W.W. Grainger (GWW) FY2015 results: revenue $10.0 billion, up 0.1% on the year
W.W. Grainger, Inc. (GWW) reported revenue of $10.0 billion for fiscal 2015, the year ended 31 December 2015, up 0.1% on the year before. Net income was $769 million, down 4.1%, and diluted earnings per share $11.58. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$10.0 billion
+0.1% on the year
FY2008FY2015
Operating margin
13.0%
13.5% a year earlier
FY2008FY2015
Net income
$769 million
-4.1% on the year
FY2008FY2015
Diluted EPS
$11.58
+1.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
9,973
9,965
9,438
+0.1%
Cost of revenue
5,742
5,651
5,301
+1.6%
Gross profit
4,231
4,314
4,136
-1.9%
Gross margin
42.4%
43.3%
43.8%
Selling, general and administrative
2,931
2,967
2,840
-1.2%
Operating income
1,300
1,347
1,297
-3.5%
Operating margin
13.0%
13.5%
13.7%
Interest expense
33.6
10.1
13.2
+232.6%
Pre-tax income
1,251
1,334
1,288
-6.3%
Income tax
466
522
480
-10.8%
Effective tax rate
37.2%
39.1%
37.3%
Net income
769
802
797
-4.1%
Net margin
7.7%
8.0%
8.4%
Diluted EPS
$11.58
$11.45
$11.13
+1.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,036
960
986
+7.9%
Capital expenditure
374
387
272
-3.5%
Free cash flow
662
572
714
+15.7%
Free cash flow margin
6.6%
5.7%
7.6%
Cash from investing
-843
-384
-399
Cash from financing
-109
-758
-591
Depreciation and amortisation
207
190
165
+8.8%
Share-based compensation
46.9
49.0
55.6
-4.4%
Buybacks
1,400
525
438
+166.6%
Dividends paid
306
291
255
+5.2%
Dividend per share
$4.59
$4.17
$3.59
+10.1%
Diluted shares, weighted
66m
69m
71m
-5.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,267
3,210
3,250
-29.4%
Non-controlling interest
86.1
74.2
76.4
+16.0%
Debt
1,989
484
543
+311.2%
Other liabilities
1,516
1,517
1,397
-0.0%
Total liabilities and equity
5,858
5,284
5,266
+10.9%
Fixed assets
1,431
1,324
1,209
+8.1%
Goodwill
582
507
525
+14.9%
Intangible assets
648
264
303
+145.5%
Cash and equivalents
290
227
431
+28.0%
Receivables
1,210
1,173
1,102
+3.1%
Inventory
1,414
1,356
1,306
+4.3%
Other assets
282
433
391
-34.8%
Total assets
5,858
5,284
5,266
+10.9%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.