WW Grainger Financials
This page shows WW Grainger (GWW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Grainger remains a cash-generative distributor, but recent growth is absorbing more operating and capital spend than it did in FY2023.
Between FY2024 and FY2025, revenue still grew while operating margin slipped from15.4% to13.9% , showing that added sales no longer carried the same fixed-cost absorption. Free-cash-flow margin also narrowed from9.1% to7.4% even though operating cash flow still exceeded net income, which points to heavier reinvestment rather than weak cash conversion, so the squeeze is happening after cash arrives, not before.
Long-term debt has stayed near
Margin pressure looks more like expense intensity than a collapse in product economics: gross margin only eased from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of WW Grainger's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
WW Grainger has an operating margin of 13.9%, meaning the company retains $14 of operating profit per $100 of revenue. This results in a moderate score of 55/100, indicating healthy but not exceptional operating efficiency. This is down from 15.4% the prior year.
WW Grainger's revenue grew a modest 4.5% year-over-year to $17.9B. This slow but positive growth earns a score of 41/100.
WW Grainger carries a low D/E ratio of 0.63, meaning only $0.63 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.
WW Grainger's current ratio of 2.83 indicates adequate short-term liquidity, earning a score of 54/100. The company can meet its near-term obligations, though with limited headroom.
WW Grainger has a free cash flow margin of 7.4%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.
WW Grainger earns a strong 45.7% return on equity (ROE), meaning it generates $46 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 56.9% the prior year.
WW Grainger scores 12.69, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($60.6B) relative to total liabilities ($5.2B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
WW Grainger passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, WW Grainger generates $1.18 in operating cash flow ($2.0B OCF vs $1.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
WW Grainger earns $30.8 in operating income for every $1 of interest expense ($2.5B vs $81.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
WW Grainger generated $17.9B in revenue in fiscal year 2025. This represents an increase of 4.5% from the prior year.
WW Grainger's EBITDA was $2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 4.2% from the prior year.
WW Grainger reported $1.7B in net income in fiscal year 2025. This represents a decrease of 10.6% from the prior year.
WW Grainger earned $35.40 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 8.6% from the prior year.
Cash & Balance Sheet
WW Grainger generated $1.3B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 15.2% from the prior year.
WW Grainger held $585.0M in cash against $2.4B in long-term debt as of fiscal year 2025.
WW Grainger paid $8.83 per share in dividends in fiscal year 2025. This represents an increase of 10.2% from the prior year.
WW Grainger had 47M shares outstanding in fiscal year 2025. This represents a decrease of 1.7% from the prior year.
Margins & Returns
WW Grainger's gross margin was 39.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.
WW Grainger's operating margin was 13.9% in fiscal year 2025, reflecting core business profitability. This is down 1.4 percentage points from the prior year.
WW Grainger's net profit margin was 9.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.6 percentage points from the prior year.
WW Grainger's ROE was 45.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.2 percentage points from the prior year.
Capital Allocation
WW Grainger spent $1.0B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 13.0% from the prior year.
WW Grainger invested $684.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.4% from the prior year.
GWW Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7B+7.2% | $4.4B-5.0% | $4.7B+2.3% | $4.6B+5.8% | $4.3B+1.7% | $4.2B-3.5% | $4.4B+1.8% | $4.3B |
| Cost of Revenue | $2.8B+6.2% | $2.7B-6.3% | $2.9B+2.1% | $2.8B+7.8% | $2.6B+1.5% | $2.6B-4.2% | $2.7B+1.9% | $2.6B |
| Gross Profit | $1.9B+8.6% | $1.7B-2.9% | $1.8B+2.5% | $1.8B+2.6% | $1.7B+2.0% | $1.7B-2.6% | $1.7B+1.5% | $1.7B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.1B-0.8% | $1.1B-13.6% | $1.3B+19.5% | $1.1B+3.8% | $1.0B-0.5% | $1.0B+0.9% | $1.0B-1.1% | $1.0B |
| Operating Income | $793.0M+25.1% | $634.0M+24.1% | $511.0M-24.6% | $678.0M+0.9% | $672.0M+6.2% | $633.0M-7.7% | $686.0M+5.7% | $649.0M |
| Interest Expense | -$21.0M-114.8% | $142.0M+810.0% | -$20.0M0.0% | -$20.0M+4.8% | -$21.0M-115.3% | $137.0M+821.1% | -$19.0M+5.0% | -$20.0M |
| Income Tax | $194.0M+37.6% | $141.0M-17.5% | $171.0M+11.8% | $153.0M-2.5% | $157.0M+25.6% | $125.0M-24.7% | $166.0M+13.7% | $146.0M |
| Net Income | $555.0M+23.1% | $451.0M+53.4% | $294.0M-39.0% | $482.0M+0.6% | $479.0M+0.8% | $475.0M-2.3% | $486.0M+3.4% | $470.0M |
| EPS (Diluted) | $11.65 | N/A | $6.12-38.6% | $9.97+1.1% | $9.86 | N/A | $9.87+3.8% | $9.51 |
GWW Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.5B+5.7% | $9.0B+1.3% | $8.8B-1.0% | $8.9B+3.2% | $8.7B-1.9% | $8.8B-3.1% | $9.1B+9.1% | $8.4B |
| Current Assets | $5.9B+7.7% | $5.5B+0.2% | $5.5B-3.1% | $5.7B+2.2% | $5.5B-3.6% | $5.7B-7.2% | $6.2B+12.0% | $5.5B |
| Cash & Equivalents | $695.0M+18.8% | $585.0M+9.3% | $535.0M-10.4% | $597.0M-10.4% | $666.0M-35.7% | $1.0B-28.5% | $1.4B+88.3% | $769.0M |
| Inventory | $2.4B-0.4% | $2.4B+5.2% | $2.3B-3.5% | $2.4B+2.1% | $2.3B+0.1% | $2.3B+6.3% | $2.2B0.0% | $2.2B |
| Accounts Receivable | $2.6B+12.8% | $2.3B-3.3% | $2.4B-2.6% | $2.5B+4.3% | $2.4B+6.1% | $2.2B-4.9% | $2.3B+0.1% | $2.3B |
| Goodwill | $358.0M-0.6% | $360.0M-0.3% | $361.0M-1.1% | $365.0M+2.5% | $356.0M+0.3% | $355.0M-3.0% | $366.0M+1.7% | $360.0M |
| Total Liabilities | $5.5B+6.1% | $5.2B-1.2% | $5.3B+0.5% | $5.3B+1.6% | $5.2B-5.4% | $5.5B-2.5% | $5.6B+10.6% | $5.1B |
| Current Liabilities | $2.2B+13.4% | $1.9B-3.7% | $2.0B+0.6% | $2.0B-0.7% | $2.0B-12.5% | $2.3B-3.3% | $2.4B-0.6% | $2.4B |
| Long-Term Debt | $2.4B+2.0% | $2.4B-0.2% | $2.4B+1.1% | $2.3B+2.8% | $2.3B0.0% | $2.3B-17.9% | $2.8B+21.3% | $2.3B |
| Total Equity | $3.9B+5.2% | $3.7B+4.9% | $3.6B-3.1% | $3.7B+5.6% | $3.5B+3.6% | $3.4B-4.1% | $3.5B+6.9% | $3.3B |
| Retained Earnings | $15.4B+3.0% | $15.0B+2.3% | $14.6B+1.3% | $14.4B+2.6% | $14.1B+2.8% | $13.7B+2.8% | $13.3B+3.0% | $12.9B |
GWW Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $739.0M+87.1% | $395.0M-33.8% | $597.0M+58.4% | $377.0M-41.6% | $646.0M+50.9% | $428.0M-30.0% | $611.0M+48.7% | $411.0M |
| Capital Expenditures | $170.0M+34.9% | $126.0M-51.2% | $258.0M+47.4% | $175.0M+40.0% | $125.0M-51.6% | $258.0M+193.2% | $88.0M+15.8% | $76.0M |
| Free Cash Flow | $569.0M+111.5% | $269.0M-20.6% | $339.0M+67.8% | $202.0M-61.2% | $521.0M+206.5% | $170.0M-67.5% | $523.0M+56.1% | $335.0M |
| Investing Cash Flow | -$178.0M-74.5% | -$102.0M+60.8% | -$260.0M-64.6% | -$158.0M-26.4% | -$125.0M+51.6% | -$258.0M-203.5% | -$85.0M-44.1% | -$59.0M |
| Financing Cash Flow | -$446.0M-97.3% | -$226.0M+43.2% | -$398.0M-31.4% | -$303.0M+66.3% | -$898.0M-58.9% | -$565.0M-481.8% | $148.0M+139.8% | -$372.0M |
| Dividends Paid | $108.0M-0.9% | $109.0M-18.0% | $133.0M+20.9% | $110.0M-4.3% | $115.0M+15.0% | $100.0M-13.0% | $115.0M+13.9% | $101.0M |
| Share Buybacks | $237.0M-4.0% | $247.0M-15.1% | $291.0M+28.8% | $226.0M-19.6% | $281.0M-39.2% | $462.0M+103.5% | $227.0M-7.0% | $244.0M |
GWW Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.0%+0.5pp | 39.5%+0.9pp | 38.6%+0.1pp | 38.5%-1.2pp | 39.7%+0.1pp | 39.6%+0.4pp | 39.2%-0.1pp | 39.3% |
| Operating Margin | 16.7%+2.4pp | 14.3%+3.4pp | 11.0%-3.9pp | 14.9%-0.7pp | 15.6%+0.7pp | 14.9%-0.7pp | 15.6%+0.6pp | 15.0% |
| Net Margin | 11.7%+1.5pp | 10.2%+3.9pp | 6.3%-4.3pp | 10.6%-0.5pp | 11.1%-0.1pp | 11.2%+0.1pp | 11.1%+0.2pp | 10.9% |
| Return on Equity | 14.1%+2.0pp | 12.1%+3.8pp | 8.3%-4.9pp | 13.1%-0.6pp | 13.8%-0.4pp | 14.1%+0.3pp | 13.9%-0.5pp | 14.3% |
| Return on Assets | 5.9%+0.8pp | 5.0%+1.7pp | 3.3%-2.1pp | 5.4%-0.1pp | 5.5%+0.2pp | 5.4%+0.1pp | 5.3%-0.3pp | 5.6% |
| Current Ratio | 2.69-0.1 | 2.83+0.1 | 2.72-0.1 | 2.82+0.1 | 2.74+0.3 | 2.49-0.1 | 2.59+0.3 | 2.30 |
| Debt-to-Equity | 0.61-0.0 | 0.63-0.0 | 0.66+0.0 | 0.64-0.0 | 0.65-0.0 | 0.68-0.1 | 0.79+0.1 | 0.70 |
| FCF Margin | 12.0%+5.9pp | 6.1%-1.2pp | 7.3%+2.8pp | 4.4%-7.7pp | 12.1%+8.1pp | 4.0%-7.9pp | 11.9%+4.1pp | 7.8% |
Similar Companies
Frequently Asked Questions
What is WW Grainger's annual revenue?
WW Grainger (GWW) reported $17.9B in total revenue for fiscal year 2025. This represents a 4.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is WW Grainger's revenue growing?
WW Grainger (GWW) revenue grew by 4.5% year-over-year, from $17.2B to $17.9B in fiscal year 2025.
Is WW Grainger profitable?
Yes, WW Grainger (GWW) reported a net income of $1.7B in fiscal year 2025, with a net profit margin of 9.5%.
What is WW Grainger's EBITDA?
WW Grainger (GWW) had EBITDA of $2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does WW Grainger have?
As of fiscal year 2025, WW Grainger (GWW) had $585.0M in cash and equivalents against $2.4B in long-term debt.
What is WW Grainger's gross margin?
WW Grainger (GWW) had a gross margin of 39.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is WW Grainger's operating margin?
WW Grainger (GWW) had an operating margin of 13.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is WW Grainger's net profit margin?
WW Grainger (GWW) had a net profit margin of 9.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does WW Grainger pay dividends?
Yes, WW Grainger (GWW) paid $8.83 per share in dividends during fiscal year 2025.
What is WW Grainger's return on equity (ROE)?
WW Grainger (GWW) has a return on equity of 45.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is WW Grainger's free cash flow?
WW Grainger (GWW) generated $1.3B in free cash flow during fiscal year 2025. This represents a -15.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is WW Grainger's operating cash flow?
WW Grainger (GWW) generated $2.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are WW Grainger's total assets?
WW Grainger (GWW) had $9.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are WW Grainger's capital expenditures?
WW Grainger (GWW) invested $684.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is WW Grainger's current ratio?
WW Grainger (GWW) had a current ratio of 2.83 as of fiscal year 2025, which is generally considered healthy.
What is WW Grainger's debt-to-equity ratio?
WW Grainger (GWW) had a debt-to-equity ratio of 0.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is WW Grainger's return on assets (ROA)?
WW Grainger (GWW) had a return on assets of 19.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is WW Grainger's Altman Z-Score?
WW Grainger (GWW) has an Altman Z-Score of 12.69, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is WW Grainger's Piotroski F-Score?
WW Grainger (GWW) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are WW Grainger's earnings high quality?
WW Grainger (GWW) has an earnings quality ratio of 1.18x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can WW Grainger cover its interest payments?
WW Grainger (GWW) has an interest coverage ratio of 30.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is WW Grainger?
WW Grainger (GWW) scores 64 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.