GWWNYSEWholesale-Durable GoodsFiscal year ends December 31
W.W. GRAINGER, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$1318.06−12.64 (-0.95%)
Close on Oct 19, 2026
- Market cap
- $62.21B
- P/E (TTM)
- 33.6
- Dividend yield
- 0.67%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
39.1%+3.1 pts over 5 years
Operating margin
13.9%+5.3 pts over 5 years
Net margin
9.5%+3.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.5% | +5.6% | +8.7% | +6.0% | |
| Gross profit | +3.7% | +6.2% | +10.6% | +5.2% | |
| Operating income | -5.4% | +4.0% | +19.6% | +6.7% | |
| Net income | -10.6% | +3.3% | +19.7% | +8.3% | |
| EPS, diluted | -8.6% | +5.6% | +22.5% | +11.8% | |
| Free cash flow | -15.2% | +7.3% | +7.5% | +7.2% | |
| Dividend per share | +10.2% | +9.2% | +8.3% | +6.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 29.8% | 37.7% | 48.1% | |
| Return on assets | 10.5% | 11.3% | 19.2% | |
| Current ratio | 1.85 | 2.72 | 2.83 | |
| Debt to equity | 1.25 | 1.31 | 0.67 | |
| Net debt to EBITDA | 1.45× | 1.53× | 0.67× | |
| Interest coverage | 14.6× | – | 30.8× | |
| Inventory turnover | 4.3× | 4.5× | 4.7× | |
| Capex to revenue | 2.8% | 1.7% | 3.8% | |
| Diluted shares | 61M | 54M | 48M |
Where the cash went
Fiscal 2021 to 2025, five years combined
W.W. Grainger generated $8.43B from operations and spent $8.58B on capital expenditure, dividends and share buybacks. 25% of that went back into the business.
Generated
$8.43B
Used
$8.58B
Capital expenditure$2.18B25%Dividends$2.01B23%Share buybacks$4.39B51%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.5%
×Asset turnover2.02×
×Equity multiplier2.51×
=Return on equity, FY202548.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.5% | 2.02× | 2.51× | 48.1% |
| FY2024 | 11.1% | 2.02× | 2.62× | 59.0% |
| FY2023 | 11.1% | 2.09× | 2.83× | 65.9% |
| FY2022 | 10.2% | 2.15× | 3.29× | 71.7% |
| FY2021 | 8.0% | 2.02× | 3.48× | 56.3% |
| FY2020 | 5.9% | 1.92× | 3.34× | 37.7% |
| FY2019 | 7.4% | 1.93× | 3.15× | 45.0% |
| FY2018 | 7.0% | 1.92× | 3.23× | 43.3% |
| FY2017 | 5.6% | 1.81× | 3.30× | 33.6% |
| FY2016 | 6.0% | 1.76× | 2.84× | 29.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.71B
- Cash generatingOperating cash flow above zero$2.02B
- Return on assets improvedROA up on the prior year23.4% → 19.3%
- Earnings backed by cashOperating cash flow above net income$2.02B vs $1.71B
- Less leverageLong-term debt to assets fell25.8% → 26.4%
- Better liquidityCurrent ratio rose2.49 → 2.83
- No dilutionShare count did not rise49M → 48M
- Gross margin improvedGross margin up on the prior year39.36% → 39.06%
- More efficientAsset turnover rose2.11 → 2.03