W.W. Grainger (GWW) FY2017 results: revenue $10.4 billion, up 2.8% on the year
W.W. Grainger, Inc. (GWW) reported revenue of $10.4 billion for fiscal 2017, the year ended 31 December 2017, up 2.8% on the year before. Net income was $586 million, down 3.3%, and diluted earnings per share $10.02. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$10.4 billion
+2.8% on the year
FY2010FY2017
Operating margin
9.9%
11.0% a year earlier
FY2010FY2017
Net income
$586 million
-3.3% on the year
FY2010FY2017
Diluted EPS
$10.02
+1.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
10,425
10,137
9,973
+2.8%
Cost of revenue
6,327
6,023
5,742
+5.1%
Gross profit
4,098
4,115
4,231
-0.4%
Gross margin
39.3%
40.6%
42.4%
Selling, general and administrative
3,063
3,002
2,931
+2.0%
Operating income
1,035
1,113
1,300
-7.0%
Operating margin
9.9%
11.0%
13.0%
Interest expense
89.0
76.0
33.6
+17.1%
Pre-tax income
935
1,019
1,251
-8.2%
Income tax
313
386
466
-19.0%
Effective tax rate
33.5%
37.9%
37.2%
Net income
586
606
769
-3.3%
Net margin
5.6%
6.0%
7.7%
Diluted EPS
$10.02
$9.87
$11.58
+1.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,057
1,024
1,036
+3.2%
Capital expenditure
237
284
374
-16.5%
Free cash flow
819
740
662
+10.7%
Free cash flow margin
7.9%
7.3%
6.6%
Cash from investing
-146
-262
-843
Cash from financing
-867
-776
-109
Depreciation and amortisation
241
223
207
+8.1%
Share-based compensation
33.0
36.0
46.9
-8.3%
Buybacks
605
790
1,400
-23.3%
Dividends paid
304
303
306
+0.5%
Dividend per share
$5.06
$4.83
$4.59
+4.8%
Diluted shares, weighted
58m
61m
66m
-4.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,690
1,798
2,267
-6.0%
Non-controlling interest
138
108
86.1
+28.0%
Debt
2,343
2,247
1,989
+4.3%
Other liabilities
1,633
1,541
1,516
+5.9%
Total liabilities and equity
5,804
5,694
5,858
+1.9%
Fixed assets
1,392
1,421
1,431
-2.0%
Goodwill
544
527
582
+3.2%
Intangible assets
569
586
648
-2.9%
Cash and equivalents
327
274
290
+19.2%
Receivables
1,325
1,223
1,210
+8.3%
Inventory
1,429
1,406
1,414
+1.6%
Other assets
218
256
282
-15.0%
Total assets
5,804
5,694
5,858
+1.9%
10-K for the year ended 31 December 2017, filed 20 February 2020: the filing.