PPG INDUSTRIES INC

PPG 10-K · Q4 2025

PPG Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 3,914 3,729 +5.0%
Show Geography breakouts
Asia Pacific 795 772 +3.0%
EMEA 1,287 1,207 +6.6%
Latin America 613 545 +12.5%
North America 1,219 1,205 +1.2%
Show — breakouts
Revenue 951 881 +7.9%
Revenue 3,637 3,647 -0.3%
Revenue 2,626 2,197 +19.5%
Revenue 54 57 -5.3%
Revenue 1,656 1,622 +2.1%
Revenue 777 708 +9.7%
Revenue 1,164 1,157 +0.6%
Revenue 628 577 +8.8%
Revenue -44 -64 +31.2%
Revenue 2,060 2,196 -6.2%
Revenue 3,012 2,806 +7.3%
Revenue -567 -683 +17.0%
Revenue 404 443 -8.8%
Revenue -8 -62 +87.1%
Revenue 951 881 +7.9%
Revenue 2,333 2,712 -14.0%
Revenue 1,322 1,262 +4.8%
Show Consolidation Items breakouts
Operating Segments 3,914 3,729 +5.0%
Cost of Revenue 2,316 2,216 +4.5%
Show — breakouts
Cost of Revenue 472 439 +7.5%
Cost of Revenue 2,950 3,033 -2.7%
Cost of Revenue 1,636 1,386 +18.0%
Selling, General & Administrative 905 835 +8.4%
Show — breakouts
Selling, General & Administrative 303 287 +5.6%
Selling, General & Administrative -50 -61 +18.0%
Selling, General & Administrative 197 118 +66.9%
Interest Income -24 -42 +42.9%
Other Non-Operating Income (Expense) (Q)
Show Disposal Group Classification breakouts
Discontinued Operations Disposed Of By Sale · U.S. And Canada Architectural Coatings Business 4 0
Income Before Taxes 389 81 +380.2%
Show Disposal Group Classification breakouts
Discontinued Operations Disposed Of By Sale · U.S. And Canada Architectural Coatings Business -4 -285 +98.6%
Income Tax Expense (Benefit) 78 70 +11.4%
Show Disposal Group Classification breakouts
Discontinued Operations Disposed Of By Sale · U.S. And Canada Architectural Coatings Business -2 -3 +33.3%
Net Income 309 -271 +214.0%
Net Income 300 -280 +207.1%
Comprehensive Income 388 -608 +163.8%
EPS (Basic) 1.34 -1.19 +212.6%
EPS (Diluted) 1.34 -1.18 +213.6%
Wtd Avg Shares (Basic) -0.6 -0.7 +14.3%
Wtd Avg Shares (Diluted) -0.6 -0.7 +14.3%
Depreciation And Amortization 134 119 +12.6%
Net Income Loss Attributable To Noncontrolling Interest 9 9 0.0%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 2,163 1,270 +70.3%
Short-Term Investments 56 88 -36.4%
Accounts Receivable 2,783 2,477 +12.4%
Inventory 1,996 1,846 +8.1%
Total Current Assets 7,959 6,557 +21.4%
Non-Current Assets
Property, Plant & Equipment 4,005 3,464 +15.6%
Show Geography breakouts
Asia · Operating Segments 698 693 +0.7%
EMEA · Operating Segments 1,136 945 +20.2%
Latin America · Operating Segments 360 324 +11.1%
United States and Canada · Operating Segments 1,811 1,502 +20.6%
Show Consolidation Items breakouts
Operating Segments 4,005 3,464 +15.6%
Operating Lease Right-of-Use Assets 604 597 +1.2%
Goodwill 6,149 5,690 +8.1%
Show Business Segments breakouts
Global Architectural Coatings 3,008 2,688 +11.9%
Industrial Coatings Segment 1,227 1,148 +6.9%
Performance Coatings Segment 1,914 1,854 +3.2%
Intangible Assets 697 799 -12.8%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 489 550 -11.1%
Developed Technology Rights 99 134 -26.1%
Other Intangible Assets 1 1 0.0%
Trade Names 108 114 -5.3%
Deferred Tax Assets 481 303 +58.7%
Other Non-Current Assets 597 569 +4.9%
Total Assets 22,098 19,433 +13.7%
Show Business Segments breakouts
Global Architectural Coatings · Operating Segments 6,676 5,887 +13.4%
Industrial Coatings Segment · Operating Segments 6,183 5,230 +18.2%
Performance Coatings Segment · Operating Segments 5,535 5,601 -1.2%
Show Consolidation Items breakouts
Corporate Non Segment 3,704 2,715 +36.4%
Long Term Investments 332 331 +0.3%
Current Liabilities
Current Portion of Long-Term Debt 702 932 -24.7%
Total Current Liabilities 4,900 5,014 -2.3%
Debt Current 706 939 -24.8%
Non-Current Liabilities
Long-Term Debt 7,297 5,801 +25.8%
Show Long-Term Debt Type breakouts
1.200% Notes due 2026 700 698 +0.3%
1.400% Notes due 2027 704 619 +13.7%
1.95% Notes due 2037 58 51 +13.7%
2.55% Notes Due 2030 [Member] 298 297 +0.3%
2.750% Notes Due 2029 819 718 +14.1%
2.8% Notes due 2029 299 298 +0.3%
3.25% Notes Due 2032 1,047
3.75% Notes due 2028 801 806 -0.6%
4.375% Notes Due 2031 692
Notes 2.5 Percent Due 2029 94 83 +13.3%
Notes 3.0 Percent Due 2044 135 118 +14.4%
Notes 5.5 Percent Due 2040 248 248 0.0%
Notes 7.70 Percent Due 2038 175 175 0.0%
Term Loan Credit Agreement, Due 2028 1,233 776 +58.9%
Long-Term Debt 6,602 4,876 +35.4%
Operating Lease Liabilities 450 454 -0.9%
Deferred Tax Liabilities 457 405 +12.8%
Other Non-Current Liabilities 650 754 -13.8%
Total Liabilities 14,001 12,471 +12.3%
Stockholders' Equity
Common Stock 969 969 0.0%
Retained Earnings 22,942 21,994 +4.3%
Accumulated Other Comprehensive Income -2,176 -3,108 +30.0%
Total Stockholders' Equity 7,941 6,785 +17.0%
Total Liabilities & Equity 22,098 19,433 +13.7%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Stock-Based Compensation 11 12 -8.3%
Deferred Income Taxes 15 -31 +148.4%
Other Non-Cash Items 19 -95 +120.0%
Change in Inventory 191 117 +63.2%
Net Cash from Operations 887 346 +156.4%
Investing Activities
Capital Expenditures -301 -208 -44.7%
Other Investing Activities -24 -13 -84.6%
Net Cash from Investing -283 618 -145.8%
Financing Activities
Share Repurchases -103 -241 +57.3%
Debt Repayments -698 0
Net Cash from Financing -276 -808 +65.8%
Supplemental
Interest Paid 38 49 -22.4%
Unpaid Capital Expenditures 83 73 +13.7%
Other Cash Flow
Net Change in Cash 331 42 +688.1%

Values in millions USD. Source: SEC EDGAR 10-K filing.

This table is rendered from the same JSON returned by /api/financials.

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