WW Grainger (GWW) financial statements
WW Grainger reported revenue of $17.9B in fiscal 2025, up 6.5% a year over 9 years.
Net income was $1.7B and the operating margin 13.9%, against 11.0% in 2016.
Free cash flow was $1.3B, and the company returned $467M in dividends and $1.0B in net buybacks.
The diluted share count fell 21% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from WW Grainger's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.1B | $10.4B | $11.2B | $11.5B | $11.8B | $13.0B | $15.2B | $16.5B | $17.2B | $17.9B |
| Cost of revenue | $6.0B | $6.3B | $6.9B | $7.1B | $7.6B | $8.3B | $9.4B | $10.0B | $10.4B | $10.9B |
| Gross profit | $4.1B | $4.1B | $4.3B | $4.4B | $4.2B | $4.7B | $5.8B | $6.5B | $6.8B | $7.0B |
| Selling, general and admin | $3.0B | $3.1B | $3.2B | $3.1B | $3.2B | $3.2B | $3.6B | $3.9B | $4.1B | $4.5B |
| Operating income | $1.1B | $1.0B | $1.2B | $1.3B | $1.0B | $1.5B | $2.2B | $2.6B | $2.6B | $2.5B |
| Interest expense | $76M | $89M | $88M | — | — | — | — | $93M | $77M | $81M |
| Pre-tax income | $1.0B | $936M | $1.1B | $1.2B | $947M | $1.5B | $2.1B | $2.5B | $2.6B | $2.4B |
| Income tax | $386M | $313M | $258M | $314M | $192M | $371M | $533M | $597M | $595M | $622M |
| Net income | $606M | $586M | $782M | $849M | $695M | $1.0B | $1.5B | $1.8B | $1.9B | $1.7B |
| EPS (diluted) | $9.87 | $10.02 | $13.73 | $15.32 | $12.82 | $19.84 | $30.06 | $36.23 | $38.71 | $35.40 |
| Diluted shares | 61M | 58M | 56M | 55M | 54M | 52M | 51M | 50M | 49M | 48M |
| Gross margin | 40.6% | 39.3% | 38.7% | 38.3% | 35.9% | 36.2% | 38.4% | 39.4% | 39.4% | 39.1% |
| Operating margin | 11.0% | 9.9% | 10.3% | 11.0% | 8.6% | 11.9% | 14.5% | 15.6% | 15.4% | 13.9% |
| Net margin | 6.0% | 5.6% | 7.0% | 7.4% | 5.9% | 8.0% | 10.2% | 11.1% | 11.1% | 9.5% |
Balance sheet
Fiscal years, from WW Grainger's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $274M | $327M | $538M | $360M | $585M | $241M | $325M | $660M | $1.0B | $585M |
| Receivables | $1.2B | $1.3B | $1.4B | $1.4B | $1.5B | $1.8B | $2.1B | $2.2B | $2.2B | $2.3B |
| Inventory | $1.4B | $1.4B | $1.5B | $1.7B | $1.7B | $1.9B | $2.3B | $2.3B | $2.3B | $2.4B |
| Total current assets | $3.0B | $3.2B | $3.6B | $3.6B | $3.9B | $4.0B | $5.0B | $5.3B | $5.7B | $5.5B |
| Property, plant and equipment | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.4B | $1.5B | $1.7B | $1.9B | $2.3B |
| Goodwill | $527M | $544M | $424M | $429M | $391M | $384M | $371M | $370M | $355M | $360M |
| Total assets | $5.7B | $5.8B | $5.9B | $6.0B | $6.3B | $6.6B | $7.6B | $8.1B | $8.8B | $9.0B |
| Total current liabilities | $1.6B | $1.5B | $1.5B | $1.7B | $1.4B | $1.5B | $2.0B | $1.8B | $2.3B | $1.9B |
| Long-term debt | $1.8B | $2.2B | $2.1B | $1.9B | $2.4B | $2.4B | $2.3B | $2.3B | $2.3B | $2.4B |
| Total liabilities | $3.8B | $4.0B | $3.8B | $3.9B | $4.2B | $4.4B | $4.9B | $4.7B | $5.1B | $4.8B |
| Shareholders' equity | $1.8B | $1.7B | $1.9B | $1.9B | $1.8B | $1.9B | $2.4B | $3.1B | $3.4B | $3.7B |
| Net debt | $1.6B | $2.0B | $1.6B | $1.8B | $1.8B | $2.1B | $2.0B | $1.6B | $1.7B | $1.9B |
Cash flow
Fiscal years, from WW Grainger's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.0B | $1.1B | $1.1B | $1.0B | $1.1B | $937M | $1.3B | $2.0B | $2.1B | $2.0B |
| Capital spending | $284M | $237M | $239M | $221M | $197M | $255M | $256M | $445M | $541M | $684M |
| Free cash flow | $740M | $820M | $818M | $821M | $926M | $682M | $1.1B | $1.6B | $1.6B | $1.3B |
| Stock-based compensation | $36M | $33M | $47M | $40M | $46M | $42M | $48M | $62M | $62M | $64M |
| Dividends paid | $303M | $304M | $316M | $328M | $338M | $357M | $370M | $392M | $421M | $467M |
| Share buybacks (net) | -$790M | -$605M | -$425M | -$700M | -$601M | -$695M | -$603M | -$850M | -$1.2B | -$1.0B |
| Net borrowing | $293M | -$8M | -$96M | -$42M | $214M | -$8M | $1M | -$30M | $464M | -$415M |
| Free cash flow margin | 7.3% | 7.9% | 7.3% | 7.1% | 7.8% | 5.2% | 7.1% | 9.6% | 9.1% | 7.4% |
| Dividends per share | $4.98 | $5.24 | $5.59 | $5.97 | $6.29 | $6.84 | $7.24 | $7.82 | $8.59 | $9.73 |
Questions
What was WW Grainger's revenue in 2025?
$17.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does WW Grainger generate?
$1.3B in fiscal 2025 (operating cash flow minus capital spending).
From WW Grainger's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.