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DCF valuation

What is Applied Industrial Technologies Inc worth?

With the base-case assumptions below, a discounted cash flow model on Applied Industrial Technologies Inc's reported free cash flow gives $279.16 per share. The share price was $298.92 on November 10, 2026, 7% above that value.

Inputs from the filings

Free cash flow, fiscal 2026
$460.5M
Average free cash flow, last 5 years
$351.8M
Cash
$112.2M
balance sheet of September 30, 2026
Debt
$282.3M
balance sheet of September 30, 2026
Diluted shares, fiscal 2026
37,857,000
Revenue growth per year, last 5 years
8.9%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear4.0%3.0%2.0%10.0%$169.30-43%
Base9.0%6.0%2.5%9.0%$279.16-7%
Bull14.0%8.5%3.0%8.0%$484.12+62%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$359.68$384.45$414.73$452.57$501.23
8.0%$299.45$315.51$334.50$357.28$385.12
9.0%$255.50$266.48$279.16$293.94$311.41
10.0%$222.07$229.88$238.74$248.85$260.53
11.0%$195.84$201.56$207.96$215.16$223.32

Where the presets come from

Base: years 1 to 5 grow at Applied Industrial Technologies Inc's revenue growth rate over the last 5 fiscal years (8.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Applied Industrial Technologies Inc company page