Income Statement Grainger plc

Equities

GRI

GB00B04V1276

Real Estate Development & Operations

Market Closed - London S.E. Other stock markets 16:35:08 16/12/2025 GMT			5-day change	1st Jan Change
180.80 ^GBX	+0.44%		+1.01%	-19.64%

12-01	Grainger plc, 2025 Earnings Call, Nov 25, 2025
11-27	UBS cuts SSE; Citi lifts Compass	AN

7fd0f08.BgjJPdLo7gXHl-FqYh7_-Jgiv71Vb4YE7axWQt8jeR0.akKNV5OwuHPw9ZQCVUvOkf5Rj8lnIO9-j_Z7Cox3O2w2W5Z5gZ3XU_7fgg

Published financial data: GRAINGER PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2021	2022	2023	2024	2025
Rental Revenues	97.4M	121M	134M	155M	170M
Property Management Fee	5.1M	4.4M	5M	8.1M	6.1M
Other Revenues, Total	146M	153M	128M	127M	86.4M
Total Revenues	249M	279M	267M	290M	263M
Property Expenses	102M	119M	109M	120M	91.5M
Selling General & Admin Expenses, Total	33.3M	35.8M	36.3M	37.6M	38.7M
Other Operating Expenses	600K	800K	1.2M	1M	700K
Total Operating Expenses	136M	155M	146M	159M	131M
Operating Income (REIT / Utility Template)	113M	124M	121M	131M	132M
Interest Expense, Total	-31.6M	-31.1M	-30.8M	-38.3M	-41.2M
Interest and Investment Income	5.1M	6.1M	6.9M	7.6M	7M
Net Interest Expenses	-26.5M	-25M	-23.9M	-30.7M	-34.2M
Income (Loss) on Equity Invest.	500K	-500K	-400K	-600K	-3.7M
Other Non Operating Income (Expenses)	-3.8M	-3.5M	-3.2M	-10.1M	-12.7M
EBT, Excl. Unusual Items	83.6M	95M	93.1M	89.8M	81.2M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-100K	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	1.5M	1.7M	3.3M	-5.8M	-1.6M
Asset Writedown	76.8M	210M	-68.8M	-32.5M	29.5M
Other Unusual Items	-9.8M	-8.3M	-100K	-10.9M	-6.5M
EBT, Incl. Unusual Items	152M	299M	27.4M	40.6M	103M
Income Tax Expense	42.6M	69.2M	1.8M	9.4M	-100M
Earnings From Continuing Operations	110M	229M	25.6M	31.2M	203M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	110M	229M	25.6M	31.2M	203M
Net Income - (IS)	110M	229M	25.6M	31.2M	203M
Net Income to Common Incl Extra Items	110M	229M	25.6M	31.2M	203M
Net Income to Common Excl. Extra Items	110M	229M	25.6M	31.2M	203M
Per Share Items
Net EPS - Basic	0.16	0.31	0.03	0.04	0.27
Basic EPS - Continuing Operations	0.16	0.31	0.03	0.04	0.27
Basic Weighted Average Shares Outstanding	678M	740M	740M	738M	739M
Net EPS - Diluted	0.16	0.31	0.03	0.04	0.27
Diluted EPS - Continuing Operations	0.16	0.31	0.03	0.04	0.27
Diluted Weighted Average Shares Outstanding	680M	743M	742M	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	0.06	0.07	0.08	0.08
Payout Ratio	33.61	17.44	178.52	163.46	28.68
Supplemental Items
EBITDA	114M	125M	122M	133M	133M
EBITA	113M	124M	121M	131M	132M
EBIT	113M	124M	121M	131M	132M
EBITDAR	114M	125M	122M	133M	134M
Effective Tax Rate - (Ratio)	28.01	23.17	6.57	23.15	-97.47
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	7.7M	12.6M	14.6M	6.7M	11.1M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	34.9M	56.6M	-12.8M	2.7M	-111M
Normalized Net Income	52.25M	59.38M	58.19M	56.12M	50.75M
Interest Capitalized	10M	12M	17.5M	11.6M	10.4M
Interest on Long-Term Debt	24.6M	24.7M	31M	31.3M	31.3M
Non-Cash Pension Expense	0	0	-600K	-500K	-200K
Supplemental Operating Expense Items
Selling and Marketing Expenses	3.1M	4M	2.8M	2.3M	2M
General and Administrative Expenses	30.2M	31.8M	33.5M	35.3M	36.7M
Net Rental Expense, Total	200K	200K	200K	100K	200K
Imputed Operating Lease Interest Expense	48.09K	50.82K	53.27K	25.42K	51.66K
Imputed Operating Lease Depreciation	152K	149K	147K	74.58K	148K
Maintenance & Repair Expenses, Total	19.1M	4.4M	5.3M	5.8M	5.8M
Stock-Based Comp., Other (Total)	1.7M	1.7M	2.4M	2.8M	3.6M
Total Stock-Based Compensation	1.7M	1.7M	2.4M	2.8M	3.6M

Fiscal Period: September	2021	2022	2023	2024	2025
Assets
Net Property Plant And Equipment	2.18B	2.78B	2.96B	3.01B	3.07B
Total Real Estate Assets	2.18B	2.78B	2.96B	3.01B	3.07B
Cash And Equivalents	318M	95.9M	121M	93.2M	85.8M
Accounts Receivable, Total	6M	5.1M	1.5M	3.3M	2.9M
Other Receivables	45.8M	33.6M	17.9M	24.5M	18.3M
Investment In Debt and Equity Securities	71.7M	69.1M	67M	57.4M	48.6M
Goodwill	-	-	-	-	-
Other Intangibles, Total	500K	500K	1M	1.8M	2.9M
Other Current Assets, Total	598M	529M	407M	431M	427M
Trading Asset Securities, Total	-	-	45.3M	19.8M	14.1M
Deferred Tax Assets Long-Term (Collected)	3.7M	1.2M	3.7M	6.1M	4.6M
Other Long-Term Assets, Total	48.4M	65M	101M	97.8M	98.9M
Total Assets	3.27B	3.58B	3.72B	3.74B	3.77B
Liabilities
Current Portion of Long-Term Debt	4.5M	40M	-	-	75M
Current Portion of Leases	700K	800K	200K	700K	600K
Long-Term Debt	1.35B	1.32B	1.53B	1.59B	1.52B
Long-Term Leases	600K	2.2M	6.9M	6.3M	5.7M
Accounts Payable, Total	16.3M	22.8M	15.9M	19M	22.7M
Accrued Expenses, Total	77.5M	63.8M	84.9M	69.4M	66.8M
Current Income Taxes Payable	-	700K	600K	-	-
Unearned Revenue, Current	6.2M	7.7M	9M	12.2M	11.3M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	9.3M	18.7M	19.3M	26M	25.9M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non-Current	69.5M	137M	122M	122M	8.2M
Other Non Current Liabilities	1.1M	1.1M	1.1M	1M	700K
Total Liabilities	1.53B	1.61B	1.79B	1.85B	1.73B
Common Stock, Total	37.1M	37.1M	37.2M	37.2M	37.2M
Additional Paid In Capital	817M	818M	818M	818M	818M
Retained Earnings	876M	1.07B	1.05B	1.02B	1.17B
Treasury Stock	-1.1M	-900K	-4.8M	-600K	-600K
Comprehensive Income and Other	9.3M	44.7M	32.6M	17M	15.3M
Total Common Equity	1.74B	1.97B	1.93B	1.89B	2.04B
Minority Interest	-	-	-	-	-
Total Equity	1.74B	1.97B	1.93B	1.89B	2.04B
Total Liabilities And Equity	3.27B	3.58B	3.72B	3.74B	3.77B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	741M	741M	738M	738M	739M
ECS Total Common Shares Outstanding	741M	741M	738M	738M	739M
Book Value / Share	2.35	2.66	2.61	2.56	2.76
Tangible Book Value	1.74B	1.97B	1.93B	1.89B	2.04B
Tangible Book Value Per Share	2.35	2.65	2.61	2.56	2.76
Total Debt	1.35B	1.36B	1.54B	1.6B	1.6B
Net Debt	1.04B	1.26B	1.37B	1.49B	1.5B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-3.5M	-9.8M	-9.6M	-6.5M	-6.2M
Debt Equivalent Oper. Leases	1.6M	1.6M	1.6M	800K	1.6M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Equity Method Investments, Total	44.9M	55.2M	91M	91.3M	92.7M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	595M	454M	392M	332M	299M
Full Time Employees	322	342	372	367	372
Accumulated Allowance for Doubtful Accounts (Supple)	2.3M	1.5M	1.5M	1.5M	1.6M

Fiscal Period: September	2021	2022	2023	2024	2025
Net Income	110M	229M	25.6M	31.2M	203M
Depreciation, Depletion & Amortization	900K	900K	1.1M	1.5M	1.5M
Total Depreciation, Depletion & Amortization	900K	900K	1.1M	1.5M	1.5M
Amortization of Deferred Charges, Total	300K	-	-	-	200K
(Gain) Loss On Sale of Asset - (CF)	-1.5M	-1.7M	-3.3M	5.8M	1.6M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	-76.8M	-210M	68.9M	32.5M	-29.5M
(Income) Loss On Equity Investments - (CF)	-500K	500K	400K	600K	3.7M
Stock-Based Compensation (CF)	1.7M	1.7M	2.4M	2.8M	3.6M
Change in Accounts Receivable	-6.9M	-1.9M	6.5M	-3.8M	6.2M
Change In Inventories	62.2M	24.8M	61.6M	60.6M	33M
Change in Accounts Payable	48M	8.5M	37M	9.9M	12.9M
Change in Other Net Operating Assets (Collected)	-200K	8.4M	-	4.5M	-
Other Operating Activities	11.3M	41.6M	-15.5M	-9M	-113M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	148M	102M	185M	137M	122M
Acquisition of Real Estate Assets, Total	-363M	-293M	-308M	-265M	-150M
Sale of Real Estate Assets, Total	40.3M	20.9M	63.5M	90.2M	85.9M
Net Sale / Acquisition of Real Estate Assets	-322M	-272M	-245M	-175M	-63.9M
Cash Acquisitions	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	8M	2.2M	-27.3M	8.3M	6.2M
Other Investing Activities, Total	-1.6M	-4.4M	-2.2M	-900K	-1.4M
Cash from Investing	-316M	-274M	-274M	-168M	-59.1M
Long-Term Debt Issued, Total	30M	14.2M	330M	244M	186M
Total Debt Issued	30M	14.2M	330M	244M	186M
Long-Term Debt Repaid, Total	-77M	-900K	-155M	-185M	-191M
Total Debt Repaid	-77M	-900K	-155M	-185M	-191M
Issuance of Common Stock	204M	300K	300K	100K	-
Repurchase of Common Stock	-300K	-3.3M	-7.9M	-100K	-100K
Common Dividends Paid	-36.8M	-40M	-45.7M	-51M	-58.1M
Common & Preferred Stock Dividends Paid	-36.8M	-40M	-45.7M	-51M	-58.1M
Other Financing Activities, Total	-3.8M	-19.8M	-7.2M	-4.7M	-7.3M
Cash from Financing	116M	-49.5M	114M	3.3M	-70.7M
Foreign Exchange Rate Adjustments	-	-	-	-	-
Net Change in Cash	-51.5M	-222M	25.1M	-27.8M	-7.4M
Supplemental Items
Cash Interest Paid	45.6M	42M	46.9M	52.6M	53.3M
Cash Income Tax Paid (Refund)	16.9M	12.3M	-2.7M	12.5M	11.4M
Net Debt Issued / Repaid	-47M	13.3M	175M	59M	-5.2M
Levered Free Cash Flow	136M	147M	160M	26.26M	72.92M
Unlevered Free Cash Flow	156M	167M	179M	50.2M	98.68M
Change In Net Working Capital	-82M	-86.8M	-101M	36.1M	-11M

Fiscal Period: September	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.27	2.26	2.06	2.2	2.19
Return on Total Capital	2.38	2.41	2.22	2.36	2.31
Return On Equity %	6.88	12.38	1.31	1.63	10.3
Return on Common Equity	6.88	12.38	1.31	1.63	10.3
Margin Analysis
Gross Profit Margin %	59.18	57.52	59.19	58.53	65.17
SG&A Margin	13.38	12.82	13.59	12.96	14.73
EBITDA Margin %	45.92	44.73	45.56	45.74	50.74
EBITA Margin %	45.56	44.41	45.15	45.23	50.17
EBIT Margin %	45.56	44.41	45.15	45.23	50.17
Income From Continuing Operations Margin %	43.99	82.16	9.58	10.75	77.12
Net Income Margin %	43.99	82.16	9.58	10.75	77.12
Net Avail. For Common Margin %	43.99	82.16	9.58	10.75	77.12
Normalized Net Income Margin	20.99	21.27	21.78	19.35	19.32
Levered Free Cash Flow Margin	54.65	52.82	59.99	9.05	27.76
Unlevered Free Cash Flow Margin	62.59	59.78	67.19	17.3	37.56
Asset Turnover
Asset Turnover	0.08	0.08	0.07	0.08	0.07
Fixed Assets Turnover	0.13	0.11	0.09	0.1	0.09
Receivables Turnover (Average Receivables)	17.52	22.67	42.03	67.88	56.87
Inventory Turnover (Average Inventory)	0.16	0.23	0.26	0.33	0.29
Short Term Liquidity
Current Ratio	8.45	4.29	4.56	4.49	2.71
Quick Ratio	3.23	0.87	1.43	1.11	0.6
Operating Cash Flow to Current Liabilities	1.29	0.66	1.42	1.07	0.61
Days Sales Outstanding (Average Receivables)	20.83	16.1	8.68	5.39	6.42
Days Outstanding Inventory (Average Inventory)	2.25K	1.61K	1.42K	1.1K	1.26K
Average Days Payable Outstanding	151.47	-312.97	149	106.98	130.09
Cash Conversion Cycle (Average Days)	2.12K	1.94K	1.28K	999.45	1.13K
Long Term Solvency
Total Debt/Equity	77.82	69.18	79.88	84.49	78.26
Total Debt / Total Capital	43.76	40.89	44.41	45.8	43.9
LT Debt/Equity	77.52	67.1	79.87	84.45	74.56
Long-Term Debt / Total Capital	43.6	39.66	44.4	45.78	41.82
Total Liabilities / Total Assets	46.86	45.05	48.19	49.4	45.92
EBIT / Interest Expense	3.59	3.99	3.92	3.43	3.2
EBITDA / Interest Expense	3.62	4.02	3.95	3.46	3.24
(EBITDA - Capex) / Interest Expense	3.62	4.02	3.95	3.46	3.24
Total Debt / EBITDA	11.84	10.89	12.66	12.06	11.98
Net Debt / EBITDA	9.06	10.13	11.29	11.2	11.23
Total Debt / (EBITDA - Capex)	11.84	10.89	12.66	12.06	11.98
Net Debt / (EBITDA - Capex)	9.06	10.13	11.29	11.2	11.23
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	16.31	12.17	-4.33	8.61	-9.45
Gross Profit, 1 Yr. Growth %	2.08	9.03	-1.56	7.4	0.82
EBITDA, 1 Yr. Growth %	0.7	9.27	-2.56	9.04	0.45
EBITA, 1 Yr. Growth %	0.62	9.35	-2.74	8.79	0.46
EBIT, 1 Yr. Growth %	0.62	9.35	-2.74	8.79	0.46
Earnings From Cont. Operations, 1 Yr. Growth %	32.25	109.5	-88.84	21.88	549.36
Net Income, 1 Yr. Growth %	32.25	109.5	-88.84	21.88	549.36
Diluted EPS Before Extra, 1 Yr. Growth %	26.77	91.93	-88.8	21.39	550
Normalized Net Income, 1 Yr. Growth %	1.58	13.64	-2	-3.54	-9.58
Net Property, Plant and Equip., 1 Yr. Growth %	22.44	27.49	6.38	1.69	2.03
Inventory, 1 Yr. Growth %	-9.46	-23.76	-13.57	-15.45	-9.95
Accounts Receivable, 1 Yr. Growth %	5.26	-15	-70.59	120	-12.12
Total Assets, 1 Yr. Growth %	10.17	9.38	4	0.55	0.78
Common Equity, 1 Yr. Growth %	20.51	13.1	-1.94	-1.81	7.72
Tangible Book Value, 1 Yr. Growth %	20.54	13.1	-1.97	-1.85	7.66
Cash From Operations, 1 Yr. Growth %	82.49	-31.08	81.08	-26.04	-10.4
Levered Free Cash Flow, 1 Yr. Growth %	46.13	8.41	-21.44	-83.61	177.68
Unlevered Free Cash Flow, 1 Yr. Growth %	38.05	7.14	-19.66	-72.03	96.56
Dividend Per Share, 1 Yr. Growth %	-5.85	15.92	11.39	13.53	10.07
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.7	14.22	3.59	1.93	-0.83
Gross Profit, 2 Yr. CAGR %	3.96	5.5	3.6	2.82	4.06
EBITDA, 2 Yr. CAGR %	3.94	4.9	3.19	3.08	4.66
EBITA, 2 Yr. CAGR %	3.68	4.89	3.13	2.86	4.54
EBIT, 2 Yr. CAGR %	3.68	4.89	3.13	2.86	4.54
Earnings From Cont. Operations, 2 Yr. CAGR %	-2.38	66.45	-51.65	-63.12	181.32
Net Income, 2 Yr. CAGR %	-2.38	66.45	-51.65	-63.12	181.32
Diluted EPS Before Extra, 2 Yr. CAGR %	-9.83	55.98	-53.64	-63.13	180.9
Normalized Net Income, 2 Yr. CAGR %	1.78	7.44	5.53	-2.78	-6.61
Net Property, Plant and Equip., 2 Yr. CAGR %	17.67	24.94	16.46	4.01	1.86
Inventory, 2 Yr. CAGR %	-7.79	-16.92	-18.82	-14.52	-12.74
Accounts Receivable, 2 Yr. CAGR %	-45.63	-5.41	-50	-19.56	39.04
Total Assets, 2 Yr. CAGR %	11.52	9.77	6.66	2.26	0.66
Common Equity, 2 Yr. CAGR %	19.22	16.75	5.31	-1.88	2.84
Tangible Book Value, 2 Yr. CAGR %	19.75	16.76	5.3	-1.91	2.8
Cash From Operations, 2 Yr. CAGR %	-10.34	12.15	11.71	15.72	-18.59
Levered Free Cash Flow, 2 Yr. CAGR %	-27.54	25.86	8.53	-64.12	-32.54
Unlevered Free Cash Flow, 2 Yr. CAGR %	-25.08	21.62	7.34	-52.6	-25.85
Dividend Per Share, 2 Yr. CAGR %	-0.39	4.47	13.63	12.46	11.79
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-2.76	7.81	7.67	5.24	-2.01
Gross Profit, 3 Yr. CAGR %	2.77	5.62	3.09	4.85	2.15
EBITDA, 3 Yr. CAGR %	3.53	5.69	2.35	5.1	2.19
EBITA, 3 Yr. CAGR %	3.39	5.53	2.28	4.98	2.05
EBIT, 3 Yr. CAGR %	3.39	5.53	2.28	4.98	2.05
Earnings From Cont. Operations, 3 Yr. CAGR %	7.8	25.92	-32.38	-34.2	-4.06
Net Income, 3 Yr. CAGR %	7.8	25.92	-32.38	-34.2	-4.06
Diluted EPS Before Extra, 3 Yr. CAGR %	-8.31	15.99	-35.17	-36.1	-4.04
Normalized Net Income, 3 Yr. CAGR %	-2.82	5.59	4.2	2.41	-5.1
Net Property, Plant and Equip., 3 Yr. CAGR %	54.61	20.86	18.42	11.31	3.35
Inventory, 3 Yr. CAGR %	-9.36	-13.45	-15.82	-17.72	-13.02
Accounts Receivable, 3 Yr. CAGR %	-62.5	-36.9	-35.92	-18.07	-17.15
Total Assets, 3 Yr. CAGR %	20.07	10.8	7.82	4.58	1.76
Common Equity, 3 Yr. CAGR %	28.71	17.14	10.15	2.88	1.22
Tangible Book Value, 3 Yr. CAGR %	28.94	17.49	10.15	2.86	1.18
Cash From Operations, 3 Yr. CAGR %	5.43	-17.87	31.57	-2.64	6.27
Levered Free Cash Flow, 3 Yr. CAGR %	7.28	-17.12	19.84	-42.2	-29.02
Unlevered Free Cash Flow, 3 Yr. CAGR %	7.49	-15.59	16.73	-31.44	-23.84
Dividend Per Share, 3 Yr. CAGR %	-0.7	4.78	6.73	13.6	11.65
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.51	1.07	-0.27	5.42	4.19
Gross Profit, 5 Yr. CAGR %	5.04	6.43	3.1	4.49	3.48
EBITDA, 5 Yr. CAGR %	7.5	7.75	3.39	4.64	3.27
EBITA, 5 Yr. CAGR %	7.5	7.72	3.29	4.46	3.18
EBIT, 5 Yr. CAGR %	7.5	7.72	3.29	4.46	3.18
Earnings From Cont. Operations, 5 Yr. CAGR %	8.01	25.56	-21.78	-22.95	19.6
Net Income, 5 Yr. CAGR %	-4.14	25.16	-21.78	-22.95	19.6
Diluted EPS Before Extra, 5 Yr. CAGR %	-2.1	11.92	-30.2	-26.66	16.54
Normalized Net Income, 5 Yr. CAGR %	9.5	5.55	0.44	2.16	-0.27
Net Property, Plant and Equip., 5 Yr. CAGR %	52.73	47.99	38.04	13.81	11.5
Inventory, 5 Yr. CAGR %	-8.02	-11.61	-13.27	-13.88	-14.6
Accounts Receivable, 5 Yr. CAGR %	-35.34	-43.46	-57.93	-30.46	-12.64
Total Assets, 5 Yr. CAGR %	15.2	15.16	14.51	7.3	4.9
Common Equity, 5 Yr. CAGR %	20.83	21.42	18.78	9.13	7.17
Tangible Book Value, 5 Yr. CAGR %	20.9	21.49	18.91	9.31	7.15
Cash From Operations, 5 Yr. CAGR %	22.34	17.52	7.9	-5.79	8.58
Levered Free Cash Flow, 5 Yr. CAGR %	-9.59	31.75	7.78	-36.73	-4.76
Unlevered Free Cash Flow, 5 Yr. CAGR %	-8.86	25.39	7.43	-28.96	-2.65
Dividend Per Share, 5 Yr. CAGR %	2.74	4.2	4.8	7.78	8.72