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Ppg Inds Inc Financials

PPG
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 45 / 100
Financial Profile 45/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth
22

Ppg Inds Inc's revenue declined 2.4% year-over-year, from $16.2B to $15.8B. This contraction results in a growth score of 22/100.

Leverage
84

Ppg Inds Inc carries a low D/E ratio of 0.72, meaning only $0.72 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
32

Ppg Inds Inc's current ratio of 1.31 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
22

Ppg Inds Inc's free cash flow margin of 4.4% results in a low score of 22/100. Capital expenditures of $721.0M absorb a large share of operating cash flow.

Returns
66

Ppg Inds Inc earns a strong 16.4% return on equity (ROE), meaning it generates $16 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 66/100. This is up from 16.2% the prior year.

Piotroski F-Score Strong
7/9

Ppg Inds Inc passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.27x

For every $1 of reported earnings, Ppg Inds Inc generates $1.27 in operating cash flow ($1.4B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Ppg Inds Inc (PPG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue
$15.8B
YoY-2.4%
5Y CAGR+0.9%
10Y CAGR+0.7%

Ppg Inds Inc generated $15.8B in revenue in fiscal year 2024. This represents a decrease of 2.4% from the prior year.

EBITDA
N/A
Free Cash Flow
$699.0M
YoY-63.1%
5Y CAGR-16.0%
10Y CAGR-3.2%

Ppg Inds Inc generated $699.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 63.1% from the prior year.

Net Income
$1.1B
YoY-12.1%
5Y CAGR-2.1%
10Y CAGR-6.1%

Ppg Inds Inc reported $1.1B in net income in fiscal year 2024. This represents a decrease of 12.1% from the prior year.

EPS (Diluted)
$4.75
YoY-11.2%
5Y CAGR-1.9%
10Y CAGR-4.5%

Ppg Inds Inc earned $4.75 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 11.2% from the prior year.

Cash & Debt
$1.3B
YoY-14.9%
5Y CAGR+0.9%
10Y CAGR+6.4%

Ppg Inds Inc held $1.3B in cash against $4.9B in long-term debt as of fiscal year 2024.

Dividends Per Share
$2.66
YoY+4.7%
5Y CAGR+6.1%
10Y CAGR+7.3%

Ppg Inds Inc paid $2.66 per share in dividends in fiscal year 2024. This represents an increase of 4.7% from the prior year.

Shares Outstanding
227M
YoY-3.5%
5Y CAGR-0.8%
10Y CAGR+5.3%

Ppg Inds Inc had 227M shares outstanding in fiscal year 2024. This represents a decrease of 3.5% from the prior year.

Gross Margin
41.6%
YoY+1.2pp
5Y CAGR-1.3pp

Ppg Inds Inc's gross margin was 41.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.

Operating Margin
N/A
Net Margin
7.0%
YoY-0.8pp
5Y CAGR-1.2pp
10Y CAGR-7.2pp

Ppg Inds Inc's net profit margin was 7.0% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.

Return on Equity
16.4%
YoY+0.2pp
5Y CAGR-7.1pp
10Y CAGR-24.1pp

Ppg Inds Inc's ROE was 16.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the prior year.

R&D Spending
$447.0M
YoY+0.2%
5Y CAGR-0.4%
10Y CAGR-1.1%

Ppg Inds Inc invested $447.0M in research and development in fiscal year 2024. This represents an increase of 0.2% from the prior year.

Share Buybacks
$752.0M
YoY+774.4%
5Y CAGR+18.3%
10Y CAGR+0.0%

Ppg Inds Inc spent $752.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 774.4% from the prior year.

Capital Expenditures
$721.0M
YoY+39.7%
5Y CAGR+11.8%
10Y CAGR+2.5%

Ppg Inds Inc invested $721.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 39.7% from the prior year.

PPG Income Statement

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23
Revenue $4.1B-2.7% $4.2B+13.9% $3.7B-1.2% $3.7B-11.9% $4.2B+10.0% $3.8B+64.1% $2.3B-49.5% $4.6B
Cost of Revenue $2.4B-0.2% $2.4B+13.5% $2.1B-3.3% $2.2B-9.6% $2.5B+11.1% $2.2B+50.6% $1.5B-46.8% $2.8B
Gross Profit $1.7B-6.1% $1.8B+14.3% $1.5B+1.9% $1.5B-15.2% $1.8B+8.6% $1.6B+86.4% $882.0M-53.4% $1.9B
R&D Expenses $106.0M0.0% $106.0M+3.9% $102.0M-21.5% $130.0M+20.4% $108.0M+0.9% $107.0M-13.7% $124.0M+14.8% $108.0M
SG&A Expenses $824.0M-5.5% $872.0M+4.1% $838.0M+0.4% $835.0M-2.7% $858.0M+0.9% $850.0M+190.1% $293.0M-72.0% $1.0B
Operating Income $689.0M-7.3% $743.0M+22.4% $607.0M-11.9% $689.0M-13.4% $796.0M+19.5% $666.0M+20.0% $555.0M-20.5% $698.0M
Interest Expense $65.0M+4.8% $62.0M+10.7% $56.0M-1.8% $57.0M-8.1% $62.0M+12.7% $55.0M-3.5% $57.0M-10.9% $64.0M
Income Tax $118.0M-15.7% $140.0M+14.8% $122.0M+74.3% $70.0M-53.0% $149.0M+16.4% $128.0M+64.1% $78.0M-35.5% $121.0M
Net Income $453.0M+0.7% $450.0M+20.6% $373.0M+233.2% -$280.0M-153.0% $528.0M+32.0% $400.0M+344.4% $90.0M-78.9% $426.0M
EPS (Diluted) $2.00+1.0% $1.98+21.5% $1.63+238.1% $-1.18-152.7% $2.24+32.5% $1.69+333.3% $0.39-78.2% $1.79

PPG Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23
Total Assets $22.1B+0.2% $22.1B+4.5% $21.1B+8.8% $19.4B-10.6% $21.7B-0.6% $21.9B+1.0% $21.6B+0.7% $21.5B
Current Assets $8.2B+0.4% $8.2B+3.7% $7.9B+20.5% $6.6B-15.8% $7.8B+1.5% $7.7B+3.2% $7.4B-1.6% $7.6B
Cash & Equivalents $1.8B+17.4% $1.6B-14.7% $1.8B+44.1% $1.3B+12.3% $1.1B-4.2% $1.2B-20.9% $1.5B+22.6% $1.2B
Inventory $2.2B-1.9% $2.2B+5.2% $2.1B+14.6% $1.8B-19.7% $2.3B-1.4% $2.3B+20.5% $1.9B-12.8% $2.2B
Accounts Receivable N/A N/A N/A $2.5B N/A N/A $2.6B N/A
Goodwill $6.1B+0.1% $6.1B+4.9% $5.8B+2.4% $5.7B-5.9% $6.0B-1.5% $6.1B+0.4% $6.1B-1.1% $6.2B
Total Liabilities $14.2B-1.2% $14.4B+2.2% $14.0B+12.6% $12.5B-9.5% $13.8B+0.3% $13.7B+0.9% $13.6B+0.4% $13.6B
Current Liabilities $5.6B-2.6% $5.8B-1.3% $5.8B+16.4% $5.0B-4.0% $5.2B+5.7% $4.9B-2.2% $5.1B-0.9% $5.1B
Long-Term Debt $5.9B-0.3% $5.9B+6.2% $5.6B+14.3% $4.9B-15.4% $5.8B-2.9% $5.9B+3.3% $5.7B+2.7% $5.6B
Total Equity $7.8B+2.9% $7.6B+9.4% $6.9B+2.1% $6.8B-12.6% $7.8B-2.2% $7.9B+1.4% $7.8B+1.0% $7.8B
Retained Earnings $22.8B+1.3% $22.5B+1.3% $22.2B+1.0% $22.0B-0.6% $22.1B+1.7% $21.7B+1.1% $21.5B-0.3% $21.6B

PPG Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23
Operating Cash Flow $685.0M+77.0% $387.0M+2250.0% -$18.0M-105.2% $346.0M-5.2% $365.0M+708.3% -$60.0M-106.7% $898.0M+0.7% $892.0M
Capital Expenditures $147.0M+21.5% $121.0M-42.1% $209.0M+0.5% $208.0M+80.9% $115.0M-54.4% $252.0M+86.7% $135.0M-2.9% $139.0M
Free Cash Flow $538.0M+102.3% $266.0M+217.2% -$227.0M-264.5% $138.0M-44.8% $250.0M+180.1% -$312.0M-140.9% $763.0M+1.3% $753.0M
Investing Cash Flow -$129.0M-7.5% -$120.0M+28.6% -$168.0M-127.2% $618.0M+571.8% -$131.0M+45.2% -$239.0M-52.2% -$157.0M-44.0% -$109.0M
Financing Cash Flow -$306.0M+53.7% -$661.0M-194.7% $698.0M+186.4% -$808.0M-438.7% -$150.0M-328.6% -$35.0M+93.6% -$545.0M+26.3% -$739.0M
Dividends Paid $160.0M+3.9% $154.0M0.0% $154.0M-2.5% $158.0M+3.9% $152.0M-0.7% $153.0M0.0% $153.0M0.0% $153.0M
Share Buybacks $147.0M+0.7% $146.0M-62.9% $394.0M+63.5% $241.0M+47.9% $163.0M+9.4% $149.0M+73.3% $86.0M $0

PPG Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q4'23 Q3'23
Gross Margin 40.6%-1.5pp 42.0%+0.2pp 41.9%+1.3pp 40.6%-1.6pp 42.1%-0.6pp 42.7%+5.1pp 37.6%-3.1pp 40.7%
Operating Margin 16.9%-0.8pp 17.7%+1.2pp 16.5%-0.6pp 17.1%-1.7pp 18.8%+1.5pp 17.3%-6.4pp 23.7%+8.6pp 15.0%
Net Margin 11.1%+0.4pp 10.7%+0.6pp 10.1%+17.6pp -7.5%-20.0pp 12.5%+2.1pp 10.4%+6.6pp 3.8%-5.3pp 9.2%
Return on Equity 5.8%-0.1pp 5.9%+0.6pp 5.4%-0.6pp 6.0%-0.8pp 6.8%+1.8pp 5.0%+3.9pp 1.1%-4.3pp 5.5%
Return on Assets 2.1%0.0pp 2.0%+0.3pp 1.8%+3.2pp -1.4%-3.9pp 2.4%+0.6pp 1.8%+1.4pp 0.4%-1.6pp 2.0%
Current Ratio 1.47+0.0 1.42+0.1 1.35+0.0 1.31-0.2 1.49-0.1 1.55+0.1 1.47-0.0 1.48
Debt-to-Equity 0.76-0.0 0.78-0.0 0.80+0.1 0.72-0.0 0.740.0 0.75+0.0 0.73+0.0 0.72
FCF Margin 13.2%+6.8pp 6.3%+12.5pp -6.2%-9.9pp 3.7%-2.2pp 5.9%+14.0pp -8.1%-40.6pp 32.5%+16.3pp 16.2%

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Frequently Asked Questions

What is Ppg Inds Inc's annual revenue?

Ppg Inds Inc (PPG) reported $15.8B in total revenue for fiscal year 2024. This represents a -2.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ppg Inds Inc's revenue growing?

Ppg Inds Inc (PPG) revenue declined by 2.4% year-over-year, from $16.2B to $15.8B in fiscal year 2024.

Is Ppg Inds Inc profitable?

Yes, Ppg Inds Inc (PPG) reported a net income of $1.1B in fiscal year 2024, with a net profit margin of 7.0%.

What is Ppg Inds Inc's earnings per share (EPS)?

Ppg Inds Inc (PPG) reported diluted earnings per share of $4.75 for fiscal year 2024. This represents a -11.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Ppg Inds Inc have?

As of fiscal year 2024, Ppg Inds Inc (PPG) had $1.3B in cash and equivalents against $4.9B in long-term debt.

What is Ppg Inds Inc's gross margin?

Ppg Inds Inc (PPG) had a gross margin of 41.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ppg Inds Inc's net profit margin?

Ppg Inds Inc (PPG) had a net profit margin of 7.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Ppg Inds Inc pay dividends?

Yes, Ppg Inds Inc (PPG) paid $2.66 per share in dividends during fiscal year 2024.

What is Ppg Inds Inc's return on equity (ROE)?

Ppg Inds Inc (PPG) has a return on equity of 16.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Ppg Inds Inc's free cash flow?

Ppg Inds Inc (PPG) generated $699.0M in free cash flow during fiscal year 2024. This represents a -63.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ppg Inds Inc's operating cash flow?

Ppg Inds Inc (PPG) generated $1.4B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Ppg Inds Inc's total assets?

Ppg Inds Inc (PPG) had $19.4B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Ppg Inds Inc's capital expenditures?

Ppg Inds Inc (PPG) invested $721.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Ppg Inds Inc spend on research and development?

Ppg Inds Inc (PPG) invested $447.0M in research and development during fiscal year 2024.

Does Ppg Inds Inc buy back shares?

Yes, Ppg Inds Inc (PPG) spent $752.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Ppg Inds Inc have outstanding?

Ppg Inds Inc (PPG) had 227M shares outstanding as of fiscal year 2024.

What is Ppg Inds Inc's current ratio?

Ppg Inds Inc (PPG) had a current ratio of 1.31 as of fiscal year 2024, which is considered adequate.

What is Ppg Inds Inc's debt-to-equity ratio?

Ppg Inds Inc (PPG) had a debt-to-equity ratio of 0.72 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ppg Inds Inc's return on assets (ROA)?

Ppg Inds Inc (PPG) had a return on assets of 5.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Ppg Inds Inc's Piotroski F-Score?

Ppg Inds Inc (PPG) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ppg Inds Inc's earnings high quality?

Ppg Inds Inc (PPG) has an earnings quality ratio of 1.27x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Ppg Inds Inc?

Ppg Inds Inc (PPG) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.