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Axalta Coating Systems (AXTA) Financials

Axalta Coating Systems logo
$28.67 +0.91 (+3.26%)
As of 02:19 PM Eastern
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Annual Income Statements for Axalta Coating Systems

Annual Income Statements for Axalta Coating Systems

This table shows Axalta Coating Systems' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 92 39 37 207 249 122 264 192 267 391 378
Consolidated Net Income / (Loss)		 96 45 48 213 253 122 264 192 269 391 379
Net Income / (Loss) Continuing Operations		 96 45 48 213 253 122 264 192 269 391 379
Total Pre-Tax Income 		158 83 190 268 330 122 341 257 355 496 546
Total Operating Income		 466 405 364 442 488 306 462 423 588 706 735
Total Gross Profit		 1,513 1,564 1,597 1,590 1,564 1,280 1,429 1,418 1,618 1,798 1,762
Total Revenue		 4,110 4,093 4,377 4,696 4,482 3,738 4,416 4,884 5,184 5,276 5,117
Operating Revenue		 4,084 4,069 4,377 4,696 4,482 3,738 4,416 4,884 5,184 5,276 5,117
Total Cost of Revenue		 2,597 2,529 2,781 3,106 2,918 2,458 2,987 3,466 3,566 3,478 3,355
Operating Cost of Revenue		 2,597 2,529 2,781 3,106 2,918 2,458 2,987 3,466 3,566 3,478 3,355
Total Operating Expenses		 1,047 1,159 1,233 1,148 1,076 974 967 995 1,030 1,092 1,027
Selling, General & Admin Expense		 915 960 1,066 876 822 695 783 772 840 847 805
Research & Development Expense		 52 58 65 73 70 55 62 66 74 74 71
Amortization Expense		 81 83 101 115 113 113 121 125 88 92 98
Other Operating Expenses / (Income)		 - - - 83 - 111 - 32 28 79 53
Total Other Income / (Expense), net		 -308 -322 -174 -175 -158 -183 -122 -166 -233 -210 -189
Interest Expense		 197 178 147 160 163 150 134 140 213 205 176
Other Income / (Expense), net		 -111 -144 -27 -15 4.40 -33 12 -26 -20 -5.00 -13
Income Tax Expense		 62 38 142 54 77 0.20 76 65 86 105 167
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.20 5.80 11 6.20 3.60 0.40 0.50 0.00 2.00 0.00 1.00
Basic Earnings per Share		 $0.39 $0.16 $0.15 $0.87 $1.06 $0.52 $1.14 $0.86 $1.21 $1.78 $1.75
Weighted Average Basic Shares Outstanding		 233.80M 242.50M 240.40M 239M 235.06M 233.97M 224.53M 221.05M 220.14M 218.14M 213.37M
Diluted Earnings per Share		 $0.38 $0.16 $0.15 $0.85 $1.06 $0.52 $1.14 $0.86 $1.21 $1.78 $1.74
Weighted Average Diluted Shares Outstanding		 239.70M 242.50M 240.40M 239M 235.06M 233.97M 224.53M 221.05M 220.14M 218.14M 213.37M
Weighted Average Basic & Diluted Shares Outstanding		 234.30M 242.50M 240.40M 239M 235.06M 233.97M 224.53M 221.05M 220.14M 218.14M 213.37M

Quarterly Income Statements for Axalta Coating Systems

This table shows Axalta Coating Systems' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 72 73 41 112 101 137 99 109 110 60 90
Consolidated Net Income / (Loss)		 73 74 39 113 102 137 99 110 110 60 91
Net Income / (Loss) Continuing Operations		 73 74 39 113 102 137 99 110 110 60 91
Total Pre-Tax Income 		103 102 59 156 142 139 129 143 155 119 105
Total Operating Income		 163 162 121 205 193 187 176 193 204 162 146
Total Gross Profit		 423 423 429 460 462 447 433 457 450 422 416
Total Revenue		 1,309 1,297 1,294 1,351 1,320 1,311 1,262 1,305 1,288 1,262 1,254
Operating Revenue		 1,309 1,297 1,294 1,351 1,320 1,311 1,262 1,305 1,288 1,262 1,254
Total Cost of Revenue		 886 874 865 891 858 864 829 848 838 840 838
Operating Cost of Revenue		 886 874 865 891 858 864 829 848 838 840 838
Total Operating Expenses		 260 261 308 255 269 260 257 264 246 260 270
Selling, General & Admin Expense		 209 215 207 213 211 216 202 208 197 198 200
Research & Development Expense		 18 18 18 18 19 19 17 20 18 16 18
Amortization Expense		 20 22 22 22 24 24 24 24 25 25 26
Other Operating Expenses / (Income)		 13 6.00 61 2.00 15 1.00 14 12 6.00 21 26
Total Other Income / (Expense), net		 -60 -60 -62 -49 -51 -48 -47 -50 -49 -43 -41
Interest Expense		 55 55 54 50 54 47 44 45 45 42 38
Other Income / (Expense), net		 -5.00 -5.00 -8.00 1.00 3.00 -1.00 -3.00 -5.00 -4.00 -1.00 -3.00
Income Tax Expense		 30 28 20 43 40 2.00 30 33 45 59 14
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.00 1.00 -2.00 1.00 1.00 - 0.00 1.00 0.00 - 1.00
Basic Earnings per Share		 $0.33 $0.34 $0.18 $0.51 $0.46 $0.63 $0.45 $0.50 $0.51 $0.29 $0.42
Weighted Average Basic Shares Outstanding		 220.08M 220.14M 220.65M 219.30M 218.06M 218.14M 218.56M 216.57M 213.34M 213.37M 214.02M
Diluted Earnings per Share		 $0.33 $0.34 $0.18 $0.51 $0.46 $0.63 $0.45 $0.50 $0.51 $0.28 $0.42
Weighted Average Diluted Shares Outstanding		 220.08M 220.14M 220.65M 219.30M 218.06M 218.14M 218.56M 216.57M 213.34M 213.37M 214.02M
Weighted Average Basic & Diluted Shares Outstanding		 220.08M 220.14M 220.65M 219.30M 218.06M 218.14M 218.56M 216.57M 213.34M 213.37M 214.02M

Annual Cash Flow Statements for Axalta Coating Systems

This table details how cash moves in and out of Axalta Coating Systems' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -46 159 70 218 321 317 -492 -181 54 -65 36
Net Cash From Operating Activities		 251 410 559 540 573 509 559 294 575 576 649
Net Cash From Continuing Operating Activities		 251 410 559 540 573 509 559 294 575 576 649
Net Income / (Loss) Continuing Operations		 35 96 45 48 253 122 264 192 269 391 379
Consolidated Net Income / (Loss)		 35 96 45 48 253 122 264 192 269 391 379
Depreciation Expense		 309 308 322 348 353 320 317 303 276 280 295
Amortization Expense		 21 21 18 8.00 8.80 9.00 8.90 10 9.00 7.00 8.00
Non-Cash Adjustments To Reconcile Net Income		 64 170 241 131 28 55 -0.80 63 84 38 49
Changes in Operating Assets and Liabilities, net		 -177 -184 -66 5.60 -69 2.90 -30 -274 -63 -140 -82
Net Cash From Investing Activities		 -174 -166 -257 -690 -94 -62 -716 -106 -206 -440 -212
Net Cash From Continuing Investing Activities		 -174 -166 -257 -690 -94 -62 -716 -106 -206 -440 -212
Purchase of Property, Plant & Equipment		 -188 -138 -136 -125 -113 -82 -122 -151 -138 -140 -196
Acquisitions		 0.00 -30 -115 -564 -3.30 -1.00 -649 -3.00 -106 -301 -48
Sale and/or Maturity of Investments		 - - 0.00 0.00 - 0.00 0.00 25 29 0.00 0.00
Other Investing Activities, net		 -2.90 1.50 -6.00 -0.20 7.20 21 17 23 9.00 1.00 32
Net Cash From Financing Activities		 -123 -85 -233 367 -158 -131 -335 -369 -315 -201 -401
Net Cash From Continuing Financing Activities		 -123 -85 -233 367 -158 -131 -335 -369 -315 -201 -401
Repayment of Debt		 -155 -144 -1,764 -64 -71 -64 -105 -2,134 -954 -426 -231
Repurchase of Common Equity		 - 0.00 0.00 -58 -105 -26 -244 -200 -50 -100 -165
Issuance of Debt		 34 2.00 1,604 484 - - 0.00 1,980 706 333 0.00
Issuance of Common Equity		 - - - - - 4.30 14 0.00 8.00 4.00 0.00
Other Financing Activities, net		 0.00 62 -70 9.20 49 -40 -0.50 -15 -25 -12 -5.00
Cash Interest Paid		 192 173 169 130 157 152 118 127 213 198 172
Cash Income Taxes Paid		 57 52 39 62 42 26 58 63 97 131 107

Quarterly Cash Flow Statements for Axalta Coating Systems

This table details how cash moves in and out of Axalta Coating Systems' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 109 82 -67 227 -282 57 -26 33 -19 48 -46
Net Cash From Operating Activities		 210 286 34 114 194 234 26 142 137 344 68
Net Cash From Continuing Operating Activities		 210 286 34 114 194 234 26 142 137 344 68
Net Income / (Loss) Continuing Operations		 73 74 39 113 102 137 99 110 110 60 91
Consolidated Net Income / (Loss)		 73 74 39 113 102 137 99 110 110 60 91
Depreciation Expense		 71 69 68 68 71 73 70 74 74 77 76
Amortization Expense		 3.00 2.00 2.00 2.00 2.00 1.00 2.00 2.00 2.00 2.00 2.00
Non-Cash Adjustments To Reconcile Net Income		 33 6.00 17 10 4.00 7.00 9.00 32 8.00 - 2.00
Changes in Operating Assets and Liabilities, net		 30 135 -92 -79 15 16 -154 -76 -57 205 -103
Net Cash From Investing Activities		 -28 -141 -19 -17 -338 -66 -44 -39 -39 -90 -53
Net Cash From Continuing Investing Activities		 -28 -141 -19 -17 -338 -66 -44 -39 -39 -90 -53
Purchase of Property, Plant & Equipment		 -31 -33 -22 -23 -33 -62 -43 -45 -50 -58 -50
Acquisitions		 - -106 0.00 - - -11 -6.00 - - -42 -8.00
Sale and/or Maturity of Investments		 - - - - - - 1.00 - - - 4.00
Other Investing Activities, net		 3.00 -2.00 3.00 6.00 -15 7.00 4.00 6.00 11 10 1.00
Net Cash From Financing Activities		 -73 -63 -82 130 -138 -111 -8.00 -70 -117 -206 -61
Net Cash From Continuing Financing Activities		 -73 -63 -82 130 -138 -111 -8.00 -70 -117 -206 -61
Repayment of Debt		 -215 -556 -188 -4.00 -86 -148 -6.00 -5.00 -16 -204 -55
Other Financing Activities, net		 -3.00 -8.00 -2.00 -2.00 -1.00 -7.00 -2.00 - -1.00 -2.00 -6.00

Annual Balance Sheets for Axalta Coating Systems

This table presents Axalta Coating Systems' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 5,830 5,866 6,832 6,676 6,818 7,157 7,217 7,059 7,272 7,249 7,599
Total Current Assets		 1,848 1,920 2,316 2,310 2,573 2,926 2,576 2,693 2,821 2,723 2,815
Cash & Equivalents		 485 535 770 694 1,018 1,361 841 645 700 593 657
Restricted Cash		 2.70 2.70 3.10 2.80 3.00 3.10 11 9.70 3.00 3.00 3.00
Accounts Receivable		 766 802 870 861 830 870 938 1,067 1,260 1,248 1,229
Inventories, net		 531 530 609 613 592 560 670 830 741 734 756
Prepaid Expenses		 64 50 64 139 131 132 117 141 117 145 170
Plant, Property, & Equipment, net		 1,383 1,316 1,389 1,298 0.00 0.00 1,186 1,190 1,204 1,181 1,299
Total Noncurrent Assets		 2,599 2,631 3,128 3,068 4,245 4,231 3,455 3,176 3,247 3,345 3,485
Goodwill		 928 964 1,271 1,231 1,209 1,295 1,593 1,498 1,591 1,640 1,795
Intangible Assets		 1,192 1,130 1,428 1,348 1,224 1,149 1,278 1,112 1,130 1,149 1,147
Other Noncurrent Operating Assets		 480 536 429 489 1,812 1,788 585 566 526 556 543
Total Liabilities & Shareholders' Equity		 5,830 5,866 6,832 6,676 6,818 7,157 7,217 7,059 7,272 7,249 7,599
Total Liabilities		 4,689 4,620 5,424 5,365 5,408 5,677 5,679 5,560 5,499 5,293 5,206
Total Current Liabilities		 875 942 1,082 1,041 1,073 1,181 1,335 1,385 1,428 1,354 1,369
Short-Term Debt		 50 28 38 42 44 54 80 31 26 20 20
Accounts Payable		 455 474 555 523 484 564 657 734 725 659 637
Accrued Expenses		 370 440 490 476 545 562 598 620 677 675 712
Total Noncurrent Liabilities		 3,814 3,678 4,342 4,325 4,336 4,497 4,344 4,175 4,071 3,939 3,837
Long-Term Debt		 3,391 3,236 3,878 3,822 3,790 3,839 3,750 3,673 3,478 3,401 3,179
Noncurrent Deferred & Payable Income Tax Liabilities		 148 160 153 141 116 114 175 162 162 151 171
Noncurrent Employee Benefit Liabilities		 252 249 279 262 285 310 269 205 252 220 238
Other Noncurrent Operating Liabilities		 22 32 32 100 145 234 150 135 179 167 249
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,141 1,247 1,408 1,311 1,410 1,480 1,539 1,500 1,773 1,956 2,393
Total Preferred & Common Equity		 1,074 1,125 1,276 1,205 1,354 1,433 1,493 1,454 1,727 1,912 2,346
Total Common Equity		 1,074 1,125 1,276 1,205 1,354 1,433 1,493 1,454 1,727 1,912 2,346
Common Stock		 1,476 1,534 1,597 1,655 1,724 1,738 1,767 1,789 1,822 1,854 1,876
Retained Earnings		 -133 -58 -21 199 443 563 827 1,019 1,286 1,677 2,055
Treasury Stock		 - 0.00 -58 -312 -418 -444 -687 -887 -937 -1,037 -1,202
Accumulated Other Comprehensive Income / (Loss)		 -269 -350 -241 -336 -396 -425 -414 -467 -444 -582 -383
Noncontrolling Interest		 68 122 132 105 55 47 46 46 46 44 47

Quarterly Balance Sheets for Axalta Coating Systems

This table presents Axalta Coating Systems' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 6,819 7,001 7,043 6,996 7,089 7,306 7,500 7,411 7,781 7,760 7,558
Total Current Assets		 2,668 2,624 2,690 2,786 2,760 3,014 2,838 2,821 2,987 2,991 2,827
Cash & Equivalents		 517 512 518 606 624 840 567 575 625 606 608
Restricted Cash		 9.30 2.60 2.40 2.30 3.00 3.00 4.00 3.00 3.00 4.00 3.00
Accounts Receivable		 1,107 1,170 1,271 1,301 1,242 1,268 1,298 1,282 1,348 1,353 1,261
Inventories, net		 829 799 767 750 751 745 818 787 831 829 770
Prepaid Expenses		 205 141 132 127 140 158 151 174 180 199 185
Plant, Property, & Equipment, net		 1,122 1,204 1,197 1,169 1,174 1,158 1,188 1,199 1,255 1,279 1,293
Total Noncurrent Assets		 3,029 3,173 3,157 3,041 3,155 3,134 3,474 3,391 3,539 3,490 3,438
Goodwill		 1,390 1,524 1,527 1,484 1,554 1,549 1,718 1,677 1,775 1,769 1,772
Intangible Assets		 1,094 1,093 1,077 1,037 1,087 1,061 1,207 1,146 1,167 1,141 1,114
Other Noncurrent Operating Assets		 545 556 553 520 514 524 549 568 597 580 552
Total Liabilities & Shareholders' Equity		 6,819 7,001 7,043 6,996 7,089 7,306 7,500 7,411 7,781 7,760 7,558
Total Liabilities		 5,500 5,385 5,354 5,347 5,314 5,488 5,549 5,289 5,470 5,435 5,091
Total Current Liabilities		 1,350 1,280 1,329 1,358 1,332 1,335 1,422 1,330 1,406 1,360 1,348
Short-Term Debt		 67 42 39 32 20 20 20 20 20 20 20
Accounts Payable		 747 704 702 710 721 715 708 732 764 691 723
Accrued Expenses		 536 535 588 616 591 600 694 578 622 649 605
Total Noncurrent Liabilities		 4,150 4,106 4,025 3,989 3,982 4,153 4,127 3,959 4,064 4,075 3,743
Long-Term Debt		 3,663 3,606 3,529 3,511 3,407 3,588 3,505 3,398 3,395 3,382 3,127
Noncurrent Deferred & Payable Income Tax Liabilities		 140 163 155 145 155 152 163 153 163 164 175
Noncurrent Employee Benefit Liabilities		 227 208 209 201 241 236 244 223 241 240 228
Other Noncurrent Operating Liabilities		 120 130 131 132 179 177 215 185 265 289 213
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,319 1,615 1,689 1,649 1,775 1,818 1,951 2,122 2,311 2,325 2,467
Total Preferred & Common Equity		 1,273 1,570 1,644 1,604 1,731 1,773 1,905 2,076 2,265 2,279 2,421
Total Common Equity		 1,273 1,570 1,644 1,604 1,731 1,773 1,905 2,076 2,265 2,279 2,421
Common Stock		 1,779 1,801 1,811 1,815 1,829 1,838 1,844 1,857 1,865 1,870 1,877
Retained Earnings		 975 1,079 1,140 1,213 1,327 1,439 1,540 1,776 1,885 1,995 2,145
Treasury Stock		 -887 -887 -887 -937 -937 -987 -1,037 -1,037 -1,102 -1,202 -1,202
Accumulated Other Comprehensive Income / (Loss)		 -594 -423 -420 -487 -488 -517 -442 -520 -383 -384 -399
Noncontrolling Interest		 46 45 45 45 44 45 46 46 46 46 46

Annual Metrics And Ratios for Axalta Coating Systems

This table displays calculated financial ratios and metrics derived from Axalta Coating Systems' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -6.41% -0.42% 6.95% 7.29% -4.55% -16.61% 18.16% 10.59% 6.14% 1.77% -3.01%
EBITDA Growth		 16.86% -12.00% 15.20% 16.20% 6.24% -29.61% 33.04% -11.26% 20.14% 15.83% 3.74%
EBIT Growth		 39.25% -26.38% 29.01% 26.89% 15.34% -44.76% 74.46% -16.37% 43.07% 23.42% 3.00%
NOPAT Growth		 -18.92% -22.66% -58.12% 285.27% 6.01% -18.38% 17.72% -11.99% 40.99% 24.91% -8.33%
Net Income Growth		 176.08% -53.44% 6.95% 347.17% 18.42% -51.70% 116.72% -27.38% 40.10% 45.35% -3.07%
EPS Growth		 216.67% -57.89% -6.25% 466.67% 24.71% -50.94% 119.23% -24.56% 40.70% 47.11% -2.25%
Operating Cash Flow Growth		 63.01% 36.48% -3.45% 0.00% 0.00% -11.13% 9.68% -47.37% 95.58% 0.17% 12.67%
Free Cash Flow Firm Growth		 -1,194.25% 108.95% -242.67% 187.33% 47.93% -17.32% -128.78% 290.05% 47.94% -16.87% 2.76%
Invested Capital Growth		 0.00% -2.99% 14.55% -1.59% -5.69% -5.08% 12.69% 0.70% 0.55% 4.53% 3.16%
Revenue Q/Q Growth		 -1.93% 0.69% 3.26% -0.14% -1.48% -0.64% 1.44% 2.07% 1.18% 0.26% -0.95%
EBITDA Q/Q Growth		 10.26% -11.23% 14.53% 3.13% -2.68% 2.12% -3.56% -1.09% 7.01% 3.44% -1.91%
EBIT Q/Q Growth		 20.83% -23.06% 33.15% 5.30% -2.94% 8.54% -6.79% -0.03% 12.01% 4.32% -3.35%
NOPAT Q/Q Growth		 -4.14% -38.64% -52.63% 160.91% -11.79% 27.08% -10.78% 0.78% 8.04% 14.55% -16.68%
Net Income Q/Q Growth		 60.47% -61.45% -31.07% 163.66% -12.05% 29.93% -6.01% -4.81% 12.60% 19.39% -16.89%
EPS Q/Q Growth		 65.22% -65.22% -37.50% 183.33% -10.92% 30.00% -5.00% -4.44% 13.08% 19.46% -16.75%
Operating Cash Flow Q/Q Growth		 15.18% -3.12% 1.05% 0.00% 0.00% -0.95% -1.72% -7.20% 7.56% -8.32% 20.41%
Free Cash Flow Firm Q/Q Growth		 0.00% 7.49% -80.12% 84.18% -8.78% -0.86% 20.86% -41.08% 19.45% 113.19% -10.27%
Invested Capital Q/Q Growth		 -3.49% -7.23% -4.11% -3.69% -3.67% -2.23% -3.72% 0.58% -0.20% -2.53% -3.62%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 36.81% 38.21% 36.47% 33.85% 34.90% 34.24% 32.36% 29.03% 31.21% 34.08% 34.43%
EBITDA Margin		 16.61% 14.68% 15.81% 17.13% 19.06% 16.09% 18.12% 14.54% 16.45% 18.73% 20.03%
Operating Margin		 11.33% 9.90% 8.31% 9.41% 10.89% 8.17% 10.47% 8.66% 11.34% 13.38% 14.36%
EBIT Margin		 8.62% 6.37% 7.69% 9.10% 10.99% 7.28% 10.75% 8.13% 10.96% 13.29% 14.11%
Profit (Net Income) Margin		 2.33% 1.09% 1.09% 4.54% 5.64% 3.26% 5.99% 3.93% 5.19% 7.41% 7.41%
Tax Burden Percent		 60.67% 53.93% 25.16% 79.74% 76.55% 99.84% 77.65% 74.71% 75.77% 78.83% 69.41%
Interest Burden Percent		 44.55% 31.70% 56.33% 62.63% 66.99% 44.91% 71.73% 64.74% 62.50% 70.76% 75.62%
Effective Tax Rate		 39.33% 46.07% 74.84% 20.26% 23.45% 0.16% 22.35% 25.29% 24.23% 21.17% 30.59%
Return on Invested Capital (ROIC)		 13.80% 5.42% 2.15% 7.81% 8.59% 7.41% 8.42% 6.97% 9.77% 11.90% 10.51%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.16% -0.71% 0.65% 3.40% 4.54% 0.56% 4.99% 2.86% 3.73% 6.01% 5.61%
Return on Net Nonoperating Assets (RNNOA)		 2.99% -1.68% 1.45% 7.88% 9.98% 1.03% 9.10% 5.67% 6.67% 9.07% 6.92%
Return on Equity (ROE)		 16.79% 3.74% 3.59% 15.69% 18.57% 8.44% 17.52% 12.64% 16.44% 20.97% 17.43%
Cash Return on Invested Capital (CROIC)		 -186.20% 8.46% -11.42% 9.41% 14.45% 12.63% -3.51% 6.27% 9.22% 7.47% 7.40%
Operating Return on Assets (OROA)		 12.16% 4.46% 5.30% 6.32% 7.30% 3.89% 6.60% 5.56% 7.93% 9.66% 9.73%
Return on Assets (ROA)		 3.29% 0.76% 0.75% 3.16% 3.74% 1.75% 3.68% 2.69% 3.75% 5.39% 5.11%
Return on Common Equity (ROCE)		 15.80% 3.44% 3.25% 14.32% 17.47% 8.15% 16.98% 12.26% 15.98% 20.46% 17.06%
Return on Equity Simple (ROE_SIMPLE)		 8.92% 3.96% 3.74% 17.70% 18.65% 8.51% 17.71% 13.21% 15.58% 20.45% 0.00%
Net Operating Profit after Tax (NOPAT)		 282 218 92 353 374 305 359 316 446 557 510
NOPAT Margin		 6.87% 5.34% 2.09% 7.51% 8.34% 8.16% 8.13% 6.47% 8.59% 10.55% 9.97%
Net Nonoperating Expense Percent (NNEP)		 12.64% 6.12% 1.49% 4.41% 4.05% 6.85% 3.44% 4.11% 6.04% 5.89% 4.89%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 6.07% 8.44% 10.35% 9.12%
Cost of Revenue to Revenue		 63.19% 61.79% 63.53% 66.15% 65.10% 65.76% 67.64% 70.97% 68.79% 65.92% 65.57%
SG&A Expenses to Revenue		 22.26% 23.45% 24.36% 18.66% 18.34% 18.59% 17.72% 15.81% 16.20% 16.05% 15.73%
R&D to Revenue		 1.26% 1.41% 1.49% 1.56% 1.57% 1.48% 1.41% 1.35% 1.43% 1.40% 1.39%
Operating Expenses to Revenue		 25.48% 28.31% 28.17% 24.44% 24.01% 26.06% 21.89% 20.37% 19.87% 20.70% 20.07%
Earnings before Interest and Taxes (EBIT)		 354 261 337 427 493 272 475 397 568 701 722
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 683 601 692 804 854 601 800 710 853 988 1,025
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.90 5.81 6.18 4.64 5.27 4.69 5.07 3.87 4.33 3.90 2.94
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.54 1.60 1.80 1.19 1.59 1.80 1.71 1.15 1.44 1.41 1.35
Price to Earnings (P/E)		 69.20 168.57 214.82 27.00 28.65 55.29 28.66 29.27 28.00 19.08 18.24
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.45% 0.59% 0.47% 3.70% 3.49% 1.81% 3.49% 3.42% 3.57% 5.24% 5.48%
Enterprise Value to Invested Capital (EV/IC)		 2.29 2.36 2.45 1.98 2.37 2.32 2.34 1.92 2.26 2.16 1.92
Enterprise Value to Revenue (EV/Rev)		 2.28 2.29 2.55 1.89 2.23 2.49 2.40 1.78 1.99 1.96 1.85
Enterprise Value to EBITDA (EV/EBITDA)		 13.71 15.63 16.12 11.02 11.71 15.46 13.23 12.27 12.10 10.46 9.25
Enterprise Value to EBIT (EV/EBIT)		 26.41 35.98 33.15 20.75 20.31 34.17 22.30 21.95 18.17 14.74 13.13
Enterprise Value to NOPAT (EV/NOPAT)		 33.13 42.97 121.95 25.14 26.77 30.49 29.49 27.58 23.17 18.56 18.58
Enterprise Value to Operating Cash Flow (EV/OCF)		 22.84 16.79 20.66 0.00 17.45 18.26 18.95 29.64 17.95 17.94 14.61
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 27.52 0.00 20.86 15.91 17.89 0.00 30.66 24.55 29.56 26.39
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 3.02 2.62 2.78 2.95 2.72 2.63 2.49 2.47 1.98 1.75 1.34
Long-Term Debt to Equity		 2.97 2.60 2.75 2.92 2.69 2.59 2.44 2.45 1.96 1.74 1.33
Financial Leverage		 2.59 2.38 2.21 2.32 2.20 1.85 1.82 1.98 1.79 1.51 1.23
Leverage Ratio		 5.11 4.90 4.78 4.97 4.96 4.84 4.76 4.70 4.38 3.89 3.41
Compound Leverage Factor		 2.28 1.55 2.69 3.11 3.32 2.17 3.42 3.04 2.74 2.76 2.58
Debt to Total Capital		 75.10% 72.36% 73.55% 74.67% 73.12% 72.46% 71.34% 71.18% 66.40% 63.62% 57.21%
Short-Term Debt to Total Capital		 1.09% 0.62% 0.71% 0.82% 0.84% 1.01% 1.48% 0.60% 0.49% 0.37% 0.36%
Long-Term Debt to Total Capital		 74.00% 71.74% 72.85% 73.86% 72.28% 71.45% 69.85% 70.59% 65.91% 63.25% 56.85%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.47% 2.69% 2.47% 2.04% 1.06% 0.87% 0.85% 0.88% 0.87% 0.82% 0.84%
Common Equity to Total Capital		 23.43% 24.94% 23.97% 23.29% 25.83% 26.67% 27.81% 27.93% 32.73% 35.56% 41.95%
Debt to EBITDA		 5.04 5.43 5.66 4.80 4.49 6.47 4.79 5.22 4.11 3.46 3.12
Net Debt to EBITDA		 4.33 4.54 4.54 3.94 3.29 4.20 3.72 4.29 3.28 2.86 2.48
Long-Term Debt to EBITDA		 4.97 5.39 5.60 4.75 4.44 6.38 4.69 5.17 4.08 3.44 3.10
Debt to NOPAT		 12.18 14.94 42.79 10.96 10.26 12.76 10.67 11.72 7.86 6.15 6.27
Net Debt to NOPAT		 10.46 12.48 34.35 8.99 7.53 8.29 8.30 9.65 6.29 5.08 4.98
Long-Term Debt to NOPAT		 12.01 14.81 42.38 10.84 10.14 12.59 10.44 11.62 7.81 6.11 6.23
Altman Z-Score		 1.89 1.88 1.89 1.81 2.04 1.76 1.99 1.91 2.26 2.44 2.39
Noncontrolling Interest Sharing Ratio		 5.91% 7.92% 9.54% 8.72% 5.91% 3.54% 3.07% 3.02% 2.81% 2.41% 2.09%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.11 2.04 2.14 2.22 2.40 2.48 1.93 1.94 1.98 2.01 2.06
Quick Ratio		 1.43 1.42 1.52 1.49 1.72 1.89 1.33 1.24 1.37 1.36 1.38
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,813 341 -487 425 629 520 -150 284 420 350 359
Operating Cash Flow to CapEx		 296.74% 410.65% 432.00% 0.00% 509.42% 620.34% 459.38% 194.70% 416.67% 411.43% 331.12%
Free Cash Flow to Firm to Interest Expense		 -19.40 1.91 -3.31 2.66 3.87 3.47 -1.11 2.03 1.97 1.71 2.04
Operating Cash Flow to Interest Expense		 2.09 3.14 3.67 0.00 3.52 3.40 4.16 2.10 2.70 2.81 3.69
Operating Cash Flow Less CapEx to Interest Expense		 1.38 2.37 2.82 0.00 2.83 2.85 3.26 1.02 2.05 2.13 2.57
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.41 0.70 0.69 0.70 0.66 0.53 0.61 0.68 0.72 0.73 0.69
Accounts Receivable Turnover		 0.00 5.22 5.24 5.43 5.30 4.40 4.89 4.87 4.45 4.21 4.13
Inventory Turnover		 0.00 4.77 4.89 5.09 4.84 4.27 4.86 4.62 4.54 4.72 4.50
Fixed Asset Turnover		 0.00 3.03 3.24 3.50 0.00 0.00 0.00 4.11 4.33 4.42 4.13
Accounts Payable Turnover		 0.00 5.44 5.40 5.76 5.80 4.69 4.89 4.98 4.89 5.03 5.18
Days Sales Outstanding (DSO)		 0.00 69.91 69.72 67.27 68.85 83.00 74.69 74.92 81.93 86.75 88.34
Days Inventory Outstanding (DIO)		 0.00 76.53 74.71 71.77 75.34 85.50 75.12 78.94 80.38 77.40 81.05
Days Payable Outstanding (DPO)		 0.00 67.04 67.55 63.32 62.95 77.82 74.64 73.24 74.64 72.62 70.50
Cash Conversion Cycle (CCC)		 0.00 79.40 76.89 75.73 81.24 90.68 75.16 80.62 87.67 91.53 98.90
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 4,095 3,972 4,551 4,478 4,223 4,009 4,517 4,549 4,574 4,781 4,932
Invested Capital Turnover		 2.01 1.01 1.03 1.04 1.03 0.91 1.04 1.08 1.14 1.13 1.05
Increase / (Decrease) in Invested Capital		 4,095 -123 578 -72 -255 -215 509 32 25 207 151
Enterprise Value (EV)		 9,360 9,388 11,158 8,864 10,002 9,298 10,587 8,714 10,323 10,331 9,479
Market Capitalization		 6,339 6,541 7,884 5,591 7,133 6,723 7,563 5,619 7,476 7,462 6,893
Book Value per Share		 $4.51 $4.68 $5.24 $5.05 $5.77 $6.09 $6.54 $6.59 $7.85 $8.77 $11.00
Tangible Book Value per Share		 ($4.40) ($4.03) ($5.84) ($5.75) ($4.60) ($4.29) ($6.03) ($5.24) ($4.52) ($4.02) ($2.79)
Total Capital		 4,583 4,511 5,323 5,175 5,244 5,373 5,368 5,204 5,277 5,377 5,592
Total Debt		 3,442 3,264 3,916 3,864 3,834 3,893 3,830 3,704 3,504 3,421 3,199
Total Long-Term Debt		 3,391 3,236 3,878 3,822 3,790 3,839 3,750 3,673 3,478 3,401 3,179
Net Debt		 2,954 2,726 3,143 3,168 2,814 2,529 2,978 3,049 2,801 2,825 2,539
Capital Expenditures (CapEx)		 138 136 125 -143 113 82 122 151 138 140 196
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 535 468 498 615 524 435 469 684 716 793 806
Debt-free Net Working Capital (DFNWC)		 1,023 1,006 1,271 1,311 1,544 1,799 1,320 1,339 1,419 1,389 1,466
Net Working Capital (NWC)		 973 978 1,233 1,269 1,501 1,745 1,241 1,308 1,393 1,369 1,446
Net Nonoperating Expense (NNE)		 187 174 44 139 121 183 95 124 177 166 131
Net Nonoperating Obligations (NNO)		 2,954 2,726 3,143 3,168 2,814 2,529 2,978 3,049 2,801 2,825 2,539
Total Depreciation and Amortization (D&A)		 328 340 356 377 362 329 325 313 285 287 303
Debt-free, Cash-free Net Working Capital to Revenue		 13.02% 11.43% 11.38% 13.09% 11.69% 11.64% 10.62% 14.01% 13.81% 15.03% 15.75%
Debt-free Net Working Capital to Revenue		 24.89% 24.58% 29.04% 27.92% 34.46% 48.14% 29.90% 27.42% 27.37% 26.33% 28.65%
Net Working Capital to Revenue		 23.67% 23.89% 28.18% 27.02% 33.48% 46.69% 28.09% 26.78% 26.87% 25.95% 28.26%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.40 $0.18 $0.15 $0.87 $1.06 $0.52 $1.14 $0.86 $1.21 $1.78 $1.75
Adjusted Weighted Average Basic Shares Outstanding		 233.80M 238.10M 240.40M 234.28M 235.06M 233.97M 224.53M 221.05M 220.14M 218.14M 213.37M
Adjusted Diluted Earnings per Share		 $0.39 $0.17 $0.15 $0.85 $1.06 $0.52 $1.14 $0.86 $1.21 $1.78 $1.74
Adjusted Weighted Average Diluted Shares Outstanding		 239.70M 244.40M 246.10M 234.28M 235.06M 233.97M 224.53M 221.05M 220.14M 218.14M 213.37M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 238.30M 241.34M 245.08M 234.28M 235.06M 233.97M 224.53M 221.05M 220.14M 218.14M 213.37M
Normalized Net Operating Profit after Tax (NOPAT)		 282 250 255 353 428 305 359 316 446 557 510
Normalized NOPAT Margin		 6.87% 6.10% 5.82% 7.51% 9.54% 8.16% 8.13% 6.47% 8.59% 10.55% 9.97%
Pre Tax Income Margin		 3.84% 2.02% 4.33% 5.70% 7.36% 3.27% 7.71% 5.26% 6.85% 9.40% 10.67%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.80 1.46 2.29 2.68 3.03 1.82 3.54 2.84 2.67 3.42 4.10
NOPAT to Interest Expense		 1.44 1.23 0.62 2.21 2.30 2.03 2.68 2.26 2.09 2.71 2.90
EBIT Less CapEx to Interest Expense		 1.10 0.70 1.44 3.57 2.34 1.27 2.63 1.76 2.02 2.74 2.99
NOPAT Less CapEx to Interest Expense		 0.73 0.46 -0.23 3.11 1.61 1.49 1.77 1.18 1.44 2.03 1.79
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 4.91% 6.73% 6.29% -13.08% 12.31% 4.75% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 4.91% 6.73% 128.72% -132.07% 54.00% 26.07% 92.21% 104.17% 18.59% 25.58% 43.54%

Quarterly Metrics And Ratios for Axalta Coating Systems

This table displays calculated financial ratios and metrics derived from Axalta Coating Systems' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 213,373,942.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 213,373,942.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.42
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5.68% 4.91% 0.78% 4.40% 0.84% 1.08% -2.47% -3.40% -2.42% -3.74% -0.63%
EBITDA Growth		 17.77% 32.33% -6.63% 40.10% 15.95% 14.04% 33.88% -4.35% 2.60% -7.69% -9.80%
EBIT Growth		 31.56% 63.54% -8.87% 59.69% 24.05% 18.47% 53.10% -8.74% 2.04% -13.44% -17.34%
NOPAT Growth		 25.76% 40.12% -20.28% 30.54% 20.00% 56.82% 68.87% -0.02% 4.43% -55.68% -6.32%
Net Income Growth		 15.32% 69.34% -36.07% 85.25% 39.73% 85.14% 153.85% -2.65% 7.84% -56.20% -8.08%
EPS Growth		 17.86% 70.00% -33.33% 88.89% 39.39% 85.29% 150.00% -1.96% 10.87% -55.56% -6.67%
Operating Cash Flow Growth		 162.83% 16.35% 165.38% -12.98% -7.62% -18.18% -23.53% 24.56% -29.38% 47.01% 161.54%
Free Cash Flow Firm Growth		 -78.85% 77.48% 10,749.67% 3,849.37% -432.46% -124.55% -199.70% -221.21% 63.32% -205.50% 133.95%
Invested Capital Growth		 1.34% 0.55% -3.64% -3.25% 7.02% 4.53% 8.46% 11.24% 4.32% 3.16% 0.83%
Revenue Q/Q Growth		 1.16% -0.92% -0.24% 4.40% -2.29% -0.68% -3.74% 3.41% -1.30% -2.02% -0.63%
EBITDA Q/Q Growth		 17.77% -1.72% -19.74% 50.82% -2.54% -3.35% -5.77% 7.76% 4.55% -13.04% -7.92%
EBIT Q/Q Growth		 22.48% -0.63% -28.16% 82.30% -4.85% -5.10% -6.99% 8.67% 6.38% -19.50% -11.18%
NOPAT Q/Q Growth		 1.55% 1.74% -30.75% 85.66% -6.64% 32.95% -26.72% 9.91% -2.48% -43.58% 54.91%
Net Income Q/Q Growth		 19.67% 1.37% -46.72% 189.74% -9.73% 34.31% -27.74% 11.11% 0.00% -45.45% 51.67%
EPS Q/Q Growth		 22.22% 3.03% -47.06% 183.33% -9.80% 36.96% -28.57% 11.11% 2.00% -45.10% 50.00%
Operating Cash Flow Q/Q Growth		 60.31% 36.19% -88.11% 235.29% 70.18% 20.62% -88.89% 446.15% -3.52% 151.09% -80.23%
Free Cash Flow Firm Q/Q Growth		 619.94% 67.67% 179.52% 19.67% -160.61% 87.62% -1,010.28% -45.49% 81.66% -3.11% 223.39%
Invested Capital Q/Q Growth		 -3.25% -0.20% 0.02% 0.17% 7.03% -2.53% 3.79% 2.74% 0.37% -3.62% 1.44%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 32.31% 32.61% 33.15% 34.05% 35.00% 34.10% 34.31% 35.02% 34.94% 33.44% 33.17%
EBITDA Margin		 17.72% 17.58% 14.14% 20.43% 20.38% 19.83% 19.41% 20.23% 21.43% 19.02% 17.62%
Operating Margin		 12.45% 12.49% 9.35% 15.17% 14.62% 14.26% 13.95% 14.79% 15.84% 12.84% 11.64%
EBIT Margin		 12.07% 12.10% 8.73% 15.25% 14.85% 14.19% 13.71% 14.41% 15.53% 12.76% 11.40%
Profit (Net Income) Margin		 5.58% 5.71% 3.01% 8.36% 7.73% 10.45% 7.84% 8.43% 8.54% 4.75% 7.26%
Tax Burden Percent		 70.87% 72.55% 66.10% 72.44% 71.83% 98.56% 76.74% 76.92% 70.97% 50.42% 86.67%
Interest Burden Percent		 65.19% 64.97% 52.21% 75.73% 72.45% 74.73% 74.57% 76.06% 77.50% 73.91% 73.43%
Effective Tax Rate		 29.13% 27.45% 33.90% 27.56% 28.17% 1.44% 23.26% 23.08% 29.03% 49.58% 13.33%
Return on Invested Capital (ROIC)		 9.93% 10.30% 6.89% 12.39% 11.65% 15.86% 11.77% 12.22% 11.59% 6.82% 10.35%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.55% 8.81% 5.51% 11.16% 10.41% 14.18% 10.49% 10.83% 10.38% 6.01% 9.02%
Return on Net Nonoperating Assets (RNNOA)		 17.67% 15.75% 9.63% 18.51% 17.02% 21.39% 15.18% 14.56% 13.95% 7.41% 10.57%
Return on Equity (ROE)		 27.61% 26.05% 16.52% 30.89% 28.67% 37.24% 26.95% 26.78% 25.53% 14.23% 20.92%
Cash Return on Invested Capital (CROIC)		 7.73% 9.22% 12.84% 13.23% 3.46% 7.47% 4.60% 1.90% 7.99% 7.40% 9.23%
Operating Return on Assets (OROA)		 8.95% 8.76% 6.44% 11.16% 10.78% 10.31% 9.92% 9.93% 10.51% 8.79% 7.78%
Return on Assets (ROA)		 4.14% 4.13% 2.22% 6.12% 5.61% 7.59% 5.67% 5.81% 5.78% 3.28% 4.95%
Return on Common Equity (ROCE)		 26.76% 25.32% 16.09% 30.10% 27.95% 36.35% 26.33% 26.19% 24.98% 13.94% 20.50%
Return on Equity Simple (ROE_SIMPLE)		 14.89% 0.00% 14.24% 16.84% 17.19% 0.00% 21.72% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 116 118 80 148 139 184 135 148 145 82 127
NOPAT Margin		 8.83% 9.06% 6.18% 10.99% 10.50% 14.06% 10.70% 11.38% 11.24% 6.47% 10.09%
Net Nonoperating Expense Percent (NNEP)		 1.39% 1.49% 1.38% 1.22% 1.24% 1.68% 1.28% 1.39% 1.21% 0.81% 1.32%
Return On Investment Capital (ROIC_SIMPLE)		 - 2.23% - - - 3.43% 2.44% 2.59% 2.53% 1.46% 2.25%
Cost of Revenue to Revenue		 67.69% 67.39% 66.85% 65.95% 65.00% 65.90% 65.69% 64.98% 65.06% 66.56% 66.83%
SG&A Expenses to Revenue		 15.97% 16.58% 16.00% 15.77% 15.98% 16.48% 16.01% 15.94% 15.30% 15.69% 15.95%
R&D to Revenue		 1.38% 1.39% 1.39% 1.33% 1.44% 1.45% 1.35% 1.53% 1.40% 1.27% 1.44%
Operating Expenses to Revenue		 19.86% 20.12% 23.80% 18.87% 20.38% 19.83% 20.36% 20.23% 19.10% 20.60% 21.53%
Earnings before Interest and Taxes (EBIT)		 158 157 113 206 196 186 173 188 200 161 143
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 232 228 183 276 269 260 245 264 276 240 221
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.72 4.33 4.37 4.25 4.17 3.90 3.49 2.86 2.72 2.94 2.44
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.16 1.44 1.46 1.44 1.51 1.41 1.38 1.25 1.20 1.35 1.16
Price to Earnings (P/E)		 25.10 28.00 30.59 25.27 24.24 19.08 16.12 14.55 13.62 18.24 16.02
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 3.98% 3.57% 3.27% 3.96% 4.13% 5.24% 6.21% 6.87% 7.34% 5.48% 6.24%
Enterprise Value to Invested Capital (EV/IC)		 1.95 2.26 2.28 2.26 2.23 2.16 2.04 1.83 1.77 1.92 1.70
Enterprise Value to Revenue (EV/Rev)		 1.75 1.99 2.00 1.97 2.08 1.96 1.93 1.79 1.75 1.85 1.66
Enterprise Value to EBITDA (EV/EBITDA)		 11.22 12.10 12.41 11.27 11.45 10.46 9.64 8.98 8.65 9.25 8.48
Enterprise Value to EBIT (EV/EBIT)		 17.64 18.17 18.69 16.32 16.27 14.74 13.30 12.55 12.10 13.13 12.27
Enterprise Value to NOPAT (EV/NOPAT)		 21.69 23.17 24.45 22.37 22.51 18.56 16.69 15.36 14.76 18.58 16.95
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.73 17.95 15.75 16.06 17.41 17.94 17.82 15.64 16.77 14.61 12.29
Enterprise Value to Free Cash Flow (EV/FCFF)		 25.41 24.55 17.39 16.79 66.70 29.56 46.14 101.56 22.57 26.39 18.46
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.15 1.98 1.93 1.98 1.81 1.75 1.61 1.48 1.46 1.34 1.28
Long-Term Debt to Equity		 2.13 1.96 1.92 1.97 1.80 1.74 1.60 1.47 1.45 1.33 1.27
Financial Leverage		 2.07 1.79 1.75 1.66 1.64 1.51 1.45 1.34 1.34 1.23 1.17
Leverage Ratio		 4.65 4.38 4.16 4.09 4.03 3.89 3.72 3.65 3.57 3.41 3.26
Compound Leverage Factor		 3.03 2.85 2.17 3.10 2.92 2.91 2.77 2.78 2.77 2.52 2.40
Debt to Total Capital		 68.24% 66.40% 65.88% 66.49% 64.37% 63.62% 61.70% 59.64% 59.40% 57.21% 56.06%
Short-Term Debt to Total Capital		 0.62% 0.49% 0.38% 0.37% 0.37% 0.37% 0.36% 0.35% 0.35% 0.36% 0.36%
Long-Term Debt to Total Capital		 67.63% 65.91% 65.49% 66.13% 64.01% 63.25% 61.34% 59.29% 59.05% 56.85% 55.70%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.86% 0.87% 0.85% 0.83% 0.84% 0.82% 0.83% 0.80% 0.80% 0.84% 0.82%
Common Equity to Total Capital		 30.90% 32.73% 33.28% 32.68% 34.79% 35.56% 37.47% 39.56% 39.79% 41.95% 43.12%
Debt to EBITDA		 4.44 4.11 4.08 3.93 3.69 3.46 3.26 3.29 3.26 3.12 3.14
Net Debt to EBITDA		 3.68 3.28 3.34 3.01 3.09 2.86 2.70 2.69 2.67 2.48 2.53
Long-Term Debt to EBITDA		 4.40 4.08 4.06 3.91 3.67 3.44 3.24 3.27 3.24 3.10 3.12
Debt to NOPAT		 8.59 7.86 8.05 7.80 7.26 6.15 5.64 5.63 5.56 6.27 6.28
Net Debt to NOPAT		 7.12 6.29 6.57 5.98 6.08 5.08 4.68 4.59 4.56 4.98 5.06
Long-Term Debt to NOPAT		 8.51 7.81 8.00 7.76 7.21 6.11 5.60 5.60 5.52 6.23 6.24
Altman Z-Score		 1.96 2.08 2.14 2.19 2.16 2.21 2.18 2.04 2.05 2.14 2.07
Noncontrolling Interest Sharing Ratio		 3.05% 2.81% 2.63% 2.56% 2.51% 2.41% 2.31% 2.20% 2.15% 2.09% 2.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.05 1.98 2.07 2.26 2.00 2.01 2.12 2.12 2.20 2.06 2.10
Quick Ratio		 1.40 1.37 1.40 1.58 1.31 1.36 1.40 1.40 1.44 1.38 1.39
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 55 92 253 302 -183 -23 -252 -367 -67 -69 86
Operating Cash Flow to CapEx		 677.42% 866.67% 154.55% 495.65% 587.88% 377.42% 60.47% 315.56% 274.00% 593.10% 136.00%
Free Cash Flow to Firm to Interest Expense		 1.00 1.68 4.68 6.05 -3.39 -0.48 -5.73 -8.15 -1.49 -1.65 2.25
Operating Cash Flow to Interest Expense		 3.82 5.20 0.63 2.28 3.59 4.98 0.59 3.16 3.04 8.19 1.79
Operating Cash Flow Less CapEx to Interest Expense		 3.25 4.60 0.22 1.82 2.98 3.66 -0.39 2.16 1.93 6.81 0.47
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.74 0.72 0.74 0.73 0.73 0.73 0.72 0.69 0.68 0.69 0.68
Accounts Receivable Turnover		 4.26 4.45 4.31 4.14 4.05 4.21 4.16 3.97 3.90 4.13 4.02
Inventory Turnover		 4.50 4.54 4.55 4.65 4.45 4.72 4.48 4.31 4.10 4.50 4.32
Fixed Asset Turnover		 4.47 4.33 4.37 4.46 4.46 4.42 4.42 4.31 4.19 4.13 4.10
Accounts Payable Turnover		 4.88 4.89 4.95 4.96 4.92 5.03 4.74 4.60 4.83 5.18 4.62
Days Sales Outstanding (DSO)		 85.77 81.93 84.73 88.25 90.14 86.75 87.84 91.85 93.65 88.34 90.84
Days Inventory Outstanding (DIO)		 81.03 80.38 80.15 78.47 82.05 77.40 81.55 84.62 88.95 81.05 84.47
Days Payable Outstanding (DPO)		 74.72 74.64 73.68 73.57 74.20 72.62 77.04 79.41 75.56 70.50 78.94
Cash Conversion Cycle (CCC)		 92.08 87.67 91.20 93.15 98.00 91.53 92.35 97.06 107.05 98.90 96.37
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 4,583 4,574 4,575 4,583 4,905 4,781 4,962 5,098 5,117 4,932 5,003
Invested Capital Turnover		 1.13 1.14 1.11 1.13 1.11 1.13 1.10 1.07 1.03 1.05 1.03
Increase / (Decrease) in Invested Capital		 60 25 -173 -154 322 207 387 515 212 151 41
Enterprise Value (EV)		 8,943 10,323 10,413 10,349 10,937 10,331 10,122 9,322 9,036 9,479 8,492
Market Capitalization		 5,964 7,476 7,569 7,539 7,937 7,462 7,236 6,489 6,198 6,893 5,910
Book Value per Share		 $7.24 $7.85 $7.85 $8.04 $8.69 $8.77 $9.52 $10.36 $10.52 $11.00 $11.35
Tangible Book Value per Share		 ($4.13) ($4.52) ($4.12) ($3.79) ($4.65) ($4.02) ($3.42) ($3.10) ($2.91) ($2.79) ($2.18)
Total Capital		 5,191 5,277 5,202 5,426 5,476 5,377 5,540 5,726 5,727 5,592 5,614
Total Debt		 3,543 3,504 3,427 3,608 3,525 3,421 3,418 3,415 3,402 3,199 3,147
Total Long-Term Debt		 3,511 3,478 3,407 3,588 3,505 3,401 3,398 3,395 3,382 3,179 3,127
Net Debt		 2,935 2,801 2,800 2,765 2,954 2,825 2,840 2,787 2,792 2,539 2,536
Capital Expenditures (CapEx)		 31 33 22 23 33 62 43 45 50 58 50
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 851 716 821 856 865 793 933 973 1,041 806 888
Debt-free Net Working Capital (DFNWC)		 1,460 1,419 1,448 1,699 1,436 1,389 1,511 1,601 1,651 1,466 1,499
Net Working Capital (NWC)		 1,428 1,393 1,428 1,679 1,416 1,369 1,491 1,581 1,631 1,446 1,479
Net Nonoperating Expense (NNE)		 43 44 41 35 37 47 36 38 35 22 36
Net Nonoperating Obligations (NNO)		 2,935 2,801 2,800 2,765 2,954 2,825 2,840 2,787 2,792 2,539 2,536
Total Depreciation and Amortization (D&A)		 74 71 70 70 73 74 72 76 76 79 78
Debt-free, Cash-free Net Working Capital to Revenue		 16.62% 13.81% 15.81% 16.30% 16.44% 15.03% 17.79% 18.72% 20.15% 15.75% 17.38%
Debt-free Net Working Capital to Revenue		 28.49% 27.37% 27.88% 32.36% 27.29% 26.33% 28.81% 30.80% 31.96% 28.65% 29.34%
Net Working Capital to Revenue		 27.86% 26.87% 27.49% 31.97% 26.91% 25.95% 28.43% 30.42% 31.57% 28.26% 28.95%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.33 $0.34 $0.18 $0.51 $0.46 $0.63 $0.45 $0.50 $0.51 $0.29 $0.42
Adjusted Weighted Average Basic Shares Outstanding		 220.08M 220.14M 220.65M 219.30M 218.06M 218.14M 218.56M 216.57M 213.34M 213.37M 214.02M
Adjusted Diluted Earnings per Share		 $0.33 $0.34 $0.18 $0.51 $0.46 $0.63 $0.45 $0.50 $0.51 $0.28 $0.42
Adjusted Weighted Average Diluted Shares Outstanding		 220.08M 220.14M 220.65M 219.30M 218.06M 218.14M 218.56M 216.57M 213.34M 213.37M 214.02M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 220.08M 220.14M 220.65M 219.30M 218.06M 218.14M 218.56M 216.57M 213.34M 213.37M 214.02M
Normalized Net Operating Profit after Tax (NOPAT)		 116 118 80 148 139 184 135 148 145 82 127
Normalized NOPAT Margin		 8.83% 9.06% 6.18% 10.99% 10.50% 14.06% 10.70% 11.38% 11.24% 6.47% 10.09%
Pre Tax Income Margin		 7.87% 7.86% 4.56% 11.55% 10.76% 10.60% 10.22% 10.96% 12.03% 9.43% 8.37%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.87 2.85 2.09 4.12 3.63 3.96 3.93 4.18 4.44 3.83 3.76
NOPAT to Interest Expense		 2.10 2.14 1.48 2.97 2.57 3.92 3.07 3.30 3.22 1.94 3.33
EBIT Less CapEx to Interest Expense		 2.31 2.25 1.69 3.66 3.02 2.64 2.95 3.18 3.33 2.45 2.45
NOPAT Less CapEx to Interest Expense		 1.54 1.54 1.07 2.51 1.96 2.60 2.09 2.30 2.11 0.56 2.01
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 20.93% 18.59% 0.00% 33.50% 30.53% 25.58% 0.00% 25.67% 36.18% 43.54% 0.00%

Financials Breakdown Chart

Key Financial Trends

Axalta Coating Systems (AXTA) has shown a mix of steady top-line activity and ongoing profitability across the last four quarters, supported by solid operating cash flow. Below is a data-driven look at trends from the quarterly statements provided, focusing on the key drivers for retail investors.

  • Momentum in revenue: Q3 2025 revenue was 1.288B, up meaningfully vs. Q3 2024 (about 1.132B), indicating solid volume or pricing power in the latest quarter. This places near the top end of the recent quarterly range.
  • Healthy gross margins: Gross margin remains in the mid-30% range (e.g., ~34.9% in Q3 2025 and ~33.4% in Q4 2025), showing pricing and cost structure are relatively stable despite volume shifts.
  • Consistent quarterly profitability: Net income in early 2025 quarters remained solid (Q2 2025 about $113M; Q3 2025 about $110M), suggesting ongoing profitability even as revenue fluctuates.
  • Robust operating cash flow: Net cash from continuing operating activities was strong, with approximately $114M in Q2 2025, $137M in Q3 2025, and $344M in Q4 2025, underscoring solid cash generation from core operations.
  • Positive free cash flow dynamics and liquidity: Cash balance sits around $0.6B in recent quarters, with a pattern of cash from operations exceeding capital expenditures (e.g., capex around $58M in Q4 2025), supporting debt service and potential shareholder-friendly uses.
  • Debt and asset mix: Long-term debt sits around $3.38B–$3.40B with total liabilities near $5.4B–$5.5B and total equity around $2.3B, indicating a fairly leveraged balance sheet but a sizable equity base to balance debts.
  • Asset intensity highlights impairment risk: Goodwill (~$1.7B–$1.8B) and intangible assets (~$1.1B) are material components of the asset base, which could be subject to impairment if market conditions deteriorate.
  • Quarterly earnings pressure in Q4 2025: Net income dropped to about $60M in Q4 2025 from higher levels in the prior quarters, signaling seasonality or step-up costs impacting quarterly profitability.
  • Debt load and interest burden: Persistent long-term debt around $3.3B–$3.4B paired with quarterly interest expense in the $42M–$45M range adds to cash-burn risk if revenue trends worsen.
  • Seasonality and volatility risk: Revenue and earnings per share show quarterly fluctuations (e.g., Q4 2025 softness after stronger Q3 2025), which can complicate near-term expectations for investors.
05/20/26 01:13 PM ETAI Generated. May Contain Errors.

Axalta Coating Systems Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Axalta Coating Systems' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Axalta Coating Systems' net income appears to be on an upward trend, with a most recent value of $379 million in 2025, rising from $95.80 million in 2015. The previous period was $391 million in 2024. Check out Axalta Coating Systems' forecast to explore projected trends and price targets.

Axalta Coating Systems' total operating income in 2025 was $735 million, based on the following breakdown:
  • Total Gross Profit: $1.76 billion
  • Total Operating Expenses: $1.03 billion

Over the last 10 years, Axalta Coating Systems' total revenue changed from $4.11 billion in 2015 to $5.12 billion in 2025, a change of 24.5%.

Axalta Coating Systems' total liabilities were at $5.21 billion at the end of 2025, a 1.6% decrease from 2024, and a 11.0% increase since 2015.

In the past 10 years, Axalta Coating Systems' cash and equivalents has ranged from $485 million in 2015 to $1.36 billion in 2020, and is currently $657 million as of their latest financial filing in 2025.

Over the last 10 years, Axalta Coating Systems' book value per share changed from 4.51 in 2015 to 11.00 in 2025, a change of 143.6%.


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Financial statements for NYSE:AXTA last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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