APPLIED INDUSTRIAL TECHNOLOGIES INC

Listed Company

AITCIK 0000109563NYSELarge AcceleratedWholesale-Machinery, Equipment & SuppliesOhioFY ends Jun 30

Period

FY 2025

Revenue

$4.56B

Net Income

$392.99M

Total Assets

$3.18B

Equity

$1.84B

Shares Out

36.96M

Op. Cash Flow

$492.38M

Business

APPLIED INDUSTRIAL TECHNOLOGIES INC is a distributor and technical solutions provider of industrial motion, power, control, and automation technologies. It offers industrial bearings, power transmission products, fluid power components and systems, specialty flow control, advanced automation solutions, general maintenance products, and services including inventory management, engineering, assembly, repair, and systems integration. The company operates through two reportable segments—Service Center and Engineered Solutions—providing MRO-focused distribution and engineered design, integration, and repair services. It serves customers primarily in North America and also through operations and channels in Canada, Mexico, Australia, New Zealand, Singapore, and Costa Rica.

Summary from filing dated 2025-08-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net sales	4,563	4,479	4,413	3,811	3,236
Cost of sales	3,180	3,143	3,126	2,704	2,300
Gross profit	1,383	1,337	1,287	1,107	936
Selling, distribution, and administrative expense, including depreciation	885	841	814	749	681
Operating income	499	496	473	358	205
Interest expense	18	21	25	27	31
Interest income	−18	−18	−3	−522,000	−215,000
Other (income) expense, net	−3	−5	2	2	−2
Income before income taxes	501	498	450	330	177
Income tax expense	108	112	103	72	32
Net income	393	386	347	257	145
Net income per share basic	10.26	9.98	8.98	6.69	3.73
Net income per share diluted	10.12	9.83	8.84	6.58	3.68

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	388	461	344	184	258
Accounts receivable net	770	725	708	656	516
Inventories	505	488	501	450	363
Other current assets	84	96	93	69	60
Total current assets	1,747	1,770	1,647	1,360	1,197
Land	14	14	14	14	14
Buildings	117	115	110	108	107
Equipment, including computers and software	253	234	220	204	198
Total property at cost	384	363	344	327	320
Less accumulated depreciation	256	245	229	215	204
Property net	128	119	115	112	116
Operating lease assets net	189	133	101	108	87
Identifiable intangibles net	349	246	236	251	280
Goodwill	699	619	578	563	560
Other assets	63	65	67	59	33
Total Assets	3,176	2,952	2,743	2,453	2,272
Accounts payable	280	267	302	259	208
Current portion of long-term debt	0	25	25	40	44
Compensation and related benefits	100	93	99	91	78
Other current liabilities	146	116	115	109	98
Total current liabilities	526	501	540	500	428
Long-term debt	572	572	597	649	785
Other liabilities	233	190	148	154	127
Total Liabilities	1,331	1,263	1,285	1,303	1,339
Preferred stock no par value; 2,500 shares authorized; none issued or outstanding	0	0	0	0	0
Preferred Stock, Shares Authorized	3	3	3	3	3
Common stock no par value; 80,000 shares authorized; 54,213 shares issued; 37,868 and 38,409 shares outstanding, respectively	10	10	10	10	10
Common Stock, Shares authorized	80	80	80	80	80
Common Stock, Shares, Issued	54	54	54	54	54
Common Stock, Shares, Outstanding	38	38	39	38	39
Additional paid-in capital	199	194	189	184	177
Retained earnings	2,448	2,122	1,793	1,500	1,294
Treasury shares at cost (16,345 and 15,804 shares, respectively)	−721	−559	−478	−472	−456
Treasury Stock, Shares	16	16	16	16	—
Accumulated other comprehensive loss	−92	−78	−55	−72	−93
Total Shareholders Equity	1,845	1,689	1,458	1,149	933
Total Liabilities and Shareholders Equity	3,176	2,952	2,743	2,453	2,272

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization of property	25	23	22	22	21
Amortization of intangibles	36	29	31	32	34
Deferred income taxes	−6	−1	−6	15	−31
Provision for (recoveries of) losses on accounts receivable	6	−205,000	6	3	7
Amortization of stock appreciation rights	5	3	3	3	3
Other share-based compensation expense	7	9	10	9	6
Other	373,000	−1	1	−2	1
Accounts receivable	−5	−2	−51	−146	−59
Inventories	29	18	−43	−92	41
Other operating assets	−11	−26	−25	−5	−5
Accounts payable	2	−39	38	54	11
Other operating liabilities	12	−28	12	37	19
Cash provided by Operating Activities	492	371	344	188	242
Cash paid for acquisition of businesses, net of cash acquired	−293	−72	−36	−7	−30
Capital expenditures	−27	−25	−26	−18	−16
Proceeds from property sales	2	576,000	1	1	1
Life insurance proceeds	0	971,000	0	3	0
Cash used in Investing Activities	−319	−95	−61	−36	−45
Repayments under revolving credit facility	0	0	27	0	0
Borrowings under revolving credit facility	0	408,000	0	411	0
Long-term debt repayments	−25	−25	−40	−550	−132
Interest rate swap settlement receipts	12	14	9	−6	−4
Purchases of treasury shares	−153	−73	−716,000	−14	−40
Dividends paid	−64	−56	−53	−52	−51
Acquisition holdback payments	−1	−681,000	−2	−2	−2
Exercise of stock appreciation rights and options	0	127,000	127,000	555,000	163,000
Taxes paid for shares withheld	−15	−16	−13	−8	−10
Cash used in Financing Activities	−246	−156	−127	−223	−213
Effect of exchange rate changes on cash	−226,000	−3	3	−2	5
(Decrease) increase in cash and cash equivalents	−72	117	160	−73	−11
Income taxes	108	116	108	53	64
Interest (includes interest rate swap settlements)	22	24	23	20	27

Filings

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