Global Industrial Co
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
The company is good, the price is not cheap, and the decisive question can be answered in a few months rather than guessed today: the next Form 10-Q shows both on one page — gross margin (last at 34.8 percent against 35.5 percent for full-year 2025) and the sentence in "Controls and Procedures" on whether the controls at Indoff are finally reported as remediated. Waiting costs little at a roughly three percent dividend yield and buys clarity on whether 2025 earnings power is the new base or was a wave. If you already own it, those two numbers give you a checkpoint instead of a gut feel. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Global Industrial is a solid, boring distribution business — and that is precisely what makes it dangerous to skip the three decisive chapters of the annual report. The record 2025 (gross margin 35.5 percent, operating income up 21.2 percent to $97.6 million) carries a timing benefit from pre-tariff inventory the company names itself and whose decline it reported as early as the third quarter of 2025; by the first quarter of 2026 margin was back to 34.8 percent. Since December 31, 2023 management has declared its own disclosure controls ineffective — ten consecutive quarters, most recently over the subsidiary acquired in 2023. And above it all sit three brothers with roughly 64.9 percent of the votes in a stock the filing describes as "thinly traded". Not investment advice.
Business model & substance
A proven distributor of industrial supplies with $1,379.1 million of 2025 revenue, roughly 24 percent return on equity and only $3.1 million of capital expenditure — a model that ties up little capital. The balance sheet is solid: $67.5 million cash and $313.2 million equity and no financial debt — the $103.6 million on the balance sheet are operating lease liabilities (December 31, 2025).
Earnings quality
The strong 2025 (gross margin 35.5 percent, operating income up 21.2 percent) carries a timing effect the company names itself: the benefit from pre-tariff inventory. Quarterly margin fell from 37.1 percent (Q2 2025) to 34.8 percent (Q1 2026) — roughly $8 million of gross profit per quarter. On top of that, a third of the 2025 revenue growth was the 53rd week.
Internal controls
Since December 31, 2023 management has reported ineffective disclosure controls in every filing — ten consecutive quarters through March 31, 2026, most recently over IT general controls at Indoff, acquired in 2023 for $72.6 million (13 percent of 2025 revenue). No misstatements were identified per the filing and the core business was remediated — the acquired subsidiary was not, after more than two years.
Governance & tradability
The three Leeds brothers control roughly 64.9 percent of voting power together with family trusts; as a controlled company Global Industrial expressly relies on the NYSE exemption from independent board majority and reserves the right to take further exemptions. Only about 12.9 million of 38.3 million shares sit in free float; the filing calls the stock "thinly traded" itself.
Valuation & dividend
A market capitalization near $1.32 billion implies a price-to-earnings ratio around 18, price-to-sales of 0.94 and roughly 12.7 times operating earnings before depreciation and amortization (as of July 24, 2026) — not an absurd price for the quality, but no margin of safety either, particularly since earnings include the pre-tariff effect. The dividend, raised to roughly $43 million, was comfortably covered in 2025 ($74.6 million free cash flow) and far less so in 2024 ($46.9 million).
Worth Noting
Global Industrial reached our research list through the in-house Reddit hype scanner (as of July 24, 2026) — unusual for a stock with no growth promise that the annual report itself calls "thinly traded". Conventional valuation metrics do apply here, but they rest on earnings that include the pre-tariff effect.
Easily confused: the company was named Systemax Inc. until 2021 and Global DirectMail Corp before that (CIK 0000945114) — older sources list it under those names and sometimes still with the long-wound-down technology mail-order business. On the NYSE the ticker GIC stands solely for Global Industrial Company.
As-of dates and method: annual figures as of December 31, 2025 from the Form 10-K, quarterly figures as of March 31, 2026 from the Form 10-Q, valuation and free float as of July 24, 2026. Quarterly margins were reconciled against the filings: the four 2025 quarterly revenues sum to $1,379.1 million and the weighted gross margin to 35.5 percent — both matching the annual report. Analyses are evergreen; daily prices are not a reason to buy.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at GIC since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 26.70 $ to 40.40 $ · Last price: 40.40 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Industrial Distribution
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Global Industrial Co GIC | 1.5 | 21.8 | 12.3 | 34.9 | – | 4.8 | 14.7 |
| WW Grainger Inc GWW | 59.6 | 33.7 | 20.6 | 39.4 | 16.7 | 4.5 | 27.6 |
| Fastenal Company FAST | 56.8 | 44.0 | 29.1 | 44.7 | 20.3 | 8.7 | 6.0 |
| Ferguson Plc FERG | 41.6 | 21.1 | 15.7 | 30.6 | 8.1 | 3.8 | -5.7 |
| WESCO International Inc WCC | 16.5 | 23.2 | 14.1 | 21.4 | 5.1 | 7.8 | 59.4 |
| Watsco Inc WSO | 13.0 | 25.3 | 18.4 | 27.5 | 6.9 | -5.0 | -18.6 |
| Watsco Inc WSO-B | 12.9 | 26.8 | 18.7 | 27.5 | 10.9 | -5.0 | -19.8 |
| QXO, Inc. QXO | 12.0 | – | 40.7 | 24.5 | -11.8 | 11,930.7 | -44.4 |
| Applied Industrial Technologies AIT | 12.0 | 29.7 | 18.9 | 30.3 | 11.0 | 1.9 | 23.0 |
| Median of companies shown | 13.0 | 26.0 | 18.7 | 30.3 | 9.5 | 4.5 | 6.0 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1,680 | 4 | -33 | -0.88 | -57 | 214 | 566 |
| 2017 | 1,265 | 71 | 40 | 1.07 | 46 | 212 | 551 |
| 2018 | 897 | 62 | 225 | 5.93 | -22 | 138 | 530 |
| 2019 | 947 | 66 | 49 | 1.29 | 68 | 176 | 397 |
| 2020 | 1,029 | 84 | 65 | 1.73 | 68 | 107 | 375 |
| 2021 | 1,063 | 88 | 103 | 2.72 | 50 | 154 | 405 |
| 2022 | 1,166 | 105 | 79 | 2.07 | 50 | 210 | 455 |
| 2023 | 1,274 | 97 | 71 | 1.85 | 112 | 255 | 513 |
| 2024 | 1,316 | 81 | 61 | 1.59 | 51 | 281 | 521 |
| 2025 | 1,379 | 98 | 72 | 1.88 | 78 | 313 | 581 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.28 | -30.20 | 302 | -5.60 | 3.50 | 16 | 15 |
| 2025: Q1 | 0.35 | 3.00 | 321 | -0.70 | 4.20 | 3 | 3 |
| 2025: Q2 | 0.65 | 23.60 | 359 | 3.20 | 7.00 | 32 | 30 |
| 2025: Q3 | 0.49 | 11.60 | 354 | 3.30 | 5.30 | 23 | 22 |
| 2025: Q4 | 0.38 | 36.40 | 346 | 14.30 | 4.20 | 20 | 19 |
| 2026: Q1 | 0.43 | 22.40 | 350 | 9.20 | 4.70 | 6 | 6 |
| 2026: Q2 | 0.96 | 47.70 | 387 | 7.70 | 9.60 | 41 | 41 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 11 of our scanner strategies — each hit links to the scanner.
Growth
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 2.31 | 2.30 – 2.31 | 1,473 | 24.6% | 2 |
| 12/31/2027 | 2.21 | 2.06 – 2.35 | 1,548 | -4.3% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 6.1% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $87.3M |
|---|---|
| Market cap | $1.55B |
| Free cash flow in year ten | $157.5M |
| Terminal value as a share of market value | 53.6% |
For comparison: over the past five years free cash flow grew by 2.6% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Der einzige belegte KI-Bezug in den ausgewerteten Berichten ist der Kundendienst: rund um die Uhr Chat, bedient von KI-Chatbots und eigenen Mitarbeitenden — operativer Einsatz, keine KI-Umsatzquelle und kein benanntes KI-Risiko.
View the full file — quotes, sources, reviewed filings
„…led us to add additional improvements to the experience including offering 24 hour, seven days a week chat supported by both AI chatbots and live chats with our associates."
… veranlasste uns, weitere Verbesserungen des Kundenerlebnisses vorzunehmen, darunter das Angebot eines Chats rund um die Uhr an sieben Tagen pro Woche, der sowohl von KI-Chatbots als auch von Live-Chats mit unseren Mitarbeitenden getragen wird.
10-K · 2026-02-27 · View SEC filing
„…offering 24 hour, seven days a week chat supported by both AI chatbots and live chats with our associates. As part of a culture of continuous improvement, our Customer Experience team is focusing on the idea of „Make It Right“…"
… das Angebot eines Chats rund um die Uhr an sieben Tagen pro Woche, der sowohl von KI-Chatbots als auch von Live-Chats mit unseren Mitarbeitenden getragen wird. Als Teil einer Kultur der ständigen Verbesserung konzentriert sich unser Team für Kundenerlebnis auf den Gedanken „Make It Right“ …
10-K · 2025-02-26 · View SEC filing
Filings Reviewed: 10-K 2026-02-27 · 10-K 2025-02-26 · 10-Q 2026-05-05 · 10-Q 2025-10-28 · 10-Q 2025-07-29 · 10-Q 2025-04-30
Rated on July 24, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 5.8%
- More than 10% revenue growth is expected for the coming year 4.7%
- Share count grows by less than 3% a year 0.3%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 10.2%
- Gross margin at 40% or higher and without meaningful erosion 35.5%
- Goodwill from acquisitions does not grow faster than revenue 7.0%
- Net debt below twice EBITDA 0.3 x EBITDA
- Operating cash flow covers the profits of the last three years 37 m
- Return on capital at 15% or higher, or up versus two years ago 24.3%
- Insiders hold at least 10% or are net buyers 51.7%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
9/10 Quality stockThe AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -2.2%
- Exp. sales growth 3Y > 5% 5.9%
- EBIT growth 10Y > 5% 42.2%
- Exp. EBIT growth 3Y > 5% 8.4%
- Net debt < 4x EBIT 0.4x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 23.5%
- Return on equity > 15% 29.0%
- ROCE > 15% 24.3%
- Expected return > 10% 13.6%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 3, 2027 | Axmacher Thomas | VP & Controller | Other | 250 | 37.33 | 9,333 |
| Sep 3, 2026 | Clark Thomas Eugene | SVP & Chief Financial Officer | Other | 334 | 37.33 | 12,468 |
| Sep 3, 2026 | Tomey Alex | SVP & Chief Merchandising Ofc. | Other | 376 | 33.20 | 12,483 |
| Aug 28, 2026 | Hughes Claudia | SVP & Chief Sales Officer | Sell | 2,923 | 39.64 | 115,878 |
| Aug 28, 2026 | Hughes Claudia | SVP & Chief Sales Officer | Sell | 1,830 | 40.00 | 73,200 |
| Aug 27, 2026 | Tomey Alex | SVP & Chief Merchandising Ofc. | Other | 3,362 | 39.62 | 133,202 |
| Aug 27, 2026 | Adina Storch | SVP & General Counsel | Other | 3,729 | 39.62 | 147,743 |
| Aug 27, 2026 | Shetty Manoj | SVP & Chief Information Ofc. | Other | 4,002 | 39.62 | 158,559 |
| Aug 27, 2026 | Hughes Claudia | SVP & Chief Sales Officer | Sell | 1,734 | 38.22 | 66,273 |
| Aug 27, 2026 | Hughes Claudia | SVP & Chief Sales Officer | Other | 2,596 | 39.62 | 102,854 |
The company
About the Company
Global Industrial Company ist über seine Tochtergesellschaften ein Industriedistributor verschiedener Industrie- und Wartungs-, Reparatur- und Betriebsprodukte (MRO) in den USA und Kanada. Es bietet Lager- und Regalprodukte, Sicherheits- und Schutzprodukte, Wagen und Karren, HVAC und…
- Employees
- 1,980
- Headquarters
- Port Washington, NY
- Address
- 11 Harbor Park Drive, 11050 Port Washington, United States
- Phone
- 516 608 7000
- Website
- globalindustrial.com
- IPO Date
- 06/26/1995
- ISIN
- US37892E1029
Management
| Name | Title | Birth Year |
|---|---|---|
| Richard B. Leeds | Executive Chairman | 1960 |
| Anesa T. Chaibi | CEO & Director | 1966 |
| Thomas Eugene Clark | Senior VP & CFO | 1982 |
| Manoj Shetty | Senior VP & Chief Information Officer | 1961 |
| Adina G. Storch Esq. | Senior VP, General Counsel & Corporate Secretary | 1972 |
| Claudia Hughes | Senior VP & Chief Sales Officer | 1969 |
| Bruce Leeds | Vice Chairman | 1956 |
| Robert Leeds | Vice Chairman | 1956 |
| Lisa Goldson Armstrong | Senior VP & Chief Marketing Officer | 1970 |
| Norman Kough | Executive Vice President of Netherlands & Sweden | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/04/2026 GLOBAL INDUSTRIAL Co (GIC): Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 07/07/2026 GLOBAL INDUSTRIAL Co (GIC): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.