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W.W. GraingerGWW

Legal name
W.W. Grainger, Inc.
Sector
Other
Industry
Wholesale-Durable Goods
Exchange
NYSE

Stock Price $GWW

Latest filings

You are here#36 of 86 in Industrials by market cap

Filing record · 2016–202610-K1110-Q328-K92

GWW filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 92 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’17Oct ’17
  2. Leadership change8-K · Jan ’21Jan ’21
  3. Leadership change8-K · Feb ’23Feb ’23
  4. FY2024 annual report10-K · Feb ’25Feb ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $17.94B
YoY changeLargest recent move+16.9%in FY22Latest +4.5%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All GWW Financial Metrics56 metrics

Income Statement14

Balance Sheet22

Cash Flow15

Per Share5

02—Overview

W.W. Grainger Financial Overview 2021–2025

Updated Nov 3, 2026

W.W. Grainger proved the resilience of its dual-engine distribution model in FY2025, absorbing a $186 milliona loss from its U.K. market exit while still driving a 16% sales surge in its Endless Assortment segment. This structural transition forms the core investment thesis: the industrial distributor has successfully layered a high-growth online customer acquisition engine on top of its established, cash-generating North American supply network. The strategy has yielded substantial top-line expansion, as net sales grew from $13.02 billion in FY2021 to $17.94 billion in FY2025.

While elevated payroll and marketing costs pushed FY2025 operating earnings down 5.4% to $2.50 billionb, the company's underlying capital allocation remained highly shareholder-friendly. Grainger executed $1.05 billion in stock repurchases and paid $467 million in dividends during the year. Operational leverage then sharply rebounded by Q1 2026, with operating earnings jumping 18.0% alongside a 10.1% revenue increase to $4.74 billion. Investors have heavily rewarded this predictable cash flow and steady margin profile. At the close of FY2025, the market valued the stock at $1009.05 per share, commanding a 28.5x price-to-earnings multiple against the year's base of $35.40 in earnings per share.

Recent Developments (Q1 and Q2 2026)

Grainger raised full-year guidance twice. After Q1 2026, adjusted EPS guidance moved to $44.25–$46.25c. After Q2 2026, it rose again to $45.50–$47.25, with operating margin at 15.8%–16.2%. Q2 sales grew 10.3% to $5.02 billion, and operating margin reached 16.1%, up 120 bps. That figure includes a $43 million tariff refund benefit. Gross margin rose to 39.5% from 38.5%. Endless Assortment grew 20.6% organically in Q2.

On August 2, 2026, CFO Deidra Merriwether announced her resignation, effective September 4. Controller Laurie Thomson becomes interim CFO while a search runs.

Bull case: margins and guidance are rising, and operating cash flow was $1.18 billiond in the first half. Bear case: the stock traded at 36.7x earnings as of the Q2 2026 report date (August 3, 2026), not today. Receivables absorbed $207 million in Q2, and the CFO exit adds execution risk.

What to watch: permanent CFO appointment; receivables and cash conversion without the tariff refund benefit

03—Filings

Recent SEC Filings

  1. 8-KW.W. Grainger 8-K Report, Financial Results (Nov 4, 2026)
  2. 8-KW.W. Grainger 8-K Report, Financial Results (Aug 4, 2026)W.W. Grainger reported second quarter 2026 results that beat the prior-year period on nearly every measure. Net sales rose 10.3% to $5.0 billion, or 13.7% on a daily, organic constant currency basis after normalizing for the U.K. market exit and foreign currency. Diluted EPS climbed 20.5% to $12.01, operating margin expanded 120 basis points to 16.1%, and free cash flow was $333 million. Both segments contributed, with High-Touch Solutions - N.A. sales up 11.9% and Endless Assortment up 13.5% (20.6% organic constant currency), driven by MonotaRO and Zoro. Quality of earnings deserves scrutiny. Gross margin and operating margin were helped by a $43 million benefit from IEEPA tariff refunds on directly imported products, and by a benefit tied to the U.K. exit. These are partly non-recurring, so investors should separate them from the underlying run-rate. Operating cash flow of $444 million was held back by a $207 million increase in receivables in the quarter, and the balance sheet shows accounts receivable up roughly 21% since year-end. Management raised full-year 2026 guidance across most metrics. Diluted adjusted EPS is now expected at $45.50 to $47.25, up from $44.25 to $46.25, and operating margin at 15.8% to 16.2%. The company also trimmed its share buyback range to $0.975 to $1.05 billion. Guidance is on an adjusted basis, and the reconciliation to GAAP is not provided, so the outlook should be read with that limitation in mind.
  3. 8-KW.W. Grainger 8-K Report, Executive Changes (Aug 3, 2026)W.W. Grainger, Inc. (GWW) has announced a significant change in its financial leadership through an 8-K filing dated August 3, 2026. Deidra C. Merriwether, the Senior Vice President and Chief Financial Officer, has decided to resign from her position, effective September 4, 2026, to pursue a new opportunity. The company has emphasized that her departure is amicable and not related to any disagreements regarding the company's operations, financial reporting, or internal controls. In response to this transition, the Board of Directors has appointed Laurie R. Thomson as the interim Chief Financial Officer, commencing September 5, 2026. Ms. Thomson, who currently serves as Vice President, Controller, brings extensive experience within Grainger and a strong accounting background. The company has also initiated a search process for a permanent CFO. This announcement provides clarity on leadership changes within the finance department and outlines the interim arrangements.
  4. 8-KW.W. Grainger 8-K Report, Financial Results (May 8, 2026)Grainger reported first quarter 2026 results that beat on growth, margins and earnings, and raised its full-year 2026 outlook. Net sales rose 10.1% to $4.74 billion (12.2% on a daily, organic constant currency basis, excluding the exit from the U.K. market and FX effects). Operating margin expanded 110 basis points to 16.7%, and diluted EPS grew 18.2% to $11.65, aided by a 2.6% reduction in diluted share count (48.3M to 47.4M) and a higher tax rate of 25.1%. Growth was broad-based: High-Touch Solutions - N.A. sales rose 10.0% on a constant currency basis, while the Endless Assortment segment (MonotaRO and Zoro) grew 21.9% on the same basis. Cash generation was solid at $739 million of operating cash flow and $569 million of free cash flow, though working capital absorbed cash, with accounts receivable up $303 million. The company returned $345 million to shareholders through $108 million of dividends and $237 million of buybacks, and announced a 10% dividend increase. Cash rose to $695 million, and total debt is roughly $2.4 billion, with long-term debt increasing modestly. Management raised 2026 guidance: adjusted diluted EPS is now $44.25 to $46.25 (up from $42.25 to $44.75), net sales is $19.2 to $19.6 billion, and daily organic constant currency sales growth is 9.5% to 12.0%. Operating margin guidance was lifted to 15.6% to 16.0%, while gross margin, capex, buybacks and the tax rate were held steady. Note that the Q1 results were reported as consistent on a reported and adjusted basis, and that part of the sales and margin strength reflects the lapping of the U.K. exit and divestitures, so underlying organic momentum should be assessed carefully.
  5. 8-KW.W. Grainger 8-K Report, Shareholder Vote Results (May 1, 2026)This 8-K filing reports on the outcomes of W.W. Grainger, Inc.'s (GWW) annual shareholder meeting held on April 29, 2026. The key takeaway for investors is the strong endorsement of the company's slate of directors, with all management nominees for the board of directors receiving overwhelming support. Additionally, shareholders ratified the appointment of Ernst & Young LLP as the independent auditor for fiscal year 2026 and approved, on an advisory basis, the compensation of the company's Named Executive Officers. These results indicate shareholder confidence in the current leadership and financial oversight of the company.
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04—See also

Related Companies

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