PPG Industries vs Sherwin-Williams
Sherwin-Williams is the larger business, with $23.57bn of revenue in fiscal 2025 against $15.88bn for PPG Industries (1.5 times as much). Sherwin-Williams grew faster (2.1% against 0.2%). Sherwin-Williams kept more of each dollar of sales as profit: a net margin of 10.9% against 9.9%.
| Latest fiscal year | PPG IndustriesPPG, 2025 | Sherwin-WilliamsSHW, 2025 |
|---|---|---|
| Revenue | $15.88bn | $23.57bn |
| Revenue growth | 0.2% | 2.1% |
| Net income | $1.58bn | $2.57bn |
| Operating margin | — | — |
| Net margin | 9.9% | 10.9% |
| Return on equity | 21.4% | 59.4% |
| Free cash flow | $1.16bn | $2.65bn |
| Cash | $2.16bn | $207m |
| Total debt | $8.01bn | $10.87bn |
| Debt to equity | — | 236.4% |
| Dividend per share | $2.78 | $3.16 |
| Dividend yield | 2.3% | 0.9% |
| Share buybacks | $790m | $1.66bn |
| Employees | 43,500 | 64,249 |
| Market value | $27.01bn | $82.44bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 71 (Strong) | 83 (Strong) |
| Insider trades, 12 months | 4 buys, 8 sales | 0 buys, 4 sales |