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Applied Industrial Technologies cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$73.4M in Q1 FY27 · $422M over twelve months

Operating cash flow$86.4M
Capital spending−$13.0M
Free cash flow+$73.4M
Cash / net income0.8×
Cash conversion cycle80 days

Analysis

In Q1 FY27, Applied Industrial Technologies generated $86.4M of operating cash flow and spent $13.0M on capital projects, leaving free cash flow of $73.4M. That is $38.7M less than in Q1 FY26 ($112M).

Over the twelve months to Sep 30, 2026, operating cash flow was $451M; the largest uses were buybacks ($344M), other financing ($289M), dividends ($74.0M); besides operations, cash came from asset & business sales ($1.2M); the cash balance fell by $306M.

Operating cash flow was $86.4M against net income of $110M — 0.8× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$16.3M, contract assets +$6.2M, deferred revenue +$1.7M.

Its cash conversion cycle was 80 days (receivables 59 + inventory 53 − payables 32).

Free cash flow

Applied Industrial Technologies: free cash flow by quarterApplied Industrial Technologies: free cash flow by quarter$89.9MQ2 FY25$115MQ3 FY25$138MQ4 FY25$112MQ1 FY26$93.4MQ2 FY26$95.4MQ3 FY26$160MQ4 FY26$73.4MQ1 FY27
Operating cash flow less capital spending.
Applied Industrial Technologies: operating cash flow against capital spendingApplied Industrial Technologies: operating cash flow against capital spendingOperating cash flowCapital spending$95.1M$5.2MQ2 FY25$122M$7.5MQ3 FY25$147M$8.9MQ4 FY25$119M$7.3MQ1 FY26$99.7M$6.3MQ2 FY26$100M$4.7MQ3 FY26$165M$5.3MQ4 FY26$86.4M$13.0MQ1 FY27
Latest (Q1 FY27): Operating cash flow $86.4M, Capital spending $13.0M.

Capital allocation, year by year

Applied Industrial Technologies: where the cash came from (up) and went (down), by fiscal yearApplied Industrial Technologies: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $188MFY22: Net borrowing $821MFY22: Shares issued $555KFY22: Asset sales $1.1MFY22: Capital spending −$18.1MFY22: Acquisitions −$7.0MFY22: Buybacks −$13.8MFY22: Dividends −$51.8M$1.0BFY22FY23: Operating cash flow $344MFY23: Net borrowing −$27.0MFY23: Shares issued $127KFY23: Asset sales $1.4MFY23: Capital spending −$26.5MFY23: Acquisitions −$35.8MFY23: Buybacks −$716KFY23: Dividends −$53.4M$346MFY23FY24: Operating cash flow $371MFY24: Net borrowing $408KFY24: Shares issued $127KFY24: Asset sales $576KFY24: Capital spending −$24.9MFY24: Acquisitions −$72.1MFY24: Buybacks −$73.4MFY24: Dividends −$55.9M$373MFY24FY25: Operating cash flow $492MFY25: Asset sales $1.8MFY25: Capital spending −$27.2MFY25: Acquisitions −$293MFY25: Buybacks −$153MFY25: Dividends −$63.7M$494MFY25FY26: Operating cash flow $484MFY26: Net borrowing −$310MFY26: Asset sales $1.1MFY26: Capital spending −$23.6MFY26: Acquisitions −$11.4MFY26: Buybacks −$317MFY26: Dividends −$72.6M$485MFY26
Over these 5 years operating cash flow totalled $1.9B; the largest uses were buybacks ($558M) and acquisitions ($420M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$112M
Debt$300M
Net debt$188M
Due within a year$18.0M

Applied Industrial Technologies funds itself: free cash flow was $422M over the last twelve months, and $112M of cash and investments stands against $300M of debt ($18.0M due within a year, 6.2× covered by cash).

Applied Industrial Technologies: debt maturities by year (FY26)Applied Industrial Technologies: debt maturities by year (FY26)$188MYear 3$74.0MYear 5
Principal due in each year as disclosed in the annual report, against $112M of cash and investments now.

Where the cash came from and went

Applied Industrial Technologies: sources (+) and uses (−) of cash, Q1 FY27Applied Industrial Technologies: sources (+) and uses (−) of cash, Q1 FY27Operating cash flow$86.4MBuybacks−$80.0MOther financing$19.7MDividends−$18.8MCash drawn (+) / kept (−)$14.9MCapital spending−$13.0MTaxes on employees’ shares−$8.7MExchange rates−$558KAsset & business sales$98K
Applied Industrial Technologies: sources (+) and uses (−) of cash, TTM to Q1 FY27Applied Industrial Technologies: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$451MBuybacks−$344MCash drawn (+) / kept (−)$306MOther financing−$289MDividends−$74.0MCapital spending−$29.3MTaxes on employees’ shares−$13.7MAcquisitions−$9.1MAsset & business sales$1.2MExchange rates$418K

From profit to cash

Applied Industrial Technologies: net income to operating cash flow, Q1 FY27Applied Industrial Technologies: net income to operating cash flow, Q1 FY27Net income$110MDepreciation & amortization$16.3MOther non-cash$305KDeferred revenue$1.7MContract assets$6.2MOperating cash flow$86.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2759533280
Q4 FY2655503174
Q3 FY2654552979
Q2 FY2658603087
Q1 FY2658563184
Q4 FY2557543080
Q3 FY2556562983
Q2 FY2559633191

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q1 FY27$86.4M−$13.0M—−$80.0M−$18.8M$14.9M$73.4M
Q4 FY26$165M−$5.3M$1K−$80.8M−$18.9M$44.4M$160M
Q3 FY26$100M−$4.7M−$9.0M−$93.0M−$19.0M$234M$95.4M
Q2 FY26$99.7M−$6.3M−$145K−$90.2M−$17.3M$12.7M$93.4M
Q1 FY26$119M−$7.3M−$2.3M−$53.2M−$17.4M−$30.3M$112M
Q4 FY25$147M−$8.9M−$20.1M−$73.0M−$17.5M−$35.6M$138M
Q3 FY25$122M−$7.5M−$170K−$49.7M−$17.7M−$49.4M$115M
Q2 FY25$95.1M−$5.2M−$263M−$20.1M−$14.3M$235M$89.9M

Applied Industrial Technologies: income statement and cash flow

Applied Industrial Technologies, Q1 FY27: revenue $1.3B (+8% year over year), operating margin 11.1%. The chart follows the revenue to costs, profit and cash.

Applied Industrial Technologies: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.