Global Industrial

GIC

Industrial - Distribution · Industrials

Price

$34.45

-0.53 (-1.52%)

Market Cap

$1.32B

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+1.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 38.0M (2021) → 38.4M (2025)

Global Industrial Company sells tools, equipment, and workplace supplies to businesses across North America. Its catalog includes things like storage racks, safety gear, janitorial supplies, and material handling equipment — basically everything a factory, warehouse, or office needs to operate day-to-day. The company sells primarily to small and mid-sized businesses rather than giant corporations.

Global Industrial makes money by selling products directly to customers through its website and catalogs, earning a margin on each sale. It operates mainly in the United States and Canada, with a catalog of roughly 1.5 million products, which makes it a one-stop shop that is hard for smaller distributors to match. The main growth driver is winning more business from existing customers and expanding its private-label product line, which carries higher margins — but the main risk is competition from much larger distributors like Grainger and Amazon Business, which have significantly more resources and pricing power.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+20.0% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

79.6%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$62M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Global Industrial is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

34.8%

Modest — 34.8% gross margin

Operating Margin

5.9%

Thin — 5.9% operating margin

ROCE

6.4%

Weak — 6.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+7.2%

Steady sales growth (7.2% YoY)

EPS YoY

+21.4%

Earnings growing fast (21.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

108%

Turns 108% of profit into real cash

FCF Margin

5.5%

Thin free cash flow (5.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

166.67x

Comfortably covers interest (166.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

17.8x

Fair value — P/E 17.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+0.4

GROWING

Earnings roughly flat

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Dividends

Dividend Yield

3.25%

Moderate income — 3.25% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+5.9%

Dividend growing modestly (5.9% YoY)

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