Graco (GGG) financial statements
Graco reported revenue of $2.2B in fiscal 2025, up 6.0% a year over 9 years.
Net income was $522M and the operating margin 27.9%, against 9.1% in 2016.
Free cash flow was $638M, and the company returned $183M in dividends and $423M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Graco's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B | $1.5B | $1.7B | $1.6B | $1.7B | $2.0B | $2.1B | $2.2B | $2.1B | $2.2B |
| Cost of revenue | $618M | $680M | $771M | $786M | $795M | $954M | $1.1B | $1.0B | $991M | $1.1B |
| Gross profit | $711M | $795M | $883M | $860M | $855M | $1.0B | $1.1B | $1.2B | $1.1B | $1.2B |
| Research and development | $60M | $59M | $63M | $68M | $72M | $80M | $80M | $83M | $87M | $82M |
| Selling, general and admin | $338M | $357M | $383M | $368M | $356M | $423M | $405M | $432M | $465M | $480M |
| Operating income | $121M | $379M | $436M | $424M | $392M | $531M | $573M | $647M | $570M | $625M |
| Interest expense | $18M | $16M | $14M | $13M | $11M | $10M | $10M | $5M | $3M | $3M |
| Pre-tax income | $97M | $347M | $411M | $406M | $375M | $508M | $566M | $609M | $589M | $641M |
| Income tax | $56M | $95M | $70M | $62M | $44M | $69M | $105M | $102M | $103M | $119M |
| Net income | $41M | $252M | $341M | $344M | $330M | $440M | $461M | $507M | $486M | $522M |
| EPS (diluted) | $0.24 | $1.45 | $1.97 | $2.00 | $1.92 | $2.52 | $2.66 | $2.94 | $2.82 | $3.08 |
| Diluted shares | 171M | 174M | 173M | 172M | 172M | 175M | 173M | 172M | 172M | 169M |
| Gross margin | 53.5% | 53.9% | 53.4% | 52.2% | 51.8% | 52.0% | 49.3% | 52.9% | 53.1% | 52.5% |
| Operating margin | 9.1% | 25.7% | 26.4% | 25.8% | 23.7% | 26.7% | 26.7% | 29.5% | 27.0% | 27.9% |
| Net margin | 3.1% | 17.1% | 20.6% | 20.9% | 20.0% | 22.1% | 21.5% | 23.1% | 23.0% | 23.3% |
Balance sheet
Fiscal years, from Graco's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $52M | $104M | $132M | $221M | $379M | $624M | $339M | $538M | $675M | $624M |
| Receivables | $218M | $266M | $275M | $267M | $315M | $325M | $346M | $354M | $363M | $394M |
| Inventory | $202M | $239M | $284M | $273M | $286M | $382M | $477M | $438M | $405M | $401M |
| Total current assets | $503M | $643M | $723M | $791M | $1.0B | $1.4B | $1.2B | $1.4B | $1.5B | $1.5B |
| Property, plant and equipment | $190M | $204M | $229M | $326M | $351M | $451M | $608M | $742M | $772M | $755M |
| Goodwill | $260M | $279M | $294M | $308M | $348M | $356M | $368M | $370M | $487M | $585M |
| Total assets | $1.2B | $1.4B | $1.5B | $1.7B | $2.0B | $2.4B | $2.4B | $2.7B | $3.1B | $3.3B |
| Total current liabilities | $178M | $246M | $300M | $285M | $321M | $507M | $400M | $395M | $406M | $467M |
| Long-term debt | $306M | $226M | $266M | $164M | $150M | $75M | $75M | $0 | — | — |
| Total liabilities | $669M | $668M | $721M | $667M | $704M | $734M | $579M | $498M | $555M | $620M |
| Shareholders' equity | $574M | $723M | $752M | $1.0B | $1.3B | $1.7B | $1.9B | $2.2B | $2.6B | $2.7B |
| Net debt | $253M | $122M | $134M | -$57M | -$229M | -$474M | -$264M | -$538M | -$675M | -$622M |
Cash flow
Fiscal years, from Graco's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $276M | $338M | $368M | $419M | $394M | $457M | $377M | $651M | $622M | $684M |
| Capital spending | $42M | $40M | $54M | $128M | $71M | $134M | $201M | $185M | $107M | $46M |
| Free cash flow | $234M | $298M | $314M | $291M | $323M | $323M | $176M | $466M | $515M | $638M |
| Stock-based compensation | $21M | $24M | $26M | $27M | $25M | $25M | $25M | $30M | $32M | $34M |
| Dividends paid | $73M | $80M | $89M | $106M | $117M | $127M | $142M | $158M | $172M | $183M |
| Share buybacks (net) | -$50M | -$90M | -$245M | -$9M | -$102M | $0 | -$233M | -$102M | -$31M | -$423M |
| Net borrowing | -$87M | -$80M | $38M | -$102M | $0 | -$70,000 | -$75M | -$65M | -$766,000 | -$7M |
| Free cash flow margin | 17.6% | 20.2% | 19.0% | 17.7% | 19.6% | 16.3% | 8.2% | 21.2% | 24.4% | 28.5% |
| Dividends per share | $0.43 | $0.46 | $0.51 | $0.62 | $0.68 | $0.73 | $0.82 | $0.92 | $1.00 | $1.08 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for GGG.
Open GGG in InvestinglyQuestions
What was Graco's revenue in 2025?
$2.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Graco generate?
$638M in fiscal 2025 (operating cash flow minus capital spending).
From Graco's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.