At a glance
WW Grainger Inc is worth $64.89B, about 39 times its fiscal 2025 earnings. Revenue grew 4.5% to $17.94B in fiscal 2025, with 9.5% kept as profit; over 5 years it has grown 8.7% a year. It pays a 0.69% dividend yield, raised every year for at least 9 years, and returned $6.40B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +41.9% over the past year with dividends reinvested and +25.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 32.5% in the 2020 crash (S&P 500: 33.7%) and 16.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 1 month after the lows.
The business in plain English
W.W. Grainger, incorporated in Illinois in 1928, distributes maintenance, repair and operating (MRO) supplies. These are everyday products that keep workplaces running, such as safety gear, pumps, plumbing, cleaning supplies and hand tools. It purchases goods from more than 5,000 suppliers and resells them at a markup. Its gross margin, the share of revenue left after the cost of goods, was 39.1% in fiscal 2025. It serves more than 4.6 million customers, from small firms to large corporations and government bodies.
The larger segment, High-Touch Solutions North America, produced about $14.0 billion, or 78% of fiscal 2025 revenue of $17.9 billion. It covers Grainger-branded businesses in the U.S., Canada, Mexico and Puerto Rico. It serves mid-size and large customers through sales representatives, about 2 million products, next-day delivery and KeepStock, an on-site inventory service. About 19% of U.S. sales of stocked products in this segment carried Grainger's own brands, such as DAYTON and WESTWARD.
The Endless Assortment segment, about $3.6 billion or 20% of revenue, runs online stores aimed at smaller and mid-size businesses. They are Zoro in the U.S., with about 13 million products, and majority-owned MonotaRO in Japan, with about 29 million. The U.S. supplied about 81% of sales and Japan 12%. Grainger left the U.K. in late 2025, completing the sale of its Cromwell business and closing Zoro U.K.
Price history
The interactive chart needs JavaScript.
GWW +41.9% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| High-Touch Solutions N.A. | $13.99B | 78% |
| Endless Assortment | $3.63B | 20.2% |
By geography
| UNITED STATES | $14.44B | 80.5% |
| Japan | $2.17B | 12.1% |
| Canada | $683.0M | 3.8% |
| Other foreign countries | $645.0M | 3.6% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $5.02B, up 10.3% from a year earlier, and net income was $570.0M (+18.3%).
- For fiscal 2025, revenue was $17.94B (+4.5% year over year; +8.7% a year from FY2020 to FY2025) with a 9.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +8.7% good |
|---|---|
| Operating margin | 13.9% watch |
| Free cash flow margin | 7.4% watch |
| Return on equity (FY2025) | 45.7% good |
| Return on assets (FY2025) | 19% good |
| Net cash (cash minus debt) | $-1.82B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $11.80B | $695.0M | $926.0M |
| FY2021 | $13.02B | $1.04B | $682.0M |
| FY2022 | $15.23B | $1.55B | $1.08B |
| FY2023 | $16.48B | $1.83B | $1.59B |
| FY2024 | $17.17B | $1.91B | $1.57B |
| FY2025 | $17.94B | $1.71B | $1.33B |
Valuation snapshot
| Market value | $64.89B |
|---|---|
| P/E ratio | 38.9 |
| Dividend yield | 0.69% |
Rank among 1514 US companies
Market value at each year end
WW Grainger’s market value went from $13.84B at the end of 2016 to $64.89B on Nov 2, 2026, about 4.7 times as much; since the end of 2025 it is up 35%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $64.89B | +35.2% |
| 2025 | $47.98B | -6.5% |
| 2024 | $51.33B | +24.8% |
| 2023 | $41.13B | +46.3% |
| 2022 | $28.11B | +5.3% |
| 2021 | $26.70B | +21.8% |
| 2020 | $21.91B | +20.2% |
| 2019 | $18.23B | +14.7% |
| 2018 | $15.90B | +18.1% |
| 2017 | $13.46B | -2.7% |
| 2016 | $13.84B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| GWW price data to Nov 2, 2026 | +37.3% | +41.9% | +23.1% | +25.2% | +22.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +37.3% |
| 2025 | -3.4% |
| 2024 | +28.2% |
| 2023 | +50.5% |
| 2022 | +8.7% |
| 2021 | +28.8% |
| 2020 | +22.8% |
| 2019 | +22.3% |
| 2018 | +21.7% |
| 2017 | +4.4% |
| 2016 | +17.2% |
| 2015 | -18.9% |
| 2014 | +1.5% |
| 2013 | +28.0% |
| 2012 | +9.8% |
| 2011 | +37.9% |
| 2010 | +45.3% |
| 2009 | +25.4% |
| 2008 | -8.2% |
| 2007 | +27.2% |
| 2006 | -0.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 33.4% over that stretch · deepest drop along the way 35.3%, back to its old high 10.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 31.8% over that stretch · deepest drop along the way 32.5%, back to its old high 2.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 0.2% over that stretch · deepest drop along the way 16.9%, back to its old high 1.1 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 5 sales ($386K).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 12, 2026 | Laurie R Thomson VP, Controller | sell | $295K |
| May 12, 2026 | Laurie R Thomson VP, Controller | sell | $28K |
| May 12, 2026 | Laurie R Thomson VP, Controller | sell | $25K |
| May 12, 2026 | Laurie R Thomson VP, Controller | sell | $25K |
| May 12, 2026 | Laurie R Thomson VP, Controller | sell | $12K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 6.99% | Mar 31, 2026 |
| Susan Slavik Williams | 5.7% | Dec 31, 2024 |
ETFs with the most weight in GWW
| FCTE SMI 3Fourteen Full-Cycle Trend ETF | 5.23% |
| PRN Invesco Dorsey Wright Industrials Momentum ETF | 4.27% |
| NUMG Nuveen ESG Mid-Cap Growth ETF | 4.27% |
| BCUS Bancreek U.S. Large Cap ETF | 4.15% |
| GGTL Gabelli Global Technology Leaders ETF | 3.01% |
| LEAD Siren DIVCON Leaders Dividend ETF | 2.69% |
| LRGE ClearBridge Large Cap Growth ESG ETF | 2.33% |
| SEIQ SEI Enhanced U.S. Large Cap Quality Factor ETF | 2.11% |
What could go wrong
- Supply chain trouble could break delivery promises. Same-day and next-day delivery are central to Grainger's strategy. Storms, labor strikes, pandemics, wars or trade barriers could delay products, raise freight costs, cost it sales or hurt its reputation.
- Industrial slowdowns can cut customer orders. Demand rises and falls with customers' production and capital spending. In a downturn, customers may idle plants, delay orders or pay late, putting pressure on Grainger's prices and payment terms.
- Tariffs and costs it cannot pass on. Tariffs, product shortages and supplier price increases, plus inflation in wages, fuel and freight, could squeeze margins if Grainger cannot raise its own prices quickly enough.
- Rivals include some of its own suppliers. Grainger competes with manufacturers that supply customers directly, other distributors, retailers and online businesses, from large distributors and eCommerce retailers to small local firms. Tougher competition could raise costs or reduce demand.
- Online growth and AI bring new risks. Growing online channels such as Zoro and MonotaRO bring payment and transaction risks. Grainger also warns that artificial intelligence (AI) could reshape competition in its industry and create legal and reputational risks.
- Currency swings affect Japan and Canada results. About 12% of fiscal 2025 sales came from Japan and about 4% from Canada. If the yen or Canadian dollar weakens against the U.S. dollar, those sales translate into fewer reported dollars.
Recent events
- Quarterly results released
- Executive or board change
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Bylaws or fiscal year changed
- Quarterly results released
For income and retirement investors
Grainger's regular dividend has risen for at least nine straight years through fiscal 2025, and the streak may be longer. Dividends per share grew from $5.94 in fiscal 2020 to $8.83 in fiscal 2025, about 8.3% a year. Even so, fiscal 2025 dividends used 27.4% of earnings and 35.1% of free cash flow (cash from operations after capital spending). The yield was 0.71% as of October 28, 2026, so starting income is small. Grainger spends more on share repurchases, which shrink the share count: $4.4 billion over fiscal 2021–2025, versus $2.0 billion in dividends. Shares outstanding fell 8.6% from September 2021 to July 2026.
In the 2008 financial crisis, the shares fell 35.3% and recovered by October 2009. They lost 32.5% in the 2020 COVID crash but were back by May 2020. In the 2022 stock market slump, they were roughly flat from the market's peak to its trough, despite a 16.9% dip. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Grainger make money?
Grainger makes money by distributing maintenance, repair and operating (MRO) supplies, such as safety gear, pumps, cleaning products and hand tools. Its more than 4.6 million customers range from small businesses to large corporations and government bodies. It purchases products from more than 5,000 suppliers and resells them at a markup. Its gross margin, the share of revenue left after the cost of goods, was 39.1% in fiscal 2025. The High-Touch Solutions North America segment produced 78% of revenue, and the online Endless Assortment segment about 20%.
Does Grainger raise its dividend every year?
Yes. Grainger has raised its regular dividend for at least nine years in a row through fiscal 2025, and the streak may be longer. Dividends totaled $8.83 per share in fiscal 2025, up from $5.94 in fiscal 2020, or about 8.3% growth a year. Fiscal 2025 dividends used 27.4% of earnings and 35.1% of free cash flow (cash from operations after capital spending). The yield was low, though: 0.71% as of October 28, 2026.
What are Zoro and MonotaRO?
They are Grainger's online stores. Together they form its Endless Assortment segment, about $3.6 billion or 20% of fiscal 2025 revenue. Zoro operates mainly in the U.S. and offers about 13 million products. It ships from Grainger's North American distribution centers or directly from other suppliers. MonotaRO, a majority-owned subsidiary in Japan, offers about 29 million products. Majority-owned means outside shareholders own the rest. Both target smaller and mid-size businesses that want simple online ordering and clear prices. Japan produced 12.1% of Grainger's fiscal 2025 sales.
Is Grainger still growing?
Yes on sales, though profit dipped in fiscal 2025. Revenue rose 4.5% to $17.9 billion that year and grew about 8.7% a year from fiscal 2020 to 2025. Net income fell 10.6% to $1.7 billion, and earnings per share fell from $38.71 to $35.40. Growth picked up in the quarter ended June 30, 2026, when revenue rose 10.3% and net income rose 18.3% from a year earlier.
How has Grainger stock performed over the long term?
Its long-term record is strong, with sharp drops along the way. As of October 28, 2026, the share price had risen about 22.3% a year over 10 years (646% in total) and 26.7% a year over five years. It fell 3.4% in 2025, and its deepest drop over about 21 years of price history was 41.6%. The price-to-earnings ratio is the share price divided by a year's earnings per share. On fiscal 2025 earnings it was 37.9. Past returns do not predict future ones.