Graco Inc., founded in 1926 and headquartered in Minneapolis, Minnesota, manufactures high-performance fluid handling systems for industrial and construction applications. The company offers advanced products such as paint sprayers, lubrication systems, and pumps, contributing to annual revenues over $2 billion. Under the leadership of CEO Kevin P. Davis since 2013, Graco leverages robust R&D and an extensive distribution network to maintain its competitive edge. Strategic investments in digital solutions and advanced manufacturing aim to drive sustainable global growth.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
2,236,600
2,113,320
2,195,610
2,143,520
Cost of Sales
1,063,420
990,855
1,034,590
1,086,080
Gross Profit
1,173,180
1,122,460
1,161,020
1,057,440
Selling, General & Administrative Expenses
480,150
465,133
432,156
404,731
Research & Development Expenses
82,297
87,230
82,822
80,008
Other Operating Expenses
(14,061)
—
(800)
—
Operating Profit
624,797
570,098
646,843
572,700
Interest Expense
(2,893)
(2,828)
(5,191)
(9,897)
Non-Operating Income
19,296
22,013
(32,850)
2,921
Total Non-Operating Income
16,403
19,185
(38,041)
(6,976)
Income Before Provision for Income Taxes
641,200
589,283
608,802
565,724
Provision for Income Taxes
119,361
103,199
102,291
105,079
Consolidated Net Income
521,839
486,084
506,511
460,645
Net Income Attributable to Common Shareholders
521,839
486,084
506,511
460,645
Basic EPS
3.14
2.88
3.01
2.73
Diluted EPS
3.08
2.82
2.94
2.66
Basic Weighted Average Shares Outstanding
166,381
168,884
168,442
168,952
Diluted Weighted Average Shares Outstanding
169,219
172,405
172,199
172,893
Shares Outstanding
165,150
169,394
167,946
167,702
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
624,083
675,336
537,951
339,196
Total Cash and Cash Equivalents
624,083
675,336
537,951
339,196
Accounts Receivable
393,753
362,533
354,439
346,010
Total Trade Receivables
393,753
362,533
354,439
346,010
Inventories
401,138
404,676
438,349
476,790
Other Current Assets
52,907
54,896
35,070
43,624
Total Current Assets
1,471,880
1,497,440
1,365,810
1,205,620
Net Property, Plant & Equipment
781,137
791,334
760,481
637,394
Net Intangible Assets
303,851
233,306
126,258
137,507
Goodwill
585,304
487,468
370,228
368,171
Other Long-Term Assets
132,097
129,663
99,231
90,208
Total Assets
3,274,270
3,139,210
2,722,010
2,438,900
Accounts Payable
78,573
60,816
72,214
84,218
Accrued Expenses
73,420
58,169
64,802
63,969
Short-Term Debt
23,072
28,537
30,036
20,974
Current Portion of Long-Term Debt
1,624
—
—
—
Other Current Liabilities
290,572
258,286
228,148
230,756
Total Current Liabilities
467,261
405,808
395,200
399,917
Long-Term Debt
—
—
—
75,000
Leases
18,131
12,278
11,785
21,057
Other Long-Term Liabilities
134,947
136,991
90,797
83,274
Total Long-Term Liabilities
153,078
149,269
102,582
179,331
Total Liabilities
620,339
555,077
497,782
579,248
Common Stock
165,150
169,394
167,946
167,702
Additional Paid-in Capital
994,566
955,051
863,336
784,477
Accumulated Other Comprehensive Income
37,505
(49,574)
(34,995)
(69,378)
Retained Earnings
1,456,710
1,509,260
1,227,940
976,851
Total Common Shareholders' Equity
2,653,930
2,584,140
2,224,230
1,859,650
Total Shareholders' Equity
2,653,930
2,584,140
2,224,230
1,859,650
Total Liabilities and Shareholders' Equity
3,274,270
3,139,210
2,722,010
2,438,900
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
521,839
486,084
506,511
460,645
Depreciation & Amortization
107,433
86,749
74,321
65,997
Share-Based Compensation Expense
34,333
31,892
30,229
24,695
Other Adjustments
(27,471)
4,844
32,827
(9,997)
Changes in Trade Receivables
(7,383)
10,251
(3,245)
(29,944)
Changes in Inventories
55,206
55,836
42,716
(95,691)
Changes in Accounts Payable
7,712
(13,298)
(12,348)
4,195
Changes in Accrued Expenses
(5,418)
(37,600)
(21,088)
(41,307)
Changes in Other Operating Activities
(2,660)
(3,058)
1,094
(1,199)
Cash from Operating Activities
683,591
621,700
651,017
377,394
Capital Expenditure
(45,669)
(106,737)
(184,775)
(201,161)
Proceeds from Sale of Property, Plant & Equipment
11,182
5,630
—
—
Payments for Business Acquisitions
(135,262)
(241,767)
—
(25,296)
Other Investing Activities
(3,047)
59
(499)
(362)
Cash from Investing Activities
(172,796)
(342,815)
(185,274)
(226,819)
Issuance of Short-Term Debt
(6,588)
(766)
9,725
(18,252)
Net Issuance / (Repayments) of Short-Term Debt
(6,588)
(766)
9,725
(18,252)
Repayments of Long-Term Debt
25
—
(75,000)
(75,000)
Net Issuance / (Repayments) of Long-Term Debt
25
—
(75,000)
(75,000)
Issuance of Common Shares
43,023
70,659
60,182
35,619
Repurchases of Common Shares
(429,163)
(35,961)
(103,569)
(234,645)
Net Issuance / (Repurchases) of Common Shares
(386,140)
34,698
(43,387)
(199,026)
Common Share Dividends Paid
(183,352)
(172,088)
(158,323)
(142,125)
Other Financing Activities
—
(1,707)
(1,025)
—
Cash from Financing Activities
(576,055)
(139,863)
(268,010)
(434,403)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
14,007
(1,637)
1,022
(1,278)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash