GRACO INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data GRACO INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,329	1,475	1,653	1,646	1,650	1,988	2,144	2,196	2,113	2,237
Cost of revenue	618	680	771	786	795	954	1,086	1,035	991	1,063
Gross profit	711	795	883	860	855	1,034	1,057	1,161	1,122	1,173
Research and development	59.6	59.2	63.1	67.6	72.2	79.7	80	82.8	87.2	82.3
Selling and marketing	213	231	245	234	220	272	251	261	274	274
General and administrative	125	126	138	133	136	151	154	171	191	206
Operating income	121	379	436	424	392	531	573	647	570	625
Interest expense	17.6	16.2	14.4	13.1	11.3	10.2	9.9	5.19	2.83	2.89
Other non-operating income	-6.9	-15.4	-11.3	-5.47	-5.79	-12.6	2.92	-32.9	22	19.3
Pre-tax income	96.7	347	411	406	375	508	566	609	589	641
Income tax	56	94.7	69.7	62	44.2	68.6	105	102	103	119
Net income	40.7	252	341	344	330	440	461	507	486	522
EBITDA	169	424	484	473	447	591	639	721	657	732
EPS, basic	0.24	1.50	2.04	2.06	1.97	2.59	2.73	3.01	2.88	3.14
EPS, diluted	0.24	1.45	1.97	2.00	1.92	2.52	2.66	2.94	2.82	3.08
Shares, diluted (weighted)	171	174	173	172	172	175	173	172	172	169
Dividend per share	0.45	0.49	0.56	0.66	0.71	0.77	0.87	0.96	1.04	1.12

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	52.4	104	132	221	379	624	339	538	675	624
Receivables	218	266	275	267	315	325	346	354	363	394
Inventory	202	239	284	273	286	382	477	438	405	401
Other current assets	31	34.2	32.5	29.9	44.2	31.9	43.6	35.1	54.9	52.9
Total current assets	503	643	723	791	1,024	1,364	1,206	1,366	1,497	1,472
Property, plant and equipment	190	204	229	326	351	451	608	742	772	755
Lease right-of-use assets			0	29.9	37.8	30	29.8	18.8	19.7	26.1
Goodwill	260	279	294	308	348	356	368	370	487	585
Intangible assets	178	183	166	163	161	150	138	126	233	304
Other non-current assets	25.3	30.2	28	35.7	41.7	36.7	33.1	37.9	82.8	96.1
Total assets	1,243	1,391	1,473	1,692	1,988	2,443	2,439	2,722	3,139	3,274
Accounts payable	40	48.7	56.9	54.1	58.3	78.4	84.2	72.2	60.8	78.6
Accrued liabilities	37.1	55.9	62.3	51.3	52	82.9	64	64.8	58.2	73.4
Deferred revenue		22.6	40	33.1	41.7	60.6	50.7	51.6	52.5	94
Short-term debt	0		0		0	75	0		0	1.62
Total current liabilities	178	246	300	285	321	507	400	395	406	467
Long-term debt	306	226	266	164	150	75	75	0
Lease liabilities			0	24.2	29.2	23.5	21.1	11.8	12.3	18.1
Other non-current liabilities	8.7	6.02	4.7	0	8.6	11	12.2	2.24	18.8	11.1
Total liabilities	669	668	721	667	704	734	579	498	555	620
Total debt	306	226	266	164	150	150	75	0	0	1.62
Paid-in capital	453	500	511	578	671	742	784	863	955	995
Retained earnings	207	182	221	449	568	877	977	1,228	1,509	1,457
Other comprehensive income	-142	-128	-145	-170	-124	-80.2	-69.4	-35	-49.6	37.5
Shareholders' equity							1,860	2,224	2,584	2,654
Total equity	574	723	752	1,025	1,284	1,709	1,860	2,224	2,584	2,654
Total liabilities and equity	1,243	1,391	1,473	1,692	1,988	2,443	2,439	2,722	3,139	3,274
Shares outstanding	168	169	165	167			168	168	169	165

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	40.7	252	341	344	330	440	461	507	486	522
Depreciation and amortization	48.3	45.6	47.8	48.9	55.3	59.3	66	74.3	86.7	107
Stock-based compensation	21.1	23.7	25.6	26.7	25.2	24.9	24.7	30.2	31.9	34.3
Deferred income tax	-34.2	30.1	15.4	-6.61	10.7	-46.6	-10	-8.5	6.06	-4.54
Change in receivables	4.51	-37.7	-12.4	8.93	-43.1	-13.8	-29.9	-3.25	10.3	-7.38
Change in inventory	-0.69	-32	-30.7	12.4	-13.1	-97.8	-95.7	42.7	55.8	55.2
Cash from operations	276	338	368	419	394	457	377	651	622	684
Capital expenditures	-42.1	-40.2	-53.9	-128	-71.3	-134	-201	-185	-107	-45.7
Acquisitions	-48.9	-27.9	-10.8	-26.6	-27.6	-19.4	-25.3	0	-242	-135
Cash from investing	-91.2	-68.4	-66.2	-155	-99	-153	-227	-185	-343	-173
Debt issued	648	316	621	105	250	0	0
Debt repaid	-735	-396	-583	-207	-250	-0.07	-75	-75	0
Stock issued	35.8	60.7	24.6	48.3	83.4	51	35.6	60.2	70.7	43
Share buybacks	-50.5	-90.2	-245	-9.48	-102	0	-233	-102	-31.4	-423
Dividends paid	-73.4	-80.5	-88.8	-106	-117	-127	-142	-158	-172	-183
Cash from financing	-185	-217	-283	-174	-139	-57.1	-434	-268	-140	-576
Exchange rate effect	0.16	-1.03	0.19	-0.36	2.41	-1.06	-1.28	1.02	-1.64	14
Net change in cash	-0.22	51.3	19.2	88.9	158	245	-285	199	137	-51.3
Free cash flow	234	298	314	291	323	323	176	466	515	638
Interest paid	17.6	16.5	14	13.5	11.3	9.8	10	6	3	3
Income taxes paid	78.6	61	58.1	67.1	44	112	112	111	104	111

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 26, 2026; growth uses fiscal years. Valuation uses the share price of $77.86 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	52.6%	Gross profit / revenue.
Operating margin	28.1%	Operating income / revenue.
EBITDA margin	32.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	28.8%	Pre-tax income / revenue.
Net margin	23.5%	Net income / revenue.
FCF margin	27.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	29.7%	Cash from operations / revenue.
Effective tax rate	18.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	21.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	17.0%	Net income / average total assets.
Return on invested capital (ROIC)	25.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	3.6%	Research and development expense / revenue.
Stock-based pay / revenue	1.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.9%	Capital expenditures / revenue.
D&A / revenue	4.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	9.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	2.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	9.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	11.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	10.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	7.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	4.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	9.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	9.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	5.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	9.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	10.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	21.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	11.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	23.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	53.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	14.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	7.7%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	9.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	9.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	2.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	4.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	10.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.99x	Current assets / current liabilities.
Quick ratio	2.03x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.10x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	19.4%	Total liabilities / total assets.
Interest coverage	199x	Operating income / interest expense.
Working capital	$915.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	27.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.66B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.72x	Revenue / average total assets.
Fixed asset turnover	3.03x	Revenue / average property, plant and equipment.
Inventory turnover	2.73x	Cost of revenue / average inventory.
Days inventory	134 days	365 x average inventory / cost of revenue.
Receivables turnover	5.34x	Revenue / average receivables.
Days sales outstanding	68 days	365 x average receivables / revenue.
Days payables	35 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	168 days	Days inventory + days sales outstanding - days payables.
FCF conversion	118.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.22	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$13.68	Revenue / diluted weighted shares.
FCF per share	$3.80	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.06	Cash from operations / diluted weighted shares.
Book value per share	$15.22	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$10.04	Tangible book value / shares outstanding.
Cash per share	$3.06	(Cash + short-term investments) / shares outstanding.
Payout ratio	35.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	30.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	62.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$12.61B	Share price x shares outstanding.
Enterprise value	$12.10B	Market cap + total debt - cash - short-term investments.
P/E	23.6x	Market cap / net income. Only when net income is positive.
P/S	5.56x	Market cap / revenue.
P/B	5.00x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	7.58x	Market cap / tangible book value, when positive.
P/FCF	20.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	18.7x	Market cap / cash from operations, when positive.
EV/Sales	5.34x	Enterprise value / revenue.
EV/EBIT	19.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	16.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	19.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.0%	Free cash flow / market cap.
Earnings yield	4.2%	Net income / market cap (the inverse of P/E).
Dividend yield	1.5%	Dividends paid over the period / market cap.
Shareholder yield	4.6%	(Dividends paid + share buybacks) / market cap.
PEG	4.72x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was GRACO INC's revenue in fiscal 2025?

GRACO INC reported revenue of $2.24B for fiscal 2025, 5.8% higher than the year before.

Was GRACO INC profitable in fiscal 2025?

Yes. Net income was $521.8M, a net margin of 23.3%.

How much free cash flow did GRACO INC generate in fiscal 2025?

Cash from operations of $683.6M minus capital expenditures of $45.7M left free cash flow of $637.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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