Intrinsic value of W.W. Grainger - GWW

Previous Close

$357.73

  Intrinsic Value

$177.30

stock screener

  Rating & Target

str. sell

-50%

Previous close

$357.73

 
Intrinsic value

$177.30

 
Up/down potential

-50%

 
Rating

str. sell

We calculate the intrinsic value of GWW stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 20.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.80
  3.02
  3.22
  3.40
  3.56
  3.70
  3.83
  3.95
  4.05
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
Revenue, $m
  10,717
  11,041
  11,396
  11,783
  12,202
  12,654
  13,138
  13,657
  14,210
  14,800
  15,426
  16,091
  16,796
  17,542
  18,330
  19,164
  20,044
  20,973
  21,952
  22,984
  24,072
  25,218
  26,424
  27,694
  29,030
  30,435
  31,914
  33,469
  35,104
  36,822
Variable operating expenses, $m
  9,535
  9,820
  10,132
  10,472
  10,841
  11,238
  11,664
  12,120
  12,607
  13,125
  13,565
  14,149
  14,769
  15,425
  16,118
  16,851
  17,625
  18,442
  19,303
  20,211
  21,167
  22,174
  23,235
  24,352
  25,526
  26,762
  28,063
  29,430
  30,867
  32,379
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  9,535
  9,820
  10,132
  10,472
  10,841
  11,238
  11,664
  12,120
  12,607
  13,125
  13,565
  14,149
  14,769
  15,425
  16,118
  16,851
  17,625
  18,442
  19,303
  20,211
  21,167
  22,174
  23,235
  24,352
  25,526
  26,762
  28,063
  29,430
  30,867
  32,379
Operating income, $m
  1,182
  1,221
  1,264
  1,311
  1,361
  1,416
  1,474
  1,537
  1,604
  1,675
  1,862
  1,942
  2,027
  2,117
  2,212
  2,313
  2,419
  2,531
  2,649
  2,774
  2,905
  3,043
  3,189
  3,342
  3,503
  3,673
  3,851
  4,039
  4,236
  4,444
EBITDA, $m
  1,553
  1,600
  1,651
  1,707
  1,768
  1,833
  1,903
  1,979
  2,059
  2,144
  2,235
  2,331
  2,433
  2,541
  2,656
  2,776
  2,904
  3,038
  3,180
  3,330
  3,487
  3,653
  3,828
  4,012
  4,206
  4,409
  4,624
  4,849
  5,086
  5,335
Interest expense (income), $m
  63
  126
  132
  139
  146
  154
  163
  172
  182
  193
  204
  217
  229
  243
  258
  273
  289
  306
  325
  344
  364
  385
  408
  431
  456
  482
  510
  539
  569
  601
  635
Earnings before tax, $m
  1,055
  1,089
  1,125
  1,164
  1,207
  1,253
  1,302
  1,354
  1,411
  1,470
  1,645
  1,712
  1,784
  1,859
  1,939
  2,023
  2,112
  2,206
  2,305
  2,410
  2,520
  2,636
  2,758
  2,886
  3,021
  3,163
  3,313
  3,470
  3,635
  3,809
Tax expense, $m
  285
  294
  304
  314
  326
  338
  351
  366
  381
  397
  444
  462
  482
  502
  524
  546
  570
  596
  622
  651
  680
  712
  745
  779
  816
  854
  894
  937
  981
  1,028
Net income, $m
  771
  795
  821
  850
  881
  914
  950
  989
  1,030
  1,073
  1,201
  1,250
  1,302
  1,357
  1,415
  1,477
  1,542
  1,611
  1,683
  1,759
  1,839
  1,924
  2,013
  2,107
  2,205
  2,309
  2,418
  2,533
  2,654
  2,780

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,967
  6,147
  6,345
  6,561
  6,794
  7,045
  7,315
  7,604
  7,912
  8,240
  8,589
  8,959
  9,352
  9,767
  10,206
  10,670
  11,160
  11,677
  12,223
  12,797
  13,403
  14,041
  14,713
  15,420
  16,164
  16,946
  17,769
  18,635
  19,545
  20,502
Adjusted assets (=assets-cash), $m
  5,967
  6,147
  6,345
  6,561
  6,794
  7,045
  7,315
  7,604
  7,912
  8,240
  8,589
  8,959
  9,352
  9,767
  10,206
  10,670
  11,160
  11,677
  12,223
  12,797
  13,403
  14,041
  14,713
  15,420
  16,164
  16,946
  17,769
  18,635
  19,545
  20,502
Revenue / Adjusted assets
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
  1.796
Average production assets, $m
  2,593
  2,672
  2,758
  2,851
  2,953
  3,062
  3,179
  3,305
  3,439
  3,582
  3,733
  3,894
  4,065
  4,245
  4,436
  4,638
  4,851
  5,075
  5,312
  5,562
  5,825
  6,103
  6,395
  6,702
  7,025
  7,365
  7,723
  8,099
  8,495
  8,911
Working capital, $m
  718
  740
  764
  789
  818
  848
  880
  915
  952
  992
  1,034
  1,078
  1,125
  1,175
  1,228
  1,284
  1,343
  1,405
  1,471
  1,540
  1,613
  1,690
  1,770
  1,855
  1,945
  2,039
  2,138
  2,242
  2,352
  2,467
Total debt, $m
  2,454
  2,577
  2,713
  2,860
  3,020
  3,192
  3,377
  3,575
  3,786
  4,011
  4,250
  4,503
  4,772
  5,056
  5,357
  5,675
  6,011
  6,365
  6,739
  7,132
  7,547
  7,984
  8,444
  8,929
  9,438
  9,974
  10,538
  11,131
  11,755
  12,410
Total liabilities, $m
  4,087
  4,211
  4,346
  4,494
  4,654
  4,826
  5,011
  5,209
  5,420
  5,645
  5,884
  6,137
  6,406
  6,690
  6,991
  7,309
  7,645
  7,999
  8,373
  8,766
  9,181
  9,618
  10,078
  10,562
  11,072
  11,608
  12,172
  12,765
  13,389
  14,044
Total equity, $m
  1,880
  1,936
  1,999
  2,067
  2,140
  2,219
  2,304
  2,395
  2,492
  2,596
  2,706
  2,822
  2,946
  3,077
  3,215
  3,361
  3,515
  3,678
  3,850
  4,031
  4,222
  4,423
  4,634
  4,857
  5,092
  5,338
  5,597
  5,870
  6,157
  6,458
Total liabilities and equity, $m
  5,967
  6,147
  6,345
  6,561
  6,794
  7,045
  7,315
  7,604
  7,912
  8,241
  8,590
  8,959
  9,352
  9,767
  10,206
  10,670
  11,160
  11,677
  12,223
  12,797
  13,403
  14,041
  14,712
  15,419
  16,164
  16,946
  17,769
  18,635
  19,546
  20,502
Debt-to-equity ratio
  1.310
  1.330
  1.360
  1.380
  1.410
  1.440
  1.470
  1.490
  1.520
  1.550
  1.570
  1.600
  1.620
  1.640
  1.670
  1.690
  1.710
  1.730
  1.750
  1.770
  1.790
  1.810
  1.820
  1.840
  1.850
  1.870
  1.880
  1.900
  1.910
  1.920
Adjusted equity ratio
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  771
  795
  821
  850
  881
  914
  950
  989
  1,030
  1,073
  1,201
  1,250
  1,302
  1,357
  1,415
  1,477
  1,542
  1,611
  1,683
  1,759
  1,839
  1,924
  2,013
  2,107
  2,205
  2,309
  2,418
  2,533
  2,654
  2,780
Depreciation, amort., depletion, $m
  371
  378
  387
  396
  407
  418
  429
  442
  455
  469
  373
  389
  406
  425
  444
  464
  485
  508
  531
  556
  583
  610
  639
  670
  703
  737
  772
  810
  850
  891
Funds from operations, $m
  1,141
  1,173
  1,208
  1,246
  1,288
  1,332
  1,380
  1,431
  1,485
  1,543
  1,574
  1,639
  1,709
  1,782
  1,859
  1,941
  2,027
  2,118
  2,214
  2,315
  2,422
  2,534
  2,653
  2,777
  2,908
  3,046
  3,191
  3,343
  3,503
  3,672
Change in working capital, $m
  20
  22
  24
  26
  28
  30
  32
  35
  37
  39
  42
  45
  47
  50
  53
  56
  59
  62
  66
  69
  73
  77
  81
  85
  90
  94
  99
  104
  110
  115
Cash from operations, $m
  1,122
  1,151
  1,184
  1,220
  1,259
  1,302
  1,347
  1,396
  1,448
  1,503
  1,532
  1,595
  1,661
  1,732
  1,806
  1,885
  1,968
  2,056
  2,149
  2,246
  2,349
  2,458
  2,572
  2,692
  2,818
  2,951
  3,091
  3,239
  3,394
  3,556
Maintenance CAPEX, $m
  -252
  -259
  -267
  -276
  -285
  -295
  -306
  -318
  -330
  -344
  -358
  -373
  -389
  -406
  -425
  -444
  -464
  -485
  -508
  -531
  -556
  -583
  -610
  -639
  -670
  -703
  -737
  -772
  -810
  -850
New CAPEX, $m
  -74
  -78
  -86
  -94
  -101
  -109
  -117
  -126
  -134
  -143
  -152
  -161
  -171
  -180
  -191
  -202
  -213
  -225
  -237
  -250
  -263
  -277
  -292
  -307
  -323
  -340
  -358
  -376
  -396
  -416
Cash from investing activities, $m
  -326
  -337
  -353
  -370
  -386
  -404
  -423
  -444
  -464
  -487
  -510
  -534
  -560
  -586
  -616
  -646
  -677
  -710
  -745
  -781
  -819
  -860
  -902
  -946
  -993
  -1,043
  -1,095
  -1,148
  -1,206
  -1,266
Free cash flow, $m
  796
  814
  831
  851
  873
  897
  924
  952
  983
  1,017
  1,022
  1,061
  1,101
  1,145
  1,191
  1,240
  1,291
  1,346
  1,404
  1,465
  1,530
  1,598
  1,670
  1,745
  1,825
  1,909
  1,997
  2,090
  2,188
  2,291
Issuance/(repayment) of debt, $m
  111
  123
  136
  148
  160
  172
  185
  198
  211
  225
  239
  254
  269
  284
  301
  318
  336
  354
  374
  394
  415
  437
  460
  484
  510
  536
  564
  593
  624
  656
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  111
  123
  136
  148
  160
  172
  185
  198
  211
  225
  239
  254
  269
  284
  301
  318
  336
  354
  374
  394
  415
  437
  460
  484
  510
  536
  564
  593
  624
  656
Total cash flow (excl. dividends), $m
  907
  937
  967
  999
  1,033
  1,069
  1,108
  1,150
  1,194
  1,242
  1,261
  1,314
  1,370
  1,429
  1,492
  1,558
  1,627
  1,700
  1,778
  1,859
  1,945
  2,035
  2,130
  2,229
  2,334
  2,445
  2,561
  2,683
  2,812
  2,946
Retained Cash Flow (-), $m
  -52
  -57
  -62
  -68
  -74
  -79
  -85
  -91
  -97
  -103
  -110
  -117
  -124
  -131
  -138
  -146
  -154
  -163
  -172
  -181
  -191
  -201
  -212
  -223
  -234
  -247
  -259
  -273
  -287
  -301
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  31
  32
  33
  34
  35
  37
  38
  39
  41
  43
  44
  46
  48
  50
  53
  55
  57
  60
  63
  66
  69
  72
  76
  79
  83
  87
  91
  96
  100
  105
Cash available for distribution, $m
  855
  880
  904
  931
  959
  990
  1,023
  1,059
  1,097
  1,138
  1,151
  1,198
  1,247
  1,298
  1,353
  1,411
  1,473
  1,537
  1,606
  1,678
  1,754
  1,834
  1,918
  2,007
  2,100
  2,198
  2,302
  2,410
  2,525
  2,645
Discount rate, %
  5.20
  5.46
  5.73
  6.02
  6.32
  6.64
  6.97
  7.32
  7.68
  8.07
  8.47
  8.89
  9.34
  9.81
  10.30
  10.81
  11.35
  11.92
  12.51
  13.14
  13.80
  14.49
  15.21
  15.97
  16.77
  17.61
  18.49
  19.41
  20.38
  21.40
PV of cash for distribution, $m
  813
  792
  765
  737
  706
  673
  639
  602
  564
  524
  471
  431
  391
  350
  311
  273
  237
  203
  171
  142
  116
  93
  74
  57
  44
  32
  24
  17
  12
  8
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

W.W. Grainger, Inc. (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America. The Company operates through two segments, which include the United States and Canada. The Company's business support functions provide coordination and guidance in the areas of accounting and finance, business development, communications and investor relations, compensation and benefits, information systems, health and safety, global supply chain functions, human resources, risk management, internal audit, legal, real estate, security, tax and treasury. The Company's other businesses also include Zoro Tools, Inc. (Zoro), the single channel online business in the United States, MonotaRO Co. (MonotaRO) in Japan, and operations in Europe, Asia and Latin America.

FINANCIAL RATIOS  of  W.W. Grainger (GWW)

Valuation Ratios
P/E Ratio 34.7
Price to Sales 2.1
Price to Book 11.7
Price to Tangible Book
Price to Cash Flow 21
Price to Free Cash Flow 29.3
Growth Rates
Sales Growth Rate 1.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -24.1%
Cap. Spend. - 3 Yr. Gr. Rate 0.9%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 102.4%
Total Debt to Equity 125%
Interest Coverage 17
Management Effectiveness
Return On Assets 11.2%
Ret/ On Assets - 3 Yr. Avg. 13.6%
Return On Total Capital 14.6%
Ret/ On T. Cap. - 3 Yr. Avg. 18.5%
Return On Equity 29.8%
Return On Equity - 3 Yr. Avg. 27.6%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 40.6%
Gross Margin - 3 Yr. Avg. 42.1%
EBITDA Margin 13.1%
EBITDA Margin - 3 Yr. Avg. 14.6%
Operating Margin 11%
Oper. Margin - 3 Yr. Avg. 12.5%
Pre-Tax Margin 10.1%
Pre-Tax Margin - 3 Yr. Avg. 12%
Net Profit Margin 6%
Net Profit Margin - 3 Yr. Avg. 7.2%
Effective Tax Rate 37.9%
Eff/ Tax Rate - 3 Yr. Avg. 38.1%
Payout Ratio 50%

GWW stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GWW stock intrinsic value calculation we used $10425 million for the last fiscal year's total revenue generated by W.W. Grainger. The default revenue input number comes from 2017 income statement of W.W. Grainger. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GWW stock valuation model: a) initial revenue growth rate of 2.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.2%, whose default value for GWW is calculated based on our internal credit rating of W.W. Grainger, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of W.W. Grainger.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GWW stock the variable cost ratio is equal to 89%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GWW stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for W.W. Grainger.

Corporate tax rate of 27% is the nominal tax rate for W.W. Grainger. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GWW stock is equal to 0.3%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GWW are equal to 24.2%.

Life of production assets of 10 years is the average useful life of capital assets used in W.W. Grainger operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GWW is equal to 6.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1828 million for W.W. Grainger - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 58 million for W.W. Grainger is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of W.W. Grainger at the current share price and the inputted number of shares is $20.7 billion.

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COMPANY NEWS

▶ Grainger Declares Quarterly Dividend   [10:02AM  PR Newswire]
▶ 5 Low-Beta Stocks to Combat Trade and Geopolitical Tensions   [Jul-24-18 12:45PM  InvestorPlace]
▶ Company News For Jul 19, 2018   [Jul-19-18 09:50AM  Zacks]
▶ W.W. Grainger: 2Q Earnings Snapshot   [08:11AM  Associated Press]
▶ W W Grainger's Earnings Outlook   [Jul-17-18 03:59PM  Benzinga]
▶ 6 Dividend Aristocrats to Buy as Trump Irks G7   [Jun-11-18 01:33PM  InvestorPlace]
▶ HD Supply Earnings Top; Stock Jumps   [Jun-05-18 04:04PM  Investor's Business Daily]
▶ Grainger To Present At Upcoming Investor Conferences   [May-17-18 10:00AM  PR Newswire]
▶ 3 Growth Stocks to Buy and Hold for 25 Years   [May-09-18 06:03AM  Motley Fool]
▶ Why Dividend Aristocrat W.W. Grainger Isnt a Value Stock   [May-05-18 07:17AM  Motley Fool]
▶ W.W. Grainger: 1Q Earnings Snapshot   [08:13AM  Associated Press]
▶ Edited Transcript of GWW presentation 7-Mar-17 1:05pm GMT   [Apr-10-18 03:24PM  Thomson Reuters StreetEvents]
▶ 3 Smart Buys For Big Spring Dividend Hikes   [Apr-04-18 08:36AM  Forbes]
▶ [$$] Grainger Recruits Advance Auto Parts CFO   [Apr-03-18 12:24PM  The Wall Street Journal]
▶ Advance Auto Parts CFO resigns for role at Grainger   [Apr-02-18 06:23PM  American City Business Journals]
▶ Grainger Names Thomas Okray CFO   [04:25PM  PR Newswire]
▶ Should You Buy WW. Grainger Inc. (NYSE:GWW) At $255.3?   [Mar-03-18 08:03PM  Simply Wall St.]
▶ How Safe Is W.W. Grainger's (GWW) Dividend?   [Feb-07-18 08:04AM  Motley Fool]
▶ Grainger Declares Quarterly Dividend   [Jan-31-18 10:59AM  PR Newswire]
▶ Dow Industrials Edge Higher   [12:26AM  The Wall Street Journal]
▶ What Happened in the Stock Market Today   [Jan-24-18 05:05PM  Motley Fool]
▶ The Hot Stock: W.W. Grainger Gains 18.5%   [04:21PM  Barrons.com]
▶ U.S. Stocks Little Changed on Mixed Earnings Reports   [01:19PM  The Wall Street Journal]
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