GRACO INC

Listed Company

GGGCIK 0000042888NYSELarge AcceleratedPumps & Pumping EquipmentMinnesotaFY ends Dec 26

Period

FY 2025

Revenue

$2.24B

Net Income

—

Total Assets

$3.27B

Equity

$2.65B

Shares Out

165.97M

Op. Cash Flow

$683.59M

Business

GRACO INC supplies technology, systems and equipment to move, measure, mix, control, dispense and spray fluid and powder materials for industrial and commercial applications. It designs, manufactures and markets pumps, proportioning systems, sprayers, powder finishing systems, valves, meters and related accessories and services for coatings, adhesives, lubricants, chemicals and other fluids. The Company reports three business segments—Contractor, Industrial and Process—each focused on specialized end markets and product lines. Graco sells worldwide across the Americas, EMEA and Asia Pacific primarily through third-party distributors, selected retailers and select direct sales channels.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Sales	2,237	2,113	2,196	2,144	1,988
Cost of products sold	1,063	991	1,035	1,086	954
Gross Profit	1,173	1,122	1,161	1,057	1,034
Product development	82	87	83	80	80
Selling, marketing and distribution	274	274	261	251	272
General and administrative	206	191	171	154	151
Contingent consideration	−14	0	−9	0	0
Impairment	0	0	8	0	0
Operating Earnings	625	570	647	573	531
Interest expense	3	3	5	10	—
Other (income) expense, net	−19	−22	33	−3	13
Earnings Before Income Taxes	641	589	609	566	508
Income taxes	119	103	102	105	69
Net Earnings	522	486	507	461	440
Basic Net Earnings per Common Share (in dollars per share)	3.14	2.88	3.01	2.73	2.59
Diluted Net Earnings per Common Share (in dollars per share)	3.08	2.82	2.94	2.66	2.52

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	624	675	538	339	624
Accounts receivable, less allowances of $6,000 and $6,000	394	363	354	346	325
Inventories	401	405	438	477	382
Other current assets	53	55	35	44	32
Total current assets	1,472	1,497	1,366	1,206	1,364
Property, Plant and Equipment, net	755	772	742	608	451
Goodwill	585	487	370	368	356
Other Intangible Assets, net	304	233	126	138	150
Operating Lease Assets	26	20	19	30	30
Deferred Income Taxes	36	47	61	57	56
Other Assets	96	83	38	33	37
Total Assets	3,274	3,139	2,722	2,439	2,443
Notes payable to banks	23	29	30	21	43
Current portion of long-term debt	2	0	—	0	75
Trade accounts payable	79	61	72	84	78
Salaries and incentives	73	58	65	64	83
Dividends payable	49	47	43	40	36
Other current liabilities	242	212	185	191	191
Total current liabilities	467	406	395	400	507
Retirement Benefits and Deferred Compensation	87	80	80	62	107
Operating Lease Liabilities	18	12	12	21	24
Deferred Income Taxes	37	38	8	9	11
Other Non-current Liabilities	11	19	2	12	11
Commitments and Contingencies (Note 11)	—	—	—	—	—
Common stock, $1 par value; 291,000,000 shares authorized; 165,150,142 and 169,393,735 shares outstanding in 2025 and 2024	165	169	168	168	170
Additional paid-in-capital	995	955	863	784	742
Retained earnings	1,457	1,509	1,228	977	877
Accumulated other comprehensive income (loss)	38	−50	−35	−69	−80
Total shareholders equity	2,654	2,584	2,224	1,860	1,709
Total Liabilities and Shareholders Equity	3,274	3,139	2,722	2,439	2,443

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	107	87	74	66	59
Deferred income taxes	−9	6	−9	−10	−47
Gain on sale of building	−5	−1	0	—	—
Share-based compensation	34	32	30	25	25
Pension settlement loss	0	0	42	0	12
Contingent consideration	−14	0	−9	0	0
Accounts receivable	−7	10	−3	−30	−14
Inventories	55	56	43	−96	−98
Trade accounts payable	8	−13	−12	4	12
Salaries and incentives	7	−12	−2	−18	29
Retirement benefits and deferred compensation	−571,000	−14	−14	−19	−11
Other accrued liabilities	−11	−11	−5	−4	51
Other	−3	−3	1	−1	−3
Net cash provided by operating activities	684	622	651	377	457
Property, plant and equipment additions	−46	−107	−185	−201	−134
Proceeds from sale of building	11	6	0	—	—
Acquisition of businesses, net of cash acquired	−135	−242	0	−25	−19
Other	−3	59,000	−499,000	−362,000	−347,000
Net cash used in investing activities	−173	−343	−185	−227	−153
(Payments) borrowings on short-term lines of credit, net	−7	−766,000	10	—	—
(Payments) borrowings on short-term lines of credit, net	25,000	0	−75	—	—
Payments of debt issuance costs	0	−2	−1	0	−1
Common stock issued	43	71	60	36	51
Common stock repurchased	−423	−31	−102	−233	0
Taxes paid related to net share settlement of equity awards	−6	−5	−1	−1	0
Cash dividends paid	−183	−172	−158	−142	−127
Net cash used in financing activities	−576	−140	−268	−434	−57
Effect of exchange rate changes on cash	14	−2	1	−1	−1
Net (decrease) increase in cash and cash equivalents	−51	137	199	−285	245

Filings

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