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W.W. Grainger, Inc.

GWW Industrials Industrial Distribution

W.W. Grainger, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.9 billion, up 4.51% from fiscal 2024.

Revenue
+11.3%
EPS
+113.8%
Free cash flow
+61.1%
Total debt
+13.3%

Quarter to September 2026, against a year earlier

1,451.80 37.59 −2.52%
Market cap
$68.4B
P/E
31.4×
Fwd P/E
29.2×
Dividend yield
0.65%
F-score
6/9
Altman Z
11.75
Beneish M
−2.51
Dividend safety
96/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • High-Touch Solutions N.A.
  • Endless Assortment
  • Other, not broken out

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 26.00
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 — — 1 1 3 — — — — — —
Insider Ownership 6.04%

Capital & Financial Ratios $m

Size
Market Cap 68,360.00
Revenue ttm 19,369.00
Net income ttm 2,276.00
Free cash flow ttm 1,746.00
Net debt Q 1,917.00
Valuation
P/E 31.39
Forward P/E 29.20
Price / sales 3.52
Forward P/S Powerpack
Price / FCF 39.08
Price / book 15.12 (above 6: high)
Financial health
Current ratio Q 2.61 (at or above 1.5: strong)
Debt / equity Q 0.57
Interest coverage Q 39.43
Growth
Revenue growth Q +11.25% (above 0%: growing)
Operating income growth Q +62.04% (above 0%: growing)
EPS, this year +20.36% (at or above 15%: strong)
EPS, next year A +9.63%
Revenue, next year A +9.63%
EPS, past 5 yrs +22.52% (at or above 15%: strong)
EPS, next 5 yrs A +12.85%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.6×, against a ten-year median of 2.0×; over the ten years it ranged from 1.1× in 2017 to 3.6× in 2026.
P/E against its own 10 years 91.05%
10-year low 10-year high
P/S against its own 10 years 99.93%
10-year low 10-year high
P/B against its own 10 years 99.60%
10-year low 10-year high
EV/Sales against its own 10 years 99.93%
10-year low 10-year high
EV/FCF against its own 10 years 93.36%
10-year low 10-year high

Dividends raised every year since 2018

Yield
0.65%
Annual rate
9.50
Payout ratio
20.6%
Growth, 2018–26
+7.74%/yr
  1. 5.36 ’18
  2. 5.68 ’19 +6
  3. 5.94 ’20 +5
  4. 6.39 ’21 +8
  5. 6.78 ’22 +6
  6. 7.30 ’23 +8
  7. 8.01 ’24 +10
  8. 8.83 ’25 +10
  9. 9.73 ’26 +10
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 660 1,036 585 768
Receivables 2,192 2,232 2,329 2,877
Inventory 2,266 2,306 2,394 2,303
Other — — — —
5,274 5,737 5,484 6,203
2023 2024 2025 Q'26
Payables 954 952 963 1,184
ST’ Debt 34 499 126 227
Other — — — —
1,831 2,305 1,940 2,376

Compound Annual Growth %

10y 5y 3y
Sales 6.05% 8.75% 5.62%
Cash Flow 6.88% 12.40% 14.77%
Earnings 8.29% 19.67% 3.31%
Book Value 5.82% 14.62% 14.83%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 11.28 Actual 12.01

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 9.93 10.21 Beat by 0.28
Q4 FY25 9.43 9.44 Beat by 0.01
Q1 FY26 10.20 11.65 Beat by 1.45
Q2 FY26 11.28 12.01 Beat by 0.73
Q3 FY26 11.64 — Reports 4 November 2026

EPS $

Mar Jun Sep Dec Year
’26 11.65 12.01 13.08 — —
’25 9.86 9.97 6.12 9.44 35.40
’24 9.62 9.51 9.87 9.71 38.71
’23 9.61 9.28 9.43 7.89 36.23
’22 7.07 7.19 8.27 7.54 30.06
’21 4.48 4.27 5.65 5.44 19.84
’20 3.19 2.10 4.41 3.12 12.82
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4,742 5,021 5,181 — —
’25 4,306 4,554 4,657 4,425 17,942
’24 4,235 4,312 4,388 4,233 17,168
’23 4,091 4,182 4,208 3,997 16,478
’22 3,647 3,837 3,942 3,802 15,228
’21 3,084 3,207 3,372 3,359 13,022
’20 3,001 2,837 3,018 2,941 11,797
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 739 444 661 — —
’25 646 377 597 395 2,015
’24 661 411 611 428 2,111
’23 454 450 523 604 2,031
’22 343 250 380 360 1,333
’21 294 269 161 213 937
’20 244 232 311 336 1,123
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 569 333 546 — —
’25 521 206 339 298 1,364
’24 543 335 524 171 1,573
’23 358 355 407 487 1,607
’22 286 146 340 333 1,105
’21 236 197 111 167 711
’20 194 202 261 289 946
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 15.6% a year for ten years. It grew 8.2% a year over the last ten.

Implied
15.6%
10 years, reported
8.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 10,137 10,425 11,221 11,486 11,797 13,022 15,228 16,478 17,168 17,942 19,369 +6.5% 19,669 21,077 22,439 +7.7%
Gross margin, % 40.59 39.31 38.75 38.28 35.92 36.25 38.41 39.42 39.36 39.06 39.43 (1.5) pt
EBT 1,019 936 1,081 1,209 947 1,485 2,146 2,500 2,584 2,430 3,007 +10.1%
EBT margin, % 10.05 8.98 9.63 10.53 8.03 11.40 14.09 15.17 15.05 13.54 15.52 +3.5 pt
Net income 633 623 823 895 755 1,114 1,613 1,903 1,989 1,808 2,276 +12.4%
Per share, $
Per share, $ Revenue 167.83 180.68 200.02 209.98 220.50 250.91 299.17 330.22 351.08 374.57 412.11 +9.3%
Earnings 9.94 10.07 13.82 15.39 12.88 19.94 30.22 36.39 38.84 35.47 46.25 +15.2%
Cash flow 16.95 18.32 18.84 19.05 20.99 18.05 26.19 40.70 43.17 42.07 47.64 +10.6%
Capex (3.79) (2.03) (4.26) (3.73) (3.31) (4.35) (4.48) (8.50) (11.00) (13.59) (10.49) +15.2%
Free cash flow 13.16 16.29 14.58 15.32 17.68 13.70 21.71 32.20 32.17 28.48 37.15 +9.0%
Book value 31.55 31.68 37.31 37.66 39.12 41.62 53.73 68.96 75.73 86.45 100.81 +11.9%
Shares, m 60 58 56 55 54 52 51 50 49 48 47 (2.5%)
Valuation, ×
Valuation, × P/E 23.68 23.38 20.42 22.05 31.70 25.95 18.40 22.35 27.15 28.46 31.39 24.4
P/S 1.40 1.30 1.41 1.61 1.85 2.07 1.86 2.46 3.00 2.69 3.52 2.0
P/B 7.43 7.44 7.57 8.99 10.44 12.45 10.35 11.79 13.92 11.67 15.12 10.2
EV/Sales 1.55 1.49 1.56 1.77 2.01 2.23 1.99 2.56 3.10 2.80 3.62 2.1
EV/FCF 19.81 16.55 21.36 24.24 25.01 40.91 27.41 26.27 33.87 36.83 40.18 27.2
Cash, $m
Cash, $m Operating cash flow 1,024 1,057 1,057 1,042 1,123 937 1,333 2,031 2,111 2,015 2,239 +7.8%
Capex (229) (117) (239) (204) (177) (226) (228) (424) (538) (651) (493) +12.3%
Free cash flow 795 940 818 838 946 711 1,105 1,607 1,573 1,364 1,746 +6.2%
Balance, $m
Balance, $m Working capital 1,391 1,699 2,056 1,877 2,478 2,483 2,967 3,443 3,432 3,544 3,827 +10.9%
Net debt 1,587 1,960 1,633 1,800 1,812 2,187 1,994 1,640 1,742 1,903 1,917 +2.0%
Shareholders’ equity 1,906 1,828 2,093 2,060 2,093 2,160 2,735 3,441 3,703 4,141 4,738 +9.0%
Returns, %
Returns, % ROA 10.41 10.19 13.39 14.30 11.30 16.19 21.82 23.25 22.49 19.18 22.80 +8.8 pt
ROIC 19.92 17.08 19.42 20.43 16.31 22.24 29.27 31.55 30.27 25.80 28.76 +5.9 pt
ROE 28.23 31.39 39.89 40.89 33.47 49.05 63.21 59.23 53.44 43.50 49.73 +15.3 pt
People
People Employees 25,600 25,700 24,600 25,300 23,100 24,200 26,000 26,000 26,000 25,000 — (0.3%)
Revenue/emp, $m 0.40 0.41 0.46 0.45 0.51 0.54 0.59 0.63 0.66 0.72 — +6.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

W.W. Grainger distributes maintenance, repair and operating products: the supplies organizations need to keep facilities and equipment working. Its range includes safety equipment, pumps, plumbing products, cleaning supplies, storage equipment and tools. It also offers technical support and inventory management services. Founded in 1927, Grainger is headquartered in Lake Forest. D.G. Macpherson is chairman and chief executive officer.

Grainger serves businesses, government entities and other institutions. Its High-Touch Solutions North America business works mainly with mid-size and large customers that have complex purchasing needs. Sales and service representatives help customers select products, while Grainger’s KeepStock service helps manage supplies at customer sites. Distribution centers ship orders directly, and branches provide pickup and product support.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
High-Touch Solutions N.A. 13,993 77.99%
Endless Assortment 3,625 20.20%
Other, not broken out 324 1.81%
Gross margin 39.06%
Operating margin 13.91%
Pre-tax margin 13.54%

Revenue by segment since 2009

W.W. Grainger, Inc. vs peers in Industrial Distribution (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GWW W.W. Grainger, Inc. $68.4B 31.4× 29.2× +11.25% (above 0%: growing) +113.81% (above 0%: growing) +61.06% (above 0%: growing) 38.81% 15.98%
FAST Fastenal Company $60.7B 42.6× 40.8× +15.47% (above 0%: growing) +20.69% (above 0%: growing) +5.27% (above 0%: growing) 44.85% 21.55% Compare
FERG Ferguson plc $45.6B 19.6× 21.5× +4.64% (above 0%: growing) +7.17% (above 0%: growing) −143.52% (below 0%: shrinking) 30.99% 10.20% Compare
WSO.B Watsco, Inc. $16.0B 27.2× — +2.06% (above 0%: growing) −11.50% (below 0%: shrinking) +17.57% (above 0%: growing) 27.50% 11.32% Compare
WCC WESCO International, Inc. $13.9B 17.9× 19.2× +16.57% (above 0%: growing) +45.47% (above 0%: growing) +271.85% (above 0%: growing) 21.67% 6.24% Compare
WSO Watsco, Inc. $13.0B 27.0× 26.4× +7.42% (above 0%: growing) −11.50% (below 0%: shrinking) −8.87% (below 0%: shrinking) 26.41% 10.14% Compare
QXO QXO, Inc. $12.1B — (loss-making) — (loss-making) +70.30% (above 0%: growing) n/m −27.62% (below 0%: shrinking) 24.74% (1.29%) Compare
AIT Applied Industrial Technologies, Inc. $10.3B 24.7× 24.2× +7.64% (above 0%: growing) +12.65% (above 0%: growing) −34.44% (below 0%: shrinking) 30.38% 11.12% Compare
CNM Core & Main, Inc. $8.9B 19.3× 16.8× +2.48% (above 0%: growing) +8.45% (above 0%: growing) +83.33% (above 0%: growing) 26.71% 10.58% Compare
Median of peers $13.5B 24.7× 22.9× +7.53% +8.45% −1.80% 27.11% 10.39%

All 25 Industrial Distribution stocks →

From the latest earnings call

Updated

  • CEO D.G. Macpherson said demand improved across major end markets and that a technology acquisition is being piloted to help high-touch customers track inventory.
  • Interim CFO Laurie Thomson said September price increases addressed most known cost increases, but continued diesel fluctuations would factor into pricing decisions for early next year.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 74.72%
Held by the ten largest 39.59%
Holder Shares Stake Change
Vanguard 5.64m 11.98% −2.68k
BlackRock 4.63m 9.84% −8.46k
State Street 2.01m 4.27% +14.90k
Geode Capital Management 1.37m 2.91% +139.15k
Franklin Templeton 1.30m 2.76% −87.67k
Wells Fargo 892.08k 1.89% −30.41k
Wellington Management 775.64k 1.65% −257.21k
UBS 727.64k 1.54% −83.87k
T. Rowe Price 694.20k 1.47% −211.23k
Northern Trust 605.02k 1.28% −14.33k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 10 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 11.61m 9.11m 261.00
2024 10.88m 15.76m 270.00
2023 10.16m 23.00m 211.00
2022 9.97m 14.29m 140.00
2021 9.02m 16.30m 129.00

Ownership

Directors and executive officers, together 6.30%
The Vanguard Group 11.71%
BlackRock, Inc. 8.10%
Susan Slavik Williams 5.90%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

W.W. Grainger, Inc. (GWW) Latest News

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GWW metrics, ten years each

stockrow.com/GWW · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com