Tearsheet

Applied Industrial Technologies (AIT)

Market Price (12/25/2025): $263.94 | Market Cap: $10.0 Bil
Sector: Industrials | Industry: Trading Companies & Distributors

Applied Industrial Technologies (AIT)

Market Price (12/25/2025): $263.94
Market Cap: $10.0 Bil
Sector: Industrials
Industry: Trading Companies & Distributors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%	Trading close to highs Dist 52W High is -3.8%	Key risks AIT key risks include [1] flawed execution of its M&A-dependent growth strategy and [2] the potential loss of key supplier relationships.
1	Low stock price volatility Vol 12M is 33%
2	Megatrend and thematic drivers Megatrends include Automation & Robotics, Water Infrastructure, and Sustainable Infrastructure. Themes include Factory Automation, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%
1	Low stock price volatility Vol 12M is 33%
2	Megatrend and thematic drivers Megatrends include Automation & Robotics, Water Infrastructure, and Sustainable Infrastructure. Themes include Factory Automation, Show more.
3	Trading close to highs Dist 52W High is -3.8%
4	Key risks AIT key risks include [1] flawed execution of its M&A-dependent growth strategy and [2] the potential loss of key supplier relationships.

Valuation, Metrics & Events

	12/25/25	2024	2023	2022
Share Price CYE	$263.94	$237.73	$170.21	$123.30
Market Cap CYE ($ Bil)	10.0	9.1	6.6	4.8
Total Debt ($ Bil)	0.6	0.6	0.6	0.6
Total Cash ($ Bil)	0.4	0.4	0.5	0.3
Enterprise Value ($ Bil)	10.1	9.7	7.2	5.4
Valuation Ratios
P/S TTM	2.1	2.0	1.5	1.1
P/EBIT TTM	18.6	17.7	12.9	10.2
P/E TTM	24.8	23.3	17.3	14.0
P/FCF TTM	21.9	19.7	19.3	15.3
Sector Ratios
P/S TTM (Sector)	1.7	1.5	1.4	1.1
P/EBIT TTM (Sector)	13.0	11.8	11.2	9.1
P/E TTM (Sector)	17.2	16.5	15.4	12.1
P/FCF TTM (Sector)	13.5	13.3	12.1	8.5

	12/25/25	2024	2023
Share Price CYE	$263.94	$237.73	$170.21
Market Cap CYE ($ Bil)	10.0	9.1	6.6
Total Debt ($ Bil)	0.6	0.6	0.6
Total Cash ($ Bil)	0.4	0.4	0.5
Enterprise Value ($ Bil)	10.1	9.7	7.2
Valuation Ratios
P/S TTM	2.1	2.0	1.5
P/EBIT TTM	18.6	17.7	12.9
P/E TTM	24.8	23.3	17.3
P/FCF TTM	21.9	19.7	19.3
Sector Ratios
P/S TTM (Sector)	1.7	1.5	1.4
P/EBIT TTM (Sector)	13.0	11.8	11.2
P/E TTM (Sector)	17.2	16.5	15.4
P/FCF TTM (Sector)	13.5	13.3	12.1

	AIT	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	4.7
Rev Chg Q	9.2%	7.3%
Rev Chg LTM	4.0%	6.1%
Rev Chg 3Y Avg	5.5%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.5
CFO LTM ($ Bil)	0.5
Net Inc LTM ($ Bil)	0.4
Op Mgn LTM	11.0%	18.8%
CFO/Rev LTM	10.4%	20.4%
Net Inc Mgn	8.6%	13.1%
VALUATION	MODERATE
P/S	2.1	3.3
P/CFO	20.6	15.8
P/FCF	21.9	20.7
P/E	24.8	23.5
STABILITY	VERY GOOD
Debt/Equity	0.06	0.21
Cash/Assets	0.13	0.07

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Upcoming
2/04/2026	Earnings Release	Rev: - EPS: -

AIT Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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1. Strong Fiscal 2026 First Quarter Results. Applied Industrial Technologies reported robust Q1 FY26 results on October 28, 2025, demonstrating a 9.2% year-over-year increase in net sales to $1.2 billion, alongside 3% organic growth and an 11.4% rise in net income to $100.8 million.

2. Significant Earnings Per Share and EBITDA Growth. During the first quarter of fiscal year 2026, the company's Earnings Per Share (EPS) climbed 11.4% to $2.63, and its EBITDA increased by 13.4% to $146.3 million, with the EBITDA margin expanding to 12.2%.

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Stock Movement Drivers

Fundamental Drivers

The 2.1% change in AIT stock from 9/25/2025 to 12/25/2025 was primarily driven by a 2.2% change in the company's Total Revenues ($ Mil).

	9252025	12252025	Change
Stock Price ($)	258.62	263.94	2.06%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4563.42	4664.00	2.20%
Net Income Margin (%)	8.61%	8.61%	0.02%
P/E Multiple	25.01	24.81	-0.82%
Shares Outstanding (Mil)	38.01	37.76	0.66%
Cumulative Contribution			2.05%

LTM = Last Twelve Months as of date shown

Market Drivers

9/25/2025 to 12/25/2025

	Return	Correlation
AIT	2.2%
Market (SPY)	4.9%	40.7%
Sector (XLI)	4.2%	68.4%

Fundamental Drivers

The 14.1% change in AIT stock from 6/26/2025 to 12/25/2025 was primarily driven by a 8.7% change in the company's P/E Multiple.

	6262025	12252025	Change
Stock Price ($)	231.39	263.94	14.07%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4499.37	4664.00	3.66%
Net Income Margin (%)	8.64%	8.61%	-0.28%
P/E Multiple	22.82	24.81	8.72%
Shares Outstanding (Mil)	38.32	37.76	1.47%
Cumulative Contribution			14.04%

LTM = Last Twelve Months as of date shown

Market Drivers

6/26/2025 to 12/25/2025

	Return	Correlation
AIT	14.2%
Market (SPY)	13.1%	43.2%
Sector (XLI)	8.8%	65.4%

Fundamental Drivers

The 9.2% change in AIT stock from 12/25/2024 to 12/25/2025 was primarily driven by a 4.0% change in the company's Total Revenues ($ Mil).

	12252024	12252025	Change
Stock Price ($)	241.74	263.94	9.18%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4483.16	4664.00	4.03%
Net Income Margin (%)	8.57%	8.61%	0.56%
P/E Multiple	24.17	24.81	2.62%
Shares Outstanding (Mil)	38.40	37.76	1.67%
Cumulative Contribution			9.15%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2024 to 12/25/2025

	Return	Correlation
AIT	9.3%
Market (SPY)	15.8%	72.1%
Sector (XLI)	18.6%	78.5%

Fundamental Drivers

The 113.6% change in AIT stock from 12/26/2022 to 12/25/2025 was primarily driven by a 46.6% change in the company's P/E Multiple.

	12262022	12252025	Change
Stock Price ($)	123.59	263.94	113.56%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3981.40	4664.00	17.14%
Net Income Margin (%)	7.07%	8.61%	21.90%
P/E Multiple	16.93	24.81	46.57%
Shares Outstanding (Mil)	38.53	37.76	2.00%
Cumulative Contribution			113.47%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2023 to 12/25/2025

	Return	Correlation
AIT	53.5%
Market (SPY)	48.3%	67.7%
Sector (XLI)	41.7%	77.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
AIT Return	19%	34%	24%	38%	40%	11%	323%
Peers Return	8%	25%	4%	25%	30%	17%	167%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	115%
Monthly Win Rates [3]
AIT Win Rate	50%	58%	58%	58%	75%	50%
Peers Win Rate	53%	62%	45%	58%	55%	57%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
AIT Max Drawdown	-52%	-10%	-12%	-7%	-5%	-14%
Peers Max Drawdown	-44%	-7%	-17%	-10%	-11%	-8%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[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] 2025 data is for the year up to 12/24/2025 (YTD)

How Low Can It Go

Unique Key	Event	AIT	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-21.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	27.0%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	53 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-54.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	119.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	237 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-36.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	57.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	701 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-58.4%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	140.3%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	889 days	1,480 days

Compare to URI, MHH, FAST, FERG, FTAI

In The Past

Applied Industrial Technologies's stock fell -21.3% during the 2022 Inflation Shock from a high on 5/14/2021. A -21.3% loss requires a 27.0% gain to breakeven.

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About Applied Industrial Technologies (AIT)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Applied Industrial Technologies, Inc. distributes industrial products in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, as well as other related supplies for general operational needs of customers' machinery and equipment. It also operates fabricated rubber shops and service field crews that install, modify, and repair conveyor belts and rubber linings, as well as offer hose assemblies. In addition, the company provides equipment repair and technical support services. It distributes industrial products through a network of service centers. The company serves various industries, including 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, and utilities, as well as to government entities. Applied Industrial Technologies, Inc. was founded in 1923 and is headquartered in Cleveland, Ohio.

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They are like Grainger, specializing in mechanical and fluid power industrial components and MRO services for factories.

The Sysco for industrial machinery: they distribute critical parts and provide services to keep factories and heavy equipment operational.

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Bearings and Mechanical Power Transmission Products: These include essential components for machinery such as various types of bearings, belts, chains, gears, and electric motors.
Fluid Power and Flow Control Products: This category encompasses hydraulic and pneumatic components like pumps, valves, cylinders, hoses, and filtration systems, used for motion and fluid control.
Automation Products: AIT distributes advanced technologies for industrial automation, including sensors, controls, robotics, and motion control systems.
Industrial Supplies: This broad range includes maintenance, repair, and operations (MRO) products such as hand and power tools, safety equipment, fasteners, and cleaning supplies.
Engineering and Design Services: AIT provides expertise in designing, optimizing, and troubleshooting industrial systems and applications for its customers.
Repair, Assembly, and Fabrication Services: These services involve repairing industrial equipment, assembling custom components, and fabricating specialized parts to meet customer specifications.
Inventory Management Services: Applied Industrial Technologies offers solutions to help customers optimize their MRO inventory levels, reduce costs, and improve operational efficiency.
Predictive and Preventative Maintenance: Services include programs and technologies designed to monitor equipment health, predict potential failures, and extend asset lifespan through proactive maintenance strategies.

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Applied Industrial Technologies (AIT) Major Customers

Applied Industrial Technologies (Symbol: AIT) - Major Customers

Applied Industrial Technologies (AIT) primarily sells to other companies (B2B model).

As a broad-line industrial distributor, AIT serves a highly diversified customer base across numerous industrial sectors. Due to the fragmented nature of its customer base, AIT does not typically have specific "major customer companies" (individual companies accounting for 10% or more of its revenue) that are publicly disclosed by name in its financial filings. Instead, AIT categorizes its customers by the industries or end markets they operate in.

The major categories of customers (industries) that Applied Industrial Technologies serves include, but are not limited to:

Manufacturing (general industrial)
Food & Beverage
Oil & Gas
Mining
Pulp & Paper
Chemicals
Metals
Agriculture
Government
Utilities
Original Equipment Manufacturers (OEMs)

These categories represent the diverse types of businesses that rely on AIT for maintenance, repair, and operations (MRO) products, fluid power solutions, power transmission products, and related services.

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Neil A. Schrimsher, President & Chief Executive Officer

Neil A. Schrimsher joined Applied Industrial Technologies as Chief Executive Officer in 2011, and his title was expanded to President & CEO in 2013. Prior to joining Applied, he served as Executive Vice President of Cooper Industries, where he led multiple businesses in their Electrical Products Group and spearheaded numerous domestic and international growth initiatives. Before Cooper Industries, Schrimsher worked at Siemens Energy & Automation as Vice President of the Residential Infrastructure Division (2001-2003) and Vice President of Power Distribution & Controls (2003-2006). He began his career at General Electric Company in 1984, holding various positions in GE Lighting, including National Sales Manager and General Manager of Commercial & Industrial Marketing.

David K. Wells, Vice President – Chief Financial Officer & Treasurer

David K. Wells joined Applied Industrial Technologies in May 2017 as Vice President – Finance and became Vice President – Chief Financial Officer & Treasurer in August 2017. He is responsible for financial, treasury, and capital management, as well as internal and external financial reporting and investor relations. Before joining Applied, Wells served as Vice President & CFO at Colfax Corporation – ESAB/Fabrication Technologies. His career also includes five years as Vice President & CFO at Apex Tool Group, and extensive industrial experience at both Danaher Corporation and Cooper Industries in various leadership positions.

Kurt W. Loring, Vice President, Chief Human Resources Officer

Kurt W. Loring serves as the Vice President, Chief Human Resources Officer at Applied Industrial Technologies.

Richard M. Wagner, Chief Accounting Officer & Controller

Richard M. Wagner joined Applied Industrial Technologies in August 2024 as Chief Accounting Officer. In this role, he is responsible for the company's Corporate Accounting functions, SEC reporting, regulatory and financial control compliance, and oversight of the SAP Shared Services, Payables, and Collections groups. Previously, Wagner served as VP, Chief Accounting Officer at Dentsply Sirona.

Jon S. Ploetz, Vice President – General Counsel & Secretary

Jon S. Ploetz joined Applied Industrial Technologies in March 2023 as Vice President – General Counsel & Secretary. He is responsible for the company's global legal affairs, governance and compliance activities, ESG efforts, and corporate secretary duties. Prior to joining Applied, he served at Harsco Corporation, where he held the roles of Vice President, Assistant General Counsel & Assistant Corporate Secretary, and Assistant General Counsel, Corporate & Securities.

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Applied Industrial Technologies (AIT) faces several key risks, primarily stemming from its operational model and reliance on the broader industrial economy. The three most significant risks include:

Macroeconomic Environment and Cyclicality of the Industrial Sector: Applied Industrial Technologies' performance is closely linked to the health of the manufacturing sector, which is inherently cyclical. Future economic downturns in industrial production or shifts in demand could negatively impact the company's sales and overall financial performance.
Mergers and Acquisitions (M&A) Execution: AIT's growth strategy significantly relies on mergers and acquisitions. There is always the potential for challenges in sourcing and integrating new businesses. Errors in careful planning, due diligence, and effective integration could hinder the anticipated benefits of acquisitions and adversely affect AIT's financial results.
Maintaining Key Supplier Relationships and Managing Supply Chain Disruptions: As a leading industrial distributor, AIT relies heavily on strong supplier relationships to provide components like bearings, power transmission, and automation tools. The loss of key supplier relationships or significant supply chain disruptions could directly impact the company's ability to procure products, serve customers, and consequently affect its results of operations and financial condition.

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The increasing penetration and competitive pressure from large e-commerce platforms, particularly Amazon Business, in the industrial B2B distribution space. These platforms leverage superior logistics, vast product catalogs, and streamlined purchasing experiences to offer competitive pricing and convenience, potentially disintermediating traditional distributors like AIT for a growing segment of their MRO (Maintenance, Repair, and Operations) and industrial component sales. This mirrors the disruptive impact of Netflix on Blockbuster by offering a more convenient and often lower-cost alternative to traditional distribution models.

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Applied Industrial Technologies (AIT) operates within several significant addressable markets, primarily as a distributor and technical solutions provider for industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies.

Here are the estimated market sizes for their main product and service categories:

Industrial Distribution Market: The global industrial distribution market was valued at approximately USD 8.41 trillion in 2024 and is projected to grow to about USD 12.95 trillion by 2034, with a compound annual growth rate (CAGR) of 4.41% from 2025 to 2034. In the U.S., this market was valued at USD 2.94 trillion in 2024 and is expected to reach USD 4.24 trillion by 2034, growing at a CAGR of 3.72% from 2025 to 2034. North America held the largest market share, exceeding 40% of the global market.
Bearings Market: The global bearings market was estimated at USD 120.98 billion in 2023 and is projected to reach USD 226.60 billion by 2030, exhibiting a CAGR of 9.5% from 2024 to 2030. More specifically, the global industrial bearings market was valued at approximately US$ 185.5 billion in 2024 and is estimated to reach US$ 398.7 billion by the end of 2035, growing at a CAGR of 7.2% from 2025 to 2035. The U.S. bearings market generated a revenue of approximately USD 8.2 billion in 2024, with expectations to reach around USD 19.9 billion by 2034.
Fluid Power Equipment Market: The global fluid power equipment market size reached USD 51.9 billion in 2024 and is expected to grow to USD 90.2 billion by 2033, demonstrating a CAGR of 6.02% during 2025-2033. North America dominated the fluid power equipment market with a 31.5% share in 2024.
Flow Control Market: The global flow control market is estimated at USD 6.21 billion in 2025 and is anticipated to reach USD 10.21 billion by 2030, with a CAGR of 10.45% during the forecast period (2025-2030). Another report indicates a global market value of USD 59.6 billion in 2024, projected to grow to USD 86 billion by 2035, at a CAGR of 3.38% from 2024 to 2035.
Maintenance, Repair, and Operations (MRO) Market: The global MRO market size was valued at USD 683.5 billion in 2024 and is expected to reach USD 842.6 billion by 2033, with a CAGR of 2.33% during 2025-2033. The United States MRO market is valued at approximately USD 91 billion.

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Applied Industrial Technologies (AIT) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic initiatives and favorable market dynamics:

Strategic Acquisitions: Acquisitions are a consistent and significant contributor to AIT's sales growth and remain a top capital allocation priority for fiscal 2026. For instance, in the first quarter of fiscal 2026, acquisitions accounted for a 6.3% increase in sales. Recent examples include the January 2025 acquisition of Hydradyne, expected to enhance fluid power offerings and add $260 million in sales, and the May 2025 acquisition of IRIS Factory Automation, aimed at boosting automation offerings.
Organic Growth in Service Center Segment: The Service Center segment, which focuses on maintenance, repair, and operations (MRO), is a key driver of organic sales growth. In Q1 FY2026, this segment led organic growth with a 4.4% increase, reflecting strong demand in shorter-cycle maintenance projects and effective internal initiatives.
Expansion in Engineered Solutions (Automation & Technology): The Engineered Solutions segment is poised for growth due to improving order trends, particularly in automation, technology, mobile, and industrial verticals. Management anticipates a reacceleration of discrete automation investments in the coming quarters.
Pricing Actions: Applied Industrial Technologies expects pricing to contribute to its sales growth. For fiscal year 2026, the company forecasts a pricing contribution of 150-200 basis points.
Improving Industrial Market Activity: AIT's leadership is "constructive" regarding its market position as industrial activity gradually strengthens across North America. The company anticipates a "productive demand environment" as macroeconomic clarity continues to emerge, supported by various secular and structural tailwinds in the U.S. industrial economy.

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Share Repurchases

On May 1, 2025, Applied Industrial Technologies' Board of Directors authorized a new share buyback program to repurchase up to 1.5 million shares of common stock, replacing a prior authorization.
As of December 31, 2024, the company had 974,624 shares remaining under a previous repurchase authorization from August 2022 to buy back up to 1.5 million shares.
In the first quarter of fiscal year 2026 (ended October 2025), AIT completed a $98.74 million share buyback, repurchasing 204,136 shares for $53.2 million at an average price of $260.49.

Outbound Investments

Applied Industrial Technologies has made 9 acquisitions in the last five years, with a focus on expanding its automation and fluid power offerings.
The company completed the acquisition of Hydradyne, LLC for $272 million in November 2024, enhancing its fluid power solutions and service capabilities. This acquisition is expected to contribute approximately $260 million in sales and $30 million in EBITDA within the first 12 months.
Other key acquisitions include Grupo Kopar in May 2024 (expanding its automation platform into Mexico) and the September 2023 acquisitions of Bearing Distributors and Cangro Industries (strengthening its U.S. footprint).

Capital Expenditures

Capital expenditures are a component of the company's capital deployment, which totaled $251 million in fiscal year 2024, encompassing M&A, debt reduction, dividends, and share buybacks.
The company emphasizes a returns-based approach to capital investment decision-making.
Capital investments are focused on operational excellence, including investments in technology, analytics, and talent, to strengthen its competitive position, drive organic growth, and enhance operating efficiencies.

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CAT (17.8%)

Caterpillar

GE (17.2%)

GE Aerospace

DE (16.7%)

Deere

Higher FCF/Rev LTM (Value for AIT: 9.8%)

UNP (24.5%)

Union Pacific

UBER (17.5%)

Uber Technologies

GE (14.7%)

GE Aerospace

ETN (12.5%)

Eaton

CAT (11.7%)

Caterpillar

Higher Total Yield (Value for AIT: 4.4%)

UBER (9.8%)

Uber Technologies

UNP (7.4%)

Union Pacific

HON (7.3%)

Honeywell International

DE (5.3%)

Deere

CAT (4.4%)

Caterpillar

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for AIT: 5.5% | 2.1x)

COST (6.7% | 1.4x)

Costco Wholesale

UNH (11.4% | 0.7x)

UnitedHealth

PGR (20.6% | 1.6x)

Progressive

CB (12.2% | 2.1x)

Chubb

HCA (6.6% | 1.6x)

HCA Healthcare

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AIT: 5.5% | 19.4x)

V (10.9% | 17.3x)

Visa

UNH (11.4% | 11.3x)

UnitedHealth

PM (8.0% | 17.1x)

Philip Morris International

ADBE (10.5% | 17.8x)

Adobe

NEM (23.9% | 12.3x)

Newmont

Higher Rev Chg LTM (Value for AIT: 4.0%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for AIT: 5.5%)

NVDA (91.6%)

NVIDIA

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

Higher Op Mgn LTM (Value for AIT: 11.0%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for AIT: 10.4%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for AIT: 9.8%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for AIT: 4.4%)

XOM (9.2%)

Exxon Mobil

JNJ (7.5%)

Johnson & Johnson

JPM (6.4%)

JPMorgan Chase

BRK-B (6.2%)

Berkshire Hathaway

V (5.1%)

Visa

		Best Bets In Industrials Sector
	AIT	GATX	VRSK	PAYX	ADT	AGX	PCTY	TDG	FTV	VRRM	CSW
What You Pay
P/E	24.8	20.0	33.1	25.8	10.3	37.9	37.6	36.9	30.5	69.7	36.0
P/EBIT	18.7	9.6	22.6	17.8	5.2	37.9	27.0	18.2	14.9	20.7	27.8
What You Get
Rev Chg Q	9.2%	8.4%	5.9%	18.3%	4.4%	-2.3%	12.5%	11.5%	2.3%	16.1%	21.5%
Rev Chg LTM	4.0%	10.7%	7.3%	12.4%	6.3%	13.5%	13.3%	11.2%	27.9%	8.5%	14.9%
Rev Chg 3Y Avg	5.5%	10.3%	13.4%	7.9%	3.4%	26.9%	21.4%	17.7%	9.4%	9.1%	11.3%
FCF/Rev 3Y Avg	9.0%	39.2%	33.2%	32.6%	24.7%	24.5%	21.5%	21.0%	20.1%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Applied Industrial Technologies Earnings Notes
2	Applied Industrial Technologies Earnings Notes
3	Can Applied Industrial Technologies Stock Hold Up When Markets Turn?	Return
4	AIT Drops 6.6% in a Day, But Does JNJ Offer Better Fundamentals?	Counter-Intuitive Comparisons
5	After AIT's 6.6% Single Day Slide, LMT Looks Like the Stronger Long-Term Play	Counter-Intuitive Comparisons
6	After AIT's 6.6% Single Day Slide, URI Looks Like the Stronger Long-Term Play	Counter-Intuitive Comparisons
7	How Does Applied Industrial Technologies Stock Stack Up Against Its Peers?	Peer Comparison
8	Better Bet Than AIT Stock: Pay Less Than Applied Industrial Technologies To Get More From MU, MCK
9	Better Bet Than AIT Stock: Pay Less Than Applied Industrial Technologies To Get More From WAB, UAL
10	Better Bet Than AIT Stock: Pay Less Than Applied Industrial Technologies To Get More From MGRC

	Title
0	ARTICLES

Trade Ideas

Select ideas related to AIT. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	18.7%	18.7%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	4.7%	4.7%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.9%	6.9%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.6%	2.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	6.0%	6.0%	-0.4%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
OMER	Omeros	0.9	75.5%	55.5%
DVAX	Dynavax Technologies	1.8	38.2%	20.4%
EWTX	Edgewise Therapeutics	2.9	25.5%	2.2%
AGIO	Agios Pharmaceuticals	1.7	18.6%	-11.2%
TVTX	Travere Therapeutics	3.6	13.9%	131.2%
KOD	Kodiak Sciences	1.6	13.2%	212.4%
RZLT	Rezolute	0.3	13.2%	-44.1%
UP	Wheels Up Experience	0.5	11.7%	-57.4%
FBYD	Falcons Beyond Global	0.7	9.5%	129.7%
BW	Babcock & Wilcox Enterprises	0.5	8.5%	226.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ASTS	AST SpaceMobile	18.9	-8.9%	269.9%
QBTS	D-Wave Quantum	9.4	-5.5%	227.6%
NNE	Nano Nuclear Energy	1.2	-4.6%	21.7%
MNMD	Mind Medicine	1.2	-4.2%	93.0%
PPTA	Perpetua Resources	2.0	-4.0%	149.1%
KOS	Kosmos Energy	0.4	-4.0%	-73.6%
FRMI	Fermi	5.5	-4.0%	-75.7%
EXOD	Exodus Movement	0.4	-3.9%	-50.5%
TLRY	Tilray Brands	10.8	-3.6%	-23.7%
AEHR	Aehr Test Systems	0.7	-3.1%	32.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	74.0%	55.5%
LUNR	Intuitive Machines	2.0	63.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	51.1%	11.2%
FBYD	Falcons Beyond Global	0.7	47.2%	129.7%
FLY	Firefly Aerospace	3.8	45.9%	-55.2%
RKLB	Rocket Lab	39.8	43.0%	203.0%
DVAX	Dynavax Technologies	1.8	42.5%	20.4%
UAMY	United States Antimony	0.8	39.9%	258.8%
DJT	Trump Media & Technology	4.0	36.7%	-58.0%
RZLT	Rezolute	0.3	36.3%	-44.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	31.7	-80.5%	-28.0%
TPL	Texas Pacific Land	6.8	-66.5%	-19.2%
LW	Lamb Weston	6.0	-28.6%	-34.8%
TLRY	Tilray Brands	10.8	-21.2%	-23.7%
INSP	Inspire Medical Systems	2.8	-19.1%	-48.4%
TDUP	ThredUp	0.8	-17.1%	354.7%
OLMA	Olema Pharmaceuticals	2.3	-15.8%	370.8%
IIPR	Innovative Industrial Properties	1.4	-12.9%	-15.7%
ABM	ABM Industries	2.6	-12.6%	-15.8%
FRMI	Fermi	5.5	-12.6%	-75.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	3.0	144.6%	47.5%
TE	T1 Energy	1.1	124.5%	418.4%
ANF	Abercrombie & Fitch	6.0	93.2%	-15.2%
VERA	Vera Therapeutics	3.6	90.4%	31.6%
LUNR	Intuitive Machines	2.0	85.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	82.5%	11.2%
RKLB	Rocket Lab	39.8	81.8%	203.0%
PL	Planet Labs PBC	6.2	76.1%	403.0%
NRGV	Energy Vault	0.8	66.9%	118.9%
FLY	Firefly Aerospace	3.8	60.4%	-55.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-44.1%
JANX	Janux Therapeutics	0.9	-54.6%	-73.3%
LENZ	LENZ Therapeutics	0.5	-46.3%	-40.6%
FRMI	Fermi	5.5	-45.2%	-75.7%
GOGO	Gogo	0.6	-34.1%	-43.0%
HPK	HighPeak Energy	0.6	-30.8%	-69.2%
ORIC	ORIC Pharmaceuticals	0.7	-28.5%	4.5%
FDMT	4D Molecular Therapeutics	0.5	-25.6%	45.4%
NKTR	Nektar Therapeutics	0.6	-25.1%	215.0%
LW	Lamb Weston	6.0	-24.8%	-34.8%

Peer Comparisons for Applied Industrial Technologies

Peers to compare with:

Financials

	AIT	GWW	FAST	GPC	MSM	DXPE	Median
Name	Applied .	W.W. Gra.	Fastenal	Genuine .	MSC Indu.	DXP Ente.
Mkt Price	263.94	1,030.81	41.83	125.38	87.02	114.87	120.12
Mkt Cap	10.0	49.3	48.0	17.4	4.9	1.8	13.7
Rev LTM	4,664	17,750	7,998	24,061	3,770	1,960	6,331
Op Inc LTM	514	2,494	1,616	1,415	313	169	965
FCF LTM	455	1,232	965	134	241	42	348
FCF 3Y Avg	407	1,510	1,069	631	386	64	519
CFO LTM	484	2,048	1,210	666	334	89	575
CFO 3Y Avg	434	2,041	1,279	1,140	481	90	811

Growth & Margins

	AIT	GWW	FAST	GPC	MSM	DXPE	Median
Name	Applied .	W.W. Gra.	Fastenal	Genuine .	MSC Indu.	DXP Ente.
Rev Chg LTM	4.0%	4.8%	6.9%	3.3%	-1.3%	12.8%	4.4%
Rev Chg 3Y Avg	5.5%	6.3%	5.5%	4.1%	0.9%	13.0%	5.5%
Rev Chg Q	9.2%	6.1%	11.7%	4.9%	2.7%	8.6%	7.4%
QoQ Delta Rev Chg LTM	2.2%	1.5%	2.9%	1.2%	0.7%	2.1%	1.8%
Op Mgn LTM	11.0%	14.1%	20.2%	5.9%	8.3%	8.6%	9.8%
Op Mgn 3Y Avg	11.0%	14.9%	20.4%	6.7%	10.4%	8.1%	10.7%
QoQ Delta Op Mgn LTM	0.1%	-1.2%	0.1%	0.1%	-0.2%	0.0%	0.1%
CFO/Rev LTM	10.4%	11.5%	15.1%	2.8%	8.9%	4.5%	9.6%
CFO/Rev 3Y Avg	9.6%	12.0%	16.9%	4.9%	12.4%	5.0%	10.8%
FCF/Rev LTM	9.8%	6.9%	12.1%	0.6%	6.4%	2.2%	6.7%
FCF/Rev 3Y Avg	9.0%	8.9%	14.2%	2.7%	9.9%	3.6%	8.9%

Valuation

	AIT	GWW	FAST	GPC	MSM	DXPE	Median
Name	Applied .	W.W. Gra.	Fastenal	Genuine .	MSC Indu.	DXP Ente.
Mkt Cap	10.0	49.3	48.0	17.4	4.9	1.8	13.7
P/S	2.1	2.8	6.0	0.7	1.3	0.9	1.7
P/EBIT	18.6	19.6	29.6	14.6	16.9	10.4	17.7
P/E	24.8	28.5	39.1	21.6	24.3	20.7	24.6
P/CFO	20.6	24.1	39.7	26.2	14.5	20.3	22.3
Total Yield	4.4%	4.0%	4.6%	7.9%	4.1%	4.8%	4.5%
Dividend Yield	0.4%	0.5%	2.0%	3.2%	0.0%	0.0%	0.4%
FCF Yield 3Y Avg	5.1%	3.5%	2.7%	3.2%	7.4%	7.8%	4.3%
D/E	0.1	0.1	0.0	0.4	0.1	0.4	0.1
Net D/E	0.0	0.0	0.0	0.3	0.1	0.3	0.1

Returns

	AIT	GWW	FAST	GPC	MSM	DXPE	Median
Name	Applied .	W.W. Gra.	Fastenal	Genuine .	MSC Indu.	DXP Ente.
1M Rtn	3.2%	9.5%	4.3%	-1.9%	-1.6%	23.0%	3.8%
3M Rtn	2.1%	8.6%	-12.1%	-7.3%	-1.5%	-4.2%	-2.9%
6M Rtn	14.1%	2.0%	2.3%	6.9%	4.6%	34.0%	5.8%
12M Rtn	9.2%	-4.7%	13.7%	10.3%	18.3%	40.6%	12.0%
3Y Rtn	113.6%	87.4%	88.8%	-22.6%	17.3%	311.7%	88.1%
1M Excs Rtn	2.6%	7.5%	2.3%	-3.5%	-3.3%	29.4%	2.4%
3M Excs Rtn	-2.9%	3.6%	-17.1%	-12.2%	-6.4%	-9.2%	-7.8%
6M Excs Rtn	1.2%	-10.9%	-10.6%	-5.9%	-8.2%	21.1%	-7.1%
12M Excs Rtn	-6.3%	-21.7%	-2.7%	-5.0%	1.3%	28.8%	-3.9%
3Y Excs Rtn	36.7%	7.1%	7.3%	-103.8%	-61.9%	246.2%	7.2%

Comparison Analyses

	Title
0	How Does Applied Industrial Technologies Stock Stack Up Against Its Peers?
1	Applied Industrial Technologies vs. United Rentals: With Return Forecast Of 2.2%, United Rentals Is A Better Bet
2	Why GATX With 21% Upside May Beat AIT?
3	Applied Industrial Technologies vs. Watsco: With Return Forecast Of 2.5%, Watsco Is A Better Bet
4	With 11% Gains On The Table, AIT May Outshine MSM
5	Applied Industrial Technologies vs Univar: Similar Market Cap; Which Stock Is A Better Bet?
6	Applied Industrial Technologies vs IDEXX Laboratories: Similar Revenue; Which Stock Is A Better Bet?
7	Applied Industrial Technologies vs CoStar Group: Similar Income; Which Stock Is A Better Bet?
8	Applied Industrial Technologies vs TeleTech: Similar Market Cap; Which Stock Is A Better Bet?
9	Applied Industrial Technologies vs Quaker Chemical: Similar Market Cap; Which Stock Is A Better Bet?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

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Financials

Annual
Quarterly

$ Mil \| FY: 6/30	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	6/30/2025	6/30/2024	6/30/2023	6/30/2022	6/30/2021	6/30/2020
Filing Date	10/28/2025	8/15/2025	8/16/2024	8/11/2023	8/12/2022	8/17/2021	8/14/2020
Key Financials
Total Revenue	4,664	4,563	4,479	4,413	3,811	3,236	3,246
EBITDA	599	580	571	528	410	263	155
Operating Income	514	499	496	473	358	255	220
Net Income	402	393	386	347	257	145	24
EPS	10.54	10.26	9.98	8.98	6.69	3.73	0.62
Growth Rates
Total Revenue Growth	4.0%	1.9%	1.5%	15.8%	17.8%	-0.3%	-6.5%
EBITDA Growth	7.0%	1.5%	8.2%	28.7%	55.9%	69.4%	-47.8%
Operating Income Growth	5.3%	0.5%	4.8%	32.2%	40.3%	16.0%	-17.3%
Net Income Growth	4.6%	1.9%	11.3%	34.7%	77.8%	502.1%	-83.3%
Margins
EBITDA Margin	12.8%	12.7%	12.7%	12.0%	10.8%	8.1%	4.8%
Operating Income Margin	11.0%	10.9%	11.1%	10.7%	9.4%	7.9%	6.8%
Net Income Margin	8.6%	8.6%	8.6%	7.9%	6.8%	4.5%	0.7%
Cash & Debt
Total Cash	419	388	461	344	184	258	269
Total Debt	572	572	597	622	689	828	934
Net Debt / (Cash)	154	184	137	278	505	571	665
Cash Flows
Net Cash from Operations	484	492	371	344	188	242	297
Free Cash from Operations	455	465	347	317	169	226	277
Returns to Shareholders
Dividends	67	64	56	53	52	51	49
Share Repurchases	196	153	73	1	14	40	-0

$ Mil \| FY: 6/30	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/28/2025	8/15/2025	5/1/2025	1/29/2025	10/25/2024	8/16/2024	4/26/2024	1/26/2024	10/27/2023	8/11/2023	4/28/2023	1/27/2023
Key Financials Quarterly
Total Revenue	1,200	1,225	1,167	1,073	1,099	1,161	1,146	1,077	1,095	1,158	1,132	1,060
Ebitda	146	172	146	134	127	171	134	128	134	143	140	126
Operating Income	129	135	129	121	113	139	121	115	121	127	127	113
Net Income	101	108	100	93	92	103	97	91	94	92	97	80
EPS	2.67	2.84	2.60	2.43	2.40	2.68	2.51	2.35	2.42	2.39	2.52	2.09
Key Financials TTM
Total Revenue TTM	4,664	4,563	4,499	4,479	4,483	4,479	4,477	4,462	4,446	4,413	4,316	4,165
Ebitda TTM	599	580	578	566	560	567	539	545	543	528	505	473
Operating Income TTM	514	499	503	495	488	496	483	489	487	473	456	424
Net Income TTM	402	393	389	386	384	386	374	374	364	347	334	305
Growth Rates Quarterly
Total Revenue Growth	9.2%	5.5%	1.8%	-0.4%	0.3%	0.2%	1.3%	1.6%	3.1%	9.1%	15.4%	20.9%
EBITDA Growth	15.0%	0.7%	9.1%	5.1%	-5.3%	19.5%	-4.5%	1.9%	12.7%	18.8%	29.2%	35.6%
Operating Income Growth	14.0%	-3.1%	6.8%	5.5%	-6.2%	9.9%	-4.5%	1.5%	13.3%	16.1%	32.4%	44.4%
Net Income Growth	9.5%	4.2%	2.7%	2.3%	-1.9%	12.2%	0.0%	13.4%	22.0%	16.6%	42.3%	41.1%
Margins Quarterly
EBITDA Margin	12.1%	14.1%	12.5%	12.5%	11.5%	14.7%	11.7%	11.9%	12.2%	12.4%	12.4%	11.8%
Operating Income Margin	10.8%	11.0%	11.1%	11.3%	10.3%	12.0%	10.6%	10.6%	11.0%	11.0%	11.2%	10.6%
Net Income Margin	8.4%	8.8%	8.6%	8.7%	8.4%	8.9%	8.5%	8.5%	8.6%	8.0%	8.6%	7.6%
Cash & Debt
Total Cash	419	388	353	303	539	461	457	413	360	344	182	166
Total Debt	572	572	572	572	597	597	597	597	622	622	622	649
Net Debt / (Cash)	154	184	219	269	59	137	140	184	262	278	440	484
Cash Flows Quarterly
FCF from Operations	119	147	122	95	128	119	84	102	66	180	75	63
Cash Flows TTM
FCF from Operations TTM	484	492	465	426	433	371	432	423	384	344	218	195
Returns to Shareholders Quarterly
Dividends	17	18	18	14	14	14	14	14	14	14	14	13
Share Repurchases	53	73	50	20	10	45	18	11	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	263.5%	234.6%	184.9%	136.9%	610.9%	299.4%	273.6%	196.4%	145.6%	137.3%	91.7%	70.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	262.0%	212.7%	175.7%	141.4%	644.2%	280.9%	268.6%	207.4%	144.2%	131.2%	80.7%	67.7%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Service Center Based Distribution	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

Operating Income by Segment

$ Mil	2025	2024	2023	2022	2021
Service Center Based Distribution	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

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Service Center Based Distribution	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

Price Behavior

Market Price	$264.33
Market Cap ($ Bil)	10.0
First Trading Date	09/07/1984
Distance from 52W High	-3.8%
	50 Days	200 Days
DMA Price	$255.61	$246.38
DMA Trend	indeterminate	indeterminate
Distance from DMA	3.4%	7.3%
	3M	1YR
Volatility	21.6%	33.0%
Downside Capture	63.52	124.93
Upside Capture	59.35	115.79
Correlation (SPY)	40.6%	72.1%

AIT Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.63	0.62	0.74	1.06	1.21	1.22
Up Beta	1.02	0.94	1.18	1.41	1.29	1.28
Down Beta	0.22	0.82	0.46	0.92	1.09	1.04
Up Capture	66%	36%	55%	99%	115%	216%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	12	23	31	67	118	391
Down Capture	57%	55%	91%	103%	117%	105%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	7	18	31	58	130	359

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of AIT With Other Asset Classes (Last 1Y)
	AIT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	9.4%	20.9%	19.2%	71.9%	8.9%	6.0%	-10.1%
Annualized Volatility	32.8%	18.8%	19.5%	19.3%	15.3%	17.1%	35.0%
Sharpe Ratio	0.31	0.87	0.78	2.69	0.36	0.18	-0.12
Correlation With Other Assets		78.1%	71.7%	-7.5%	20.0%	55.1%	31.1%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of AIT With Other Asset Classes (Last 5Y)
	AIT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	28.5%	14.0%	14.9%	18.7%	11.7%	4.8%	32.7%
Annualized Volatility	31.0%	17.2%	17.1%	15.5%	18.7%	18.9%	48.7%
Sharpe Ratio	0.85	0.66	0.70	0.97	0.51	0.17	0.60
Correlation With Other Assets		71.1%	58.4%	2.4%	21.4%	46.3%	22.2%

Based On 10-Year Data

		Comparison of AIT With Other Asset Classes (Last 10Y)
	AIT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	22.9%	13.4%	14.7%	14.9%	6.9%	5.2%	69.3%
Annualized Volatility	33.0%	19.9%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.71	0.60	0.70	0.83	0.31	0.22	0.90
Correlation With Other Assets		72.0%	61.9%	0.6%	27.9%	51.2%	15.7%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	931,523
Short Interest: % Change Since 11302025	5.0%
Average Daily Volume	278,296
Days-to-Cover Short Interest	3.35
Basic Shares Quantity	37,757,000
Short % of Basic Shares	2.5%

Returns Analyses

	Title
0	Can Applied Industrial Technologies Stock Hold Up When Markets Turn?
1	Applied Industrial Technologies Stock Return Comparison
2	Applied Industrial Technologies Total Shareholder Return (TSR): 52.0% in 2023 and 34.1% 3-yr returns (above peer average)
3	Applied Industrial Technologies (AIT) Stock Return: AI Predicts AIT Average and Excess Return After a Fall or Rise

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
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%
4/25/2024	-3.8%	-2.9%	5.3%
1/25/2024	0.5%	0.5%	7.7%
...
SUMMARY STATS
# Positive	14	13	16
# Negative	9	10	7
Median Positive	3.1%	4.7%	5.4%
Median Negative	-3.8%	-3.8%	-4.4%
Max Positive	12.1%	19.0%	20.5%
Max Negative	-7.5%	-11.3%	-16.5%

	Forward Returns
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%
4/25/2024	-3.8%	-2.9%	5.3%
1/25/2024	0.5%	0.5%	7.7%
10/26/2023	1.8%	2.0%	7.4%
8/10/2023	6.7%	4.7%	11.1%
4/27/2023	3.3%	1.2%	-4.4%
1/26/2023	11.4%	19.0%	13.6%
10/27/2022	3.8%	7.1%	13.3%
8/11/2022	12.1%	7.4%	3.0%
4/28/2022	9.1%	15.5%	5.4%
1/27/2022	2.9%	2.8%	4.4%
10/27/2021	-4.9%	-4.8%	3.9%
8/17/2021	0.4%	-0.8%	-2.2%
4/29/2021	1.6%	6.9%	1.8%
1/28/2021	-5.1%	-1.2%	11.3%
8/12/2020	-1.8%	-8.1%	-16.5%
4/30/2020	-7.5%	-9.7%	3.1%
1/23/2020	-0.7%	-0.5%	1.8%
SUMMARY STATS
# Positive	14	13	16
# Negative	9	10	7
Median Positive	3.1%	4.7%	5.4%
Median Negative	-3.8%	-3.8%	-4.4%
Max Positive	12.1%	19.0%	20.5%
Max Negative	-7.5%	-11.3%	-16.5%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10282025	10-Q 9/30/2025
6302025	8152025	10-K 6/30/2025
3312025	5012025	10-Q 3/31/2025
12312024	1292025	10-Q 12/31/2024
9302024	10252024	10-Q 9/30/2024
6302024	8162024	10-K 6/30/2024
3312024	4262024	10-Q 3/31/2024
12312023	1262024	10-Q 12/31/2023
9302023	10272023	10-Q 9/30/2023
6302023	8112023	10-K 6/30/2023
3312023	4282023	10-Q 3/31/2023
12312022	1272023	10-Q 12/31/2022
9302022	10282022	10-Q 9/30/2022
6302022	8122022	10-K 6/30/2022
3312022	4282022	10-Q 3/31/2022
12312021	1282022	10-Q 12/31/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Loring Kurt W.	VP-Chief HR Officer	8252025	Sell	267.06	8,523	2,276,152	5,147,047	Form
1	Vasquez Jason W	VP-Sales & Marketing-USSC	8222025	Sell	259.22	2,019	523,365	5,168,328	Form
2	Schrimsher Neil A	President and CEO	8222025	Sell	262.46	26,671	7,000,071	39,299,448	Form
3	Vasquez Jason W	VP-Sales & Marketing-USSC	2262025	Sell	248.10	4,475	1,110,260	5,383,084	Form
4	Schrimsher Neil A	President and CEO	2202025	Sell	269.18	10,680	2,874,842	46,731,263	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Applied Industrial Technologies (AIT)

Market Price (12/25/2025): $263.94 | Market Cap: $10.0 BilSector: Industrials | Industry: Trading Companies & Distributors

Applied Industrial Technologies (AIT)

Market Price (12/25/2025): $263.94Market Cap: $10.0 BilSector: IndustrialsIndustry: Trading Companies & Distributors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

AIT Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

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About Applied Industrial Technologies (AIT)

Applied Industrial Technologies (Symbol: AIT) - Major Customers

Interactive Breakdown

Better Bets than Applied Industrial Technologies (AIT)

INDUSTRY: Trading Companies & Distributors

Higher Rev Chg 3Y Avg | Lower P/S (Values for AIT: 5.5% | 2.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AIT: 5.5% | 19.4x)

Higher Rev Chg LTM (Value for AIT: 4.0%)

Higher Rev Chg 3Y Avg (Value for AIT: 5.5%)

Higher Op Mgn LTM (Value for AIT: 11.0%)

Higher CFO/Rev LTM (Value for AIT: 10.4%)

Higher FCF/Rev LTM (Value for AIT: 9.8%)

Higher Total Yield (Value for AIT: 4.4%)

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for AIT: 5.5% | 2.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AIT: 5.5% | 19.4x)

Higher Rev Chg LTM (Value for AIT: 4.0%)

Higher Rev Chg 3Y Avg (Value for AIT: 5.5%)

Higher Op Mgn LTM (Value for AIT: 11.0%)

Higher CFO/Rev LTM (Value for AIT: 10.4%)

Higher FCF/Rev LTM (Value for AIT: 9.8%)

Higher Total Yield (Value for AIT: 4.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for AIT: 5.5% | 2.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AIT: 5.5% | 19.4x)

Higher Rev Chg LTM (Value for AIT: 4.0%)

Higher Rev Chg 3Y Avg (Value for AIT: 5.5%)

Higher Op Mgn LTM (Value for AIT: 11.0%)

Higher CFO/Rev LTM (Value for AIT: 10.4%)

Higher FCF/Rev LTM (Value for AIT: 9.8%)

Higher Total Yield (Value for AIT: 4.4%)

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Market Price (12/25/2025): $263.94 | Market Cap: $10.0 Bil
Sector: Industrials | Industry: Trading Companies & Distributors

Market Price (12/25/2025): $263.94
Market Cap: $10.0 Bil
Sector: Industrials
Industry: Trading Companies & Distributors