W.W. Grainger
W.W. Grainger returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 33.31% | 38.09% | -5.84% | 47.92% | 20.16% | 25.6 pp |
| FY 2026 Q1 | Mar 31, 2026 | 33.67% | 37.6% | -15.78% | 48.1% | 19.66% | 26 pp |
| FY 2025 Q4 | Dec 31, 2025 | 32.32% | 36.84% | -28.95% | 48.1% | 19.18% | 24.6 pp |
| FY 2025 Q3 | Sep 30, 2025 | 32.63% | 36.77% | -66.29% | 48.98% | 19.26% | 24.9 pp |
| FY 2025 Q2 | Jun 30, 2025 | 35.92% | 41.41% | 54.35% | 55.3% | 22.23% | 28.2 pp |
| FY 2025 Q1 | Mar 31, 2025 | 37.14% | 42.2% | — | 57.19% | 22.39% | 29.4 pp |
| FY 2024 Q4 | Dec 31, 2024 | 38.57% | 41.07% | 21.24% | 58.98% | 22.49% | 30.9 pp |
| FY 2024 Q3 | Sep 30, 2024 | 36.22% | 39.48% | 1.39% | 55.48% | 21.2% | 28.5 pp |
| FY 2024 Q2 | Jun 30, 2024 | 36.43% | 42.13% | 7.92% | 58.56% | 22.21% | 28.7 pp |
| FY 2024 Q1 | Mar 31, 2024 | 37.31% | 43.39% | 25.25% | 61.31% | 22.42% | 29.6 pp |
| FY 2023 Q4 | Dec 31, 2023 | 39.81% | 43.13% | 81.71% | 65.85% | 23.25% | 32.1 pp |
| FY 2023 Q3 | Sep 30, 2023 | 40.28% | 43.78% | 72.04% | 67.36% | 23.7% | 32.6 pp |
| FY 2023 Q2 | Jun 30, 2023 | 39.57% | 43.61% | 91.65% | 68.85% | 23.45% | 31.9 pp |
| FY 2023 Q1 | Mar 31, 2023 | — | 42.34% | — | 69.31% | 22.53% | — |
| FY 2022 Q4 | Dec 31, 2022 | 36.96% | 41.63% | 112.58% | 71.72% | 21.82% | 29.3 pp |
| FY 2022 Q3 | Sep 30, 2022 | 35.94% | 40.72% | 131.93% | 69.94% | 21.28% | 28.2 pp |
| FY 2022 Q2 | Jun 30, 2022 | 33.88% | 37.81% | 80.99% | 64.73% | 19.5% | 26.2 pp |
| FY 2022 Q1 | Mar 31, 2022 | — | 34.28% | — | 60.1% | 17.57% | — |
| FY 2021 Q4 | Dec 31, 2021 | 28.35% | 31.2% | 92.58% | 56.35% | 16.19% | 20.7 pp |
| FY 2021 Q3 | Sep 30, 2021 | 25.85% | 28.15% | 123.85% | 46.89% | 14.31% | 18.2 pp |
| FY 2021 Q2 | Jun 30, 2021 | 25.1% | 25.23% | 309.88% | 45.88% | 12.76% | 17.4 pp |
| FY 2021 Q1 | Mar 31, 2021 | 22.51% | 23.25% | 51.9% | 41.92% | 11.25% | 14.8 pp |
| FY 2020 Q4 | Dec 31, 2020 | 20.78% | 22.2% | — | 37.74% | 11.3% | 13.1 pp |
| FY 2020 Q3 | Sep 30, 2020 | 18.77% | 19.49% | — | 31.48% | 10.08% | 11.1 pp |
| FY 2020 Q2 | Jun 30, 2020 | 18.45% | 17.07% | — | 32.35% | 9.45% | 10.8 pp |
| FY 2020 Q1 | Mar 31, 2020 | 22.05% | 20.69% | — | 40.68% | 11.66% | 14.3 pp |
| FY 2019 Q4 | Dec 31, 2019 | 24.3% | 29.01% | 37.58% | 44.97% | 14.3% | 16.6 pp |
| FY 2019 Q3 | Sep 30, 2019 | 26.62% | 31.11% | 125.97% | 49.99% | 16.11% | 18.9 pp |
| FY 2019 Q2 | Jun 30, 2019 | 22.6% | 27.1% | — | 43.09% | 13.89% | 14.9 pp |
| FY 2019 Q1 | Mar 31, 2019 | 22.23% | 26.5% | — | 42.64% | 13.48% | 14.5 pp |
| FY 2018 Q4 | Dec 31, 2018 | 23.15% | 26.71% | — | 42.98% | 13.39% | 15.4 pp |
| FY 2018 Q3 | Sep 30, 2018 | 21.67% | 24.9% | — | 38.82% | 12.31% | 14 pp |
| FY 2018 Q2 | Jun 30, 2018 | 22.55% | 26.87% | 869.61% | 42.92% | 13.28% | 14.9 pp |
| FY 2018 Q1 | Mar 31, 2018 | 19.04% | 25.62% | 103.09% | 35.81% | 11% | 11.3 pp |
| FY 2017 Q4 | Dec 31, 2017 | 18.08% | 25.08% | — | 33.32% | 10.19% | 10.4 pp |
| FY 2017 Q3 | Sep 30, 2017 | 14.72% | 22.39% | — | 25.82% | 8.46% | 7 pp |
| FY 2017 Q2 | Jun 30, 2017 | 15.04% | 23.35% | — | 26.73% | 8.78% | 7.3 pp |
| FY 2017 Q1 | Mar 31, 2017 | 16.96% | 26.85% | — | 29.01% | 10.11% | 9.3 pp |
| FY 2016 Q4 | Dec 31, 2016 | 17.53% | 27.52% | — | 29.55% | 10.49% | 9.8 pp |
| FY 2016 Q3 | Sep 30, 2016 | 18.9% | 27.81% | -26.04% | 31.13% | 11.81% | 11.2 pp |
| FY 2016 Q2 | Jun 30, 2016 | 19.47% | 26.69% | -13.25% | 26.84% | 11.82% | 11.8 pp |
| FY 2016 Q1 | Mar 31, 2016 | 20.7% | 31.66% | -1.95% | 27.37% | 13.33% | 13 pp |
| FY 2015 Q4 | Dec 31, 2015 | 21.5% | 32.14% | -0.73% | 27.81% | 13.8% | 13.8 pp |
| FY 2015 Q3 | Sep 30, 2015 | 21.29% | 31.21% | — | 26.62% | 13.88% | 13.6 pp |
| FY 2015 Q2 | Jun 30, 2015 | 22.67% | 30.34% | — | 25.18% | 14.56% | 15 pp |
| FY 2015 Q1 | Mar 31, 2015 | 22.9% | 33.68% | — | 24.8% | 15.24% | 15.2 pp |
| FY 2014 Q4 | Dec 31, 2014 | 23.49% | 33.29% | 6.28% | 24.53% | 15.2% | 15.8 pp |
| FY 2014 Q3 | Sep 30, 2014 | — | 32.05% | — | 24.15% | 15.31% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | 31.56% | — | 24.2% | 15.28% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | 32.32% | — | 25.15% | 15.65% | — |
| FY 2013 Q4 | Dec 31, 2013 | 24.4% | 32.4% | 50.88% | 25.41% | 15.51% | 16.7 pp |
| FY 2013 Q3 | Sep 30, 2013 | — | 32.15% | — | 25.88% | 15.56% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | 30.76% | — | 24.87% | 15.14% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | 31.02% | — | 24.17% | 14.63% | — |
| FY 2012 Q4 | Dec 31, 2012 | 23.05% | 31.15% | 12.39% | 24.41% | 14.18% | 15.4 pp |
| FY 2012 Q3 | Sep 30, 2012 | — | 30.92% | — | 25.23% | 14.31% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 33.03% | — | 26.83% | 15.82% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | 32.8% | — | 26.99% | 15.84% | — |
| FY 2011 Q4 | Dec 31, 2011 | 24.82% | 33.08% | 34.19% | 27.24% | 15.28% | 17.1 pp |
| FY 2011 Q3 | Sep 30, 2011 | — | 34.34% | — | 27.87% | 15.4% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | 32.72% | — | 26.35% | 15.39% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | 30.19% | — | 24.7% | 14.71% | — |
| FY 2010 Q4 | Dec 31, 2010 | 21.74% | 28.76% | 64% | 23.39% | 13.39% | 14 pp |
| FY 2010 Q3 | Sep 30, 2010 | — | 27.31% | — | 21.77% | 12.63% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | 26.05% | — | 22.08% | 13.17% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · GWW, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.