Sherwin-Williams (SHW) financials
NYSE · Basic Materials · Chemicals - Specialty · 64,249 employees · CEO Heidi G. Petz
- Price
- $332.61 +0.76%
- Market cap
- $80.4B
- Enterprise value
- $94.1B
- Last report
- Q3 '26 filed 2026-10-27
- Next report
- 2027-01-28 EPS est. $2.34
Revenue (TTM)$24.9B+7.0% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)16.2%+0.3 pp vs a year agoOperating income $4.02B
Net income (TTM)$2.68B+4.1% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$3.08B+26.8% vs a year agoCapex $606M
Diluted EPS (TTM)$10.88+6.1% vs a year agoSum of the last 4 quarters
Net cash-$13.7B-2.9% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $80.4B EV $94.1B
- Revenue
- $24.9B Trailing 12 months
- Revenue growth
- +7% FY2026 consensus
- Profit margin
- 10.7% Net income / revenue, TTM
- P/E
- 30.3× Forward 27.6× (FY2026)
- P/S
- 3.2× Price / sales, TTM
- EV / EBITDA
- 20.5× TTM
- Free cash flow
- $3.08B Trailing 12 months
- Net income
- $2.68B Trailing 12 months
- Revenue estimate
- $25.2B FY2026 consensus
- Earnings
- 2027-01-28 Revenue est. $5.9B
- Dividend
- $3.19 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-27): revenue beat by 1.2%, EPS missed by 1.6%Revenue $6.86B vs $6.78B expected (+1.2%); EPS $3.63 vs $3.69 (-1.6%).
- Revenue growth accelerating: 7.9% year on yearQ3 '26 revenue $6.86B, against an average of 5.8% over the four quarters before.
- Operating margin 16.2% (TTM), +0.3 pp on a year agoOperating income grew 8.8% while revenue grew 7.0%.
- 15.1% of pre-tax profit is eaten by non-operating lossesPre-tax income $3.49B vs operating income $4.02B (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
- Capex 2.4% of revenue (a year ago 3.7%)$606M invested in the last 4 quarters (-30.1% on a year earlier). Free cash flow $3.08B = 115.0% of net income.
- Returned $3.26B to shareholders = 105.9% of free cash flowBuybacks $2.48B (a year earlier $1.85B), dividends $785M, stock-based pay $117M (TTM). More than the free cash flow: paid from cash or debt.
- Diluted share count down 2.5% in a year243M diluted shares in Q3 '26, 249M a year earlier.
- Net debt $13.7BCash + short-term investments $264M, debt incl. leases $14B; a year ago net debt $13.3B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $6.86B | $6.36B | +7.9% |
| Gross margin | 47.8% | 49.2% | -1.4 pp |
| Operating income | $1.2B | $1.17B | +2.6% |
| Operating margin | 17.5% | 18.4% | -0.9 pp |
| Net income | $821M | $833M | -1.5% |
| Diluted EPS | $3.38 | $3.35 | +0.9% |
| Operating cash flow | $1.1B | $1.31B | -15.5% |
| Capex | $129M | $196M | -34.5% |
| Free cash flow | $976M | $1.11B | -12.2% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $27.7M | $30.9M | -10.4% |
Reported vs consensus
2026-10-27| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $6.86B | $6.78B | +1.2% |
| EPS (as estimated) | $3.63 | $3.69 | -1.6% |
From the report of 2026-10-27 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Paint Stores Group | $4.02B | +4.7% | 58.5% | $14.1B | +4.1% | |
| Consumer Group | $2.49B | +11.4% | 36.3% | $9.28B | +10.6% | |
| Global Finishes Group | $1.92B | +9.1% | 27.9% | $7.21B | +6.6% | |
| Corporate And Eliminations | -$1.56B | -6.4% | -22.8% | -$5.66B | -4.8% |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Non-US | $1.37B | +20.4% | 100.0% | $6.33B | – |
Segment profits
Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).
Segments in Q3 '26
| Segment | Revenue | y/y | Operating income | y/y | Margin | Margin a year ago | TTM operating income |
|---|---|---|---|---|---|---|---|
| Paint Stores Group | $4.02B | +4.7% | – | – | – | – | – |
| Performance Coatings Group | $1.9B | +8.8% | – | – | – | – | – |
| Consumer Brands Group | $937M | +21.7% | – | – | – | – | – |
Operating income by segment
quarterlySegment operating margin
quarterlyFourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $3.68B
- Capex
- -$606M
- Buybacks
- -$2.48B
- Dividends
- -$785M
- Acquisitions
- -$1.15B
- Net debt issued
- $318M
- Stock-based compensation
- $117M
- Free cash flow
- $3.08B
- Returned to shareholders / FCF
- 105.9%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 30.3× | 35.3× | 30.3× – 49.6× |
| EV / EBITDA | 20.5× | 23.6× | 20.6× – 32.9× |
| EV / Sales | 3.8× | 4.1× | 3.3× – 5.2× |
| Price / FCF | 26.1× | 39.8× | 30.1× – 49.4× |
| Price / Book | 20.1× | 23.6× | 17.4× – 37.9× |
| FCF yield | 3.8% | 2.6% | 2.0% – 3.3% |
| Return on invested capital | 14.4% | 14.2% | 13.1% – 15.4% |
| Return on equity | 63.5% | 65.6% | 55.9% – 76.5% |
Analysts
Consensus target $377.85 (+13.6%)
range $329.00 – $420.00 · rating Buy
Strong buy0
Buy24
Hold15
Sell1
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $25.2B | +6.9% | $12.04 | +17.3% | 27.6× | 15 |
| FY2027 | $26.2B | +4.1% | $13.22 | +9.8% | 25.2× | 17 |
| FY2028 | $27.4B | +4.5% | $14.72 | +11.3% | 22.6× | 8 |
| FY2029 | $29B | +5.8% | $16.43 | +11.6% | 20.2× | 5 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 321 figures The Sherwin-Williams Company tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| $129M | $196M | -34.5% | – | – | – | |
| Accelerated Share Repurchase Program, Adjustment | – | – | – | $58.9M | – | – |
| Accounts Payable, Current | $2.9B | $2.44B | +18.6% | $2.35B | $2.25B | +4.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $3.6B | $3.12B | +15.2% | $2.79B | $2.39B | +16.8% |
| Accounts Receivable, Allowance for Credit Loss, Current | $86M | $81.5M | +5.5% | $62.5M | $60.4M | +3.5% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $17.7M | $11.2M | +58.0% | $47.2M | $68.7M | -31.3% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $22M | $16M | +37.5% | $49.3M | $69.5M | -29.1% |
| Accrual for Environmental Loss Contingencies, Component Amount | $65.2M2025-12-31 | $70.6M | -7.6% | $65.2M | $70.6M | -7.6% |
| Accrued Environmental Loss Contingencies, Current | $49.9M | $65M | -23.2% | $52.7M | $66.4M | -20.6% |
| Accrued Environmental Loss Contingencies, Noncurrent | $204M | $219M | -6.9% | $225M | $230M | -2.3% |
| Accumulated Capitalized Interest Costs | $46.1M2025-12-31 | $59.6M | -22.7% | $46.1M | $59.6M | -22.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $3.48B | $3.48B | +0.2% | $3.25B | $3.19B | +1.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$616M | -$590M | -4.4% | -$634M | -$875M | +27.5% |
| Additional Paid in Capital | $4.36B | $4.73B | -7.8% | $4.2B | $4.58B | -8.1% |
| Amortization | $88.3M | $84.1M | +5.0% | $337M | $327M | +3.1% |
| Amortization Method Qualified Affordable Housing Project Investments, Amortization | $28.5M | $23.5M | +21.3% | $104M | $75M | +38.7% |
| Amortization of Intangible Assets | $88.3M | $84.1M | +5.0% | $337M | $327M | +3.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1.9M | 1M | +90.0% | 1.8M | 900K | +100.0% |
| Asset Impairment Charges | – | – | – | $17.8M | $0 | – |
| Assets | $27B | $26.2B | +2.9% | $25.9B | $23.6B | +9.6% |
| Assets, Current | $7.03B | $6.15B | +14.3% | $6.01B | $5.4B | +11.2% |
| Assets, Fair Value Disclosure | $107M | $98.3M | +9.1% | $101M | $148M | -31.5% |
| Cash and Cash Equivalents, at Carrying Value | $264M | $242M | +9.4% | $207M | $210M | -1.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $264M | $242M | +9.4% | $207M | $210M | -1.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$29.3M | -$28.3M | -3.5% | -$3.2M | -$66.4M | +95.2% |
| Common Stock, Capital Shares Reserved for Future Issuance | 28.8M2025-12-31 | 13.6M | +111.9% | 28.8M | 13.6M | +111.9% |
| Common Stock, Dividends, Per Share, Cash Paid | – | – | – | $3.16 | $2.86 | +10.5% |
| Common Stock, Dividends, Per Share, Declared | $0.80 | $0.79 | +1.3% | $2.002013-12-31 | $1.56 | +28.2% |
| Common Stock, Par or Stated Value Per Share | $0.33 | $0.33 | 0.0% | $0.33 | $0.33 | 0.0% |
| Common Stock, Shares Authorized | 900M2025-12-31 | 900M | 0.0% | 900M | 900M | 0.0% |
| Common Stock, Shares Held in Employee Trust, Shares | 1.43M2025-12-31 | 1.43M | 0.0% | 1.43M | 1.43M | 0.0% |
| Common Stock, Shares, Issued | 242M | 248M | -2.5% | – | – | – |
| Common Stock, Shares, Outstanding | 242M | 248M | -2.5% | 248M | 251M | -1.4% |
| Common Stock, Value, Issued | $83.4M | $92.9M | -10.2% | $83.1M | $92.5M | -10.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $799M | $841M | -5.0% | $2.81B | $2.43B | +15.6% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $104M | $74.1M | +40.9% | $73.3M | $55M | +33.3% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent | $200M | $236M | -15.3% | $228M | $231M | -1.4% |
| Contract with Customer, Liability, Current | $443M | $362M | +22.6% | $427M | $386M | +10.6% |
| Contract with Customer, Liability, Noncurrent | $5.7M | $11.8M | -51.7% | $10.3M | $1.6M | +543.8% |
| Cost of Goods and Services Sold | $3.58B | $3.23B | +10.8% | $12.1B | $11.9B | +1.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $374M | $558M | -33.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $157M | $155M | +1.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $617M | $845M | -27.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $85.2M | $132M | -35.6% |
| Debt Instrument, Unamortized Discount (Premium), Net | $25.7M2025-12-31 | $26M | -1.2% | $25.7M | $26M | -1.2% |
| Debt Instrument, Unused Borrowing Capacity, Amount | $2.32B | $3.13B | -25.8% | $3.65B | $3.27B | +11.5% |
| Debt Issuance Costs, Net | $53.6M2025-12-31 | $48.6M | +10.3% | $53.6M | $48.6M | +10.3% |
| Debt, Long-term and Short-term, Combined Amount | $11.8B | $11.5B | +2.4% | – | – | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $171M | -$54.8M | +411.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$44M | -$15.8M | -178.5% |
| Deferred Income Tax Expense (Benefit) | -$19.7M | $94.2M | -120.9% | $153M | -$74.9M | +304.5% |
| Deferred Income Tax Liabilities, Net | $742M | $657M | +13.0% | $765M | $608M | +26.0% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $26.6M | -$4.3M | +718.6% |
| Deferred Tax Assets, Gross | $1.09B2025-12-31 | $1.18B | -7.6% | $1.09B | $1.18B | -7.6% |
| Deferred Tax Assets, in Process Research and Development | $02025-12-31 | $104M | -100.0% | $0 | $104M | -100.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $930M2025-12-31 | $1.05B | -11.6% | $930M | $1.05B | -11.6% |
| Deferred Tax Assets, Other | $163M2025-12-31 | $193M | -15.8% | $163M | $193M | -15.8% |
| Deferred Tax Assets, Other Tax Carryforwards | $175M2025-12-31 | $138M | +26.8% | $175M | $138M | +26.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits | $177M2025-12-31 | $175M | +0.9% | $177M | $175M | +0.9% |
| Deferred Tax Assets, Valuation Allowance | $158M2025-12-31 | $125M | +26.9% | $158M | $125M | +26.9% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01