APPLIED INDUSTRIAL TECHNOLOGIES, INC. vs QXO, Inc., two Distribution stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Applied Industrial is a seasoned industrial-parts distributor earning a 21.71% return on equity; QXO is a brand-new building-products rollup still losing money as it acquires its way to scale, a negative 5.07% return. Applied trades at 31.8 times real earnings, QXO at no clean multiple, its losses leaving only revenue and ambition to value. Applied nets 8.34% and converts 3.46% free cash; QXO nets a negative 6.02% and trades near book at 1.30 against Applied's 6.83. The pair sets a proven distributor against a startup rollup: Applied earns steady returns from an established parts network, QXO is buying its way toward a distribution empire and asks investors to fund the assembly, and only one has economics you can measure today.
Comparison updated 2026-07-11.
| Metric | AIT | QXO |
|---|---|---|
| Price | $336.94 | $17.80 |
| Market cap | $12.7B | $13.3B |
| Sector | Distribution | Distribution |
| Stage | Mature | Growth |
| P/E | 31.8 | — |
| P/B | 6.83 | 1.30 |
| P/S | 2.62 | 1.55 |
| EV/EBITDA | 23.4 | — |
| Revenue growth | +7.6% | +200.0% |
| Gross margin | 30.4% | 23.7% |
| Operating margin | 11.0% | -14.6% |
| Net margin | 8.3% | -6.0% |
| Return on equity | 21.7% | -5.1% |
| Return on assets | 13.5% | -3.1% |
| Return on invested capital | 17.4% | -2.7% |
| FCF yield | 3.5% | 1.5% |
| Dividend yield | 0.5% | — |
| Debt / equity | 0.20 | 0.30 |
| Current ratio | 2.95 | 3.33 |
| Altman Z (solvency) | 9.46 | 1.96 |
| Piotroski F (quality) | 8 / 9 | 3 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.