W.W. Grainger, Inc. Financial Ratios — GWW Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	14.25	13.53	14.22	13.07	11.61	8.64	8.01	10.17	10.36	8.04	11.34	15.23	15.92	14.71	11.87
Return on Assets (%)	15.28	14.18	15.51	15.2	13.81	10.49	10.19	13.39	14.3	11.3	16.19	21.82	23.25	22.49	19.18
Return on Capital (%)	12.58	12.05	12.73	11.86	9.75	6.79	6.23	7.93	8.13	6.28	8.53	11.77	12.57	11.6	9.37
Return on Invested Capital (%)	22.11	20.44	21.6	21.54	20.17	16.31	16.59	20.8	21.73	18.04	24.04	32.06	33.48	30.98	26.67
Gross Margin (%)	43.46	43.76	43.83	43.29	42.43	40.59	39.31	38.75	38.28	35.92	36.25	38.41	39.42	39.36	39.06
EBITDA Margin (%)	14.87	14.42	15.65	15.61	15.32	13.44	12.46	12.61	12.98	10.18	13.32	15.89	16.86	16.74	15.32
Operating Margin (%)	13.03	12.64	13.74	13.52	13.04	10.98	9.93	10.32	10.99	8.64	11.88	14.55	15.57	15.36	13.91
Incremental Operating Margin (%)	21.42	9.03	33.98	9.53	-555.06	-114.49	-27.08	15.45	39.25	-78.14	43.1	30.28	28	10.43	-18.35
Pretax Margin (%)	13.02	12.49	13.64	13.39	12.54	10.05	8.98	9.63	10.53	8.03	11.4	14.09	15.17	15.05	13.54
Profit Margin (%)	8.15	7.71	8.45	8.05	7.71	5.98	5.62	6.97	7.39	5.89	8.01	10.16	11.1	11.12	9.51
Net Income to Common Margin (%)	8.15	7.71	8.45	8.05	7.71	5.98	5.62	6.97	7.39	5.89	8.01	10.16	11.1	11.12	9.51
Effective Tax Rate (%)	36.62	37.48	37.27	39.13	37.22	37.88	33.44	23.87	25.97	20.27	24.98	24.84	23.88	23.03	25.6
Dvd Payout Ratio (%)	26.77	31.09	31.21	35.41	38.24	45.91	46.06	36.57	34.86	41.47	30.13	22.04	19.83	20.35	24.45
Sustainable Growth Rate (%)	10.43	9.33	9.78	8.44	7.17	4.67	4.32	6.45	6.75	4.7	7.93	11.88	12.77	11.72	8.97

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	517	565	543	484	1,989	2,247	2,343	2,220	2,215	2,616	2,762	2,705	2,752	3,183	2,862
ST Debt	342	98	97	80	600	406	95	130	301	65	66	103	105	577	199
LT Debt	175	467	446	403	1,388	1,841	2,248	2,090	1,914	2,551	2,696	2,602	2,647	2,606	2,663
Total Debt/EBITDA	0.43	0.44	0.37	0.31	1.3	1.65	1.8	1.57	1.49	2.18	1.59	1.12	0.99	1.11	1.04
Net Debt/EBITDA	0.15	0.09	0.08	0.17	1.11	1.45	1.55	1.19	1.24	1.51	1.22	0.82	0.59	0.61	0.69
Total Debt/EBIT	0.49	0.5	0.42	0.36	1.53	2.02	2.26	1.92	1.76	2.57	1.79	1.22	1.07	1.21	1.15
Net Debt/EBIT	0.17	0.1	0.09	0.19	1.31	1.77	1.95	1.45	1.47	1.78	1.37	0.9	0.64	0.66	0.76
EBITDA to Interest Expense	132.18	80.24	111.72	154.11	45.52	17.92	15.1	17.26	18.87	12.91	19.93	26.02	29.88	37.32	33.94
EBITDA-CapEx/Interest Expense	110.51	64.7	91.14	115.73	34.39	14.18	12.35	14.34	16.08	10.8	17	23.27	29.88	37.32	33.94
EBIT to Interest Expense	115.77	70.35	98.06	133.47	38.73	14.64	12.03	14.12	15.97	10.96	17.78	23.82	27.58	34.25	30.8
Interest Expense	9	16	13	10	34	76	86	82	79	93	87	93	93	77	81
Common Equity/Total Assets	103.07	106.36	111.6	120.97	117.06	125.89	128.53	134.92	140.88	140.33	144.95	141.74	149.96	155.53	167.52
Long-Term Debt/Equity (%)	6.43	14.98	13.39	12.28	59.01	96.6	122.98	99.86	92.91	121.88	124.81	95.14	76.93	70.38	64.31
Long-Term Debt/Capital (%)	3.2	7.8	6.86	5.8	15.54	19.33	22.61	20.26	17.59	21.78	21.39	18.92	17.31	15.1	14.57
Long-Term Debt/Total Assets (%)	3.71	9.31	8.46	7.63	23.7	32.33	38.73	35.59	31.87	40.52	40.9	34.29	32.49	29.52	29.71
Total Debt/Equity (%)	18.96	18.11	16.32	14.73	84.53	117.91	128.17	106.07	107.52	124.99	127.87	98.9	79.98	85.96	69.11
Total Debt/Capital (%)	9.44	9.42	8.36	6.96	22.27	23.6	23.57	21.52	20.36	22.33	21.92	19.67	17.99	18.44	15.66
Total Debt/Total Assets (%)	10.95	11.26	10.31	9.15	33.95	39.46	40.37	37.8	36.89	41.56	41.9	35.65	33.78	36.05	31.93
Net Debt to Equity	6.65	3.61	3.37	7.83	72.2	103.52	110.28	80.36	90.05	86.57	98.19	72.91	47.66	47.04	45.96
Net Debt/Capital (%)	3.52	2.03	1.85	3.82	19.66	21.33	20.97	17.2	17.63	16.28	17.16	14.85	11.21	10.74	10.75
EBITDA	1,202	1,290	1,477	1,555	1,528	1,362	1,299	1,415	1,491	1,201	1,734	2,420	2,779	2,874	2,749
EBITDA-CapEx	1,005	1,040	1,205	1,168	1,154	1,078	1,062	1,176	1,270	1,004	1,479	2,164	2,779	2,874	2,749
Operating Income (Loss)	1,052	1,131	1,297	1,347	1,300	1,113	1,035	1,158	1,262	1,019	1,547	2,215	2,565	2,637	2,495

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.24	0.42	0.36	0.18	0.16	0.17	0.22	0.36	0.21	0.41	0.16	0.16	0.36	0.45	0.3
Current Ratio	1.94	2.69	2.55	2.35	1.7	1.85	2.13	2.37	2.12	2.72	2.62	2.48	2.88	2.49	2.83
Quick Ratio	0.88	1.29	1.28	1.11	0.84	0.92	1.1	1.28	1.06	1.43	1.31	1.22	1.56	1.42	1.5
CFO/Avg Current Liab	0.66	0.66	0.87	0.78	0.68	0.6	0.67	0.7	0.66	0.72	0.63	0.75	1.06	1.02	0.95
Common Equity/Total Assets	103.07	106.36	111.6	120.97	117.06	125.89	128.53	134.92	140.88	140.33	144.95	141.74	149.96	155.53	167.52
Long-Term Debt/Equity (%)	6.43	14.98	13.39	12.28	59.01	96.6	122.98	99.86	92.91	121.88	124.81	95.14	76.93	70.38	64.31
Long-Term Debt/Capital (%)	3.2	7.8	6.86	5.8	15.54	19.33	22.61	20.26	17.59	21.78	21.39	18.92	17.31	15.1	14.57
Long-Term Debt/Total Assets (%)	3.71	9.31	8.46	7.63	23.7	32.33	38.73	35.59	31.87	40.52	40.9	34.29	32.49	29.52	29.71
Total Debt/Equity (%)	18.96	18.11	16.32	14.73	84.53	117.91	128.17	106.07	107.52	124.99	127.87	98.9	79.98	85.96	69.11
Total Debt/Capital (%)	9.44	9.42	8.36	6.96	22.27	23.6	23.57	21.52	20.36	22.33	21.92	19.67	17.99	18.44	15.66
Total Debt/Total Assets (%)	10.95	11.26	10.31	9.15	33.95	39.46	40.37	37.8	36.89	41.56	41.9	35.65	33.78	36.05	31.93
CFO/Total Liabilities	37.46	43.02	50.86	48.02	29.56	27.03	26.58	27.96	26.41	26.73	21.14	27.47	43.16	41.18	41.8
CFO/CapEx	3.79	3.27	3.62	2.48	2.77	3.61	4.46	4.42	4.71	5.7	3.67	5.21	- -	- -	- -
Altman's Z-Score	8.94	9.73	10.92	10.84	7.73	7.78	7.65	8.23	8.44	8.48	9.4	9.38	11.38	12	12.18

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	9.78	9.79	9.25	8.76	8.37	8.33	8.18	8.28	8.18	8.14	8.07	7.84	7.62	7.76	7.87
Days Sales Outstanding	37.31	37.29	39.48	41.66	43.6	43.8	44.61	44.08	44.65	44.85	45.24	46.58	47.9	47.03	46.39
Inventory Turnover	4.04	3.92	4.07	4.25	4.14	4.27	4.46	4.63	4.44	4.46	4.61	4.55	4.42	4.55	4.65
Days Inventory Outstanding	90.31	93.19	89.76	85.97	88.06	85.48	81.79	78.86	82.28	81.8	79.2	80.23	82.62	80.15	78.46
Accounts Payable Turnover	11.79	11.18	11.29	10.71	10.2	9.75	9.19	9.91	10.31	10.2	10.58	10.48	9.99	10.97	11.51
Accounts Payable Turnover Days	30.96	32.65	32.32	34.08	35.8	37.43	39.7	36.81	35.4	35.8	34.49	34.83	36.54	33.29	31.71
Cash Conversion Cycle	96.66	97.84	96.93	93.55	95.86	91.85	86.7	86.13	91.53	90.85	89.95	91.98	93.98	93.89	93.14
Inventory to Cash Days	-53	-55.91	-50.28	-44.31	-44.46	-41.68	-37.18	-34.79	-37.63	-36.95	-33.96	-33.64	-34.72	-33.12	-32.06
Inventories	1,269	1,302	1,306	1,356	1,414	1,406	1,429	1,541	1,655	1,733	1,870	2,253	2,266	2,306	2,394
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	1,269	1,302	1,306	1,356	1,414	1,406	1,429	1,541	1,655	1,733	1,870	2,253	2,266	2,306	2,394

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	13,045	14,128	17,740	17,418	13,200	14,035	13,626	15,853	18,517	21,846	26,897	28,313	41,352	51,543	48,333
- Cash & Cash Equivalents	335	452	431	227	290	274	327	538	360	585	241	325	660	1,036	585
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	95	93	76	74	86	108	138	172	205	265	286	295	326	345	405
+ Total Debt	517	565	543	484	1,989	2,247	2,343	2,220	2,215	2,616	2,762	2,705	2,752	3,183	2,862
Enterprise Value	13,322	14,334	17,929	17,749	14,985	16,116	15,780	17,707	20,577	24,142	29,704	30,988	43,770	54,035	51,015
Total Capital	5,473	5,992	6,497	6,949	8,932	9,523	9,941	10,316	10,880	11,715	12,603	13,755	15,295	17,260	18,280
Total Debt/Capital (%)	9.44	9.42	8.36	6.96	22.27	23.6	23.57	21.52	20.36	22.33	21.92	19.67	17.99	18.44	15.66
Total Debt / EV	0.04	0.04	0.03	0.03	0.13	0.14	0.15	0.13	0.11	0.11	0.09	0.09	0.06	0.06	0.06
EV/Sales	1.65	1.6	1.9	1.78	1.5	1.59	1.51	1.58	1.79	2.05	2.28	2.03	2.66	3.15	2.84
EV/EBITDA	11.09	11.11	12.13	11.41	9.81	11.83	12.15	12.51	13.8	20.1	17.13	12.81	15.75	18.8	18.56
EV/EBIT	12.66	12.67	13.82	13.18	11.52	14.48	15.25	15.29	16.31	23.69	19.2	13.99	17.06	20.49	20.45
EV/Cash Flow to Firm	17.72	17.35	18.02	18.37	14.17	15.04	14.16	15.82	18.7	20.17	29.64	22.09	20.82	24.9	24.58
EV/Free Cash Flow to Firm	14.04	13.32	14.15	13.11	10.47	11.89	11.68	13.03	15.57	17.32	23.63	18.68	20.82	24.9	24.58
Diluted Market Cap	13,323	14,405	18,027	17,640	13,323	14,130	13,698	15,963	18,585	21,928	27,052	28,424	41,517	51,648	48,434
Diluted Enterprise Value	13,600	14,611	18,215	17,971	15,108	16,211	15,852	17,817	20,645	24,224	29,859	31,099	43,935	54,140	51,116
EV per Share	191.16	205.32	258.13	259.74	229.98	266.68	273.6	315.38	376.18	451.26	572.32	608.8	877.15	1,105.01	1,065.04
TTM Sales	8,078	8,950	9,438	9,965	9,973	10,137	10,425	11,221	11,486	11,797	13,022	15,228	16,478	17,168	17,942
TTM EBITDA	1,202	1,290	1,477	1,555	1,528	1,362	1,299	1,415	1,491	1,201	1,734	2,420	2,779	2,874	2,749
TTM Operating Income	1,052	1,131	1,297	1,347	1,300	1,113	1,035	1,158	1,262	1,019	1,547	2,215	2,565	2,637	2,495
TTM Cash Flow to Firm	752	826	995	966	1,057	1,071	1,114	1,119	1,100	1,197	1,002	1,403	2,102	2,170	2,075
TTM Free Cash Flow to Firm	949	1,076	1,267	1,353	1,431	1,355	1,351	1,358	1,321	1,394	1,257	1,659	2,102	2,170	2,075

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	14.13	13.51	14.32	13.09	9.45	10.8	10.59	12.32	14.71	16.61	22.69	17.89	20.44	24.47	24.04
EV/EBIT	12.66	12.67	13.82	13.18	11.52	14.48	15.25	15.29	16.31	23.69	19.2	13.99	17.06	20.49	20.45
Enterprise Value	13,322	14,334	17,929	17,749	14,985	16,116	15,780	17,707	20,577	24,142	29,704	30,988	43,770	54,035	51,015
Low Price	124.33	172.5	201.49	223.92	189.6	176.85	155	223.25	255.09	200.61	356.23	440.48	534.01	800.97	893.99
EV/Sales	1.65	1.6	1.9	1.78	1.5	1.59	1.51	1.58	1.79	2.05	2.28	2.03	2.66	3.15	2.84
EV/EBITDA	11.09	11.11	12.13	11.41	9.81	11.83	12.15	12.51	13.8	20.1	17.13	12.81	15.75	18.8	18.56
Price/Earnings	19.81	20.48	22.26	21.73	17.17	23.16	23.25	20.27	21.81	31.43	25.79	18.3	22.61	27	28.33
Price/Earnings Average	16.02	20.33	21.55	21.24	19.28	22.08	19.92	21.6	18.9	25.48	21.59	17.02	19.24	25.43	28.39
Price/Earnings High	20.45	22.45	24.08	22.99	21.77	24.01	25.86	26.71	21.94	32.94	26.23	20.14	22.94	31.45	31.98
Price/Earnings Low	13.16	17.46	17.56	19.09	16.06	17.64	15.26	16.03	16.44	15.44	17.73	14.49	14.57	20.52	25.1
Price/Book Value	2.68	2.65	3.02	2.73	1.93	1.96	1.83	2	2.19	2.47	2.81	2.63	3.38	3.75	3.22
Price/Book Value Average	2.17	2.63	2.92	2.66	2.16	1.87	1.56	2.13	1.9	2	2.36	2.45	2.88	3.54	3.23
Price/Book Value High	2.77	2.9	3.27	2.88	2.44	2.03	2.03	2.64	2.2	2.59	2.86	2.9	3.44	4.37	3.63
Price/Book Value Low	1.78	2.26	2.38	2.39	1.8	1.49	1.2	1.58	1.65	1.21	1.93	2.08	2.18	2.85	2.85
Price/Tangible Book Value	6.63	6.06	7.1	6.93	11.76	17.71	19.06	13.11	13.95	14.82	17.49	13.28	14.58	16.6	13.75
Price/Tangible Book Value Average	5.36	6.02	6.88	6.78	13.21	16.88	16.33	13.97	12.09	12.01	14.64	12.35	12.4	15.63	13.78
Price/Tangible Book Value High	6.84	6.64	7.68	7.33	14.92	18.36	21.19	17.28	14.04	15.53	17.79	14.61	14.79	19.33	15.52
Price/Tangible Book Value Low	4.4	5.17	5.6	6.09	11.01	13.49	12.5	10.37	10.52	7.28	12.02	10.52	9.39	12.61	12.18
Price/Sales	1.61	1.58	1.88	1.75	1.32	1.38	1.31	1.41	1.61	1.85	2.07	1.86	2.51	3	2.69
Price/Sales Average	1.31	1.57	1.82	1.71	1.49	1.32	1.12	1.51	1.4	1.5	1.73	1.73	2.14	2.83	2.7
Price/Sales High	1.67	1.73	2.03	1.85	1.68	1.44	1.45	1.86	1.62	1.94	2.1	2.05	2.55	3.5	3.04
Price/Sales Low	1.07	1.35	1.48	1.54	1.24	1.05	0.86	1.12	1.21	0.91	1.42	1.47	1.62	2.28	2.39
Price/Cash Flow	17.48	17.31	17.98	18.15	12.74	13.71	12.89	15	17.77	19.45	28.71	21.24	20.36	24.42	23.99
Price/Cash Flow Average	14.14	17.18	17.41	17.74	14.31	13.07	11.05	15.98	15.4	15.77	24.03	19.76	17.33	23	24.04
Price/Cash Flow High	18.05	18.97	19.46	19.2	16.16	14.21	14.33	19.76	17.88	20.39	29.19	23.37	20.66	28.44	27.08
Price/Cash Flow Low	11.61	14.75	14.19	15.94	11.92	10.44	8.46	11.86	13.39	9.56	19.73	16.82	13.12	18.55	21.25
Price/Free Cash Flow Average	11.43	13.41	13.87	12.8	10.61	10.3	9.07	13.12	12.75	13.47	19	16.64	17.4	23.04	24.09
Price/Free Cash Flow High	14.58	14.81	15.5	13.85	11.99	11.2	11.77	16.23	14.8	17.41	23.08	19.68	20.75	28.5	27.14
Price/Free Cash Flow Low	9.38	11.52	11.3	11.5	8.84	8.23	6.95	9.74	11.09	8.16	15.6	14.17	13.17	18.59	21.3
EV/Sales Average	1.34	1.59	1.84	1.74	1.67	1.53	1.33	1.67	1.58	1.7	1.94	1.91	2.28	2.97	2.85
EV/Sales High	1.7	1.75	2.05	1.88	1.86	1.64	1.66	2.03	1.8	2.14	2.32	2.22	2.69	3.64	3.19
EV/Sales Low	1.11	1.37	1.5	1.57	1.42	1.26	1.06	1.28	1.39	1.1	1.64	1.65	1.76	2.43	2.54
EV/EBITDA Average	9.01	11.03	11.75	11.16	10.87	11.35	10.65	13.25	12.14	16.66	14.6	11.99	13.53	17.76	18.6
EV/EBITDA High	11.44	12.16	13.12	12.06	12.12	12.21	13.32	16.07	13.88	20.97	17.39	13.98	15.97	21.76	20.82
EV/EBITDA Low	7.44	9.49	9.6	10.05	9.25	9.37	8.54	10.17	10.74	10.85	12.28	10.37	10.46	14.5	16.55
EV/EBIT Average	10.29	12.58	13.39	12.89	12.78	13.89	13.36	16.19	14.35	19.63	16.37	13.1	14.66	19.35	20.49
EV/EBIT High	13.06	13.87	14.95	13.93	14.25	14.94	16.72	19.64	16.39	24.72	19.5	15.27	17.3	23.71	22.94
EV/EBIT Low	8.5	10.83	10.94	11.6	10.87	11.47	10.72	12.42	12.69	12.79	13.77	11.33	11.33	15.8	18.24
Last Price	187.19	202.37	255.42	254.89	202.59	232.25	236.25	282.36	338.52	408.34	518.24	556.25	828.69	1,054.05	1,009.05
High Price	193.21	221.84	276.38	269.69	256.97	240.74	262.71	372.06	340.57	427.9	527.06	612.06	841	1,227.66	1,139.15
Enterprise Value Average	10,827	14,231	17,365	17,362	16,612	15,461	13,829	18,745	18,106	20,005	25,324	29,011	37,607	51,038	51,118
Enterprise Value High	13,742	15,693	19,385	18,760	18,528	16,629	17,306	22,743	20,689	25,189	30,161	33,829	44,384	62,525	57,247
Enterprise Value Low	8,941	12,249	14,183	15,633	14,139	12,768	11,094	14,388	16,013	13,029	21,295	25,095	29,065	41,659	45,504

Shares Outstanding	70	69	69	67	62	59	56	56	54	53	51	50	49	48	47
Diluted Weighted Avg Shares	71	71	71	69	66	61	58	57	55	54	52	51	50	49	48
Basic Weighted Avg Shares	70	70	69	68	65	60	58	56	55	54	52	51	50	49	48
Revenue per Share	115.91	128.2	135.88	145.83	153.07	167.75	180.75	199.86	209.98	220.5	250.91	299.17	330.22	351.08	374.57
EBITDA per Share	17.24	18.48	21.27	22.76	23.46	22.54	22.52	25.2	27.26	22.45	33.41	47.54	55.69	58.77	57.39
Operating Income per Share	15.1	16.2	18.67	19.71	19.96	18.42	17.95	20.63	23.07	19.05	29.81	43.52	51.4	53.93	52.09
Basic EPS, GAAP	9.45	9.88	11.48	11.73	11.8	10.03	10.16	13.93	15.52	12.99	20.1	30.39	36.65	39.04	35.62
Basic EPS from Cont Ops	9.56	10.01	11.63	11.89	12.05	10.47	10.8	14.66	16.36	14.11	21.46	31.69	38.14	40.67	37.75
Diluted EPS, GAAP	9.25	9.69	11.29	11.58	11.69	9.96	10.11	13.83	15.46	12.94	19.98	30.27	36.51	38.96	35.54
Diluted EPS from Cont Ops	9.36	9.82	11.45	11.74	11.94	10.4	10.74	14.56	16.3	14.06	21.34	31.57	37.98	40.59	37.67
Dividend per Share	2.59	3.15	3.68	4.26	4.7	5.01	5.27	5.63	6	6.32	6.88	7.27	7.86	8.61	9.75
Cash Flow per Share	10.71	11.69	14.2	14.05	15.9	16.94	18.33	18.83	19.05	20.99	18.05	26.19	40.7	43.17	42.07
Free Cash Flow per Basic Share	7.88	8.11	10.28	8.38	10.16	12.25	14.22	14.57	15.01	17.31	13.14	21.16	40.7	43.17	42.07
Cash & Equivalents per Share	4.81	6.48	6.2	3.32	4.45	4.54	5.67	9.58	6.58	10.93	4.64	6.39	13.23	21.19	12.21
Book Value per Share	69.75	76.4	84.62	93.52	105.24	118.62	129.35	141.14	154.66	165.12	184.1	211.3	244.83	280.82	313.42
Tangible Book Value per Share	28.23	33.39	35.96	36.78	17.23	13.11	12.4	21.53	24.26	27.55	29.63	41.89	56.85	63.5	73.4

W.W. Grainger, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)