PPG Industries (PPG) Financials

$112.22 +2.14 (+1.95%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$112.26 +0.03 (+0.03%)

As of 05/27/2025 07:33 PM Eastern

Annual Income Statements for PPG Industries

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	1,116	1,270	1,026	2,878	2,118	2,486	1,341	1,594	873	1,406
Consolidated Net Income / (Loss)	1,149	1,309	1,054	2,899	2,133	2,512	1,358	1,615	895	1,427
Net Income / (Loss) Continuing Operations	1,377	1,262	1,035	1,441	1,071	1,269	1,340	1,390	565	1,332
Total Pre-Tax Income	1,852	1,690	1,355	1,815	1,362	1,661	1,693	2,005	779	1,745
Total Operating Income	1,908	1,877	1,402	1,798	1,513	1,761	1,796	2,090	878	1,831
Total Gross Profit	6,593	6,564	5,639	6,516	6,057	6,493	6,373	6,539	6,605	6,455
Total Revenue	15,845	16,242	15,614	16,802	13,834	15,146	15,374	14,748	14,270	14,241
Operating Revenue	15,845	16,242	15,614	16,802	13,834	15,146	15,374	14,748	14,270	14,241
Total Cost of Revenue	9,252	9,678	9,975	10,286	7,777	8,653	9,001	8,209	7,665	7,786
Operating Cost of Revenue	9,252	9,678	9,975	10,286	7,777	8,653	9,001	8,209	7,665	7,786
Total Operating Expenses	4,685	4,687	4,237	4,718	4,544	4,732	4,577	4,449	5,727	4,624
Selling, General & Admin Expense	3,391	3,401	3,037	3,780	3,389	3,690	3,573	3,628	3,797	3,674
Research & Development Expense	423	424	434	439	379	432	441	451	453	466
Depreciation Expense	360	360	357	389	371	375	354	331	319	314
Amortization Expense	132	154	145	172	138	136	143	129	121	132
Other Operating Expenses / (Income)	0.00	190	0.00	-83	0.00	-77	-	-150	-127	-110
Impairment Charge	146	160	231	21	93	0.00	0.00	-	-	-
Restructuring Charge	233	-2.00	33	-	174	176	66	0.00	191	136
Total Other Income / (Expense), net	-56	-187	-47	17	-151	-100	-103	-85	-99	-86
Interest Expense	241	247	167	121	138	132	118	105	125	125
Interest & Investment Income	177	140	54	26	23	32	23	20	26	39
Other Income / (Expense), net	8.00	-80	66	112	-36	-	-8.00	-	-	-
Income Tax Expense	475	428	320	374	291	392	353	615	214	413
Net Income / (Loss) Discontinued Operations	-228	47	19	19	3.00	0.00	18	-	330	95
Net Income / (Loss) Attributable to Noncontrolling Interest	33	39	28	21	15	26	17	21	22	21
Basic Earnings per Share	$4.77	$5.38	$4.34	$6.06	$4.47	$5.25	$5.50	$6.22	$3.29	$5.18
Weighted Average Basic Shares Outstanding	226.95M	235.25M	235.18M	236.00M	473.58M	235.76M	243.90M	256.10M	265.60M	271.40M
Diluted Earnings per Share	$4.75	$5.35	$4.32	$6.01	$4.45	$5.22	$5.47	$6.18	$3.27	$5.14
Weighted Average Diluted Shares Outstanding	226.95M	235.25M	235.18M	236.00M	473.58M	235.76M	243.90M	256.10M	265.60M	271.40M
Weighted Average Basic & Diluted Shares Outstanding	226.95M	235.25M	235.18M	236.00M	473.58M	235.76M	243.90M	256.10M	265.60M	271.40M
Cash Dividends to Common per Share	$2.66	$2.54	$2.42	$2.26	$2.10	$1.98	$1.86	$1.70	$1.56	$1.41

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	373	-280	468	528	400	90	426	490	264	238	329
Consolidated Net Income / (Loss)	378	-271	474	537	409	103	436	497	273	246	339
Net Income / (Loss) Continuing Operations	380	-43	474	537	409	56	436	497	273	225	339
Total Pre-Tax Income	502	10	611	693	538	134	557	646	353	293	418
Total Operating Income	515	-11	630	738	551	227	582	681	387	239	471
Total Gross Profit	1,542	755	1,912	2,060	1,866	882	1,892	2,006	1,784	645	1,647
Total Revenue	3,684	2,165	4,575	4,794	4,311	2,346	4,644	4,872	4,380	2,147	4,468
Operating Revenue	3,684	2,165	4,575	4,794	4,311	2,346	4,644	4,872	4,380	2,147	4,468
Total Cost of Revenue	2,142	1,410	2,663	2,734	2,445	1,464	2,752	2,866	2,596	1,502	2,821
Operating Cost of Revenue	2,142	1,410	2,663	2,734	2,445	1,464	2,752	2,866	2,596	1,502	2,821
Total Operating Expenses	1,027	766	1,282	1,322	1,315	655	1,310	1,325	1,397	406	1,176
Selling, General & Admin Expense	838	188	1,062	1,077	1,064	293	1,047	1,069	992	150	931
Research & Development Expense	102	98	105	111	109	102	108	110	104	94	110
Depreciation Expense	89	62	97	98	103	73	102	93	92	61	95
Amortization Expense	32	26	32	36	38	33	40	40	41	20	40
Other Operating Expenses / (Income)	-34	-	-14	-	1.00	186	13	13	-22	-	-
Total Other Income / (Expense), net	-13	21	-19	-45	-13	-93	-25	-35	-34	54	-53
Interest Expense	56	57	67	62	55	57	64	67	59	53	46
Interest & Investment Income	43	42	48	45	42	44	39	32	25	20	14
Income Tax Expense	122	53	137	156	129	78	121	149	80	68	79
Net Income / (Loss) Discontinued Operations	-2.00	-	-	-	-	-	-	-	-	-	0.00
Other Adjustments to Consolidated Net Income / (Loss)	-2.00	-	-	-	-	-	-	-	-	-	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	5.00	9.00	6.00	9.00	9.00	13	10	7.00	9.00	8.00	10
Basic Earnings per Share	$1.63	($1.19)	$2.01	$2.25	$1.70	$0.38	$1.80	$2.08	$1.12	$1.00	$1.40
Weighted Average Basic Shares Outstanding	227M	226.95M	232M	233.30M	234.50M	235.25M	235.80M	-	235.51M	235.18M	235.03M
Diluted Earnings per Share	$1.63	($1.18)	$2.00	$2.24	$1.69	$0.39	$1.79	$2.06	$1.11	$1.00	$1.39
Weighted Average Diluted Shares Outstanding	227M	226.95M	232M	233.30M	234.50M	235.25M	235.80M	-	235.51M	235.18M	235.03M
Weighted Average Basic & Diluted Shares Outstanding	227M	226.95M	232M	233.30M	234.50M	235.25M	235.80M	-	235.51M	235.18M	235.03M

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-223	410	91	-821	610	314	-534	-384	509	625
Net Cash From Operating Activities	1,420	2,411	963	1,562	2,130	2,080	1,467	1,568	1,351	1,895
Net Cash From Continuing Operating Activities	1,391	2,294	1,000	1,562	2,130	2,084	1,487	1,551	1,218	1,759
Net Income / (Loss) Continuing Operations	1,377	1,262	1,035	1,441	1,071	1,269	1,340	1,390	565	1,332
Depreciation Expense	492	514	502	561	509	511	497	460	440	446
Non-Cash Adjustments To Reconcile Net Income	298	519	139	-200	399	329	176	145	449	325
Changes in Operating Assets and Liabilities, net	-776	-1.00	-679	-240	151	-25	-526	-444	-236	-344
Net Cash From Discontinued Operating Activities	29	117	-37	-	-	-4.00	-20	17	133	136
Net Cash From Investing Activities	107	-556	-461	-2,404	-1,447	-1,009	-764	-67	436	-395
Net Cash From Continuing Investing Activities	-399	-525	-430	-2,404	-1,447	-1,009	-764	-63	472	-349
Purchase of Property, Plant & Equipment	-721	-516	-486	-371	-304	-413	-411	-360	-380	-430
Acquisitions	-31	-109	-114	-2,137	-1,169	-643	-378	-325	-349	-320
Sale of Property, Plant & Equipment	325	36	117	47	0.00	0.00	27	0.00	0.00	-
Other Investing Activities, net	28	64	53	57	26	47	3.00	26	27	27
Net Cash From Discontinued Investing Activities	506	-31	-31	-	-	-	-	-4.00	-36	-46
Net Cash From Financing Activities	-1,425	-1,550	-409	93	-59	-758	-1,205	-1,954	-1,210	-812
Net Cash From Continuing Financing Activities	-1,425	-1,550	-409	93	-59	-758	-1,205	-1,954	-1,210	-812
Repayment of Debt	-51	-1,416	-765	147	22	-562	-23	-731	-724	-883
Repurchase of Common Equity	-752	-86	-190	-210	0.00	-325	-1,721	-813	-1,050	-751
Payment of Dividends	-622	-598	-570	-536	-496	-507	-453	-434	-414	-383
Issuance of Debt	0.00	550	1,116	692	415	595	992	0.00	973	1,210
Net Cash From Discontinued Financing Activities	0.00	0.00	0.00	-	-	-	-	-	-	-
Effect of Exchange Rate Changes	-325	110	1.00	-72	6.00	1.00	-32	69	-68	-63
Cash Interest Paid	247	213	156	140	153	127	108	100	118	115
Cash Income Taxes Paid	653	488	436	491	367	348	380	648	349	383

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	560	40	120	-50	-333	291	-10	-198	327	67	98
Net Cash From Operating Activities	-18	346	769	365	-60	898	892	536	85	587	512
Net Cash From Continuing Operating Activities	-16	317	769	365	-60	781	892	536	85	624	514
Net Income / (Loss) Continuing Operations	380	-43	474	537	409	56	436	497	273	225	341
Consolidated Net Income / (Loss)	378	-	474	537	409	-	436	497	273	-	-
Net Income / (Loss) Discontinued Operations	-2.00	-	-	-	-	-	-	-	-	-	-
Depreciation Expense	121	88	129	134	141	106	142	133	133	81	135
Non-Cash Adjustments To Reconcile Net Income	21	304	16	-21	-1.00	118	40	109	252	-2.00	-
Changes in Operating Assets and Liabilities, net	-538	-32	150	-285	-609	501	274	-203	-573	317	38
Net Cash From Discontinued Operating Activities	-2.00	-	-	-	-	-	-	-	-	-	-
Net Cash From Investing Activities	-168	618	-141	-131	-239	-157	-109	-226	-64	-215	-96
Net Cash From Continuing Investing Activities	-168	112	-141	-131	-239	-126	-109	-226	-64	-184	-96
Purchase of Property, Plant & Equipment	-209	-198	-149	-118	-256	-135	-139	-122	-120	-118	-104
Acquisitions	0.00	-2.00	-2.00	-	-	-1.00	-2.00	-	-	-71	-
Other Investing Activities, net	41	-2.00	9.00	4.00	17	46	12	-50	56	31	-1.00
Net Cash From Discontinued Investing Activities	0.00	-	-	-	-	-	-	-	-	-	-
Net Cash From Financing Activities	698	-808	-432	-150	-35	-545	-739	-543	277	-353	-269
Net Cash From Continuing Financing Activities	698	-808	-432	-150	-35	-545	-739	-543	277	-353	-269
Repayment of Debt	-3.00	273	-311	-2.00	-11	-306	-486	-409	-215	-207	-109
Repurchase of Common Equity	-394	-241	-199	-163	-149	-86	-	-	0.00	-	-15
Payment of Dividends	-154	-158	-159	-152	-153	-153	-153	-146	-146	-146	-145
Issuance of Debt	1,249	-682	237	167	278	-	-100	12	638	-	-
Net Cash From Discontinued Financing Activities	0.00	-	-	-	-	-	-	-	-	-	-
Effect of Exchange Rate Changes	48	-116	-76	-134	1.00	100	-54	35	29	51	-49
Cash Interest Paid	55	49	64	68	66	32	51	57	73	37	50
Cash Income Taxes Paid	123	172	138	249	94	110	108	163	107	93	129

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	19,433	21,647	20,744	21,351	19,556	17,708	16,015	16,538	15,771	17,076
Total Current Assets	6,557	7,431	7,173	6,774	6,798	6,170	5,961	6,477	6,574	6,712
Cash & Equivalents	1,270	1,493	1,099	1,005	1,826	1,216	902	1,436	1,820	1,311
Short-Term Investments	88	75	55	67	96	57	61	55	43	144
Accounts Receivable	2,985	3,007	3,303	3,152	2,726	2,756	2,845	2,903	2,654	2,709
Inventories, net	1,846	1,934	2,272	2,171	1,735	1,710	1,783	1,730	1,514	1,659
Other Current Assets	368	922	444	379	415	431	370	353	543	889
Plant, Property, & Equipment, net	3,464	3,450	3,328	3,442	3,127	2,983	2,805	2,824	2,608	2,822
Total Noncurrent Assets	9,412	10,766	10,243	11,135	9,631	8,555	7,249	7,237	6,589	7,542
Long-Term Investments	331	254	244	274	267	258	251	268	179	367
Goodwill	5,690	6,115	6,078	6,248	5,102	4,470	4,070	3,942	3,572	3,669
Intangible Assets	1,922	2,261	2,414	2,783	2,351	2,131	1,972	2,045	1,983	2,178
Noncurrent Deferred & Refundable Income Taxes	303	272	95	197	379	220	229	305	186	711
Other Noncurrent Operating Assets	1,166	1,864	1,412	1,633	1,532	1,476	727	677	669	617
Total Liabilities & Shareholders' Equity	19,433	21,647	20,744	21,351	19,556	17,708	16,015	16,538	15,771	17,076
Total Liabilities	12,471	13,624	14,035	14,940	13,741	12,305	11,283	10,866	10,856	12,007
Total Current Liabilities	5,014	5,054	4,721	4,766	4,831	4,375	4,373	3,895	4,253	4,695
Short-Term Debt	939	306	313	9.00	578	513	651	12	629	281
Accounts Payable	3,731	4,161	4,087	4,392	3,792	3,496	3,623	3,781	3,460	3,419
Other Current Liabilities	344	587	321	365	461	366	99	102	100	883
Total Noncurrent Liabilities	7,457	8,570	9,314	10,174	8,910	7,930	6,910	6,971	6,603	7,312
Long-Term Debt	4,876	5,748	6,503	6,572	5,171	4,539	4,365	4,134	3,787	4,026
Noncurrent Deferred & Payable Income Tax Liabilities	405	500	501	646	435	452	429	442	417	460
Noncurrent Employee Benefit Liabilities	968	1,038	1,042	1,506	1,678	1,406	1,274	1,428	1,464	1,710
Other Noncurrent Operating Liabilities	1,208	1,284	1,268	1,450	1,626	1,533	842	967	935	864
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,962	8,023	6,709	6,411	5,815	5,403	4,732	5,672	4,915	5,069
Total Preferred & Common Equity	6,785	7,832	6,592	6,286	5,689	5,284	4,630	5,557	4,828	4,983
Total Common Equity	6,785	7,832	6,592	6,286	5,689	5,284	4,630	5,557	4,828	4,983
Common Stock	2,241	2,171	2,099	2,050	1,977	1,919	1,757	1,725	1,676	1,604
Retained Earnings	21,994	21,500	20,828	20,372	19,469	18,906	18,131	17,140	15,980	15,521
Treasury Stock	-14,342	-13,600	-13,525	-13,386	-13,158	-13,191	-12,958	-11,251	-10,472	-9,440
Accumulated Other Comprehensive Income / (Loss)	-3,108	-2,239	-2,810	-2,750	-2,599	-2,350	-2,300	-2,057	-2,356	-2,702
Noncontrolling Interest	177	191	117	125	126	119	102	115	87	86

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	12/31/2022	9/30/2022
Total Assets	21,140	19,433	21,858	21,729	21,867	21,647	21,501	22,216	20,744	20,868
Total Current Assets	7,901	6,557	7,913	7,784	7,671	7,431	7,552	8,068	7,173	7,490
Cash & Equivalents	1,830	1,270	1,251	1,131	1,181	1,493	1,218	1,228	1,099	1,029
Short-Term Investments	63	88	71	61	54	75	64	68	55	60
Accounts Receivable	3,429	2,985	3,653	3,845	3,581	3,007	3,612	3,821	3,303	3,541
Inventories, net	2,115	1,846	2,263	2,299	2,331	1,934	2,217	2,506	2,272	2,411
Other Current Assets	464	368	438	448	524	922	441	445	444	449
Plant, Property, & Equipment, net	3,539	3,464	3,611	3,636	3,633	3,450	3,406	3,418	3,328	3,140
Total Noncurrent Assets	9,700	9,412	10,334	10,309	10,563	10,766	10,543	10,730	10,243	10,238
Long-Term Investments	317	331	300	295	275	254	264	262	244	253
Goodwill	5,824	5,690	6,080	6,047	6,140	6,115	6,181	6,294	6,078	5,884
Intangible Assets	1,933	1,922	2,203	2,266	2,399	2,261	2,416	2,493	2,414	2,352
Noncurrent Deferred & Refundable Income Taxes	414	303	366	319	340	272	229	243	95	182
Other Noncurrent Operating Assets	1,212	1,166	1,385	1,382	1,409	1,864	1,453	1,438	1,412	1,567
Total Liabilities & Shareholders' Equity	21,140	19,433	21,858	21,729	21,867	21,647	21,501	22,216	20,744	20,868
Total Liabilities	14,048	12,471	13,886	13,784	13,741	13,624	13,566	14,424	14,035	14,724
Total Current Liabilities	5,837	5,014	4,996	5,225	4,943	5,054	5,100	5,416	4,721	4,926
Short-Term Debt	1,688	939	339	639	311	306	606	809	313	314
Accounts Payable	3,885	3,731	4,342	4,332	4,351	4,161	4,210	4,306	4,087	4,299
Other Current Liabilities	264	344	242	254	281	587	284	301	321	313
Total Noncurrent Liabilities	8,211	7,457	8,890	8,559	8,798	8,570	8,466	9,008	9,314	9,798
Long-Term Debt	5,574	4,876	6,138	5,765	5,940	5,748	5,596	6,099	6,503	6,478
Noncurrent Deferred & Payable Income Tax Liabilities	464	405	496	509	554	500	566	577	501	539
Noncurrent Employee Benefit Liabilities	970	968	1,022	1,023	1,056	1,038	1,030	1,042	1,042	1,458
Other Noncurrent Operating Liabilities	1,203	1,208	1,234	1,262	1,248	1,284	1,274	1,290	1,268	1,323
Commitments & Contingencies	0.00	0.00	-	-	-	0.00	-	-	0.00	-
Total Equity & Noncontrolling Interests	7,092	6,962	7,972	7,945	8,126	8,023	7,935	7,792	6,709	6,144
Total Preferred & Common Equity	6,927	6,785	7,788	7,767	7,941	7,832	7,751	7,614	6,592	6,034
Total Common Equity	6,927	6,785	7,788	7,767	7,941	7,832	7,751	7,614	6,592	6,034
Common Stock	2,266	2,241	2,227	2,204	2,191	2,171	2,162	2,135	2,099	2,091
Retained Earnings	22,213	21,994	22,432	22,123	21,747	21,500	21,563	21,290	20,828	20,736
Treasury Stock	-14,719	-14,342	-14,091	-13,897	-13,746	-13,600	-13,502	-13,512	-13,525	-13,527
Accumulated Other Comprehensive Income / (Loss)	-2,833	-3,108	-2,780	-2,663	-2,251	-2,239	-2,472	-2,299	-2,810	-3,266
Noncontrolling Interest	165	177	184	178	185	191	184	178	117	110

This table displays calculated financial ratios and metrics derived from PPG Industries' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.44%	4.02%	-7.07%	21.45%	-8.66%	-1.48%	4.24%	3.35%	0.20%	-3.72%
EBITDA Growth	4.20%	17.31%	-20.28%	24.42%	-12.59%	-0.57%	-10.39%	93.48%	-42.12%	1.20%
EBIT Growth	6.62%	22.41%	-23.14%	29.32%	-16.13%	-1.51%	-14.45%	138.04%	-52.05%	1.72%
NOPAT Growth	1.21%	30.88%	-24.98%	19.98%	-11.57%	-5.36%	-1.89%	127.53%	-54.44%	-5.76%
Net Income Growth	-12.22%	24.19%	-63.64%	35.91%	-15.09%	84.98%	-15.91%	80.45%	-37.28%	-33.90%
EPS Growth	-11.22%	23.84%	-28.12%	35.06%	-14.75%	-4.57%	-11.49%	88.99%	-36.38%	-31.65%
Operating Cash Flow Growth	-41.10%	150.36%	-38.35%	-26.67%	2.40%	41.79%	-6.44%	16.06%	-28.71%	24.02%
Free Cash Flow Firm Growth	103.01%	115.91%	169.94%	-214.18%	-22.68%	0.94%	27.40%	-21.78%	-31.40%	367.69%
Invested Capital Growth	-9.52%	1.06%	4.13%	24.22%	5.05%	4.57%	5.89%	9.60%	-4.08%	0.17%
Revenue Q/Q Growth	-12.12%	-10.17%	-11.57%	2.65%	0.62%	0.18%	-0.24%	2.77%	3.86%	-2.63%
EBITDA Q/Q Growth	-12.79%	-7.37%	3.96%	-5.00%	0.10%	1.97%	-1.00%	11.65%	-11.72%	1.25%
EBIT Q/Q Growth	-13.19%	-8.03%	10.79%	-7.46%	0.75%	2.15%	-1.65%	13.90%	-17.79%	1.72%
NOPAT Q/Q Growth	-14.15%	-7.37%	-0.16%	-9.86%	4.78%	2.25%	9.49%	4.58%	-20.42%	-4.95%
Net Income Q/Q Growth	-24.56%	-9.85%	-58.57%	15.96%	-8.81%	104.23%	8.38%	-10.43%	2.87%	19.21%
EPS Q/Q Growth	-24.84%	-10.23%	-4.42%	1.01%	-1.98%	2.96%	9.62%	-11.84%	1.87%	17.89%
Operating Cash Flow Q/Q Growth	-27.99%	14.81%	15.75%	-24.61%	7.96%	0.43%	21.95%	-2.43%	-19.82%	28.30%
Free Cash Flow Firm Q/Q Growth	63.59%	146.74%	-46.79%	43.06%	-56.69%	9.71%	28.91%	-55.79%	265.07%	501.77%
Invested Capital Q/Q Growth	-12.44%	-2.67%	4.60%	0.14%	9.46%	-2.31%	-1.80%	-0.82%	-12.68%	-2.73%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.61%	40.41%	36.12%	38.78%	43.78%	42.87%	41.45%	44.34%	46.29%	45.33%
EBITDA Margin	15.20%	14.23%	12.62%	14.71%	14.36%	15.00%	14.86%	17.29%	9.24%	15.99%
Operating Margin	12.04%	11.56%	8.98%	10.70%	10.94%	11.63%	11.68%	14.17%	6.15%	12.86%
EBIT Margin	12.09%	11.06%	9.40%	11.37%	10.68%	11.63%	11.63%	14.17%	6.15%	12.86%
Profit (Net Income) Margin	7.25%	8.06%	6.75%	17.25%	15.42%	16.59%	8.83%	10.95%	6.27%	10.02%
Tax Burden Percent	62.04%	77.46%	77.79%	159.72%	156.61%	151.23%	80.21%	80.55%	114.89%	81.78%
Interest Burden Percent	96.66%	94.05%	92.30%	95.03%	92.21%	94.32%	94.69%	95.93%	88.72%	95.30%
Effective Tax Rate	25.65%	25.33%	23.62%	20.61%	21.37%	23.60%	20.85%	30.67%	27.47%	23.67%
Return on Invested Capital (ROIC)	12.15%	11.50%	9.01%	13.58%	13.00%	15.41%	17.13%	18.80%	8.48%	18.25%
ROIC Less NNEP Spread (ROIC-NNEP)	5.70%	9.58%	8.69%	47.04%	39.65%	47.27%	15.08%	25.69%	18.74%	19.42%
Return on Net Nonoperating Assets (RNNOA)	3.18%	6.27%	7.06%	33.84%	25.02%	34.16%	8.97%	11.71%	9.45%	9.37%
Return on Equity (ROE)	15.34%	17.77%	16.07%	47.42%	38.03%	49.57%	26.11%	30.51%	17.93%	27.62%
Cash Return on Invested Capital (CROIC)	22.15%	10.45%	4.96%	-8.03%	8.07%	10.95%	11.41%	9.64%	12.65%	18.08%
Operating Return on Assets (OROA)	9.33%	8.48%	6.97%	9.34%	7.93%	10.44%	10.99%	12.94%	5.35%	10.58%
Return on Assets (ROA)	5.59%	6.18%	5.01%	14.17%	11.45%	14.90%	8.34%	10.00%	5.45%	8.25%
Return on Common Equity (ROCE)	14.96%	17.40%	15.77%	46.45%	37.20%	48.49%	25.56%	29.93%	17.62%	27.16%
Return on Equity Simple (ROE_SIMPLE)	16.93%	16.71%	15.99%	46.12%	37.49%	47.54%	29.33%	29.06%	18.54%	28.64%
Net Operating Profit after Tax (NOPAT)	1,419	1,402	1,071	1,428	1,190	1,345	1,422	1,449	637	1,398
NOPAT Margin	8.95%	8.63%	6.86%	8.50%	8.60%	8.88%	9.25%	9.82%	4.46%	9.81%
Net Nonoperating Expense Percent (NNEP)	6.45%	1.92%	0.32%	-33.46%	-26.64%	-31.86%	2.05%	-6.88%	-10.26%	-1.18%
Return On Investment Capital (ROIC_SIMPLE)	11.10%	9.96%	7.92%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	58.39%	59.59%	63.89%	61.22%	56.22%	57.13%	58.55%	55.66%	53.71%	54.67%
SG&A Expenses to Revenue	21.40%	20.94%	19.45%	22.50%	24.50%	24.36%	23.24%	24.60%	26.61%	25.80%
R&D to Revenue	2.67%	2.61%	2.78%	2.61%	2.74%	2.85%	2.87%	3.06%	3.17%	3.27%
Operating Expenses to Revenue	29.57%	28.86%	27.14%	28.08%	32.85%	31.24%	29.77%	30.17%	40.13%	32.47%
Earnings before Interest and Taxes (EBIT)	1,916	1,797	1,468	1,910	1,477	1,761	1,788	2,090	878	1,831
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,408	2,311	1,970	2,471	1,986	2,272	2,285	2,550	1,318	2,277
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.08	4.41	4.31	6.24	5.69	5.57	4.85	4.82	4.60	4.66
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
Price to Revenue (P/Rev)	1.75	2.13	1.82	2.34	2.34	1.94	1.46	1.82	1.55	1.63
Price to Earnings (P/E)	24.83	27.20	27.69	13.64	15.27	11.83	16.76	16.80	25.42	16.53
Dividend Yield	2.23%	1.73%	2.00%	1.37%	1.53%	1.59%	1.99%	1.62%	1.86%	1.64%
Earnings Yield	4.03%	3.68%	3.61%	7.33%	6.55%	8.45%	5.97%	5.95%	3.93%	6.05%
Enterprise Value to Invested Capital (EV/IC)	2.89	3.18	2.80	3.83	3.84	3.70	3.09	3.63	3.35	3.37
Enterprise Value to Revenue (EV/Rev)	2.02	2.40	2.17	2.66	2.60	2.18	1.72	1.99	1.73	1.81
Enterprise Value to EBITDA (EV/EBITDA)	13.30	16.86	17.23	18.05	18.14	14.55	11.54	11.49	18.70	11.33
Enterprise Value to EBIT (EV/EBIT)	16.71	21.68	23.12	23.36	24.40	18.77	14.75	14.01	28.08	14.09
Enterprise Value to NOPAT (EV/NOPAT)	22.57	27.80	31.70	31.25	30.29	24.57	18.56	20.21	38.71	18.46
Enterprise Value to Operating Cash Flow (EV/OCF)	22.55	16.16	35.25	28.56	16.92	15.89	17.98	18.68	18.25	13.62
Enterprise Value to Free Cash Flow (EV/FCFF)	12.38	30.59	57.54	0.00	48.78	34.60	27.87	39.42	25.95	18.64
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.84	0.75	1.02	1.03	0.99	0.94	1.06	0.73	0.90	0.85
Long-Term Debt to Equity	0.70	0.72	0.97	1.03	0.89	0.84	0.92	0.73	0.77	0.79
Financial Leverage	0.56	0.66	0.81	0.72	0.63	0.72	0.59	0.46	0.50	0.48
Leverage Ratio	2.74	2.88	3.21	3.35	3.32	3.33	3.13	3.05	3.29	3.35
Compound Leverage Factor	2.65	2.71	2.96	3.18	3.06	3.14	2.96	2.93	2.92	3.19
Debt to Total Capital	45.51%	43.01%	50.40%	50.65%	49.71%	48.32%	51.46%	42.23%	47.33%	45.94%
Short-Term Debt to Total Capital	7.35%	2.17%	2.31%	0.07%	5.00%	4.91%	6.68%	0.12%	6.74%	3.00%
Long-Term Debt to Total Capital	38.16%	40.83%	48.08%	50.59%	44.72%	43.41%	44.78%	42.11%	40.59%	42.94%
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%
Noncontrolling Interests to Total Capital	1.39%	1.36%	0.87%	0.96%	1.09%	1.14%	1.05%	1.17%	0.93%	0.92%
Common Equity to Total Capital	53.10%	55.64%	48.74%	48.38%	49.20%	50.54%	47.50%	56.60%	51.74%	53.15%
Debt to EBITDA	2.41	2.62	3.46	2.66	2.89	2.22	2.20	1.63	3.35	1.89
Net Debt to EBITDA	1.71	1.83	2.75	2.12	1.79	1.55	1.66	0.94	1.80	1.09
Long-Term Debt to EBITDA	2.02	2.49	3.30	2.66	2.60	2.00	1.91	1.62	2.87	1.77
Debt to NOPAT	4.10	4.32	6.36	4.61	4.83	3.76	3.53	2.86	6.93	3.08
Net Debt to NOPAT	2.91	3.02	5.06	3.67	2.99	2.62	2.67	1.65	3.73	1.78
Long-Term Debt to NOPAT	3.44	4.10	6.07	4.60	4.35	3.37	3.07	2.85	5.95	2.88
Altman Z-Score	4.15	4.07	3.75	4.11	3.88	4.23	4.23	4.43	3.91	3.76
Noncontrolling Interest Sharing Ratio	2.46%	2.09%	1.84%	2.05%	2.18%	2.18%	2.09%	1.91%	1.73%	1.65%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.31	1.47	1.52	1.42	1.41	1.41	1.36	1.66	1.55	1.43
Quick Ratio	0.87	0.91	0.94	0.89	0.96	0.92	0.87	1.13	1.06	0.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,586	1,274	590	-843	739	955	947	743	950	1,385
Operating Cash Flow to CapEx	358.59%	502.29%	260.98%	482.10%	700.66%	503.63%	382.03%	435.56%	355.53%	440.70%
Free Cash Flow to Firm to Interest Expense	10.73	5.16	3.53	-6.97	5.35	7.24	8.02	7.08	7.60	11.08
Operating Cash Flow to Interest Expense	5.89	9.76	5.77	12.91	15.43	15.76	12.43	14.93	10.81	15.16
Operating Cash Flow Less CapEx to Interest Expense	4.25	7.82	3.56	10.23	13.23	12.63	9.18	11.50	7.77	11.72
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.77	0.77	0.74	0.82	0.74	0.90	0.94	0.91	0.87	0.82
Accounts Receivable Turnover	5.29	5.15	4.84	5.72	5.05	5.41	5.35	5.31	5.32	5.16
Inventory Turnover	4.90	4.60	4.49	5.27	4.51	4.95	5.12	5.06	4.83	4.47
Fixed Asset Turnover	4.58	4.79	4.61	5.12	4.53	5.23	5.46	5.43	5.26	4.82
Accounts Payable Turnover	2.34	2.35	2.35	2.51	2.13	2.43	2.43	2.27	2.23	2.24
Days Sales Outstanding (DSO)	69.01	70.90	75.45	63.85	72.32	67.49	68.23	68.77	68.59	70.79
Days Inventory Outstanding (DIO)	74.56	79.31	81.29	69.30	80.84	73.67	71.23	72.12	75.55	81.66
Days Payable Outstanding (DPO)	155.67	155.53	155.13	145.21	171.02	150.15	150.12	160.98	163.79	163.28
Cash Conversion Cycle (CCC)	-12.10	-5.32	1.61	-12.06	-17.86	-8.99	-10.66	-20.09	-19.65	-10.83
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,088	12,255	12,127	11,646	9,375	8,924	8,534	8,059	7,353	7,666
Invested Capital Turnover	1.36	1.33	1.31	1.60	1.51	1.74	1.85	1.91	1.90	1.86
Increase / (Decrease) in Invested Capital	-1,167	128	481	2,271	451	390	475	706	-313	13
Enterprise Value (EV)	32,015	38,966	33,944	44,609	36,036	33,061	26,378	29,289	24,650	25,807
Market Capitalization	27,712	34,543	28,409	39,249	32,350	29,421	22,474	26,787	22,189	23,236
Book Value per Share	$29.25	$33.21	$28.05	$26.48	$24.09	$22.35	$19.30	$21.84	$18.29	$18.51
Tangible Book Value per Share	($3.56)	($2.31)	($8.08)	($11.56)	($7.47)	($5.57)	($5.89)	($1.69)	($2.75)	($3.21)
Total Capital	12,777	14,077	13,525	12,992	11,564	10,455	9,748	9,818	9,331	9,376
Total Debt	5,815	6,054	6,816	6,581	5,749	5,052	5,016	4,146	4,416	4,307
Total Long-Term Debt	4,876	5,748	6,503	6,572	5,171	4,539	4,365	4,134	3,787	4,026
Net Debt	4,126	4,232	5,418	5,235	3,560	3,521	3,802	2,387	2,374	2,485
Capital Expenditures (CapEx)	396	480	369	324	304	413	384	360	380	430
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,124	1,115	1,611	945	623	1,035	1,276	1,103	1,087	843
Debt-free Net Working Capital (DFNWC)	2,482	2,683	2,765	2,017	2,545	2,308	2,239	2,594	2,950	2,298
Net Working Capital (NWC)	1,543	2,377	2,452	2,008	1,967	1,795	1,588	2,582	2,321	2,017
Net Nonoperating Expense (NNE)	270	93	17	-1,471	-943	-1,167	64	-166	-258	-29
Net Nonoperating Obligations (NNO)	4,126	4,232	5,418	5,235	3,560	3,521	3,802	2,387	2,438	2,597
Total Depreciation and Amortization (D&A)	492	514	502	561	509	511	497	460	440	446
Debt-free, Cash-free Net Working Capital to Revenue	7.09%	6.86%	10.32%	5.62%	4.50%	6.83%	8.30%	7.48%	7.62%	5.92%
Debt-free Net Working Capital to Revenue	15.66%	16.52%	17.71%	12.00%	18.40%	15.24%	14.56%	17.59%	20.67%	16.14%
Net Working Capital to Revenue	9.74%	14.63%	15.70%	11.95%	14.22%	11.85%	10.33%	17.51%	16.26%	14.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.77	$5.38	$4.34	$6.06	$4.47	$5.25	$5.50	$6.21	$3.30	$5.18
Adjusted Weighted Average Basic Shares Outstanding	226.95M	235.25M	235.18M	236.00M	473.58M	235.76M	235.90M	249.88M	257.09M	266.77M
Adjusted Diluted Earnings per Share	$4.75	$5.35	$4.32	$6.01	$4.45	$5.22	$5.47	$6.17	$3.28	$5.14
Adjusted Weighted Average Diluted Shares Outstanding	226.95M	235.25M	235.18M	236.00M	473.58M	235.76M	235.90M	249.88M	257.09M	266.77M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	226.95M	235.25M	235.18M	236.00M	473.58M	235.76M	235.90M	249.88M	257.09M	266.77M
Normalized Net Operating Profit after Tax (NOPAT)	1,700	1,520	1,273	1,444	1,400	1,480	1,474	1,491	1,481	1,511
Normalized NOPAT Margin	10.73%	9.36%	8.15%	8.60%	10.12%	9.77%	9.59%	10.11%	10.38%	10.61%
Pre Tax Income Margin	11.69%	10.41%	8.68%	10.80%	9.85%	10.97%	11.01%	13.60%	5.46%	12.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.95	7.28	8.79	15.79	10.70	13.34	15.15	19.90	7.02	14.65
NOPAT to Interest Expense	5.89	5.67	6.41	11.80	8.62	10.19	12.05	13.80	5.09	11.18
EBIT Less CapEx to Interest Expense	6.31	5.33	6.58	13.11	8.50	10.21	11.90	16.48	3.98	11.21
NOPAT Less CapEx to Interest Expense	4.24	3.73	4.20	9.12	6.42	7.06	8.79	10.37	2.05	7.74
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	54.13%	45.68%	54.08%	18.49%	23.25%	20.18%	33.36%	26.87%	46.26%	26.84%
Augmented Payout Ratio	119.58%	52.25%	72.11%	25.73%	23.25%	33.12%	160.09%	77.21%	163.58%	79.47%

This table displays calculated financial ratios and metrics derived from PPG Industries' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.29%	-7.72%	-1.49%	-1.60%	-1.58%	9.27%	3.94%	3.86%	1.67%	-48.76%	2.20%
EBITDA Growth	-7.15%	-76.88%	4.83%	3.69%	33.08%	4.06%	23.76%	10.90%	113.11%	-6.43%	-4.10%
EBIT Growth	-7.21%	-104.85%	8.25%	4.26%	42.38%	-5.02%	29.33%	14.84%	290.91%	23.83%	-3.02%
NOPAT Growth	-8.04%	-50.14%	7.28%	9.15%	39.96%	-48.31%	19.26%	11.62%	925.25%	-3.54%	5.23%
Net Income Growth	-7.58%	-363.11%	8.72%	8.05%	49.82%	-58.13%	28.61%	11.44%	1,086.96%	-85.83%	-1.74%
EPS Growth	-3.55%	-402.56%	11.73%	8.74%	52.25%	-61.00%	28.78%	11.35%	1,287.50%	-16.67%	-2.80%
Operating Cash Flow Growth	70.00%	-61.47%	-13.79%	-31.90%	-170.59%	52.98%	74.22%	219.05%	127.96%	28.73%	-2.48%
Free Cash Flow Firm Growth	59.22%	3,764.78%	176.97%	-197.05%	205.66%	88.86%	-229.53%	3,816.22%	71.79%	85.70%	115.47%
Invested Capital Growth	-5.62%	-9.52%	0.57%	0.00%	-2.09%	1.06%	8.60%	0.00%	7.85%	4.13%	-0.31%
Revenue Q/Q Growth	70.16%	-52.68%	-4.57%	11.20%	0.00%	-49.48%	-4.68%	11.23%	4.66%	-51.95%	-4.75%
EBITDA Q/Q Growth	725.97%	-89.86%	-10.07%	21.97%	0.00%	-54.01%	-11.06%	56.54%	18.99%	-45.30%	-20.30%
EBIT Q/Q Growth	4,781.82%	-101.75%	-11.27%	28.86%	0.00%	-61.00%	-14.54%	75.97%	27.30%	-46.89%	-24.11%
NOPAT Q/Q Growth	724.19%	-90.32%	-14.54%	36.52%	0.00%	-79.18%	-13.05%	75.05%	27.67%	-51.95%	-18.62%
Net Income Q/Q Growth	239.48%	-157.17%	-11.73%	31.30%	0.00%	-76.38%	-12.27%	82.05%	10.98%	-27.43%	-23.99%
EPS Q/Q Growth	238.14%	-159.00%	-10.71%	32.54%	0.00%	-78.21%	-13.11%	85.59%	11.00%	-28.06%	-24.86%
Operating Cash Flow Q/Q Growth	-105.20%	-55.01%	110.68%	708.33%	-106.68%	0.67%	66.42%	530.59%	-85.52%	14.65%	204.76%
Free Cash Flow Firm Q/Q Growth	-8.36%	191.38%	103.39%	-1,871.21%	0.00%	93.88%	-104.28%	2,028.40%	-166.34%	-171.17%	29.26%
Invested Capital Q/Q Growth	9.52%	-12.44%	-1.55%	-0.04%	0.00%	-2.67%	0.00%	-100.00%	8.37%	4.60%	-4.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.86%	34.87%	41.79%	42.97%	43.28%	37.60%	40.74%	41.17%	40.73%	30.04%	36.86%
EBITDA Margin	17.26%	3.56%	16.59%	17.61%	16.05%	14.19%	15.59%	16.71%	11.87%	14.90%	13.09%
Operating Margin	13.98%	-0.51%	13.77%	15.39%	12.78%	9.68%	12.53%	13.98%	8.84%	11.13%	10.54%
EBIT Margin	13.98%	-0.51%	13.77%	14.81%	12.78%	9.68%	12.53%	13.98%	8.84%	11.13%	10.07%
Profit (Net Income) Margin	10.26%	-12.52%	10.36%	11.20%	9.49%	4.39%	9.39%	10.20%	6.23%	11.46%	7.59%
Tax Burden Percent	75.30%	-2,710.00%	77.58%	77.49%	76.02%	76.87%	78.28%	76.94%	77.34%	83.96%	81.10%
Interest Burden Percent	97.48%	-90.91%	96.98%	97.61%	97.64%	59.03%	95.70%	94.86%	91.21%	122.59%	92.89%
Effective Tax Rate	24.30%	530.00%	22.42%	22.51%	23.98%	58.21%	21.72%	23.07%	22.66%	23.21%	18.90%
Return on Invested Capital (ROIC)	13.27%	2.97%	15.25%	33.57%	13.58%	5.39%	14.67%	0.00%	9.56%	11.23%	13.00%
ROIC Less NNEP Spread (ROIC-NNEP)	13.03%	-4.65%	14.94%	32.15%	13.39%	5.56%	14.28%	0.00%	9.09%	12.40%	12.19%
Return on Net Nonoperating Assets (RNNOA)	8.38%	-2.59%	8.78%	19.90%	8.49%	3.64%	10.25%	0.00%	7.21%	10.07%	10.36%
Return on Equity (ROE)	21.65%	0.37%	24.03%	53.47%	22.07%	9.03%	24.92%	0.00%	16.78%	21.30%	23.36%
Cash Return on Invested Capital (CROIC)	16.85%	22.15%	12.52%	-174.82%	14.20%	10.45%	4.27%	0.00%	3.38%	4.96%	9.55%
Operating Return on Assets (OROA)	10.19%	-0.39%	11.45%	12.34%	10.54%	7.41%	10.70%	0.00%	7.10%	8.26%	8.32%
Return on Assets (ROA)	7.48%	-9.66%	8.62%	9.33%	7.82%	3.36%	8.01%	0.00%	5.01%	8.50%	6.27%
Return on Common Equity (ROCE)	21.15%	0.36%	23.48%	52.27%	21.56%	8.84%	24.40%	0.00%	16.43%	20.91%	22.87%
Return on Equity Simple (ROE_SIMPLE)	16.14%	0.00%	19.56%	19.12%	18.20%	0.00%	18.73%	0.00%	17.13%	0.00%	42.16%
Net Operating Profit after Tax (NOPAT)	390	47	489	572	419	95	456	524	299	184	382
NOPAT Margin	10.58%	2.18%	10.68%	11.93%	9.72%	4.04%	9.81%	10.75%	6.83%	8.55%	8.55%
Net Nonoperating Expense Percent (NNEP)	0.24%	7.62%	0.32%	1.42%	0.20%	-0.17%	0.39%	0.00%	0.47%	-1.17%	0.81%
Return On Investment Capital (ROIC_SIMPLE)	2.72%	0.37%	-	-	-	0.67%	-	-	-	1.36%	-
Cost of Revenue to Revenue	58.14%	65.13%	58.21%	57.03%	56.72%	62.40%	59.26%	58.83%	59.27%	69.96%	63.14%
SG&A Expenses to Revenue	22.75%	8.68%	23.21%	22.47%	24.68%	12.49%	22.55%	21.94%	22.65%	6.99%	20.84%
R&D to Revenue	2.77%	4.53%	2.30%	2.32%	2.53%	4.35%	2.33%	2.26%	2.37%	4.38%	2.46%
Operating Expenses to Revenue	27.88%	35.38%	28.02%	27.58%	30.50%	27.92%	28.21%	27.20%	31.90%	18.91%	26.32%
Earnings before Interest and Taxes (EBIT)	515	-11	630	710	551	227	582	681	387	239	450
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	636	77	759	844	692	333	724	814	520	320	585
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.58	4.08	3.97	3.80	4.30	4.41	3.86	0.00	4.05	4.31	4.21
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)	1.58	1.75	1.71	1.63	1.88	2.13	1.66	1.91	1.74	1.82	1.44
Price to Earnings (P/E)	22.79	24.83	20.80	20.44	24.30	27.20	21.13	25.93	24.24	27.69	10.10
Dividend Yield	2.46%	2.23%	1.99%	2.07%	1.77%	1.73%	1.97%	1.70%	1.87%	2.00%	2.21%
Earnings Yield	4.39%	4.03%	4.81%	4.89%	4.12%	3.68%	4.73%	3.86%	4.13%	3.61%	9.90%
Enterprise Value to Invested Capital (EV/IC)	2.47	2.89	2.84	2.69	3.04	3.18	2.76	0.00	2.77	2.80	2.67
Enterprise Value to Revenue (EV/Rev)	1.92	2.02	1.99	1.91	2.15	2.40	1.92	0.00	2.05	2.17	1.75
Enterprise Value to EBITDA (EV/EBITDA)	12.78	13.30	13.02	12.70	14.65	16.86	13.95	0.00	15.83	17.23	16.33
Enterprise Value to EBIT (EV/EBIT)	16.08	16.71	16.29	16.03	18.60	21.68	17.81	0.00	20.72	23.12	23.36
Enterprise Value to NOPAT (EV/NOPAT)	21.69	22.57	21.75	21.38	24.88	27.80	23.00	0.00	26.27	31.70	28.86
Enterprise Value to Operating Cash Flow (EV/OCF)	20.54	22.55	18.23	16.52	17.25	16.16	16.57	0.00	26.89	35.25	37.20
Enterprise Value to Free Cash Flow (EV/FCFF)	14.25	12.38	22.74	0.00	21.17	30.59	67.41	0.00	84.94	57.54	27.92
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.02	0.84	0.81	0.81	0.77	0.75	0.78	0.00	0.89	1.02	1.11
Long-Term Debt to Equity	0.79	0.70	0.77	0.73	0.73	0.72	0.71	0.00	0.78	0.97	1.05
Financial Leverage	0.64	0.56	0.59	0.62	0.63	0.66	0.72	0.00	0.79	0.81	0.85
Leverage Ratio	2.83	2.74	2.73	2.73	2.77	2.88	3.01	0.00	3.12	3.21	3.41
Compound Leverage Factor	2.75	-2.49	2.64	2.67	2.70	1.70	2.88	0.00	2.85	3.93	3.16
Debt to Total Capital	50.59%	45.51%	44.83%	44.63%	43.48%	43.01%	43.87%	0.00%	46.99%	50.40%	52.50%
Short-Term Debt to Total Capital	11.76%	7.35%	2.35%	4.45%	2.16%	2.17%	4.29%	0.00%	5.50%	2.31%	2.43%
Long-Term Debt to Total Capital	38.83%	38.16%	42.48%	40.18%	41.32%	40.83%	39.58%	0.00%	41.49%	48.08%	50.08%
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	1.15%	1.39%	1.27%	1.24%	1.29%	1.36%	1.30%	0.00%	1.21%	0.87%	0.85%
Common Equity to Total Capital	48.26%	53.10%	53.90%	54.13%	55.23%	55.64%	54.83%	0.00%	51.80%	48.74%	46.65%
Debt to EBITDA	3.09	2.41	2.35	2.35	2.34	2.62	2.49	0.00	3.01	3.46	3.58
Net Debt to EBITDA	2.15	1.71	1.76	1.80	1.78	1.83	1.87	0.00	2.33	2.75	2.88
Long-Term Debt to EBITDA	2.37	2.02	2.22	2.11	2.23	2.49	2.24	0.00	2.66	3.30	3.42
Debt to NOPAT	5.25	4.10	3.92	3.95	3.98	4.32	4.10	0.00	4.99	6.36	6.33
Net Debt to NOPAT	3.65	2.91	2.94	3.04	3.02	3.02	3.08	0.00	3.87	5.06	5.08
Long-Term Debt to NOPAT	4.03	3.44	3.71	3.56	3.78	4.10	3.70	0.00	4.41	6.07	6.04
Altman Z-Score	3.47	3.83	3.85	3.79	3.95	3.83	3.80	0.00	3.62	3.55	3.49
Noncontrolling Interest Sharing Ratio	2.30%	2.46%	2.31%	2.24%	2.28%	2.09%	2.09%	0.00%	2.07%	1.84%	2.13%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.35	1.31	1.58	1.49	1.55	1.47	1.48	0.00	1.49	1.52	1.52
Quick Ratio	0.91	0.87	1.00	0.96	0.97	0.91	0.96	0.00	0.94	0.94	0.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,113	1,214	417	-12,290	694	-33	-541	12,664	-657	-297	418
Operating Cash Flow to CapEx	-8.61%	0.00%	516.11%	309.32%	-23.44%	724.19%	641.73%	439.34%	70.83%	501.71%	492.31%
Free Cash Flow to Firm to Interest Expense	19.87	21.30	6.22	-198.23	12.62	-0.58	-8.46	189.01	-11.13	-5.61	9.09
Operating Cash Flow to Interest Expense	-0.32	6.07	11.48	5.89	-1.09	15.75	13.94	8.00	1.44	11.08	11.13
Operating Cash Flow Less CapEx to Interest Expense	-4.05	8.30	9.25	3.98	-5.75	13.58	11.77	6.18	-0.59	8.87	8.87
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.77	0.83	0.83	0.82	0.77	0.85	0.00	0.80	0.74	0.83
Accounts Receivable Turnover	4.47	5.29	4.96	4.71	4.91	5.15	5.06	0.00	4.74	4.84	5.10
Inventory Turnover	4.13	4.90	4.63	4.55	4.38	4.60	4.68	0.00	4.45	4.49	4.79
Fixed Asset Turnover	4.37	4.58	5.14	4.98	5.16	4.79	5.52	0.00	5.26	4.61	5.44
Accounts Payable Turnover	2.23	2.34	2.43	2.42	2.45	2.35	2.55	0.00	2.50	2.35	2.57
Days Sales Outstanding (DSO)	81.59	69.01	73.54	77.54	74.32	70.90	72.20	0.00	77.02	75.45	71.56
Days Inventory Outstanding (DIO)	88.30	74.56	78.82	80.21	83.33	79.31	77.94	0.00	82.09	81.29	76.17
Days Payable Outstanding (DPO)	163.57	155.67	150.46	151.14	149.13	155.53	143.30	0.00	146.05	155.13	141.83
Cash Conversion Cycle (CCC)	6.32	-12.10	1.89	6.61	8.51	-5.32	6.84	0.00	13.06	1.61	5.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	12,144	11,088	12,663	12,862	12,867	12,255	12,591	0.00	13,142	12,127	11,594
Invested Capital Turnover	1.25	1.36	1.43	2.81	1.40	1.33	1.50	0.00	1.40	1.31	1.52
Increase / (Decrease) in Invested Capital	-723	-1,167	72	12,862	-275	128	997	-12,140	956	481	-36
Enterprise Value (EV)	30,034	32,015	35,942	34,616	39,093	38,966	34,796	0.00	36,361	33,944	30,952
Market Capitalization	24,817	27,712	30,903	29,521	34,167	34,543	29,956	34,251	30,833	28,409	25,392
Book Value per Share	$30.52	$29.25	$33.38	$33.12	$33.86	$33.21	$32.91	$0.00	$32.38	$28.05	$25.68
Tangible Book Value per Share	($3.66)	($3.56)	($2.12)	($2.33)	($2.55)	($2.31)	($3.59)	$0.00	($4.99)	($8.08)	($9.37)
Total Capital	14,354	12,777	14,449	14,349	14,377	14,077	14,137	0.00	14,700	13,525	12,936
Total Debt	7,262	5,815	6,477	6,404	6,251	6,054	6,202	0.00	6,908	6,816	6,792
Total Long-Term Debt	5,574	4,876	6,138	5,765	5,940	5,748	5,596	0.00	6,099	6,503	6,478
Net Debt	5,052	4,126	4,855	4,917	4,741	4,232	4,656	0.00	5,350	5,418	5,450
Capital Expenditures (CapEx)	209	-127	149	118	256	124	139	122	120	117	104
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,859	1,124	1,934	2,006	1,804	1,115	1,776	0.00	2,165	1,611	1,789
Debt-free Net Working Capital (DFNWC)	3,752	2,482	3,256	3,198	3,039	2,683	3,058	0.00	3,461	2,765	2,878
Net Working Capital (NWC)	2,064	1,543	2,917	2,559	2,728	2,377	2,452	0.00	2,652	2,452	2,564
Net Nonoperating Expense (NNE)	12	318	15	35	9.88	-8.13	20	27	26	-62	43
Net Nonoperating Obligations (NNO)	5,052	4,126	4,691	4,917	4,741	4,232	4,656	0.00	5,350	5,418	5,450
Total Depreciation and Amortization (D&A)	121	88	129	134	141	106	142	133	133	81	135
Debt-free, Cash-free Net Working Capital to Revenue	11.86%	7.09%	10.73%	11.08%	9.92%	6.86%	9.82%	0.00%	12.22%	10.32%	10.13%
Debt-free Net Working Capital to Revenue	23.93%	15.66%	18.06%	17.67%	16.72%	16.52%	16.91%	0.00%	19.53%	17.71%	16.30%
Net Working Capital to Revenue	13.16%	9.74%	16.18%	14.14%	15.01%	14.63%	13.56%	0.00%	14.96%	15.70%	14.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.63	($1.19)	$2.01	$2.25	$1.70	$0.38	$1.80	$0.00	$0.00	$1.00	$1.40
Adjusted Weighted Average Basic Shares Outstanding	227M	226.95M	232M	233.30M	234.50M	235.25M	235.80M	0.00	0.00	235.18M	235.03M
Adjusted Diluted Earnings per Share	$1.63	($1.18)	$2.00	$2.24	$1.69	$0.39	$1.79	$0.00	$0.00	$1.00	$1.39
Adjusted Weighted Average Diluted Shares Outstanding	227M	226.95M	232M	233.30M	234.50M	235.25M	235.80M	0.00	0.00	235.18M	235.03M
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	227M	226.95M	232M	233.30M	234.50M	235.25M	235.80M	0.00	0.00	235.18M	235.03M
Normalized Net Operating Profit after Tax (NOPAT)	390	-7.70	489	572	419	159	456	524	446	184	382
Normalized NOPAT Margin	10.58%	-0.36%	10.68%	11.93%	9.72%	6.77%	9.81%	10.75%	10.19%	8.58%	8.55%
Pre Tax Income Margin	13.63%	0.46%	13.36%	14.46%	12.48%	5.71%	11.99%	13.26%	8.06%	13.65%	9.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.20	-0.19	9.40	11.45	10.02	3.98	9.09	10.16	6.56	4.51	9.78
NOPAT to Interest Expense	6.96	0.83	7.29	9.22	7.62	1.66	7.12	7.82	5.07	3.46	8.30
EBIT Less CapEx to Interest Expense	5.46	2.04	7.18	9.55	5.36	1.81	6.92	8.34	4.53	2.30	7.52
NOPAT Less CapEx to Interest Expense	3.23	3.06	5.07	7.32	2.96	-0.51	4.95	6.00	3.04	1.26	6.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	55.72%	54.13%	40.51%	41.14%	41.87%	45.68%	40.70%	43.03%	44.25%	54.08%	22.17%
Augmented Payout Ratio	144.90%	119.58%	79.71%	67.95%	58.13%	52.25%	40.70%	44.13%	55.75%	72.11%	37.89%

Frequently Asked Questions About PPG Industries' Financials

When does PPG Industries's fiscal year end?

According to the most recent income statement we have on file, PPG Industries' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has PPG Industries' net income changed over the last 9 years?

The last 5 years of PPG Industries' net income performance:

2020: $2.13 billion
2021: $2.90 billion
2022: $1.05 billion
2023: $1.31 billion
2024: $1.15 billion

Find out what analysts predict for PPG Industries in the coming months.

What is PPG Industries's operating income?

PPG Industries's total operating income in 2024 was $1.91 billion, based on the following breakdown:

Total Gross Profit: $6.59 billion
Total Operating Expenses: $4.69 billion

How has PPG Industries revenue changed over the last 9 years?

Over the last 9 years, PPG Industries' total revenue changed from $14.24 billion in 2015 to $15.85 billion in 2024, a change of 11.3%.

How much debt does PPG Industries have?

PPG Industries' total liabilities were at $12.47 billion at the end of 2024, a 8.5% decrease from 2023, and a 3.9% increase since 2015.

How much cash does PPG Industries have?

In the past 9 years, PPG Industries' cash and equivalents has ranged from $902 million in 2018 to $1.83 billion in 2020, and is currently $1.27 billion as of their latest financial filing in 2024.

How has PPG Industries' book value per share changed over the last 9 years?

Over the last 9 years, PPG Industries' book value per share changed from 18.51 in 2015 to 29.25 in 2024, a change of 58.0%.

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This page (NYSE:PPG) was last updated on 5/28/2025 by MarketBeat.com Staff

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PPG Industries (PPG) Financials

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PPG Industries (PPG) Financials

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