Forensic Analysis · Trading Companies & Distributors · as of Aug 10, 2026

Applied Industrial Technologies Inc (AIT)

A forensic read on Applied Industrial Technologies Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality, modest growth

Forensic grade

Safe

Financial health

16.5

Distress distance

Clean

Earnings quality

Forensic signals

33.0

P / E (ttm)

21.3%

ROE

$13.2B

Market cap

0.57%

Dividend yield

1.9%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Applied Industrial Technologies Inc earns an A (High-quality, modest growth) forensic quality grade, and its balance-sheet distress test reads 16.5, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+10.5%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +10.5% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 5% of net operating assets, diverging from the balance-sheet accrual read.

-0.2%/yr

FY2022–FY2025

Share count. Diluted share count changed -1% over the last 3 years to FY2025 (-0.2%/yr). Roughly flat — buybacks ($153M) are about offsetting stock comp ($12M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

$131M

FY2020–FY2020

Goodwill impairments. Took $131M of goodwill writedowns across 1 year (FY2020 ($131M)) — about 545% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$4.56B

Revenue Growth YoY+1.9%

Revenue CAGR (3yr)+6.2%

Net Margin8.6%

Free Cash Flow$465.2M

Return on Equity21.3%

Debt / Equity0.31x

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Data from SEC EDGAR public filings · metrics as of Aug 10, 2026. Forensic signals flag probability, not certainty.