W.W. Grainger, Inc. (GWW) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$11.3	$12	+6.3%	—	—	—
Q4 26	$10.2	$11.7	+14.1%	—	—	—
Q3 26	$9.46	$9.44	-0.2%	—	—	—
Q2 26	$9.95	$10.2	+2.6%	—	—	—
Q1 26	$10.1	$9.97	-1.0%	—	—	—
Q4 25	$9.51	$9.86	+3.7%	—	—	—
Q3 25	$9.74	$9.71	-0.3%	—	—	—
Q2 25	$9.98	$9.87	-1.1%	—	—	—
Q1 25	$9.59	$9.76	+1.8%	—	—	—
Q4 24	$9.63	$9.62	-0.1%	—	—	—
Q3 24	$8.08	$8.33	+3.1%	—	—	—
Q2 24	$8.93	$9.43	+5.6%	—	—	—
Q1 24	$9.09	$9.28	+2.1%	—	—	—
Q4 23	$8.53	$9.61	+12.7%	—	—	—
Q3 23	$7	$7.14	+2.0%	—	—	—
Q2 23	$7.25	$8.27	+14.1%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$35.5	—	—	$17.9B	—
FY24	—	$38.8	—	—	$17.2B	—
FY23	—	$36.4	—	—	$16.5B	—
FY22	—	$30.2	—	—	$15.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$10.1B	$10.4B	$11.2B	$11.5B	$11.8B	$13B	$15.2B	$16.5B	$17.2B	$17.9B
YoY change	+1.64%	+2.84%	+7.64%	+2.36%	+2.71%	+10.4%	+16.9%	+8.21%	+4.19%	+4.51%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	10.1B	10.4B	11.2B	11.5B	11.8B	13B	15.2B	16.5B	17.2B	17.9B
Cost of revenue	6B	6.3B	6.9B	7.1B	7.6B	8.3B	9.4B	10B	10.4B	10.9B
Gross profit	4.1B	4.1B	4.3B	4.4B	4.2B	4.7B	5.8B	6.5B	6.8B	7B
Gross margin	40.6%	39.3%	38.7%	38.3%	35.9%	36.2%	38.4%	39.4%	39.4%	39.1%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3B	3.1B	3.2B	3.1B	3.2B	3.2B	3.6B	3.9B	4.1B	4.5B
Operating expenses	3B	3.1B	3.2B	3.1B	3.2B	3.2B	3.6B	3.9B	4.1B	4.5B
Operating income	1.1B	1B	1.2B	1.3B	1B	1.5B	2.2B	2.6B	2.6B	2.5B
Operating margin	11%	9.93%	10.3%	11%	8.64%	11.9%	14.5%	15.6%	15.4%	13.9%
Non-operating income, net	-19M	-13M	5M	26M	21M	25M	24M	28M	24M	16M
Pretax income	1B	936M	1.1B	1.2B	947M	1.5B	2.1B	2.5B	2.6B	2.4B
Income tax	386M	313M	258M	314M	192M	371M	533M	597M	595M	622M
Net income	633M	623M	823M	895M	755M	1.1B	1.6B	1.9B	2B	1.8B
Net margin	6.24%	5.98%	7.33%	7.79%	6.4%	8.55%	10.6%	11.5%	11.6%	10.1%
EBITDA	1.3B	1.3B	1.4B	1.5B	1.2B	1.8B	2.4B	2.8B	2.9B	2.8B
EPS	9.94	10.1	13.8	15.4	12.9	19.9	30.2	36.4	38.8	35.5
Diluted EPS	9.87	10	13.7	15.3	12.8	19.8	30.1	36.2	38.7	35.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	4.7B	4.4B	4.7B	5B
Cost of revenue	—	—	—	—	—	—	—	—	2.9B	2.7B	2.8B	3B
Gross profit	—	—	—	—	—	—	—	—	1.8B	1.7B	1.9B	2B
Gross margin	—	—	—	—	—	—	—	—	38.6%	39.5%	40%	39.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	1.3B	1.1B	1.1B	1.2B
Operating expenses	—	—	—	—	—	—	—	—	1.3B	1.1B	1.1B	1.2B
Operating income	—	—	—	—	—	—	—	—	511M	634M	793M	807M
Operating margin	—	—	—	—	—	—	—	—	11%	14.3%	16.7%	16.1%
Non-operating income, net	—	—	—	—	—	—	—	—	1M	6M	3M	11M
Pretax income	—	—	—	—	—	—	—	—	492M	620M	775M	798M
Income tax	159M	129M	158M	146M	166M	125M	157M	153M	171M	141M	194M	198M
Net income	—	—	—	—	—	—	—	—	321M	479M	581M	600M
Net margin	—	—	—	—	—	—	—	—	6.89%	10.8%	12.3%	11.9%
EBITDA	—	—	—	—	—	—	—	—	577M	704M	858M	884M
EPS	9.47	7.93	9.65	9.54	9.9	9.74	9.88	9.99	6.13	9.45	11.7	12
Diluted EPS	9.43	7.89	9.62	9.51	9.87	9.71	9.86	9.97	6.12	9.44	11.7	12

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	14B	13.6B	15.9B	18.5B	21.8B	26.9B	28.3B	41.4B	51.5B	48.3B	59.1B
Enterprise value	16B	15.6B	17.5B	20.4B	23.9B	29.4B	30.7B	43.4B	53.7B	50.6B	61.1B
Shares outstanding	60.4M	57.7M	56.1M	54.7M	53.5M	51.9M	50.9M	49.9M	48.9M	47.9M	47.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.2	21.9	19.3	20.7	28.9	24.1	17.6	21.7	25.9	26.7	31.6
P/S	1.38	1.31	1.41	1.61	1.85	2.07	1.86	2.51	3	2.69	3.11
P/B	7.36	7.45	7.57	8.99	10.4	12.5	10.4	12	13.9	11.7	14.2
EV/EBITDA	11.9	12.2	12.3	13.4	19.5	16.7	12.6	15.5	18.5	18.3	19
EV/Sales	1.58	1.5	1.56	1.77	2.02	2.26	2.02	2.64	3.13	2.82	3.24
Earnings yield	4.51%	4.57%	5.19%	4.83%	3.46%	4.14%	5.7%	4.6%	3.86%	3.74%	3.16%
FCF yield	5.27%	6.02%	5.16%	4.43%	4.24%	2.54%	3.8%	3.84%	3.05%	2.75%	2.11%
PEG	—	—	—	—	—	—	—	—	—	—	1.56

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	40.6%	39.3%	38.7%	38.3%	35.9%	36.2%	38.4%	39.4%	39.4%	39.1%	39.5%
Operating margin	11%	9.93%	10.3%	11%	8.64%	11.9%	14.5%	15.6%	15.4%	13.9%	16.1%
Net margin	6.24%	5.98%	7.33%	7.79%	6.4%	8.55%	10.6%	11.5%	11.6%	10.1%	9.92%
ROE	33.2%	34.1%	39.3%	43.4%	36.1%	51.6%	59%	55.3%	53.7%	43.7%	46.1%
ROA	11.1%	10.7%	14%	14.9%	12%	16.9%	21.3%	23.4%	22.5%	20.2%	19.9%
ROIC	17.8%	17.9%	23.4%	23.9%	19.7%	24.8%	32.5%	35.3%	34.7%	28.9%	30.1%
Return on tangible assets	18.3%	17.4%	20%	19.7%	14.9%	20.8%	25.3%	27.4%	26.1%	23.4%	23.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.85	2.13	2.37	2.12	2.72	2.63	2.48	2.88	2.49	2.83	2.81
Quick ratio	0.99	1.18	1.34	1.13	1.52	1.4	1.36	1.64	1.49	1.59	1.7
Debt / equity	1.18	1.28	1.06	1.08	1.25	1.28	0.99	0.8	0.86	0.69	0.62
Debt / assets	0.39	0.4	0.38	0.37	0.42	0.42	0.36	0.34	0.36	0.32	0.29
Net debt / EBITDA	1.47	1.57	1.18	1.22	1.66	1.43	0.97	0.75	0.74	0.82	0.73
Interest coverage	14.4	11.9	14.2	16.3	11.2	18.1	24.1	27.9	34.6	31	34.1
Effective tax rate	37.9%	33.4%	23.9%	26%	20.3%	25%	24.8%	23.9%	23%	25.6%	26.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	167.7	180.8	199.9	210	220.5	250.9	299.2	330.2	351.1	374.6	396.7
EPS (basic)	9.94	10.1	13.8	15.4	12.9	19.9	30.2	36.4	38.8	35.5	35.5
EPS (diluted)	9.87	10	13.7	15.3	12.8	19.8	30.1	36.2	38.7	35.4	39.3
Book value per share	31.5	31.7	37.3	37.7	39.1	41.6	53.7	69	75.7	86.5	87.7
FCF per share	12.2	14.2	14.6	15	17.3	13.1	21.2	31.8	32.1	27.8	32
Cash per share	4.54	5.67	9.58	6.58	10.9	4.64	6.39	13.2	21.2	12.2	12.5
Capex per share	4.7	4.11	4.26	4.04	3.68	4.91	5.03	—	—	14.3	14.1

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.8%	2.27%	2.13%	1.92%	1.67%	1.96%	1.68%	—	—	3.81%	3.53%
Capex / operating cash flow	31.3%	27%	26.8%	21.5%	24.1%	28.9%	20.2%	—	—	33.9%	30.6%
Payout ratio	47.9%	48.8%	38.4%	36.6%	44.8%	32%	22.9%	20.6%	21.2%	25.8%	23.6%
Dividend yield	2.16%	2.23%	1.99%	1.77%	1.55%	1.33%	1.31%	0.95%	0.82%	0.97%	0.79%

Yield

0.79%

trailing twelve months

Frequency

Quarterly

Last dividend

$2.49

ex-dividend Aug 10, 2026

Payout ratio

24%

of earnings

Dividend growth

19 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$2.49
May 11, 2026	$2.49
Feb 9, 2026	$2.26

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	—	—	—	—	—	—	—	$4.7B	$4.4B	$4.7B	$5B
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	274.1M	327M	538M	360M	585M	241M	325M	660M	1B	585M
Receivables	1.2B	1.3B	1.4B	1.4B	1.5B	1.8B	2.1B	2.2B	2.2B	2.3B
Inventory	1.4B	1.4B	1.5B	1.7B	1.7B	1.9B	2.3B	2.3B	2.3B	2.4B
Total current assets	3B	3.2B	3.6B	3.6B	3.9B	4B	5B	5.3B	5.7B	5.5B
Property, plant & equipment	107.7M	49M	14M	71M	275M	386M	365M	618M	575M	730M
Goodwill & intangibles	2.2B	2.2B	1.8B	1.5B	1.2B	1.2B	1.2B	1.2B	1.2B	1.3B
Total assets	5.7B	5.8B	5.9B	6B	6.3B	6.6B	7.6B	8.1B	8.8B	9B
Accounts payable	650.1M	731M	678M	719M	779M	816M	1B	954M	952M	963M
Short-term debt	406.1M	95M	130M	301M	65M	66M	103M	105M	577M	199M
Total current liabilities	1.6B	1.5B	1.5B	1.7B	1.4B	1.5B	2B	1.8B	2.3B	1.9B
Long-term debt	1.8B	2.2B	2.1B	1.9B	2.6B	2.7B	2.6B	2.6B	2.6B	2.7B
Total liabilities	3.8B	4B	3.8B	3.9B	4.2B	4.4B	4.9B	4.7B	5.1B	4.8B
Shareholders' equity	1.9B	1.8B	2.1B	2.1B	2.1B	2.2B	2.7B	3.4B	3.7B	4.1B
Total debt	2.2B	2.3B	2.2B	2.2B	2.6B	2.8B	2.7B	2.8B	3.2B	2.9B
Net debt	2B	2B	1.7B	1.9B	2B	2.5B	2.4B	2.1B	2.1B	2.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	601M	660M	804M	769M	1.4B	1B	666M	597M	535M	585M	695M	589M
Receivables	2.4B	2.2B	2.3B	2.3B	2.3B	2.2B	2.4B	2.5B	2.4B	2.3B	2.6B	2.8B
Inventory	2.2B	2.3B	2.2B	2.2B	2.2B	2.3B	2.3B	2.4B	2.3B	2.4B	2.4B	2.4B
Total current assets	5.4B	5.3B	5.5B	5.5B	6.2B	5.7B	5.5B	5.7B	5.5B	5.5B	5.9B	6B
Property, plant & equipment	545M	618M	599M	539M	568M	575M	577M	596M	712M	730M	758M	800M
Goodwill & intangibles	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.3B	1.3B	1.3B	1.3B	1.3B
Total assets	8.1B	8.1B	8.4B	8.4B	9.1B	8.8B	8.7B	8.9B	8.8B	9B	9.5B	9.6B
Accounts payable	1.1B	954M	1.1B	1.1B	1B	952M	1.1B	1.2B	1.1B	963M	1.2B	1.3B
Short-term debt	107M	105M	572M	577M	575M	577M	81M	83M	78M	199M	73M	74M
Total current liabilities	1.9B	1.8B	2.5B	2.4B	2.4B	2.3B	2B	2B	2B	1.9B	2.2B	2.1B
Long-term debt	2.6B	2.6B	2.1B	2.1B	2.6B	2.6B	2.6B	2.6B	2.6B	2.7B	2.7B	2.7B
Total liabilities	4.8B	4.7B	4.9B	4.8B	5.3B	5.1B	4.8B	4.9B	4.9B	4.8B	5.1B	5.1B
Shareholders' equity	3.4B	3.4B	3.5B	3.6B	3.9B	3.7B	3.8B	4.1B	4B	4.1B	4.3B	4.5B
Total debt	2.7B	2.8B	2.7B	2.7B	3.2B	3.2B	2.7B	2.7B	2.7B	2.9B	2.8B	2.8B
Net debt	2.1B	2.1B	1.9B	1.9B	1.8B	2.1B	2B	2.1B	2.2B	2.3B	2.1B	2.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	633M	623M	823M	895M	755M	1.1B	1.6B	1.9B	2B	1.8B
Depreciation & amortization	249M	264M	257M	229M	182M	187M	205M	214M	237M	254M
Stock-based compensation	36M	33M	47M	40M	46M	42M	48M	62M	62M	64M
Change in working capital	6M	-38M	-250M	-138M	-162M	-539M	-676M	-265M	-260M	-393M
Operating cash flow	908M	876.6M	892M	1B	816M	881M	1.3B	2B	2.1B	2B
Capital expenditure	-284M	-237M	-239M	-221M	-197M	-255M	-256M	—	—	-684M
Investing cash flow	-262M	-146M	-166M	-200M	-159M	-226M	-263M	23M	21M	-645M
Dividends paid	-303M	-304M	-316M	-328M	-338M	-357M	-370M	-392M	-421M	-467M
Share repurchases	-790M	-605M	-425M	-700M	-601M	-695M	-603M	-850M	-1.2B	-1B
Financing cash flow	-847M	-1.3B	-882M	-1.1B	-861M	-1.1B	-997M	-1.3B	-1.2B	-1.8B
Net change in cash	-201M	-596.4M	-156M	-257M	-204M	-432M	8M	692M	915M	-470M
Free cash flow	740M	820M	818M	821M	926M	682M	1.1B	1.6B	1.6B	1.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	493M	412M	497M	490M	505M	497M	500M	508M	321M	479M	581M	600M
Depreciation & amortization	55M	52M	56M	60M	59M	62M	61M	64M	65M	64M	62M	66M
Stock-based compensation	18M	13M	11M	23M	14M	14M	12M	23M	14M	15M	14M	25M
Change in working capital	-154M	39M	192M	-265M	-72M	-115M	111M	-218M	-128M	-158M	103M	-341M
Operating cash flow	433M	487M	775M	345M	535M	449M	700M	377M	597M	395M	739M	444M
Capital expenditure	—	—	—	—	—	—	—	-175M	-258M	-126M	-170M	-111M
Investing cash flow	9M	12M	1M	17M	3M	0	—	-175M	-260M	-102M	-178M	-116M
Dividends paid	-106M	-92M	-105M	-101M	-115M	-100M	-115M	-110M	-133M	-109M	-108M	-145M
Share repurchases	-193M	-344M	-268M	-244M	-227M	-462M	-281M	-226M	-291M	-247M	-237M	-224M
Financing cash flow	-319M	-444M	-400M	-373M	132M	-569M	-900M	-303M	-398M	-364M	-577M	-430M
Net change in cash	123M	55M	376M	-11M	670M	-120M	-200M	-101M	-61M	-71M	-16M	-102M
Free cash flow	398M	477M	542M	335M	523M	170M	521M	202M	339M	269M	569M	333M

Date	Ratio
Jun 15, 1998	2:1
Jun 10, 1991	2:1
Jun 10, 1985	2:1

W.W. Grainger, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history