Applied Industrial Technologies (AIT) financial statements
Applied Industrial Technologies reported revenue of $5.0B in fiscal 2026, up 7.5% a year over 9 years.
Net income was $415M and the operating margin 11.1%, against 6.8% in 2017.
Free cash flow was $461M, and the company returned $73M in dividends and $317M in net buybacks.
The diluted share count fell 4% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Applied Industrial Technologies's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.6B | $3.1B | $3.5B | $3.2B | $3.2B | $3.8B | $4.4B | $4.5B | $4.6B | $5.0B |
| Cost of revenue | $1.9B | $2.2B | $2.5B | $2.3B | $2.3B | $2.7B | $3.1B | $3.1B | $3.2B | $3.5B |
| Gross profit | $738M | $884M | $1.0B | $938M | $936M | $1.1B | $1.3B | $1.3B | $1.4B | $1.5B |
| Selling, general and admin | $562M | $658M | $742M | $718M | $681M | $749M | $814M | $841M | $885M | $957M |
| Operating income | $175M | $226M | $234M | $89M | $205M | $358M | $473M | $496M | $499M | $549M |
| Interest expense | $9M | $24M | $41M | $37M | $31M | $27M | $25M | $21M | $18M | $17M |
| Pre-tax income | $167M | $205M | $194M | $55M | $177M | $330M | $450M | $498M | $501M | $544M |
| Income tax | $33M | $63M | $50M | $31M | $32M | $72M | $103M | $112M | $108M | $130M |
| Net income | $134M | $142M | $144M | $24M | $145M | $257M | $347M | $386M | $393M | $415M |
| EPS (diluted) | $3.40 | $3.61 | $3.68 | $0.62 | $3.68 | $6.58 | $8.84 | $9.83 | $10.12 | $10.95 |
| Diluted shares | 39M | 39M | 39M | 39M | 39M | 39M | 39M | 39M | 39M | 38M |
| Gross margin | 28.4% | 28.8% | 29.0% | 28.9% | 28.9% | 29.0% | 29.2% | 29.8% | 30.3% | 30.3% |
| Operating margin | 6.8% | 7.3% | 6.7% | 2.7% | 6.3% | 9.4% | 10.7% | 11.1% | 10.9% | 11.1% |
| Net margin | 5.2% | 4.6% | 4.1% | 0.7% | 4.5% | 6.8% | 7.9% | 8.6% | 8.6% | 8.3% |
Balance sheet
Fiscal years, from Applied Industrial Technologies's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $105M | $54M | $108M | $269M | $258M | $184M | $344M | $461M | $388M | $127M |
| Receivables | $391M | $549M | $541M | $450M | $516M | $656M | $708M | $725M | $770M | $831M |
| Inventory | $345M | $422M | $448M | $389M | $363M | $450M | $501M | $488M | $505M | $509M |
| Total current assets | $883M | $1.1B | $1.1B | $1.2B | $1.2B | $1.4B | $1.6B | $1.8B | $1.7B | $1.6B |
| Property, plant and equipment | $108M | $121M | $124M | $122M | $116M | $112M | $115M | $119M | $128M | $132M |
| Goodwill | $206M | $647M | $662M | $541M | $560M | $563M | $578M | $619M | $699M | $705M |
| Total assets | $1.4B | $2.3B | $2.3B | $2.3B | $2.3B | $2.5B | $2.7B | $3.0B | $3.2B | $3.0B |
| Total current liabilities | $310M | $433M | $424M | $426M | $428M | $500M | $540M | $501M | $526M | $612M |
| Long-term debt | $287M | $945M | $909M | $855M | $785M | $649M | $597M | $572M | $572M | $262M |
| Total liabilities | $642M | $1.5B | $1.4B | $1.4B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.1B |
| Shareholders' equity | $745M | $815M | $897M | $844M | $933M | $1.1B | $1.5B | $1.7B | $1.8B | $1.9B |
| Net debt | $187M | $910M | $850M | $665M | $571M | $505M | $278M | $137M | $184M | $135M |
Cash flow
Fiscal years, from Applied Industrial Technologies's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $165M | $147M | $181M | $297M | $242M | $188M | $344M | $371M | $492M | $484M |
| Capital spending | $17M | $23M | $19M | $20M | $16M | $18M | $26M | $25M | $27M | $24M |
| Free cash flow | $148M | $124M | $162M | $277M | $226M | $169M | $317M | $347M | $465M | $461M |
| Stock-based compensation | $4M | $5M | $4M | $4M | $9M | $12M | $12M | $13M | $12M | $13M |
| Dividends paid | $45M | $46M | $47M | $49M | $51M | $52M | $53M | $56M | $64M | $73M |
| Share buybacks (net) | -$8M | -$23M | -$11M | $0 | -$40M | -$14M | -$716,000 | -$73M | -$153M | -$317M |
| Free cash flow margin | 5.7% | 4.0% | 4.7% | 8.5% | 7.0% | 4.4% | 7.2% | 7.7% | 10.2% | 9.3% |
| Dividends per share | $1.13 | $1.17 | $1.21 | $1.25 | $1.29 | $1.32 | $1.36 | $1.42 | $1.64 | $1.92 |
Questions
What was Applied Industrial Technologies's revenue in 2026?
$5.0B in fiscal 2026, from its 10-K filing.
How much free cash flow does Applied Industrial Technologies generate?
$461M in fiscal 2026 (operating cash flow minus capital spending).
From Applied Industrial Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.