Sector Alpha Week of 2026-08-05
Sector Alpha — machine-written from the numbers · Data as of 2026-08-05

Applied Industrial Technologies, Inc.

AIT
Industrials · Industrial Distribution

Applied Industrial Technologies, Inc.'s price has outrun its earnings. +35.1% in a year against EPS +3.0% — the market is paying now for delivery later.

The sharpest disagreement: the price moved +35.1% in a year while annual EPS moved +3.0% — the difference is re-rating, and re-rating has to be repaid with earnings.

The price is in a confirmed uptrend (19 weeks in) while the P/E sits at the 100th percentile of its own 4-year range. Underneath, the last four quarters read improving — profit +0.0% year on year, and 106% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.

Stage
Consistent
fundamental trajectory, 12 quarters
Price
$357
+35.1% 1Y
P/E
33.7×
100th pctile
of its own 4-year range
Revenue (Mar 26)
$1.3 B
+6.8% YoY
Profit (Mar 26)
$0.1 B
+0.0% YoY
Operating margin
11.2%
+0.1 pp YoY
ROE
22%
FY25
ROIC
19.9%
vs WACC 8.8% → +11.1 pp
Cash conversion
106%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Applied Industrial Technologies, Inc. trades at $357, in a confirmed uptrend and 19 weeks into that stage. That is +24.6% against its own 200-day average. It sits at 100% of a 52-week range of $246 to $357. On relative strength it has been ahead of the S&P 500 on a trailing-13-week view for 10 straight weeks.

Today the stock is in a confirmed uptrend — week 19 of stage 2. At $357 it trades +24.6% versus its 200-day average and sits at 100% of its 52-week range ($246–$357).

Aug 26: $357 Weekly closing price ($) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+24.6% versus the 200-day line, week 19 of stage 2
Price50-day avg200-day avg
S2S2S2$375$310$245$180$115$$357$286Jul 23Apr 24Jan 25Oct 25Aug 26
S2S2S2$375$310$245$180$115$$357$286Jul 23Jan 25Aug 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (527 weeks): the stock's trailing 13-week return minus the S&P 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the S&P 500 reading is not held.
trailing 13-week return vs the S&P 500
Jul 16Aug 26

Against the market, two honest reads. Cumulative: over the last 10.1 years the stock moved +681% while the S&P 500 moved +263% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 10 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of $1 of annual profit: how many dollars the market pays for each dollar the company earns in a year.

Applied Industrial Technologies, Inc. trades at 33.7× P/E, about the priciest it has ever traded. Its long-run median P/E is 20.2×, measured across 4.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 33.7× is about the priciest it has ever traded, against a long-run median of 20.2× measured over 4.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 33.7× vs a 20.2× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly step line (right axis). 4.3-year window; loss-period spikes above 32× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
about the priciest it has ever traded
P/EMedianEPS (TTM) (quarterly)
33.2×$11.428.0×$8.622.8×$5.717.5×$2.912.3×$0.0×$31.80×$11Apr 22Apr 23May 24Jul 25Aug 26
33.2×$11.428.0×$8.622.8×$5.717.5×$2.912.3×$0.0×$31.80×$11Apr 22May 24Aug 26
PEG 2.44 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Last 19 quarters.
above 1.0, the multiple already banks the growth
PEGPEG = 1.0
3.4×2.7×2.1×1.4×0.7××2.44×Sep 21Sep 22Dec 23Dec 24Mar 26
3.4×2.7×2.1×1.4×0.7××2.44×Sep 21Dec 23Mar 26
P/E
33.7×
100th percentile of 4y
PEG
3.15
as reported

🚨 Why the multiple sits where it does: over the past year annual EPS moved +3.0% against a +35.1% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 3y, of the +36.2%/yr price move, ~+6.2%/yr came from earnings growth and ~+30.0 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · Stage: Consistent

Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Applied Industrial Technologies, Inc. reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 20.8% and holding. The read is built from 12 quarters across 4 curves, on full evidence.

Growth, year by year: revenue +1.8% in FY25, profit +0.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
19%93%14%68%9.6%43%5.0%18%0.3%−6.9%%%1.8%0%FY21FY23FY25
19%93%14%68%9.6%43%5.0%18%0.3%−6.9%%%1.8%0%FY21FY23FY25
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating, profit stabilising
RevenueProfitEPS
17%37%12%28%7.9%19%3.5%9.3%−1.0%0.0%%%7.3%7.9%6.3%Jun 23Sep 24Mar 26
17%37%12%28%7.9%19%3.5%9.3%−1.0%0.0%%%7.3%7.9%6.3%Jun 23Sep 24Mar 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
23%22%21%20%19%%20.8%Jun 23Dec 23Sep 24Jun 25Mar 26
23%22%21%20%19%%20.8%Jun 23Sep 24Mar 26
Revenue growth
Steady high
latest +7.3% · span +0.2% to +15.7%
Profit growth
Steady high
latest +7.9% · span +2.6% to +34.6%
EPS growth
Steady high
latest +6.3% · span +3.0% to +34.1%
ROCE
Steady high
latest 20.8% · span 19.6%–23.1%

Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; stock price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+1.8%+6.2%
Profit+0.0%+14.5%
EPS+3.0%+15.4%
Stock price+35.1%+36.2%+32.5%+22.3%
Revenue YoY (Mar 26)
+6.8%
latest quarter vs a year ago
Profit YoY (Mar 26)
+0.0%
latest quarter vs a year ago
Revenue 10y
8.9%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

53.8/100 — rank 6 of 20 in Industrial Distribution · 81% evidence confidence

Applied Industrial Technologies, Inc. scores 53.8 out of 100 against the 20 companies it is compared with in Industrial Distribution, ranking 6. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 17.7 + 13.8 + 5.3 + 17 = 53.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Applied Industrial Technologies, Inc. reported $1.3 B of revenue in the Mar 26 quarter, +6.8% year on year. That is the 5th straight quarter of year-on-year growth. Over 4 years it has compounded at 8.9% a year. The last full year, FY25, came in at $4.6 B. The last four reported quarters add to $4.8 B.

FY25 revenue came in at $4.6 B (+1.8% on the year), capping 4 years at 8.9% compound. The latest quarter (Mar 26) printed $1.3 B, +6.8% year on year — the 5th consecutive quarter of year-over-year growth.

FY25 revenue $4.6 B (+1.8% YoY) Revenue bars, $ B (left); YoY growth-% line (right). 5-year window. A bar is red when it is lower than the year before.
8.9% a year over 4 years
RevenueYoY growth
4.919%3.714%2.59.6%1.25.0%0.00.3%$ B%$5B1.8%FY21FY23FY25
4.919%3.714%2.59.6%1.25.0%0.00.3%$ B%$5B1.8%FY21FY23FY25
Mar 26: $1.3 B (+6.8% YoY) Quarterly revenue bars, $ B (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
5th straight quarter of growth
Revenue (quarterly)YoY growth
1.410%1.07.2%0.74.3%0.31.3%0.0−1.7%$ B%$1B6.8%Jun 23Sep 24Mar 26
1.410%1.07.2%0.74.3%0.31.3%0.0−1.7%$ B%$1B6.8%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +7.4% growth against the decade's 8.9% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +7.3% over the last 4 quarters against +3.7%/yr over the last 8 — accelerating; TTM profit +7.9% vs +5.3%/yr — stabilising.

06 · Operating margin

Operating margin Operating margin is what is left of every $100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Applied Industrial Technologies, Inc.'s operating margin is 11.2% in the Mar 26 quarter, +0.1 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 6.5% to 11.2%. The current quarter sits inside that band.

The latest quarter's operating margin is 11.2%, +0.1 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 6.5%–11.2%.

Why the margin moved: operating margin went +0.1 pp year on year while gross margin went −0.4 pp — the gain came mostly from the gross line: input costs and pricing.

FY25: 11.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 5-year window.
within a 6.5–11.2% band over 5 years
operating marginYoY change (pp)
12%3.1%10%2.2%8.8%1.4%7.5%0.5%6.1%−0.4%%%11%−0.2%FY21FY23FY25
12%3.1%10%2.2%8.8%1.4%7.5%0.5%6.1%−0.4%%%11%−0.2%FY21FY23FY25
Mar 26: 11.2% operating margin (+0.1 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
12.3%1.2%11.7%0.6%11.1%−0.1%10.4%−0.7%9.83%−1.3%%%11.2%0.1%Jun 23Sep 24Mar 26
12.3%1.2%11.7%0.6%11.1%−0.1%10.4%−0.7%9.83%−1.3%%%11.2%0.1%Jun 23Sep 24Mar 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Applied Industrial Technologies, Inc. earned $0.1 B of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY25 profit was $0.4 B. The 4-year compound rate is 29.2%. That is 8.0% of the quarter's revenue. The same quarter a year earlier earned $0.1 B.

Mar 26 profit was $0.1 B, +0.0% year on year. On the full year, FY25 printed $0.4 B (+0.0%), and the 4-year compound rate is 29.2%.

FY25 profit $0.4 B (+0.0% YoY) Net profit bars, $ B (left); YoY growth-% line (right). 5-year window. A bar is red when it is lower than the year before.
29.2% a year over 4 years
Net profitYoY growth
0.493%0.368%0.243%0.118%0.0−6.9%$ B%$0B0%FY21FY23FY25
0.493%0.368%0.243%0.118%0.0−6.9%$ B%$0B0%FY21FY23FY25
Mar 26: $0.1 B (+0.0% YoY) Quarterly net profit bars, $ B (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
0.1214%0.099.9%0.066.3%0.032.6%0.00−1.0%$ B%$0B0%Jun 23Sep 24Mar 26
0.1214%0.099.9%0.066.3%0.032.6%0.00−1.0%$ B%$0B0%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed +6.8% and the margin +0.1 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +8.1% vs revenue +7.4%. Profit and revenue are moving roughly in step.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 106% of Applied Industrial Technologies, Inc.'s reported profit arrived as operating cash — the cash follows the profit. In FY25 that was $0.5 B of operating cash against $0.4 B of profit. After $0.0 B of capital spending, $0.5 B was left as free cash.

FY25: operating cash of $0.5 B against reported profit of $0.4 B, leaving free cash of $0.5 B after $0.0 B of capital spending. Across the last 3 fiscal years the conversion rate is 106% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY25: CFO $0.5 B vs profit $0.4 B Operating cash flow and net profit by fiscal year, $ B; the line is free cash flow (CFO minus capital spending). 5-year window, annual resolution.
106% of 3-year profit arrived as cash
Operating cashNet profitFree cash
0.50.40.30.10.0$ B$1B$0B$1BFY21FY23FY25
0.50.40.30.10.0$ B$1B$0B$1BFY21FY23FY25
Mar 26: operating cash $0.1 B = 100% of the quarter's profit Operating cash per quarter, $ B (bars); conversion = operating cash as % of net profit (line, right). Last 12 quarters. Dashed line = 100%.
Operating cash (quarterly)Conversion100%
0.19210%0.15174%0.10139%0.05104%0.0068%$ B%$0B100%Jun 23Sep 24Mar 26
0.19210%0.15174%0.10139%0.05104%0.0068%$ B%$0B100%Jun 23Sep 24Mar 26

Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.

Router verdict: the visible cash user is investment — the next section checks what the spending is buying.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Applied Industrial Technologies, Inc. does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Capital spending ran $0.0 B over the last 3 years. Averaged over those years that is 0.0% of FY25 revenue a year.

Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.

On the investment side: capital spending of $0.0 B over the last 3 fiscal years.

FY25: capex $0.0 B Capital spending per fiscal year, $ B (bars).
steady investment
Capex
0.0320.0240.0160.0080.000$ B$0BFY21FY23FY25
0.0320.0240.0160.0080.000$ B$0BFY21FY23FY25
Mar 26: capex $0.0 B in the quarter Capital spending per quarter, $ B (bars, left); free cash flow, $ B (line, right). Last 12 quarters.
Capex (quarterly)Free cash
0.0110.180.0080.150.0050.120.0030.080.0000.05$ B$ B$0B$0BJun 23Sep 24Mar 26
0.0110.180.0080.150.0050.120.0030.080.0000.05$ B$ B$0B$0BJun 23Sep 24Mar 26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

10 · Return on equity

Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.

Applied Industrial Technologies, Inc. earns a ROE of 21% in FY25. That is up from a trough of 15% in FY21. Return on invested capital clears the cost of that capital by +11.1 percentage points, so growth here adds value rather than only size. The wiring behind it is 8.6% net margin on 1.43× asset turns.

FY25 ROE is 21%, recovered from a FY21 trough of 15% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY25): 8.6% net margin × 1.43× asset turns × 1.73× balance-sheet leverage ≈ 21.3% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 19.9% − 8.8% = a +11.1 pp spread. The 8.8% is an estimate of this company's own cost of capital — read the sign and the size of the spread, not the decimals. A spread this wide means every dollar reinvested creates more than a dollar of value — the engine compounds.

FY25: ROE 21% Return on equity by fiscal year, % (line); ROIC by fiscal year, % (line). 5-year window, dips included. Dashed line = the 8.8% cost of capital used on this page.
the climb back from FY21's 15%
ROEROIC (annual)WACC
25%21%16%12%7.6%%21.2%20.3%FY21FY23FY25
25%21%16%12%7.6%%21.2%20.3%FY21FY23FY25
Mar 26: ROIC 20.0% (TTM) vs WACC 8.8% Trailing-twelve-month ROIC and ROE, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROIC (TTM)ROE (TTM)WACC
30%25%19%13%7.2%%20%22.2%Jun 23Sep 24Mar 26
30%25%19%13%7.2%%20%22.2%Jun 23Sep 24Mar 26
11 · Dividend

Dividend A dividend is cash paid out per share. Dividend per share is the declared amount for the period; the trailing twelve-month total is the four most recent quarters added together.

Applied Industrial Technologies, Inc. paid $1.89 per share over the last four reported quarters, up 10.9% on a year ago. The most recent declaration was $0.51 for Mar 26. Against the current price of $357 that is a trailing yield of 0.53%, measured on dividends already paid rather than on a forecast.

Applied Industrial Technologies, Inc. paid $1.89 per share across the last four reported quarters, most recently $0.51 for Mar 26. That is up 10.9% against the same quarter a year earlier. Against the current price of $357 the trailing twelve months work out to 0.53% — trailing dividends measured against today's price, not a forward estimate.

Dividend per share by quarter Declared dividend per share, $ B, per reported quarter. 12 quarters on file.
latest $0.51 (Mar 26)
Dividend per share
0.60.40.30.10.0$ B$1BJun 23Dec 23Sep 24Jun 25Mar 26
0.60.40.30.10.0$ B$1BJun 23Sep 24Mar 26
12 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Applied Industrial Technologies, Inc. carries total debt of $0.4 B against shareholder equity of $1.9 B as of Mar 26, a debt-to-equity of 0.20 — effectively unlevered. On the annual view that ratio went from 0.89 in FY21 to 0.31 in FY25. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of $0.4 B against shareholder equity of $1.9 B — a debt-to-equity of 0.20. On the annual view, debt-to-equity went from 0.89 (FY21) to 0.31 (FY25). The returns on this page are earned, not borrowed.

FY25: debt $0.6 B at 0.31× equity Total debt by fiscal year, $ B (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
0.90.9×0.70.8×0.40.6×0.20.4×0.00.3×$ B×$1B0.31×FY21FY23FY25
0.90.9×0.70.8×0.40.6×0.20.4×0.00.3×$ B×$1B0.31×FY21FY23FY25
Mar 26: debt $0.4 B, debt-to-equity 0.20 Total debt per quarter, $ B (bars); debt-to-equity, × (line). Last 12 quarters.
Total debt (quarterly)Debt-to-equity
0.70.44×0.50.37×0.30.31×0.20.25×0.00.18×$ B×$0B0.20×Jun 23Sep 24Mar 26
0.70.44×0.50.37×0.30.31×0.20.25×0.00.18×$ B×$0B0.20×Jun 23Sep 24Mar 26
13 · Ownership

Ownership There is no quarter-by-quarter holder register to read here, so we read the crowd through short interest — the slice of tradable shares currently sold short, positioned for a fall.

2.1% of Applied Industrial Technologies, Inc.'s tradable float is currently sold short — some money is positioned against it. At typical trading volumes those positions would take about 2.4 days to buy back. There is no quarter-by-quarter holder register to read for this filer, so the crowd is read through short interest instead.

The latest reading: 2.1% of the float is sold short, and at typical trading volumes it would take about 2.4 days to buy those positions back. Some money is positioned against it. This is a single point-in-time reading — we do not yet hold its history, so we show no trend chart.

Short interest
2.1%
of the tradable float
Days to cover
2.4
at typical volumes

Why it sits there: who is doing the shorting, and why, does not travel with the number — the level is shown without inventing its story.

14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Applied Industrial Technologies, Inc.: the Z-score reads 9.00. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

Why it matters: a Z-score of 9.00 sits well clear of the distress zone — the balance sheet is not the risk here.

The safety line in one sentence: the Z-score reads 9.00.

15 · Related companies · Industrial Distribution
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1MSC Industrial Direct Co., Inc.MSM 67.3/100Favorable setup85% evidence LEADER 23.2/35 Revenue 4.4% · PAT 16.3% · OPM change 1.7 pp 95% evidence 14.2/25 ROCE 6.1% · OPM 10.2% 76% evidence 11.1/20 P/E 26.4× · PEG 1.56 65% evidence 18.8/20 RS sector 20.9% · RS bench 17.7% · 1Y 47.2%12 of 12 weeks ahead 100% evidence
Exact sum: 23.2 + 14.2 + 11.1 + 18.8 = 67.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Fastenal CompanyFAST 61.4/100Thin evidence · provisional58% evidence TURNING 20.6/35 Revenue — · PAT — · OPM change 0.2 pp 45% evidence 18.4/25 ROCE 11.7% · OPM 20.3% 76% evidence 9.2/20 P/E 40.7× · PEG — 15% evidence 13.2/20 RS sector 1.8% · RS bench -1.3% · 1Y 3.6%1 of 12 weeks ahead 100% evidence
Exact sum: 20.6 + 18.4 + 9.2 + 13.2 = 61.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3Ferguson Enterprises Inc.FERG 57.9/100Mixed-positive evidence81% evidence TURNING 19.5/35 Revenue 6.2% · PAT 27.7% · OPM change 2.2 pp 83% evidence 12.6/25 ROCE 5.2% · OPM 8.2% 76% evidence 15.7/20 P/E 21.8× · PEG 0.7 65% evidence 10.1/20 RS sector -1.1% · RS bench -3.9% · 1Y 14.3%0 of 12 weeks ahead 100% evidence
Exact sum: 19.5 + 12.6 + 15.7 + 10.1 = 57.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4WESCO International, Inc.WCC 55.3/100Thin evidence · provisional58% evidence TURNING 20.1/35 Revenue — · PAT — · OPM change 0.3 pp 45% evidence 10.3/25 ROCE 3.1% · OPM 4.8% 76% evidence 10.5/20 P/E 23.9× · PEG — 15% evidence 14.4/20 RS sector 22.2% · RS bench 19.1% · 1Y 83.1%6 of 12 weeks ahead 100% evidence
Exact sum: 20.1 + 10.3 + 10.5 + 14.4 = 55.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5W.W. Grainger, Inc.GWW 54.8/100Mixed-positive evidence81% evidence FADING 17.9/35 Revenue 6.6% · PAT -4.3% · OPM change 1.1 pp 83% evidence 17.5/25 ROCE 11.4% · OPM 16.7% 76% evidence 5.3/20 P/E 29.3× · PEG 3.25 65% evidence 14.1/20 RS sector 8.1% · RS bench 5.2% · 1Y 36.9%9 of 12 weeks ahead 100% evidence
Exact sum: 17.9 + 17.5 + 5.3 + 14.1 = 54.8 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
6Applied Industrial Technologies, Inc.this pageAIT 53.8/100Mixed-positive evidence81% evidence BREAKING OUT 17.7/35 Revenue 7.5% · PAT 4.1% · OPM change -0.1 pp 83% evidence 13.8/25 ROCE 5.4% · OPM 11% 76% evidence 5.3/20 P/E 25.1× · PEG 3.96 65% evidence 17.0/20 RS sector 16.8% · RS bench 13.6% · 1Y 35.6%9 of 12 weeks ahead 100% evidence
Exact sum: 17.7 + 13.8 + 5.3 + 17 = 53.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Xometry, Inc.XMTR 52.4/100Mixed-positive evidence61% evidence LEADER 23.9/35 Revenue 28.9% · PAT — · OPM change 7.7 pp 62% evidence 4.2/25 ROCE -0.9% · OPM -2.5% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 14.3/20 RS sector 36.2% · RS bench 33% · 1Y 120.1%12 of 12 weeks ahead 100% evidence
Exact sum: 23.9 + 4.2 + 10 + 14.3 = 52.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Pool CorporationPOOL 51.6/100Thin evidence · provisional58% evidence TURNING 17.8/35 Revenue — · PAT — · OPM change 0.1 pp 45% evidence 14.9/25 ROCE 9.2% · OPM 7.3% 76% evidence 11.0/20 P/E 19.8× · PEG — 15% evidence 7.9/20 RS sector -21.9% · RS bench -24.5% · 1Y -33.4%0 of 12 weeks ahead 100% evidence
Exact sum: 17.8 + 14.9 + 11 + 7.9 = 51.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9DXP Enterprises, Inc.DXPE 50.7/100Mixed-positive evidence81% evidence TURNING 16.9/35 Revenue 10.4% · PAT 11.3% · OPM change -0.4 pp 83% evidence 11.6/25 ROCE 3.3% · OPM 8.1% 76% evidence 7.9/20 P/E 26.1× · PEG 2.33 65% evidence 14.3/20 RS sector 17.9% · RS bench 14.4% · 1Y 55.4%3 of 12 weeks ahead 100% evidence
Exact sum: 16.9 + 11.6 + 7.9 + 14.3 = 50.7 · Decision use: Price leads the evidence: RS versus the benchmark is 14.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
10Global Industrial CompanyGIC 49.3/100Thin evidence · provisional52% evidence TURNING 12.3/35 Revenue — · PAT — · OPM change -3.4 pp 45% evidence 12.4/25 ROCE 5.4% · OPM 5.9% 76% evidence 11.2/20 P/E 16× · PEG — 15% evidence 13.4/20 RS sector 6.9% · RS bench 3.6% · 1Y 7.9%1 of 12 weeks ahead 70% evidence
Exact sum: 12.3 + 12.4 + 11.2 + 13.4 = 49.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11Distribution Solutions Group, Inc.DSGR 46.2/100Mixed-negative evidence65% evidence TURNING 16.8/35 Revenue 7.1% · PAT 100% · OPM change -1.5 pp 83% evidence 6.1/25 ROCE 0.9% · OPM 2.7% 76% evidence 8.7/20 P/E 218.7× · PEG — 15% evidence 14.6/20 RS sector 11.8% · RS bench 8.4% · 1Y 13.2%6 of 12 weeks ahead 70% evidence
Exact sum: 16.8 + 6.1 + 8.7 + 14.6 = 46.2 · Decision use: Price leads the evidence: RS versus the benchmark is 8.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
12Core & Main, Inc.CNM 45.3/100Mixed-negative evidence85% evidence BASING 16.8/35 Revenue 0.5% · PAT 7.3% · OPM change 0.4 pp 95% evidence 12.4/25 ROCE 3.5% · OPM 9.3% 76% evidence 9.7/20 P/E 20.8× · PEG 2.13 65% evidence 6.4/20 RS sector -17.4% · RS bench -20% · 1Y -27.6%0 of 12 weeks ahead 100% evidence
Exact sum: 16.8 + 12.4 + 9.7 + 6.4 = 45.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Watsco, Inc.WSO 41.5/100Thin evidence · provisional58% evidence ASLEEP 15.6/35 Revenue — · PAT — · OPM change -0.1 pp 45% evidence 13.6/25 ROCE 6.2% · OPM 7.2% 76% evidence 9.3/20 P/E 36.1× · PEG — 15% evidence 3.0/20 RS sector -18.9% · RS bench -21.4% · 1Y -18.4%0 of 12 weeks ahead 100% evidence
Exact sum: 15.6 + 13.6 + 9.3 + 3 = 41.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
14SiteOne Landscape Supply, Inc.SITE 40.5/100Thin evidence · provisional58% evidence BASING 17.9/35 Revenue — · PAT — · OPM change 0.3 pp 45% evidence 10.3/25 ROCE 7.5% · OPM -2.8% 76% evidence 9.5/20 P/E 32× · PEG — 15% evidence 2.8/20 RS sector -27.1% · RS bench -29.4% · 1Y -23.5%0 of 12 weeks ahead 100% evidence
Exact sum: 17.9 + 10.3 + 9.5 + 2.8 = 40.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
15Titan Machinery Inc.TITN 39.5/100Mixed-negative evidence61% evidence BASING 13.2/35 Revenue -11.7% · PAT — · OPM change -0.1 pp 71% evidence 5.7/25 ROCE -0.7% · OPM -1.1% 76% evidence 11.3/20 P/E 10.2× · PEG — 15% evidence 9.3/20 RS sector -0.9% · RS bench -3.8% · 1Y 2.6%4 of 12 weeks ahead 70% evidence
Exact sum: 13.2 + 5.7 + 11.3 + 9.3 = 39.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16EVI Industries, Inc.EVI 38.1/100Mixed-negative evidence75% evidence BASING 16.0/35 Revenue 17% · PAT 0% · OPM change -0.2 pp 83% evidence 8.3/25 ROCE 1.1% · OPM 2.2% 76% evidence 10.8/20 P/E 45.7× · PEG 1.54 65% evidence 3.0/20 RS sector -40.7% · RS bench -42.6% · 1Y -38.8%0 of 12 weeks ahead 70% evidence
Exact sum: 16 + 8.3 + 10.8 + 3 = 38.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17BlueLinx Holdings Inc.BXC 36.0/100Thin evidence · provisional52% evidence TURNING 14.4/35 Revenue — · PAT — · OPM change -0.9 pp 45% evidence 6.8/25 ROCE 0.5% · OPM 1% 76% evidence 8.5/20 P/E 3037.5× · PEG — 15% evidence 6.3/20 RS sector -6.3% · RS bench -9.4% · 1Y -10.7%3 of 12 weeks ahead 70% evidence
Exact sum: 14.4 + 6.8 + 8.5 + 6.3 = 36 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18DNOW Inc.DNOW 35.0/100Mixed-negative evidence71% evidence TURNING 10.2/35 Revenue 41.3% · PAT -286.8% · OPM change -9 pp 83% evidence 5.3/25 ROCE -2.4% · OPM -4.2% 76% evidence 9.8/20 P/E 29.3× · PEG — 15% evidence 9.7/20 RS sector -3.6% · RS bench -6.5% · 1Y -3.7%4 of 12 weeks ahead 100% evidence
Exact sum: 10.2 + 5.3 + 9.8 + 9.7 = 35 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19QXO, Inc.QXO 33.4/100Adverse evidence71% evidence BASING 16.7/35 Revenue 100% · PAT -1530.6% · OPM change 276.5 pp 83% evidence 3.1/25 ROCE -2.5% · OPM -14.6% 76% evidence 11.5/20 P/E 2.8× · PEG — 15% evidence 2.1/20 RS sector -27.7% · RS bench -30% · 1Y -20.4%0 of 12 weeks ahead 100% evidence
Exact sum: 16.7 + 3.1 + 11.5 + 2.1 = 33.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Resideo Technologies, Inc.REZI 30.8/100Thin evidence · provisional58% evidence ASLEEP 12.5/35 Revenue — · PAT — · OPM change -3.8 pp 45% evidence 9.0/25 ROCE 1.5% · OPM 5.3% 76% evidence 8.8/20 P/E 55.7× · PEG — 15% evidence 0.5/20 RS sector -31.8% · RS bench -33.8% · 1Y -4.1%0 of 12 weeks ahead 100% evidence
Exact sum: 12.5 + 9 + 8.8 + 0.5 = 30.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Applied Industrial Technologies, Inc.'s stock price today?

Applied Industrial Technologies, Inc. trades at $357, +35.1% over the past year. The company is valued at $13.0 B. The stock sits at 100% of its 52-week range of $246–$357, +24.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 19 weeks in. — as of 5 August 2026.

What were Applied Industrial Technologies, Inc.'s latest quarterly results?

Applied Industrial Technologies, Inc. reported revenue of $1.3 B and net profit of $0.1 B for the Mar 26 quarter. Revenue rose 6.8% and profit rose 0.0% year on year. Earnings per share were $2.65. The operating margin was 11.2%, 0.1 pp higher than a year earlier. — as of 5 August 2026.

What is Applied Industrial Technologies, Inc.'s revenue?

Applied Industrial Technologies, Inc. reported revenue of $1.3 B in the Mar 26 quarter, +6.8% year on year. For the full FY25 fiscal year, revenue was $4.6 B (+1.8%). Over the last 4 years revenue compounded at 8.9% a year. — as of 5 August 2026.

What is Applied Industrial Technologies, Inc.'s profit?

Applied Industrial Technologies, Inc. earned $0.1 B of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY25 profit was $0.4 B. The operating margin ran 11.2% in the latest quarter. — as of 5 August 2026.

What is Applied Industrial Technologies, Inc.'s market cap?

Applied Industrial Technologies, Inc.'s market capitalisation is $13.0 B at a stock price of $357. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 5 August 2026.

What is Applied Industrial Technologies, Inc.'s P/E ratio?

Applied Industrial Technologies, Inc. trades at a P/E of 33.7×, at the 100th percentile of its own 4-year range, against a long-run median of 20.2×. This is a comparison with the stock's own history, not a value call — as of 5 August 2026.

Does Applied Industrial Technologies, Inc. pay a dividend?

Yes — Applied Industrial Technologies, Inc. declared $0.51 per share for Mar 26, and $1.89 per share across the last four reported quarters. The latest quarter is up 10.9% on the same quarter a year earlier. — as of 5 August 2026.

What is Applied Industrial Technologies, Inc.'s dividend per share?

Applied Industrial Technologies, Inc.'s most recently declared dividend is $0.51 per share for Mar 26, giving $1.89 per share over the trailing twelve months. Each figure is the amount declared for that quarter as reported, added across four quarters for the trailing total. — as of 5 August 2026.

What is Applied Industrial Technologies, Inc.'s dividend yield?

Applied Industrial Technologies, Inc.'s trailing dividend yield is 0.53%: $1.89 declared per share across the last four reported quarters, against a share price of $357. Each quarter’s figure is the amount declared for that quarter as reported, added across four quarters and divided by the latest close. — as of 5 August 2026.

Is Applied Industrial Technologies, Inc. overvalued?

On its own history, Applied Industrial Technologies, Inc. looks expensive against its own history: its P/E of 33.7× sits at the 100th percentile of its 4-year range (long-run median 20.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 5 August 2026.

Is Applied Industrial Technologies, Inc. growing?

Yes — Applied Industrial Technologies, Inc. is growing: latest-quarter revenue +6.8% year on year, profit +0.0%, and the margin +0.1 pp at 11.2%. The 4-year compound rates are 8.9% (revenue) and 29.2% (profit). The earnings engine currently reads: improving — as of 5 August 2026.

How is Applied Industrial Technologies, Inc. performing?

Applied Industrial Technologies, Inc. is in a confirmed uptrend, 19 weeks in. Its latest quarter's revenue rose 6.8% and profit rose 0.0% year on year. Against the S&P 500 it has been ahead on a trailing-13-week view for 10 weeks. This describes what the data did, not a rating. — as of 5 August 2026.

What stage is Applied Industrial Technologies, Inc. in?

Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 20.8% and holding. The read comes from the last 12 quarters of growth (revenue growth +7.3% latest, profit growth +7.9% latest, eps growth +6.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 5 August 2026.

Is Applied Industrial Technologies, Inc. in an uptrend?

Yes — the price is in a confirmed uptrend (week 19 of stage 2), trading +24.6% versus its 200-day average and at 100% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 5 August 2026.

Is Applied Industrial Technologies, Inc. beating the market?

On recent form, yes — Applied Industrial Technologies, Inc. has been ahead of the S&P 500 on a trailing-13-week view for 10 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.1 years the stock moved +681% against the S&P 500's +263% — ahead of the index over the full window. — as of 5 August 2026.

Will Applied Industrial Technologies, Inc.'s stock price go up?

This page publishes no price forecast for Applied Industrial Technologies, Inc. What it measures instead: the stock price is $357, the price is in a confirmed uptrend 19 weeks in. Its P/E of 33.7× sits at the 100th percentile of its own 4-year range. — as of 5 August 2026.

Is the market betting against Applied Industrial Technologies, Inc.?

Somewhat — short interest is 2.1% of Applied Industrial Technologies, Inc.'s tradable float, about 2.4 days to cover at typical volumes. A moderate reading: some money is positioned against it. With no quarter-by-quarter holder register here, short interest is the cleanest crowd read we hold — as of 5 August 2026.

Does Applied Industrial Technologies, Inc. have too much debt?

No — Applied Industrial Technologies, Inc.'s debt-to-equity is 0.20. A year-by-year borrowings ladder is not in our numbers for this stock, so the latest reading is the cleanest hold. The returns on this page are earned, not borrowed — as of 5 August 2026.

What is Applied Industrial Technologies, Inc.'s capex?

Applied Industrial Technologies, Inc. spent $0.0 B on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was $0.0 B. — as of 5 August 2026.

What is Applied Industrial Technologies, Inc.'s cash flow?

Applied Industrial Technologies, Inc. generated $0.5 B of operating cash flow in FY25 and $0.5 B of free cash flow after $0.0 B of capital spending. Reported profit that year was $0.4 B, so operating cash ran ahead of profit. — as of 5 August 2026.

Is Applied Industrial Technologies, Inc.'s profit real cash?

Yes — over the last 3 fiscal years, 106% of Applied Industrial Technologies, Inc.'s reported profit arrived as operating cash. In FY25, operating cash was $0.5 B against reported profit of $0.4 B. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 5 August 2026.

How financially safe is Applied Industrial Technologies, Inc.?

On the balance sheet, the Z-score reads 9.00 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 5 August 2026.

Where is Applied Industrial Technologies, Inc. in its business cycle?

Applied Industrial Technologies, Inc.'s FY25 operating margin was 11.0%, against a 5-year band of 6.5%–11.2%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.2%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 5 August 2026.

What could break the Applied Industrial Technologies, Inc. story?

The sharpest disagreement: the price moved +35.1% in a year while annual EPS moved +3.0% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 5 August 2026.

Is Applied Industrial Technologies, Inc. a stock worth studying right now?

This is not investment advice. The machine read: Applied Industrial Technologies, Inc.'s price has outrun its earnings. +35.1% in a year against EPS +3.0% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 5 August 2026.

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