AIT vs FERG: Applied Industrial Technologies and Ferguson Plc compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Ferguson Plc is the larger company, worth $40.9B, about 3.3 times Applied Industrial Technologies.
- Applied Industrial Technologies grew revenue faster over the last year (+10.4% vs +3.8%).
- Applied Industrial Technologies keeps more of each dollar of revenue as operating profit (11.1% vs 8.5%).
- On earnings, Ferguson Plc is the cheaper stock (23.6x vs 31.4x).
- Applied Industrial Technologies's price assumes faster free cash flow growth: about 9% a year, against 8% for Ferguson Plc (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AIT | FERG |
|---|---|---|
| Market cap | $12.2B | $40.9B |
| Share price | $335.38 | $220.04 |
| Revenue (last fiscal year) | $5.0B | $30.8B |
| Free cash flow (last fiscal year) | $461M | $1.6B |
| Revenue growth, last year | +10.4% | +3.8% |
| Revenue growth per year, last 5 fiscal years | +6.8% | +2.5% |
| Operating margin | 11.1% | 8.5% |
| Net margin | 8.3% | 6.0% |
| Return on equity | 22.3% | 29.9% |
| P/E (trailing) | 31.4x | 23.6x |
| Price / free cash flow | 26.3x | 25.5x |
| EV / EBITDA | 20.5x | 17.7x |
| FCF growth the price implies | 8.7% | 8.2% |
| Dividend yield | 0.56% | 1.9% |
| Debt / equity | 0.62x | 2.11x |
| Fundamental grade | C | C |
| Superinvestors holding it | 2 | 11 |
| Insider purchases, last 12 months | 0 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Applied Industrial Technologies
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $3.8B | $169M | 9.4% |
| 2023 | $4.4B | $317M | 10.7% |
| 2024 | $4.5B | $347M | 11.1% |
| 2025 | $4.6B | $465M | 10.9% |
| 2026 | $5.0B | $461M | 11.1% |
Ferguson Plc
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $28.6B | $859M | 9.9% |
| 2023 | $29.7B | $2.3B | 8.9% |
| 2024 | $29.6B | $1.5B | 8.9% |
| 2025 | $30.8B | $1.6B | 8.5% |
Where the revenue comes from
Applied Industrial Technologies · by segments, 2026
Service Center$3.2B64%
Engineered Solutions$1.8B36%
Ferguson Plc · by segments, 2025
United States Segment$29.3B95%
Canada Segment$1.5B5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AIT in InvestinglyQuestions
Which is bigger, Applied Industrial Technologies or Ferguson Plc?
Ferguson Plc (FERG), at $40.9B against $12.2B.
Is AIT or FERG cheaper?
By trailing P/E, Ferguson Plc (23.6x) is cheaper than Applied Industrial Technologies (31.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, AIT or FERG?
Applied Industrial Technologies: revenue grew +10.4% over the last year, against +3.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.