Munger Mode rating: 3 out of 5 — Hold. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
We have always said the best business to own is one that takes a mundane task and does it so reliably, at such scale, that customers stop thinking about alternatives. Grainger sells safety gloves, motors, fasteners, and janitorial supplies — about as unglamorous as commerce gets — and earns a return on invested capital near 40% doing it. That is not an accident. It is the product of a century of accumulated distribution density, customer integration, and a management team that made the single hardest decision in retailing — cutting its own prices in 2017 — and was rewarded for it. This is a wonderful business run by rational, honest people. Our quarrel is only with the price.
Recent filings analysed: 8-K (2026-08-04), 10-Q (2026-08-04), 8-K (2026-08-03), 8-K (2026-05-08).
Stock screener · Superinvestor 13F holdings · Analyst sentiment · Market valuation