A Business at a Glance
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SHERWIN WILLIAMS CO
SHW
$79.5B
Mkt Cap
$317.51
+2.24%
SHERWIN WILLIAMS CO (SHW) has a current P/E ratio of 30.9, compared to its historical median P/E of 31.7. The stock is currently considered Fair based on its historical valuation range.
SHERWIN WILLIAMS CO (SHW) has a 5-year average return on invested capital (ROIC) of 21.7%. This indicates strong capital allocation and a potential competitive advantage.
SHERWIN WILLIAMS CO (SHW) has a market capitalization of $78.3B. It is classified as a large-cap stock.
Yes, SHERWIN WILLIAMS CO (SHW) pays a dividend with a trailing twelve-month yield of 1.00%. The company also returns capital through share buybacks, with a buyback yield of 2.40%.
Based on historical P/E analysis, SHERWIN WILLIAMS CO (SHW) appears fair. The current P/E of 30.9 is 2% below its historical median of 31.7. The estimated fair value CAGR (P/E method) is 11.8%.
SHERWIN WILLIAMS CO (SHW) operates in the Retail-Building Materials, Hardware, Garden Supply industry, within the Consumer Cyclical sector.
SHERWIN WILLIAMS CO (SHW) reported annual revenue of $23.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Sherwin-Williams is a leading manufacturer and retailer of paint, coatings, and related products serving professional, industrial, commercial, and retail customers primarily across North and South America, with additional operations in the Caribbean, Europe, Asia, and Australia. The company operates through three reportable segments: Paint Stores Group (4,853 company-operated specialty paint stores in the United States, Canada, and the Caribbean serving architectural and industrial contractors and do-it-yourself homeowners), Consumer Brands Group (manufacturing and distributing branded and private-label architectural paints, stains, industrial products, wood finishes, and related items to retailers and distributors across North America, Latin America, and Europe, plus 307 company-operated stores in Latin America), and Performance Coatings Group (developing and selling industrial coatings for wood finishing, general industrial applications, automotive refinish, protective and marine coatings, coil coatings, and packaging coatings worldwide). The business model relies on direct distribution through company-operated stores and sales staff, supplemented by third-party retailers and distributors, with raw materials sourced globally from multiple suppliers and derived primarily from petrochemical feedstocks. Competitive differentiation is driven by product quality, innovation, breadth of product line, technical expertise, service, and pricing, supported by a portfolio of owned and licensed trademarks including Sherwin-Williams®, Valspar®, Krylon®, Dutch Boy®, and Minwax®. The company employs 64,249 people worldwide, with approximately 73% based in the United States, and generates significant revenue from intersegment transfers, particularly from Consumer Brands Group to Paint Stores Group.
【Share gains amid soft demand】 Management expects the demand environment to remain challenging through 2026, with the architectural market facing headwinds from soft residential repaint demand, difficult new residential conditions, and continued commercial weakness, though the company anticipates outperforming the market through aggressive share-gain initiatives and targeted investments in customer relationships. Raw material inflation is expected in the low to mid-single-digit range for the full year, driven by propylene pricing pressures related to Middle East disruptions and elevated solvent costs, which management plans to offset through incremental targeted pricing actions and accelerated cost reduction initiatives. The company expects consolidated price mix to increase to the high end of the low single-digit range and is implementing strategic price increases across segments, with Paint Stores Group's January increase trending slightly better than expected. Management remains focused on disciplined capital allocation, including opening 80–100 net new stores in the United States and Canada, opportunistic share repurchases, and continued evaluation of acquisitions that accelerate strategy, while maintaining gross margin expansion expectations despite near-term cost pressures.
| Metric | Target | Period |
|---|---|---|
| Consolidated sales | low- to mid-single-digit % increase | FY2026 |
| Adjusted diluted net income per share | $11.50–$11.90 | FY2026 |
| Consolidated price mix | high end of low single-digit range | FY2026 |
| Net new stores | 80–100 | FY2026 |
Consolidated sales (FY2026): “consolidated sales are expected to be up a low- to mid-single-digit %”
Adjusted diluted net income per share (FY2026): “adjusted diluted net income per share is expected in the range of $11.50-$11.90”
Consolidated price mix (FY2026): “our expectation for consolidated price mix for the year increases to the high end of our low single-digit range”
Net new stores (FY2026): “We still expect to open 80-100 new stores for the year”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Paint Stores Group | $10.62B | $11.96B | $12.84B | $13.19B | $13.61B | 32% |
Operating Segments | $11.22B | $12.66B | $12.84B | $13.19B | $13.61B | 32% |
Performance Coatings Group | $6.00B | $6.79B | $6.84B | $6.80B | $6.80B | 16% |
Intersegment transfers | $-150M | $5.21B | $5.23B | $5.30B | $5.39B | 13% |
Consumer Brands Group | $3.32B | $3.39B | $3.37B | $3.11B | $3.17B | 7% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 23.9B | 23.6B | 23.1B | 23.1B | 22.1B | 19.9B |
| Net Income | 2.6B | 2.6B | 2.7B | 2.4B | 2.0B | 1.9B |
| EPS | $10.48 | $10.26 | $10.55 | $9.25 | $7.72 | $6.98 |
| Free Cash Flow | 2.9B | 2.7B | 2.1B | 2.6B | 1.3B | 1.9B |
| ROIC | 18.9% | 19.8% | 21.9% | 23.9% | 21.0% | 21.7% |
| Gross Margin | 49.0% | 48.8% | 48.5% | 46.7% | 42.1% | 42.8% |
| Debt/Equity | 2.64 | 2.36 | 2.44 | 2.65 | 3.41 | 3.95 |
| Dividends/Share | $3.19 | $3.16 | $2.86 | $2.42 | $2.40 | $2.20 |
| Operating Income | 13M | 3.7B | 3.8B | 4.2B | 3.4B | 3.1B |
| Operating Margin | 0.1% | 15.8% | 16.5% | 18.1% | 15.3% | 15.5% |
| ROE | 58.7% | 59.4% | 69.0% | 70.1% | 72.9% | 61.7% |
| Shares Outstanding | 247M | 250M | 254M | 258M | 262M | 267M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 11.1B | 11.3B | 11.9B | 15.0B | 17.5B | 17.9B | 18.4B | 19.9B | 22.1B | 23.1B | 23.1B | 23.6B | 23.9B |
| Gross Margin | 46.4% | 49.0% | 49.9% | 44.8% | 42.3% | 44.9% | 47.3% | 42.8% | 42.1% | 46.7% | 48.5% | 48.8% | 49.0% |
| R&D | 50M | 58M | 58M | 58M | 52M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 3.8B | 3.9B | 4.1B | 4.8B | 5.0B | 5.3B | 5.5B | 5.9B | 6.3B | 7.1B | 7.4B | 7.7B | 7.9B |
| EBIT | 1.7B | 2.0B | 2.2B | 2.2B | 2.6B | 2.8B | 3.4B | 3.1B | 3.4B | 4.2B | 3.8B | 3.7B | 13M |
| Op. Margin | 15.2% | 17.3% | 18.3% | 14.9% | 14.9% | 15.7% | 18.4% | 15.5% | 15.3% | 18.1% | 16.5% | 15.8% | 0.1% |
| Net Income | 861M | 1.0B | 1.1B | 1.7B | 1.1B | 1.5B | 2.0B | 1.9B | 2.0B | 2.4B | 2.7B | 2.6B | 2.6B |
| Net Margin | 7.7% | 9.3% | 9.6% | 11.5% | 6.3% | 8.6% | 11.1% | 9.3% | 9.1% | 10.4% | 11.6% | 10.9% | 10.9% |
| Non-Recurring | 12M | 11M | 44M | 47M | 2.1M | 115M | 12M | 6.1M | 81M | 72M | 50M | 163M | 163M |
| Returns on Capital | |||||||||||||
| ROIC | 39.9% | 48.0% | 54.0% | 26.4% | 15.7% | 17.1% | 22.4% | 21.7% | 21.0% | 23.9% | 21.9% | 19.8% | 18.9% |
| ROE | 62.1% | 112.6% | 82.5% | 62.5% | 30.1% | 39.2% | 52.5% | 61.7% | 72.9% | 70.1% | 69.0% | 59.4% | 58.7% |
| ROA | 14.3% | 18.3% | 18.1% | 13.0% | 5.7% | 7.8% | 9.9% | 9.1% | 9.3% | 10.5% | 11.5% | 10.4% | 9.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.1B | 1.4B | 1.3B | 1.9B | 1.9B | 2.3B | 3.4B | 2.2B | 1.9B | 3.5B | 3.2B | 3.5B | 3.7B |
| Free Cash Flow | 881M | 1.2B | 1.1B | 1.7B | 1.7B | 2.0B | 3.1B | 1.9B | 1.3B | 2.6B | 2.1B | 2.7B | 2.9B |
| Owner Earnings | 818M | 1.2B | 1.0B | 1.3B | 1.3B | 1.6B | 2.7B | 1.6B | 1.2B | 2.8B | 2.4B | 2.7B | 216M |
| CapEx | 201M | 234M | 239M | 223M | 251M | 329M | 304M | 372M | 645M | 888M | 1.1B | 798M | 747M |
| Maint. CapEx | 199M | 199M | 197M | 492M | 596M | 575M | 581M | 573M | 581M | 623M | 624M | 677M | 3.3B |
| Growth CapEx | 1.6M | 36M | 42M | 0 | 0 | 0 | 0 | 0 | 63M | 266M | 446M | 121M | 0 |
| D&A | 199M | 199M | 197M | 492M | 596M | 575M | 581M | 573M | 581M | 623M | 624M | 677M | 3.3B |
| CapEx/OCF | 18.5% | 16.2% | 18.3% | 11.8% | 12.9% | 14.2% | 8.9% | 16.6% | 33.6% | 25.2% | 33.9% | 23.1% | 20.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 215M | 250M | 312M | 319M | 323M | 421M | 488M | 587M | 619M | 624M | 723M | 790M | 787M |
| Dividend Yield | 1.2% | 1.1% | 1.3% | 1.1% | 0.9% | 0.3% | 0.3% | 0.8% | 1.0% | 1.0% | 0.9% | 0.9% | 1.0% |
| Share Buybacks | 1.5B | 1.0B | 0 | 0 | 613M | 779M | 2.4B | 2.8B | 883M | 1.4B | 1.7B | 1.7B | 1.9B |
| Buyback Yield | 6.3% | 4.6% | N/A | N/A | 1.8% | 1.5% | 3.8% | 3.1% | 1.5% | 1.8% | 2.0% | 2.0% | 2.4% |
| Stock-Based Comp | 65M | 72M | 72M | 90M | 83M | 102M | 96M | 98M | 100M | 116M | 138M | 124M | 126M |
| Debt Repayment | 501M | 0 | 1.1M | 1.9B | 853M | 1.9B | 1.2B | 423M | 260M | 136M | 1.1B | 1.1B | 1.1B |
| Balance Sheet | |||||||||||||
| Net Debt | 1.8B | 1.7B | 1.1B | 10.3B | 9.2B | 8.5B | 8.1B | 9.4B | 10.4B | 9.6B | 9.7B | 10.7B | 11.5B |
| Cash & Equiv. | 41M | 206M | 890M | 204M | 156M | 162M | 227M | 166M | 199M | 277M | 210M | 207M | 217M |
| Long-Term Debt | 1.1B | 1.9B | 1.2B | 9.9B | 8.7B | 8.1B | 8.3B | 8.6B | 9.6B | 8.4B | 8.2B | 9.3B | 9.3B |
| Debt/Equity | 1.81 | 2.25 | 1.04 | 2.88 | 2.50 | 2.11 | 2.30 | 3.95 | 3.41 | 2.65 | 2.44 | 2.36 | 2.64 |
| Interest Coverage | 26.4 | 31.8 | 14.0 | 8.5 | 7.1 | 8.0 | 9.9 | 9.2 | 8.7 | 10.0 | 10.7 | 9.4 | 0.4 |
| Equity | 996M | 868M | 1.9B | 3.6B | 3.7B | 4.1B | 3.6B | 2.4B | 3.1B | 3.7B | 4.1B | 4.6B | 4.4B |
| Total Assets | 5.7B | 5.8B | 6.8B | 19.9B | 19.1B | 20.5B | 20.4B | 20.7B | 22.6B | 23.0B | 23.6B | 25.9B | 26.4B |
| Total Liabilities | 4.7B | 4.9B | 4.9B | 16.3B | 15.4B | 16.4B | 16.8B | 18.2B | 19.5B | 19.2B | 19.6B | 21.3B | 7.3M |
| Intangibles | 289M | 255M | 255M | 6.0B | 5.2B | 4.7B | 4.5B | 4.0B | 4.0B | 3.9B | 3.5B | 4.0B | 3.9B |
| Retained Earnings | 2.4B | 3.2B | 4.0B | 5.5B | 6.2B | 7.4B | 844M | 2.1B | 3.5B | 5.3B | 7.2B | 1.0B | 1.4B |
| Working Capital | -115M | 515M | 798M | 420M | 47M | 110M | -3.0M | -666M | -53M | -1.1B | -1.4B | -913M | -1.0B |
| Current Assets | 2.6B | 2.7B | 3.6B | 4.4B | 4.3B | 4.6B | 4.6B | 5.1B | 5.9B | 5.5B | 5.4B | 6.0B | 6.5B |
| Current Liabilities | 2.7B | 2.1B | 2.8B | 4.0B | 4.3B | 4.5B | 4.6B | 5.7B | 6.0B | 6.6B | 6.8B | 6.9B | 7.5B |
| Per Share Data | |||||||||||||
| EPS | 2.92 | 3.72 | 4.00 | 6.07 | 3.89 | 1.83 | 2.45 | 6.98 | 7.72 | 9.25 | 10.55 | 10.26 | 10.48 |
| Owner EPS | 2.78 | 4.17 | 3.67 | 4.57 | 4.44 | 1.96 | 3.30 | 5.89 | 4.74 | 10.78 | 9.41 | 10.59 | 0.88 |
| Book Value | 3.38 | 3.07 | 6.63 | 12.81 | 13.09 | 4.90 | 4.36 | 9.12 | 11.85 | 14.39 | 15.94 | 18.37 | 17.97 |
| Cash Flow/Share | 3.67 | 5.13 | 4.62 | 6.61 | 6.82 | 2.76 | 4.12 | 8.40 | 7.34 | 13.64 | 12.41 | 13.79 | 23.96 |
| Dividends/Share | 0.73 | 0.89 | 1.12 | 1.13 | 1.15 | 0.50 | 0.60 | 2.20 | 2.40 | 2.42 | 2.86 | 3.16 | 3.19 |
| Shares Out. | 294.5M | 282.3M | 283.4M | 284.8M | 285.0M | 840.7M | 827.6M | 267.1M | 261.7M | 258.2M | 254.2M | 250.3M | 246.6M |
| Valuation | |||||||||||||
| P/E Ratio | 27.2 | 21.6 | 20.8 | 21.1 | 31.4 | 33.4 | 31.6 | 48.1 | 29.9 | 33.2 | 32.3 | 31.7 | 30.3 |
| P/FCF | 26.6 | 18.7 | 22.0 | 22.0 | 20.5 | 77.6 | 62.0 | 47.9 | 47.4 | 30.2 | 41.5 | 30.7 | 27.0 |
| EV/EBIT | 19.1 | 15.1 | 13.6 | 27.6 | 25.4 | 25.7 | 25.2 | N/A | 23.8 | 25.1 | 24.8 | 24.2 | N/A |
| Price/Book | 23.7 | 26.2 | 12.5 | 10.0 | 9.3 | 12.5 | 17.8 | 36.8 | 19.5 | 21.4 | 21.3 | 17.7 | 17.7 |
| Price/Sales | 1.7 | 2.1 | 2.0 | 2.0 | 2.1 | 2.4 | 2.9 | 3.6 | 2.9 | 2.7 | 3.7 | 3.7 | 3.3 |
| FCF Yield | 3.7% | 5.3% | 4.5% | 4.5% | 4.9% | 3.9% | 4.8% | 2.1% | 2.1% | 3.3% | 2.4% | 3.3% | 3.7% |
| Market Cap | 23.6B | 22.8B | 23.5B | 36.5B | 34.8B | 51.5B | 64.1B | 89.7B | 60.5B | 79.4B | 86.5B | 81.5B | 78.3B |
| Avg. Price | 62.89 | 82.04 | 84.87 | 106.01 | 128.30 | 153.13 | 194.16 | 270.06 | 243.70 | 244.57 | 333.49 | 344.64 | 317.51 |
| Year-End Price | 79.65 | 80.24 | 83.08 | 128.24 | 121.98 | 183.83 | 232.53 | 335.87 | 231.13 | 307.50 | 340.26 | 325.44 | 317.51 |
SHERWIN WILLIAMS CO passes 6 of 9 quality checks, suggesting mixed fundamentals.
SHERWIN WILLIAMS CO trades at 30.9x trailing earnings, compared to its 15-year median P/E of 31.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 29.6x vs a median of 36.1x. The company's 5-year average ROIC is 21.7% with a gross margin of 45.8%. Total shareholder yield (dividends + buybacks) is 3.4%. At current prices, the estimated annualized return to fair value is +2.4%.
SHERWIN WILLIAMS CO (SHW) has a net profit margin of 10.9%. This is a healthy margin.
SHERWIN WILLIAMS CO (SHW) generated $2.7 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SHERWIN WILLIAMS CO (SHW) has a debt-to-equity ratio of 2.36. This indicates higher leverage, which may increase financial risk.
SHERWIN WILLIAMS CO (SHW) reported earnings per share (EPS) of $10.26 in its most recent fiscal year.
SHERWIN WILLIAMS CO (SHW) has a return on equity (ROE) of 59.4%. This indicates the company generates strong returns for shareholders.
SHERWIN WILLIAMS CO (SHW) has a 5-year average gross margin of 45.8%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for SHERWIN WILLIAMS CO (SHW), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SHERWIN WILLIAMS CO (SHW) has a book value per share of $18.37, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects the demand environment to remain challenging through 2026, with the architectural market facing headwinds from soft residential repaint demand, difficult new residential conditions, and continued commercial weakness, though the company anticipates outperforming the market through aggressive share-gain initiatives and targeted investments in customer relationships. Raw material inflation is expected in the low to mid-single-digit range for the full year, driven by propylene pricing pressures related to Middle East disruptions and elevated solvent costs, which management plans to offset through incremental targeted pricing actions and accelerated cost reduction initiatives. The company expects consolidated price mix to increase to the high end of the low single-digit range and is implementing strategic price increases across segments, with Paint Stores Group's January increase trending slightly better than expected. Management remains focused on disciplined capital allocation, including opening 80–100 net new stores in the United States and Canada, opportunistic share repurchases, and continued evaluation of acquisitions that accelerate strategy, while maintaining gross margin expansion expectations despite near-term cost pressures.
Based on recent SEC filings and earnings calls, SHERWIN WILLIAMS CO (SHW) has provided the following forward guidance: Consolidated sales: low- to mid-single-digit % increase (FY2026); Adjusted diluted net income per share: $11.50–$11.90 (FY2026); Consolidated price mix: high end of low single-digit range (FY2026); Net new stores: 80–100 (FY2026).
No recent press releases.