| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $23.57B | $23.10B | $23.05B | $22.15B | $19.94B | $18.36B | $17.90B | $17.53B |
| Cost of Revenue | $12.04B | $11.90B | $12.29B | $12.82B | $11.40B | $9.68B | $9.86B | $10.12B |
| Gross Profit | $11.54B | $11.20B | $10.76B | $9.33B | $8.54B | $8.68B | $8.04B | $7.42B |
| Gross Margin | 48.94% | 48.47% | 46.67% | 42.10% | 42.83% | 47.29% | 44.89% | 42.31% |
| Operating Expenses | $7.73B | $7.43B | $7.15B | $6.32B | $5.88B | $5.83B | $5.61B | $5.53B |
| Operating Income | $3.80B | $3.76B | $3.61B | $3.00B | $2.66B | $2.85B | $2.43B | $1.89B |
| Operating Margin | 16.14% | 16.29% | 15.64% | 13.55% | 13.36% | 15.54% | 13.55% | 10.78% |
| Net Income | $2.57B | $2.68B | $2.39B | $2.02B | $1.86B | $2.03B | $1.54B | $1.11B |
| Net Margin | 10.90% | 11.61% | 10.36% | 9.12% | 9.35% | 11.06% | 8.61% | 6.32% |
| EPS (Basic) | $10.38 | $10.68 | $9.35 | $7.83 | $7.10 | $7.49 | $5.60 | $3.97 |
| EBITDA | N/A | $4.49B | $4.15B | $3.54B | $3.16B | $3.44B | $2.91B | $2.32B |
| Stock Option Compensation Expense | N/A | $138.10M | $115.90M | $99.70M | $97.70M | $95.90M | $101.70M | $82.60M |
| Price To Earnings Ratio | N/A | 32.21 | 33.35 | 30.31 | 49.58 | 32.44 | 34.76 | 33.00 |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | N/A | $86.38B | $79.66B | $61.23B | $92.44B | $65.86B | $53.57B | $36.59B |
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Short Term Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventories | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Property, Plant & Equipment | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Investments and Advances | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Note Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Intangible Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Assets | $25.90B | $23.63B | $22.95B | $22.59B | $20.67B | $20.40B | $20.50B | $19.13B |
| Short Term Debt Incl. Current Port. of LT Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Provision for Risks Charges | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $21.30B | $19.58B | $19.24B | $19.49B | $18.23B | $16.79B | $16.37B | $15.40B |
| Non-Equity Reserves | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Preferred Stock - Carrying Value | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Common Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Shareholders Equity | $4.60B | $4.05B | $3.72B | $3.10B | $2.44B | $3.61B | $4.12B | $3.73B |
| Accumulated Minority Interest | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $4.60B | $4.05B | $3.72B | $3.10B | $2.44B | $3.61B | $4.12B | $3.73B |
| Total Liabilities & Stockholders Equity | $25.90B | $23.63B | $22.95B | $22.59B | $20.67B | $20.40B | $20.50B | $19.13B |
| Book Value Per Share | N/A | $15.94 | $14.55 | $12.02 | $9.28 | $13.43 | $14.97 | $13.37 |
| Tangible Book Value Per Share | N/A | $-27.79 | $-30.50 | $-32.88 | $-33.14 | $-29.42 | $-27.65 | $-30.21 |
| Full-Time Employees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Book Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | 11.35% | 10.41% | 8.94% | 9.02% | 9.95% | 7.52% | 5.79% |
| Return on Equity | N/A | 66.19% | 64.29% | 65.12% | 76.50% | 56.23% | 37.38% | 29.72% |
| Return on Invested Capital | N/A | 15.38% | 15.18% | 13.06% | 13.49% | 14.18% | 11.11% | 9.96% |
| Quick Ratio | N/A | 0.46 | 0.48 | 0.55 | 0.55 | 0.61 | 0.61 | 0.59 |
| Current Ratio | N/A | 0.79 | 0.83 | 0.99 | 0.88 | 1.00 | 1.02 | 1.01 |
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $2.57B | $2.68B | $2.39B | $2.02B | $1.86B | $2.03B | $1.54B | $1.11B |
| Depreciation | N/A | $624.00M | $622.50M | $581.10M | $572.60M | $581.40M | $574.90M | $596.30M |
| Other Funds (Non Cash) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Funds from Operations | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Extraordinary Item | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Changes in Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Taxes Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Operating Activities | $0.00 | $3.15B | $3.52B | $1.92B | $2.24B | $3.41B | $2.32B | $1.94B |
| Capital Expenditures | N/A | $1.07B | $888.40M | $644.50M | $372.00M | $303.80M | $328.90M | $251.00M |
| Net Assets From Acquisitions | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale of Fixed Assets and Businesses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase or Sale of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale Or Maturity of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Sources | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Investing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Dividends Paid | N/A | $723.40M | $623.70M | $618.50M | $587.10M | $488.00M | $420.80M | $322.90M |
| Change in Capital Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Repurchase of Common Pref Stock | N/A | $1.74B | $1.43B | $883.20M | $2.75B | $2.45B | $778.80M | $613.30M |
| Sale of Common Pref Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Proceeds from Stock Options | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance or Reduction of Debt, Net | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Reduction of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Financing Active Other Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Financing Activities Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Financing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Exchange Rate Effect | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Change in Cash | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | $2.08B | $2.63B | $1.28B | $1.87B | $3.10B | $1.99B | $1.69B |
| Preferred Dividends (Cash Flow) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Company coverage
The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paint, coatings, and related products to professional, industrial, commercial and retail customers. The company operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group. The Paint Stores Group segment offers architectural paint and coatings; protective and marine products; and OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners under the Sherwin-Williams brand. The Consumer Brands Group segment supplies a portfolio of branded and private-label architectural paints, stains, varnishes, industrial products, wood finishes products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks, and adhesives to retailers, including home centers and hardware stores, and dedicated dealers and distributors. The Performance Coatings Group segment develops and sells industrial coatings for wood finishing and general industrial applications; automotive refinish products; protective and marine coatings; coil coatings; packaging coatings; and performance-based resins and colorants. This segment serves retailers, dealers, jobbers, licensees, and other third-party distributors. The company operates in North America, South America, the Caribbean, Europe, Asia, and Australia. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.
Why it moved over time
Sherwin-Williams beat Q2 sales and earnings estimates and raised full-year sales and adjusted EPS guidance, indicating broad demand and pricing power that improve its 2026 earnings outlook.
Key fact: Reported high-single-digit consolidated sales growth in Q2 and raised full-year sales and adjusted EPS guidance.
marketbeat.com: Sherwin-Williams Q2 Earnings Call Highlights