MeritValue

APPLIED INDUSTRIAL TECHNOLOGIES INC

AITdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$3.24B1$3.81B2$4.41B3$4.48B3$4.56B3
Net income$144.8M4$257.4M5$346.7M6$385.8M6$393M6
Operating cash flow$241.7M7$187.6M8$344M9$371.4M9$492.4M9
Capital expenditure$15.9M10$18.1M11$26.5M12$24.9M12$27.2M12
Free cash flow (derived)$225.8M7$169.4M8$317.5M9$346.5M9$465.2M9
Total debt$828.4M13$689.3M14$622.1M15$597.3M16$572.3M16
Cash & equivalents$257.7M17$184.5M18$344M18$460.6M18$388.4M18
Diluted shares39.3M39.1M39.2M39.3M38.8M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000026%
of the whole company
Your share of last year’s profit
$101.24
Your share of its debt
$147.44
Your share of free cash flow
$119.85
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$382.15
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth15.3%
  • fcfBase$346.5M
DCF · Growth Exit 5Y
$244.07
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth15.3%
  • fcfBase$346.5M
Earnings Power Value
$94.13
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$346.7M
  • growthAssumed0.0%
Graham Number
$104.02
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years15.3%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $244.07

Default growth 15.3%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-06-30 · accession 0000109563-23-000075 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K/A · period ending 2022-06-30 · accession 0000109563-24-000092 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-06-30 · accession 0000109563-25-000080 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-06-30 · accession 0000109563-23-000075 (NetIncomeLoss)
  5. 10-K/A · period ending 2022-06-30 · accession 0000109563-24-000092 (NetIncomeLoss)
  6. 10-K · period ending 2023-06-30 · accession 0000109563-25-000080 (NetIncomeLoss)
  7. 10-K · period ending 2021-06-30 · accession 0000109563-23-000075 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K/A · period ending 2022-06-30 · accession 0000109563-24-000092 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-06-30 · accession 0000109563-25-000080 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-06-30 · accession 0000109563-23-000075 (PaymentsToAcquireProductiveAssets)
  11. 10-K/A · period ending 2022-06-30 · accession 0000109563-24-000092 (PaymentsToAcquireProductiveAssets)
  12. 10-K · period ending 2023-06-30 · accession 0000109563-25-000080 (PaymentsToAcquireProductiveAssets)
  13. 10-K · period ending 2021-06-30 · accession 0000109563-22-000096 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2022-06-30 · accession 0000109563-23-000075 (LongTermDebtNoncurrent)
  15. 10-K/A · period ending 2023-06-30 · accession 0000109563-24-000092 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2024-06-30 · accession 0000109563-25-000080 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2021-06-30 · accession 0000109563-21-000082 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-06-30 · accession 0000109563-25-000080 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)