olivLaw · US equity research
Global Industrial Company GIC
Wholesale-Industrial Machinery & Equipment · SIC 5084 · Vertical: Wholesale — durable goods (SIC 508x)
Global Industrial Company distributes industrial equipment and MRO supplies in North America through e-commerce sites and relationship marketers. Net sales in fiscal 2025 reached 1379.1 million USD, and growth continued into the second quarter of 2026 with a 7.7% increase.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Global Industrial Company (GIC) stock was 47.57 USD (+7.80% on the day), with market capitalisation 1.8 bn USD, P/E 19.8 on diluted EPS of 2.40 USD over the last 12 months, dividend yield 2.31%, beta 0.69, 52-week range 26.65–47.57 USD. Latest reported quarter (Q3 2026): revenue of 389.5 m USD (+10.2% YoY), net income of 24.6 m USD (+30.9% YoY), diluted EPS 0.64 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 75.1
- overbought (≥ 70)
- Bollinger (20, 2)
- 42.28 – 46.13
- above the upper band · %B 1.37 · band width 8.7%
- SMA 50 / 200
- 42.11 / 35.19
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.84 / 0.82
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +9.2% | −1.1% | +10.3 pp | — |
| 3 months | +22.8% | −0.5% | +23.2 pp | — |
| 6 months | +59.9% | +4.4% | +55.5 pp | — |
| Year to date | +62.8% | +12.3% | +50.5 pp | — |
| 1 year | +69.9% | +13.5% | +56.3 pp | +26.2% |
| 3 years | +37.4% | +76.4% | −39.0 pp | +28.3% |
| 5 years | +12.8% | +63.7% | −50.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 302.3 m | 321.0 m | 358.9 m | 353.6 m | 345.6 m | 350.4 m | 386.6 m | 389.5 m |
| Cost of revenue | 200.0 m | 208.9 m | 225.9 m | 227.6 m | 226.5 m | 228.5 m | 231.2 m | 250.6 m |
| Gross profit | 102.3 m | 112.1 m | 133.0 m | 126.0 m | 119.1 m | 121.9 m | 155.4 m | 138.9 m |
| SG&A | 87.8 m | 93.9 m | 99.5 m | 99.7 m | 99.5 m | 101.3 m | 106.1 m | 106.2 m |
| Operating income | 14.5 m | 18.2 m | 33.5 m | 26.3 m | 19.6 m | 20.6 m | 49.3 m | 32.7 m |
| Depreciation & amortisation | 1.8 m | 1.9 m | 1.9 m ≈ | 2.0 m ≈ | 1.9 m | 1.9 m | 2.0 m ≈ | 2.0 m ≈ |
| Interest expense | -100.0 k | 100.0 k | — | — | — | — | — | — |
| Pre-tax income | 14.1 m | 18.1 m | 33.8 m | 26.1 m | 19.6 m | 20.7 m | 50.3 m | 33.1 m |
| Income tax | 3.5 m | 4.6 m | 8.7 m | 7.3 m | 5.0 m | 5.4 m | 13.2 m | 8.6 m |
| Net income | 10.7 m | 13.6 m | 25.1 m | 18.8 m | 14.6 m | 16.6 m | 37.1 m | 24.6 m |
| Diluted EPS | 0.28 ≈ | 0.35 | 0.65 | 0.48 | 0.38 ≈ | 0.42 | 0.96 | 0.64 |
| Operating cash flow | 15.9 m | 3.4 m | 31.7 m ≈ | 22.7 m ≈ | 20.0 m | 6.4 m | 41.4 m ≈ | 44.3 m ≈ |
| Capex | 700.0 k | 200.0 k | 1.4 m ≈ | 700.0 k ≈ | 800.0 k | 800.0 k | 900.0 k ≈ | 1.0 m ≈ |
| Dividends paid | 9.6 m | 10.1 m | 10.0 m ≈ | 10.1 m ≈ | 10.1 m | 10.8 m | 10.8 m ≈ | 10.7 m ≈ |
| Share repurchases | — | 0 | 0 ≈ | 0 ≈ | 9.1 m | 900.0 k | 4.7 m ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 80 percentile of its own 40-quarter history (min 9.5, median 17.2, max 24.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 896.9 m | 946.9 m | 1.0 bn | 1.1 bn | 1.2 bn | 1.3 bn | 1.3 bn | 1.4 bn |
| Revenue YoY | +13.3% | +5.6% | +8.7% | +3.3% | +9.7% | +9.3% | +3.3% | +4.8% |
| Net income | 224.7 m | 48.5 m | 65.4 m | 103.3 m | 78.8 m | 70.7 m | 61.0 m | 72.1 m |
| Net income YoY | +456.2% | −78.4% | +34.8% | +58.0% | −23.7% | −10.3% | −13.7% | +18.2% |
| Diluted EPS | 5.93 | 1.28 | 1.71 | 2.71 | 2.06 | 1.84 | 1.58 | 1.85 |
| Diluted EPS YoY | +454.2% | −78.4% | +33.6% | +58.5% | −24.0% | −10.7% | −14.1% | +17.1% |
| net % | 25.1% | 5.1% | 6.4% | 9.7% | 6.8% | 5.5% | 4.6% | 5.2% |
| Free cash flow | -26.8 m | 61.5 m | 65.5 m | 46.4 m | 42.8 m | 108.1 m | 46.9 m | 74.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 67.5 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 313.2 m USD
- Total assets
- 580.8 m USD
- Debt / equity
- unavailable
- Current ratio
- 2.22x
- ROE
- 24.3%
- ROA
- 13.1%
- FCF margin
- 5.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.0 bn | 1.1 bn | 1.2 bn | 1.3 bn | 1.3 bn | 1.4 bn | SEC (XBRL)· 27 Feb 2026verified |
| Cost of revenue | 672.1 m | 688.8 m | 744.9 m | 838.5 m | 863.9 m | 888.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Gross profit | 356.9 m | 374.3 m | 421.2 m | 435.8 m | 452.0 m | 490.2 m | SEC (XBRL)· 27 Feb 2026verified |
| SG&A | 272.8 m | 286.3 m | 316.0 m | 339.3 m | 371.5 m | 392.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Operating income | 84.1 m | 88.0 m | 105.2 m | 96.5 m | 80.5 m | 97.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Depreciation & amortisation | 4.1 m | 3.7 m | 3.9 m | 6.4 m | 7.6 m | 7.7 m | SEC (XBRL)· 27 Feb 2026verified |
| EBITDA | 88.2 m ≈ | 91.7 m ≈ | 109.1 m ≈ | 102.9 m ≈ | 88.1 m ≈ | 105.3 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Interest expense | — | — | 1.1 m | 1.1 m | 200.0 k | — | SEC (XBRL)· 26 Feb 2025verified |
| Pre-tax income | 84.0 m | 87.6 m | 103.8 m | 95.2 m | 79.8 m | 97.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | 19.9 m | 17.5 m | 25.7 m | 24.5 m | 19.1 m | 25.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 65.4 m | 103.3 m | 78.8 m | 70.7 m | 61.0 m | 72.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 1.71 | 2.71 | 2.06 | 1.84 | 1.58 | 1.85 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 37.7 m | 38.0 m | 38.1 m | 38.2 m | 38.4 m | 38.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividend per share | 3.56 | 1.64 | 0.72 | 0.80 | 1.00 | 1.04 | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 22.4 m | 15.4 m | 28.5 m | 34.4 m | 44.6 m | 67.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | 102.3 m | 106.8 m | 108.0 m | 130.7 m | 126.5 m | 139.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Inventories | 132.3 m | 172.8 m | 179.4 m | 150.8 m | 167.1 m | 174.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 263.8 m | 301.4 m | 325.7 m | 329.8 m | 352.6 m | 396.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 16.6 m | 16.5 m | 21.0 m | 20.0 m | 19.1 m | 18.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Goodwill | 5.5 m | 5.5 m | 5.5 m | 40.0 m | 39.6 m | 40.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.5 m | 1.3 m | 1.1 m | 28.6 m | 25.4 m | 23.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 374.9 m | 405.0 m | 455.2 m | 513.4 m | 520.7 m | 580.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Accounts payable | 125.4 m | 114.4 m | 96.9 m | 111.0 m | 106.5 m | 108.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Short-term debt | 0 | 4.5 m | 600.0 k | 0 | — | — | SEC (XBRL)· 12 Mar 2024verified |
| Current liabilities | 186.4 m | 179.9 m | 153.1 m | 174.2 m | 168.4 m | 178.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 268.1 m | 251.4 m | 244.8 m | 258.2 m | 239.6 m | 267.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 106.8 m † | 153.6 m † | 210.4 m † | 255.2 m † | 281.1 m † | 313.2 m † | SEC (XBRL)· 27 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 68.2 m | 49.8 m | 50.2 m | 112.0 m | 50.7 m | 77.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 2.7 m | 3.4 m | 7.4 m | 3.9 m | 3.8 m | 3.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | 65.5 m ≈ | 46.4 m ≈ | 42.8 m ≈ | 108.1 m ≈ | 46.9 m ≈ | 74.7 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -2.7 m | -3.4 m | -7.1 m | -76.2 m | -3.8 m | -7.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | -138.8 m | -55.0 m | -29.7 m | -29.7 m | -36.7 m | -47.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividends paid | 134.3 m | 62.5 m | 27.6 m | 30.6 m | 38.4 m | 40.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | 7.2 m | 0 | 0 | 0 | 0 | 9.1 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 65 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.8 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation81
- Balance sheet100
- Quality83
- Growth24
- Returns67
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 13.67 – 69.99 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E63.36 – 69.99 (Mid 66.92)5 companies used · median multiple 27.9x · quartiles 26.4x – 29.2xAIT, DXPE, HDSN, MSM, TLIH
- Dividend discount (DDM)13.67 – 18.38 (Mid 15.68)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 65/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 6.3% | 67 (vs peers) | 10% |
| FCF conversion · Quality | 116.9% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 5.8% | 48 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | -3.5% | 0 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.4x | 100 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 19.8x | 86 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 6.0% | 75 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 3.1% | 45 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 39.0% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth24/100 · 2/2 factors with a value
- Quality83/100 · 2/3 factors with a value
- Returns67/100 · 2/2 factors with a value
- Valuation81/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Global Industrial Co (GIC). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 1.4 bn USD in 2025; YoY growth 4.8%; net margin 6.3%; ROE 27.6%.
The estimated value range is 38.51–44.19 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 41.30 USD, the price of 47.57 USD leaves a potential of -13.2% (value / price − 1) and a margin of safety of -15.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 65/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 116.9%
- Current ratio: 2.4x
- P/E (TTM): 19.8x
- FCF yield: 6.0%
- Payout ratio (FCF): 39.0%
What contradicts it
- EPS CAGR 3Y: -3.5%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Wholesale — durable goods (SIC 508x) · same industry group (3-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AITApplied Industrial Technologies, Inc. | 10.9 bn | 26.4 | 22.5% | 8.4% | +8.8% | +15% / +86% |
| MSMMsc Industrial Direct Co., Inc. | 6.5 bn | 29.2 | 15.8% | 5.6% | +6.4% | +30% / +19% |
| DXPEDXP Enterprises, Inc. | 2.5 bn | 27.9 | 18.5% | 4.4% | +11.9% | +69% / +441% |
| GICGlobal Industrial Co | 1.8 bn | 19.8 | 27.6% | 6.3% | +4.8% | +70% / +37% |
| DSGRDistribution Solutions Group, Inc. | 1.6 bn | 180.0 | 1.4% | 0.4% | +9.8% | +26% / +38% |
| WLFCWillis Lease Finance Corp | 1.0 bn | 12.7 | 11.5% | 9.6% | +28.3% | +16% / +213% |
| ASLEAerSale Corporation | 237.2 m | — | -0.9% | -1.2% | −2.8% | −23% / −64% |
| ALTGAlta Equipment Group Inc. | 225.1 m | — | -2,085.7% | -4.4% | −2.2% | +41% / −28% |
| HDSNHudson Technologies Inc | 185.6 m | 21.4 | 3.6% | 3.5% | +4.0% | −35% / −64% |
| TLIHTen-League International Holdings Limited | 167.1 m | 37.9 | 49.6% | 7.3% | +38.4% | +59% / unavailable |
1- and 3-year price returns: for GIC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 28.85 Total return -37% · Per year -37% | 50.97 Total return 10% · Per year 10% | 76.74 Total return 64% · Per year 64% |
| 3 years | 28.71 Total return -34% · Per year -13% | 57.00 Total return 28% · Per year 8% | 94.12 Total return 108% · Per year 28% |
| 5 years | 28.57 Total return -31% · Per year -7% | 63.75 Total return 48% · Per year 8% | 115.45 Total return 161% · Per year 21% |
- Exit P/E± 14.25
- Net margin± 9.98
- Annual revenue growth± 8.09
- Annual dilution± 0.84
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
In brief
Global Industrial Company distributes industrial equipment and MRO supplies in North America through e-commerce sites and relationship marketers. Net sales in fiscal 2025 reached 1379.1 million USD, and growth continued into the second quarter of 2026 with a 7.7% increase 13.
SWOT
Strengths
- The company has a broad assortment, private brands with better margins, an established e-commerce network and vertical sales teams, all described in its annual report 1.
- Liquidity is solid, with operating cash flow growth and available credit facility capacity, according to its quarterly disclosures 23.
- Gross margins improved over recent years, and management describes organic growth and share gains as its goals 13.
Weaknesses
- Reliance on products imported from China and Asian suppliers exposes the company to tariffs and supply disruptions 1.
- Gross margin reported in the second quarter of 2026 was lifted by a one-time benefit, which makes the underlying trend harder to judge 3.
- Sales are seasonal and shipping costs can vary sharply from quarter to quarter 1.
Opportunities
Risks
- Tariffs and trade policyhigh
Changes in tariffs on goods from China, Mexico and Canada could materially affect procurement costs and margins, depending on government decisions 12.
- Dependence on Asian suppliershigh
Factory shutdowns or export restrictions in Asia could delay orders and lead to lost sales 12.
- Freight costsmedium
Higher carrier rates or fuel costs could compress margins if they cannot be passed on to customers 12.
- Slowdown in North American industrymedium
Lower investment by industrial, construction and public sector customers could reduce volumes and pricing 1.
- Cyber and systems risklow
Outages of e-commerce sites or a data security breach could disrupt operations and damage the company's reputation 2.
Investment thesis
What would need to be true (bull case)
- Sales growth continued into the second quarter of 2026, with management reporting gains in both volume and price, which could support the medium-term trend 3.
- Margins have improved in recent years, and private brands offer a margin advantage that could remain useful if the market stays competitive 13.
- Wider adoption of electronic ordering by customers could create more recurring revenue and steadier customer relationships 1.
What would break the thesis
- The tariff refund lifted second-quarter 2026 margins, and without it the underlying results could look more modest 3.
- Dependence on Chinese imports and new trade measures could compress margins in coming periods 12.
- Competition from large distributors and online platforms could force price cuts and share losses 1.
What to watch
- Gross margin excluding the tariff refund and the trend in import costsQ3 2026
- Average daily sales growth and revenue trends in the U.S. and CanadaQ3 2026
- New tariff measures and any changes to trade arrangements with China2027
- Annual results and guidance for the next fiscal year in the 10-Knext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
The business
The company, through its operating subsidiaries, is a value-added distributor of industrial equipment and supplies in North America, going to market through a system of branded e-commerce websites and relationship marketers 1. Its customers are mainly businesses, educational institutions and government entities, and its 'We Can Supply That®' promise underpins a strategy of fast product availability 1. The Indoff acquisition in May 2023 expanded its MRO presence in North America, and in April 2025 it bought an equipment service provider to broaden value-added offerings 1.
Over 60% of core U.S. transactions were electronic orders in fiscal 2025, and the company keeps investing in e-procurement tools such as EDI and punch-out 1. Sales rely on stock in five primary U.S. distribution centres, one large Canadian facility and drop-ship from vendors, and private brand products are designed to offer higher margins than national brands 1.
Seasonality affects sales, with HVAC, snow removal and outdoor furniture highly seasonal and the second and third quarters moderately stronger in sales and operating margin 1. Parcel shipping costs often rise in the fourth quarter and early first quarter because of carrier peak-season charges 1.
Segments
Industrial and MRO products
The main segment covers MRO products and industrial equipment, from storage and safety to HVAC, tools and electrical, sold to customers in manufacturing, construction, education and the public sector 1. Private brands Global, Nexel, Paramount, Interion and Absocold are manufactured by third parties to the company's specifications 1.
Market context
The North American market for industrial products is highly fragmented, with multiple channels from small dealers and direct mail to large retailers and warehouse stores 1. Buyers decide mainly on price, selection, availability, service and access to open account terms 1.
The sector is consolidating as customers weigh total fulfilment cost and consistent multi-location supply, and larger competitors with lower cost models could compete more aggressively on price 12.
Trends
- Import tariffsmixed
Tariffs on goods imported from China and elsewhere have raised procurement costs and led the company to raise prices and seek alternative sources, and these effects could ease if the supply chain is managed well 12. Refunds of IEEPA tariffs gave a one-time benefit in the second quarter of 2026 3.
- E-commerce and B2B buyingtailwind
Customers are moving toward electronic orders, EDI and procurement portals, and the company is expanding personalisation and subscription purchasing on its websites 1. If this shift continues, it could support volume growth and share gains 3.
- Freight and logistics costsheadwind
Rising freight costs, including fuel and accessorial charges, could compress margins if they cannot be passed on to customers, as has happened before 12.
- Tight labour marketheadwind
The tight U.S. labour market makes it harder to recruit and retain staff in distribution centres, which could raise personnel costs 1.
Competitive position
Major competitors named include large MRO distributors such as Uline, Grainger, MSC Industrial Direct and Fastenal, plus large retailers such as Amazon, and manufacturers' own sales representatives also compete 1.
The company's stated advantages are a broad assortment, hard-to-find products, private brands with attractive price points and close account coverage of small and mid-sized customers through vertical sales teams 1.
- GraingerGWW
Large MRO distributor named as a direct competitor in the company's filings.
- MSC Industrial DirectMSM
Industrial and MRO distributor competing for the same industrial customers.
- FastenalFAST
Industrial distributor with an extensive network, named as a competitor in the filings.
- Uline
Storage and packaging supplies distributor named as a competitor, with no public listing referenced in the sources.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Premier Li calls on cooperation in global industrial and supply chainsCGTN — World · 14 Oct 2026 · EN
- Is Linde (LIN) Set to Benefit From a Global Industrial Recovery?Yahoo Finance — News · 24 Aug 2026 · EN
The latest news item in our archive is from 14 Oct 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report07 Jul 2026Material agreement · Creation of a direct financial obligation
- Current report03 Jun 2026Shareholder vote
- Quarterly report05 May 2026
- Current report05 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement22 Apr 2026
- Annual report27 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Global Industrial Company · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Global Industrial Company · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Global Industrial Company · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.