# Applied Industrial Technologies, Inc. (AIT)

> Source: Nexqual · https://nexqual.com/AIT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Applied Industrial Technologies, Inc. (AIT), nexqual.com/AIT" · informational, not investment advice.

**Price:** USD 319.4 (-5.75% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 338.89 · day 313.15–340.99 · 52w 238.72–374.8 · market cap $11.7B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.97B, net income $415M (8.3% margin), free cash flow $461M (SEC filings).
- Valuation: P/E 28.3x (avg 24.5x at the last 3 fiscal year-ends), EV/EBITDA 20.6x, net debt $135M.
- 1 of 80 tracked superinvestors hold AIT (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $5.0M; 4 not under a Rule 10b5-1 plan ($5.0M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.25 on a 1–5 scale) (8 analysts), mean target USD 398.33 (range 390–420).
- Total return with dividends: 1Y +23.7% vs S&P 500 +14.9%; 5Y +233.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 2.89, revenue estimate $1.29B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.81B | $4.41B | $4.48B | $4.56B | $4.97B | $4.97B |
| Gross profit | $1.11B | $1.29B | $1.34B | $1.38B | $1.51B | — |
| Operating income | $358M | $473M | $496M | $499M | $549M | $549M |
| Net income | $257M | $347M | $386M | $393M | $415M | $415M |
| EPS (diluted) | $6.58 | $8.84 | $9.83 | $10.12 | $10.95 | — |
| Free cash flow | $169M | $317M | $347M | $465M | $461M | $461M |
| Gross margin | 29.0% | 29.2% | 29.8% | 30.3% | 30.3% | — |
| Operating margin | 9.4% | 10.7% | 11.1% | 10.9% | 11.1% | 11.1% |
| Net margin | 6.8% | 7.9% | 8.6% | 8.6% | 8.3% | 8.3% |
| Revenue growth | +17.8% | +15.8% | +1.5% | +1.9% | +8.8% | — |
| Cash + short-term investments | $184M | $344M | $461M | $388M | $127M | — |
| Total debt | $689M | $622M | $597M | $572M | $262M | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 28.3x · P/S 2.4x · EV/EBITDA 20.6x · EV/Sales 2.4x · P/FCF 25.5x · P/B 6.3x · FCF yield 3.93% · Earnings yield 3.53% · Dividend yield (paid, TTM) 0.62% · Buyback yield (TTM) 2.70% · Net debt $135M · EV $11.9B
P/E at fiscal year-ends: Jun 2026 30.9x, Jun 2025 23.0x, Jun 2024 19.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold AIT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Henry Ellenbogen | Durable Capital Partners | 0.53% | $54.8M | Reduced -45.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-26 | Wallace Peter C | Director | 1,904 | $648K | 6.9% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-08-18 | Wells David K. | Vice President-CFO & Treasurer | 1,812 | $643K | 5.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-18 | Andrews Madhuri A | Director | 3,845 | $1.3M | 43.7% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-05 | Hoffner Warren E Iii | VP, General Mgr-Fluid Power | 8,000 | $2.4M | 16.3% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.25 on a 1–5 scale), 8 analysts; mean target USD 398.33 (low 390, high 420).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Mizuho | Target lowered | Outperform | $400 → $390 |
| 2026-08-14 | B of A Securities | Target raised | Buy | $380 → $390 |
| 2026-08-14 | Oppenheimer | Target raised | Outperform | $350 → $390 |
| 2026-08-14 | DA Davidson | Target raised | Buy | $380 → $400 |
| 2026-08-14 | Keybanc | Target raised | Overweight | $375 → $420 |
| 2026-08-14 | Baird | Target raised | Outperform | $317 → $400 |
| 2026-08-14 | Mizuho | Target raised | Outperform | $355 → $400 |
| 2026-07-21 | Mizuho | Target raised | Outperform | $330 → $355 |
| 2026-07-13 | Keybanc | Target raised | Overweight | $350 → $375 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +23.7% | +233.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +23.8% | +27.2% |
| Volatility (annualized) | 26.0% | 26.9% |
| Max drawdown | -12.9% (Aug 2026→Sep 2026) | -23.8% (Nov 2024→Mar 2025) |

## Peers (Industrial Distribution)
QXO (QXO, Inc.) USD 11.02 +6.89% · WSO (Watsco, Inc.) USD 327.04 +7.22% · WCC (WESCO International, Inc.) USD 323.68 -7.23% · CNM (Core & Main, Inc.) USD 42.33 +2.17% · POOL (Pool Corporation) USD 197.21 +14.36% · XMTR (Xometry, Inc.) USD 89.16 +0.25%

## More
Full page: https://nexqual.com/AIT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Service Center | $849.5M | 62.8% | +9.0% | $118.4M | 13.9% |
| Engineered Solutions | $503.2M | 37.2% | +12.9% | $65.1M | 12.9% |
| Total revenue | $1.35B | 100% | — | $159.3M | 11.8% |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $1.20B | 88.5% | +10.7% |
| Canada | $80.2M | 5.9% | +5.7% |
| Other Countries | $74.8M | 5.5% | +11.7% |
| Total revenue | $1.35B | 100% | — |

## Company outlook (8-K filed 2026-08-13)

- "Guidance for Fiscal 2027 • Fourth Quarter Net Sales of $1.4 Billion Up 10.4% YoY;"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.89 | $2.84 | +1.7% | $1.29B | 8 |
| Next quarter (ends 2026-12-31) | $2.79 | $2.76 | +1.2% | $1.25B | 8 |
| Current fiscal year (ends 2027-06-30) | $12.04 | $11.78 | +2.1% | $5.26B | 8 |
| Next fiscal year (ends 2028-06-30) | $13.20 | $12.80 | +3.2% | $5.57B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-27): ±7.6%; last 8 reports averaged ±4.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 33.8% | ±7.6% |
| 2026-12-18 | 56 | 30.3% | ±9.5% |
| 2027-02-19 | 119 | 28.8% | ±13.2% |
| 2027-05-21 | 210 | 29.1% | ±17.6% |