W.W. Grainger (GWW) Financials

$1,013.48 -3.57 (-0.35%)

Closing price 08/28/2025 03:59 PM Eastern

Extended Trading

$1,014.50 +1.02 (+0.10%)

As of 07:12 AM Eastern

Annual Income Statements for W.W. Grainger

This table shows W.W. Grainger's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	802	769	606	586	782	849	695	1,043	1,547	1,829	1,909
Consolidated Net Income / (Loss)	812	785	633	623	823	895	755	1,114	1,613	1,903	1,989
Net Income / (Loss) Continuing Operations	812	785	633	623	823	895	755	1,114	1,613	1,903	1,989
Total Pre-Tax Income	1,334	1,251	1,019	936	1,081	1,209	947	1,485	2,146	2,500	2,584
Total Operating Income	1,347	1,300	1,113	1,035	1,158	1,262	1,019	1,547	2,215	2,565	2,637
Total Gross Profit	4,314	4,231	4,115	4,098	4,348	4,397	4,238	4,720	5,849	6,496	6,758
Total Revenue	9,965	9,973	10,137	10,425	11,221	11,486	11,797	13,022	15,228	16,478	17,168
Operating Revenue	9,965	9,973	10,137	10,425	11,221	11,486	11,797	13,022	15,228	16,478	17,168
Total Cost of Revenue	5,651	5,742	6,022	6,327	6,873	7,089	7,559	8,302	9,379	9,982	10,410
Operating Cost of Revenue	5,651	5,742	6,022	6,327	6,873	7,089	7,559	8,302	9,379	9,982	10,410
Total Operating Expenses	2,967	2,931	3,002	3,063	3,190	3,135	3,219	3,173	3,634	3,931	4,121
Selling, General & Admin Expense	2,967	2,931	3,002	3,063	3,190	3,135	3,219	3,173	3,634	3,931	4,121
Total Other Income / (Expense), net	-13	-50	-94	-99	-77	-53	-72	-62	-69	-65	-53
Interest Expense	10	34	76	86	82	79	93	87	93	93	77
Other Income / (Expense), net	-4.71	-5.47	12	-13	5.00	26	21	25	24	28	24
Income Tax Expense	522	466	386	313	258	314	192	371	533	597	595
Net Income / (Loss) Attributable to Noncontrolling Interest	11	16	27	37	41	46	60	71	66	74	80
Basic Earnings per Share	$11.59	$11.69	$9.94	$10.07	$13.82	$15.39	$12.88	$19.94	$30.22	$36.39	$38.84
Weighted Average Basic Shares Outstanding	68.33M	65.16M	60.43M	57.70M	56.10M	54.70M	53.50M	51.90M	50.90M	49.90M	48.90M
Diluted Earnings per Share	$11.45	$11.58	$9.87	$10.02	$13.73	$15.32	$12.82	$19.84	$30.06	$36.23	$38.71
Weighted Average Diluted Shares Outstanding	69.21M	65.77M	60.84M	58M	56.50M	54.90M	53.70M	52.20M	51.10M	50.10M	49M
Weighted Average Basic & Diluted Shares Outstanding	67.44M	61.73M	58.84M	58.20M	56.60M	53.66M	52.38M	51.11M	50.20M	49.17M	48.22M
Cash Dividends to Common per Share	-	-	-	$5.06	$5.36	$5.68	$5.94	$6.39	$6.78	$7.30	$8.01

This table shows W.W. Grainger's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	384	488	470	476	395	478	470	486	475	479	482
Consolidated Net Income / (Loss)	397	508	490	493	412	497	490	505	497	500	508
Net Income / (Loss) Continuing Operations	397	508	490	493	412	497	490	505	497	500	508
Total Pre-Tax Income	525	662	645	652	541	655	636	671	622	657	661
Total Operating Income	544	680	661	667	557	669	649	686	633	672	678
Total Gross Profit	1,506	1,634	1,644	1,655	1,563	1,668	1,694	1,720	1,676	1,710	1,755
Total Revenue	3,802	4,091	4,182	4,208	3,997	4,235	4,312	4,388	4,233	4,306	4,554
Operating Revenue	3,802	4,091	4,182	4,208	3,997	4,235	4,312	4,388	4,233	4,306	4,554
Total Cost of Revenue	2,296	2,457	2,538	2,553	2,434	2,567	2,618	2,668	2,557	2,596	2,799
Operating Cost of Revenue	2,296	2,457	2,538	2,553	2,434	2,567	2,618	2,668	2,557	2,596	2,799
Total Operating Expenses	962	954	983	988	1,006	999	1,045	1,034	1,043	1,038	1,077
Selling, General & Admin Expense	962	954	983	988	1,006	999	1,045	1,034	1,043	1,038	1,077
Total Other Income / (Expense), net	-19	-18	-16	-15	-16	-14	-13	-15	-11	-15	-17
Interest Expense	23	24	24	22	23	21	20	19	17	21	20
Other Income / (Expense), net	4.00	6.00	8.00	7.00	7.00	7.00	7.00	4.00	6.00	6.00	3.00
Income Tax Expense	128	154	155	159	129	158	146	166	125	157	153
Net Income / (Loss) Attributable to Noncontrolling Interest	13	20	20	17	17	19	20	19	22	21	26
Basic Earnings per Share	$7.58	$9.66	$9.32	$9.47	$7.94	$9.65	$9.54	$9.90	$9.75	$9.88	$9.99
Weighted Average Basic Shares Outstanding	50.90M	50.20M	50.10M	49.90M	49.90M	49.20M	49M	48.80M	48.90M	48.20M	48M
Diluted Earnings per Share	$7.53	$9.61	$9.28	$9.43	$7.91	$9.62	$9.51	$9.87	$9.71	$9.86	$9.97
Weighted Average Diluted Shares Outstanding	51.10M	50.50M	50.30M	50.10M	50.10M	49.40M	49.20M	48.90M	49M	48.30M	48.10M
Weighted Average Basic & Diluted Shares Outstanding	50.20M	50.17M	50.00M	49.63M	49.17M	49.07M	48.83M	48.70M	48.22M	48.04M	47.83M
Cash Dividends to Common per Share	-	$1.72	$1.86	$1.86	-	$1.86	$2.05	$2.05	-	$2.05	$2.26

This table details how cash moves in and out of W.W. Grainger's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-204	63	-16	53	211	-178	225	-344	84	335	376
Net Cash From Operating Activities	960	1,036	1,024	1,057	1,057	1,042	1,123	937	1,333	2,031	2,111
Net Cash From Continuing Operating Activities	960	1,036	1,024	1,057	1,057	1,042	1,123	937	1,325	2,031	2,111
Net Income / (Loss) Continuing Operations	812	785	633	623	823	895	755	1,114	1,613	1,903	1,989
Consolidated Net Income / (Loss)	812	785	633	623	823	895	755	1,114	1,613	1,903	1,989
Depreciation Expense	208	228	249	264	257	229	182	187	205	214	237
Amortization Expense	-	-	-	-	-	-	-	-	70	76	84
Non-Cash Adjustments To Reconcile Net Income	106	72	110	100	204	173	361	36	53	102	85
Changes in Operating Assets and Liabilities, net	-167	-49	32	70	-227	-255	-175	-400	-616	-264	-284
Net Cash From Investing Activities	-384	-843	-262	-146	-166	-202	-179	-226	-263	-422	-520
Net Cash From Continuing Investing Activities	-384	-843	-262	-146	-166	-202	-179	-226	-263	-422	-520
Purchase of Property, Plant & Equipment	-387	-374	-284	-237	-239	-221	-197	-255	-256	-445	-541
Sale of Property, Plant & Equipment	27	15	55	120	86	17	20	29	28	21	3.00
Other Investing Activities, net	7.29	0.47	1.00	6.00	-13	2.00	-2.00	0.00	-35	2.00	18
Net Cash From Financing Activities	-758	-109	-776	-867	-670	-1,023	-726	-1,039	-972	-1,278	-1,180
Net Cash From Continuing Financing Activities	-758	-109	-776	-867	-670	-1,023	-726	-1,039	-972	-1,278	-1,180
Repayment of Debt	-288	194	-300	-452	-127	-53	-1,435	-5.00	-18	-40	-41
Repurchase of Common Equity	-525	-1,400	-790	-605	-425	-700	-601	-695	-603	-850	-1,201
Payment of Dividends	-291	-306	-303	-304	-316	-328	-338	-357	-370	-392	-421
Issuance of Debt	264	1,362	592	475	29	20	1,596	0.00	16	7.00	503
Other Financing Activities, net	82	42	25	19	169	38	52	18	3.00	-3.00	-20
Effect of Exchange Rate Changes	-22	-21	-2.00	9.00	-10	5.00	7.00	-16	-14	4.00	-35
Cash Interest Paid	10	32	63	78	86	84	94	87	91	109	111
Cash Income Taxes Paid	509	442	360	335	229	322	180	377	479	615	606

This table details how cash moves in and out of W.W. Grainger's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	10	136	54	86	59	144	-35	679	-412	-370	-69
Net Cash From Operating Activities	360	454	450	523	604	661	411	611	428	646	377
Net Cash From Continuing Operating Activities	352	454	450	523	604	661	409	611	428	646	377
Net Income / (Loss) Continuing Operations	397	508	490	493	412	497	490	505	497	500	508
Consolidated Net Income / (Loss)	397	508	490	493	412	497	490	505	497	500	508
Depreciation Expense	46	50	52	55	57	56	60	59	62	61	64
Amortization Expense	-	17	21	18	20	21	20	20	23	20	21
Non-Cash Adjustments To Reconcile Net Income	-19	16	24	20	42	17	29	20	19	19	29
Changes in Operating Assets and Liabilities, net	-142	-137	-137	-63	73	70	-190	7.00	-173	46	-245
Net Cash From Investing Activities	-51	-96	-95	-116	-115	-118	-59	-85	-258	-125	-158
Net Cash From Continuing Investing Activities	-51	-96	-95	-116	-115	-118	-59	-85	-258	-125	-158
Purchase of Property, Plant & Equipment	-48	-98	-95	-125	-127	-119	-76	-88	-258	-125	-175
Sale of Property, Plant & Equipment	21	2.00	-	9.00	10	1.00	-	1.00	1.00	0.00	4.00
Net Cash From Financing Activities	-304	-224	-297	-318	-439	-391	-372	148	-565	-898	-303
Net Cash From Continuing Financing Activities	-304	-224	-297	-318	-439	-391	-372	148	-565	-898	-303
Repayment of Debt	-18	-21	2.00	-18	-3.00	-18	-	-22	-1.00	-502	-2.00
Repurchase of Common Equity	-220	-142	-171	-193	-344	-268	-244	-227	-462	-281	-226
Payment of Dividends	-85	-87	-107	-106	-92	-105	-101	-115	-100	-115	-110
Issuance of Debt	15	6.00	-	1.00	-	1.00	2.00	500	-	1.00	62
Other Financing Activities, net	4.00	20	-21	-2.00	-	-1.00	-29	12	-2.00	-1.00	-27
Effect of Exchange Rate Changes	5.00	2.00	-4.00	-3.00	9.00	-8.00	-15	5.00	-17	7.00	15

This table presents W.W. Grainger's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	5,283	5,858	5,694	5,804	5,873	6,005	6,295	6,592	7,588	8,147	8,829
Total Current Assets	2,968	3,049	3,020	3,206	3,557	3,555	3,919	4,011	4,977	5,274	5,737
Cash & Equivalents	227	290	274	327	538	360	585	241	325	660	1,036
Accounts Receivable	1,173	1,210	1,223	1,325	1,385	1,425	1,474	1,754	2,133	2,192	2,232
Inventories, net	1,356	1,414	1,406	1,429	1,541	1,655	1,733	1,870	2,253	2,266	2,306
Prepaid Expenses	103	86	82	87	83	104	127	146	266	156	163
Plant, Property, & Equipment, net	1,324	1,431	1,421	1,392	1,352	1,400	1,395	1,424	1,461	1,658	1,927
Total Noncurrent Assets	991	1,378	1,253	1,206	964	1,050	981	1,157	1,150	1,215	1,165
Goodwill	507	582	527	544	424	429	391	384	371	370	355
Intangible Assets	264	648	586	569	460	304	228	238	232	234	243
Other Noncurrent Operating Assets	204	64	75	71	68	306	362	535	547	611	567
Total Liabilities & Shareholders' Equity	5,283	5,858	5,694	5,804	5,873	6,005	6,295	6,592	7,588	8,147	8,829
Total Liabilities	1,999	3,505	3,789	3,976	3,780	3,945	4,202	4,432	4,853	4,706	5,126
Total Current Liabilities	1,262	1,789	1,629	1,507	1,501	1,678	1,441	1,528	2,010	1,831	2,305
Short-Term Debt	80	600	406	95	130	301	8.00	0.00	35	34	499
Accounts Payable	554	583	650	731	678	719	779	816	1,047	954	952
Accrued Expenses	245	267	290	314	269	318	248	290	474	397	407
Current Deferred & Payable Income Tax Liabilities	12	17	15	20	29	27	42	37	52	48	45
Current Employee Benefit Liabilities	192	197	213	254	262	228	307	319	334	327	324
Other Current Liabilities	178	125	55	93	133	85	57	66	68	71	78
Total Noncurrent Liabilities	737	1,717	2,160	2,469	2,279	2,267	2,761	2,904	2,843	2,875	2,821
Long-Term Debt	403	1,388	1,841	2,248	2,090	1,914	2,389	2,362	2,284	2,266	2,279
Noncurrent Deferred & Payable Income Tax Liabilities	95	154	126	111	103	106	110	121	121	104	101
Noncurrent Employee Benefit Liabilities	238	174	193	110	86	247	100	87	120	124	114
Other Noncurrent Operating Liabilities	-	-	-	-	-	-	162	334	318	381	327
Total Equity & Noncontrolling Interests	3,284	2,353	1,906	1,828	2,093	2,060	2,093	2,160	2,735	3,441	3,703
Total Preferred & Common Equity	3,210	2,267	1,798	1,690	1,921	1,855	1,828	1,874	2,440	3,115	3,358
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,210	2,267	1,798	1,690	1,921	1,855	1,828	1,874	2,440	3,115	3,358
Common Stock	1,003	1,055	1,085	1,096	1,189	1,237	1,294	1,325	1,365	1,410	1,454
Retained Earnings	6,336	6,802	7,114	7,405	7,869	8,405	8,779	9,500	10,700	12,162	13,677
Treasury Stock	-4,033	-5,370	-6,128	-6,676	-6,966	-7,633	-8,184	-8,855	-9,445	-10,285	-11,499
Accumulated Other Comprehensive Income / (Loss)	-97	-221	-272	-135	-171	-154	-61	-96	-180	-172	-274
Noncontrolling Interest	74	86	108	138	172	205	265	286	295	326	345

This table presents W.W. Grainger's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	7,588	7,825	8,031	8,140	8,147	8,400	8,352	9,114	8,829	8,658	8,937
Total Current Assets	4,977	5,190	5,343	5,412	5,274	5,540	5,521	6,183	5,737	5,530	5,650
Cash & Equivalents	325	461	515	601	660	804	769	1,448	1,036	666	597
Accounts Receivable	2,133	2,294	2,418	2,444	2,192	2,330	2,344	2,346	2,232	2,369	2,472
Inventories, net	2,253	2,252	2,223	2,196	2,266	2,178	2,169	2,170	2,306	2,309	2,357
Prepaid Expenses	266	183	187	171	156	228	239	219	163	186	224
Plant, Property, & Equipment, net	1,461	1,468	1,485	1,543	1,658	1,667	1,667	1,746	1,927	1,974	2,107
Total Noncurrent Assets	1,150	1,167	1,203	1,185	1,215	1,193	1,164	1,185	1,165	1,154	1,180
Goodwill	371	370	368	364	370	364	360	366	355	356	365
Intangible Assets	232	234	237	238	234	236	237	247	243	249	267
Other Noncurrent Operating Assets	547	563	598	583	611	593	567	572	567	549	548
Total Liabilities & Shareholders' Equity	7,588	7,825	8,031	8,140	8,147	8,400	8,352	9,114	8,829	8,658	8,937
Total Liabilities	4,853	4,780	4,804	4,758	4,706	4,891	4,765	5,258	5,126	4,811	4,854
Total Current Liabilities	2,010	1,924	1,920	1,898	1,831	2,528	2,397	2,383	2,305	2,017	2,002
Short-Term Debt	35	37	33	34	34	501	505	497	499	3.00	2.00
Accounts Payable	1,047	1,074	1,158	1,067	954	1,133	1,106	1,046	952	1,114	1,204
Accrued Expenses	474	372	368	403	397	444	424	429	407	412	414
Current Deferred & Payable Income Tax Liabilities	52	146	33	24	48	144	36	27	45	138	41
Current Employee Benefit Liabilities	334	230	254	297	327	235	254	306	324	272	260
Other Current Liabilities	68	65	74	73	71	71	72	78	78	78	81
Total Noncurrent Liabilities	2,843	2,856	2,884	2,860	2,875	2,363	2,368	2,875	2,821	2,794	2,852
Long-Term Debt	2,284	2,278	2,275	2,260	2,266	1,783	1,783	2,279	2,279	2,278	2,341
Noncurrent Deferred & Payable Income Tax Liabilities	121	129	131	135	104	101	117	125	101	97	102
Noncurrent Employee Benefit Liabilities	120	109	103	104	124	120	116	118	114	99	104
Other Noncurrent Operating Liabilities	318	340	375	361	381	359	352	353	327	320	305
Total Equity & Noncontrolling Interests	2,735	3,045	3,227	3,382	3,441	3,509	3,587	3,856	3,703	3,847	4,083
Total Preferred & Common Equity	2,440	2,735	2,935	3,090	3,115	3,199	3,277	3,503	3,358	3,480	3,674
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,440	2,735	2,935	3,090	3,115	3,199	3,277	3,503	3,358	3,480	3,674
Common Stock	1,365	1,379	1,386	1,398	1,410	1,418	1,426	1,443	1,454	1,464	1,469
Retained Earnings	10,700	11,101	11,477	11,859	12,162	12,548	12,917	13,302	13,677	14,057	14,429
Treasury Stock	-9,445	-9,569	-9,744	-9,948	-10,285	-10,560	-10,818	-11,032	-11,499	-11,786	-12,025
Accumulated Other Comprehensive Income / (Loss)	-180	-176	-184	-219	-172	-207	-248	-210	-274	-255	-199
Noncontrolling Interest	295	310	292	292	326	310	310	353	345	367	409

This table displays calculated financial ratios and metrics derived from W.W. Grainger's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.59%	0.08%	1.64%	2.84%	7.64%	2.36%	2.71%	10.38%	16.94%	8.21%	4.19%
EBITDA Growth	4.91%	-1.80%	-9.77%	-6.40%	10.42%	6.83%	-19.45%	43.94%	42.92%	14.68%	3.43%
EBIT Growth	3.45%	-3.54%	-13.12%	-9.16%	13.80%	10.75%	-19.25%	51.15%	42.43%	15.81%	2.62%
NOPAT Growth	0.80%	-0.45%	-15.30%	-0.36%	27.98%	5.97%	-13.04%	42.85%	43.46%	17.28%	3.96%
Net Income Growth	0.56%	-3.34%	-19.38%	-1.58%	32.10%	8.75%	-15.64%	47.55%	44.79%	17.98%	4.52%
EPS Growth	2.88%	1.14%	-14.77%	1.52%	37.03%	11.58%	-16.32%	54.76%	51.51%	20.53%	6.85%
Operating Cash Flow Growth	-2.70%	7.95%	-1.17%	3.22%	0.00%	-1.42%	7.77%	-16.56%	42.26%	52.36%	3.94%
Free Cash Flow Firm Growth	18.76%	-57.38%	182.39%	-16.27%	31.38%	-16.45%	3.55%	-4.61%	55.11%	31.53%	4.08%
Invested Capital Growth	2.97%	14.41%	-4.26%	-0.89%	-1.80%	3.71%	-0.26%	9.63%	10.46%	7.44%	7.16%
Revenue Q/Q Growth	1.36%	-0.33%	-0.08%	1.58%	1.18%	0.74%	0.80%	3.32%	3.00%	1.20%	1.39%
EBITDA Q/Q Growth	0.84%	-0.67%	-4.26%	1.78%	5.49%	-6.30%	6.82%	9.19%	8.22%	3.71%	2.86%
EBIT Q/Q Growth	0.50%	-1.02%	-5.78%	2.44%	7.25%	-6.87%	9.59%	10.01%	5.91%	0.62%	2.90%
NOPAT Q/Q Growth	-0.84%	0.74%	-10.26%	17.55%	5.29%	-9.92%	9.69%	11.15%	6.28%	0.66%	4.19%
Net Income Q/Q Growth	-1.01%	-0.25%	-11.30%	17.74%	7.39%	-10.23%	9.90%	11.62%	6.33%	0.79%	4.46%
EPS Q/Q Growth	-0.61%	1.76%	-11.56%	18.72%	8.28%	-10.30%	10.33%	13.24%	7.47%	1.06%	4.88%
Operating Cash Flow Q/Q Growth	5.60%	0.31%	3.53%	0.10%	-2.05%	-3.87%	6.04%	-11.60%	12.39%	13.65%	-7.70%
Free Cash Flow Firm Q/Q Growth	21.49%	-27.85%	40.01%	-9.52%	-0.88%	-9.86%	2.97%	-1.82%	3.96%	12.58%	-9.42%
Invested Capital Q/Q Growth	-2.01%	1.28%	-6.61%	-2.43%	-1.13%	-1.48%	-0.28%	2.88%	3.77%	0.12%	5.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	43.29%	42.43%	40.59%	39.31%	38.75%	38.28%	35.92%	36.25%	38.41%	39.42%	39.36%
EBITDA Margin	15.56%	15.27%	13.55%	12.34%	12.65%	13.21%	10.36%	13.51%	16.51%	17.50%	17.37%
Operating Margin	13.52%	13.04%	10.98%	9.93%	10.32%	10.99%	8.64%	11.88%	14.55%	15.57%	15.36%
EBIT Margin	13.47%	12.98%	11.10%	9.80%	10.36%	11.21%	8.82%	12.07%	14.70%	15.74%	15.50%
Profit (Net Income) Margin	8.15%	7.87%	6.24%	5.98%	7.33%	7.79%	6.40%	8.55%	10.59%	11.55%	11.59%
Tax Burden Percent	60.87%	62.78%	62.12%	66.56%	76.13%	74.03%	79.73%	75.02%	75.16%	76.12%	76.97%
Interest Burden Percent	99.40%	96.59%	90.58%	91.59%	92.95%	93.87%	91.06%	94.47%	95.85%	96.41%	97.11%
Effective Tax Rate	39.13%	37.22%	37.88%	33.44%	23.87%	25.97%	20.27%	24.98%	24.84%	23.88%	23.03%
Return on Invested Capital (ROIC)	23.50%	21.50%	17.44%	17.84%	23.14%	24.30%	20.78%	28.35%	36.96%	39.81%	38.57%
ROIC Less NNEP Spread (ROIC-NNEP)	19.30%	18.32%	14.26%	14.54%	19.97%	22.08%	17.65%	25.99%	34.44%	37.08%	36.15%
Return on Net Nonoperating Assets (RNNOA)	1.08%	6.36%	12.29%	15.53%	18.84%	18.80%	15.58%	24.03%	28.95%	21.82%	17.12%
Return on Equity (ROE)	24.57%	27.86%	29.73%	33.37%	41.98%	43.10%	36.36%	52.39%	65.90%	61.63%	55.68%
Cash Return on Invested Capital (CROIC)	20.57%	8.06%	21.79%	18.74%	24.95%	20.66%	21.03%	19.17%	27.01%	32.63%	31.65%
Operating Return on Assets (OROA)	25.45%	23.25%	19.48%	17.78%	19.92%	21.69%	16.91%	24.40%	31.58%	32.96%	31.35%
Return on Assets (ROA)	15.40%	14.10%	10.96%	10.84%	14.10%	15.07%	12.28%	17.29%	22.75%	24.19%	23.43%
Return on Common Equity (ROCE)	24.01%	27.07%	28.38%	31.17%	38.66%	39.19%	32.24%	45.60%	58.08%	55.43%	50.45%
Return on Equity Simple (ROE_SIMPLE)	25.31%	34.64%	35.21%	36.86%	42.84%	48.25%	41.30%	59.45%	66.11%	61.09%	59.23%
Net Operating Profit after Tax (NOPAT)	820	816	691	689	882	934	812	1,161	1,665	1,952	2,030
NOPAT Margin	8.23%	8.19%	6.82%	6.61%	7.86%	8.13%	6.89%	8.91%	10.93%	11.85%	11.82%
Net Nonoperating Expense Percent (NNEP)	4.20%	3.19%	3.18%	3.30%	3.17%	2.22%	3.13%	2.37%	2.52%	2.72%	2.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	32.94%	34.01%	31.32%
Cost of Revenue to Revenue	56.71%	57.57%	59.41%	60.69%	61.25%	61.72%	64.08%	63.75%	61.59%	60.58%	60.64%
SG&A Expenses to Revenue	29.78%	29.39%	29.61%	29.38%	28.43%	27.29%	27.29%	24.37%	23.86%	23.86%	24.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	29.78%	29.39%	29.61%	29.38%	28.43%	27.29%	27.29%	24.37%	23.86%	23.86%	24.00%
Earnings before Interest and Taxes (EBIT)	1,342	1,295	1,125	1,022	1,163	1,288	1,040	1,572	2,239	2,593	2,661
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,551	1,523	1,374	1,286	1,420	1,517	1,222	1,759	2,514	2,883	2,982
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.56	4.82	6.77	7.19	7.60	9.21	11.44	13.79	11.29	13.07	15.26
Price to Tangible Book Value (P/TBV)	6.00	10.55	17.77	21.05	14.09	15.22	17.29	20.64	14.99	16.22	18.56
Price to Revenue (P/Rev)	1.47	1.10	1.20	1.17	1.30	1.49	1.77	1.98	1.81	2.47	2.98
Price to Earnings (P/E)	18.27	14.22	20.08	20.73	18.68	20.12	30.08	24.78	17.80	22.27	26.84
Dividend Yield	1.94%	2.64%	2.36%	2.37%	2.07%	1.79%	1.53%	1.27%	1.56%	0.89%	0.76%
Earnings Yield	5.47%	7.03%	4.98%	4.83%	5.35%	4.97%	3.32%	4.04%	5.62%	4.49%	3.73%
Enterprise Value to Invested Capital (EV/IC)	4.23	3.14	3.67	3.72	4.36	4.89	5.88	6.60	6.31	8.40	9.79
Enterprise Value to Revenue (EV/Rev)	1.50	1.28	1.41	1.37	1.47	1.67	1.95	2.17	1.96	2.59	3.11
Enterprise Value to EBITDA (EV/EBITDA)	9.66	8.35	10.37	11.12	11.59	12.62	18.81	16.06	11.87	14.81	17.88
Enterprise Value to EBIT (EV/EBIT)	11.16	9.82	12.67	13.99	14.15	14.86	22.10	17.97	13.32	16.46	20.04
Enterprise Value to NOPAT (EV/NOPAT)	18.26	15.58	20.61	20.76	18.67	20.49	28.29	24.35	17.92	21.87	26.27
Enterprise Value to Operating Cash Flow (EV/OCF)	15.60	12.28	13.91	13.53	15.57	18.37	20.46	30.15	22.38	21.02	25.26
Enterprise Value to Free Cash Flow (EV/FCFF)	20.86	41.57	16.49	19.76	17.32	24.10	27.94	36.01	24.51	26.67	32.01
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.85	1.18	1.28	1.06	1.08	1.15	1.09	0.85	0.67	0.75
Long-Term Debt to Equity	0.12	0.59	0.97	1.23	1.00	0.93	1.14	1.09	0.84	0.66	0.62
Financial Leverage	0.06	0.35	0.86	1.07	0.94	0.85	0.88	0.92	0.84	0.59	0.47
Leverage Ratio	1.60	1.98	2.71	3.08	2.98	2.86	2.96	3.03	2.90	2.55	2.38
Compound Leverage Factor	1.59	1.91	2.46	2.82	2.77	2.68	2.70	2.86	2.78	2.46	2.31
Debt to Total Capital	12.84%	45.81%	54.11%	56.17%	51.47%	51.81%	53.39%	52.23%	45.88%	40.06%	42.86%
Short-Term Debt to Total Capital	2.13%	13.83%	9.78%	2.28%	3.01%	7.04%	0.18%	0.00%	0.69%	0.59%	7.70%
Long-Term Debt to Total Capital	10.70%	31.98%	44.33%	53.90%	48.46%	44.77%	53.21%	52.23%	45.19%	39.47%	35.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.97%	1.98%	2.60%	3.31%	3.99%	4.80%	5.90%	6.32%	5.84%	5.68%	5.32%
Common Equity to Total Capital	85.19%	52.21%	43.29%	40.52%	44.54%	43.39%	40.71%	41.44%	48.28%	54.26%	51.81%
Debt to EBITDA	0.31	1.31	1.64	1.82	1.56	1.46	1.96	1.34	0.92	0.80	0.93
Net Debt to EBITDA	0.17	1.12	1.44	1.57	1.18	1.22	1.48	1.21	0.79	0.57	0.58
Long-Term Debt to EBITDA	0.26	0.91	1.34	1.75	1.47	1.26	1.96	1.34	0.91	0.79	0.76
Debt to NOPAT	0.59	2.44	3.25	3.40	2.52	2.37	2.95	2.04	1.39	1.18	1.37
Net Debt to NOPAT	0.31	2.08	2.85	2.93	1.91	1.99	2.23	1.83	1.20	0.84	0.86
Long-Term Debt to NOPAT	0.49	1.70	2.66	3.26	2.37	2.05	2.94	2.04	1.37	1.16	1.12
Altman Z-Score	9.19	6.19	6.40	6.35	7.18	7.55	7.83	8.73	8.83	10.86	11.57
Noncontrolling Interest Sharing Ratio	2.28%	2.84%	4.55%	6.58%	7.91%	9.08%	11.32%	12.96%	11.87%	10.06%	9.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.35	1.70	1.85	2.13	2.37	2.12	2.72	2.63	2.48	2.88	2.49
Quick Ratio	1.11	0.84	0.92	1.10	1.28	1.06	1.43	1.31	1.22	1.56	1.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	718	306	864	724	951	794	822	785	1,217	1,600	1,666
Operating Cash Flow to CapEx	266.15%	288.60%	447.16%	903.42%	690.85%	510.78%	634.46%	414.60%	584.65%	479.01%	392.38%
Free Cash Flow to Firm to Interest Expense	71.13	9.12	11.37	8.41	11.59	10.05	8.84	9.02	13.08	17.21	21.63
Operating Cash Flow to Interest Expense	95.10	30.86	13.47	12.29	12.89	13.19	12.08	10.77	14.33	21.84	27.42
Operating Cash Flow Less CapEx to Interest Expense	59.37	20.17	10.46	10.93	11.02	10.61	10.17	8.17	11.88	17.28	20.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.89	1.79	1.76	1.81	1.92	1.93	1.92	2.02	2.15	2.09	2.02
Accounts Receivable Turnover	8.76	8.37	8.33	8.18	8.28	8.18	8.14	8.07	7.84	7.62	7.76
Inventory Turnover	4.25	4.15	4.27	4.46	4.63	4.44	4.46	4.61	4.55	4.42	4.55
Fixed Asset Turnover	7.87	7.24	7.11	7.41	8.18	8.35	8.44	9.24	10.56	10.57	9.58
Accounts Payable Turnover	10.61	10.10	9.76	9.16	9.76	10.15	10.09	10.41	10.07	9.98	10.92
Days Sales Outstanding (DSO)	41.66	43.60	43.80	44.61	44.08	44.65	44.85	45.24	46.58	47.90	47.03
Days Inventory Outstanding (DIO)	85.97	88.06	85.48	81.79	78.86	82.28	81.80	79.20	80.23	82.62	80.15
Days Payable Outstanding (DPO)	34.39	36.16	37.38	39.84	37.41	35.96	36.17	35.06	36.25	36.58	33.41
Cash Conversion Cycle (CCC)	93.24	95.50	91.89	86.56	85.53	90.96	90.48	89.38	90.56	93.94	93.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,541	4,051	3,879	3,844	3,775	3,915	3,905	4,281	4,729	5,081	5,445
Invested Capital Turnover	2.86	2.63	2.56	2.70	2.95	2.99	3.02	3.18	3.38	3.36	3.26
Increase / (Decrease) in Invested Capital	102	510	-173	-35	-69	140	-10	376	448	352	364
Enterprise Value (EV)	14,977	12,721	14,248	14,299	16,461	19,139	22,981	28,253	29,831	42,692	53,318
Market Capitalization	14,645	10,936	12,168	12,145	14,607	17,079	20,904	25,846	27,542	40,726	51,231
Book Value per Share	$47.08	$36.10	$30.18	$29.66	$34.11	$34.44	$34.06	$36.37	$48.29	$62.76	$68.95
Tangible Book Value per Share	$35.77	$16.50	$11.49	$10.13	$18.41	$20.83	$22.53	$24.30	$36.36	$50.59	$56.67
Total Capital	3,768	4,342	4,153	4,171	4,313	4,275	4,490	4,522	5,054	5,741	6,481
Total Debt	484	1,989	2,247	2,343	2,220	2,215	2,397	2,362	2,319	2,300	2,778
Total Long-Term Debt	403	1,388	1,841	2,248	2,090	1,914	2,389	2,362	2,284	2,266	2,279
Net Debt	257	1,699	1,973	2,016	1,682	1,855	1,812	2,121	1,994	1,640	1,742
Capital Expenditures (CapEx)	361	359	229	117	153	204	177	226	228	424	538
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,559	1,570	1,523	1,467	1,648	1,818	1,901	2,242	2,677	2,817	2,895
Debt-free Net Working Capital (DFNWC)	1,786	1,861	1,797	1,794	2,186	2,178	2,486	2,483	3,002	3,477	3,931
Net Working Capital (NWC)	1,706	1,260	1,391	1,699	2,056	1,877	2,478	2,483	2,967	3,443	3,432
Net Nonoperating Expense (NNE)	7.75	31	58	66	59	39	57	47	52	49	41
Net Nonoperating Obligations (NNO)	257	1,699	1,973	2,016	1,682	1,855	1,812	2,121	1,994	1,640	1,742
Total Depreciation and Amortization (D&A)	208	228	249	264	257	229	182	187	275	290	321
Debt-free, Cash-free Net Working Capital to Revenue	15.65%	15.75%	15.03%	14.07%	14.69%	15.83%	16.11%	17.22%	17.58%	17.10%	16.86%
Debt-free Net Working Capital to Revenue	17.92%	18.65%	17.73%	17.21%	19.48%	18.96%	21.07%	19.07%	19.71%	21.10%	22.90%
Net Working Capital to Revenue	17.12%	12.63%	13.72%	16.30%	18.32%	16.34%	21.01%	19.07%	19.48%	20.89%	19.99%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$15.39	$12.88	$19.94	$30.22	$36.39	$38.84
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	54.70M	53.50M	51.90M	50.90M	49.90M	48.90M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$15.32	$12.82	$19.84	$30.06	$36.23	$38.71
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	54.90M	53.70M	52.20M	51.10M	50.10M	49M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	53.66M	52.38M	51.11M	50.20M	49.17M	48.22M
Normalized Net Operating Profit after Tax (NOPAT)	820	816	691	689	882	934	812	1,161	1,665	1,952	2,030
Normalized NOPAT Margin	8.23%	8.19%	6.82%	6.61%	7.86%	8.13%	6.89%	8.91%	10.93%	11.85%	11.82%
Pre Tax Income Margin	13.39%	12.54%	10.05%	8.98%	9.63%	10.53%	8.03%	11.40%	14.09%	15.17%	15.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	133.00	38.57	14.80	11.88	14.18	16.30	11.18	18.07	24.08	27.88	34.56
NOPAT to Interest Expense	81.25	24.32	9.10	8.01	10.75	11.83	8.74	13.34	17.90	20.99	26.36
EBIT Less CapEx to Interest Expense	97.27	27.88	11.79	10.52	12.32	13.72	9.28	15.47	21.62	23.32	27.57
NOPAT Less CapEx to Interest Expense	45.52	13.62	6.08	6.65	8.89	9.24	6.83	10.74	15.45	16.44	19.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	35.87%	39.03%	47.87%	48.80%	38.40%	36.65%	44.77%	32.05%	22.94%	20.60%	21.17%
Augmented Payout Ratio	100.52%	217.35%	172.67%	145.91%	90.04%	114.86%	124.37%	94.43%	60.32%	65.27%	81.55%

This table displays calculated financial ratios and metrics derived from W.W. Grainger's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.19%	12.17%	8.99%	6.75%	5.13%	3.52%	3.11%	4.28%	5.90%	1.68%	5.61%
EBITDA Growth	25.58%	27.20%	24.92%	12.50%	7.91%	0.00%	-0.81%	2.95%	12.95%	0.80%	4.08%
EBIT Growth	29.55%	27.04%	24.12%	10.13%	2.92%	-1.46%	-1.94%	2.37%	13.30%	0.30%	3.81%
NOPAT Growth	31.42%	31.22%	24.98%	11.08%	3.12%	-2.72%	-0.43%	2.37%	19.24%	0.75%	4.21%
Net Income Growth	31.89%	31.95%	25.96%	11.54%	3.78%	-2.17%	0.00%	2.43%	20.63%	0.60%	3.67%
EPS Growth	38.42%	35.93%	29.07%	14.03%	5.05%	0.10%	2.48%	4.67%	22.76%	2.49%	4.84%
Operating Cash Flow Growth	69.01%	32.36%	80.00%	37.63%	67.78%	45.59%	-8.67%	16.83%	-29.14%	-2.27%	-8.27%
Free Cash Flow Firm Growth	41.84%	31.35%	107.05%	-123.53%	297.05%	1,358.38%	3,611.47%	3,082.06%	96.43%	-90.80%	-148.77%
Invested Capital Growth	10.46%	12.78%	10.84%	11.37%	7.44%	1.84%	1.71%	2.15%	7.16%	9.48%	14.16%
Revenue Q/Q Growth	-3.55%	7.60%	2.22%	0.62%	-5.01%	5.95%	1.82%	1.76%	-3.53%	1.72%	5.76%
EBITDA Q/Q Growth	-10.54%	26.77%	-1.46%	0.67%	-14.19%	22.24%	-2.26%	4.48%	-5.85%	4.83%	0.92%
EBIT Q/Q Growth	-10.46%	25.18%	-2.48%	0.75%	-16.32%	19.86%	-2.96%	5.18%	-7.39%	6.10%	0.44%
NOPAT Q/Q Growth	-9.40%	26.85%	-3.77%	0.44%	-15.89%	19.67%	-1.50%	3.25%	-2.03%	1.11%	1.89%
Net Income Q/Q Growth	-10.18%	27.96%	-3.54%	0.61%	-16.43%	20.63%	-1.41%	3.06%	-1.58%	0.60%	1.60%
EPS Q/Q Growth	-8.95%	27.62%	-3.43%	1.62%	-16.12%	21.62%	-1.14%	3.79%	-1.62%	1.54%	1.12%
Operating Cash Flow Q/Q Growth	-5.26%	26.11%	-0.88%	16.22%	15.49%	9.44%	-37.82%	48.66%	-29.95%	50.93%	-41.64%
Free Cash Flow Firm Q/Q Growth	-163.11%	9.40%	133.61%	-222.44%	628.52%	478.55%	-0.86%	-1.62%	-65.19%	-72.91%	-625.66%
Invested Capital Q/Q Growth	3.77%	3.59%	2.47%	1.10%	0.12%	-1.81%	2.35%	1.53%	5.03%	0.31%	6.72%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.61%	39.94%	39.31%	39.33%	39.10%	39.39%	39.29%	39.20%	39.59%	39.71%	38.54%
EBITDA Margin	15.62%	18.41%	17.74%	17.75%	16.04%	17.78%	17.07%	17.53%	17.10%	17.63%	16.82%
Operating Margin	14.31%	16.62%	15.81%	15.85%	13.94%	15.80%	15.05%	15.63%	14.95%	15.61%	14.89%
EBIT Margin	14.41%	16.77%	16.00%	16.02%	14.11%	15.96%	15.21%	15.72%	15.10%	15.75%	14.95%
Profit (Net Income) Margin	10.44%	12.42%	11.72%	11.72%	10.31%	11.74%	11.36%	11.51%	11.74%	11.61%	11.16%
Tax Burden Percent	75.62%	76.74%	75.97%	75.61%	76.16%	75.88%	77.04%	75.26%	79.90%	76.10%	76.85%
Interest Burden Percent	95.80%	96.50%	96.41%	96.74%	95.92%	96.89%	96.95%	97.25%	97.34%	96.90%	97.06%
Effective Tax Rate	24.38%	23.26%	24.03%	24.39%	23.84%	24.12%	22.96%	24.74%	20.10%	23.90%	23.15%
Return on Invested Capital (ROIC)	36.57%	43.25%	40.28%	40.52%	35.65%	40.30%	38.37%	38.84%	38.98%	39.18%	36.58%
ROIC Less NNEP Spread (ROIC-NNEP)	35.88%	42.53%	39.65%	39.91%	34.98%	39.66%	37.76%	38.09%	38.46%	38.44%	35.78%
Return on Net Nonoperating Assets (RNNOA)	30.16%	30.07%	26.87%	24.76%	20.58%	20.18%	18.35%	15.90%	18.21%	16.18%	15.23%
Return on Equity (ROE)	66.73%	73.32%	67.15%	65.28%	56.24%	60.47%	56.72%	54.74%	57.18%	55.36%	51.81%
Cash Return on Invested Capital (CROIC)	27.01%	26.70%	29.29%	29.52%	32.63%	37.38%	36.54%	35.85%	31.65%	29.87%	24.36%
Operating Return on Assets (OROA)	30.96%	35.47%	33.98%	34.00%	29.55%	32.71%	31.11%	30.86%	30.53%	31.83%	30.24%
Return on Assets (ROA)	22.43%	26.27%	24.89%	24.87%	21.59%	24.05%	23.24%	22.59%	23.75%	23.47%	22.56%
Return on Common Equity (ROCE)	58.81%	65.21%	60.59%	59.29%	50.58%	54.75%	51.71%	49.86%	51.81%	50.26%	46.96%
Return on Equity Simple (ROE_SIMPLE)	0.00%	63.47%	62.59%	61.10%	0.00%	59.14%	57.74%	54.35%	0.00%	57.24%	0.00%
Net Operating Profit after Tax (NOPAT)	411	522	502	504	424	508	500	516	506	511	521
NOPAT Margin	10.82%	12.76%	12.01%	11.99%	10.61%	11.99%	11.60%	11.77%	11.95%	11.88%	11.44%
Net Nonoperating Expense Percent (NNEP)	0.70%	0.72%	0.63%	0.62%	0.67%	0.64%	0.60%	0.75%	0.52%	0.74%	0.80%
Return On Investment Capital (ROIC_SIMPLE)	8.14%	-	-	-	7.39%	-	-	-	7.80%	8.35%	8.11%
Cost of Revenue to Revenue	60.39%	60.06%	60.69%	60.67%	60.90%	60.61%	60.71%	60.80%	60.41%	60.29%	61.46%
SG&A Expenses to Revenue	25.30%	23.32%	23.51%	23.48%	25.17%	23.59%	24.23%	23.56%	24.64%	24.11%	23.65%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.30%	23.32%	23.51%	23.48%	25.17%	23.59%	24.23%	23.56%	24.64%	24.11%	23.65%
Earnings before Interest and Taxes (EBIT)	548	686	669	674	564	676	656	690	639	678	681
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	594	753	742	747	641	753	736	769	724	759	766
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.29	12.47	13.33	11.10	13.07	15.72	13.48	14.48	15.26	13.69	13.60
Price to Tangible Book Value (P/TBV)	14.99	16.00	16.79	13.78	16.22	19.35	16.48	17.55	18.56	16.57	16.43
Price to Revenue (P/Rev)	1.81	2.18	2.44	2.11	2.47	3.02	2.64	3.00	2.98	2.76	2.86
Price to Earnings (P/E)	17.80	20.43	22.13	18.87	22.27	27.64	24.29	27.73	26.84	24.94	26.00
Dividend Yield	1.56%	1.27%	1.12%	1.29%	0.89%	0.73%	0.85%	0.75%	0.76%	0.83%	0.81%
Earnings Yield	5.62%	4.89%	4.52%	5.30%	4.49%	3.62%	4.12%	3.61%	3.73%	4.01%	3.85%
Enterprise Value to Invested Capital (EV/IC)	6.31	7.40	8.21	7.15	8.40	10.44	9.01	10.11	9.79	9.08	8.94
Enterprise Value to Revenue (EV/Rev)	1.96	2.31	2.57	2.23	2.59	3.13	2.75	3.09	3.11	2.88	2.98
Enterprise Value to EBITDA (EV/EBITDA)	11.87	14.01	15.18	13.05	14.81	18.06	15.99	18.08	17.88	16.60	17.27
Enterprise Value to EBIT (EV/EBIT)	13.32	15.20	16.38	14.08	16.46	20.16	17.90	20.26	20.04	18.63	19.39
Enterprise Value to NOPAT (EV/NOPAT)	17.92	20.27	21.81	18.71	21.87	26.86	23.76	26.90	26.27	24.40	25.37
Enterprise Value to Operating Cash Flow (EV/OCF)	22.38	25.11	25.06	20.30	21.02	23.27	20.92	22.91	25.26	23.67	25.28
Enterprise Value to Free Cash Flow (EV/FCFF)	24.51	29.38	29.47	25.52	26.67	28.17	24.87	28.49	32.01	31.79	39.14
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.85	0.76	0.72	0.68	0.67	0.65	0.64	0.72	0.75	0.59	0.57
Long-Term Debt to Equity	0.84	0.75	0.71	0.67	0.66	0.51	0.50	0.59	0.62	0.59	0.57
Financial Leverage	0.84	0.71	0.68	0.62	0.59	0.51	0.49	0.42	0.47	0.42	0.43
Leverage Ratio	2.90	2.74	2.65	2.58	2.55	2.48	2.40	2.38	2.38	2.32	2.25
Compound Leverage Factor	2.78	2.64	2.55	2.50	2.44	2.40	2.33	2.32	2.31	2.25	2.19
Debt to Total Capital	45.88%	43.19%	41.70%	40.42%	40.06%	39.43%	38.94%	41.86%	42.86%	37.22%	36.46%
Short-Term Debt to Total Capital	0.69%	0.69%	0.60%	0.60%	0.59%	8.65%	8.60%	7.49%	7.70%	0.05%	0.03%
Long-Term Debt to Total Capital	45.19%	42.50%	41.10%	39.82%	39.47%	30.78%	30.35%	34.36%	35.16%	37.17%	36.43%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	5.84%	5.78%	5.28%	5.14%	5.68%	5.35%	5.28%	5.32%	5.32%	5.99%	6.36%
Common Equity to Total Capital	48.28%	51.03%	53.03%	54.44%	54.26%	55.22%	55.78%	52.82%	51.81%	56.79%	57.17%
Debt to EBITDA	0.92	0.89	0.85	0.83	0.80	0.79	0.80	0.96	0.93	0.76	0.78
Net Debt to EBITDA	0.79	0.72	0.66	0.61	0.57	0.51	0.53	0.46	0.58	0.54	0.58
Long-Term Debt to EBITDA	0.91	0.88	0.84	0.81	0.79	0.62	0.62	0.79	0.76	0.76	0.78
Debt to NOPAT	1.39	1.29	1.22	1.18	1.18	1.18	1.18	1.43	1.37	1.12	1.14
Net Debt to NOPAT	1.20	1.04	0.95	0.87	0.84	0.76	0.78	0.68	0.86	0.79	0.85
Long-Term Debt to NOPAT	1.37	1.27	1.20	1.17	1.16	0.92	0.92	1.17	1.12	1.12	1.14
Altman Z-Score	8.09	9.06	9.67	9.16	10.04	10.93	10.44	10.44	10.82	10.95	11.13
Noncontrolling Interest Sharing Ratio	11.87%	11.06%	9.77%	9.19%	10.06%	9.46%	8.83%	8.91%	9.39%	9.20%	9.37%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.48	2.70	2.78	2.85	2.88	2.19	2.30	2.59	2.49	2.74	2.82
Quick Ratio	1.22	1.43	1.53	1.60	1.56	1.24	1.30	1.59	1.42	1.50	1.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-37	-33	11	-14	72	418	414	407	142	38	-202
Operating Cash Flow to CapEx	1,333.33%	472.92%	473.68%	450.86%	516.24%	560.17%	540.79%	702.30%	166.54%	516.80%	220.47%
Free Cash Flow to Firm to Interest Expense	-1.59	-1.38	0.46	-0.62	3.14	19.89	20.70	21.44	8.34	1.83	-10.10
Operating Cash Flow to Interest Expense	15.65	18.92	18.75	23.77	26.26	31.48	20.55	32.16	25.18	30.76	18.85
Operating Cash Flow Less CapEx to Interest Expense	14.48	14.92	14.79	18.50	21.17	25.86	16.75	27.58	10.06	24.81	10.30
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.15	2.12	2.12	2.12	2.09	2.05	2.05	1.96	2.02	2.02	2.02
Accounts Receivable Turnover	7.84	7.30	7.09	7.08	7.62	7.19	7.04	7.07	7.76	7.34	7.26
Inventory Turnover	4.55	4.58	4.61	4.61	4.42	4.56	4.63	4.71	4.55	4.65	4.69
Fixed Asset Turnover	10.56	10.80	10.96	11.03	10.57	10.60	10.63	10.30	9.58	9.47	9.26
Accounts Payable Turnover	10.07	9.06	8.78	9.35	9.98	9.15	8.99	9.74	10.92	9.29	9.19
Days Sales Outstanding (DSO)	46.58	50.02	51.47	51.58	47.90	50.77	51.88	51.63	47.03	49.75	50.28
Days Inventory Outstanding (DIO)	80.23	79.72	79.15	79.11	82.62	80.11	78.80	77.46	80.15	78.44	77.78
Days Payable Outstanding (DPO)	36.25	40.27	41.56	39.03	36.58	39.91	40.62	37.49	33.41	39.28	39.70
Cash Conversion Cycle (CCC)	90.56	89.46	89.06	91.66	93.94	90.97	90.06	91.60	93.77	88.91	88.36
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,729	4,899	5,020	5,075	5,081	4,989	5,106	5,184	5,445	5,462	5,829
Invested Capital Turnover	3.38	3.39	3.35	3.38	3.36	3.36	3.31	3.30	3.26	3.30	3.20
Increase / (Decrease) in Invested Capital	448	555	491	518	352	90	86	109	364	473	723
Enterprise Value (EV)	29,831	36,261	41,206	36,282	42,692	52,069	46,008	52,402	53,318	49,612	52,127
Market Capitalization	27,542	34,097	39,121	34,297	40,726	50,279	44,179	50,721	51,231	47,630	49,972
Book Value per Share	$48.29	$54.48	$58.50	$61.80	$62.76	$65.02	$66.78	$71.75	$68.95	$72.17	$76.48
Tangible Book Value per Share	$36.36	$42.45	$46.44	$49.76	$50.59	$52.83	$54.62	$59.19	$56.67	$59.63	$63.32
Total Capital	5,054	5,360	5,535	5,676	5,741	5,793	5,875	6,632	6,481	6,128	6,426
Total Debt	2,319	2,315	2,308	2,294	2,300	2,284	2,288	2,776	2,778	2,281	2,343
Total Long-Term Debt	2,284	2,278	2,275	2,260	2,266	1,783	1,783	2,279	2,279	2,278	2,341
Net Debt	1,994	1,854	1,793	1,693	1,640	1,480	1,519	1,328	1,742	1,615	1,746
Capital Expenditures (CapEx)	27	96	95	116	117	118	76	87	257	125	171
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,677	2,842	2,941	2,947	2,817	2,709	2,860	2,849	2,895	2,850	3,053
Debt-free Net Working Capital (DFNWC)	3,002	3,303	3,456	3,548	3,477	3,513	3,629	4,297	3,931	3,516	3,650
Net Working Capital (NWC)	2,967	3,266	3,423	3,514	3,443	3,012	3,124	3,800	3,432	3,513	3,648
Net Nonoperating Expense (NNE)	14	14	12	11	12	11	10	11	8.79	11	13
Net Nonoperating Obligations (NNO)	1,994	1,854	1,793	1,693	1,640	1,480	1,519	1,328	1,742	1,615	1,746
Total Depreciation and Amortization (D&A)	46	67	73	73	77	77	80	79	85	81	85
Debt-free, Cash-free Net Working Capital to Revenue	17.58%	18.13%	18.36%	18.10%	17.10%	16.30%	17.07%	16.83%	16.86%	16.53%	17.46%
Debt-free Net Working Capital to Revenue	19.71%	21.08%	21.58%	21.79%	21.10%	21.13%	21.66%	25.38%	22.90%	20.40%	20.88%
Net Working Capital to Revenue	19.48%	20.84%	21.37%	21.58%	20.89%	18.12%	18.65%	22.44%	19.99%	20.38%	20.87%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.58	$9.66	$9.32	$9.47	$7.94	$9.65	$9.54	$9.90	$9.75	$9.88	$9.99
Adjusted Weighted Average Basic Shares Outstanding	50.90M	50.20M	50.10M	49.90M	49.90M	49.20M	49M	48.80M	48.90M	48.20M	48M
Adjusted Diluted Earnings per Share	$7.53	$9.61	$9.28	$9.43	$7.91	$9.62	$9.51	$9.87	$9.71	$9.86	$9.97
Adjusted Weighted Average Diluted Shares Outstanding	51.10M	50.50M	50.30M	50.10M	50.10M	49.40M	49.20M	48.90M	49M	48.30M	48.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.20M	50.17M	50.00M	49.63M	49.17M	49.07M	48.83M	48.70M	48.22M	48.04M	47.83M
Normalized Net Operating Profit after Tax (NOPAT)	411	522	502	504	424	508	500	516	506	511	521
Normalized NOPAT Margin	10.82%	12.76%	12.01%	11.99%	10.61%	11.99%	11.60%	11.77%	11.95%	11.88%	11.44%
Pre Tax Income Margin	13.81%	16.18%	15.42%	15.49%	13.54%	15.47%	14.75%	15.29%	14.69%	15.26%	14.51%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	23.83	28.58	27.88	30.64	24.52	32.19	32.80	36.32	37.59	32.29	34.05
NOPAT to Interest Expense	17.89	21.74	20.92	22.92	18.44	24.17	25.00	27.17	29.75	24.35	26.05
EBIT Less CapEx to Interest Expense	22.65	24.58	23.92	25.36	19.43	26.57	29.00	31.74	22.47	26.33	25.50
NOPAT Less CapEx to Interest Expense	16.71	17.74	16.96	17.65	13.36	18.55	21.20	22.59	14.63	18.40	17.50
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	22.94%	21.49%	20.74%	20.39%	20.60%	21.67%	21.35%	21.69%	21.17%	21.64%	21.89%
Augmented Payout Ratio	60.32%	59.85%	59.77%	58.85%	65.27%	73.26%	76.80%	78.57%	81.55%	82.58%	81.39%

Financials Breakdown Chart

Frequently Asked Questions About W.W. Grainger's Financials

When does W.W. Grainger's fiscal year end?

According to the most recent income statement we have on file, W.W. Grainger's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has W.W. Grainger's net income changed over the last 10 years?

W.W. Grainger's net income appears to be on an upward trend, with a most recent value of $1.99 billion in 2024, rising from $812.30 million in 2014. The previous period was $1.90 billion in 2023. See W.W. Grainger's forecast for analyst expectations on what’s next for the company.

What is W.W. Grainger's operating income?

W.W. Grainger's total operating income in 2024 was $2.64 billion, based on the following breakdown:

Total Gross Profit: $6.76 billion
Total Operating Expenses: $4.12 billion

How has W.W. Grainger's revenue changed over the last 10 years?

Over the last 10 years, W.W. Grainger's total revenue changed from $9.96 billion in 2014 to $17.17 billion in 2024, a change of 72.3%.

How much debt does W.W. Grainger have?

W.W. Grainger's total liabilities were at $5.13 billion at the end of 2024, a 8.9% increase from 2023, and a 156.4% increase since 2014.

How much cash does W.W. Grainger have?

In the past 10 years, W.W. Grainger's cash and equivalents has ranged from $226.64 million in 2014 to $1.04 billion in 2024, and is currently $1.04 billion as of their latest financial filing in 2024.

How has W.W. Grainger's book value per share changed over the last 10 years?

Over the last 10 years, W.W. Grainger's book value per share changed from 47.08 in 2014 to 68.95 in 2024, a change of 46.5%.

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This page (NYSE:GWW) was last updated on 8/29/2025 by MarketBeat.com Staff

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W.W. Grainger (GWW) Financials

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