GWW · 10-Q · 2026Q3 · Full report
Liquidity and Debt Position
W.W. GRAINGER, INC. · 2026-11-04 · Importance 51 · Surprise 38 · From source text
Cash and cash equivalents were $768 million at September 30, 2026, compared with $585 million at December 31, 2025, and available liquidity was approximately $2.0 billion. Working capital was $3,651 million, up $136 million from year-end 2025, while the current ratio declined to 2.8 from 3.0. Debt represented 36.2% of total capitalization, down from 37.5% at year-end 2025, and Moody’s and S&P rated Grainger’s corporate credit investment grade.
Key facts
- Grainger had cash and cash equivalents of $768 million at September 30, 2026, compared with $585 million at December 31, 2025, and approximately $2.0 billion of available liquidity at September 30, 2026. source
- For the nine months ended September 30, 2026 and 2025, net cash used in financing activities was $1,027 million and $1,599 million, respectively; the decrease was primarily due to repayment of $500 million of 1.85% Senior Notes in 2025. source
- Grainger working capital was $3,651 million at September 30, 2026, up $136 million from $3,515 million at December 31, 2025; its current ratio was 2.8 and 3.0 on those dates, respectively. source
- On August 26, 2026, Grainger acquired technology, intellectual property, and talent assets from Adroit Worldwide Media, Inc. for $215 million: $210 million cash paid at closing and a $5 million payment made before closing. source
- For the nine months ended September 30, 2026 and 2025, Grainger's net cash used in investing activities was $628 million and $543 million, respectively; 2026 investing activity was higher primarily due to the Adroit Worldwide Media, Inc. asset acquisition. source
- Grainger expects cash, cash equivalents, marketable securities, and availability under its revolving credit facility supporting its commercial paper program to meet liquidity needs for the next twelve months. source
- Grainger expects to continue investing in its business and returning excess cash to shareholders through dividends and share repurchases, funded by operating cash flows. source
- Total debt as a percentage of total capitalization was 36.2% at September 30, 2026, compared with 37.5% at December 31, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +5.7% | For the nine months ended September 30, 2026 and 2025, net cash used in financing activities was $1,027 million and $1,599 million,… |
| assets | positive | realized | +2.1% | On August 26, 2026, Grainger acquired technology, intellectual property, and talent assets from Adroit Worldwide Media, Inc. for $215… |
| cash | negative | realized | -2.1% | On August 26, 2026, Grainger acquired technology, intellectual property, and talent assets from Adroit Worldwide Media, Inc. for $215… |
| cash | positive | realized | +1.8% | Grainger had cash and cash equivalents of $768 million at September 30, 2026, compared with $585 million at December 31, 2025, and… |