Applied Industrial Technologies
AIT · NYSEWholesale-Machinery, Equipment & Supplies · Fiscal year ends Jun 30
Applied Industrial Technologies reported revenue of $5B in the fiscal year ended Jun 2026, up 8.8% from the year before. Operating income was $549M, an operating margin of 11.1%, and net income was $415M. Operating cash flow of $484M less capital expenditure of $24M left free cash flow of $461M. Net debt was $135M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | $3.8B | $4.4B | $4.5B | $4.6B | $5B |
| Cost of revenue | $2.7B | $3.1B | $3.1B | $3.2B | $3.5B |
| Gross profit | $1.1B | $1.3B | $1.3B | $1.4B | $1.5B |
| Selling, general & admin | $749M | $814M | $841M | $885M | $957M |
| Operating income | $358M | $473M | $496M | $499M | $549M |
| Net interest incomeBanks | −$26M | −$22M | −$3M | −$612,000 | −$8M |
| Interest expense | $27M | $25M | $21M | $18M | $17M |
| Pre-tax income | $330M | $450M | $498M | $501M | $544M |
| Income tax | $72M | $103M | $112M | $108M | $130M |
| Net income | $257M | $347M | $386M | $393M | $415M |
| Diluted EPS | 6.58 | 8.84 | 9.83 | 10.12 | 10.95 |
| Diluted shares | 39M | 39M | 39M | 39M | 38M |
Balance sheet
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $184M | $344M | $461M | $388M | $127M |
| Receivables | $656M | $708M | $725M | $770M | $831M |
| Inventory | $450M | $501M | $488M | $505M | $509M |
| Current assets | $1.4B | $1.6B | $1.8B | $1.7B | $1.6B |
| Net PP&E | $112M | $115M | $119M | $128M | $132M |
| Goodwill | $563M | $578M | $619M | $699M | $705M |
| Total assets | $2.5B | $2.7B | $3B | $3.2B | $3B |
| Payables | $259M | $302M | $267M | $280M | $341M |
| Deferred revenue | – | – | $16M | $29M | $31M |
| Current liabilities | $500M | $540M | $501M | $526M | $612M |
| Short-term debt | $40M | $25M | $25M | $0 | – |
| Long-term debt | $649M | $597M | $572M | $572M | $262M |
| Total liabilities | $1.3B | $1.3B | $1.3B | $1.3B | $1.1B |
| Shareholders' equity | $1.1B | $1.5B | $1.7B | $1.8B | $1.9B |
Cash flow
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $188M | $344M | $371M | $492M | $484M |
| Capital expenditure | $18M | $26M | $25M | $27M | $24M |
| Free cash flow | $169M | $317M | $347M | $465M | $461M |
| Depreciation & amortisation | $22M | $22M | $23M | $25M | $26M |
| Stock-based compensation | $12M | $12M | $13M | $12M | $13M |
| Acquisitions | $7M | $36M | $72M | $293M | $11M |
| Share buybacks | $14M | $716,000 | $73M | $153M | $317M |
| Dividends paid | $52M | $53M | $56M | $64M | $73M |
| Dividend per share | 1.34 | 1.38 | 1.44 | 1.66 | 1.99 |
Key ratios
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 15.8% | 1.5% | 1.9% | 8.8% |
| Operating income growth (YoY) | – | 32.2% | 4.8% | 0.5% | 10.2% |
| EPS growth (YoY) | – | 34.3% | 11.2% | 3.0% | 8.2% |
| Gross margin | 29.0% | 29.2% | 29.8% | 30.3% | 30.3% |
| Operating margin | 9.4% | 10.7% | 11.1% | 10.9% | 11.1% |
| Net margin | 6.8% | 7.9% | 8.6% | 8.6% | 8.3% |
| Return on equityBlank when equity is negative | 22.4% | 23.8% | 22.8% | 21.3% | 22.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 18.3% | 21.5% | 20.2% | 18.8% | 22.9% |
| Free cash flow margin | 4.4% | 7.2% | 7.7% | 10.2% | 9.3% |
| Cash conversion (CFO ÷ net income) | 0.73x | 0.99x | 0.96x | 1.25x | 1.17x |
| Receivable days | 63 | 59 | 59 | 62 | 61 |
| Inventory days | 61 | 59 | 57 | 58 | 54 |
| Payable days | 35 | 35 | 31 | 32 | 36 |
| Interest cover | 13.4x | 19.1x | 24.1x | 27.4x | 31.6x |
| Debt ÷ equity | 0.60x | 0.43x | 0.35x | 0.31x | 0.14x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $505M | $278M | $137M | $184M | $135M |
| Current ratio | 2.72x | 3.05x | 3.53x | 3.32x | 2.58x |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.