SHERWIN WILLIAMS CO

SHW 10-K · FY 2025

SHW FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue (FY)
Show Geography breakouts
Non Us 4.62 4.43 +4.3%
Revenue 23,574.3 23,098.5 +2.1%
Show Business Segments breakouts
Consumer Brands Group 3,166.4 3,108 +1.9%
Consumer Brands Group · Intersegment Elimination 5,388.2 5,304.3 +1.6%
Consumer Brands Group · Operating Segments 8,554.6 8,412.3 +1.7%
Paint Stores Group 13,605.9 13,188 +3.2%
Paint Stores Group · Operating Segments 13,605.9 13,188 +3.2%
Performance Coatings Group 6,795.2 6,797.3 -0.0%
Performance Coatings Group · Intersegment Elimination 26.6 56.8 -53.2%
Performance Coatings Group · Operating Segments 6,821.8 6,854.1 -0.5%
Show Consolidation Items breakouts
Administrative and Eliminations -5,408 -5,355.9 -1.0%
Corporate Non Segment 6.8 5.2 +30.8%
Intersegment Elimination -5,414.8 -5,361.1 -1.0%
Cost of Revenue 12,058.8 11,903.4 +1.3%
Show Business Segments breakouts
Consumer Brands Group · Operating Segments 7,128 6,943.5 +2.7%
Paint Stores Group · Operating Segments 5,954.5 5,900.8 +0.9%
Performance Coatings Group · Operating Segments 4,412.3 4,406.5 +0.1%
Show Consolidation Items breakouts
Administrative and Eliminations -5,436 -5,347.4 -1.7%
Gross Profit 11,515.5 11,195.1 +2.9%
Research & Development (FY)
Show Income Statement Location breakouts
Cost Of Sales 224.8 217.3 +3.5%
Selling, General & Administrative 7,695 7,422.1 +3.7%
Show Business Segments breakouts
Consumer Brands Group · Operating Segments 895.9 863.1 +3.8%
Paint Stores Group · Operating Segments 4,589.3 4,405.6 +4.2%
Performance Coatings Group · Operating Segments 1,446.1 1,443 +0.2%
Show Consolidation Items breakouts
Administrative and Eliminations 763.7 710.4 +7.5%
Interest Expense 465 415.7 +11.9%
Show Consolidation Items breakouts
Administrative and Eliminations 465 414.3 +12.2%
Other Non-Operating Income (Expense) 20.9 -44.7 +146.8%
Income Before Taxes 3,338.2 3,451.8 -3.3%
Show Business Segments breakouts
Consumer Brands Group · Operating Segments 509.6 589.9 -13.6%
Paint Stores Group · Operating Segments 3,061.5 2,902.6 +5.5%
Performance Coatings Group · Operating Segments 942.7 1,027.9 -8.3%
Show Consolidation Items breakouts
Administrative and Eliminations -1,175.6 -1,068.6 -10.0%
Income Tax Expense (Benefit) 769.7 770.4 -0.1%
Net Income 2,568.5 2,681.4 -4.2%
Show Equity Components breakouts
Retained Earnings 2,568.5 2,681.4 -4.2%
Comprehensive Income 2,809.3 2,430.5 +15.6%
Other Comprehensive Income 240.8 -250.9 +196.0%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 240.8 -250.9 +196.0%
EPS (Basic) 10.37 10.68 -2.9%
EPS (Diluted) 10.26 10.55 -2.7%
Wtd Avg Shares (Basic) 247.6 251 -1.4%
Wtd Avg Shares (Diluted) 250.4 254.1 -1.5%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax 4.7
Show Derivative Risk breakouts
Interest Rate Lock Agreements 4.7
Foreign Currency Transaction Gain Loss Before Tax 45.4 3.9 +1064.1%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 207.2 210.4 -1.5%
Accounts Receivable 2,791.2 2,388.8 +16.8%
Inventory 2,318.2 2,288.1 +1.3%
Other Assets Current 690.8 513.5 +34.5%
Total Current Assets 6,007.4 5,400.8 +11.2%
Non-Current Assets
Property, Plant & Equipment 4,137.4 3,533.2 +17.1%
Goodwill 8,036.6 7,580.1 +6.0%
Show Business Segments breakouts
Consumer Brands Group 2,032.8 1,792.5 +13.4%
Paint Stores Group 2,407.8 2,376.1 +1.3%
Performance Coatings Group 3,596 3,411.5 +5.4%
Show Business Acquisition breakouts
Suvinil 247.8
Operating Lease Right-of-Use Assets 1,995.2 1,953.8 +2.1%
Other Non-Current Assets 1,759 1,631.5 +7.8%
Total Assets 25,901.7 23,632.6 +9.6%
Show Business Segments breakouts
Consumer Brands Group · Operating Segments 8,025.5 6,854.7 +17.1%
Paint Stores Group · Operating Segments 6,378.6 5,878 +8.5%
Performance Coatings Group · Operating Segments 7,859.5 7,847.4 +0.2%
Show Geography breakouts
Non Us 7.24 5.21 +39.0%
Show Consolidation Items breakouts
Administrative and Eliminations 3,638.1 3,052.5 +19.2%
Intangible Assets 3,172.2 3,025.3 +4.9%
Show Finite Lived Intangible Assets By Major Class breakouts
Computer Software Intangible Asset 66.9 30.7 +117.9%
Customer Relationships 1,888.7 1,698.2 +11.2%
Intellectual Property 1,149.1 1,225.3 -6.2%
Other Intangible Assets 67.5 71.1 -5.1%
Other Assets
Intangible Assets Net Excluding Goodwill 3,966.1 3,533.2 +12.3%
Current Liabilities
Short Term Borrowings 1,200.5 662.4 +81.2%
Show Debt Instrument breakouts
Domestic commercial paper · Commercial Paper 281.4 655.6 -57.1%
EUR DTTL Credit Agreement 293.6
Foreign facilities 0.5 6.8 -92.6%
USD DTTL Credit Agreement 625
Accounts Payable 2,354.2 2,253.2 +4.5%
Employee Related Liabilities Current 839.4 842.8 -0.4%
Taxes Payable Current 187.4 174.3 +7.5%
Current Portion of Long-Term Debt 350.1 1,049.2 -66.6%
Operating Lease Liability Current 479.8 466.6 +2.8%
Other Liabilities Current 1,508.9 1,360.2 +10.9%
Show Retirement Plan Type breakouts
Other Postretirement Benefit Plans Defined Benefit · US 14.1 14.4 -2.1%
Pension Plans Defined Benefit · Foreign Plan 6.7 6 +11.7%
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary 123.4 101.4 +21.7%
Total Current Liabilities 6,920.3 6,808.7 +1.6%
Deferred Revenue (Current) 427.3 386.2 +10.6%
Non-Current Liabilities
Long-Term Debt 9,320.7 8,176.8 +14.0%
Other Postretirement Defined Benefit Plan Liabilities Noncurrent 129.8 120.7 +7.5%
Show Retirement Plan Type breakouts
Other Postretirement Benefit Plans Defined Benefit · US 111.5 120.7 -7.6%
Deferred Tax Liabilities 765.3 607.5 +26.0%
Operating Lease Liabilities 1,591.5 1,558.3 +2.1%
Other Non-Current Liabilities 2,575.8 2,309.4 +11.5%
Show Retirement Plan Type breakouts
Pension Plans Defined Benefit · Foreign Plan 76.6 61.8 +23.9%
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary 667.8 600.3 +11.2%
Long-Term Debt 9,670.8 9,226 +4.8%
Show Debt Instrument breakouts
0.53% to 8.00% Promissory Notes · Unsecured Debt 0.1 0.2 -50.0%
2.20% Senior Notes · Senior Notes 496.1 495.5 +0.1%
2.30% Senior Notes · Senior Notes 498 497.6 +0.1%
2.90% Senior Notes · Senior Notes 492.4 492.1 +0.1%
2.95% Senior Notes · Senior Notes 796.5 795.5 +0.1%
3.30% Senior Notes · Senior Notes 494.8 494.6 0.0%
3.45% Senior Notes · Senior Notes 1,497.5 1,495.7 +0.1%
3.80% Senior Notes · Senior Notes 544 543.7 +0.1%
3.95% Senior Notes · Senior Notes 350.1 351.6 -0.4%
4.00% Senior Notes · Senior Notes 297.3 297.2 0.0%
4.30% Senior Notes · Senior Notes 497.1
4.40% Senior Notes · Senior Notes 241.8 241.3 +0.2%
4.50% Senior Notes · Senior Notes 1,234.5 1,233.7 +0.1%
4.50% Senior Notes · Senior Notes 495.5
4.55% Senior Notes · Senior Notes 395.6 395.4 +0.1%
4.55% Senior Notes · Senior Notes 398.4 397.6 +0.2%
4.80% Senior Notes · Senior Notes 445.7 445 +0.2%
5.15% Senior Notes · Senior Notes 495.4
Contract With Customer Liability Noncurrent 10.3 1.6 +543.8%
Stockholders' Equity
Common Stock 83.1 92.5 -10.2%
Additional Paid-In Capital 4,204.5 4,576.2 -8.1%
Retained Earnings 1,029.4 7,246.3 -85.8%
Treasury Stock Common Value -84.3 -6,988.6 +98.8%
Accumulated Other Comprehensive Income -634.4 -875.2 +27.5%
Total Stockholders' Equity 4,598.3 4,051.2 +13.5%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 59.5 73.1 -18.6%
Accumulated Gain Loss Net Cash Flow Hedge Parent 25.5 24.6 +3.7%
Accumulated Other Comprehensive Income -634.4 -875.2 +27.5%
Accumulated Translation Adjustment -719.4 -972.9 +26.1%
Common Stock 83.1 92.5 -10.2%
Other Additional Capital 4,204.5 4,576.2 -8.1%
Retained Earnings 1,029.4 7,246.3 -85.8%
Treasury Stock Common -84.3 -6,988.6 +98.8%
Total Liabilities & Equity 25,901.7 23,632.6 +9.6%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Stock-Based Compensation 123.5 138.1 -10.6%
Deferred Income Taxes 153.2 -74.9 +304.5%
Other Non-Cash Items 2.6 -10.9 +123.9%
Change in Accounts Receivable -162.8 -10.7 -1421.5%
Change in Inventory 132.5 -32.9 +502.7%
Change in Accounts Payable -37.8 21.8 -273.4%
Net Cash from Operations 3,451.6 3,153.2 +9.5%
Investing Activities
Other Investing Activities -68.1 -59 -15.4%
Net Cash from Investing -2,066.3 -1,196.3 -72.7%
Financing Activities
Debt Issuance Costs -13.5 -8.6 -57.0%
Net Cash from Financing -1,378.6 -2,017.1 +31.7%
Supplemental
Income Taxes Paid 592.7
Interest Paid 453 406.9 +11.3%
Other Cash Flow
Net Change in Cash -3.2 -66.4 +95.2%

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

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