What is PPG Industries, Inc.'s earnings per share (EPS)?

PPG Industries, Inc. (PPG) reported diluted earnings per share of $6.94 for fiscal year 2025. This represents a 46.1% 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.

PPG Industries (PPG) Financials

PPG NYSE

Trailing 12 months to June 30, 2026

Revenue $16.4B +5.0% YoY

Net Income $1.6B +55.5% YoY

EPS (Diluted) $6.99 +57.8% YoY

Free Cash Flow $1.4B +75.9% YoY

Market Cap $24.6B as of Oct 23, 2026

Price / Sales 1.5x on $16.4B revenue, trailing 12 months to June 30, 2026

Price / Earnings 15.6x on $1.6B net income, trailing 12 months to June 30, 2026

Price / Book 2.9x on $8.4B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 29, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PPG SEC filings page.

PPG Industries, Inc. (PPG) reported $16.4B in revenue over the twelve months to Jun 30, 2026, up 5.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI PPG FY2025 2026-10-24

Profits and cash recovered without sales growth, while higher reinvestment and debt made the balance sheet more capital-intensive.

Net income rose 41.2% while revenue increased only 0.2%, showing that the 2025 earnings rebound came largely below the sales line. Meanwhile, gross profit margin slipped 0.3 pp as free-cash-flow margin climbed 2.9 pp, pointing to improved conversion and lower-level earnings effects rather than broader gross-margin expansion.

Cash generation recovered faster than sales: operating cash flow increased 36.7% and free cash flow increased 66.4%, so the profit improvement translated into cash rather than remaining mainly an accounting result. However, capital expenditures reached 4.9% of revenue, up from 3.2% in FY2023, making reinvestment a larger claim on the business.

The 2025 asset expansion occurred alongside substantial balance-sheet financing: assets grew 13.7% while liabilities grew 12.3%. Long-term debt increased 35.4%, yet the current ratio improved to 1.6x, separating greater long-term leverage from stronger short-term coverage.

Financial Health Signals

Financial Health Score 56/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of PPG Industries, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Growth

PPG Industries, Inc.'s revenue grew a modest 0.2% year-over-year to $15.9B. This slow but positive growth earns a score of 27/100.

Leverage

PPG Industries, Inc. has a moderate D/E ratio of 0.83. This balance of debt and equity financing earns a leverage score of 50/100.

Liquidity

PPG Industries, Inc.'s current ratio of 1.62 indicates adequate short-term liquidity, earning a score of 47/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

PPG Industries, Inc. has a free cash flow margin of 7.3%, earning a moderate score of 56/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

PPG Industries, Inc. earns a strong 19.9% return on equity (ROE), meaning it generates $20 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 82/100. This is up from 16.4% the prior year.

Piotroski F-Score Neutral

6/9

PPG Industries, Inc. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.23x

For every $1 of reported earnings, PPG Industries, Inc. generates $1.23 in operating cash flow ($1.9B OCF vs $1.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$4.5B

YoY+7.2%

QoQ+14.4%

5Y CAGR+0.6%

10Y CAGR+1.7%

PPG Industries, Inc. generated $4.5B in revenue in Q2 2026. This represents an increase of 7.2% from the same quarter a year earlier. Against the prior quarter it is up 14.4%.

EBITDA

$877.0M

YoY-0.1%

QoQ+14.2%

PPG Industries, Inc.'s EBITDA was $877.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 14.2%.

Net Income

$437.0M

YoY-2.9%

QoQ+14.4%

5Y CAGR+0.3%

10Y CAGR+1.7%

PPG Industries, Inc. reported $437.0M in net income in Q2 2026. This represents a decrease of 2.9% from the same quarter a year earlier. Against the prior quarter it is up 14.4%.

EPS (Diluted)

$1.95

YoY-1.5%

QoQ+14.7%

5Y CAGR+1.6%

10Y CAGR+3.6%

PPG Industries, Inc. earned $1.95 per diluted share (EPS) in Q2 2026. This represents a decrease of 1.5% from the same quarter a year earlier. Against the prior quarter it is up 14.7%.

Cash & Balance Sheet

Free Cash Flow

$446.0M

YoY+67.7%

QoQn/m

5Y CAGR-3.8%

10Y CAGRn/m

PPG Industries, Inc. generated $446.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 67.7% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Debt

$1.5B

YoY-2.6%

QoQ-3.4%

5Y CAGR+4.9%

10Y CAGR-0.5%

PPG Industries, Inc. held $1.5B in cash against $6.2B in long-term debt as of Q2 2026.

Dividends Per Share

$0.71

YoY+4.4%

QoQ0.0%

5Y CAGR+5.6%

10Y CAGR+5.9%

PPG Industries, Inc. paid $0.71 per share in dividends in Q2 2026. This represents an increase of 4.4% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

222M

YoY-1.5%

QoQ-0.3%

5Y CAGR-1.3%

10Y CAGR-1.8%

PPG Industries, Inc. had 222M shares outstanding in Q2 2026. This represents a decrease of 1.5% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.

Margins & Returns

Gross Margin

40.2%

YoY-1.8pp

QoQ-1.9pp

5Y change+0.5pp

PPG Industries, Inc.'s gross margin was 40.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.

Operating Margin

16.5%

YoY-1.2pp

QoQ+0.4pp

PPG Industries, Inc.'s operating margin was 16.5% in Q2 2026, reflecting core business profitability. This is down 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Net Margin

9.7%

YoY-1.0pp

QoQ0.0pp

5Y change-0.2pp

10Y change-0.1pp

PPG Industries, Inc.'s net profit margin was 9.7% in Q2 2026, showing the share of revenue converted to profit. This is down 1.0 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.

Return on Equity

5.2%

YoY-0.8pp

QoQ+0.5pp

5Y change-1.7pp

10Y change-1.7pp

PPG Industries, Inc.'s quarterly ROE was 5.2% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.

Capital Allocation

R&D Spending

$107.0M

YoY+0.9%

QoQ-5.3%

5Y CAGR0.0%

PPG Industries, Inc. invested $107.0M in research and development in Q2 2026. This represents an increase of 0.9% from the same quarter a year earlier. Against the prior quarter it is down 5.3%.

Share Buybacks

$79.0M

YoY-45.9%

QoQ-17.7%

PPG Industries, Inc. spent $79.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 45.9% from the same quarter a year earlier. Against the prior quarter it is down 17.7%.

Capital Expenditures

$113.0M

YoY-6.6%

QoQ-42.3%

5Y CAGR+12.8%

10Y CAGR+3.6%

PPG Industries, Inc. invested $113.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 6.6% from the same quarter a year earlier. Against the prior quarter it is down 42.3%.

PPG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PPG quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$16.4B	$15.9B+0.2%	$15.8B-2.4%	$16.2B+4.0%	$15.6B-7.1%	$16.8B+21.5%	$13.8B-8.7%	$15.1B-1.5%	$15.4B+4.2%	$14.7B+3.3%	$14.3B+0.2%	$14.2B-3.7%	$14.8B-2.1%	$15.1B+11.8%	$13.5B+2.7%	$13.2B
Cost of Revenue	$9.7B	$9.3B+0.7%	$9.3B-4.4%	$9.7B-3.0%	$10.0B-3.0%	$10.3B+32.3%	$7.8B-10.1%	$8.7B-3.9%	$9.0B+9.6%	$8.2B	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$6.7B	$6.6B-0.5%	$6.6B+0.4%	$6.6B+16.4%	$5.6B-13.5%	$6.5B+7.6%	$6.1B-6.7%	$6.5B+1.9%	$6.4B-2.5%	$6.5B	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$458.0M	$446.0M-0.2%	$447.0M+0.2%	$446.0M-2.4%	$457.0M-1.3%	$463.0M+15.5%	$401.0M-12.1%	$456.0M-1.7%	$464.0M-1.7%	$472.0M-0.2%	$473.0M-2.3%	$484.0M-3.0%	$499.0M+4.2%	$479.0M+7.9%	$444.0M+0.2%	$443.0M
SG&A Expenses	$3.5B	$3.4B+1.4%	$3.4B-0.3%	$3.4B+12.0%	$3.0B-19.7%	$3.8B+11.5%	$3.4B-6.0%	$3.6B+0.9%	$3.6B+0.5%	$3.6B0.0%	$3.6B-0.8%	$3.6B-3.0%	$3.7B+6.0%	$3.5B+16.7%	$3.0B-4.3%	$3.1B
Operating Income	N/A	N/A	N/A	$2.7B+31.0%	$2.0B-5.9%	$2.2B+2.9%	$2.1B-7.1%	$2.3B+7.2%	$2.1B-7.6%	$2.3B-3.8%	$2.4B+4.2%	$2.3B+4.4%	$2.2B+13.9%	$1.9B+18.0%	$1.6B-1.7%	$1.7B
EBITDA	N/A	N/A	N/A	$3.2B+25.4%	$2.5B-6.9%	$2.7B+4.4%	$2.6B-5.9%	$2.8B+6.4%	$2.6B-5.0%	$2.8B-2.5%	$2.8B+3.3%	$2.7B+3.5%	$2.6B+11.2%	$2.4B+17.1%	$2.0B-2.6%	$2.1B
Interest Expense	$255.0M	$241.0M0.0%	$241.0M-2.4%	$247.0M+47.9%	$167.0M+38.0%	$121.0M-12.3%	$138.0M+4.5%	$132.0M+11.9%	$118.0M+12.4%	$105.0M-16.0%	$125.0M0.0%	$125.0M-33.2%	$187.0M-4.6%	$196.0M-6.7%	$210.0M0.0%	$210.0M
Income Tax	$455.0M	$458.0M-3.6%	$475.0M+11.0%	$428.0M+33.8%	$320.0M-14.4%	$374.0M+28.5%	$291.0M-25.8%	$392.0M+11.0%	$353.0M-42.6%	$615.0M+187.4%	$214.0M-48.2%	$413.0M+74.3%	$237.0M-6.3%	$253.0M+70.9%	$148.0M-43.1%	$260.0M
Net Income	$1.6B	$1.6B+41.2%	$1.1B-12.1%	$1.3B+23.8%	$1.0B-28.7%	$1.4B+35.9%	$1.1B-14.8%	$1.2B-7.3%	$1.3B-15.9%	$1.6B+82.6%	$873.0M-37.9%	$1.4B-33.1%	$2.1B-34.9%	$3.2B+243.4%	$941.0M-14.1%	$1.1B
EPS (Basic)	N/A	$6.96+45.9%	$4.77-11.3%	$5.38+24.0%	$4.34-28.4%	$6.06+35.6%	$4.47-14.9%	$5.25-4.5%	$5.50-11.6%	$6.22+89.1%	$3.29-36.5%	$5.18	$7.60-32.6%	$11.27	$6.13-11.9%	$6.96
EPS (Diluted)	$6.99	$6.94+46.1%	$4.75-11.2%	$5.35+23.8%	$4.32-28.1%	$6.01+35.1%	$4.45-14.8%	$5.22-4.6%	$5.47-11.5%	$6.18+89.0%	$3.27-36.4%	$5.14	$7.52-32.4%	$11.13	$6.06-11.8%	$6.87
Diluted Shares (Avg)	N/A	227M-3.3%	235M-1.0%	237M0.0%	237M-0.9%	239M+0.6%	238M-0.1%	238M-2.9%	245M-4.8%	258M-3.6%	267M-2.3%	274M	280M-3.7%	290M	155M-2.6%	159M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$4.5B+7.2%	$3.9B+6.7%	$3.9B+5.0%	$4.1B+1.2%	$4.2B-0.9%	$3.7B-4.3%	$3.7B+59.0%	$4.0B-13.2%
Cost of Revenue	$2.7B+10.5%	$2.3B+6.2%	$2.3B+4.5%	$2.4B+1.9%	$2.4B-0.7%	$2.1B-2.9%	$2.2B+51.4%	$2.4B-13.5%
Gross Profit	$1.8B+2.6%	$1.7B+7.3%	$1.6B+5.6%	$1.7B+0.3%	$1.8B-1.2%	$1.5B-6.2%	$1.5B+71.5%	$1.7B-12.7%
R&D Expenses	$107.0M+0.9%	$113.0M+10.8%	$132.0M+1.5%	$106.0M+3.9%	$106.0M-1.9%	$102.0M-4.7%	$130.0M+4.8%	$102.0M-5.6%
SG&A Expenses	$931.0M+6.8%	$885.0M+5.6%	$905.0M+8.4%	$824.0M-2.8%	$872.0M+1.6%	$838.0M-1.4%	$835.0M+185.0%	$848.0M-19.0%
Operating Income	$743.0M0.0%	$636.0M+4.8%	N/A	$689.0M0.0%	$743.0M-6.7%	$607.0M-8.9%	N/A	$689.0M-1.3%
EBITDA	$877.0M-0.1%	$768.0M+5.5%	N/A	$827.0M+2.4%	$878.0M-4.6%	$728.0M-8.5%	N/A	$808.0M-3.8%
Interest Expense	$71.0M+14.5%	$61.0M+8.9%	$58.0M+1.8%	$65.0M-3.0%	$62.0M0.0%	$56.0M+1.8%	$57.0M0.0%	$67.0M+4.7%
Income Tax	$127.0M-9.3%	$132.0M+8.2%	$78.0M+11.4%	$118.0M-7.8%	$140.0M-6.0%	$122.0M-4.7%	$70.0M-10.3%	$128.0M+5.8%
Net Income	$437.0M-2.9%	$382.0M+2.4%	$300.0Mn/m	$453.0M-3.2%	$450.0M-14.8%	$373.0M-6.8%	-$280.0M-411.1%	$468.0M+9.9%
EPS (Basic)	$1.96-1.0%	$1.71+4.9%	$1.34n/m	$2.010.0%	$1.98-12.0%	$1.63-4.1%	-$1.19-413.2%	$2.01+11.7%
EPS (Diluted)	$1.95-1.5%	$1.70+4.3%	$1.34n/m	$2.000.0%	$1.98-11.6%	$1.63-3.6%	-$1.18-410.5%	$2.00+11.7%
Diluted Shares (Avg)	224M-1.7%	224M-2.0%	N/A	227M-3.3%	228M-3.4%	229M-3.4%	N/A	234M-1.3%

PPG Balance Sheet

PPG quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$22.1B+13.7%	$19.4B-10.2%	$21.6B+4.4%	$20.7B-2.8%	$21.4B+9.2%	$19.6B+10.4%	$17.7B+10.6%	$16.0B-3.2%	$16.5B+4.9%	$15.8B-7.6%	$17.1B-2.6%	$17.5B+11.0%	$15.8B-0.5%	$15.9B+10.4%	$14.4B
Current Assets	$8.0B+21.4%	$6.6B-11.8%	$7.4B+3.6%	$7.2B+5.9%	$6.8B-0.4%	$6.8B+10.2%	$6.2B+3.5%	$6.0B-8.0%	$6.5B-1.5%	$6.6B-2.1%	$6.7B+4.2%	$6.4B-10.7%	$7.2B-6.5%	$7.7B+15.3%	$6.7B
Cash & Equivalents	$2.2B+70.3%	$1.3B-14.9%	$1.5B+35.9%	$1.1B+9.4%	$1.0B-45.0%	$1.8B+50.2%	$1.2B+34.8%	$902.0M-37.2%	$1.4B-21.1%	$1.8B+38.8%	$1.3B+91.1%	$686.0M-38.5%	$1.1B-14.5%	$1.3B0.0%	$1.3B
Short-Term Investments	$56.0M-36.4%	$88.0M+17.3%	$75.0M+36.4%	$55.0M-17.9%	$67.0M-30.2%	$96.0M+68.4%	$57.0M-6.6%	$61.0M+10.9%	$55.0M+27.9%	$43.0M-70.1%	$144.0M-71.0%	$497.0M-21.0%	$629.0M-42.1%	$1.1B+4248.0%	$25.0M
Inventory	$2.0B+8.1%	$1.8B-4.6%	$1.9B-14.9%	$2.3B+4.7%	$2.2B+25.1%	$1.7B+1.5%	$1.7B-4.1%	$1.8B+3.1%	$1.7B+14.3%	$1.5B-8.7%	$1.7B-9.1%	$1.8B0.0%	$1.8B+8.2%	$1.7B+5.0%	$1.6B
Accounts Receivable	$2.8B+12.4%	$2.5B-5.5%	$2.6B-7.2%	$2.8B+5.1%	$2.7B+11.4%	$2.4B-2.7%	$2.5B-1.0%	$2.5B-2.1%	$2.6B+11.8%	$2.3B-2.3%	$2.3B-1.0%	$2.4B-3.4%	$2.4B-4.6%	$2.6B+2.2%	$2.5B
Long-Term Investments	$332.0M+0.3%	$331.0M+30.3%	$254.0M+4.1%	$244.0M-10.9%	$274.0M+2.6%	$267.0M+3.5%	$258.0M+2.8%	$251.0M-6.3%	$268.0M+49.7%	$179.0M-51.2%	$367.0M-17.2%	$443.0M+12.7%	$393.0M-6.9%	$422.0M+9.0%	$387.0M
Goodwill	$6.1B+8.1%	$5.7B-7.0%	$6.1B+2.0%	$6.0B-4.1%	$6.2B+22.5%	$5.1B+14.1%	$4.5B+9.8%	$4.1B+3.2%	$3.9B+10.4%	$3.6B-1.5%	$3.6B-4.6%	$3.8B+26.4%	$3.0B+8.9%	$2.8B+3.8%	$2.7B
Total Liabilities	$14.0B+12.3%	$12.5B-8.5%	$13.6B-2.9%	$14.0B-6.1%	$14.9B+8.7%	$13.7B+11.7%	$12.3B+9.1%	$11.3B+3.8%	$10.9B+0.1%	$10.9B-9.6%	$12.0B-2.1%	$12.3B+15.0%	$10.7B-7.7%	$11.6B+5.7%	$10.9B
Current Liabilities	$4.9B-2.3%	$5.0B-0.8%	$5.1B+7.1%	$4.7B-0.9%	$4.8B-1.3%	$4.8B+10.4%	$4.4B0.0%	$4.4B+12.3%	$3.9B-8.4%	$4.3B-9.4%	$4.7B-3.7%	$4.9B+17.9%	$4.1B-7.3%	$4.5B+20.5%	$3.7B
Non-Current Liabilities	$9.1B+22.0%	$7.5B-13.0%	$8.6B-8.0%	$9.3B-8.5%	$10.2B+14.2%	$8.9B+12.4%	$7.9B+14.8%	$6.9B-0.9%	$7.0B+5.6%	$6.6B-9.7%	$7.3B-1.1%	$7.4B+13.2%	$6.5B-8.0%	$7.1B-1.9%	$7.2B
Long-Term Debt	$6.6B+35.4%	$4.9B-15.2%	$5.7B-11.6%	$6.5B-1.0%	$6.6B+27.1%	$5.2B+13.9%	$4.5B+4.0%	$4.4B+5.6%	$4.1B+9.2%	$3.8B-5.9%	$4.0B+14.0%	$3.5B+4.8%	$3.4B+0.1%	$3.4B-5.8%	$3.6B
Total Equity	$7.9B+17.0%	$6.8B-13.4%	$7.8B+18.8%	$6.6B+4.9%	$6.3B+10.5%	$5.7B+7.7%	$5.3B+14.1%	$4.6B-16.7%	$5.6B+15.1%	$4.8B-3.1%	$5.0B-3.8%	$5.2B+5.0%	$4.9B+21.4%	$4.1B+25.1%	$3.2B
Retained Earnings	$22.9B+4.3%	$22.0B+2.3%	$21.5B+3.2%	$20.8B+2.2%	$20.4B+4.6%	$19.5B+3.0%	$18.9B+4.3%	$18.1B+5.8%	$17.1B+7.3%	$16.0B+3.0%	$15.5B+7.1%	$14.5B+13.6%	$12.8B+29.2%	$9.9B+6.3%	$9.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$22.5B+2.0%	$22.1B+4.8%	$22.1B+13.7%	$22.1B+1.3%	$22.1B+1.7%	$21.1B-3.3%	$19.4B-10.2%	$21.9B+1.7%
Current Assets	$8.3B+0.9%	$8.0B+0.9%	$8.0B+21.4%	$8.2B+3.9%	$8.2B+5.2%	$7.9B+3.0%	$6.6B-11.8%	$7.9B+4.8%
Cash & Equivalents	$1.5B-2.6%	$1.6B-14.0%	$2.2B+70.3%	$1.8B+46.4%	$1.6B+38.0%	$1.8B+55.0%	$1.3B-14.9%	$1.3B+2.7%
Short-Term Investments	$74.0M+15.6%	$51.0M-19.0%	$56.0M-36.4%	$76.0M+7.0%	$64.0M+4.9%	$63.0M+16.7%	$88.0M+17.3%	$71.0M+10.9%
Inventory	$2.2B+0.1%	$2.2B+2.2%	$2.0B+8.1%	$2.2B-3.6%	$2.2B-3.3%	$2.1B-9.3%	$1.8B-4.6%	$2.3B+2.1%
Accounts Receivable	N/A	N/A	$2.8B+12.4%	N/A	N/A	N/A	$2.5B-5.5%	N/A
Long-Term Investments	$374.0M+10.7%	$346.0M+9.1%	$332.0M+0.3%	$342.0M+14.0%	$338.0M+14.6%	$317.0M+15.3%	$331.0M+30.3%	$300.0M+13.6%
Goodwill	$6.2B+0.8%	$6.2B+5.6%	$6.1B+8.1%	$6.1B+0.6%	$6.1B+1.1%	$5.8B-5.1%	$5.7B-7.0%	$6.1B-1.6%
Total Liabilities	$13.9B-2.9%	$13.9B-1.1%	$14.0B+12.3%	$14.2B+2.2%	$14.4B+4.1%	$14.0B+2.2%	$12.5B-8.5%	$13.9B+2.4%
Current Liabilities	$5.2B-9.3%	$5.0B-15.1%	$4.9B-2.3%	$5.6B+12.3%	$5.8B+10.3%	$5.8B+18.1%	$5.0B-0.8%	$5.0B-2.0%
Non-Current Liabilities	$8.7B+1.4%	$8.9B+8.9%	$9.1B+22.0%	$8.6B-3.5%	$8.6B+0.4%	$8.2B-6.7%	$7.5B-13.0%	$8.9B+5.0%
Long-Term Debt	$6.2B+4.7%	$6.4B+14.9%	$6.6B+35.4%	$5.9B-3.8%	$5.9B+2.7%	$5.6B-6.2%	$4.9B-15.2%	$6.1B+9.7%
Total Equity	$8.4B+11.4%	$8.1B+17.0%	$7.9B+17.0%	$7.8B+0.2%	$7.6B-2.4%	$6.9B-12.8%	$6.8B-13.4%	$7.8B+0.5%
Retained Earnings	$23.4B+4.2%	$23.2B+4.3%	$22.9B+4.3%	$22.8B+1.6%	$22.5B+1.7%	$22.2B+2.1%	$22.0B+2.3%	$22.4B+4.0%

PPG Cash Flow Statement

PPG quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$2.2B	$1.9B+36.7%	$1.4B-41.1%	$2.4B+150.4%	$963.0M-38.3%	$1.6B-26.7%	$2.1B+2.4%	$2.1B+41.8%	$1.5B-6.4%	$1.6B+16.1%	$1.4B-28.7%	$1.9B+24.0%	$1.5B-14.7%	$1.8B+0.2%	$1.8B+24.4%	$1.4B
Depreciation & Amortization	N/A	$528.0M+7.3%	$492.0M-4.3%	$514.0M+2.4%	$502.0M-10.5%	$561.0M+10.2%	$509.0M-0.4%	$511.0M+2.8%	$497.0M+8.0%	$460.0M+4.5%	$440.0M-1.3%	$446.0M-0.9%	$450.0M-0.4%	$452.0M+13.3%	$399.0M-6.1%	$425.0M
Stock-Based Compensation	N/A	$46.0M+9.5%	$42.0M-25.0%	$56.0M+64.7%	$34.0M-40.4%	$57.0M+29.5%	$44.0M+12.8%	$39.0M+5.4%	$37.0M+5.7%	$35.0M-22.2%	$45.0M-16.7%	$54.0M-23.9%	$71.0M-12.3%	$81.0M+14.1%	$71.0M+108.8%	$34.0M
Capital Expenditures	$757.0M	$778.0M+7.9%	$721.0M+39.7%	$516.0M+6.2%	$486.0M+31.0%	$371.0M+22.0%	$304.0M-26.4%	$413.0M+0.5%	$411.0M+14.2%	$360.0M-5.3%	$380.0M-11.6%	$430.0M-23.8%	$564.0M+14.2%	$494.0M+49.7%	$330.0M+1.2%	$326.0M
Free Cash Flow	$1.4B	$1.2B+66.4%	$699.0M-63.1%	$1.9B+297.3%	$477.0M-59.9%	$1.2B-34.8%	$1.8B+9.5%	$1.7B+57.9%	$1.1B-12.6%	$1.2B+24.4%	$971.0M-33.7%	$1.5B+52.0%	$964.0M-25.7%	$1.3B-11.0%	$1.5B+31.3%	$1.1B
Investing Cash Flow	-$870.0M	-$700.0M-754.2%	$107.0Mn/m	-$556.0Mn/m	-$461.0Mn/m	-$2.4Bn/m	-$1.4Bn/m	-$1.0Bn/m	-$764.0Mn/m	-$67.0M-115.4%	$436.0Mn/m	-$395.0Mn/m	-$857.0M-28666.7%	$3.0Mn/m	-$1.6B-556.4%	$353.0M
Financing Cash Flow	-$1.4B	-$545.0Mn/m	-$1.4Bn/m	-$1.6Bn/m	-$409.0M-539.8%	$93.0Mn/m	-$59.0Mn/m	-$758.0Mn/m	-$1.2Bn/m	-$2.0Bn/m	-$1.2Bn/m	-$812.0Mn/m	-$969.0Mn/m	-$2.0Bn/m	-$351.0Mn/m	-$1.6B
Dividends Paid	$637.0M	$628.0M+1.0%	$622.0M+4.0%	$598.0M+4.9%	$570.0M+6.3%	$536.0M+8.1%	$496.0M+6.0%	$468.0M+3.3%	$453.0M+4.4%	$434.0M+4.8%	$414.0M+8.1%	$383.0M+6.1%	$361.0M+4.6%	$345.0M-3.6%	$358.0M+0.8%	$355.0M
Share Buybacks	$425.0M	$790.0M+5.1%	$752.0M+774.4%	$86.0M-54.7%	$190.0M-9.5%	$210.0Mn/m	$0-100.0%	$325.0M-81.1%	$1.7B+111.7%	$813.0M-22.6%	$1.1B+39.8%	$751.0M+0.1%	$750.0M-25.0%	$1.0B+987.0%	$92.0M-89.3%	$858.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$559.0M+44.4%	$33.0Mn/m	$887.0M+156.4%	$685.0M-10.9%	$387.0M+6.0%	-$18.0Mn/m	$346.0M-61.5%	$769.0M-13.8%
Depreciation & Amortization	$134.0M-0.7%	$132.0M+9.1%	$134.0M+12.6%	$138.0M+16.0%	$135.0M+8.9%	$121.0M-6.9%	$119.0M+12.3%	$119.0M-16.2%
Stock-Based Compensation	$16.0M+23.1%	$11.0M-52.2%	N/A	-$1.0M-111.1%	$13.0M+30.0%	$23.0M+109.1%	N/A	$9.0M+12.5%
Capital Expenditures	$113.0M-6.6%	$196.0M-6.2%	$301.0M+44.7%	$147.0M+0.7%	$121.0M+5.2%	$209.0M-17.1%	$208.0M+54.1%	$146.0M+5.0%
Free Cash Flow	$446.0M+67.7%	-$163.0Mn/m	$586.0M+324.6%	$538.0M-13.6%	$266.0M+6.4%	-$227.0Mn/m	$138.0M-81.9%	$623.0M-17.3%
Investing Cash Flow	-$179.0Mn/m	-$279.0Mn/m	-$283.0M-145.8%	-$129.0Mn/m	-$120.0Mn/m	-$168.0Mn/m	$618.0Mn/m	-$141.0Mn/m
Financing Cash Flow	-$444.0Mn/m	-$334.0M-147.9%	-$276.0Mn/m	-$306.0Mn/m	-$661.0Mn/m	$698.0Mn/m	-$808.0Mn/m	-$432.0Mn/m
Dividends Paid	$158.0M+2.6%	$159.0M+3.2%	$160.0M+1.3%	$160.0M+0.6%	$154.0M+1.3%	$154.0M+0.7%	$158.0M+3.3%	$159.0M+3.9%
Share Buybacks	$79.0M-45.9%	$96.0M-75.6%	$103.0M-57.3%	$147.0M-26.1%	$146.0M-10.4%	$394.0M+164.4%	$241.0M+180.2%	$199.0Mn/m

PPG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PPG quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	41.3%-0.3pp	41.6%+1.2pp	40.4%+4.3pp	36.1%-2.7pp	38.8%-5.0pp	43.8%+0.9pp	42.9%+1.4pp	41.4%-2.9pp	44.3%	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	16.5%+3.4pp	13.1%+0.2pp	12.9%-2.3pp	15.3%+0.3pp	15.0%+1.2pp	13.8%-1.8pp	15.5%-1.1pp	16.7%+0.6pp	16.1%+1.2pp	14.8%+2.1pp	12.7%+0.7pp	12.1%-0.5pp	12.6%
Net Margin	9.9%+2.9pp	7.0%-0.8pp	7.8%+1.3pp	6.6%-2.0pp	8.6%+0.9pp	7.7%-0.6pp	8.2%-0.5pp	8.7%-2.1pp	10.8%+4.7pp	6.1%-3.8pp	9.9%-4.3pp	14.2%-7.2pp	21.4%+14.4pp	7.0%-1.4pp	8.3%
Return on Equity	19.9%+3.4pp	16.4%+0.2pp	16.2%+0.7pp	15.6%-7.3pp	22.9%+4.3pp	18.6%-4.9pp	23.5%-5.4pp	29.0%+0.3pp	28.7%+10.6pp	18.1%-10.1pp	28.2%-12.4pp	40.6%-24.9pp	65.5%+42.4pp	23.2%-10.5pp	33.7%
Return on Assets	7.1%+1.4pp	5.7%-0.1pp	5.9%+0.9pp	5.0%-1.8pp	6.7%+1.3pp	5.4%-1.6pp	7.0%-1.3pp	8.4%-1.3pp	9.6%+4.1pp	5.5%-2.7pp	8.2%-3.8pp	12.0%-8.4pp	20.4%+14.5pp	5.9%-1.7pp	7.6%
Current Ratio	1.62+0.3x	1.31-0.2x	1.470.0x	1.52+0.1x	1.420.0x	1.410.0x	1.410.0x	1.36-0.3x	1.66+0.1x	1.55+0.1x	1.43+0.1x	1.32-0.4x	1.740.0x	1.73-0.1x	1.81
Debt-to-Equity	0.83+0.1x	0.720.0x	0.73-0.3x	0.99-0.1x	1.05+0.1x	0.910.0x	0.86-0.1x	0.94+0.2x	0.740.0x	0.780.0x	0.81+0.1x	0.680.0x	0.68-0.1x	0.83-0.3x	1.10
Liabilities-to-Equity	1.76-0.1x	1.84+0.1x	1.74-0.4x	2.13-0.2x	2.380.0x	2.42+0.1x	2.33-0.1x	2.44+0.5x	1.96-0.3x	2.25-0.2x	2.410.0x	2.37+0.2x	2.16-0.7x	2.84-0.5x	3.37
Asset Turnover	0.72-0.1x	0.82+0.1x	0.750.0x	0.750.0x	0.79+0.1x	0.71-0.1x	0.86-0.1x	0.96+0.1x	0.890.0x	0.90+0.1x	0.830.0x	0.84-0.1x	0.96+0.1x	0.85-0.1x	0.91
FCF Margin	7.3%+2.9pp	4.4%-7.3pp	11.7%+8.6pp	3.0%-4.0pp	7.1%-6.1pp	13.2%+2.2pp	11.0%+4.1pp	6.9%-1.3pp	8.2%+1.4pp	6.8%-3.5pp	10.3%+3.8pp	6.5%-2.1pp	8.6%-2.2pp	10.8%+2.3pp	8.4%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	40.2%-1.8pp	42.1%+0.2pp	40.8%+0.3pp	40.6%-0.4pp	42.0%-0.1pp	41.9%-0.8pp	40.6%+3.0pp	40.9%+0.2pp
Operating Margin	16.5%-1.2pp	16.2%-0.3pp	N/A	16.9%-0.2pp	17.7%-1.1pp	16.5%-0.8pp	N/A	17.1%+2.1pp
Net Margin	9.7%-1.0pp	9.7%-0.4pp	7.7%+15.2pp	11.1%-0.5pp	10.7%-1.7pp	10.1%-0.3pp	-7.5%-11.3pp	11.6%+2.4pp
Return on Equity	5.2%-0.8pp	4.7%-0.7pp	3.8%+7.9pp	5.8%-0.2pp	5.9%-0.9pp	5.4%+0.3pp	-4.1%-5.3pp	6.0%+0.5pp
Return on Assets	1.9%-0.1pp	1.7%0.0pp	1.4%+2.8pp	2.1%-0.1pp	2.0%-0.4pp	1.8%-0.1pp	-1.4%-1.9pp	2.1%+0.2pp
Current Ratio	1.58+0.2x	1.61+0.3x	1.62+0.3x	1.47-0.1x	1.42-0.1x	1.35-0.2x	1.31-0.2x	1.58+0.1x
Debt-to-Equity	0.730.0x	0.790.0x	0.83+0.1x	0.760.0x	0.780.0x	0.80+0.1x	0.720.0x	0.79+0.1x
Liabilities-to-Equity	1.65-0.2x	1.71-0.3x	1.76-0.1x	1.820.0x	1.89+0.1x	2.03+0.3x	1.84+0.1x	1.780.0x
Asset Turnover	0.200.0x	0.180.0x	0.180.0x	0.180.0x	0.190.0x	0.170.0x	0.19+0.1x	0.180.0x
FCF Margin	9.9%+3.6pp	-4.2%+2.0pp	15.0%+11.3pp	13.2%-2.3pp	6.3%+0.4pp	-6.2%+2.0pp	3.7%-28.8pp	15.4%-0.8pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
PPG Industries, Inc. PPG	FY2025	$15.9B	$1.6B	9.9%	$24.6B	56/100
DuPont de Nemours, Inc. DD	FY2025	$6.8B	-$779.0M	-11.4%	$18.4B	51/100
LyondellBasell Industries N.V. LYB	FY2025	$30.2B	-$738.0M	-2.5%	$21.5B	33/100
RPM International, Inc. RPM	FY2026	$7.9B	$661.4M	8.4%	$12.6B	62/100
International Flavors & Fragrances Inc. IFF	FY2025	$10.9B	-$361.0M	-3.3%	$24.0B	27/100
Air Products & Chemicals, Inc. APD	FY2025	$12.0B	-$394.5M	-3.3%	$68.4B	33/100

Where PPG Industries, Inc. Ranks

Frequently Asked Questions

What is PPG Industries, Inc.'s annual revenue?

PPG Industries, Inc. (PPG) reported $15.9B in total revenue for fiscal year 2025. This represents a 0.2% 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 Industries, Inc.'s revenue growing?

PPG Industries, Inc. (PPG) revenue grew by 0.2% year-over-year, from $15.8B to $15.9B in fiscal year 2025.

Is PPG Industries, Inc. profitable?

Yes, PPG Industries, Inc. (PPG) reported a net income of $1.6B over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $1.6B, with a net profit margin of 9.9%.

How much debt does PPG Industries, Inc. have?

As of fiscal year 2025, PPG Industries, Inc. (PPG) had $2.2B in cash and equivalents against $6.6B in long-term debt.

What is PPG Industries, Inc.'s gross margin?

PPG Industries, Inc. (PPG) had a gross margin of 41.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is PPG Industries, Inc.'s net profit margin?

PPG Industries, Inc. (PPG) had a net profit margin of 9.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does PPG Industries, Inc. pay dividends?

Yes, PPG Industries, Inc. (PPG) paid $2.78 per share in dividends during fiscal year 2025.

What is PPG Industries, Inc.'s return on equity (ROE)?

PPG Industries, Inc. (PPG) has a return on equity of 19.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is PPG Industries, Inc.'s free cash flow?

PPG Industries, Inc. (PPG) generated $1.2B in free cash flow during fiscal year 2025. This represents a 66.4% 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 Industries, Inc.'s operating cash flow?

PPG Industries, Inc. (PPG) generated $1.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are PPG Industries, Inc.'s total assets?

PPG Industries, Inc. (PPG) had $22.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are PPG Industries, Inc.'s capital expenditures?

PPG Industries, Inc. (PPG) invested $778.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does PPG Industries, Inc. spend on research and development?

PPG Industries, Inc. (PPG) invested $446.0M in research and development during fiscal year 2025.

Does PPG Industries, Inc. buy back shares?

Yes, PPG Industries, Inc. (PPG) spent $790.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does PPG Industries, Inc. have outstanding?

PPG Industries, Inc. (PPG) had 223M shares outstanding as of fiscal year 2025.

What is PPG Industries, Inc.'s current ratio?

PPG Industries, Inc. (PPG) had a current ratio of 1.62 as of fiscal year 2025, which is generally considered healthy.

What is PPG Industries, Inc.'s debt-to-equity ratio?

PPG Industries, Inc. (PPG) had a debt-to-equity ratio of 0.83 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is PPG Industries, Inc.'s liabilities-to-equity ratio?

PPG Industries, Inc. (PPG) had a liabilities-to-equity ratio of 1.76 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is PPG Industries, Inc.'s return on assets (ROA)?

PPG Industries, Inc. (PPG) had a return on assets of 7.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is PPG Industries, Inc.'s P/E ratio?

PPG Industries, Inc. (PPG) trades at 15.6x earnings, its market capitalization divided by $1.6B net income, trailing 12 months to June 30, 2026. The market capitalization is $24.6B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is PPG Industries, Inc.'s price-to-sales ratio?

PPG Industries, Inc. (PPG) trades at 1.5x sales, its market capitalization divided by $16.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $24.6B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is PPG Industries, Inc.'s Piotroski F-Score?

PPG Industries, Inc. (PPG) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are PPG Industries, Inc.'s earnings high quality?

PPG Industries, Inc. (PPG) has an earnings quality ratio of 1.23x, 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 Industries, Inc.?

PPG Industries, Inc. (PPG) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.