APPLIED INDUSTRIAL TECHNOLOGIES, INC.

AIT · Industrials · $12.6B mkt cap · FY2025 filings · Narrow moat

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Narrow moat

The four filters

Pricing power22

Median gross margin 29.0% over 10y, variable.

Returns on capital88

Median ROIC 18.1%, above the 9% hurdle in 90% of years.

Balance-sheet safety95

Net debt/EBITDA 0.4x, interest coverage 27x.

Capital discipline86

Owner earnings +41.2%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

118% above value

Owner earnings (normalized): $320.3M
Est. intrinsic value / share: $152.23
Recent price: $332.18
Discount to value: 118% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell AIT. See the disclaimer.