PPG INDUSTRIES INC
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PPG Q4 2025 request
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Income Statement
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Revenue | 3,914 | 3,729 | +5.0% |
Show Geography breakouts |
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| 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 |
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| 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 |
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| Operating Segments | 3,914 | 3,729 | +5.0% |
| Cost of Revenue | 2,316 | 2,216 | +4.5% |
Show — breakouts |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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
| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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
| 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.