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W.W. Grainger cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$546M in Q3 2026 · $1.7B over twelve months

Operating cash flow$661M
Capital spending−$115M
Free cash flow+$546M
Cash / net income1.1×

Analysis

In Q3 2026, W.W. Grainger generated $661M of operating cash flow and spent $115M on capital projects, leaving free cash flow of $546M. That is $207M more than in Q3 2025 ($339M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.2B; the largest uses were buybacks ($986M), capital spending ($522M), dividends ($507M); besides operations, cash came from net borrowing (+) / repaid (−) ($215M), other financing ($40.0M); the cash balance rose by $233M.

Operating cash flow was $661M against net income of $616M — 1.1× profit, roughly in line with earnings. The largest differences: payables −$138M, accrued liabilities +$127M, inventory +$72.0M.

Free cash flow

W.W. Grainger: free cash flow by quarterW.W. Grainger: free cash flow by quarter$170MQ4 2024$521MQ1 2025$202MQ2 2025$339MQ3 2025$269MQ4 2025$569MQ1 2026$333MQ2 2026$546MQ3 2026
Operating cash flow less capital spending.
W.W. Grainger: operating cash flow against capital spendingW.W. Grainger: operating cash flow against capital spendingOperating cash flowCapital spending$428M$258MQ4 2024$646M$125MQ1 2025$377M$175MQ2 2025$597M$258MQ3 2025$395M$126MQ4 2025$739M$170MQ1 2026$444M$111MQ2 2026$661M$115MQ3 2026
Latest (Q3 2026): Operating cash flow $661M, Capital spending $115M.

Capital allocation, year by year

W.W. Grainger: where the cash came from (up) and went (down), by fiscal yearW.W. Grainger: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $937MFY2021: Net borrowing −$8.0MFY2021: Shares issued $48.0MFY2021: Asset sales $29.0MFY2021: Capital spending −$255MFY2021: Buybacks −$695MFY2021: Dividends −$357M$1.0BFY2021FY2022: Operating cash flow $1.3BFY2022: Net borrowing $2.0MFY2022: Shares issued $26.0MFY2022: Asset sales $28.0MFY2022: Capital spending −$256MFY2022: Buybacks −$603MFY2022: Dividends −$370M$1.4BFY2022FY2023: Operating cash flow $2.0BFY2023: Net borrowing −$30.0MFY2023: Shares issued $34.0MFY2023: Asset sales $21.0MFY2023: Capital spending −$445MFY2023: Buybacks −$850MFY2023: Dividends −$392M$2.1BFY2023FY2024: Operating cash flow $2.1BFY2024: Net borrowing $464MFY2024: Shares issued $30.0MFY2024: Asset sales $3.0MFY2024: Capital spending −$541MFY2024: Buybacks −$1.2BFY2024: Dividends −$421M$2.6BFY2024FY2025: Operating cash flow $2.0BFY2025: Net borrowing −$290MFY2025: Shares issued $15.0MFY2025: Asset sales $33.0MFY2025: Capital spending −$684MFY2025: Buybacks −$1.0BFY2025: Dividends −$467M$2.1BFY2025
Over these 5 years operating cash flow totalled $8.4B; the largest uses were buybacks ($4.4B) and capital spending ($2.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$768M
Debt$2.9B
Net debt$2.1B
Due within a year$452M

W.W. Grainger funds itself: free cash flow was $1.7B over the last twelve months, and $768M of cash and investments stands against $2.9B of debt ($452M due within a year, 1.7× covered by cash).

Where the cash came from and went

W.W. Grainger: sources (+) and uses (−) of cash, Q3 2026W.W. Grainger: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$661MBuybacks−$278MNet borrowing (+) / repaid (−)$272MOther investing−$219MCash drawn (+) / kept (−)−$179MDividends−$145MCapital spending−$115MExchange rates$5.0MTaxes on employees’ shares−$2.0MShares issued$1.0MPartners−$1.0M
W.W. Grainger: sources (+) and uses (−) of cash, TTM to Q3 2026W.W. Grainger: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$2.2BBuybacks−$986MCapital spending−$522MDividends−$507MOther investing−$237MCash drawn (+) / kept (−)−$233MNet borrowing (+) / repaid (−)$215MOther financing$40.0MTaxes on employees’ shares−$37.0MAsset & business sales$29.0MExchange rates−$23.0MShares issued$22.0M

From profit to cash

W.W. Grainger: net income to operating cash flow, Q3 2026W.W. Grainger: net income to operating cash flow, Q3 2026Net income$616MDepreciation & amortization$67.0MStock-based pay$19.0MReceivables−$47.0MInventory$72.0MPayables−$138MAccrued liabilities$127MPrepaid and other assets−$40.0MIncome taxes payable−$16.0MOperating cash flow$661M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$661M−$115M−$278M−$145M$272M$1.0M−$179M$546M
Q2 2026$444M−$111M−$224M−$145M−$1.0M$2.0M$106M$333M
Q1 2026$739M−$170M−$237M−$108M−$76.0M$6.0M−$110M$569M
Q4 2025$395M−$126M−$247M−$109M$122M$13.0M−$50.0M$269M
Q3 2025$597M−$258M−$291M−$133M$27.0M—$62.0M$339M
Q2 2025$377M−$175M−$226M−$110M$61.0M—$69.0M$202M
Q1 2025$646M−$125M−$281M−$115M−$501M$2.0M$370M$521M
Q4 2024$428M−$258M−$462M−$100M−$1.0M$4.0M$412M$170M

W.W. Grainger: income statement and cash flow

W.W. Grainger, Q3 2026: revenue $5.2B (+11% year over year), operating margin 16.0%. The chart follows the revenue to costs, profit and cash.

W.W. Grainger: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.