Sherwin-Williams (SHW) Financials

$358.83 +3.08 (+0.87%)

Closing price 03:59 PM Eastern

Extended Trading

$357.00 -1.83 (-0.51%)

As of 07:18 PM Eastern

Annual Income Statements for Sherwin-Williams

This table shows Sherwin-Williams' 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	2,681	2,389	2,020	1,864	2,030	1,541	1,109	1,728	1,133	1,054
Consolidated Net Income / (Loss)	2,681	2,389	2,020	1,864	2,030	1,541	1,109	1,728	1,133	1,054
Net Income / (Loss) Continuing Operations	2,681	2,389	2,020	1,864	2,030	1,541	1,109	1,770	1,133	1,054
Total Pre-Tax Income	3,452	3,110	2,573	2,249	2,519	1,982	1,360	1,469	1,595	1,549
Total Operating Income	3,812	3,568	3,003	2,559	2,861	2,326	2,067	1,712	1,745	1,646
Total Gross Profit	11,195	10,758	9,325	8,543	8,683	8,036	7,419	6,719	5,921	5,560
Total Revenue	23,099	23,052	22,149	19,945	18,362	17,901	17,535	14,984	11,856	11,339
Operating Revenue	23,099	23,052	22,149	19,945	18,362	17,901	17,535	14,984	11,856	11,339
Total Cost of Revenue	11,903	12,294	12,824	11,402	9,679	9,865	10,116	8,265	5,934	5,780
Operating Cost of Revenue	11,903	12,294	12,824	11,402	9,679	9,865	10,116	8,265	5,934	5,780
Total Operating Expenses	7,383	7,190	6,322	5,984	5,821	5,710	5,352	5,006	4,176	3,914
Selling, General & Admin Expense	7,422	7,065	6,332	5,882	5,478	5,275	5,034	4,798	4,140	3,886
Other Operating Expenses / (Income)	-39	67	-25	102	28	-	-	-	-	-
Impairment Charge	0.00	58	16	0.00	2.30	122	0.00	2.00	11	0.00
Total Other Income / (Expense), net	-360	-458	-430	-310	-342	-345	-707	-243	-150	-97
Interest Expense	416	418	391	335	340	349	367	264	154	62
Interest & Investment Income	11	25	8.00	4.90	3.60	26	5.20	8.60	4.96	1.40
Other Income / (Expense), net	45	-66	-47	20	-5.30	-21	-346	12	-0.55	-36
Income Tax Expense	770	721	553	384	489	441	251	-300	463	495
Basic Earnings per Share	$10.68	$9.35	$7.83	$7.10	$7.48	$5.60	$11.92	$18.60	$12.33	$11.43
Weighted Average Basic Shares Outstanding	251M	255.40M	258M	262.50M	271.30M	275.40M	92.99M	92.90M	91.84M	92.20M
Diluted Earnings per Share	$10.55	$9.25	$7.72	$6.98	$7.36	$5.50	$11.67	$18.20	$11.99	$11.15
Weighted Average Diluted Shares Outstanding	254.10M	258.30M	261.80M	267.10M	275.80M	280.30M	94.99M	92.90M	91.84M	92.20M
Weighted Average Basic & Diluted Shares Outstanding	251.36M	254.46M	258.44M	260.37M	89.60M	92.23M	93M	92.90M	91.84M	92.20M
Cash Dividends to Common per Share	$2.86	$2.42	$2.40	$2.20	$1.79	$1.51	$3.44	$3.40	$3.36	$2.68

This table shows Sherwin-Williams' 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	504	480	806	890	505	356	762	794	477	386	685
Consolidated Net Income / (Loss)	504	480	806	890	505	356	762	794	477	386	685
Net Income / (Loss) Continuing Operations	504	480	806	890	505	356	762	794	477	386	685
Total Pre-Tax Income	653	616	1,023	1,173	640	474	1,009	1,012	615	495	877
Total Operating Income	756	698	1,133	1,251	729	642	1,098	1,111	717	597	994
Total Gross Profit	2,559	2,573	3,028	3,063	2,531	2,549	2,916	2,872	2,421	2,234	2,589
Total Revenue	5,306	5,297	6,163	6,272	5,367	5,252	6,117	6,241	5,442	5,231	6,047
Operating Revenue	5,306	5,297	6,163	6,272	5,367	5,252	6,117	6,241	5,442	5,231	6,047
Total Cost of Revenue	2,747	2,724	3,135	3,208	2,836	2,704	3,201	3,368	3,022	2,997	3,458
Operating Cost of Revenue	2,747	2,724	3,135	3,208	2,836	2,704	3,201	3,368	3,022	2,997	3,458
Total Operating Expenses	1,803	1,875	1,894	1,812	1,802	1,907	1,818	1,762	1,704	1,637	1,596
Selling, General & Admin Expense	1,794	1,883	1,894	1,846	1,800	1,856	1,757	1,760	1,693	1,639	1,610
Other Operating Expenses / (Income)	8.90	-7.90	0.70	-34	2.00	27	62	-33	11	-17	-14
Total Other Income / (Expense), net	-103	-83	-110	-78	-89	-168	-89	-99	-103	-102	-117
Interest Expense	104	99	103	111	103	95	102	112	109	108	101
Interest & Investment Income	3.30	1.40	2.60	0.90	6.10	9.40	5.10	7.20	3.50	3.20	2.60
Other Income / (Expense), net	-2.90	15	-9.50	32	7.70	-83	8.00	5.80	3.20	2.90	-18
Income Tax Expense	149	136	217	284	135	118	248	218	137	109	192
Basic Earnings per Share	$2.02	$1.91	$3.22	$3.55	$2.00	$1.41	$2.98	$3.10	$1.86	$1.50	$2.66
Weighted Average Basic Shares Outstanding	249.40M	251M	250.60M	251M	252.50M	255.40M	255.10M	256M	256.70M	258M	257.70M
Diluted Earnings per Share	$2.00	$1.90	$3.18	$3.50	$1.97	$1.39	$2.95	$3.07	$1.84	$1.50	$2.62
Weighted Average Diluted Shares Outstanding	252.50M	254.10M	253.90M	254.20M	255.80M	258.30M	258.40M	258.90M	259.70M	261.80M	261.10M
Weighted Average Basic & Diluted Shares Outstanding	250.60M	251.36M	251.85M	252.26M	253.55M	254.46M	255.97M	257.15M	257.89M	258.44M	259.14M
Cash Dividends to Common per Share	$0.79	-	$0.72	$0.72	$0.72	-	$0.61	$0.61	$0.61	$0.60	$0.60

This table details how cash moves in and out of Sherwin-Williams' 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	-66	78	33	-61	65	6.30	-49	-649	684	165
Net Cash From Operating Activities	3,153	3,522	1,920	2,245	3,409	2,321	1,944	1,884	1,309	1,447
Net Cash From Continuing Operating Activities	3,153	3,522	1,920	2,245	3,409	2,321	1,944	1,884	1,309	1,447
Net Income / (Loss) Continuing Operations	2,681	2,389	2,020	1,864	2,030	1,541	1,109	1,770	1,133	1,054
Consolidated Net Income / (Loss)	2,681	2,389	2,020	1,864	2,030	1,541	1,109	1,728	1,133	1,054
Depreciation Expense	297	292	264	263	268	262	278	285	172	170
Amortization Expense	402	396	356	363	405	322	330	329	89	31
Non-Cash Adjustments To Reconcile Net Income	514	591	587	568	490	758	348	235	168	176
Changes in Operating Assets and Liabilities, net	-741	-146	-1,307	-814	215	-562	-122	-734	-253	16
Net Cash From Investing Activities	-1,196	-1,039	-1,608	-476	-322	-463	-252	-9,047	-304	-289
Net Cash From Continuing Investing Activities	-1,196	-1,039	-1,608	-476	-322	-463	-252	-9,047	-304	-289
Purchase of Property, Plant & Equipment	-1,070	-888	-645	-372	-304	-329	-251	-223	-239	-234
Acquisitions	-79	-265	-1,003	-211	0.00	-77	0.00	-8,810	0.00	0.00
Sale of Property, Plant & Equipment	12	70	33	15	61	6.90	38	47	38	11
Divestitures	0.00	104	0.00	123	0.00	0.00	-	-	-	-
Other Investing Activities, net	-59	-60	6.80	-31	-79	-63	-39	-62	-103	-66
Net Cash From Financing Activities	-2,017	-2,425	-282	-1,834	-3,020	-1,846	-1,747	6,514	-307	-980
Net Cash From Continuing Financing Activities	-2,017	-2,425	-282	-1,834	-3,020	-1,846	-1,747	6,514	-307	-980
Repayment of Debt	-890	-787	-77	306	-1,450	-2,134	-1,159	-1,942	-83	-673
Repurchase of Common Equity	-1,739	-1,432	-883	-2,752	-2,446	-779	-613	0.00	0.00	-1,035
Payment of Dividends	-723	-624	-619	-587	-488	-421	-323	-319	-312	-250
Issuance of Debt	849	0.00	1,000	995	999	1,333	32	8,632	0.50	798
Issuance of Common Equity	0.00	0.00	22	12	182	0.00	0.00	-	-	-
Other Financing Activities, net	486	418	275	193	183	155	316	144	87	180
Effect of Exchange Rate Changes	-6.20	20	3.20	4.90	-1.30	-6.00	5.90	-	-13	-13
Cash Interest Paid	407	417	371	339	341	336	368	221	154	49
Cash Income Taxes Paid	780	817	580	466	437	408	292	420	478	335

This table details how cash moves in and out of Sherwin-Williams' 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	-11	-28	38	20	-97	-227	294	58	-47	68	-182
Net Cash From Operating Activities	-61	935	1,075	1,203	-59	919	1,309	1,206	88	641	639
Net Cash From Continuing Operating Activities	-61	935	1,075	1,203	-59	919	1,309	1,206	88	641	639
Net Income / (Loss) Continuing Operations	504	480	806	890	505	356	762	794	477	386	685
Consolidated Net Income / (Loss)	504	480	806	890	505	356	762	794	477	386	685
Depreciation Expense	80	80	74	72	71	74	72	76	70	69	65
Amortization Expense	110	101	95	104	102	85	104	103	103	86	88
Non-Cash Adjustments To Reconcile Net Income	140	132	133	122	127	190	133	143	126	179	139
Changes in Operating Assets and Liabilities, net	-895	142	-34	16	-864	214	239	91	-689	-80	-338
Net Cash From Investing Activities	-316	-286	-329	-261	-321	-530	-91	-185	-233	-557	-577
Net Cash From Continuing Investing Activities	-316	-286	-329	-261	-321	-530	-91	-185	-233	-557	-577
Purchase of Property, Plant & Equipment	-189	-300	-235	-251	-284	-320	-153	-206	-210	-234	-175
Acquisitions	-82	-79	-	-	0.00	-242	-	-23	-0.30	-376	-415
Other Investing Activities, net	-45	91	-93	-19	-38	9.60	-11	-36	-23	53	-5.00
Net Cash From Financing Activities	367	-671	-719	-917	290	-640	-916	-968	98	-19	-256
Net Cash From Continuing Financing Activities	367	-671	-719	-917	290	-640	-916	-968	98	-19	-256
Repayment of Debt	-283	-260	-1,089	479	-20	-123	-468	-172	-25	218	-0.50
Repurchase of Common Equity	-352	-310	-449	-434	-546	-486	-410	-234	-302	-132	-48
Payment of Dividends	-200	-180	-183	-179	-183	-155	-156	-156	-157	-156	-156
Issuance of Debt	1,136	-	-	-	883	-	-	-	503	-185	-64
Other Financing Activities, net	67	80	153	99	155	124	118	98	78	236	13
Effect of Exchange Rate Changes	-0.50	-6.00	11	-4.60	-6.30	25	-8.10	3.80	-0.30	3.20	11
Cash Interest Paid	120	85	109	106	108	92	104	107	113	104	89
Cash Income Taxes Paid	90	182	355	173	70	294	217	265	41	150	253

This table presents Sherwin-Williams' 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	23,633	22,954	22,594	20,667	20,402	20,496	19,134	19,900	6,753	5,779
Total Current Assets	5,401	5,513	5,908	5,054	4,591	4,632	4,345	4,407	3,627	2,657
Cash & Equivalents	210	277	199	166	227	162	156	204	890	206
Accounts Receivable	2,389	2,468	2,564	2,352	2,078	2,089	2,019	2,105	1,231	1,114
Inventories, net	2,288	2,330	2,627	1,927	1,804	1,890	1,815	1,743	1,068	1,019
Other Current Assets	514	438	519	608	483	491	355	356	381	231
Plant, Property, & Equipment, net	3,533	2,837	2,207	1,867	1,835	1,835	1,777	1,877	1,096	1,042
Total Noncurrent Assets	14,699	14,605	14,479	13,746	13,976	14,029	13,013	13,615	2,029	2,080
Goodwill	7,580	7,626	7,583	7,135	7,049	7,005	6,957	6,814	1,127	1,143
Intangible Assets	3,533	3,881	4,002	4,002	4,471	4,735	5,202	6,002	255	255
Other Noncurrent Operating Assets	3,585	3,098	2,894	2,610	2,455	2,290	584	502	422	436
Total Liabilities & Shareholders' Equity	23,633	22,954	22,594	20,667	20,402	20,496	19,134	19,900	6,753	5,779
Total Liabilities	19,581	19,239	19,492	18,230	16,791	16,373	15,404	16,252	4,874	4,911
Total Current Liabilities	6,809	6,627	5,961	5,720	4,594	4,522	4,298	3,987	2,829	2,142
Short-Term Debt	1,712	1,473	979	1,024	25	635	636	635	741	43
Accounts Payable	2,253	2,315	2,437	2,403	2,118	1,876	1,799	1,792	1,035	1,158
Current Deferred & Payable Income Tax Liabilities	174	197	197	160	184	86	81	80	77	81
Current Employee Benefit Liabilities	843	863	785	717	753	553	505	508	398	338
Other Current Liabilities	1,827	1,779	1,564	1,416	1,515	1,373	1,277	973	579	522
Total Noncurrent Liabilities	12,773	12,612	13,531	12,510	12,196	11,851	11,106	12,264	2,045	2,769
Long-Term Debt	8,177	8,378	9,591	8,591	8,267	8,051	8,708	9,886	1,211	1,907
Noncurrent Deferred & Payable Income Tax Liabilities	608	683	682	768	846	970	1,131	1,420	74	139
Noncurrent Employee Benefit Liabilities	121	133	139	259	276	263	258	275	250	249
Other Noncurrent Operating Liabilities	3,868	3,418	3,119	2,892	2,808	2,567	1,009	684	509	475
Total Equity & Noncontrolling Interests	4,051	3,716	3,102	2,437	3,611	4,123	3,731	3,648	1,878	868
Total Preferred & Common Equity	4,051	3,716	3,102	2,437	3,611	4,123	3,731	3,648	1,878	868
Total Common Equity	4,051	3,716	3,102	2,437	3,611	4,123	3,731	3,648	1,878	868
Common Stock	4,669	4,285	4,055	3,884	3,581	3,272	3,015	2,841	2,605	2,446
Retained Earnings	7,246	5,288	3,523	2,122	844	7,367	6,247	5,458	4,049	3,229
Treasury Stock	-6,989	-5,234	-3,776	-2,870	-97	-5,837	-4,901	-4,266	-4,236	-4,220
Accumulated Other Comprehensive Income / (Loss)	-875	-624	-701	-698	-718	-680	-630	-385	-540	-587

This table presents Sherwin-Williams' 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	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
Total Assets	24,636	23,633	23,968	23,734	23,428	22,954	23,005	23,166	23,130	22,594	22,246
Total Current Assets	6,040	5,401	5,974	6,051	5,842	5,513	6,199	6,351	6,293	5,908	6,117
Cash & Equivalents	200	210	238	200	180	277	503	209	151	199	131
Accounts Receivable	2,813	2,389	2,973	3,048	2,809	2,468	2,941	3,118	2,909	2,564	2,898
Inventories, net	2,515	2,288	2,267	2,289	2,378	2,330	2,244	2,439	2,708	2,627	2,548
Other Current Assets	512	514	495	513	475	438	510	584	524	519	541
Plant, Property, & Equipment, net	3,663	3,533	3,345	3,137	3,009	2,837	2,581	2,443	2,362	2,207	2,041
Total Noncurrent Assets	14,933	14,699	14,649	14,547	14,577	14,605	14,225	14,373	14,475	14,479	14,087
Goodwill	7,708	7,580	7,657	7,607	7,621	7,626	7,412	7,447	7,445	7,583	7,318
Intangible Assets	3,493	3,533	3,657	3,693	3,778	3,881	3,824	3,934	4,104	4,002	3,958
Other Noncurrent Operating Assets	3,731	3,585	3,335	3,247	3,178	3,098	2,989	2,992	2,926	2,894	2,811
Total Liabilities & Shareholders' Equity	24,636	23,633	23,968	23,734	23,428	22,954	23,005	23,166	23,130	22,594	22,246
Total Liabilities	20,506	19,581	19,812	19,982	19,924	19,239	19,225	19,535	19,963	19,492	19,648
Total Current Liabilities	7,877	6,809	7,218	7,467	7,484	6,627	6,623	6,339	6,306	5,961	6,096
Short-Term Debt	2,949	1,712	1,964	2,208	2,605	1,473	1,437	1,306	1,482	979	946
Accounts Payable	2,513	2,253	2,538	2,494	2,454	2,315	2,425	2,490	2,514	2,437	2,808
Current Deferred & Payable Income Tax Liabilities	226	174	215	347	240	197	380	308	315	197	205
Current Employee Benefit Liabilities	567	843	726	709	560	863	768	701	528	785	651
Other Current Liabilities	1,622	1,827	1,776	1,709	1,624	1,779	1,614	1,535	1,467	1,564	1,486
Total Noncurrent Liabilities	12,629	12,773	12,594	12,516	12,441	12,612	12,601	13,196	13,657	13,531	13,552
Long-Term Debt	7,827	8,177	8,175	8,131	8,130	8,378	8,499	9,096	9,593	9,591	9,589
Noncurrent Deferred & Payable Income Tax Liabilities	586	608	632	642	666	683	648	711	740	682	692
Noncurrent Employee Benefit Liabilities	121	121	133	133	133	133	139	139	139	139	257
Other Noncurrent Operating Liabilities	4,096	3,868	3,654	3,610	3,512	3,418	3,314	3,250	3,185	3,119	3,015
Total Equity & Noncontrolling Interests	4,130	4,051	4,156	3,752	3,504	3,716	3,780	3,631	3,167	3,102	2,598
Total Preferred & Common Equity	4,130	4,051	4,156	3,752	3,504	3,716	3,780	3,631	3,167	3,102	2,598
Total Common Equity	4,130	4,051	4,156	3,752	3,504	3,716	3,780	3,631	3,167	3,102	2,598
Common Stock	4,715	4,669	4,564	4,434	4,391	4,285	4,196	4,136	4,089	4,055	4,011
Retained Earnings	7,550	7,246	6,946	6,322	5,611	5,288	5,087	4,482	3,844	3,523	3,293
Treasury Stock	-7,362	-6,989	-6,678	-6,228	-5,793	-5,234	-4,747	-4,335	-4,101	-3,776	-3,643
Accumulated Other Comprehensive Income / (Loss)	-773	-875	-676	-777	-705	-624	-756	-651	-666	-701	-1,063

This table displays calculated financial ratios and metrics derived from Sherwin-Williams' 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	0.20%	4.08%	11.05%	8.62%	2.57%	2.09%	17.02%	26.39%	4.55%	1.88%
EBITDA Growth	8.72%	17.19%	11.57%	-9.20%	22.15%	24.03%	-0.36%	16.58%	10.74%	19.02%
EBIT Growth	10.12%	18.48%	14.64%	-9.72%	23.89%	33.93%	-0.17%	-1.16%	8.39%	21.97%
NOPAT Growth	8.05%	16.24%	11.12%	-8.00%	27.46%	7.36%	-18.28%	66.45%	10.66%	21.28%
Net Income Growth	12.25%	18.25%	8.35%	-8.18%	31.73%	39.02%	-35.84%	52.55%	7.48%	21.71%
EPS Growth	14.05%	19.82%	10.60%	-5.16%	31.73%	39.02%	-35.88%	51.79%	7.53%	27.14%
Operating Cash Flow Growth	-10.47%	83.44%	-14.47%	-34.15%	46.84%	19.43%	3.17%	43.97%	-9.60%	33.84%
Free Cash Flow Firm Growth	-13.74%	279.17%	-59.66%	-41.66%	57.42%	-23.77%	130.47%	-1,084.87%	-27.91%	37.14%
Invested Capital Growth	3.31%	-1.36%	13.35%	1.80%	-7.67%	-2.11%	-7.49%	374.78%	12.60%	-5.17%
Revenue Q/Q Growth	0.20%	0.09%	2.16%	1.39%	2.08%	0.28%	0.49%	8.68%	1.52%	0.31%
EBITDA Q/Q Growth	4.00%	-0.87%	5.18%	-6.98%	9.80%	6.13%	-7.51%	5.05%	2.33%	6.54%
EBIT Q/Q Growth	4.15%	-1.15%	7.62%	-7.03%	8.71%	7.86%	-6.76%	-1.81%	1.70%	7.55%
NOPAT Q/Q Growth	2.06%	0.68%	8.92%	-7.36%	7.34%	-1.42%	-33.66%	66.31%	-0.28%	5.43%
Net Income Q/Q Growth	4.84%	-1.24%	4.25%	-5.24%	8.46%	10.60%	-40.42%	60.30%	0.44%	6.60%
EPS Q/Q Growth	5.08%	-2.43%	2.66%	-7.18%	8.46%	10.60%	-41.62%	59.79%	0.59%	7.31%
Operating Cash Flow Q/Q Growth	0.51%	8.56%	30.36%	-22.48%	5.74%	6.78%	-5.48%	17.69%	-13.43%	31.26%
Free Cash Flow Firm Q/Q Growth	22.63%	16.41%	49.44%	-32.11%	8.80%	-17.21%	4.94%	4.52%	-25.29%	26.09%
Invested Capital Q/Q Growth	-2.34%	0.59%	3.62%	4.70%	-1.70%	-0.74%	-3.74%	3.57%	2.95%	-7.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.47%	46.67%	42.10%	42.83%	47.29%	44.89%	42.31%	44.84%	49.94%	49.03%
EBITDA Margin	19.72%	18.18%	16.14%	16.07%	19.22%	16.14%	13.29%	15.60%	16.92%	15.97%
Operating Margin	16.50%	15.48%	13.56%	12.83%	15.58%	13.00%	11.79%	11.43%	14.72%	14.51%
EBIT Margin	16.70%	15.19%	13.35%	12.93%	15.55%	12.88%	9.82%	11.51%	14.71%	14.19%
Profit (Net Income) Margin	11.61%	10.36%	9.12%	9.35%	11.06%	8.61%	6.32%	11.53%	9.55%	9.29%
Tax Burden Percent	77.68%	76.81%	78.51%	82.91%	80.60%	77.77%	81.54%	117.60%	71.01%	68.04%
Interest Burden Percent	89.51%	88.80%	87.05%	87.21%	88.21%	85.97%	79.00%	85.22%	91.45%	96.25%
Effective Tax Rate	22.32%	23.19%	21.49%	17.09%	19.40%	22.23%	18.46%	-20.43%	28.99%	31.96%
Return on Invested Capital (ROIC)	21.92%	20.48%	18.59%	18.01%	18.96%	14.15%	12.54%	24.40%	44.62%	41.73%
ROIC Less NNEP Spread (ROIC-NNEP)	19.01%	16.95%	15.19%	15.07%	15.64%	11.13%	6.63%	18.52%	37.05%	37.97%
Return on Net Nonoperating Assets (RNNOA)	47.13%	49.59%	54.34%	43.64%	33.54%	25.10%	17.51%	38.14%	37.87%	71.32%
Return on Equity (ROE)	69.05%	70.07%	72.94%	61.65%	52.51%	39.25%	30.05%	62.53%	82.49%	113.05%
Cash Return on Invested Capital (CROIC)	18.67%	21.85%	6.08%	16.22%	26.94%	16.28%	20.31%	-106.01%	32.77%	47.03%
Operating Return on Assets (OROA)	16.56%	15.38%	13.67%	12.56%	13.97%	11.63%	8.82%	12.94%	27.84%	28.04%
Return on Assets (ROA)	11.51%	10.49%	9.34%	9.08%	9.93%	7.78%	5.68%	12.97%	18.08%	18.36%
Return on Common Equity (ROCE)	69.05%	70.07%	72.94%	61.65%	52.51%	39.25%	30.05%	62.53%	82.49%	113.05%
Return on Equity Simple (ROE_SIMPLE)	66.19%	64.29%	65.12%	76.50%	56.23%	37.38%	29.72%	47.37%	60.30%	121.42%
Net Operating Profit after Tax (NOPAT)	2,961	2,740	2,358	2,122	2,306	1,809	1,685	2,062	1,239	1,120
NOPAT Margin	12.82%	11.89%	10.64%	10.64%	12.56%	10.11%	9.61%	13.76%	10.45%	9.87%
Net Nonoperating Expense Percent (NNEP)	2.91%	3.53%	3.40%	2.94%	3.32%	3.03%	5.91%	5.88%	7.57%	3.76%
Return On Investment Capital (ROIC_SIMPLE)	21.24%	20.20%	17.24%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	51.53%	53.33%	57.90%	57.17%	52.71%	55.11%	57.69%	55.16%	50.06%	50.97%
SG&A Expenses to Revenue	32.13%	30.65%	28.59%	29.49%	29.83%	29.47%	28.71%	32.02%	34.92%	34.27%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	31.96%	31.19%	28.54%	30.00%	31.70%	31.90%	30.52%	33.41%	35.23%	34.52%
Earnings before Interest and Taxes (EBIT)	3,857	3,502	2,956	2,578	2,856	2,305	1,721	1,724	1,744	1,609
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4,556	4,190	3,576	3,205	3,529	2,889	2,330	2,338	2,006	1,811
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	21.13	21.31	19.47	36.92	17.87	12.52	9.38	9.90	12.39	25.64
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	46.87	0.00
Price to Revenue (P/Rev)	3.71	3.43	2.73	4.51	3.51	2.88	1.99	2.41	1.96	1.96
Price to Earnings (P/E)	31.93	33.14	29.90	48.26	31.78	33.49	31.55	20.89	20.55	21.12
Dividend Yield	0.84%	0.78%	1.03%	0.64%	0.75%	0.81%	0.92%	0.88%	1.34%	1.12%
Earnings Yield	3.13%	3.02%	3.35%	2.07%	3.15%	2.99%	3.17%	4.79%	4.87%	4.74%
Enterprise Value to Invested Capital (EV/IC)	6.94	6.68	5.25	8.36	6.22	4.76	3.42	3.32	8.27	9.19
Enterprise Value to Revenue (EV/Rev)	4.13	3.85	3.19	4.99	3.95	3.36	2.52	3.10	2.05	2.12
Enterprise Value to EBITDA (EV/EBITDA)	20.92	21.18	19.79	31.03	20.57	20.82	18.96	19.85	12.13	13.25
Enterprise Value to EBIT (EV/EBIT)	24.71	25.34	23.94	38.56	25.42	26.09	25.66	26.92	13.95	14.91
Enterprise Value to NOPAT (EV/NOPAT)	32.18	32.38	30.02	46.86	31.48	33.24	26.21	22.51	19.64	21.43
Enterprise Value to Operating Cash Flow (EV/OCF)	30.22	25.20	36.86	44.29	21.30	25.91	22.72	24.64	18.60	16.58
Enterprise Value to Free Cash Flow (EV/FCFF)	37.79	30.36	91.78	52.01	22.16	28.90	16.17	0.00	26.75	19.02
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.44	2.65	3.41	3.95	2.30	2.11	2.50	2.88	1.04	2.25
Long-Term Debt to Equity	2.02	2.25	3.09	3.52	2.29	1.95	2.33	2.71	0.64	2.20
Financial Leverage	2.48	2.93	3.58	2.90	2.14	2.26	2.64	2.06	1.02	1.88
Leverage Ratio	6.00	6.68	7.81	6.79	5.29	5.05	5.29	4.82	4.56	6.16
Compound Leverage Factor	5.37	5.93	6.80	5.92	4.66	4.34	4.18	4.11	4.17	5.93
Debt to Total Capital	70.94%	72.61%	77.31%	79.78%	69.66%	67.81%	71.47%	74.25%	50.97%	69.20%
Short-Term Debt to Total Capital	12.28%	10.86%	7.16%	8.50%	0.21%	4.95%	4.86%	4.48%	19.35%	1.51%
Long-Term Debt to Total Capital	58.66%	61.75%	70.15%	71.28%	69.45%	62.85%	66.60%	69.77%	31.62%	67.69%
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	29.06%	27.39%	22.69%	20.22%	30.34%	32.19%	28.53%	25.75%	49.03%	30.80%
Debt to EBITDA	2.17	2.35	2.96	3.00	2.35	3.01	4.01	4.50	0.97	1.08
Net Debt to EBITDA	2.12	2.28	2.90	2.95	2.29	2.95	3.94	4.41	0.53	0.96
Long-Term Debt to EBITDA	1.79	2.00	2.68	2.68	2.34	2.79	3.74	4.23	0.60	1.05
Debt to NOPAT	3.34	3.59	4.48	4.53	3.60	4.80	5.54	5.10	1.58	1.74
Net Debt to NOPAT	3.27	3.49	4.40	4.45	3.50	4.71	5.45	5.00	0.86	1.56
Long-Term Debt to NOPAT	2.76	3.06	4.07	4.05	3.58	4.45	5.17	4.79	0.98	1.70
Altman Z-Score	4.50	4.24	3.49	4.44	3.73	3.65	3.04	2.78	6.45	6.49
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.79	0.83	0.99	0.88	1.00	1.02	1.01	1.11	1.28	1.24
Quick Ratio	0.38	0.41	0.46	0.44	0.50	0.50	0.51	0.58	0.75	0.62
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,522	2,924	771	1,911	3,277	2,081	2,731	-8,961	910	1,262
Operating Cash Flow to CapEx	297.92%	430.39%	314.07%	628.39%	1,402.14%	720.90%	914.25%	1,072.89%	652.36%	648.97%
Free Cash Flow to Firm to Interest Expense	6.07	7.00	1.97	5.71	9.63	5.96	7.45	-34.01	5.90	20.42
Operating Cash Flow to Interest Expense	7.59	8.44	4.91	6.71	10.01	6.65	5.30	7.15	8.49	23.43
Operating Cash Flow Less CapEx to Interest Expense	5.04	6.48	3.35	5.64	9.30	5.72	4.72	6.48	7.19	19.82
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.99	1.01	1.02	0.97	0.90	0.90	0.90	1.12	1.89	1.98
Accounts Receivable Turnover	9.51	9.16	9.01	9.00	8.81	8.72	8.50	8.98	10.11	10.10
Inventory Turnover	5.16	4.96	5.63	6.11	5.24	5.33	5.69	5.88	5.69	5.63
Fixed Asset Turnover	7.25	9.14	10.87	10.78	10.01	9.91	9.60	10.08	11.09	10.99
Accounts Payable Turnover	5.21	5.17	5.30	5.04	4.85	5.37	5.63	5.85	5.41	5.25
Days Sales Outstanding (DSO)	38.37	39.83	40.51	40.54	41.42	41.88	42.92	40.63	36.10	36.13
Days Inventory Outstanding (DIO)	70.80	73.58	64.81	59.72	69.64	68.54	64.19	62.07	64.18	64.80
Days Payable Outstanding (DPO)	70.04	70.54	68.87	72.36	75.31	68.00	64.78	62.40	67.42	69.46
Cash Conversion Cycle (CCC)	39.13	42.87	36.44	27.90	35.75	42.42	42.32	40.29	32.86	31.47
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,729	13,290	13,473	11,887	11,676	12,647	12,919	13,964	2,941	2,612
Invested Capital Turnover	1.71	1.72	1.75	1.69	1.51	1.40	1.30	1.77	4.27	4.23
Increase / (Decrease) in Invested Capital	439	-183	1,587	210	-970	-272	-1,045	11,023	329	-142
Enterprise Value (EV)	95,290	88,746	70,762	99,423	72,595	60,144	44,163	46,415	24,334	23,998
Market Capitalization	85,612	79,172	60,392	89,974	64,530	51,620	34,975	36,099	23,272	22,254
Book Value per Share	$16.09	$14.52	$11.97	$9.30	$39.76	$44.67	$39.85	$39.01	$20.22	$9.32
Tangible Book Value per Share	($28.04)	($30.44)	($32.74)	($33.18)	($87.09)	($82.51)	($90.01)	($98.05)	$5.34	($5.70)
Total Capital	13,940	13,567	13,672	12,052	11,903	12,809	13,074	14,169	3,831	2,818
Total Debt	9,888	9,851	10,570	9,615	8,292	8,685	9,344	10,521	1,953	1,950
Total Long-Term Debt	8,177	8,378	9,591	8,591	8,267	8,051	8,708	9,886	1,211	1,907
Net Debt	9,678	9,574	10,371	9,449	8,066	8,523	9,188	10,316	1,063	1,744
Capital Expenditures (CapEx)	1,058	818	611	357	243	322	213	176	201	223
Debt-free, Cash-free Net Working Capital (DFCFNWC)	93	82	727	193	-204	583	527	851	650	352
Debt-free Net Working Capital (DFNWC)	304	359	926	358	22	744	682	1,055	1,539	558
Net Working Capital (NWC)	-1,408	-1,114	-53	-666	-3.00	110	47	420	798	515
Net Nonoperating Expense (NNE)	280	352	337	257	276	268	576	334	106	66
Net Nonoperating Obligations (NNO)	9,678	9,574	10,371	9,449	8,066	8,523	9,188	10,316	1,063	1,744
Total Depreciation and Amortization (D&A)	699	688	620	626	673	584	608	614	261	202
Debt-free, Cash-free Net Working Capital to Revenue	0.40%	0.36%	3.28%	0.97%	-1.11%	3.25%	3.00%	5.68%	5.48%	3.11%
Debt-free Net Working Capital to Revenue	1.31%	1.56%	4.18%	1.80%	0.12%	4.16%	3.89%	7.04%	12.98%	4.92%
Net Working Capital to Revenue	-6.10%	-4.83%	-0.24%	-3.34%	-0.02%	0.61%	0.27%	2.80%	6.73%	4.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$10.68	$9.35	$7.83	$7.10	$7.48	$5.60	$3.97	$6.36	$4.11	$3.79
Adjusted Weighted Average Basic Shares Outstanding	251M	255.40M	258M	262.50M	271.28M	276.68M	278.15M	281.98M	279.92M	276.81M
Adjusted Diluted Earnings per Share	$10.55	$9.25	$7.72	$6.98	$7.36	$5.50	$3.89	$6.22	$4.00	$3.72
Adjusted Weighted Average Diluted Shares Outstanding	254.10M	258.30M	261.80M	267.10M	275.83M	276.68M	278.15M	281.98M	279.92M	276.81M
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	251.36M	254.46M	258.44M	260.37M	268.81M	276.68M	278.15M	281.98M	279.92M	276.81M
Normalized Net Operating Profit after Tax (NOPAT)	2,961	2,785	2,370	2,122	2,308	1,904	1,685	1,200	1,247	1,120
Normalized NOPAT Margin	12.82%	12.08%	10.70%	10.64%	12.57%	10.64%	9.61%	8.01%	10.51%	9.87%
Pre Tax Income Margin	14.94%	13.49%	11.62%	11.27%	13.72%	11.07%	7.75%	9.81%	13.46%	13.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.28	8.39	7.56	7.70	8.39	6.60	4.69	6.54	11.32	26.05
NOPAT to Interest Expense	7.12	6.56	6.03	6.34	6.77	5.18	4.60	7.83	8.04	18.12
EBIT Less CapEx to Interest Expense	6.73	6.43	6.00	6.64	7.68	5.68	4.11	5.88	10.02	22.44
NOPAT Less CapEx to Interest Expense	4.58	4.60	4.47	5.27	6.06	4.26	4.02	7.16	6.74	14.51
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	26.98%	26.11%	30.62%	31.49%	24.03%	27.30%	29.12%	18.46%	27.55%	23.69%
Augmented Payout Ratio	91.83%	86.06%	74.34%	179.11%	144.52%	77.83%	84.44%	18.46%	27.55%	121.93%

This table displays calculated financial ratios and metrics derived from Sherwin-Williams' 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	-1.15%	0.86%	0.75%	0.50%	-1.38%	0.41%	1.15%	6.27%	8.88%	9.84%	17.50%
EBITDA Growth	3.61%	24.35%	0.86%	12.60%	1.80%	-4.86%	13.57%	31.24%	26.93%	30.43%	35.13%
EBIT Growth	2.25%	27.45%	1.61%	14.93%	2.26%	-6.80%	13.32%	34.29%	31.35%	53.53%	40.63%
NOPAT Growth	1.40%	12.92%	7.80%	8.94%	3.33%	3.47%	6.73%	31.68%	22.63%	81.73%	35.88%
Net Income Growth	-0.26%	34.78%	5.87%	12.12%	5.82%	-7.79%	11.15%	37.34%	28.75%	27.07%	36.42%
EPS Growth	1.52%	36.69%	7.80%	14.01%	7.07%	-7.33%	12.60%	38.91%	30.50%	29.31%	39.36%
Operating Cash Flow Growth	-3.74%	1.73%	-17.88%	-0.29%	-166.78%	43.31%	104.74%	96.67%	235.36%	230.58%	-24.75%
Free Cash Flow Firm Growth	-110.59%	-84.19%	-92.21%	303.20%	154.84%	159.38%	170.83%	-137.24%	-1,022.84%	-2,521.70%	-179.56%
Invested Capital Growth	4.61%	3.31%	6.40%	0.49%	-0.23%	-1.36%	1.62%	10.42%	13.40%	13.35%	14.52%
Revenue Q/Q Growth	0.16%	-14.04%	-1.74%	16.85%	2.19%	-14.13%	-1.99%	14.67%	4.05%	-13.51%	2.98%
EBITDA Q/Q Growth	5.54%	-30.88%	-11.39%	60.28%	26.66%	-43.94%	-1.07%	44.91%	18.38%	-33.08%	14.32%
EBIT Q/Q Growth	5.72%	-36.57%	-12.44%	74.15%	31.78%	-49.43%	-0.97%	54.95%	20.10%	-38.51%	17.35%
NOPAT Q/Q Growth	7.19%	-39.03%	-5.88%	64.86%	19.37%	-41.80%	-4.89%	56.37%	19.52%	-39.96%	17.34%
Net Income Q/Q Growth	4.96%	-40.45%	-9.41%	76.15%	41.83%	-53.22%	-4.06%	66.25%	23.58%	-43.61%	18.55%
EPS Q/Q Growth	5.26%	-40.25%	-9.14%	77.67%	41.73%	-52.88%	-3.91%	66.85%	22.67%	-42.75%	18.55%
Operating Cash Flow Q/Q Growth	-106.54%	-13.05%	-10.66%	2,142.28%	-106.41%	-29.81%	8.48%	1,267.80%	-86.24%	0.28%	4.21%
Free Cash Flow Firm Q/Q Growth	-161.12%	118.56%	-94.54%	45.14%	-8.72%	7.67%	242.44%	60.83%	1.16%	-28.44%	-377.09%
Invested Capital Q/Q Growth	7.12%	-2.34%	1.20%	-1.20%	5.78%	0.59%	-4.42%	-1.90%	4.58%	3.62%	3.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.23%	48.58%	49.13%	48.85%	47.16%	48.53%	47.68%	46.03%	44.48%	42.71%	42.82%
EBITDA Margin	17.78%	16.87%	20.98%	23.26%	16.96%	13.68%	20.96%	20.76%	16.43%	14.44%	18.66%
Operating Margin	14.26%	13.18%	18.39%	19.95%	13.59%	12.22%	17.95%	17.80%	13.18%	11.42%	16.44%
EBIT Margin	14.20%	13.45%	18.23%	20.46%	13.73%	10.65%	18.08%	17.89%	13.24%	11.47%	16.14%
Profit (Net Income) Margin	9.50%	9.06%	13.08%	14.19%	9.41%	6.78%	12.45%	12.72%	8.77%	7.39%	11.33%
Tax Burden Percent	77.17%	77.99%	78.82%	75.84%	78.94%	75.15%	75.47%	78.42%	77.65%	78.06%	78.10%
Interest Burden Percent	86.66%	86.38%	91.03%	91.44%	86.85%	84.76%	91.25%	90.64%	85.32%	82.48%	89.90%
Effective Tax Rate	22.83%	22.01%	21.18%	24.16%	21.06%	24.85%	24.53%	21.58%	22.35%	21.94%	21.90%
Return on Invested Capital (ROIC)	17.62%	17.58%	24.50%	25.12%	17.51%	15.82%	23.80%	24.33%	17.44%	15.57%	22.85%
ROIC Less NNEP Spread (ROIC-NNEP)	16.87%	16.91%	23.60%	24.54%	16.85%	14.55%	23.12%	23.58%	16.69%	14.76%	21.90%
Return on Net Nonoperating Assets (RNNOA)	46.69%	41.91%	57.51%	67.59%	54.26%	42.57%	71.92%	82.49%	65.24%	52.81%	78.95%
Return on Equity (ROE)	64.31%	59.48%	82.01%	92.71%	71.77%	58.39%	95.72%	106.82%	82.68%	68.38%	101.80%
Cash Return on Invested Capital (CROIC)	16.14%	18.67%	15.08%	19.98%	19.83%	21.85%	19.16%	10.37%	6.01%	6.08%	4.24%
Operating Return on Assets (OROA)	13.61%	13.34%	17.90%	20.08%	13.55%	10.78%	18.40%	18.17%	13.34%	11.75%	16.28%
Return on Assets (ROA)	9.10%	8.99%	12.84%	13.92%	9.29%	6.86%	12.67%	12.92%	8.84%	7.56%	11.43%
Return on Common Equity (ROCE)	64.31%	59.48%	82.01%	92.71%	71.77%	58.39%	95.72%	106.82%	82.68%	68.38%	101.80%
Return on Equity Simple (ROE_SIMPLE)	64.89%	0.00%	61.54%	66.98%	68.97%	0.00%	63.99%	64.51%	67.16%	0.00%	74.59%
Net Operating Profit after Tax (NOPAT)	584	545	893	949	576	482	829	871	557	466	776
NOPAT Margin	11.00%	10.28%	14.49%	15.13%	10.72%	9.18%	13.55%	13.96%	10.24%	8.91%	12.84%
Net Nonoperating Expense Percent (NNEP)	0.76%	0.67%	0.90%	0.58%	0.66%	1.26%	0.68%	0.76%	0.75%	0.81%	0.96%
Return On Investment Capital (ROIC_SIMPLE)	3.92%	3.91%	-	-	-	3.55%	-	-	-	3.41%	-
Cost of Revenue to Revenue	51.77%	51.42%	50.87%	51.15%	52.84%	51.47%	52.32%	53.97%	55.52%	57.29%	57.18%
SG&A Expenses to Revenue	33.81%	35.55%	30.73%	29.43%	33.53%	35.34%	28.72%	28.20%	31.11%	31.33%	26.62%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.98%	35.40%	30.74%	28.89%	33.57%	36.31%	29.73%	28.23%	31.30%	31.29%	26.38%
Earnings before Interest and Taxes (EBIT)	754	713	1,124	1,283	737	559	1,106	1,117	721	600	976
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	943	894	1,293	1,459	910	719	1,282	1,296	894	755	1,129
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	21.25	21.13	23.17	20.13	25.27	21.31	17.20	18.65	18.09	19.47	20.05
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)	3.81	3.71	4.18	3.28	3.85	3.43	2.82	2.95	2.54	2.73	2.40
Price to Earnings (P/E)	32.75	31.93	37.65	30.05	36.63	33.14	26.88	28.91	26.94	29.90	26.87
Dividend Yield	0.84%	0.84%	0.72%	0.89%	0.73%	0.78%	0.96%	0.92%	1.08%	1.03%	1.17%
Earnings Yield	3.05%	3.13%	2.66%	3.33%	2.73%	3.02%	3.72%	3.46%	3.71%	3.35%	3.72%
Enterprise Value to Invested Capital (EV/IC)	6.69	6.94	7.55	6.17	7.05	6.68	5.63	5.64	4.84	5.25	4.81
Enterprise Value to Revenue (EV/Rev)	4.27	4.13	4.61	3.72	4.31	3.85	3.23	3.39	3.02	3.19	2.88
Enterprise Value to EBITDA (EV/EBITDA)	21.43	20.92	24.24	19.60	23.56	21.18	17.61	19.13	18.12	19.79	18.38
Enterprise Value to EBIT (EV/EBIT)	25.39	24.71	28.67	23.24	28.16	25.34	21.01	22.83	21.81	23.94	22.75
Enterprise Value to NOPAT (EV/NOPAT)	33.12	32.18	36.60	30.21	35.91	32.38	27.35	29.17	27.72	30.02	28.87
Enterprise Value to Operating Cash Flow (EV/OCF)	31.21	30.22	33.84	25.41	29.36	25.20	22.95	30.26	34.43	36.86	42.42
Enterprise Value to Free Cash Flow (EV/FCFF)	42.36	37.79	51.63	30.94	35.50	30.36	29.64	57.05	85.66	91.78	121.10
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.61	2.44	2.44	2.76	3.06	2.65	2.63	2.86	3.50	3.41	4.06
Long-Term Debt to Equity	1.90	2.02	1.97	2.17	2.32	2.25	2.25	2.50	3.03	3.09	3.69
Financial Leverage	2.77	2.48	2.44	2.75	3.22	2.93	3.11	3.50	3.91	3.58	3.61
Leverage Ratio	6.30	6.00	5.92	6.35	6.98	6.68	7.10	7.72	8.31	7.81	8.13
Compound Leverage Factor	5.46	5.18	5.39	5.81	6.06	5.66	6.47	7.00	7.09	6.44	7.31
Debt to Total Capital	72.29%	70.94%	70.93%	73.37%	75.39%	72.61%	72.44%	74.12%	77.76%	77.31%	80.22%
Short-Term Debt to Total Capital	19.79%	12.28%	13.74%	15.67%	18.30%	10.86%	10.48%	9.30%	10.41%	7.16%	7.20%
Long-Term Debt to Total Capital	52.51%	58.66%	57.19%	57.70%	57.09%	61.75%	61.97%	64.82%	67.36%	70.15%	73.02%
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	27.71%	29.06%	29.07%	26.63%	24.61%	27.39%	27.56%	25.88%	22.24%	22.69%	19.78%
Debt to EBITDA	2.35	2.17	2.31	2.37	2.55	2.35	2.35	2.55	2.94	2.96	3.10
Net Debt to EBITDA	2.31	2.12	2.26	2.32	2.51	2.28	2.23	2.50	2.90	2.90	3.06
Long-Term Debt to EBITDA	1.71	1.79	1.87	1.86	1.93	2.00	2.01	2.23	2.55	2.68	2.82
Debt to NOPAT	3.63	3.34	3.49	3.65	3.89	3.59	3.65	3.89	4.50	4.48	4.87
Net Debt to NOPAT	3.56	3.27	3.41	3.58	3.83	3.49	3.47	3.82	4.44	4.40	4.81
Long-Term Debt to NOPAT	2.64	2.76	2.82	2.87	2.95	3.06	3.12	3.41	3.90	4.07	4.43
Altman Z-Score	3.94	4.06	4.38	3.72	4.00	3.82	3.48	3.50	3.03	3.14	2.92
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.77	0.79	0.83	0.81	0.78	0.83	0.94	1.00	1.00	0.99	1.00
Quick Ratio	0.38	0.38	0.44	0.44	0.40	0.41	0.52	0.52	0.49	0.46	0.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-64	105	48	881	607	665	618	-434	-1,107	-1,120	-872
Operating Cash Flow to CapEx	-32.28%	313.91%	456.74%	479.43%	-20.75%	307.84%	866.12%	585.35%	42.02%	274.17%	408.17%
Free Cash Flow to Firm to Interest Expense	-0.62	1.07	0.47	7.96	5.90	7.03	6.06	-3.88	-10.13	-10.35	-8.62
Operating Cash Flow to Interest Expense	-0.59	9.49	10.39	10.86	-0.57	9.71	12.84	10.80	0.81	5.92	6.32
Operating Cash Flow Less CapEx to Interest Expense	-2.41	6.47	8.12	8.59	-3.33	6.56	11.36	8.96	-1.11	3.76	4.77
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.96	0.99	0.98	0.98	0.99	1.01	1.02	1.02	1.01	1.02	1.01
Accounts Receivable Turnover	8.20	9.51	7.80	7.46	8.04	9.16	7.89	7.53	7.94	9.01	7.89
Inventory Turnover	4.83	5.16	5.27	5.05	4.76	4.96	5.25	5.30	5.12	5.63	5.83
Fixed Asset Turnover	6.91	7.25	7.78	8.25	8.56	9.14	9.97	10.43	10.58	10.87	11.21
Accounts Payable Turnover	4.76	5.21	4.79	4.80	4.88	5.17	4.81	4.69	4.80	5.30	4.64
Days Sales Outstanding (DSO)	44.54	38.37	46.82	48.91	45.42	39.83	46.27	48.49	45.99	40.51	46.26
Days Inventory Outstanding (DIO)	75.59	70.80	69.29	72.22	76.65	73.58	69.48	68.92	71.25	64.81	62.66
Days Payable Outstanding (DPO)	76.73	70.04	76.22	76.12	74.87	70.54	75.88	77.90	76.04	68.87	78.74
Cash Conversion Cycle (CCC)	43.40	39.13	39.90	45.01	47.20	42.87	39.87	39.51	41.20	36.44	30.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	14,707	13,729	14,058	13,891	14,059	13,290	13,213	13,823	14,090	13,473	13,002
Invested Capital Turnover	1.60	1.71	1.69	1.66	1.63	1.72	1.76	1.74	1.70	1.75	1.78
Increase / (Decrease) in Invested Capital	648	439	845	68	-32	-183	211	1,305	1,665	1,587	1,649
Enterprise Value (EV)	98,350	95,290	106,181	85,654	99,081	88,746	74,444	77,917	68,225	70,762	62,479
Market Capitalization	87,774	85,612	96,279	75,515	88,526	79,172	65,012	67,725	57,301	60,392	52,075
Book Value per Share	$16.43	$16.09	$16.48	$14.80	$13.88	$14.52	$14.70	$14.08	$12.25	$11.97	$10.02
Tangible Book Value per Share	($28.13)	($28.04)	($28.38)	($29.77)	($31.27)	($30.44)	($29.00)	($30.05)	($32.43)	($32.74)	($33.48)
Total Capital	14,907	13,940	14,296	14,091	14,239	13,567	13,716	14,033	14,242	13,672	13,133
Total Debt	10,776	9,888	10,140	10,339	10,735	9,851	9,936	10,401	11,075	10,570	10,535
Total Long-Term Debt	7,827	8,177	8,175	8,131	8,130	8,378	8,499	9,096	9,593	9,591	9,589
Net Debt	10,577	9,678	9,902	10,139	10,555	9,574	9,433	10,192	10,924	10,371	10,404
Capital Expenditures (CapEx)	189	298	235	251	284	298	151	206	210	234	157
Debt-free, Cash-free Net Working Capital (DFCFNWC)	913	93	482	592	784	82	509	1,108	1,317	727	837
Debt-free Net Working Capital (DFNWC)	1,112	304	721	792	964	359	1,012	1,317	1,469	926	967
Net Working Capital (NWC)	-1,837	-1,408	-1,244	-1,416	-1,641	-1,114	-424	12	-13	-53	21
Net Nonoperating Expense (NNE)	80	64	87	59	70	126	67	77	80	80	91
Net Nonoperating Obligations (NNO)	10,577	9,678	9,902	10,139	10,555	9,574	9,433	10,192	10,924	10,371	10,404
Total Depreciation and Amortization (D&A)	190	181	169	176	173	159	176	179	174	155	153
Debt-free, Cash-free Net Working Capital to Revenue	3.96%	0.40%	2.09%	2.57%	3.41%	0.36%	2.21%	4.82%	5.83%	3.28%	3.86%
Debt-free Net Working Capital to Revenue	4.83%	1.31%	3.13%	3.44%	4.20%	1.56%	4.40%	5.74%	6.50%	4.18%	4.46%
Net Working Capital to Revenue	-7.97%	-6.10%	-5.40%	-6.15%	-7.14%	-4.83%	-1.84%	0.05%	-0.06%	-0.24%	0.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.02	$1.91	$3.22	$3.55	$2.00	$1.41	$2.98	$3.10	$1.86	$1.50	$2.66
Adjusted Weighted Average Basic Shares Outstanding	249.40M	251M	250.60M	251M	252.50M	255.40M	255.10M	256M	256.70M	258M	257.70M
Adjusted Diluted Earnings per Share	$2.00	$1.90	$3.18	$3.50	$1.97	$1.39	$2.95	$3.07	$1.84	$1.50	$2.62
Adjusted Weighted Average Diluted Shares Outstanding	252.50M	254.10M	253.90M	254.20M	255.80M	258.30M	258.40M	258.90M	259.70M	261.80M	261.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.50	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	250.60M	251.36M	251.85M	252.26M	253.55M	254.46M	255.97M	257.15M	257.89M	258.44M	259.14M
Normalized Net Operating Profit after Tax (NOPAT)	584	545	893	949	576	482	829	898	557	466	776
Normalized NOPAT Margin	11.00%	10.28%	14.49%	15.13%	10.72%	9.18%	13.55%	14.39%	10.24%	8.91%	12.84%
Pre Tax Income Margin	12.31%	11.62%	16.60%	18.71%	11.92%	9.02%	16.50%	16.22%	11.30%	9.46%	14.51%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.26	7.24	10.87	11.58	7.15	5.91	10.85	10.00	6.59	5.54	9.64
NOPAT to Interest Expense	5.62	5.53	8.64	8.56	5.59	5.10	8.13	7.80	5.10	4.30	7.67
EBIT Less CapEx to Interest Expense	5.44	4.21	8.59	9.32	4.40	2.76	9.37	8.15	4.67	3.38	8.09
NOPAT Less CapEx to Interest Expense	3.80	2.51	6.36	6.30	2.83	1.94	6.65	5.95	3.18	2.14	6.12
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.66%	26.98%	27.33%	26.74%	26.88%	26.11%	25.80%	26.65%	29.35%	30.62%	31.33%
Augmented Payout Ratio	85.31%	91.83%	102.19%	101.40%	96.23%	86.06%	70.37%	57.20%	65.92%	74.34%	104.96%

Frequently Asked Questions About Sherwin-Williams' Financials

When does Sherwin-Williams's fiscal year end?

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

How has Sherwin-Williams' net income changed over the last 9 years?

Sherwin-Williams' net income appears to be on an upward trend, with a most recent value of $2.68 billion in 2024, rising from $1.05 billion in 2015. The previous period was $2.39 billion in 2023. Find out what analysts predict for Sherwin-Williams in the coming months.

What is Sherwin-Williams's operating income?

Sherwin-Williams's total operating income in 2024 was $3.81 billion, based on the following breakdown:

Total Gross Profit: $11.20 billion
Total Operating Expenses: $7.38 billion

How has Sherwin-Williams revenue changed over the last 9 years?

Over the last 9 years, Sherwin-Williams' total revenue changed from $11.34 billion in 2015 to $23.10 billion in 2024, a change of 103.7%.

How much debt does Sherwin-Williams have?

Sherwin-Williams' total liabilities were at $19.58 billion at the end of 2024, a 1.8% increase from 2023, and a 298.7% increase since 2015.

How much cash does Sherwin-Williams have?

In the past 9 years, Sherwin-Williams' cash and equivalents has ranged from $155.50 million in 2018 to $889.79 million in 2016, and is currently $210.40 million as of their latest financial filing in 2024.

How has Sherwin-Williams' book value per share changed over the last 9 years?

Over the last 9 years, Sherwin-Williams' book value per share changed from 9.32 in 2015 to 16.09 in 2024, a change of 72.5%.

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This page (NYSE:SHW) was last updated on 5/30/2025 by MarketBeat.com Staff

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Sherwin-Williams (SHW) Financials

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Sherwin-Williams (SHW) Financials

Annual Income Statements for Sherwin-Williams

Quarterly Income Statements for Sherwin-Williams

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Quarterly Cash Flow Statements for Sherwin-Williams

Annual Balance Sheets for Sherwin-Williams

Quarterly Balance Sheets for Sherwin-Williams

Annual Metrics And Ratios for Sherwin-Williams

Quarterly Metrics And Ratios for Sherwin-Williams

Frequently Asked Questions About Sherwin-Williams' Financials

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