Grainger Cash Flow Statement

Financials in millions GBP. Fiscal year is October - September.

Millions GBP. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	131.4	202.6	31.2	25.6	229.4	109.5
Depreciation & Amortization	1.5	1.5	1.5	1.1	0.9	0.9
Other Amortization	0.2	0.2	-	-	-	0.3
Gain (Loss) on Sale of Assets	2.2	1.6	5.8	-3.3	-1.7	-1.5
Asset Writedown	43.5	-29.5	32.5	68.9	-210.2	-76.8
Stock-Based Compensation	3.7	3.6	2.8	2.4	1.7	1.7
Income (Loss) on Equity Investments	4.9	3.7	0.6	0.4	0.5	-0.5
Change in Accounts Receivable	-3.1	6.2	-3.8	6.5	-1.9	-6.9
Change in Accounts Payable	6.9	12.9	6.9	37	8.5	48
Change in Other Net Operating Assets	-	-	-	-	8.4	-0.2
Other Operating Activities	-118	-113.4	-1.5	-15.5	41.6	11.3
Operating Cash Flow	91.7	122.4	136.6	184.7	102	148
Operating Cash Flow Growth	-44.46%	-10.39%	-26.04%	81.08%	-31.08%	82.49%
Acquisition of Real Estate Assets	-141.4	-149.8	-265.3	-308.1	-292.9	-362.6
Sale of Real Estate Assets	31.1	85.9	90.2	63.5	20.9	40.3
Net Sale / Acq. of Real Estate Assets	-110.3	-63.9	-175.1	-244.6	-272	-322.3
Investment in Marketable & Equity Securities	1.8	6.2	8.3	-27.3	2.2	8
Other Investing Activities	0.3	-1.4	-0.9	-2.2	-4.4	-1.6
Investing Cash Flow	-108.2	-59.1	-167.7	-274.1	-274.2	-315.9
Long-Term Debt Issued	-	186	244	330	14.2	30
Long-Term Debt Repaid	-	-191.2	-185	-155	-0.9	-77
Net Debt Issued (Repaid)	80.8	-5.2	59	175	13.3	-47
Issuance of Common Stock	-	-	0.1	0.3	0.3	204.3
Repurchase of Common Stock	-	-0.1	-0.1	-7.9	-3.3	-0.3
Common Dividends Paid	-61.5	-58.1	-51	-45.7	-40	-36.8
Other Financing Activities	-11.8	-7.3	-4.7	-7.2	-19.8	-3.8
Net Cash Flow	-9	-7.4	-27.8	25.1	-221.7	-51.5
Cash Interest Paid	52.2	53.3	52.6	46.9	42	45.6
Cash Income Tax Paid	0.6	11.4	12.5	-2.7	12.3	16.9
Levered Free Cash Flow	-76.98	72.93	26.26	160.23	203.96	136.03
Unlevered Free Cash Flow	-51.29	98.68	50.2	179.48	223.4	155.78
Change in Working Capital	22.3	52.1	63.7	105.1	39.8	103.1

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.