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Distributes industrial bearings, power transmission products and fluid-power components, plus related engineering services.
Distributes industrial bearings, power transmission products and fluid-power components, plus related engineering services.
Earns a distributor's margin by buying bearings, drives and fluid-power parts from manufacturers and reselling them from local branches to plants that need replacements for urgent repairs and routine maintenance. A smaller segment designs fluid-power and automation systems for customers. It has grown largely by buying other distributors.
Moat: narrow (distribution, scale). A broad product line and technical/engineering support build sticky relationships with industrial maintenance buyers.
Headquarters: Cleveland, Ohio, USA · Founded: 1923 · Employees: 6,900
Size Applied Industrial Technologies (AIT) is a United States Industrials company (Wholesale Distributors) with a market value of $10.3B, the 757th largest of 3,117 United States companies the cockpit tracks. Shares closed at $283.39 on 6 Nov 2026.
Performance Over six months the shares fell 8.2%, against +2.5% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median +4.3%); the operating margin is 11.5% (peer median 9.5%).
Valuation It trades at 23.0× forward earnings against a peer median of 18.2× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 13.2 points above its cost of capital (9.1% WACC).
Short interest Short interest is 1.9% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $5.06B | $4.97B | $4.56B | $4.48B | $4.41B |
| Revenue growth | — | +9% | +2% | +2% | — |
| Gross profit | $1.47B | $1.44B | $1.32B | $1.28B | $1.23B |
| EBITDA | $645M | $647M | $608M | $563M | $533M |
| Net income | $424M | $415M | $393M | $386M | $347M |
| Free cash flow | $422M | $461M | $465M | $347M | $317M |
| Capital expenditure | $29.3M | $23.6M | $27.2M | $24.9M | $26.5M |
| Total debt | $282M | $483M | $771M | $735M | $726M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Applied Industrial Technologies AIT | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% |
| W. W. Grainger GWW | $67.9B | +17% | +9% | 17% | 28.2× | 11.9% |
| Genuine Parts GPC | $16.9B | +19% | +5% | 5% | 15.5× | 7.5% |
| DXP Enterprises DXPE | $2.18B | -10% | +11% | 9% | 20.7× | 6.6% |
| MSC Industrial Direct MSM | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% |
| Fastenal FAST | $60.8B | +20% | +14% | 21% | 38.3× | 14.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AIT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.7% | +3.6% | 4th lowest of 21 |
| 6-month return | -8.2% | +2.5% | 7th lowest of 21 |
| Distance from 52-week high | -24.4% | -14.7% | 5th lowest of 21 |
| Revenue growth (TTM) | +8.4% | +4.3% | 7th highest of 21 |
| Operating margin | 11.5% | 9.5% | 8th highest of 21 |
| Forward P/E | 23.0× | 18.2× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.6% | 10.1% | 7th least demanding of 20 |
| Growth delivered (Del g) | +8.9% | +11.3% | 9th lowest of 20 |
| Hurdle (Req g minus delivered) | -0.4 pp | -1.2 pp | 7th most demanding of 20 |
| ROIC minus cost of capital | +13.2 pp | +1.3 pp | 3rd highest of 21 |
| EV / EBITDA | 16.3× | 12.6× | 6th most expensive of 19 |
| Net debt / EBITDA | 0.3× | 2.4× | 3rd least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Applied Industrial Technologies AIT | United States | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% | +8.9% |
| Zhejiang China Commodities City 600415.SS | China | $10.0B | -7% | +22% | 22% | 14.4× | n/a | n/a |
| Brenntag BNR.DE | Germany | $10.0B | 0% | -5% | 5% | 14.5× | 1.9% | +5.2% |
| Toromont Industries TIH.TO | Canada | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% | +8.4% |
| Bollore BOL.PA | France | $11.8B | -28% | -83% | -7% | 36.9× | 37.0% | -29.4% |
| SGH SGH.AX | Australia | $11.9B | +7% | -1% | 13% | 18.1× | 11.4% | +17.0% |
| Rexel RXL.PA | France | $11.9B | -10% | +1% | 6% | 13.5× | 7.7% | +9.0% |
| QXO QXO | United States | $12.0B | -38% | +408% | -1% | 29.2× | 52.0% | +178.0% |
| Bunzl BNZL.L | United Kingdom | $12.0B | +22% | +2% | 7% | 15.3× | 2.3% | +3.2% |
| Hotai Motor 2207.TW | Taiwan | $8.90B | +10% | +8% | 11% | 13.2× | 1.5% | +3.9% |
| Core & Main CNM | United States | $8.76B | -6% | -1% | 10% | 14.3× | 5.3% | +16.0% |
| Addtech ADDT-B.ST | Sweden | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% | +14.9% |
| Diploma DPLM.L | United Kingdom | $12.6B | +4% | +13% | 22% | 27.5× | 23.9% | +23.1% |
| Finning International FTT.TO | Canada | $8.20B | -9% | 0% | 8% | 17.5× | 10.1% | +11.3% |
| Beijer Ref BEIJ-B.ST | Sweden | $8.09B | +27% | +4% | 10% | 28.0× | 14.0% | +21.4% |
| Reece REH.AX | Australia | $7.83B | +44% | +4% | 6% | 35.5× | 24.2% | +8.4% |
| WESCO International WCC | United States | $14.2B | -18% | +14% | 6% | 14.1× | 10.4% | +13.8% |
| MonotaRO 3064.T | Japan | $7.04B | +22% | +19% | 14% | 29.6× | 9.7% | +16.2% |
| Imcd IMCD.AS | Netherlands | $6.80B | +7% | +3% | 8% | 18.2× | 10.9% | +11.5% |
| Royal Vopak VPK.AS | Netherlands | $6.51B | +14% | +1% | 29% | 15.5× | 8.8% | +1.8% |
| MSC Industrial Direct MSM | United States | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% | +4.3% |