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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