GRACO INC
For the period ended Dec 26, 2025. Filed Feb 17, 2026.
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FY2025 · Filed Feb 17, 2026
GGG$69.70-0.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended | |||
|---|---|---|---|
| December 26,2025 | December 27,2024 | December 29,2023 | |
| Cash Flows From Operating Activities | |||
| Net Earnings | $521,839 | $486,084 | $506,511 |
| Adjustments to reconcile net earnings to net cashprovided by operating activities | |||
| Depreciation and amortization | 107,433 | 86,749 | 74,321 |
| Deferred income taxes | (8,673) | 6,060 | (8,502) |
| Share-based compensation | 34,333 | 31,892 | 30,229 |
| Gain on sale of building | (4,737) | (1,216) | — |
| Pension settlement loss | — | — | 42,129 |
| Contingent consideration | (14,061) | — | (8,600) |
| Impairment | — | — | 7,800 |
| Change in | |||
| Accounts receivable | (7,383) | 10,251 | (3,245) |
| Inventories | 55,206 | 55,836 | 42,716 |
| Trade accounts payable | 7,712 | (13,298) | (12,348) |
| Salaries and incentives | 6,632 | (12,187) | (2,158) |
| Retirement benefits and deferred compensation | (571) | (14,171) | (13,661) |
| Other accrued liabilities | (11,479) | (11,242) | (5,269) |
| Other | (2,660) | (3,058) | 1,094 |
| Net cash provided by operating activities | 683,591 | 621,700 | 651,017 |
| Cash Flows From Investing Activities | |||
| Property, plant and equipment additions | (45,669) | (106,737) | (184,775) |
| Proceeds from sale of building | 11,182 | 5,630 | — |
| Acquisition of businesses, net of cash acquired | (135,262) | (241,767) | — |
| Other | (3,047) | 59 | (499) |
| Net cash used in investing activities | (172,796) | (342,815) | (185,274) |
| Cash Flows From Financing Activities | |||
| (Payments) borrowings on short-term lines of credit, net | (6,588) | (766) | 9,725 |
| Borrowings (payments) on long-term debt and lines of credit | 25 | — | (75,000) |
| Payments of debt issuance costs | — | (1,707) | (1,025) |
| Common stock issued | 43,023 | 70,659 | 60,182 |
| Common stock repurchased | (423,108) | (31,350) | (102,344) |
| Taxes paid related to net share settlement of equity awards | (6,055) | (4,611) | (1,225) |
| Cash dividends paid | (183,352) | (172,088) | (158,323) |
| Net cash used in financing activities | (576,055) | (139,863) | (268,010) |
| Effect of exchange rate changes on cash | 14,007 | (1,637) | 1,022 |
| Net (decrease) increase in cash and cash equivalents | (51,253) | 137,385 | 198,755 |
| Cash and Cash Equivalents | |||
| Beginning of year | 675,336 | 537,951 | 339,196 |
| End of year | $624,083 | $675,336 | $537,951 |
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
| CommonStock | AdditionalPaid-InCapital | RetainedEarnings | AccumulatedOther ComprehensiveIncome (Loss) | Total | |
|---|---|---|---|---|---|
| Balance December 30, 2022 | $167,702 | $784,477 | $976,851 | $(69,378) | $1,859,652 |
| Shares issued | 1,666 | 57,291 | — | — | 58,957 |
| Shares repurchased | (1,422) | (6,650) | (94,272) | — | (102,344) |
| Stock compensation cost | — | 28,218 | — | — | 28,218 |
| Net earnings | — | — | 506,511 | — | 506,511 |
| Dividends declared ($0.960 per share) | — | — | (161,152) | — | (161,152) |
| Other comprehensive income | — | — | — | 34,383 | 34,383 |
| Balance December 29, 2023 | 167,946 | 863,336 | 1,227,938 | (34,995) | 2,224,225 |
| Shares issued | 1,847 | 64,201 | — | — | 66,048 |
| Shares repurchased | (399) | (2,049) | (28,902) | — | (31,350) |
| Stock compensation cost | — | 29,563 | — | — | 29,563 |
| Net earnings | — | — | 486,084 | — | 486,084 |
| Dividends declared ($1.040 per share) | — | — | (175,856) | — | (175,856) |
| Other comprehensive loss | — | — | — | (14,579) | (14,579) |
| Balance December 27, 2024 | 169,394 | 955,051 | 1,509,264 | (49,574) | 2,584,135 |
| Shares issued | 911 | 36,781 | — | — | 37,692 |
| Shares repurchased | (5,155) | (29,059) | (388,894) | — | (423,108) |
| Stock compensation cost | — | 32,517 | — | — | 32,517 |
| Restricted stock issued | — | (724) | — | — | (724) |
| Net earnings | — | — | 521,839 | — | 521,839 |
| Dividends declared ($1.120 per share) | — | — | (185,499) | — | (185,499) |
| Other comprehensive income | — | — | — | 87,079 | 87,079 |
| Balance December 26, 2025 | $165,150 | $994,566 | $1,456,710 | $37,505 | $2,653,931 |
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