NYSE: GWW
W. W. Grainger
Industrials · Wholesale-Durable Goods
52-week range
$906.52$1,419.91
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$64.1B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $13.7B |
| FY2017, ended Dec 31, 2017 | $13.3B |
| FY2018, ended Dec 31, 2018 | $15.7B |
| FY2019, ended Dec 31, 2019 | $18.2B |
| FY2020, ended Dec 31, 2020 | $21.4B |
| FY2021, ended Dec 31, 2021 | $26.5B |
| FY2022, ended Dec 31, 2022 | $27.9B |
| FY2023, ended Dec 31, 2023 | $40.7B |
| FY2024, ended Dec 31, 2024 | $50.8B |
| FY2025, ended Dec 31, 2025 | $47.8B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $64.1B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$18.8B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $10.1B |
| FY2017, ended Dec 31, 2017 | $10.4B |
| FY2018, ended Dec 31, 2018 | $11.2B |
| FY2019, ended Dec 31, 2019 | $11.5B |
| FY2020, ended Dec 31, 2020 | $11.8B |
| FY2021, ended Dec 31, 2021 | $13.0B |
| FY2022, ended Dec 31, 2022 | $15.2B |
| FY2023, ended Dec 31, 2023 | $16.5B |
| FY2024, ended Dec 31, 2024 | $17.2B |
| FY2025, ended Dec 31, 2025 | $17.9B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $18.8B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $606M | $740M |
| FY2017, ended Dec 31, 2017 | $586M | $820M |
| FY2018, ended Dec 31, 2018 | $782M | $818M |
| FY2019, ended Dec 31, 2019 | $849M | $821M |
| FY2020, ended Dec 31, 2020 | $695M | $926M |
| FY2021, ended Dec 31, 2021 | $1.04B | $682M |
| FY2022, ended Dec 31, 2022 | $1.55B | $1.08B |
| FY2023, ended Dec 31, 2023 | $1.83B | $1.59B |
| FY2024, ended Dec 31, 2024 | $1.91B | $1.57B |
| FY2025, ended Dec 31, 2025 | $1.71B | $1.33B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.87B | $1.51B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$589M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $274M |
| FY2017, ended Dec 31, 2017 | $327M |
| FY2018, ended Dec 31, 2018 | $538M |
| FY2019, ended Dec 31, 2019 | $360M |
| FY2020, ended Dec 31, 2020 | $585M |
| FY2021, ended Dec 31, 2021 | $241M |
| FY2022, ended Dec 31, 2022 | $325M |
| FY2023, ended Dec 31, 2023 | $660M |
| FY2024, ended Dec 31, 2024 | $1.04B |
| FY2025, ended Dec 31, 2025 | $585M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $589M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$2.41B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.27B |
| FY2017, ended Dec 31, 2017 | $2.34B |
| FY2018, ended Dec 31, 2018 | $2.22B |
| FY2019, ended Dec 31, 2019 | $2.21B |
| FY2020, ended Dec 31, 2020 | $2.40B |
| FY2021, ended Dec 31, 2021 | $2.36B |
| FY2022, ended Dec 31, 2022 | $2.32B |
| FY2023, ended Dec 31, 2023 | $2.30B |
| FY2024, ended Dec 31, 2024 | $2.78B |
| FY2025, ended Dec 31, 2025 | $2.49B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $2.41B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 19.9% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.47.1M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 58.8M |
| FY2017, ended Dec 31, 2017 | 56.1M |
| FY2018, ended Dec 31, 2018 | 55.7M |
| FY2019, ended Dec 31, 2019 | 53.7M |
| FY2020, ended Dec 31, 2020 | 52.4M |
| FY2021, ended Dec 31, 2021 | 51.1M |
| FY2022, ended Dec 31, 2022 | 50.2M |
| FY2023, ended Dec 31, 2023 | 49.2M |
| FY2024, ended Dec 31, 2024 | 48.2M |
| FY2025, ended Dec 31, 2025 | 47.4M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 47.1M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $931M more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $790M | $36.0M |
| FY2017, ended Dec 31, 2017 | $605M | $33.0M |
| FY2018, ended Dec 31, 2018 | $425M | $47.0M |
| FY2019, ended Dec 31, 2019 | $700M | $40.0M |
| FY2020, ended Dec 31, 2020 | $601M | $46.0M |
| FY2021, ended Dec 31, 2021 | $695M | $42.0M |
| FY2022, ended Dec 31, 2022 | $603M | $48.0M |
| FY2023, ended Dec 31, 2023 | $850M | $62.0M |
| FY2024, ended Dec 31, 2024 | $1.20B | $62.0M |
| FY2025, ended Dec 31, 2025 | $1.04B | $64.0M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $999M | $68.0M |
Revenue (TTM)
$18.8B
+7.8% YoY
Net income (TTM)
$1.87B
−2.7% YoY
Cash
$589M
−1.3% YoY
Total debt
$2.41B
+2.8% YoY
Valuation
At current price- Market Cap
- $64.0B
- P/E
- 34.2×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 3.4×
- Price / Book
- 15.5×
- EV / EBITDA
- 21.4×
Growth
Trailing 12 months- Revenue (TTM)
- $18.8B
- Revenue Growth YoY
- 7.8%
- Revenue CAGR 3Y
- 5.6%
- Revenue CAGR 5Y
- 8.7%
- EPS Growth YoY
- −0.5%
- Net Income Growth YoY
- −2.7%
Profitability
Trailing 12 months- Gross Margin
- 39.4%
- Operating Margin
- 14.6%
- Net Margin
- 9.9%
- FCF Margin
- 8.0%
- Return on Equity
- 47.9%
Earnings
Trailing 12 months- Net Income
- $1.87B
- EPS (diluted)
- $39.23
- EBITDA
- $3.08B
- Operating Income
- $2.75B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $589M
- Total Debt
- $2.41B
- Net Debt
- $1.82B
- Total Assets
- $9.62B
- Total Liabilities
- $5.11B
- Shareholders' Equity
- $4.13B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $2.17B
- Capital Expenditure
- $665M
- Free Cash Flow
- $1.51B
Dividends and risk
Last 12 months- Dividend Yield
- 0.7%
- Dividend / Share
- $9.50
- Beta (5Y)
- 1.01
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 7.8% year over year, at $18.8B.
Note
Net margin of 9.9% over the last 12 months.
Note
Net debt of $1.82B is 0.6× EBITDA, a manageable load.
Note
Free cash flow of $1.51B, 8.0% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 19, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K65Mildly positive
65Mildly positive
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 20, 2025 · Read the filing on EDGAR
- Sales rose 4.2% to $17.2 billion and operating earnings rose 2.8% to $2.64 billion. Gross margin held flat at 39.4%.
- The online Endless Assortment segment did better: sales rose 7.5% (12% before currency effects) and operating earnings rose 11.6%.
- Share buybacks rose to $1.2 billion. Grainger issued $500 million of new notes, and debt reached 42.9% of total capital, up from 40.1%.
- For 2025, Grainger plans $450–550 million of capital spending and $1.15–1.25 billion of buybacks. A new risk factor covers AI investment.
Business momentum
Improving
“Net sales of $17,168 million for the year ended December 31, 2024 increased $690 million, or 4%, and on a daily, organic constant currency basis, net sales increased 5% compared to the same period in 2023.”
Outlook
Neutral
“Share repurchases for 2025 are expected to be in the range of $1,150 and $1,250 million.”
Financial stress
Low
“Grainger believes its current balances of cash and cash equivalents, marketable securities and availability under its revolving credit facility will be sufficient to meet its liquidity needs for the next twelve months.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Online segment growing fast with better profits
“Operating earnings of $260 million for the year ended December 31, 2024 increased $27 million, or 12%, compared to the same period in 2023.”
Strong and rising operating cash flow
“Net cash provided by operating activities was $2,111 million and $2,031 million for the year ended December 31, 2024 and 2023, respectively.”
Strong investment-grade credit ratings
“Both credit rating agencies currently rate the Company's corporate credit at investment grade.”
Concerns
Costs growing faster than sales
“Operating margin and adjusted operating margin decreased 20 basis points in 2024.”
Core business growth slowed sharply
“Net sales of $13,720 million for the year ended December 31, 2024 increased $453 million, or 3% compared to the same period in 2023.”
Weak yen reducing reported sales
“Sales growth was partially offset by unfavorable currency exchange of 5% due to changes in the exchange rate between U.S. dollar and the Japanese yen.”
New risks since the previous report
AI investment may not pay off
“Grainger may fail to recoup its investments in AI or improve its financial performance, its competitive position may be harmed, and its business and reputation may be adversely impacted.”
US tariffs and trade retaliation
“Further changes in U.S. trade policy (including new or additional increases in duties or tariffs) and retaliatory actions by U.S. trade partners could result in a worsening of economic conditions.”
Climate rules raising energy and compliance costs
“For instance, California's new climate disclosure requirements and SEC-mandated climate risk reporting could increase compliance burdens and legal exposure.”
Biggest risks named
- Product cost inflation and tariffs
- Supply chain disruption from geopolitical events
- Economic slowdown cutting customer demand
- Competition, including from online rivals and AI shifts
- Currency swings, especially the Japanese yen
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −1.5 | |
| Score | 65 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 19, 2026 | Pro | |||
| 10-K | Feb 20, 2025 | 65 | Improving | None | |
| 10-K | Feb 22, 2024 | 65 | Improving | None | |
| 10-K | Feb 21, 2023 | 71 | Strong improvement | None | |
| 10-K | Feb 23, 2022 | 72 | Strong improvement | None | |
| 10-K | Feb 24, 2021 | 53 | Mixed | 1 medium | |
| 10-K | Feb 20, 2020 | 62 | Improving | 1 medium | |
| 10-K | Feb 28, 2019 | 70 | Strong improvement | 1 medium | |
| 10-K | Feb 26, 2018 | 60 | Mixed | 1 minor | |
| 10-K | Feb 28, 2017 | 53 | Mixed | 3 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 4, 2026. View filings on SEC EDGAR