SHERWIN WILLIAMS CO

SHW 10-K · Q4 2025

SHW Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 5,595.9 5,297.2 +5.6%
Show Business Segments breakouts
Consumer Brands Group 824.7 662.2 +24.5%
Consumer Brands Group · Intersegment Elimination 1,236.3 1,230.4 +0.5%
Consumer Brands Group · Operating Segments 2,061 1,892.6 +8.9%
Paint Stores Group 3,127.1 3,044.9 +2.7%
Paint Stores Group · Operating Segments 3,127.1 3,044.9 +2.7%
Performance Coatings Group 1,642.1 1,589 +3.3%
Performance Coatings Group · Intersegment Elimination 7.2 6.6 +9.1%
Performance Coatings Group · Operating Segments 1,649.3 1,595.6 +3.4%
Show Consolidation Items breakouts
Administrative and Eliminations -1,241.5 -1,235.9 -0.5%
Corporate Non Segment 2 1.1 +81.8%
Intersegment Elimination -1,243.5 -1,237 -0.5%
Cost of Revenue 2,883.3 2,724 +5.8%
Show Business Segments breakouts
Consumer Brands Group · Operating Segments 1,750.5 1,613.7 +8.5%
Paint Stores Group · Operating Segments 1,333.6 1,339.3 -0.4%
Performance Coatings Group · Operating Segments 1,037.4 1,002.1 +3.5%
Show Consolidation Items breakouts
Administrative and Eliminations -1,238.2 -1,231.1 -0.6%
Gross Profit 2,712.6 2,573.2 +5.4%
Selling, General & Administrative 1,936.8 1,882.9 +2.9%
Show Business Segments breakouts
Consumer Brands Group · Operating Segments 247.3 205.7 +20.2%
Paint Stores Group · Operating Segments 1,133.1 1,107.9 +2.3%
Performance Coatings Group · Operating Segments 358.3 369 -2.9%
Show Consolidation Items breakouts
Administrative and Eliminations 198.1 200.3 -1.1%
Interest Expense 131.6 98.5 +33.6%
Show Consolidation Items breakouts
Administrative and Eliminations 131.6 97.1 +35.5%
Other Non-Operating Income (Expense) 11 -14.5 +175.9%
Income Before Taxes 639 615.6 +3.8%
Show Business Segments breakouts
Consumer Brands Group · Operating Segments 56.2 66.6 -15.6%
Paint Stores Group · Operating Segments 649.5 606.4 +7.1%
Performance Coatings Group · Operating Segments 244.6 229 +6.8%
Show Consolidation Items breakouts
Administrative and Eliminations -311.3 -286.4 -8.7%
Income Tax Expense (Benefit) 162.2 135.5 +19.7%
Net Income 476.8 480.1 -0.7%
Comprehensive Income 432.5 281.1 +53.9%
Other Comprehensive Income -44.3 -199 +77.7%
EPS (Basic) 1.94 1.92 +1.0%
EPS (Diluted) 1.92 1.9 +1.1%
Wtd Avg Shares (Basic) -0.4 -0.4 0.0%
Wtd Avg Shares (Diluted) -0.5 -0.5 0.0%
Foreign Currency Transaction Gain Loss Before Tax 15.7 -5.9 +366.1%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 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 YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Stock-Based Compensation 32 55.5 -42.3%
Deferred Income Taxes 97.8 -25.7 +480.5%
Other Non-Cash Items 9.8 -25.4 +138.6%
Net Cash from Operations 1,092.5 934.5 +16.9%
Investing Activities
Other Investing Activities 1,140.1 91.1 +1151.5%
Net Cash from Investing -171.6 -285.5 +39.9%
Financing Activities
Debt Issuance Costs 0.1 0
Net Cash from Financing -942.3 -670.8 -40.5%
Supplemental
Interest Paid 109.7 84.6 +29.7%
Other Cash Flow
Net Change in Cash -34.3 -27.8 -23.4%

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

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