Applied Industrial Technologies vs DNOW
Applied Industrial Technologies reported revenue of $5.0 billion in fiscal 2026, 1.8 times DNOW's $2.8 billion in fiscal 2025. Applied Industrial Technologies' revenue grew 8.8% in its latest year, and DNOW's grew 18.8%. Applied Industrial Technologies had an operating margin of 11.1%, against -3.3% at DNOW. Free cash flow was $461 million at Applied Industrial Technologies and $134 million at DNOW. Their fiscal years end in different months (June 30 and December 31), so the periods don't line up exactly.
Side by side
| Applied Industrial Technologies | DNOW | |
|---|---|---|
| Latest fiscal year | FY2026, Jun 30, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $5.0B | $2.8B |
| Revenue growth | 8.8% | 18.8% |
| Revenue growth a year, last 5 years | 8.9% | 11.7% |
| Gross margin | 30.3% | 16.9% |
| Operating margin | 11.1% | −3.3% |
| Net margin | 8.3% | −3.2% |
| Free cash flow | $461M | $134M |
| Free cash flow margin | 9.3% | 4.8% |
| Return on capital | 20.8% | −4.3% |
| Net debt to EBITDA | 0.2x | — |
| Dividends and buybacks | $390M | $37M |
| Change in diluted share count | −2.5% | 10.0% |
| Last close | $283.39 | $13.27 |
| P/E at the last close | 25.1× | — |
| Insider trades, last 12 months | sold $15.8 million | sold $7.5 million |
| Piotroski F-score | 7 of 9 | 4 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Applied Industrial TechnologiesDNOW
Operating margin
Percent of revenue
Applied Industrial TechnologiesDNOW
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Applied Industrial TechnologiesDNOW
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Applied Industrial Technologies and DNOW pages.