W.W. Grainger, Inc. (GWW) Income Statement
GWW 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGWW revenue and net income
Where GWW's revenue goes
2025Each bar shows an amount and its share of revenue. GWW kept 9.5% of revenue as net income.
GWW profit margins
GWW growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.5% | +5.6% | +8.7% | +6.0% |
| Gross profit | +4.8% | +6.2% | +10.6% | +5.2% |
| Operating income | +2.0% | +6.7% | +21.4% | +7.5% |
| Net income | −10.6% | +3.3% | +19.7% | +8.3% |
| EPS (diluted) | +1.3% | +10.0% | +19.5% | +12.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GWW quarterly EPS vs estimates
Grainger beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 4, 2026 (estimate $11.64).
GWW income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.94B | $17.17B | $16.48B | $15.23B | $13.02B | $11.80B | $11.49B | $11.22B | $10.42B | $10.14B |
| Cost of revenue | $10.93B | $10.48B | $9.98B | $9.38B | $8.30B | $7.56B | $7.09B | $6.87B | $6.33B | $6.02B |
| Gross profit | $7.01B | $6.69B | $6.50B | $5.85B | $4.72B | $4.24B | $4.40B | $4.35B | $4.10B | $4.11B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $4.51B | $4.02B | $3.89B | $3.63B | $3.17B | $3.22B | $3.13B | $3.19B | $2.85B | $2.83B |
| Total operating expenses | $4.32B | $4.05B | $3.93B | $3.63B | $3.17B | $3.22B | $3.13B | $3.19B | $3.05B | $3.00B |
| Operating income | $2.69B | $2.64B | $2.56B | $2.21B | $1.55B | $1.02B | $1.26B | $1.16B | $1.05B | $1.12B |
| Interest income | $81.0M | $77.0M | $93.0M | $93.0M | $87.0M | $93.0M | $79.0M | $6.0M | $2.6M | $717,000 |
| Interest expense | $81.0M | $77.0M | $93.0M | $93.0M | $87.0M | $93.0M | $79.0M | $88.0M | $89.0M | $76.0M |
| Income before taxes | $2.43B | $2.58B | $2.50B | $2.15B | $1.49B | $947.0M | $1.21B | $1.08B | $935.3M | $1.02B |
| Income taxes | $622.0M | $595.0M | $597.0M | $533.0M | $371.0M | $192.0M | $314.0M | $258.0M | $312.9M | $386.2M |
| Net income | $1.71B | $1.91B | $1.83B | $1.55B | $1.04B | $695.0M | $849.0M | $782.0M | $585.7M | $605.9M |
| EBITDA | $2.77B | $2.90B | $2.79B | $2.41B | $1.74B | $1.22B | $1.52B | $1.43B | $1.29B | $1.33B |
| EPS (diluted) | $39.48 | $38.96 | $36.65 | $29.67 | $19.84 | $16.17 | $17.31 | $16.70 | $11.46 | $11.58 |
| Gross margin | 39.1% | 39.0% | 39.4% | 38.4% | 36.2% | 35.9% | 38.3% | 38.7% | 39.3% | 40.6% |
| Operating margin | 15.0% | 15.4% | 15.6% | 14.5% | 11.9% | 8.6% | 11.0% | 10.3% | 10.1% | 11.0% |
| Net margin | 9.5% | 11.1% | 11.1% | 10.2% | 8.0% | 5.9% | 7.4% | 7.0% | 5.6% | 6.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.02B | $4.74B | $4.42B | $4.66B | $4.55B | $4.31B | $4.23B | $4.39B | $4.31B | $4.24B | $4.00B | $4.21B |
| Cost of revenue | $3.04B | $2.85B | $2.68B | $2.86B | $2.80B | $2.60B | $2.56B | $2.67B | $2.62B | $2.57B | $2.43B | $2.55B |
| Gross profit | $1.98B | $1.90B | $1.75B | $1.80B | $1.75B | $1.71B | $1.68B | $1.72B | $1.69B | $1.67B | $1.56B | $1.66B |
| Sales, general & admin | $1.18B | $1.10B | $1.11B | $1.29B | $1.08B | $1.04B | $1.04B | $1.03B | $1.04B | $999.0M | $1.01B | $988.0M |
| Total operating expenses | $1.18B | $1.10B | $1.11B | $1.29B | $1.08B | $1.04B | $1.04B | $1.03B | $1.04B | $999.0M | $1.01B | $988.0M |
| Operating income | $807.0M | $793.0M | $634.0M | $511.0M | $678.0M | $672.0M | $633.0M | $686.0M | $649.0M | $669.0M | $557.0M | $667.0M |
| Interest income | — | — | $20.0M | $20.0M | $20.0M | $21.0M | $17.0M | $19.0M | — | — | — | $22.0M |
| Interest expense | $20.0M | $21.0M | $20.0M | $20.0M | $20.0M | $21.0M | $17.0M | $19.0M | $20.0M | $21.0M | $23.0M | $22.0M |
| Income before taxes | $798.0M | $775.0M | $620.0M | $492.0M | $661.0M | $657.0M | $622.0M | $671.0M | $636.0M | $655.0M | $541.0M | $652.0M |
| Income taxes | $198.0M | $194.0M | $141.0M | $171.0M | $153.0M | $157.0M | $125.0M | $166.0M | $146.0M | $158.0M | $129.0M | $159.0M |
| Net income | $570.0M | $555.0M | $451.0M | $294.0M | $482.0M | $479.0M | $475.0M | $486.0M | $470.0M | $478.0M | $395.0M | $476.0M |
| EBITDA | $884.0M | $858.0M | $704.0M | $577.0M | $745.0M | $739.0M | $701.0M | $749.0M | $716.0M | $732.0M | $621.0M | $729.0M |
| EPS (diluted) | $12.01 | $11.65 | $9.44 | $10.21 | $9.97 | $9.86 | $9.71 | $9.87 | $9.76 | $9.62 | $8.33 | $9.43 |
| Gross margin | 39.5% | 40.0% | 39.5% | 38.6% | 38.5% | 39.7% | 39.6% | 39.2% | 39.3% | 39.4% | 39.1% | 39.3% |
| Operating margin | 16.1% | 16.7% | 14.3% | 11.0% | 14.9% | 15.6% | 15.0% | 15.6% | 15.1% | 15.8% | 13.9% | 15.9% |
| Net margin | 11.4% | 11.7% | 10.2% | 6.3% | 10.6% | 11.1% | 11.2% | 11.1% | 10.9% | 11.3% | 9.9% | 11.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GWW's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GWW financial results
In fiscal year 2025 (ended December 31, 2025), Grainger reported revenue of $17.9 billion, up 4.5% from the year before. It had net income of $1.7 billion (down 10.6%), a net profit margin of 9.5%. Diluted earnings per share came to $39.48. Over five years revenue grew at an average rate of 8.7% a year.
See the GWW stock overview for the latest quote and news, or the GWW chart for price history and technical indicators.
GWW income statement FAQ
What is Grainger's annual revenue?
Grainger reported total revenue of $17.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 4.5% from $17.2 billion the previous year.
Is Grainger profitable?
Yes. Grainger reported net income of $1.7 billion in fiscal 2025, a net profit margin of 9.5%; its operating margin was 15.0%.
What is Grainger's gross margin?
Grainger's gross margin was 39.1% in fiscal 2025: for every $100 of revenue, Grainger kept $39 after the direct cost of its products and services.
How fast is Grainger growing?
Revenue grew 8.7% a year on average over the last five fiscal years, from $11.8 billion to $17.9 billion.
What are Grainger's earnings per share?
Grainger earned $39.48 per diluted share in fiscal 2025, compared with $38.96 a year earlier.
When will Grainger report its next earnings?
Grainger is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Grainger's fiscal year end?
Grainger's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.