What is The Sherwin-Williams Company's earnings per share (EPS)?

The Sherwin-Williams Company (SHW) reported diluted earnings per share of $10.26 for fiscal year 2025. This represents a -2.7% 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.

The Sherwin-Williams Company (SHW) Financials

SHW

Trailing 12 months to June 30, 2026

Revenue $24.4B +5.8% YoY

Net Income $2.7B +5.6% YoY

EPS (Diluted) $10.85 +7.6% YoY

Free Cash Flow $3.2B +49.1% YoY

Market Cap $78.8B as of Sep 14, 2026

Price / Sales 3.2x on $24.4B revenue, trailing 12 months to June 30, 2026

Price / Earnings 29.3x on $2.7B net income, trailing 12 months to June 30, 2026

Price / Book 20.4x on $3.9B 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 Sep 14, 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 28, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SHW SEC filings page.

The Sherwin-Williams Company (SHW) reported $24.4B in revenue over the twelve months to Jun 30, 2026, up 5.8% 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 SHW FY2025 2026-08-29

Sherwin-Williams combines gross-margin expansion with cash conversion and a leveraged balance sheet, rather than translating all product-cost gains into net income.

Gross margin widened from 46.7% in FY2023 to 48.9% in FY2025, but bottom-line conversion weakened after FY2024. Net margin fell to 10.9% in FY2025 from 11.6% in FY2024, indicating that gains at the product-cost line were partly absorbed below gross profit.

Operating cash flow exceeded net income in FY2025, showing that reported earnings converted into more operating cash than they contained. Free cash flow recovered to $2.65B as capital expenditures fell 25.5% from FY2024, making investment cadence a major determinant of cash available for financing.

Debt-to-equity declined from 3.5x in FY2021 to 2.0x in FY2025 as equity expanded faster than debt, so leverage eased without becoming immaterial. The FY2025 current ratio was 0.9x, meaning current liabilities exceeded current assets and short-term financing remains reliant on liability management.

Financial Health Signals

Financial Health Score 54/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 The Sherwin-Williams Company'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

The Sherwin-Williams Company's revenue grew a modest 2.1% year-over-year to $23.6B. This slow but positive growth earns a score of 34/100.

Leverage

The Sherwin-Williams Company has a moderate D/E ratio of 2.03. This balance of debt and equity financing earns a leverage score of 31/100.

Liquidity

The Sherwin-Williams Company's current ratio of 0.87 is below the typical benchmark, resulting in a score of 14/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

The Sherwin-Williams Company converts 11.3% of revenue into free cash flow ($2.7B). This strong cash generation earns a score of 67/100.

Returns

The Sherwin-Williams Company earns a strong 55.9% return on equity (ROE), meaning it generates $56 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 93/100. This is down from 66.2% the prior year.

Piotroski F-Score Neutral

6/9

The Sherwin-Williams Company passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.34x

For every $1 of reported earnings, The Sherwin-Williams Company generates $1.34 in operating cash flow ($3.5B OCF vs $2.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$6.8B

YoY+7.5%

QoQ+19.8%

5Y CAGR+4.8%

10Y CAGR+7.7%

The Sherwin-Williams Company generated $6.8B in revenue in Q2 2026. This represents an increase of 7.5% from the same quarter a year earlier. Against the prior quarter it is up 19.8%.

Net Income

$843.6M

YoY+11.8%

QoQ+57.8%

5Y CAGR+5.4%

10Y CAGR+8.4%

The Sherwin-Williams Company reported $843.6M in net income in Q2 2026. This represents an increase of 11.8% from the same quarter a year earlier. Against the prior quarter it is up 57.8%.

EPS (Diluted)

$3.43

YoY+14.3%

QoQ+59.5%

5Y CAGR+7.2%

10Y CAGR-1.5%

The Sherwin-Williams Company earned $3.43 per diluted share (EPS) in Q2 2026. This represents an increase of 14.3% from the same quarter a year earlier. Against the prior quarter it is up 59.5%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$1.2B

YoY+33.1%

QoQ+154787.5%

5Y CAGR+6.2%

10Y CAGR+9.3%

The Sherwin-Williams Company generated $1.2B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 33.1% from the same quarter a year earlier. Against the prior quarter it is up 154787.5%.

Cash & Debt

$293.5M

YoY+8.8%

QoQ+35.3%

5Y CAGR+6.0%

10Y CAGR-3.1%

The Sherwin-Williams Company held $293.5M in cash against $8.3B in long-term debt as of Q2 2026.

Dividends Per Share

$0.80

YoY+1.3%

QoQ0.0%

The Sherwin-Williams Company paid $0.80 per share in dividends in Q2 2026. This represents an increase of 1.3% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

243M

YoY-2.6%

QoQ-1.6%

5Y CAGR-1.6%

10Y CAGR+10.2%

The Sherwin-Williams Company had 243M shares outstanding in Q2 2026. This represents a decrease of 2.6% from the same quarter a year earlier. Against the prior quarter it is down 1.6%.

Margins & Returns

Gross Margin

49.2%

YoY-0.2pp

QoQ+0.1pp

5Y change+4.4pp

10Y change-1.6pp

The Sherwin-Williams Company's gross margin was 49.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Net Margin

12.4%

YoY+0.5pp

QoQ+3.0pp

5Y change+0.4pp

10Y change+0.7pp

The Sherwin-Williams Company's net profit margin was 12.4% in Q2 2026, showing the share of revenue converted to profit. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.0 percentage points.

Return on Equity

21.9%

YoY+4.7pp

QoQ+9.8pp

5Y change-1.0pp

10Y change-8.5pp

The Sherwin-Williams Company's ROE was 21.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 9.8 percentage points.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$1.3B

YoY+143.3%

QoQ+119.1%

5Y CAGR+7.7%

The Sherwin-Williams Company spent $1.3B on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 143.3% from the same quarter a year earlier. Against the prior quarter it is up 119.1%.

Capital Expenditures

$108.4M

YoY-40.3%

QoQ-21.6%

5Y CAGR+4.5%

10Y CAGR+5.7%

The Sherwin-Williams Company invested $108.4M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 40.3% from the same quarter a year earlier. Against the prior quarter it is down 21.6%.

R&D Spending

Not reported for Q2 2026.

SHW 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.

SHW 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	$24.4B	$23.6B+2.1%	$23.1B+0.2%	$23.1B+4.1%	$22.1B+11.1%	$19.9B+8.6%	$18.4B+2.6%	$17.9B+2.1%	$17.5B+17.0%	$15.0B+26.4%	$11.9B+4.6%	$11.3B+1.9%	$11.1B+9.3%	$10.2B+6.8%	$9.5B+8.8%	$8.8B
Cost of Revenue	$12.5B	$12.1B+1.3%	$11.9B-3.2%	$12.3B-4.1%	$12.8B+12.5%	$11.4B+17.8%	$9.7B-1.9%	$9.9B-2.5%	$10.1B+22.4%	$8.3B+39.3%	$5.9B+2.7%	$5.8B-3.1%	$6.0B+7.1%	$5.6B+4.5%	$5.3B+6.1%	$5.0B
Gross Profit	$12.0B	$11.5B+2.9%	$11.2B+4.1%	$10.8B+15.4%	$9.3B+9.2%	$8.5B-1.6%	$8.7B+8.0%	$8.0B+8.3%	$7.4B+10.4%	$6.7B+13.5%	$5.9B+6.5%	$5.6B+7.7%	$5.2B+11.9%	$4.6B+9.8%	$4.2B+12.3%	$3.7B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$51.9M-11.2%	$58.5M+0.7%	$58.0M+0.6%	$57.7M+15.3%	$50.0M+6.3%	$47.0M+5.4%	$44.6M+7.0%	$41.7M
SG&A Expenses	$8.0B	$7.7B+3.7%	$7.4B+5.0%	$7.1B+11.6%	$6.3B+7.6%	$5.9B+7.4%	$5.5B+3.8%	$5.3B+4.8%	$5.0B+4.9%	$4.8B+15.9%	$4.1B+6.6%	$3.9B+1.6%	$3.8B+10.2%	$3.5B+6.4%	$3.3B+10.1%	$3.0B
Operating Income	N/A	N/A	N/A	$4.2B+22.5%	$3.4B+10.2%	$3.1B-8.6%	$3.4B+20.1%	$2.8B+7.6%	$2.6B+16.8%	$2.2B+3.3%	$2.2B+10.2%	$2.0B+15.8%	$1.7B+17.5%	$1.4B+10.3%	$1.3B+32.7%	$985.0M
EBITDA	N/A	N/A	N/A	$4.8B+20.3%	$4.0B+8.8%	$3.7B-7.6%	$4.0B+16.9%	$3.4B+5.5%	$3.2B+17.6%	$2.7B+15.5%	$2.4B+9.2%	$2.2B+14.1%	$1.9B+16.2%	$1.6B+9.7%	$1.5B+27.5%	$1.2B
Interest Expense	$447.5M	$396.2M+11.7%	$354.7M-15.0%	$417.5M+6.8%	$390.8M+16.8%	$334.7M-1.7%	$340.4M-2.5%	$349.3M-4.7%	$366.7M+39.2%	$263.5M+71.0%	$154.1M+149.4%	$61.8M-3.8%	$64.2M+2.4%	$62.7M+46.6%	$42.8M+0.7%	$42.5M
Income Tax	$803.6M	$769.7M-0.1%	$770.4M+6.8%	$721.1M+30.4%	$553.0M+43.9%	$384.2M-21.4%	$488.8M+11.0%	$440.5M+75.5%	$251.0M+183.6%	-$300.2M-164.9%	$462.5M-6.6%	$495.1M+26.2%	$392.3M+17.7%	$333.4M+20.7%	$276.3M-7.8%	$299.7M
Net Income	$2.7B	$2.6B-4.2%	$2.7B+12.2%	$2.4B+18.3%	$2.0B+8.4%	$1.9B-8.2%	$2.0B+31.7%	$1.5B+39.0%	$1.1B-35.8%	$1.7B+52.5%	$1.1B+7.5%	$1.1B+21.7%	$865.9M+15.1%	$752.6M+19.3%	$631.0M+42.8%	$441.9M
EPS (Basic)	N/A	$10.37-2.9%	$10.68+14.2%	$9.35+19.4%	$7.83+10.3%	$7.10-5.1%	$7.48+33.6%	$5.60-53.0%	$11.92-35.9%	$18.60+50.9%	$12.33+7.9%	$11.43+27.0%	$9.00+21.5%	$7.41+20.5%	$6.15+45.7%	$4.22
EPS (Diluted)	$10.85	$10.26-2.7%	$10.55+14.1%	$9.25+19.8%	$7.72+10.6%	$6.98	$7.36+33.8%	$5.50	$11.67-35.9%	$18.20+51.8%	$11.99+7.5%	$11.15+27.1%	$8.77+20.8%	$7.26+20.6%	$6.02+45.4%	$4.14
Diluted Shares (Avg)	N/A	250M-1.5%	254M-1.6%	258M-1.3%	262M-2.0%	267M	276M-1.6%	280M	95M+0.1%	95M+0.5%	94M-0.1%	95M-4.3%	99M-4.2%	103M-0.8%	104M-1.6%	106M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$6.8B+7.5%	$5.7B+6.8%	$5.6B+5.6%	$6.4B+3.2%	$6.3B+0.7%	$5.3B-1.1%	$5.3B+0.9%	$6.2B+0.7%
Cost of Revenue	$3.5B+8.0%	$2.9B+5.1%	$2.9B+5.8%	$3.2B+3.1%	$3.2B-0.4%	$2.7B-3.2%	$2.7B+0.8%	$3.1B-2.0%
Gross Profit	$3.3B+7.0%	$2.8B+8.7%	$2.7B+5.4%	$3.1B+3.2%	$3.1B+1.8%	$2.6B+1.1%	$2.6B+1.0%	$3.0B+3.8%
SG&A Expenses	$2.1B+4.6%	$2.0B+9.8%	$1.9B+2.9%	$2.0B+3.1%	$2.0B+9.0%	$1.8B-0.3%	$1.9B+1.5%	$1.9B+7.8%
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.3B+1.7%
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.5B+1.5%
Interest Expense	$135.9M+20.9%	$131.6M+26.8%	$62.8M+67.5%	$117.2M+13.3%	$112.4M+1.4%	$103.8M+0.8%	$37.5M-60.4%	$103.4M+1.5%
Income Tax	$268.9M+16.4%	$145.1M-2.7%	$162.2M+19.7%	$227.4M+5.0%	$231.0M-18.5%	$149.1M+10.6%	$135.5M+15.0%	$216.6M-12.5%
Net Income	$843.6M+11.8%	$534.7M+6.1%	$476.8M-0.7%	$833.1M+3.3%	$754.7M-15.2%	$503.9M-0.3%	$480.1M+34.8%	$806.2M+5.9%
EPS (Basic)	$3.46+13.8%	$2.18+7.9%	$1.94+1.0%	$3.38+5.0%	$3.04-14.4%	$2.02+1.0%	$1.92+36.2%	$3.22+8.1%
EPS (Diluted)	$3.43+14.3%	$2.15+7.5%	$1.92+1.1%	$3.35+5.3%	$3.00-14.3%	$2.00+1.5%	$1.90+35.7%	$3.18+7.8%
Diluted Shares (Avg)	246M-2.1%	248M-1.7%	N/A	249M-1.9%	251M-1.1%	253M-1.3%	N/A	254M-1.7%

Not reported in any period shown, so not listed: R&D Expenses.

SHW Balance Sheet

SHW 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	$25.9B+9.6%	$23.6B+3.0%	$23.0B+1.6%	$22.6B+9.3%	$20.7B+1.3%	$20.4B-0.5%	$20.5B+7.1%	$19.1B-3.8%	$19.9B+194.7%	$6.8B+16.8%	$5.8B+1.4%	$5.7B-10.7%	$6.4B+2.4%	$6.2B+19.2%	$5.2B
Current Assets	$6.0B+11.2%	$5.4B-2.0%	$5.5B-6.7%	$5.9B+16.9%	$5.1B+10.1%	$4.6B-0.9%	$4.6B+6.6%	$4.3B-1.4%	$4.4B+21.5%	$3.6B+36.5%	$2.7B+3.6%	$2.6B-18.8%	$3.2B+0.3%	$3.1B+39.2%	$2.3B
Cash & Equivalents	$207.2M-1.5%	$210.4M-24.0%	$276.8M+39.2%	$198.8M+20.0%	$165.7M-26.9%	$226.6M+40.0%	$161.8M+4.1%	$155.5M-23.8%	$204.2M-77.1%	$889.8M+332.5%	$205.7M+405.1%	$40.7M-94.5%	$744.9M-13.6%	$862.6M+2538.2%	$32.7M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$2.3B+1.3%	$2.3B-1.8%	$2.3B-11.3%	$2.6B+36.3%	$1.9B+6.8%	$1.8B-4.5%	$1.9B+4.1%	$1.8B+4.2%	$1.7B+63.1%	$1.1B+4.9%	$1.0B-1.5%	$1.0B+6.5%	$970.8M+5.5%	$920.3M-0.7%	$926.8M
Accounts Receivable	$2.8B+16.8%	$2.4B-3.2%	$2.5B-3.7%	$2.6B+9.0%	$2.4B+13.2%	$2.1B-0.5%	$2.1B+3.5%	$2.0B-4.1%	$2.1B+71.0%	$1.2B+10.5%	$1.1B-1.4%	$1.1B+3.0%	$1.1B+6.3%	$1.0B+4.3%	$989.9M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$8.0B+6.0%	$7.6B-0.6%	$7.6B+0.6%	$7.6B+6.3%	$7.1B+1.2%	$7.0B+0.6%	$7.0B+0.7%	$7.0B+2.1%	$6.8B+504.7%	$1.1B-1.4%	$1.1B-1.3%	$1.2B-1.7%	$1.2B+2.0%	$1.2B+4.3%	$1.1B
Total Liabilities	$21.3B+8.8%	$19.6B+1.8%	$19.2B-1.3%	$19.5B+6.9%	$18.2B+8.6%	$16.8B+2.6%	$16.4B+6.3%	$15.4B-5.2%	$16.3B+233.4%	$4.9B-0.8%	$4.9B+4.4%	$4.7B+2.1%	$4.6B+3.7%	$4.4B+19.7%	$3.7B
Current Liabilities	$6.9B+1.6%	$6.8B+2.7%	$6.6B+11.2%	$6.0B+4.2%	$5.7B+24.5%	$4.6B+1.6%	$4.5B+5.2%	$4.3B+7.8%	$4.0B+40.9%	$2.8B+32.1%	$2.1B-20.1%	$2.7B+6.0%	$2.5B+34.8%	$1.9B-13.2%	$2.2B
Non-Current Liabilities	$14.4B+12.6%	$12.8B+1.3%	$12.6B-6.8%	$13.5B+8.2%	$12.5B+2.6%	$12.2B+2.9%	$11.9B+6.7%	$11.1B-9.4%	$12.3B+499.7%	$2.0B-26.2%	$2.8B+36.9%	$2.0B-2.8%	$2.1B-19.0%	$2.6B+65.6%	$1.5B
Long-Term Debt	$9.3B+14.0%	$8.2B-2.4%	$8.4B-12.6%	$9.6B+11.6%	$8.6B+3.9%	$8.3B+2.7%	$8.1B-7.5%	$8.7B-11.9%	$9.9B+716.1%	$1.2B-36.5%	$1.9B+70.9%	$1.1B-0.6%	$1.1B-31.2%	$1.6B+155.3%	$639.2M
Total Equity	$4.6B+13.5%	$4.1B+9.0%	$3.7B+19.8%	$3.1B+27.3%	$2.4B-32.5%	$3.6B-12.4%	$4.1B+10.5%	$3.7B+2.3%	$3.6B+94.2%	$1.9B+116.4%	$867.9M-12.9%	$996.5M-43.8%	$1.8B-1.0%	$1.8B+18.1%	$1.5B
Retained Earnings	$1.0B-85.8%	$7.2B+37.0%	$5.3B+50.1%	$3.5B+66.1%	$2.1B+151.3%	$844.3M-88.5%	$7.4B+17.9%	$6.2B+14.4%	$5.5B+34.8%	$4.0B+25.4%	$3.2B+33.2%	$2.4B+36.7%	$1.8B+44.6%	$1.2B+62.2%	$756.4M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$27.0B+6.3%	$26.4B+7.1%	$25.9B+9.6%	$26.2B+9.3%	$25.4B+6.9%	$24.6B+5.2%	$23.6B+3.0%	$24.0B+4.2%
Current Assets	$7.0B+8.9%	$6.5B+7.6%	$6.0B+11.2%	$6.1B+2.9%	$6.4B+6.2%	$6.0B+3.4%	$5.4B-2.0%	$6.0B-3.6%
Cash & Equivalents	$293.5M+8.8%	$216.9M+8.6%	$207.2M-1.5%	$241.5M+1.4%	$269.8M+34.9%	$199.8M+11.1%	$210.4M-24.0%	$238.2M-52.7%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$2.5B+1.8%	$2.5B-1.7%	$2.3B+1.3%	$2.3B+0.4%	$2.5B+8.5%	$2.5B+5.8%	$2.3B-1.8%	$2.3B+1.0%
Accounts Receivable	$3.6B+14.8%	$3.2B+13.5%	$2.8B+16.8%	$3.1B+5.0%	$3.1B+2.1%	$2.8B+0.1%	$2.4B-3.2%	$3.0B+1.1%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$8.0B+2.8%	$8.0B+3.8%	$8.0B+6.0%	$7.8B+1.8%	$7.8B+2.6%	$7.7B+1.1%	$7.6B-0.6%	$7.7B+3.3%
Total Liabilities	$23.1B+10.2%	$21.9B+7.0%	$21.3B+8.8%	$21.8B+9.9%	$21.0B+4.9%	$20.5B+2.9%	$19.6B+1.8%	$19.8B+3.1%
Current Liabilities	$9.6B+17.5%	$7.5B-4.3%	$6.9B+1.6%	$7.5B+3.5%	$8.2B+9.8%	$7.9B+5.3%	$6.8B+2.7%	$7.2B+9.0%
Non-Current Liabilities	$13.5B+5.5%	$14.4B+14.1%	$14.4B+12.6%	$14.3B+13.6%	$12.8B+2.0%	$12.6B+1.5%	$12.8B+1.3%	$12.6B-0.1%
Long-Term Debt	$8.3B+6.4%	$9.3B+19.1%	$9.3B+14.0%	$9.3B+14.0%	$7.8B-3.7%	$7.8B-3.7%	$8.2B-2.4%	$8.2B-3.8%
Total Equity	$3.9B-12.4%	$4.4B+7.3%	$4.6B+13.5%	$4.4B+6.5%	$4.4B+17.3%	$4.1B+17.9%	$4.1B+9.0%	$4.2B+9.9%
Retained Earnings	$2.0B-75.2%	$1.4B-81.9%	$1.0B-85.8%	$8.7B+25.9%	$8.1B+28.2%	$7.5B+34.6%	$7.2B+37.0%	$6.9B+36.5%

SHW Cash Flow Statement

SHW 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	$3.9B	$3.5B+9.5%	$3.2B-10.5%	$3.5B+83.4%	$1.9B-14.5%	$2.2B-34.1%	$3.4B+46.8%	$2.3B+19.4%	$1.9B+3.2%	$1.9B+44.0%	$1.3B-9.6%	$1.4B+33.8%	$1.1B-0.2%	$1.1B+22.1%	$887.9M+20.7%	$735.8M
Depreciation & Amortization	N/A	$681.3M+9.1%	$624.7M+0.4%	$622.5M+7.1%	$581.1M+1.5%	$572.6M-1.5%	$581.4M+1.1%	$574.9M-3.6%	$596.3M+21.2%	$491.8M+149.0%	$197.5M-0.5%	$198.6M-0.2%	$198.9M+5.9%	$187.8M+4.8%	$179.2M-0.9%	$180.9M
Stock-Based Compensation	N/A	$123.5M-10.6%	$138.1M+19.2%	$115.9M+16.2%	$99.7M+2.0%	$97.7M+1.9%	$95.9M-5.7%	$101.7M+23.1%	$82.6M-8.5%	$90.3M+25.2%	$72.1M-0.3%	$72.3M+11.8%	$64.7M+11.6%	$58.0M+6.7%	$54.3M+12.8%	$48.2M
Capital Expenditures	$673.5M	$797.6M-25.5%	$1.1B+20.4%	$888.4M+37.8%	$644.5M+73.3%	$372.0M+22.4%	$303.8M-7.6%	$328.9M+31.0%	$251.0M+12.7%	$222.8M-6.8%	$239.0M+2.0%	$234.3M+16.9%	$200.5M+20.3%	$166.7M+6.1%	$157.1M+2.2%	$153.8M
Free Cash Flow	$3.2B	$2.7B+27.4%	$2.1B-20.9%	$2.6B+106.5%	$1.3B-31.9%	$1.9B-39.7%	$3.1B+55.8%	$2.0B+17.7%	$1.7B+1.9%	$1.7B+55.3%	$1.1B-11.8%	$1.2B+37.7%	$881.0M-3.9%	$917.1M+25.5%	$730.8M+25.6%	$582.0M
Investing Cash Flow	-$1.9B	-$2.1B-72.7%	-$1.2B-15.1%	-$1.0B+35.4%	-$1.6B-237.4%	-$476.4M-47.8%	-$322.4M+30.3%	-$462.6M-83.9%	-$251.6M+97.2%	-$9.0B-2878.3%	-$303.8M-5.2%	-$288.6M+6.9%	-$310.1M+8.4%	-$338.3M+1.2%	-$342.5M-23.3%	-$277.8M
Financing Cash Flow	-$2.0B	-$1.4B+31.7%	-$2.0B+16.8%	-$2.4B-758.6%	-$282.4M+84.6%	-$1.8B+39.3%	-$3.0B-63.6%	-$1.8B-5.7%	-$1.7B-126.8%	$6.5B+2219.4%	-$307.4M+68.6%	-$980.4M+33.2%	-$1.5B-71.9%	-$853.3M-397.8%	$286.6M+160.3%	-$475.2M
Dividends Paid	$786.1M	$789.8M+9.2%	$723.4M+16.0%	$623.7M+0.8%	$618.5M+5.3%	$587.1M+20.3%	$488.0M+16.0%	$420.8M+30.3%	$322.9M+1.2%	$319.0M+2.2%	$312.1M+25.0%	$249.6M+16.0%	$215.3M+5.0%	$205.0M+27.4%	$160.9M+4.8%	$153.5M
Share Buybacks	$2.6B	$1.7B-4.7%	$1.7B+21.4%	$1.4B+62.1%	$883.2M-67.9%	$2.8B+12.5%	$2.4B+214.1%	$778.8M+27.0%	$613.3M	N/A	$0-100.0%	$1.0B-30.5%	$1.5B+93.5%	$769.3M+37.9%	$557.8M+51.8%	$367.4M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.3B+21.1%	$139.1M+327.7%	$1.1B+16.9%	$1.3B+21.7%	$1.1B-7.5%	-$61.1M-3.7%	$934.5M+1.7%	$1.1B-17.9%
Depreciation & Amortization	$186.4M+14.6%	$186.8M+16.1%	$186.4M+15.1%	$166.9M+7.3%	$162.7M+6.1%	$160.9M+5.0%	$161.9M+4.9%	$155.6M+0.1%
Stock-Based Compensation	N/A	$29.5M+10.9%	N/A	N/A	N/A	$26.6M+8.1%	N/A	N/A
Capital Expenditures	$108.4M-40.3%	$138.3M-26.9%	$230.4M-23.2%	$196.4M-16.5%	$181.5M-27.7%	$189.3M-33.3%	$300.0M-6.1%	$235.3M+53.9%
Free Cash Flow	$1.2B+33.1%	$800K+100.3%	$862.1M+35.9%	$1.1B+32.4%	$931.1M-2.2%	-$250.4M+26.9%	$634.5M+5.9%	$839.4M-27.4%
Investing Cash Flow	-$207.7M+13.9%	-$170.5M+46.1%	-$171.6M+39.9%	-$1.3B-306.9%	-$241.1M+7.6%	-$316.2M+1.6%	-$285.5M+46.2%	-$328.7M-260.8%
Financing Cash Flow	-$1.1B-31.4%	$47.6M-87.0%	-$942.3M-40.5%	$6.5M+100.9%	-$810.0M+11.7%	$367.2M+26.8%	-$670.8M-4.9%	-$718.5M+21.5%
Dividends Paid	$197.5M-0.2%	$197.1M-1.6%	$195.8M+8.9%	$195.7M+7.2%	$197.9M+10.8%	$200.4M+9.8%	$179.8M+15.8%	$182.5M+17.3%
Share Buybacks	$1.3B+143.3%	$575.6M+63.7%	$118.0M-62.0%	$668.2M+48.9%	$518.5M+19.4%	$351.7M-35.5%	$310.2M-36.2%	$448.7M+9.4%

SHW 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.

SHW 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	48.9%+0.4pp	48.5%+1.8pp	46.7%+4.6pp	42.1%-0.7pp	42.8%-4.5pp	47.3%+2.4pp	44.9%+2.6pp	42.3%-2.5pp	44.8%-5.1pp	49.9%+0.9pp	49.0%+2.6pp	46.4%+1.1pp	45.3%+1.2pp	44.1%+1.4pp	42.7%
Operating Margin	N/A	N/A	18.1%+2.7pp	15.3%-0.1pp	15.5%-2.9pp	18.4%+2.7pp	15.7%+0.8pp	14.9%0.0pp	14.9%-3.3pp	18.3%+0.9pp	17.3%+2.1pp	15.2%+1.1pp	14.2%+0.5pp	13.7%+2.5pp	11.2%
Net Margin	10.9%-0.7pp	11.6%+1.2pp	10.4%+1.2pp	9.1%-0.2pp	9.3%-1.7pp	11.1%+2.5pp	8.6%+2.3pp	6.3%-5.2pp	11.5%+2.0pp	9.6%+0.3pp	9.3%+1.5pp	7.8%+0.4pp	7.4%+0.8pp	6.6%+1.6pp	5.0%
Return on Equity	55.9%-10.3pp	66.2%+1.9pp	64.3%-0.8pp	65.1%-11.4pp	76.5%+20.3pp	56.2%+18.9pp	37.4%+7.7pp	29.7%-17.6pp	47.4%-12.9pp	60.3%-61.1pp	121.4%+34.5pp	86.9%+44.5pp	42.4%+7.2pp	35.2%+6.1pp	29.1%
Return on Assets	9.9%-1.4pp	11.3%+0.9pp	10.4%+1.5pp	8.9%-0.1pp	9.0%-0.9pp	10.0%+2.4pp	7.5%+1.7pp	5.8%-2.9pp	8.7%-8.1pp	16.8%-1.5pp	18.2%+3.0pp	15.2%+3.4pp	11.8%+1.7pp	10.1%+1.7pp	8.5%
Current Ratio	0.87+0.1x	0.790.0x	0.83-0.2x	0.99+0.1x	0.88-0.1x	1.000.0x	1.020.0x	1.01-0.1x	1.11-0.2x	1.280.0x	1.24+0.3x	0.96-0.3x	1.25-0.4x	1.68+0.6x	1.05
Debt-to-Equity	2.030.0x	2.02-0.2x	2.25-0.8x	3.09-0.4x	3.52+1.2x	2.29+0.3x	1.95-0.4x	2.33-0.4x	2.71+2.1x	0.64-1.6x	2.20+1.1x	1.12+0.5x	0.63-0.3x	0.91+0.5x	0.42
Asset Turnover	0.91-0.1x	0.980.0x	1.000.0x	0.980.0x	0.97+0.1x	0.900.0x	0.870.0x	0.92+0.2x	0.75-1.0x	1.76-0.2x	1.960.0x	1.95+0.4x	1.60+0.1x	1.53-0.1x	1.68
FCF Margin	11.3%+2.2pp	9.0%-2.4pp	11.4%+5.7pp	5.8%-3.6pp	9.4%-7.5pp	16.9%+5.8pp	11.1%+1.5pp	9.7%-1.4pp	11.1%+2.1pp	9.0%-1.7pp	10.7%+2.8pp	7.9%-1.1pp	9.0%+1.3pp	7.7%+1.0pp	6.6%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	49.2%-0.2pp	49.1%+0.8pp	48.5%-0.1pp	49.2%0.0pp	49.4%+0.5pp	48.2%+1.1pp	48.6%+0.1pp	49.1%+1.5pp
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	21.4%+0.2pp
Net Margin	12.4%+0.5pp	9.4%-0.1pp	8.5%-0.5pp	13.1%0.0pp	11.9%-2.2pp	9.5%+0.1pp	9.1%+2.3pp	13.1%+0.6pp
Return on Equity	21.9%+4.7pp	12.1%-0.1pp	10.4%-1.5pp	18.8%-0.6pp	17.2%-6.6pp	12.2%-2.2pp	11.8%+2.3pp	19.4%-0.8pp
Return on Assets	3.1%+0.2pp	2.0%0.0pp	1.8%-0.2pp	3.2%-0.2pp	3.0%-0.8pp	2.1%-0.1pp	2.0%+0.5pp	3.4%+0.1pp
Current Ratio	0.73-0.1x	0.86+0.1x	0.87+0.1x	0.820.0x	0.780.0x	0.770.0x	0.790.0x	0.83-0.1x
Debt-to-Equity	2.16+0.4x	2.10+0.2x	2.030.0x	2.11+0.1x	1.78-0.4x	1.90-0.4x	2.02-0.2x	1.97-0.3x
Asset Turnover	0.250.0x	0.210.0x	0.220.0x	0.240.0x	0.250.0x	0.220.0x	0.220.0x	0.260.0x
FCF Margin	18.3%+3.5pp	0.0%+4.7pp	15.4%+3.4pp	17.5%+3.9pp	14.8%-0.4pp	-4.7%+1.7pp	12.0%+0.6pp	13.6%-5.3pp

Note: The current ratio is below 1.0 (0.87), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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
The Sherwin-Williams Company SHW	FY2025	$23.6B	$2.6B	10.9%	$78.8B	54/100
Ecolab, Inc. ECL	FY2025	$16.1B	$2.1B	12.9%	$77.4B	55/100
Air Products & Chemicals, Inc. APD	FY2025	$12.0B	-$394.5M	-3.3%	$64.9B	34/100
DuPont de Nemours, Inc. DD	FY2025	$6.8B	$88.0M	1.3%	$17.1B	38/100
PPG Industries, Inc. PPG	FY2025	$15.9B	$1.6B	9.9%	$23.5B	58/100
RPM International, Inc. RPM	FY2026	$7.9B	$662.0M	8.4%	$12.8B	35/100

Where The Sherwin-Williams Company Ranks

Frequently Asked Questions

What is The Sherwin-Williams Company's annual revenue?

The Sherwin-Williams Company (SHW) reported $23.6B in total revenue for fiscal year 2025. This represents a 2.1% 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 The Sherwin-Williams Company's revenue growing?

The Sherwin-Williams Company (SHW) revenue grew by 2.1% year-over-year, from $23.1B to $23.6B in fiscal year 2025.

Is The Sherwin-Williams Company profitable?

Yes, The Sherwin-Williams Company (SHW) reported a net income of $2.6B in fiscal year 2025, with a net profit margin of 10.9%.

How much debt does The Sherwin-Williams Company have?

As of fiscal year 2025, The Sherwin-Williams Company (SHW) had $207.2M in cash and equivalents against $9.3B in long-term debt.

What is The Sherwin-Williams Company's gross margin?

The Sherwin-Williams Company (SHW) had a gross margin of 48.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is The Sherwin-Williams Company's net profit margin?

The Sherwin-Williams Company (SHW) had a net profit margin of 10.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does The Sherwin-Williams Company pay dividends?

Yes, The Sherwin-Williams Company (SHW) paid $3.16 per share in dividends during fiscal year 2025.

What is The Sherwin-Williams Company's return on equity (ROE)?

The Sherwin-Williams Company (SHW) has a return on equity of 55.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is The Sherwin-Williams Company's free cash flow?

The Sherwin-Williams Company (SHW) generated $2.7B in free cash flow during fiscal year 2025. This represents a 27.4% 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 The Sherwin-Williams Company's operating cash flow?

The Sherwin-Williams Company (SHW) generated $3.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are The Sherwin-Williams Company's total assets?

The Sherwin-Williams Company (SHW) had $25.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are The Sherwin-Williams Company's capital expenditures?

The Sherwin-Williams Company (SHW) invested $797.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does The Sherwin-Williams Company buy back shares?

Yes, The Sherwin-Williams Company (SHW) spent $1.7B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does The Sherwin-Williams Company have outstanding?

The Sherwin-Williams Company (SHW) had 248M shares outstanding as of fiscal year 2025.

What is The Sherwin-Williams Company's current ratio?

The Sherwin-Williams Company (SHW) had a current ratio of 0.87 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is The Sherwin-Williams Company's debt-to-equity ratio?

The Sherwin-Williams Company (SHW) had a debt-to-equity ratio of 2.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is The Sherwin-Williams Company's return on assets (ROA)?

The Sherwin-Williams Company (SHW) had a return on assets of 9.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is The Sherwin-Williams Company's P/E ratio?

The Sherwin-Williams Company (SHW) trades at 29.3x earnings, its market capitalization divided by net income of $2.7B net income, trailing 12 months to June 30, 2026. The market capitalization is $78.8B as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is The Sherwin-Williams Company's price-to-sales ratio?

The Sherwin-Williams Company (SHW) trades at 3.2x sales, its market capitalization divided by revenue of $24.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $78.8B as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is The Sherwin-Williams Company's Piotroski F-Score?

The Sherwin-Williams Company (SHW) 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 The Sherwin-Williams Company's earnings high quality?

The Sherwin-Williams Company (SHW) has an earnings quality ratio of 1.34x, 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 The Sherwin-Williams Company?

The Sherwin-Williams Company (SHW) scores 54 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite 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.