NYSE : GWW
W.W. Grainger, Inc. — Financial statements
Industrials · Industrial Distribution · United States
Last price 1371.86 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 64.62B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
W.W. Grainger, Inc. (GWW) reported revenue of 18.84B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 18.84B | 17.94B | 17.17B | 16.48B | 15.23B | 13.02B |
| Cost of Revenue | 11.42B | 10.93B | 10.41B | 9.98B | 9.38B | 8.30B |
| Gross Profit | 7.42B | 7.01B | 6.76B | 6.50B | 5.85B | 4.72B |
| Selling, General & Admin | 4.38B | 4.22B | 4.02B | 3.85B | 3.55B | 3.09B |
| Amortization of Goodwill & Intangibles | 81.00M | 81.00M | 70.00M | 64.00M | 61.00M | 63.00M |
| Operating Expenses | 4.46B | 4.30B | 4.09B | 3.91B | 3.61B | 3.15B |
| Operating Income | 2.96B | 2.71B | 2.67B | 2.58B | 2.24B | 1.57B |
| Interest Expense | -81.00M | -81.00M | -77.00M | -93.00M | -93.00M | -87.00M |
| Other Non Operating Income (Expenses) | 3.00M | -2.00M | 5.00M | 10.00M | 1.00M | 3.00M |
| EBT Excluding Unusual Items | 2.88B | 2.63B | 2.60B | 2.50B | 2.15B | 1.49B |
| Merger & Restructuring Charges | -10.00M | -10.00M | -16.00M | |||
| Gain (Loss) on Sale of Assets | -186.00M | -186.00M | ||||
| Pretax Income | 2.69B | 2.43B | 2.58B | 2.50B | 2.15B | 1.49B |
| Income Tax Expense | 704.00M | 622.00M | 595.00M | 597.00M | 533.00M | 371.00M |
| Earnings From Continuing Operations | 1.98B | 1.81B | 1.99B | 1.90B | 1.61B | 1.11B |
| Minority Interest in Earnings | -111.00M | -102.00M | -80.00M | -74.00M | -66.00M | -71.00M |
| Net Income | 1.87B | 1.71B | 1.91B | 1.83B | 1.55B | 1.04B |
| Net Income to Common | 1.87B | 1.71B | 1.91B | 1.83B | 1.55B | 1.04B |
| Shares Outstanding (Basic) | 47.50M | 47.90M | 48.90M | 49.90M | 50.90M | 51.90M |
| Shares Outstanding (Diluted) | 47.55M | 48.00M | 49.00M | 50.10M | 51.10M | 52.20M |
| EPS (Basic) | 39.37 | 35.62 | 39.04 | 36.65 | 30.39 | 20.10 |
| EPS (Diluted) | 39.17 | 35.40 | 38.71 | 36.23 | 30.06 | 19.84 |
| Free Cash Flow | 1.51B | 1.33B | 1.57B | 1.59B | 1.08B | 682.00M |
| Free Cash Flow Per Share | 31.76 | 27.73 | 32.04 | 31.66 | 21.08 | 13.06 |
| Dividend Per Share | 9.27 | 8.83 | 8.01 | 7.30 | 6.78 | 6.39 |
| Gross Margin | 39.40% | 39.06% | 39.36% | 39.42% | 38.41% | 36.25% |
| Operating Margin | 15.70% | 15.10% | 15.56% | 15.68% | 14.70% | 12.05% |
| Profit Margin | 9.92% | 9.51% | 11.12% | 11.10% | 10.16% | 8.01% |
| Free Cash Flow Margin | 8.01% | 7.42% | 9.14% | 9.62% | 7.07% | 5.24% |
| EBITDA | 3.22B | 2.96B | 2.91B | 2.80B | 2.44B | 1.76B |
| EBITDA Margin | 17.07% | 16.51% | 16.94% | 16.97% | 16.04% | 13.48% |
| D&A For EBITDA | 257.00M | 254.00M | 237.00M | 214.00M | 205.00M | 187.00M |
| EBIT | 2.96B | 2.71B | 2.67B | 2.58B | 2.24B | 1.57B |
| EBIT Margin | 15.70% | 15.10% | 15.56% | 15.68% | 14.70% | 12.05% |
| Effective Tax Rate | 26.22% | 25.60% | 23.03% | 23.88% | 24.84% | 24.98% |
| Advertising Expenses | 813.00M | 750.00M | 638.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 589.00M | 585.00M | 1.04B | 660.00M | 325.00M | 241.00M |
| Cash & Short-Term Investments | 589.00M | 585.00M | 1.04B | 660.00M | 325.00M | 241.00M |
| Receivables | 2.83B | 2.33B | 2.23B | 2.19B | 2.13B | 1.75B |
| Inventory | 2.37B | 2.39B | 2.31B | 2.27B | 2.25B | 1.87B |
| Prepaid Expenses | 213.00M | 176.00M | 163.00M | 156.00M | 266.00M | 146.00M |
| Total Current Assets | 6.00B | 5.48B | 5.74B | 5.27B | 4.98B | 4.01B |
| Property, Plant & Equipment | 2.76B | 2.61B | 2.30B | 2.09B | 1.83B | 1.82B |
| Long-Term Investments | 1.00M | |||||
| Goodwill | 354.00M | 360.00M | 355.00M | 370.00M | 371.00M | 384.00M |
| Other Intangible Assets | 272.00M | 265.00M | 243.00M | 234.00M | 232.00M | 238.00M |
| Long-Term Deferred Tax Assets | 14.00M | 15.00M | 10.00M | 12.00M | 14.00M | |
| Other Long-Term Assets | 233.00M | 226.00M | 181.00M | 172.00M | 168.00M | 127.00M |
| Total Assets | 9.62B | 8.96B | 8.83B | 8.15B | 7.59B | 6.59B |
| Accounts Payable | 1.28B | 963.00M | 952.00M | 954.00M | 1.05B | 816.00M |
| Accrued Expenses | 736.00M | 729.00M | 731.00M | 724.00M | 808.00M | 609.00M |
| Current Portion of Long-Term Debt | 2.00M | 126.00M | 499.00M | 34.00M | 35.00M | |
| Current Portion of Leases | 72.00M | 73.00M | 78.00M | 71.00M | 68.00M | 66.00M |
| Current Income Taxes Payable | 48.00M | 49.00M | 45.00M | 48.00M | 52.00M | 37.00M |
| Total Current Liabilities | 2.14B | 1.94B | 2.31B | 1.83B | 2.01B | 1.53B |
| Long-Term Debt | 2.41B | 2.36B | 2.28B | 2.27B | 2.32B | 2.36B |
| Long-Term Leases | 317.00M | 301.00M | 327.00M | 381.00M | 318.00M | 334.00M |
| Long-Term Deferred Tax Liabilities | 149.00M | 97.00M | 77.00M | 57.00M | 76.00M | 80.00M |
| Other Long-Term Liabilities | 95.00M | 121.00M | 138.00M | 171.00M | 131.00M | 128.00M |
| Total Liabilities | 5.11B | 4.82B | 5.13B | 4.71B | 4.85B | 4.43B |
| Common Stock | 55.00M | 55.00M | 55.00M | 55.00M | 55.00M | 55.00M |
| Additional Paid-In Capital | 1.45B | 1.45B | 1.40B | 1.35B | 1.31B | 1.27B |
| Retained Earnings | 15.86B | 14.96B | 13.68B | 12.16B | 10.70B | 9.50B |
| Treasury Stock | -13.03B | -12.56B | -11.50B | -10.29B | -9.45B | -8.86B |
| Comprehensive Income & Other | -198.00M | -165.00M | -274.00M | -172.00M | -180.00M | -96.00M |
| Total Common Equity | 4.13B | 3.74B | 3.36B | 3.12B | 2.44B | 1.87B |
| Minority Interest | 382.00M | 405.00M | 345.00M | 326.00M | 295.00M | 286.00M |
| Shareholders' Equity | 4.51B | 4.14B | 3.70B | 3.44B | 2.73B | 2.16B |
| Total Liabilities & Equity | 9.62B | 8.96B | 8.83B | 8.15B | 7.59B | 6.59B |
| Total Debt | 2.80B | 2.86B | 3.18B | 2.75B | 2.74B | 2.76B |
| Net Cash (Debt) | -2.21B | -2.28B | -2.15B | -2.09B | -2.41B | -2.52B |
| Net Cash Per Share | -46.44 | -47.44 | -43.82 | -41.76 | -47.24 | -48.30 |
| Filing Date Shares Outstanding | 47.10M | 47.37M | 48.22M | 49.17M | 50.20M | 51.11M |
| Total Common Shares Outstanding | 47.10M | 47.42M | 48.33M | 49.32M | 50.26M | 51.22M |
| Working Capital | 3.86B | 3.54B | 3.43B | 3.44B | 2.97B | 2.48B |
| Book Value Per Share | 87.71 | 78.79 | 69.48 | 63.16 | 48.55 | 36.59 |
| Tangible Book Value | 3.50B | 3.11B | 2.76B | 2.51B | 1.84B | 1.25B |
| Tangible Book Value Per Share | 74.42 | 65.61 | 57.10 | 50.92 | 36.55 | 24.44 |
| Land | 551.00M | 551.00M | 415.00M | 397.00M | 318.00M | 329.00M |
| Buildings | 1.96B | 1.88B | 1.72B | 1.47B | 1.46B | 1.43B |
| Machinery | 2.17B | 2.07B | 1.95B | 1.85B | 1.66B | 1.57B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.87B | 1.71B | 1.91B | 1.83B | 1.55B | 1.04B |
| Depreciation & Amortization | 257.00M | 254.00M | 237.00M | 214.00M | 205.00M | 187.00M |
| Loss (Gain) From Sale of Assets | 186.00M | 186.00M | 17.00M | -14.00M | -6.00M | |
| Asset Writedown & Restructuring Costs | 10.00M | 10.00M | ||||
| Stock-Based Compensation | 68.00M | 64.00M | 62.00M | 62.00M | 48.00M | 42.00M |
| Provision & Write-off of Bad Debts | 23.00M | 23.00M | 23.00M | 23.00M | 19.00M | 18.00M |
| Other Operating Activities | 238.00M | 200.00M | 156.00M | 141.00M | 144.00M | 148.00M |
| Change in Accounts Receivable | -488.00M | -190.00M | -110.00M | -98.00M | -436.00M | -324.00M |
| Change in Inventory | -114.00M | -147.00M | -77.00M | -16.00M | -412.00M | -152.00M |
| Change in Accounts Payable | 124.00M | 43.00M | 20.00M | -65.00M | 225.00M | 54.00M |
| Change in Income Taxes | 29.00M | -4.00M | -3.00M | -4.00M | 42.00M | -26.00M |
| Change in Other Net Operating Assets | -28.00M | -130.00M | -106.00M | -72.00M | -35.00M | -47.00M |
| Operating Cash Flow | 2.17B | 2.02B | 2.11B | 2.03B | 1.33B | 937.00M |
| Capital Expenditures | -665.00M | -684.00M | -541.00M | -445.00M | -256.00M | -255.00M |
| Sale of Property, Plant & Equipment | 29.00M | 33.00M | 3.00M | 21.00M | 28.00M | 29.00M |
| Other Investing Activities | -20.00M | 6.00M | 18.00M | 2.00M | -35.00M | |
| Investing Cash Flow | -656.00M | -645.00M | -520.00M | -422.00M | -263.00M | -226.00M |
| Short-Term Debt Issued | 125.00M | |||||
| Long-Term Debt Issued | 91.00M | 503.00M | 7.00M | 16.00M | ||
| Total Debt Issued | 205.00M | 216.00M | 503.00M | 7.00M | 16.00M | |
| Long-Term Debt Repaid | -506.00M | -39.00M | -37.00M | -15.00M | -8.00M | |
| Total Debt Repaid | -132.00M | -506.00M | -39.00M | -37.00M | -15.00M | -8.00M |
| Net Debt Issued (Repaid) | 73.00M | -290.00M | 464.00M | -30.00M | 1.00M | -8.00M |
| Issuance of Common Stock | 21.00M | 15.00M | 30.00M | 34.00M | 26.00M | 48.00M |
| Repurchase of Common Stock | -1.03B | -1.08B | -1.25B | -887.00M | -626.00M | -725.00M |
| Common Dividends Paid | -441.00M | -425.00M | -393.00M | -366.00M | -347.00M | -334.00M |
| Other Financing Activities | -116.00M | -44.00M | -30.00M | -29.00M | -26.00M | -20.00M |
| Financing Cash Flow | -1.50B | -1.82B | -1.18B | -1.28B | -972.00M | -1.04B |
| Foreign Exchange Rate Adjustments | -29.00M | 4.00M | -35.00M | 4.00M | -14.00M | -16.00M |
| Net Cash Flow | -8.00M | -451.00M | 376.00M | 335.00M | 84.00M | -344.00M |
| Free Cash Flow | 1.51B | 1.33B | 1.57B | 1.59B | 1.08B | 682.00M |
| Free Cash Flow Margin | 8.01% | 7.42% | 9.14% | 9.62% | 7.07% | 5.24% |
| Free Cash Flow Per Share | 31.76 | 27.73 | 32.04 | 31.66 | 21.08 | 13.06 |
| Levered Free Cash Flow | 1.25B | 1.09B | 1.29B | 1.24B | 900.62M | 550.25M |
| Unlevered Free Cash Flow | 1.30B | 1.14B | 1.34B | 1.30B | 958.75M | 604.62M |
| Cash Interest Paid | 106.00M | 106.00M | 111.00M | 109.00M | 91.00M | 87.00M |
| Cash Income Tax Paid | 610.00M | 610.00M | 606.00M | 615.00M | 479.00M | 377.00M |
| Change in Working Capital | -477.00M | -428.00M | -276.00M | -255.00M | -616.00M | -495.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 64.92B | 47.98B | 51.33B | 41.13B | 28.11B | 26.70B |
| Enterprise Value | 67.13B | 50.56B | 53.45B | 43.57B | 30.76B | 29.03B |
| Last Close Price | 1,359.17 | 1,003.15 | 1,038.59 | 810.09 | 538.14 | 494.86 |
| PE Ratio | 35.19 | 28.12 | 26.89 | 22.49 | 18.17 | 25.60 |
| Forward PE | 28.58 | 23.76 | 25.31 | 21.94 | 18.43 | 22.75 |
| PS Ratio | 3.43 | 2.67 | 2.99 | 2.50 | 1.85 | 2.05 |
| PB Ratio | 15.50 | 11.59 | 13.86 | 11.95 | 10.28 | 12.36 |
| P/TBV Ratio | 18.44 | 15.42 | 18.60 | 16.38 | 15.30 | 21.33 |
| P/FCF Ratio | 42.81 | 36.05 | 32.70 | 25.93 | 26.10 | 39.15 |
| P/OCF Ratio | 29.72 | 23.81 | 24.32 | 20.25 | 21.09 | 28.50 |
| PEG Ratio | 2.30 | 2.74 | 2.75 | 1.69 | 1.42 | 1.69 |
| EV/Sales Ratio | 3.55 | 2.82 | 3.11 | 2.64 | 2.02 | 2.23 |
| EV/EBITDA Ratio | 20.79 | 17.07 | 18.37 | 15.58 | 12.59 | 16.53 |
| EV/EBIT Ratio | 22.59 | 18.66 | 20.00 | 16.87 | 13.75 | 18.50 |
| EV/FCF Ratio | 44.27 | 37.99 | 34.05 | 27.47 | 28.56 | 42.57 |
| Debt / Equity Ratio | 0.62 | 0.69 | 0.86 | 0.80 | 1.00 | 1.28 |
| Debt / EBITDA Ratio | 0.84 | 0.93 | 1.06 | 0.95 | 1.08 | 1.51 |
| Debt / FCF Ratio | 1.85 | 2.15 | 2.03 | 1.74 | 2.54 | 4.05 |
| Net Debt / Equity Ratio | 0.49 | 0.55 | 0.58 | 0.61 | 0.88 | 1.17 |
| Net Debt / EBITDA Ratio | 0.69 | 0.77 | 0.74 | 0.75 | 0.99 | 1.44 |
| Net Debt / FCF Ratio | 1.46 | 1.71 | 1.37 | 1.32 | 2.24 | 3.70 |
| Asset Turnover | 2.03 | 2.02 | 2.02 | 2.09 | 2.15 | 2.02 |
| Inventory Turnover | 4.83 | 4.65 | 4.55 | 4.42 | 4.55 | 4.61 |
| Quick Ratio | 1.60 | 1.50 | 1.42 | 1.56 | 1.22 | 1.31 |
| Current Ratio | 2.81 | 2.83 | 2.49 | 2.88 | 2.48 | 2.62 |
| Return on Equity (ROE) | 46.09% | 46.10% | 55.68% | 61.63% | 65.90% | 52.39% |
| Return on Assets (ROA) | 19.93% | 19.03% | 19.68% | 20.52% | 19.73% | 15.22% |
| Return on Invested Capital (ROIC) | 33.20% | 32.86% | 36.14% | 36.81% | 34.23% | 26.73% |
| Return on Capital Employed (ROCE) | 39.60% | 38.60% | 41.00% | 40.90% | 40.10% | 31.00% |
| Earnings Yield | 2.84% | 3.56% | 3.72% | 4.45% | 5.50% | 3.91% |
| FCF Yield | 2.34% | 2.77% | 3.06% | 3.86% | 3.83% | 2.55% |
| Dividend Yield | 0.72% | 0.87% | 0.75% | 0.88% | 1.21% | 1.23% |
| Payout Ratio | 25.43% | 24.91% | 20.59% | 20.01% | 22.43% | 32.02% |
| Buyback Yield / Dilution | 1.86% | 2.04% | 2.20% | 1.96% | 2.11% | 2.79% |
| Total Shareholder Return | 2.58% | 2.91% | 2.95% | 2.83% | 3.32% | 4.02% |