| Market (SPY) | 36.5% | 47.3% |
| Sector (XLI) | 34.8% | 64.6% |
Fundamental Drivers
The 137.4% change in AIT stock from 4/30/2023 to 5/14/2026 was primarily driven by a 89.1% change in the company's P/E Multiple.| (LTM values as of) | 4302023 | 5142026 | Change |
|---|---|---|---|
| Stock Price ($) | 132.80 | 315.21 | 137.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,316 | 4,839 | 12.1% |
| Net Income Margin (%) | 7.7% | 8.3% | 7.9% |
| P/E Multiple | 15.4 | 29.1 | 89.1% |
| Shares Outstanding (Mil) | 39 | 37 | 3.7% |
| Cumulative Contribution | 137.4% |
Market Drivers
4/30/2023 to 5/14/2026| Return | Correlation | |
|---|---|---|
| AIT | 137.4% | |
| Market (SPY) | 86.9% | 61.7% |
| Sector (XLI) | 82.5% | 73.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AIT Return | 34% | 24% | 38% | 40% | 8% | 21% | 319% |
| Peers Return | 25% | 4% | 25% | 30% | 14% | 16% | 178% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| AIT Win Rate | 58% | 58% | 58% | 75% | 42% | 80% | |
| Peers Win Rate | 62% | 45% | 58% | 55% | 55% | 68% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| AIT Max Drawdown | -21% | -19% | -16% | -15% | -23% | -13% | |
| Peers Max Drawdown | -19% | -22% | -18% | -23% | -21% | -18% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GWW, FAST, GPC, MSM, DXPE. See AIT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/14/2026 (YTD)
How Low Can It Go
| Event | AIT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.5% | -18.8% |
| % Gain to Breakeven | 29.1% | 23.1% |
| Time to Breakeven | 106 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.9% | -6.7% |
| % Gain to Breakeven | 16.2% | 7.1% |
| Time to Breakeven | 29 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -11.9% | -24.5% |
| % Gain to Breakeven | 13.5% | 32.4% |
| Time to Breakeven | 18 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -52.5% | -33.7% |
| % Gain to Breakeven | 110.6% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -34.0% | -19.2% |
| % Gain to Breakeven | 51.5% | 23.8% |
| Time to Breakeven | 693 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.3% | -6.8% |
| % Gain to Breakeven | 28.7% | 7.3% |
| Time to Breakeven | 141 days | 15 days |
In The Past
Applied Industrial Technologies's stock fell -22.5% during the 2025 US Tariff Shock. Such a loss loss requires a 29.1% gain to breakeven.
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Asset Allocation
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| Event | AIT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.5% | -18.8% |
| % Gain to Breakeven | 29.1% | 23.1% |
| Time to Breakeven | 106 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -52.5% | -33.7% |
| % Gain to Breakeven | 110.6% | 50.9% |
| Time to Breakeven | 82 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -34.0% | -19.2% |
| % Gain to Breakeven | 51.5% | 23.8% |
| Time to Breakeven | 693 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.3% | -6.8% |
| % Gain to Breakeven | 28.7% | 7.3% |
| Time to Breakeven | 141 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -27.9% | -17.9% |
| % Gain to Breakeven | 38.7% | 21.8% |
| Time to Breakeven | 117 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -51.6% | -53.4% |
| % Gain to Breakeven | 106.8% | 114.4% |
| Time to Breakeven | 524 days | 1085 days |
In The Past
Applied Industrial Technologies's stock fell -22.5% during the 2025 US Tariff Shock. Such a loss loss requires a 29.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Applied Industrial Technologies (AIT)
AI Analysis | Feedback
1. It's like the **Grainger** of highly engineered industrial components and maintenance services.
2. Think of it as **Fastenal**, but offering a much broader and more complex range of industrial parts, systems, and technical repair solutions.
AI Analysis | Feedback
```html- Bearings: Components designed to reduce friction and allow smooth motion between machine parts.
- Power Transmission Products: A range of items including motors, belting, drives, and couplings, used for mechanical power transfer.
- Fluid Power Components & Systems: Engineered hydraulic and pneumatic components, as well as complete fluid power systems.
- Flow Control Solutions: Specialty products like valves, fittings, process instrumentation, actuators, and industrial hoses to manage fluid flow.
- Advanced Automation Products: Technologies and components for industrial automation applications.
- Industrial Rubber Products: Various rubber-based items, including conveyor belts and rubber linings, for industrial use.
- Linear Motion Components: Components that enable precise movement in a straight line within machinery.
- Tools & Safety Products: A selection of industrial tools and products designed to ensure workplace safety.
- Oilfield & General Industrial Supplies: Specialized supplies for the oil and gas industry, alongside general industrial and maintenance supplies.
- Fabricated Rubber Services: Custom fabrication of rubber products, including conveyor belt and rubber lining installation, modification, and repair.
- Hose Assemblies: Providing custom-assembled hose solutions for various industrial applications.
- Equipment Repair & Technical Support: Services for repairing industrial equipment and offering technical assistance for product and system usage.
AI Analysis | Feedback
Major Customers of Applied Industrial Technologies (AIT)
Applied Industrial Technologies (AIT) operates primarily as a business-to-business (B2B) distributor of industrial products and services. Due to the nature of its business, which involves serving a wide array of diverse industries with a broad range of products, AIT typically has a fragmented customer base. As such, specific names of individual major customer companies are generally not publicly disclosed in their financial filings unless a single customer accounts for a significant portion (e.g., 10% or more) of their revenue, which is not indicated for AIT.
Instead, AIT serves a broad spectrum of industrial and governmental entities across various sectors. The company's customer base primarily consists of other companies and organizations operating in the following industries:
- Agriculture and Food Processing
- Cement
- Chemicals and Petrochemicals
- Fabricated Metals
- Forest Products
- Industrial Machinery and Equipment
- Life Sciences
- Mining
- Oil and Gas
- Primary Metals
- Technology
- Transportation
- Utilities
In addition to these industrial sectors, AIT also provides products and services to government entities.
AI Analysis | Feedback
- SKF (SKFRY)
- The Timken Company (TKR)
- Parker Hannifin Corporation (PH)
- Gates Industrial Corporation plc (GTX)
- Eaton Corporation plc (ETN)
- ABB Ltd (ABB)
- RBC Bearings Incorporated (RBC)
- Continental AG (CTTAY)
AI Analysis | Feedback
Neil A. Schrimsher President & Chief Executive Officer
Neil A. Schrimsher was appointed President and Chief Executive Officer of Applied Industrial Technologies in October 2011, having joined the company in 2011. Prior to joining Applied, he served as Executive Vice President of Cooper Industries, a global electrical products manufacturer, where he led multiple businesses and spearheaded domestic and international growth initiatives. Before his time at Cooper Industries, which he joined in 2006 as President of Cooper Lighting, Mr. Schrimsher worked for Siemens Energy & Automation from 2001 to 2006, holding positions as Vice President of the Residential Infrastructure Division and Vice President of Power Distribution & Controls. He began his career at General Electric Company in 1984, progressing through various sales and marketing roles within GE Lighting. Mr. Schrimsher holds an MBA from John Carroll University and a Bachelor of Science in Business Administration (Marketing) from the University of Tennessee.
David K. Wells Vice President – Chief Financial Officer & Treasurer
David K. Wells joined Applied Industrial Technologies in May 2017 as Vice President – Finance and was appointed Vice President – Chief Financial Officer & Treasurer in August 2017. In this role, he is responsible for the company's financial, treasury, and capital management, as well as internal and external financial reporting and investor relations. Before joining Applied, Mr. Wells served as Vice President & CFO at Colfax Corporation – ESAB/Fabrication Technologies. His career also includes a five-year tenure as Vice President & CFO at Apex Tool Group, and extensive industrial experience gained through various leadership positions at both Danaher Corporation and Cooper Industries. He holds a Bachelor of Arts degree in Business Administration from Grove City College and an MBA from Ashland University.
Jon S. Ploetz Vice President – General Counsel & Secretary
Jon S. Ploetz joined Applied Industrial Technologies in March 2023 as Vice President – General Counsel & Secretary. In this position, he oversees the Company's global legal affairs, governance and compliance activities, environmental, social, and governance (ESG) efforts, and corporate secretary duties. Prior to joining Applied, Mr. Ploetz was with Harsco Corporation, a global provider of environmental solutions for industrial and specialty waste streams, where he served as Vice President, Assistant General Counsel & Assistant Corporate Secretary since 2018, and previously as Assistant General Counsel, Corporate & Securities.
Jeremy S. Moorman Vice President – Operational Excellence
Jeremy S. Moorman joined Applied Industrial Technologies in 2016 as Vice President – Operational Excellence. In this capacity, he is responsible for developing and implementing operational excellence priorities aimed at improving customer service, profitable sales growth, margin expansion, cost productivity, and working capital. He also has executive oversight of the Applied Automation℠ division. Prior to his role at Applied, Mr. Moorman served at Apex Tool Group, a leading global manufacturer of hand, industrial, and specialty tools.
Lonny D. Lawrence Vice President – Information Technology
Lonny D. Lawrence joined Applied Industrial Technologies in 2008 as Vice President – Information Technology. He is responsible for the Company's global information technology strategy and its execution. Before joining Applied, Mr. Lawrence served as Vice President – Operations for Bearing Distributors, Inc. (BDI). Throughout his career spanning over 35 years, he has held various positions in operations, quality, sales, and information technology within the industrial distribution sector.
AI Analysis | Feedback
The key risks to Applied Industrial Technologies (AIT) primarily stem from its reliance on acquisitions for growth in a muted industrial demand environment, the inherent challenges associated with integrating acquired businesses, and persistent cost pressures impacting profit margins.
- Muted Industrial Demand and Reliance on Mergers & Acquisitions (M&A) for Growth: Applied Industrial Technologies faces a significant risk from a subdued industrial demand environment, which has led to lagging organic growth. The company has become heavily dependent on mergers and acquisitions to drive its top-line growth. The industrial sector is cyclical, meaning that economic downturns or shifts in demand can negatively impact AIT's sales and overall performance. If the industrial market remains soft or declines, and acquisition opportunities become less frequent or impactful, AIT's growth trajectory could be significantly hampered.
- M&A Execution and Integration Challenges: Given AIT's strategy of growth through acquisitions, there is an inherent risk in successfully sourcing, executing, and integrating new businesses. Challenges in ensuring that newly acquired entities align with AIT's strategy and contribute effectively to overall profitability can arise. Errors in due diligence or integration processes could lead to operational disruptions, increased costs, and failure to realize anticipated synergies, ultimately impacting the company's financial health.
- Cost Pressures and Margin Erosion: Applied Industrial Technologies has experienced challenges with cost pressures and declining EBITDA margins, attributable to factors such as LIFO adjustments and increased operating expenses, including selling, distribution, and administrative (SD&A) costs. The company's strategic pivot towards high-margin automation and engineered solutions, while promising long-term, is an expensive endeavor in the short term, temporarily weighing on the balance sheet. Maintaining margin stability is crucial, and failure to effectively manage rising costs or pass them on to customers could negatively impact earnings and investor confidence.
AI Analysis | Feedback
The emergence and increasing sophistication of additive manufacturing (3D printing) technologies represent a clear emerging threat. As 3D printing capabilities advance and become more cost-effective for industrial-grade materials, it could become feasible for customers or specialized local service providers to manufacture on-demand certain industrial components that Applied Industrial Technologies currently distributes. This shift could include custom fluid power parts, specific fittings, or specialized wear components, thereby reducing the reliance on traditional inventory, distribution networks, and the need for a distributor like AIT for these items.
AI Analysis | Feedback
Applied Industrial Technologies (AIT) operates within several significant addressable markets for its main products and services, primarily across North America and globally. The company's diverse offerings contribute to a total addressable market estimated at approximately $80 billion and growing.
Key Addressable Markets:
- Bearings: The global bearings market was valued at approximately USD 153.8 billion in 2025 and is projected to reach USD 288.6 billion by 2036. Specifically, the North America bearings market was valued at USD 23.8 billion in 2023 and is expected to reach USD 41.06 billion by 2030. Another estimate places the North American bearing market size at approximately USD 60 billion. The U.S. market alone for bearings generated revenue of about USD 8.2 billion in 2024.
- Power Transmission & Distribution: The global power transmission and distribution market was valued at USD 342.64 billion in 2024 and is projected to reach USD 432.23 billion by 2030. The North America power transmission and distribution market generated revenue of USD 98.14 billion in 2024 and is expected to reach USD 125.48 billion by 2030. For electric power transmission and distribution equipment specifically, the North America market was valued at USD 87.05 billion in 2024 and is expected to reach USD 121.59 billion by 2030.
- Industrial Valves (Flow Control): The global industrial valves market was valued at USD 82.9 billion in 2025 and is estimated to reach USD 136.0 billion by 2034. Another source values the global market at USD 86.67 billion in 2025, projected to reach USD 273.49 billion by 2035. The North America industrial valves market was estimated at USD 20.14 billion in 2024 and is projected to reach USD 30.11 billion by 2033. Another report indicates the North America industrial valve market to be USD 18.4 billion in 2024, growing to USD 27.8 billion by 2034.
- Industrial Automation: The global industrial automation market was valued at USD 192.02 billion in 2024 and is expected to reach USD 420.49 billion by 2033. Another estimate places the global market at USD 272.51 billion in 2025, projected to rise to USD 632.12 billion by 2034. The North America industrial automation market generated a revenue of USD 64.43 billion in 2025 and is expected to reach USD 134.61 billion by 2033. Other estimates for North America include USD 47 billion in 2023 and USD 46.23 billion in 2024, projected to reach USD 84.75 billion by 2032.
- Industrial Rubber Products: The global industrial rubber products market was valued at USD 27.69 billion in 2024, rising to USD 28.80 billion in 2025, and is forecast to reach USD 39.41 billion by 2033. The North America industrial rubber products market was estimated at USD 13.48 billion in 2025. Another source indicates North America's industrial rubber segment reached USD 20.27 billion in 2024. The North American market holds approximately 35% of the global market share.
AI Analysis | Feedback
Applied Industrial Technologies (AIT) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:
- Strategic Acquisitions: Acquisitions have been a consistent and significant contributor to Applied Industrial Technologies' revenue growth. Sales from acquisitions contributed over 400 basis points of inorganic growth in fiscal year 2025, and the company actively pursues mid-sized targets to enhance its technical differentiation and value-added service capabilities. Recent examples include the strategic acquisition of Hydradyne and Thompson Industrial Supply.
- Growth in Engineered Solutions, particularly Automation and Fluid Power: The Engineered Solutions segment, which focuses on advanced automation products and engineered fluid power components and systems, is a primary driver of strategic growth. The company has seen significant demand and strong order momentum in automation and fluid power. Sales in the automation business increased 3% on an organic basis in the second quarter of 2026, and automation orders were up 20% year-over-year. Applied Industrial Technologies is positioned to benefit from trends in machinery automation and electronic control integration.
- Effective Pricing Strategies: Applied Industrial Technologies has successfully utilized pricing to contribute to its sales growth. The company reported a pricing contribution of approximately 250 basis points in the second quarter of 2026 and about 200 basis points in the first quarter of 2026, reflecting the effective pass-through of supplier price increases.
- Expansion of Digital Channels: The company is experiencing incremental growth through its digital platforms, including EDI and applied.com. Sales through these digital channels increased approximately 9% during fiscal year 2024, with a 6% increase in the fourth quarter of that fiscal year. Continued investment in these channels is expected to capture new growth opportunities.
- Leveraging Macro Industrial Trends: Applied Industrial Technologies is positioned to capitalize on broader industrial trends such as energy efficiency, manufacturing reshoring, and the buildout of AI infrastructure. These trends drive increased demand for technical Maintenance, Repair, and Operations (MRO) needs, capital expenditures, and next-generation industrial solutions like automation and Industrial Internet of Things (IIoT). The company benefits from increased customer focus on diversifying production and reducing supply chain risks through reshoring efforts.
AI Analysis | Feedback
Share Repurchases
- Applied Industrial Technologies authorized a new share buyback program in May 2025, allowing for the repurchase of up to 1.5 million shares of common stock, replacing a previous plan.
- The company has highlighted ongoing share repurchases as a component of its capital deployment strategy to return value to investors.
- Significant share repurchase activity includes approximately $88.96 million for the quarter ending December 31, 2025, and $72.32 million for the quarter ending June 30, 2025.
Share Issuance
- The number of shares outstanding for Applied Industrial Technologies has generally seen a decline in recent years, indicating that repurchases have outweighed any issuances.
- Shares outstanding for the quarter ending December 31, 2025, were 0.038 billion, representing a 2.33% decline year-over-year.
Outbound Investments
- Applied Industrial Technologies has completed nine acquisitions over the last five years, primarily to expand its automation and fluid power offerings.
- Key acquisitions include Hydradyne, LLC for $272 million in November 2024, enhancing fluid power solutions, and Grupo Kopar in May 2024, expanding automation into Mexico.
- In May 2025, the company announced an agreement to acquire IRIS Factory Automation, a bolt-on acquisition aimed at further strengthening its automation solutions.
Capital Expenditures
- Capital expenditures amounted to -$30.02 million over the last 12 months and -$6.28 million in the most recent quarter.
- Forecasted capital expenditures are approximately $27.19 million for fiscal year 2025 and $27.87 million for fiscal year 2026.
- The primary focus of capital expenditures includes investments in sales initiatives, local inventory, and technology enhancements such as predictive analytics and digital sales tools.
Latest Trefis Analyses
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | GEO | GEO | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | RUN | Sunrun | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 0.0% | 0.0% | 0.0% |
| 04172026 | RSG | Republic Services | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.8% | 0.8% | -1.1% |
| 04102026 | VRSK | Verisk Analytics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.3% | 12.3% | 0.0% |
| 04102026 | UHAL | U-Haul | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -1.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 129.73 |
| Mkt Cap | 12.6 |
| Rev LTM | 6,641 |
| Op Inc LTM | 871 |
| FCF LTM | 493 |
| FCF 3Y Avg | 529 |
| CFO LTM | 731 |
| CFO 3Y Avg | 801 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.1% |
| Rev Chg 3Y Avg | 4.7% |
| Rev Chg Q | 8.4% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 1.8% |
| Op Inc Chg 3Y Avg | 4.2% |
| Op Mgn LTM | 9.8% |
| Op Mgn 3Y Avg | 10.3% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 8.7% |
| CFO/Rev 3Y Avg | 9.9% |
| FCF/Rev LTM | 6.6% |
| FCF/Rev 3Y Avg | 8.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 12.6 |
| P/S | 2.0 |
| P/Op Inc | 20.4 |
| P/EBIT | 22.3 |
| P/E | 31.6 |
| P/CFO | 22.5 |
| Total Yield | 3.7% |
| Dividend Yield | 0.3% |
| FCF Yield 3Y Avg | 4.2% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.5% |
| 3M Rtn | 10.2% |
| 6M Rtn | 23.8% |
| 12M Rtn | 29.8% |
| 3Y Rtn | 85.5% |
| 1M Excs Rtn | -1.1% |
| 3M Excs Rtn | 0.4% |
| 6M Excs Rtn | 14.0% |
| 12M Excs Rtn | 1.7% |
| 3Y Excs Rtn | 1.0% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Service Center | 3,057 | 2,967 | 2,566 | 2,200 | 2,242 |
| Engineered Solutions | 1,423 | 1,446 | 1,245 | ||
| Engineered Solutions 1 | 1,036 | 1,004 | |||
| Total | 4,479 | 4,413 | 3,811 | 3,236 | 3,246 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Service Center | 397 | 371 | 298 | 170 | 199 |
| Engineered Solutions | 181 | 175 | 128 | ||
| Corporate and other expense, net | -82 | -73 | -69 | -58 | -60 |
| Engineered Solutions 1 | 93 | -50 | |||
| Total | 496 | 473 | 358 | 205 | 89 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Service Center | 1,865 | 1,736 | 1,455 | 1,333 | 1,314 |
| Engineered Solutions | 1,087 | 1,007 | |||
| Engineered Solutions 1 | 997 | 939 | 970 | ||
| Total | 2,952 | 2,743 | 2,453 | 2,272 | 2,284 |
Price Behavior
| Market Price | $315.21 | |
| Market Cap ($ Bil) | 11.7 | |
| First Trading Date | 09/07/1984 | |
| Distance from 52W High | -0.1% | |
| 50 Days | 200 Days | |
| DMA Price | $282.57 | $268.26 |
| DMA Trend | up | up |
| Distance from DMA | 11.6% | 17.5% |
| 3M | 1YR | |
| Volatility | 24.3% | 26.5% |
| Downside Capture | 78.29 | 83.61 |
| Upside Capture | 96.09 | 97.01 |
| Correlation (SPY) | 61.4% | 47.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.53 | 1.01 | 0.90 | 0.86 | 1.04 | 1.19 |
| Up Beta | 0.90 | 0.82 | 0.85 | 1.04 | 1.34 | 1.29 |
| Down Beta | 1.56 | 1.53 | 2.11 | 1.21 | 1.15 | 1.08 |
| Up Capture | 80% | 101% | 89% | 82% | 80% | 185% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 14 | 23 | 37 | 71 | 132 | 397 |
| Down Capture | -261% | 95% | 32% | 56% | 91% | 104% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 20 | 27 | 54 | 120 | 356 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AIT | |
|---|---|---|---|---|
| AIT | 37.0% | 26.5% | 1.16 | - |
| Sector ETF (XLI) | 25.3% | 15.3% | 1.27 | 66.9% |
| Equity (SPY) | 29.1% | 12.0% | 1.83 | 47.2% |
| Gold (GLD) | 42.9% | 26.8% | 1.30 | 0.1% |
| Commodities (DBC) | 44.5% | 18.5% | 1.84 | -18.0% |
| Real Estate (VNQ) | 12.1% | 13.4% | 0.60 | 42.4% |
| Bitcoin (BTCUSD) | -23.7% | 41.7% | -0.54 | 17.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AIT | |
|---|---|---|---|---|
| AIT | 25.9% | 30.6% | 0.79 | - |
| Sector ETF (XLI) | 12.3% | 17.4% | 0.55 | 70.8% |
| Equity (SPY) | 13.7% | 17.1% | 0.63 | 59.0% |
| Gold (GLD) | 20.0% | 17.9% | 0.91 | 3.5% |
| Commodities (DBC) | 10.7% | 19.4% | 0.44 | 16.2% |
| Real Estate (VNQ) | 3.2% | 18.8% | 0.07 | 47.3% |
| Bitcoin (BTCUSD) | 6.8% | 55.9% | 0.33 | 19.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AIT | |
|---|---|---|---|---|
| AIT | 23.4% | 33.2% | 0.72 | - |
| Sector ETF (XLI) | 14.2% | 20.0% | 0.63 | 72.1% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 61.6% |
| Gold (GLD) | 13.4% | 15.9% | 0.69 | 1.4% |
| Commodities (DBC) | 8.3% | 17.9% | 0.38 | 25.2% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 51.2% |
| Bitcoin (BTCUSD) | 67.9% | 66.9% | 1.07 | 14.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/28/2026 | 1.1% | 2.0% | |
| 1/27/2026 | -6.8% | -4.1% | -0.1% |
| 10/28/2025 | -0.8% | -2.6% | -1.4% |
| 8/14/2025 | -1.0% | -4.6% | -4.4% |
| 5/1/2025 | -6.0% | -11.3% | -6.7% |
| 1/29/2025 | 0.9% | 3.1% | -2.8% |
| 10/24/2024 | 3.6% | 5.5% | 20.5% |
| 8/15/2024 | 0.7% | 3.0% | 2.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 15 |
| # Negative | 9 | 10 | 8 |
| Median Positive | 2.9% | 3.9% | 5.4% |
| Median Negative | -4.9% | -4.4% | -3.6% |
| Max Positive | 12.1% | 19.0% | 20.5% |
| Max Negative | -7.5% | -11.3% | -16.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 01/27/2026 | 10-Q |
| 09/30/2025 | 10/28/2025 | 10-Q |
| 06/30/2025 | 08/15/2025 | 10-K |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 01/29/2025 | 10-Q |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 08/16/2024 | 10-K |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 01/26/2024 | 10-Q |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-K |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 01/27/2023 | 10-Q |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-K |
Recent Forward Guidance [BETA]
Latest: Q3 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 EPS | 2.85 | 2.9 | 2.96 | ||||
| Q4 2026 Total sales growth | 4.5% | 5.25% | 6.0% | ||||
| Q4 2026 Organic sales growth | 4.0% | 4.75% | 5.5% | ||||
| Q4 2026 EBITDA margin | 12.6% | 12.7% | 12.8% | ||||
| 2026 EPS | 10.6 | 10.7 | 10.8 | 0.9% | 1.0% | Raised | Guidance: 10.6 for 2026 |
| 2026 Total sales growth | 7.2% | 7.45% | 7.7% | 19.2% | 1.2% | Raised | Guidance: 6.25% for 2026 |
| 2026 Organic sales growth | 3.8% | 4.0% | 4.2% | 23.1% | 0.8% | Raised | Guidance: 3.25% for 2026 |
| 2026 EBITDA margin | 12.3% | 12.35% | 12.4% | 0.4% | 0.0% | Raised | Guidance: 12.3% for 2026 |
Prior: Q2 2026 Earnings Reported 1/27/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 EPS | 10.4 | 10.6 | 10.8 | 1.2% | Raised | Guidance: 10.5 for 2026 | |
| 2026 Sales Growth | 5.5% | 6.25% | 7.0% | 13.6% | 0.8% | Raised | Guidance: 5.5% for 2026 |
| 2026 Organic Sales Growth | 2.5% | 3.25% | 4.0% | 30.0% | 0.8% | Raised | Guidance: 2.5% for 2026 |
| 2026 EBITDA Margin | 12.2% | 12.3% | 12.4% | -0.4% | -0.0% | Lowered | Guidance: 12.35% for 2026 |
| 2026 LIFO Expense | 24.00 Mil | 25.00 Mil | 26.00 Mil | ||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hoffner, Warren E Iii | VP, General Mgr-Fluid Power | Direct | Sell | 5062026 | 306.04 | 8,000 | 2,448,280 | 12,471,232 | Form |
| 2 | Wallace, Peter C | Direct | Sell | 2272026 | 285.03 | 5,000 | 1,425,150 | 6,891,740 | Form | |
| 3 | Hoffner, Warren E Iii | VP, General Mgr-Fluid Power | Direct | Sell | 2102026 | 292.64 | 4,000 | 1,170,560 | 14,266,493 | Form |
| 4 | Hoffner, Warren E Iii | VP, General Mgr-Fluid Power | Direct | Sell | 2062026 | 288.62 | 4,000 | 1,154,480 | 15,224,994 | Form |
| 5 | Vasquez, Jason W | VP-Sales & Marketing-USSC | Direct | Sell | 2062026 | 287.87 | 5,447 | 1,568,028 | 4,171,524 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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