Income Statement Grainger plc

Equities

GRI

GB00B04V1276

Real Estate Development & Operations

Market Closed - London S.E. Other stock markets 16:35:07 11/07/2025 BST			5-day change	1st Jan Change
205.50 ^GBX	-0.48%		-1.67%	-8.67%

07-10	Jefferies cuts Landsec and British Land	AN
07-09	Grainger leases 60% of Kimmeridge homes project in Oxford	AN

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Published financial data: GRAINGER PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2020	2021	2022	2023	2024
Rental Revenues	99.3M	97.4M	121M	134M	155M
Property Management Fee	7.5M	5.1M	4.4M	5M	8.1M
Other Revenues, Total	107M	146M	153M	128M	127M
Total Revenues	214M	249M	279M	267M	290M
Property Expenses	69.7M	102M	119M	109M	120M
Selling General & Admin Expenses, Total	31M	33.3M	35.8M	36.3M	37.6M
Other Operating Expenses	600K	600K	800K	1.2M	6M
Total Operating Expenses	101M	136M	155M	146M	164M
Operating Income (REIT / Utility Template)	113M	113M	124M	121M	126M
Interest Expense, Total	-31.6M	-31.6M	-31.1M	-30.8M	-38.3M
Interest and Investment Income	5.5M	5.1M	6.1M	6.9M	7.6M
Net Interest Expenses	-26.1M	-26.5M	-25M	-23.9M	-30.7M
Income (Loss) on Equity Invest.	-1.5M	500K	-500K	-400K	-600K
Other Non Operating Income (Expenses)	-2.8M	-3.8M	-3.5M	-3.2M	-10.1M
EBT, Excl. Unusual Items	82.3M	83.6M	95M	93.1M	84.8M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-100K	-
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	2.3M	1.5M	1.7M	3.3M	-5.8M
Asset Writedown	29.8M	76.8M	210M	-68.8M	-32.5M
Other Unusual Items	-3.6M	-9.8M	-8.3M	-100K	-5.9M
EBT, Incl. Unusual Items	111M	152M	299M	27.4M	40.6M
Income Tax Expense	18M	42.6M	69.2M	1.8M	9.4M
Earnings From Continuing Operations	92.8M	110M	229M	25.6M	31.2M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	92.8M	110M	229M	25.6M	31.2M
Net Income - (IS)	92.8M	110M	229M	25.6M	31.2M
Net Income to Common Incl Extra Items	92.8M	110M	229M	25.6M	31.2M
Net Income to Common Excl. Extra Items	92.8M	110M	229M	25.6M	31.2M
Per Share Items
Net EPS - Basic	0.14	0.16	0.31	0.03	0.04
Basic EPS - Continuing Operations	0.14	0.16	0.31	0.03	0.04
Basic Weighted Average Shares Outstanding	649M	678M	740M	740M	738M
Net EPS - Diluted	0.14	0.16	0.31	0.03	0.04
Diluted EPS - Continuing Operations	0.14	0.16	0.31	0.03	0.04
Diluted Weighted Average Shares Outstanding	652M	680M	743M	742M	742M
Normalized Basic EPS	0.08	0.08	0.08	0.08	0.07
Normalized Diluted EPS	0.08	0.08	0.08	0.08	0.07
Dividend Per Share	0.05	0.05	0.06	0.07	0.08
Payout Ratio	36.1	33.61	17.44	178.52	163.46
Supplemental Items
EBITDA	114M	114M	125M	122M	128M
EBITA	113M	113M	124M	121M	126M
EBIT	113M	113M	124M	121M	126M
EBITDAR	114M	114M	125M	122M	128M
Effective Tax Rate - (Ratio)	16.25	28.01	23.17	6.57	23.15
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	15M	7.7M	12.6M	14.6M	6.7M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	3M	34.9M	56.6M	-12.8M	2.7M
Normalized Net Income	51.44M	52.25M	59.38M	58.19M	53M
Interest Capitalized	8.4M	10M	12M	17.5M	11.6M
Interest on Long-Term Debt	16.7M	24.6M	24.7M	31M	31.3M
Non-Cash Pension Expense	0	0	0	-600K	-500K
Supplemental Operating Expense Items
Selling and Marketing Expenses	2.3M	3.1M	4M	2.8M	2.3M
General and Administrative Expenses	28.7M	30.2M	31.8M	33.5M	35.3M
Net Rental Expense, Total	200K	200K	200K	200K	100K
Imputed Operating Lease Interest Expense	47.25K	48.09K	50.82K	53.27K	25.42K
Imputed Operating Lease Depreciation	153K	152K	149K	147K	74.58K
Maintenance & Repair Expenses, Total	14.7M	19.1M	4.4M	5.3M	5.8M
Stock-Based Comp., Other (Total)	1.1M	1.7M	1.7M	2.4M	2.8M
Total Stock-Based Compensation	1.1M	1.7M	1.7M	2.4M	2.8M

Fiscal Period: September	2020	2021	2022	2023	2024
Assets
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	1.78B	2.18B	2.78B	2.96B	3.01B
Total Real Estate Assets	1.78B	2.18B	2.78B	2.96B	3.01B
Cash And Equivalents	369M	318M	95.9M	121M	93.2M
Accounts Receivable, Total	5.7M	6M	5.1M	1.5M	3.3M
Other Receivables	29.4M	45.8M	33.6M	17.9M	24.5M
Investment In Debt and Equity Securities	73.3M	71.7M	69.1M	67M	57.4M
Goodwill	-	-	-	-	-
Other Intangibles, Total	22.5M	500K	500K	1M	1.8M
Other Current Assets, Total	660M	598M	529M	407M	431M
Trading Asset Securities, Total	-	-	-	45.3M	19.8M
Deferred Tax Assets Long-Term (Collected)	7.8M	3.7M	1.2M	3.7M	6.1M
Other Long-Term Assets, Total	42M	48.4M	65M	101M	97.8M
Total Assets	2.99B	3.27B	3.58B	3.72B	3.74B
Liabilities
Current Portion of Long-Term Debt	20.6M	4.5M	40M	-	-
Current Portion of Leases	900K	700K	800K	200K	700K
Long-Term Debt	1.39B	1.35B	1.32B	1.53B	1.59B
Long-Term Leases	1.3M	600K	2.2M	6.9M	6.3M
Accounts Payable, Total	16.4M	16.3M	22.8M	15.9M	19M
Accrued Expenses, Total	44.7M	77.5M	63.8M	84.9M	69.4M
Current Income Taxes Payable	-	-	700K	600K	-
Unearned Revenue, Current	4.1M	6.2M	7.7M	9M	12.2M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	7.5M	9.3M	18.7M	19.3M	26M
Pension & Other Post Retirement Benefits	2.4M	-	-	-	-
Deferred Tax Liability Non-Current	36.7M	69.5M	137M	122M	122M
Other Non Current Liabilities	1.2M	1.1M	1.1M	1.1M	1M
Total Liabilities	1.53B	1.53B	1.61B	1.79B	1.85B
Common Stock, Total	33.8M	37.1M	37.1M	37.2M	37.2M
Additional Paid In Capital	616M	817M	818M	818M	818M
Retained Earnings	820M	876M	1.07B	1.05B	1.02B
Treasury Stock	-3.3M	-1.1M	-900K	-4.8M	-600K
Comprehensive Income and Other	-4M	9.3M	44.7M	32.6M	17M
Total Common Equity	1.46B	1.74B	1.97B	1.93B	1.89B
Minority Interest	-	-	-	-	-
Total Equity	1.46B	1.74B	1.97B	1.93B	1.89B
Total Liabilities And Equity	2.99B	3.27B	3.58B	3.72B	3.74B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	673M	741M	741M	738M	738M
ECS Total Common Shares Outstanding	673M	741M	741M	738M	738M
Book Value / Share	2.17	2.35	2.66	2.61	2.56
Tangible Book Value	1.44B	1.74B	1.97B	1.93B	1.89B
Tangible Book Value Per Share	2.14	2.35	2.65	2.61	2.56
Total Debt	1.41B	1.35B	1.36B	1.54B	1.6B
Net Debt	1.05B	1.04B	1.26B	1.37B	1.49B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.4M	-3.5M	-9.8M	-9.6M	-6.5M
Debt Equivalent Oper. Leases	1.6M	1.6M	1.6M	1.6M	800K
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Equity Method Investments, Total	42M	44.9M	55.2M	91M	91.3M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	657M	595M	454M	392M	332M
Machinery, Total	-	-	-	-	-
Full Time Employees	304	322	342	372	367
Accumulated Allowance for Doubtful Accounts (Supple)	2.4M	2.3M	1.5M	1.5M	1.5M

Fiscal Period: September	2020	2021	2022	2023	2024
Net Income	92.8M	110M	229M	25.6M	31.2M
Depreciation, Depletion & Amortization	800K	900K	900K	1.1M	1.5M
Total Depreciation, Depletion & Amortization	800K	900K	900K	1.1M	1.5M
Amortization of Deferred Charges, Total	700K	300K	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-2.3M	-1.5M	-1.7M	-3.3M	5.8M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	-29.8M	-76.8M	-210M	68.9M	32.5M
(Income) Loss On Equity Investments - (CF)	1.5M	-500K	500K	400K	600K
Stock-Based Compensation (CF)	1.1M	1.7M	1.7M	2.4M	2.8M
Change in Accounts Receivable	9.7M	-6.9M	-1.9M	6.5M	-3.8M
Change In Inventories	29.5M	62.2M	24.8M	61.6M	60.6M
Change in Accounts Payable	3.8M	48M	8.5M	37M	9.9M
Change in Other Net Operating Assets (Collected)	-100K	-200K	8.4M	-	4.5M
Other Operating Activities	-14.6M	11.3M	41.6M	-15.5M	-9M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	93.1M	148M	102M	185M	137M
Acquisition of Real Estate Assets, Total	-208M	-363M	-293M	-308M	-265M
Sale of Real Estate Assets, Total	36.2M	40.3M	20.9M	63.5M	90.2M
Net Sale / Acquisition of Real Estate Assets	-171M	-322M	-272M	-245M	-175M
Cash Acquisitions	-	-	-	-	-
Purchase / Sale of Intangible Assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	2.8M	8M	2.2M	-27.3M	8.3M
Other Investing Activities, Total	-4.7M	-1.6M	-4.4M	-2.2M	-900K
Cash from Investing	-173M	-316M	-274M	-274M	-168M
Long-Term Debt Issued, Total	697M	30M	14.2M	330M	244M
Total Debt Issued	697M	30M	14.2M	330M	244M
Long-Term Debt Repaid, Total	-580M	-77M	-900K	-155M	-185M
Total Debt Repaid	-580M	-77M	-900K	-155M	-185M
Issuance of Common Stock	183M	204M	300K	300K	100K
Repurchase of Common Stock	-100K	-300K	-3.3M	-7.9M	-100K
Common Dividends Paid	-33.5M	-36.8M	-40M	-45.7M	-51M
Common & Preferred Stock Dividends Paid	-33.5M	-36.8M	-40M	-45.7M	-51M
Other Financing Activities, Total	-6.3M	-3.8M	-19.8M	-7.2M	-4.7M
Cash from Financing	260M	116M	-49.5M	114M	3.3M
Foreign Exchange Rate Adjustments	-	-	-	-	-
Net Change in Cash	180M	-51.5M	-222M	25.1M	-27.8M
Supplemental Items
Cash Interest Paid	37.4M	45.6M	42M	46.9M	52.6M
Cash Income Tax Paid (Refund)	25.4M	16.9M	12.3M	-2.7M	12.5M
Net Debt Issued / Repaid	117M	-47M	13.3M	175M	59M
Levered Free Cash Flow	93.39M	136M	147M	160M	23.14M
Unlevered Free Cash Flow	113M	156M	167M	179M	47.08M
Change In Net Working Capital	-40.1M	-82M	-86.8M	-101M	36.1M

Fiscal Period: September	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.51	2.27	2.26	2.06	2.11
Return on Total Capital	2.61	2.38	2.41	2.22	2.27
Return On Equity %	6.91	6.88	12.38	1.31	1.63
Return on Common Equity	6.91	6.88	12.38	1.31	1.63
Margin Analysis
Gross Profit Margin %	67.43	59.18	57.52	59.19	58.53
SG&A Margin	14.49	13.38	12.82	13.59	12.96
EBITDA Margin %	53.04	45.92	44.73	45.56	44.02
EBITA Margin %	52.66	45.56	44.41	45.15	43.5
EBIT Margin %	52.66	45.56	44.41	45.15	43.5
Income From Continuing Operations Margin %	43.36	43.99	82.16	9.58	10.75
Net Income Margin %	43.36	43.99	82.16	9.58	10.75
Net Avail. For Common Margin %	43.36	43.99	82.16	9.58	10.75
Normalized Net Income Margin	24.04	20.99	21.27	21.78	18.27
Levered Free Cash Flow Margin	43.64	54.65	52.82	59.99	7.98
Unlevered Free Cash Flow Margin	52.87	62.59	59.78	67.19	16.23
Asset Turnover
Asset Turnover	0.08	0.08	0.08	0.07	0.08
Fixed Assets Turnover	0.13	0.13	0.11	0.09	0.1
Receivables Turnover (Average Receivables)	8.22	17.52	22.67	42.03	67.88
Inventory Turnover (Average Inventory)	0.1	0.16	0.23	0.26	0.33
Short Term Liquidity
Current Ratio	11.3	8.45	4.29	4.56	4.49
Quick Ratio	4.29	3.23	0.87	1.43	1.11
Operating Cash Flow to Current Liabilities	0.99	1.29	0.66	1.42	1.07
Days Sales Outstanding (Average Receivables)	44.55	20.83	16.1	8.68	5.39
Days Outstanding Inventory (Average Inventory)	3.56K	2.25K	1.61K	1.42K	1.1K
Average Days Payable Outstanding	228.92	151.47	-312.97	149	106.98
Cash Conversion Cycle (Average Days)	3.38K	2.12K	1.94K	1.28K	999.45
Long Term Solvency
Total Debt/Equity	96.7	77.82	69.18	79.88	84.49
Total Debt / Total Capital	49.16	43.76	40.89	44.41	45.8
LT Debt/Equity	95.23	77.52	67.1	79.87	84.45
Long-Term Debt / Total Capital	48.41	43.6	39.66	44.4	45.78
Total Liabilities / Total Assets	51.08	46.86	45.05	48.19	49.4
EBIT / Interest Expense	3.57	3.59	3.99	3.92	3.3
EBITDA / Interest Expense	3.59	3.62	4.02	3.95	3.33
(EBITDA - Capex) / Interest Expense	3.59	3.62	4.02	3.95	3.33
Total Debt / EBITDA	12.46	11.84	10.89	12.66	12.53
Net Debt / EBITDA	9.21	9.06	10.13	11.29	11.64
Total Debt / (EBITDA - Capex)	12.46	11.84	10.89	12.66	12.53
Net Debt / (EBITDA - Capex)	9.21	9.06	10.13	11.29	11.64
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-3.95	16.31	12.17	-4.33	8.61
Gross Profit, 1 Yr. Growth %	5.87	2.08	9.03	-1.56	7.4
EBITDA, 1 Yr. Growth %	7.28	0.7	9.27	-2.56	4.93
EBITA, 1 Yr. Growth %	6.82	0.62	9.35	-2.74	4.64
EBIT, 1 Yr. Growth %	6.82	0.62	9.35	-2.74	4.64
Earnings From Cont. Operations, 1 Yr. Growth %	-19.23	32.25	109.5	-88.84	21.88
Net Income, 1 Yr. Growth %	-19.23	32.25	109.5	-88.84	21.88
Diluted EPS Before Extra, 1 Yr. Growth %	-28.28	26.77	91.93	-88.8	21.39
Normalized Net Income, 1 Yr. Growth %	1.98	1.58	13.64	-2	-8.92
Net Property, Plant and Equip., 1 Yr. Growth %	13.08	22.44	27.49	6.38	1.69
Inventory, 1 Yr. Growth %	-6.09	-9.46	-23.76	-13.57	-15.45
Accounts Receivable, 1 Yr. Growth %	-71.92	5.26	-15	-70.59	120
Total Assets, 1 Yr. Growth %	13.66	10.17	9.38	4	0.55
Common Equity, 1 Yr. Growth %	19.57	20.51	13.1	-1.94	-1.81
Tangible Book Value, 1 Yr. Growth %	18.82	20.54	13.1	-1.97	-1.85
Cash From Operations, 1 Yr. Growth %	-49.43	82.49	-31.08	81.08	-26.04
Capital Expenditures, 1 Yr. Growth %	-	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-63.95	46.13	8.41	-21.44	-85.56
Unlevered Free Cash Flow, 1 Yr. Growth %	-59.24	38.05	7.14	-19.66	-73.77
Dividend Per Share, 1 Yr. Growth %	5.39	-5.85	15.92	11.39	13.53
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-11.09	5.7	14.22	3.59	1.93
Gross Profit, 2 Yr. CAGR %	3.12	3.96	5.5	3.6	2.82
EBITDA, 2 Yr. CAGR %	4.97	3.94	4.9	3.19	1.11
EBITA, 2 Yr. CAGR %	4.81	3.68	4.89	3.13	0.88
EBIT, 2 Yr. CAGR %	4.81	3.68	4.89	3.13	0.88
Earnings From Cont. Operations, 2 Yr. CAGR %	3.04	-2.38	66.45	-51.65	-63.12
Net Income, 2 Yr. CAGR %	3.04	-2.38	66.45	-51.65	-63.12
Diluted EPS Before Extra, 2 Yr. CAGR %	-17.55	-9.83	55.98	-53.64	-63.13
Normalized Net Income, 2 Yr. CAGR %	-4.95	1.78	7.44	5.53	-5.52
Net Property, Plant and Equip., 2 Yr. CAGR %	73.74	17.67	24.94	16.46	4.01
Inventory, 2 Yr. CAGR %	-9.31	-7.79	-16.92	-18.82	-14.52
Accounts Receivable, 2 Yr. CAGR %	-77.62	-45.63	-5.41	-50	-19.56
Total Assets, 2 Yr. CAGR %	25.79	11.52	9.77	6.66	2.26
Common Equity, 2 Yr. CAGR %	33.93	19.22	16.75	5.31	-1.88
Tangible Book Value, 2 Yr. CAGR %	33.28	19.75	16.76	5.3	-1.91
Cash From Operations, 2 Yr. CAGR %	-14.14	-10.34	12.15	11.71	15.72
Capital Expenditures, 2 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	-7.93	-27.54	25.86	8.53	-66.32
Unlevered Free Cash Flow, 2 Yr. CAGR %	-5.02	-25.08	21.62	7.34	-54.1
Dividend Per Share, 2 Yr. CAGR %	1.98	-0.39	4.47	13.63	12.46
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-6.84	-2.76	7.81	7.67	5.24
Gross Profit, 3 Yr. CAGR %	7.06	2.77	5.62	3.09	4.85
EBITDA, 3 Yr. CAGR %	9.69	3.53	5.69	2.35	3.76
EBITA, 3 Yr. CAGR %	9.64	3.39	5.53	2.28	3.63
EBIT, 3 Yr. CAGR %	9.64	3.39	5.53	2.28	3.63
Earnings From Cont. Operations, 3 Yr. CAGR %	8.08	7.8	25.92	-32.38	-34.2
Net Income, 3 Yr. CAGR %	7.5	7.8	25.92	-32.38	-34.2
Diluted EPS Before Extra, 3 Yr. CAGR %	-6.91	-8.31	15.99	-35.17	-36.1
Normalized Net Income, 3 Yr. CAGR %	4.32	-2.82	5.59	4.2	0.48
Net Property, Plant and Equip., 3 Yr. CAGR %	65.66	54.61	20.86	18.42	11.31
Inventory, 3 Yr. CAGR %	-7.89	-9.36	-13.45	-15.82	-17.72
Accounts Receivable, 3 Yr. CAGR %	-59.89	-62.5	-36.9	-35.92	-18.07
Total Assets, 3 Yr. CAGR %	19.17	20.07	10.8	7.82	4.58
Common Equity, 3 Yr. CAGR %	25.21	28.71	17.14	10.15	2.88
Tangible Book Value, 3 Yr. CAGR %	24.7	28.94	17.49	10.15	2.86
Cash From Operations, 3 Yr. CAGR %	26.95	5.43	-17.87	31.57	-2.64
Levered Free Cash Flow, 3 Yr. CAGR %	35.97	7.28	-17.12	19.84	-44.59
Unlevered Free Cash Flow, 3 Yr. CAGR %	28.09	7.49	-15.59	16.73	-32.89
Dividend Per Share, 3 Yr. CAGR %	4.02	-0.7	4.78	6.73	13.6
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.08	2.51	1.07	-0.27	5.42
Gross Profit, 5 Yr. CAGR %	5.58	5.04	6.43	3.1	4.49
EBITDA, 5 Yr. CAGR %	9.47	7.5	7.75	3.39	3.83
EBITA, 5 Yr. CAGR %	9.56	7.5	7.72	3.29	3.65
EBIT, 5 Yr. CAGR %	9.56	7.5	7.72	3.29	3.65
Earnings From Cont. Operations, 5 Yr. CAGR %	16.1	8.01	25.56	-21.78	-22.95
Net Income, 5 Yr. CAGR %	16.79	-4.14	25.16	-21.78	-22.95
Diluted EPS Before Extra, 5 Yr. CAGR %	6.02	-2.1	11.92	-30.2	-26.66
Normalized Net Income, 5 Yr. CAGR %	13.34	9.5	5.55	0.44	1
Net Property, Plant and Equip., 5 Yr. CAGR %	37.72	52.73	47.99	38.04	13.81
Inventory, 5 Yr. CAGR %	-10.62	-8.02	-11.61	-13.27	-13.88
Accounts Receivable, 5 Yr. CAGR %	-23.25	-35.34	-43.46	-57.93	-30.46
Total Assets, 5 Yr. CAGR %	9.25	15.2	15.16	14.51	7.3
Common Equity, 5 Yr. CAGR %	20.97	20.83	21.42	18.78	9.13
Tangible Book Value, 5 Yr. CAGR %	20.71	20.9	21.49	18.91	9.31
Cash From Operations, 5 Yr. CAGR %	115.57	22.34	17.52	7.9	-5.79
Levered Free Cash Flow, 5 Yr. CAGR %	8.14	-9.59	31.75	7.78	-38.31
Unlevered Free Cash Flow, 5 Yr. CAGR %	23.88	-8.86	25.39	7.43	-29.87
Dividend Per Share, 5 Yr. CAGR %	14.74	2.74	4.2	4.8	7.78