Sherwin-Williams (SHW)财务
NYSE · Basic Materials · Chemicals - Specialty · 员工64,249人 · CEO Heidi G. Petz
- 股价
- $332.61 +0.76%
- 市值
- $804亿
- 企业价值
- $941亿
- 最近财报
- Q3 '26 2026-10-27提交
- 下次财报
- 2027-01-28 EPS预期 $2.34
营收(TTM)$249亿+7.0% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)16.2%+0.3 百分点 对比去年同期营业利润 $40.2亿
净利润(TTM)$26.8亿+4.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$30.8亿+26.8% 对比去年同期资本支出 $6.06亿
稀释EPS(TTM)$10.88+6.1% 对比去年同期最近4个季度之和
净现金-$137亿-2.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $804亿 EV $941亿
- 营收
- $249亿 过去12个月
- 营收增速
- +7% FY2026年一致预期
- 净利润率
- 10.7% 净利润 / 营收,TTM
- P/E
- 30.3× 预期 27.6×(FY2026)
- P/S
- 3.2× 股价 / 营收,TTM
- EV / EBITDA
- 20.5× TTM
- 自由现金流
- $30.8亿 过去12个月
- 净利润
- $26.8亿 过去12个月
- 营收预期
- $252亿 FY2026年一致预期
- 盈利
- 2027-01-28 营收预期 $59亿
- 股息
- $3.19 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-27):营收超预期1.2%,EPS 低于预期1.6%营收$68.6亿,预期$67.8亿(+1.2%);EPS $3.63,预期$3.69(-1.6%)。
- 营收增长加速:同比7.9%Q3 '26营收$68.6亿,此前四个季度的平均值为5.8%。
- 营业利润率16.2%(TTM),较去年同期+0.3 百分点营收增长7.0%,营业利润增长8.8%。
- 税前利润的15.1%被营业外亏损吞噬税前利润$34.9亿,营业利润$40.2亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的2.4%(去年为3.7%)最近4个季度投入$6.06亿(同比-30.1%)。自由现金流$30.8亿,相当于净利润的115.0%。
- 股东回报$32.6亿 = 自由现金流的105.9%回购$24.8亿(去年为$18.5亿),股息$7.85亿,股权激励$1.17亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少2.5%Q3 '26稀释股数2.43亿,一年前为2.49亿。
- 净债务 $137亿现金 + 短期投资 $2.64亿,含租赁债务 $140亿;一年前净债务 $133亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $68.6亿 | $63.6亿 | +7.9% |
| 毛利率 | 47.8% | 49.2% | -1.4 百分点 |
| 营业利润 | $12亿 | $11.7亿 | +2.6% |
| 营业利润率 | 17.5% | 18.4% | -0.9 百分点 |
| 净利润 | $8.21亿 | $8.33亿 | -1.5% |
| 稀释EPS | $3.38 | $3.35 | +0.9% |
| 经营现金流 | $11亿 | $13.1亿 | -15.5% |
| 资本支出 | $1.29亿 | $1.96亿 | -34.5% |
| 自由现金流 | $9.76亿 | $11.1亿 | -12.2% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $2770万 | $3090万 | -10.4% |
实际 vs 一致预期
2026-10-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $68.6亿 | $67.8亿 | +1.2% |
| EPS(一致预期口径) | $3.63 | $3.69 | -1.6% |
来自2026-10-27发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Paint Stores Group | $40.2亿 | +4.7% | 58.5% | $141亿 | +4.1% | |
| Consumer Group | $24.9亿 | +11.4% | 36.3% | $92.8亿 | +10.6% | |
| Global Finishes Group | $19.2亿 | +9.1% | 27.9% | $72.1亿 | +6.6% | |
| Corporate And Eliminations | -$15.6亿 | -6.4% | -22.8% | -$56.6亿 | -4.8% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Non-US | $13.7亿 | +20.4% | 100.0% | $63.3亿 | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Paint Stores Group | $40.2亿 | +4.7% | – | – | – | – | – |
| Performance Coatings Group | $19亿 | +8.8% | – | – | – | – | – |
| Consumer Brands Group | $9.37亿 | +21.7% | – | – | – | – | – |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $36.8亿
- 资本支出
- -$6.06亿
- 股票回购
- -$24.8亿
- 股息
- -$7.85亿
- 收购
- -$11.5亿
- 债务净发行
- $3.18亿
- 股权激励费用
- $1.17亿
- 自由现金流
- $30.8亿
- 股东回报 / FCF
- 105.9%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 30.3× | 35.3× | 30.3× – 49.6× |
| EV / EBITDA | 20.5× | 23.6× | 20.6× – 32.9× |
| EV / 营收 | 3.8× | 4.1× | 3.3× – 5.2× |
| 股价 / FCF | 26.1× | 39.8× | 30.1× – 49.4× |
| 股价 / 净资产 | 20.1× | 23.6× | 17.4× – 37.9× |
| FCF收益率 | 3.8% | 2.6% | 2.0% – 3.3% |
| 投入资本回报率 | 14.4% | 14.2% | 13.1% – 15.4% |
| 净资产收益率 | 63.5% | 65.6% | 55.9% – 76.5% |
分析师
一致目标价 $377.85 (+13.6%)
区间 $329.00 – $420.00 · 评级 Buy
强烈买入0
买入24
持有15
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $252亿 | +6.9% | $12.04 | +17.3% | 27.6× | 15 |
| FY2027 | $262亿 | +4.1% | $13.22 | +9.8% | 25.2× | 17 |
| FY2028 | $274亿 | +4.5% | $14.72 | +11.3% | 22.6× | 8 |
| FY2029 | $290亿 | +5.8% | $16.43 | +11.6% | 20.2× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
The Sherwin-Williams Company在近期10-Q / 10-K文件中标记的全部321项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $1.29亿 | $1.96亿 | -34.5% | – | – | – | |
| Accelerated Share Repurchase Program, Adjustment | – | – | – | $5890万 | – | – |
| Accounts Payable, Current | $29亿 | $24.4亿 | +18.6% | $23.5亿 | $22.5亿 | +4.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $36亿 | $31.2亿 | +15.2% | $27.9亿 | $23.9亿 | +16.8% |
| Accounts Receivable, Allowance for Credit Loss, Current | $8600万 | $8150万 | +5.5% | $6250万 | $6040万 | +3.5% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $1770万 | $1120万 | +58.0% | $4720万 | $6870万 | -31.3% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $2200万 | $1600万 | +37.5% | $4930万 | $6950万 | -29.1% |
| Accrual for Environmental Loss Contingencies, Component Amount | $6520万2025-12-31 | $7060万 | -7.6% | $6520万 | $7060万 | -7.6% |
| Accrued Environmental Loss Contingencies, Current | $4990万 | $6500万 | -23.2% | $5270万 | $6640万 | -20.6% |
| Accrued Environmental Loss Contingencies, Noncurrent | $2.04亿 | $2.19亿 | -6.9% | $2.25亿 | $2.3亿 | -2.3% |
| Accumulated Capitalized Interest Costs | $4610万2025-12-31 | $5960万 | -22.7% | $4610万 | $5960万 | -22.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $34.8亿 | $34.8亿 | +0.2% | $32.5亿 | $31.9亿 | +1.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$6.16亿 | -$5.9亿 | -4.4% | -$6.34亿 | -$8.75亿 | +27.5% |
| Additional Paid in Capital | $43.6亿 | $47.3亿 | -7.8% | $42亿 | $45.8亿 | -8.1% |
| Amortization | $8830万 | $8410万 | +5.0% | $3.37亿 | $3.27亿 | +3.1% |
| Amortization Method Qualified Affordable Housing Project Investments, Amortization | $2850万 | $2350万 | +21.3% | $1.04亿 | $7500万 | +38.7% |
| Amortization of Intangible Assets | $8830万 | $8410万 | +5.0% | $3.37亿 | $3.27亿 | +3.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 190万 | 100万 | +90.0% | 180万 | 90万 | +100.0% |
| Asset Impairment Charges | – | – | – | $1780万 | $0 | – |
| Assets | $270亿 | $262亿 | +2.9% | $259亿 | $236亿 | +9.6% |
| Assets, Current | $70.3亿 | $61.5亿 | +14.3% | $60.1亿 | $54亿 | +11.2% |
| Assets, Fair Value Disclosure | $1.07亿 | $9830万 | +9.1% | $1.01亿 | $1.48亿 | -31.5% |
| Cash and Cash Equivalents, at Carrying Value | $2.64亿 | $2.42亿 | +9.4% | $2.07亿 | $2.1亿 | -1.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.64亿 | $2.42亿 | +9.4% | $2.07亿 | $2.1亿 | -1.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$2930万 | -$2830万 | -3.5% | -$320万 | -$6640万 | +95.2% |
| Common Stock, Capital Shares Reserved for Future Issuance | 2880万2025-12-31 | 1360万 | +111.9% | 2880万 | 1360万 | +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 | 9亿2025-12-31 | 9亿 | 0.0% | 9亿 | 9亿 | 0.0% |
| Common Stock, Shares Held in Employee Trust, Shares | 143万2025-12-31 | 143万 | 0.0% | 143万 | 143万 | 0.0% |
| Common Stock, Shares, Issued | 2.42亿 | 2.48亿 | -2.5% | – | – | – |
| Common Stock, Shares, Outstanding | 2.42亿 | 2.48亿 | -2.5% | 2.48亿 | 2.51亿 | -1.4% |
| Common Stock, Value, Issued | $8340万 | $9290万 | -10.2% | $8310万 | $9250万 | -10.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $7.99亿 | $8.41亿 | -5.0% | $28.1亿 | $24.3亿 | +15.6% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $1.04亿 | $7410万 | +40.9% | $7330万 | $5500万 | +33.3% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent | $2亿 | $2.36亿 | -15.3% | $2.28亿 | $2.31亿 | -1.4% |
| Contract with Customer, Liability, Current | $4.43亿 | $3.62亿 | +22.6% | $4.27亿 | $3.86亿 | +10.6% |
| Contract with Customer, Liability, Noncurrent | $570万 | $1180万 | -51.7% | $1030万 | $160万 | +543.8% |
| Cost of Goods and Services Sold | $35.8亿 | $32.3亿 | +10.8% | $121亿 | $119亿 | +1.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $3.74亿 | $5.58亿 | -33.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.57亿 | $1.55亿 | +1.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $6.17亿 | $8.45亿 | -27.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $8520万 | $1.32亿 | -35.6% |
| Debt Instrument, Unamortized Discount (Premium), Net | $2570万2025-12-31 | $2600万 | -1.2% | $2570万 | $2600万 | -1.2% |
| Debt Instrument, Unused Borrowing Capacity, Amount | $23.2亿 | $31.3亿 | -25.8% | $36.5亿 | $32.7亿 | +11.5% |
| Debt Issuance Costs, Net | $5360万2025-12-31 | $4860万 | +10.3% | $5360万 | $4860万 | +10.3% |
| Debt, Long-term and Short-term, Combined Amount | $118亿 | $115亿 | +2.4% | – | – | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1.71亿 | -$5480万 | +411.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$4400万 | -$1580万 | -178.5% |
| Deferred Income Tax Expense (Benefit) | -$1970万 | $9420万 | -120.9% | $1.53亿 | -$7490万 | +304.5% |
| Deferred Income Tax Liabilities, Net | $7.42亿 | $6.57亿 | +13.0% | $7.65亿 | $6.08亿 | +26.0% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $2660万 | -$430万 | +718.6% |
| Deferred Tax Assets, Gross | $10.9亿2025-12-31 | $11.8亿 | -7.6% | $10.9亿 | $11.8亿 | -7.6% |
| Deferred Tax Assets, in Process Research and Development | $02025-12-31 | $1.04亿 | -100.0% | $0 | $1.04亿 | -100.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $9.3亿2025-12-31 | $10.5亿 | -11.6% | $9.3亿 | $10.5亿 | -11.6% |
| Deferred Tax Assets, Other | $1.63亿2025-12-31 | $1.93亿 | -15.8% | $1.63亿 | $1.93亿 | -15.8% |
| Deferred Tax Assets, Other Tax Carryforwards | $1.75亿2025-12-31 | $1.38亿 | +26.8% | $1.75亿 | $1.38亿 | +26.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits | $1.77亿2025-12-31 | $1.75亿 | +0.9% | $1.77亿 | $1.75亿 | +0.9% |
| Deferred Tax Assets, Valuation Allowance | $1.58亿2025-12-31 | $1.25亿 | +26.9% | $1.58亿 | $1.25亿 | +26.9% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 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
数据截至 2026-11-01