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Axalta Coating Systems Ltd. (AXTA) stock

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NYSE: AXTA NYSE Specialty Chemicals Next results ~February 9, 2027

C+ Fundamentals grade

Axalta Coating Systems Ltd. is a US-listed company in the specialty chemicals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$32

Cash-flow model

Base case. Range ~$21–$46 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 13% above our base value.

Price used: $35.84, November 2, 2026

Axalta Coating Systems Ltd. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds151 adding, 211 cuttingOf 60 active managers that changed their stake, 28 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Axalta Coating Systems files

10-Q filed October 29: Axalta Coating Systems

Axalta Coating Systems posted revenue of $5.17bn for the twelve months to September 2026, up 0.1% on a year earlier, an improvement on the 0.9% decline recorded a quarter earlier. Profitability trends diverged over the period: free-cash-flow margin climbed to 9.6% from 6.6% a year earlier, while operating margin narrowed to 12.4% from 14.7%. These shifts lift the fundamentals grade from C to C+. Our model value is little changed at $34.40 a share, against a share price of $33.83, and the rating remains Hold. At the current price, the market appears to be pricing in cash-flow growth of about 2.0% a year over five years, below the 3.2% a year revenue growth Axalta has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Axalta Coating Systems stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $5.15bn, down 0.9% on a year earlier, faster than -2.6% a quarter earlier. That puts it 850 of 931 for growth among all the companies we cover. Free-cash-flow margin rose to 9.6% from 7.9% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 3 financial-health checks. Our cash-flow model value is $22.93 a share, against a share price of $33.55. At that price, our model says the market is pricing in about 6.7% a year of cash-flow growth for five years, faster than the 3.1% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 9, 2027 (estimated)

Axalta Coating Systems Ltd.'s trailing-twelve-month revenue grew 0.1% year on year, with a free-cash-flow margin of 9.6%. Where it stands out: operating margin of 12.4% ranks 7 of 39 specialty chemicals companies we cover.

Our discounted-cash-flow model values the business at ~$32 per share in the base case (~$21–$46 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 46.6% while net income fell 26.6%: a 73pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.6% in a year, so each share owns more of the business.

Things to watch

  • Below peers: days sales outstanding. Days sales outstanding of 78 days ranks 24 of 30 specialty chemicals companies we cover (median 59 days).
  • Short interest rising. Shares sold short rose 20% in a month to 5.2% of tradable shares.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.63 against an average estimate of $0.70: missed by 10.1%
Revenue
$1.31bn, up 1.8% on a year earlier
Share reaction
-1.6% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
adjusted EBITDA $254m to $264m (Q4 2026); adjusted EBITDA $1,100m to $1,110m (FY 2026)
Next report
October 29, 2026; average EPS estimate $0.59

Axalta Coating Systems' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+5.2%
  • 1 week+4.9%
  • 1 month+11.3%
  • This year+10.9%
  • 1 year+25.9%
  • 5 years+12.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$5.2B
Operating margin
12.4%
Net margin
6.5%
EPS (TTM, diluted)
$1.56

Growth

Revenue growth
+0.1%
Change in growth rate
+1.1 pts
Share count change
−1.6%

Cash

Free cash flow (TTM)
$497M
FCF margin
9.6%
Stock pay % of revenue
0.6%

Earnings

Last results
October 29, 2026
Next results (est.)
February 9, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Guidance
  4. Announcement
  5. Deal
  6. Announcement
  7. Announcement
  8. Announcement
  9. Deal
  10. Shareholder vote
  11. Announcement
  12. Announcement
  13. Results
  14. Announcement
  15. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Axalta Coating Systems Ltd. valuation models and calculator

What the price is pricing in

The share price implies about 3.5% a year of cash-flow growth for five years.That is close to the 3.2% a year revenue growth Axalta Coating Systems has delivered.

  • Priced in3.5%
  • Last 12 months0.1%
  • 3 years a year0.3%
  • 5 years a year3.2%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($35.44, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$32
Price used
$35.44close November 3, 2026
Implied change
▼ 10%
Uncertainty
High

How we got here: a discounted-cash-flow model of Axalta Coating Systems Ltd.'s free cash flow after stock-based pay with after-tax interest added back ($565M, FY2026 Q3 TTM), growing 2.4% and 2.2% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$21–~$46 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Axalta Coating Systems Ltd.'s free cash flow after stock-based pay ( $565M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Axalta Coating Systems Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.9 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$32 ~$21–$46 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$40 ~$32–$47 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$33 ~$23–$50 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$29 ~$25–$34 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$33 ~$29–$40 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Axalta Coating Systems Ltd. with Specialty Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −34%
  • Revenue growth 5 points higher ▲ +44%
  • Free-cash-flow margin 1 point lower ▼ −11%
  • Last year's free-cash-flow margin change, if it persists ▲ +52%
  • Discount rate 1 point higher ▼ −19%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $26$39$57$81$112$152
8.5% $17$27$40$57$79$107
10% $12$19$29$42$59$80

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$26.65$27.20$32.36$23.42$30.40$28.55$33.12$25.47$33.97$34.22$32.31$35.84
Market value$6.4bn$6.6bn$8.0bn$5.7bn$7.2bn$6.7bn$7.7bn$5.7bn$7.5bn$7.5bn$7.0bn$7.7bn
+ Net debt (− = net cash)$3.0bn$2.8bn$3.2bn$3.2bn$2.9bn$2.6bn$3.1bn$3.1bn$2.8bn$2.9bn$2.6bn$2.4bn
Enterprise value$9.3bn$9.4bn$11.2bn$8.9bn$10.0bn$9.3bn$10.8bn$8.8bn$10.4bn$10.4bn$9.6bn$10.1bn
Multiples
Price / sales 1.6x1.6x1.8x1.2x1.6x1.8x1.7x1.2x1.5x1.4x1.4x1.5x
Price / earnings 69.7x171.3xn/m27.5x28.8x55.4x29.1x29.5x28.2x19.3x18.5x23.0x
Price / free cash flow 23.5x15.7x19.2x16.1x15.6x15.8x17.6x39.6x17.2x17.3x15.5x15.5x
EV / EBITDA 12.1x13.0x15.7x11.0x11.9x14.9x13.8x12.1x12.0x10.6x9.3x10.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

70 /100

Strong moat

How hard Axalta Coating Systems's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.4% of total assets over 9 years.

  • Pricing power 12 / 20

    Gross margin has been a median 33.8%, moving by 1.9 percentage points (standard deviation) across 9 years.

  • Durability 11 / 20

    Operating margin has been a median 10.8%; its worst year was 6.7%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 9.5% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 8.2% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.46 −1% $5.2bn +2%
Next $2.75 +12% $5.3bn +2%

Next year's EPS estimate has moved −3.7% in 90 days, across 19 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −7.2% on 90 days ago. In the last 30 days, 0 analysts raised Axalta Coating Systems Ltd.'s forecast and 7 cut it.

Consensus EPS forecast Axalta Coating Systems Ltd., last 90 days
$2.40 $2.60 $2.80 $3.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.65 Current fiscal year, 60 days ago: $2.65 Current fiscal year, 30 days ago: $2.65 Current fiscal year, 7 days ago: $2.62 Current fiscal year, Now: $2.46 $2.46 Next fiscal year, 90 days ago: $2.86 Next fiscal year, 60 days ago: $2.86 Next fiscal year, 30 days ago: $2.87 Next fiscal year, 7 days ago: $2.83 Next fiscal year, Now: $2.75 $2.75

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.65$2.86
60 days ago $2.65$2.86
30 days ago $2.65$2.87
7 days ago $2.62$2.83
Now $2.46$2.75

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.70 $0.63 −10.1%
Jun 2026 $0.65 $0.72 +10.9%
Mar 2026 $0.50 $0.56 +11.7%
Dec 2025 $0.60 $0.59 −1.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • Adjusted Diluted EPS FY 2026 about $2.45 Non-GAAP Lowered vs 2.55 to 2.7
    “Adjusted Diluted EPS ~$0.55 ~$2.45” source
  • Adjusted Diluted EPS Q4 2026 about $0.55 Non-GAAP
    “Adjusted Diluted EPS ~$0.55 ~$2.45” source
  • Adjusted EBITDA FY 2026 $1,100m to $1,110m Non-GAAP Lowered vs 1,140m to 1,170m
    “Adjusted EBITDA $254 - $264 $1,100 - $1,110” source
  • Free Cash Flow FY 2026 about $450m Non-GAAP Lowered vs about 500m
    “Free Cash Flow (1) ~$450” source
  • Depreciation and Amortization FY 2026 about $310m Raised vs about 150m
    “Depreciation and Amortization $310” source
  • Tax Rate, As Adjusted FY 2026 about 24% Non-GAAP Maintained vs about 24
    “Tax Rate, As Adjusted ~24%” source
Show 4 more items
  • Diluted Shares Outstanding FY 2026 about 215m Maintained vs about 215m
    “Diluted Shares Outstanding ~215” source
  • Interest Expense FY 2026 about $150m Maintained vs about 150m
    “Interest Expense ~$150” source
  • Capital Expenditures FY 2026 about $200m Raised vs 180m to 200m
    “Capital Expenditures ~$200” source
  • Adjusted EBITDA Q4 2026 $254m to $264m Non-GAAP
    “Adjusted EBITDA $254 - $264 $1,100 - $1,110” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Axalta Coating Systems Ltd.'s revenue by +2.4% next year and +2.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+2.7%, weight 68%) and the company's own record (+2.0%, weight 32%) . How the weights are set.

Analyst recommendations

18 analysts, Oct 2026
Buy844%
Hold1056%
Sell00%

Monthly trend

  1. Oct 2026261018
  2. Sep 20266916
  3. Aug 20265915
  4. Jul 20265915

Counts of recommendations published by analysts covering Axalta Coating Systems Ltd., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.2%
of tradable shares
Days to cover
4.44
at average volume
Short interest, 1 month
+20%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.4%
of shares
Employees
12,300
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +25.9%

$28.47 on October 31, 2025 to $35.84

ThenNowEffect
Revenue (last 12 months) $5.2bn $5.2bn −0.9%
Net margin 8.6% 6.8% −21.0%
P/E multiple 14.0x 22.1x +57.7%
Share count 219m 215m +2.0%

Biggest factor: p/e multiple.

Last 3 years +21.5%

$29.49 on November 3, 2023 to $35.84

ThenNowEffect
Revenue (last 12 months) $5.1bn $5.2bn +1.9%
Net margin 4.5% 6.8% +49.9%
P/E multiple 28.6x 22.1x −22.9%
Share count 222m 215m +3.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AXTA+16%−23%+33%+1%−6%+11%
Industry peers (median)+19%−26%−9%+7%−15%+5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AXTA58%50%50%58%42%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AXTA−17%−37%−24%−18%−31%−29%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 64% from November 29, 2017 to March 23, 2020. Getting back needed a 175% gain, reached on October 30, 2024, 1682 days after the low.

Price behaviour

52-week range
$25.44 – $38.19
From 52-week high
−6.2%
vs 50-day average
+5.5%
vs 200-day average
+11.0%
Volatility (1 year)
33%
Beta vs S&P 500
1.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±4.0%
After a week
6 up, 5 down
typical move ±6.1%
After a month
9 up, 2 down
typical move ±7.8%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −1.6% −2.1% — —
July 28, 2026 +3.2% −1.3% +11.5% +8.5%
April 30, 2026 −1.7% +1.3% +1.3% +7.7%
February 10, 2026 −1.8% −0.3% +4.0% −18.6%
October 28, 2025 +1.4% +0.3% −5.2% +2.4%
July 30, 2025 −1.3% −0.5% −0.8% +7.9%
May 7, 2025 −6.0% +1.1% −1.3% −7.7%
February 4, 2025 +7.7% +1.1% +7.3% +0.9%
October 30, 2024 +7.1% −2.3% +11.6% +14.3%
August 1, 2024 −1.2% −3.3% −5.0% +2.4%
May 1, 2024 +10.8% +0.6% +15.6% +13.2%
February 8, 2024 −3.7% +0.6% −3.2% +2.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Axalta Coating Systems Ltd.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Axalta Coating Systems Ltd. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Axalta Coating Systems Ltd.
$5.1B $5.2B $5.2B $5.3B $5.3B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $5.2B Revenue (TTM), FY24 Q1: $5.2B Revenue (TTM), FY24 Q2: $5.3B Revenue (TTM), FY24 Q3: $5.3B Revenue (TTM), FY24 Q4: $5.3B Revenue (TTM), FY25 Q1: $5.2B Revenue (TTM), FY25 Q2: $5.2B Revenue (TTM), FY25 Q3: $5.2B Revenue (TTM), FY25 Q4: $5.1B Revenue (TTM), FY26 Q1: $5.1B Revenue (TTM), FY26 Q2: $5.2B Revenue (TTM), FY26 Q3: $5.2B $5.2B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $5.2B
FY24 Q1 $5.2B
FY24 Q2 $5.3B
FY24 Q3 $5.3B
FY24 Q4 $5.3B
FY25 Q1 $5.2B
FY25 Q2 $5.2B
FY25 Q3 $5.2B
FY25 Q4 $5.1B
FY26 Q1 $5.1B
FY26 Q2 $5.2B
FY26 Q3 $5.2B
Revenue growth, TTM YoY Axalta Coating Systems Ltd.
-5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 6.1% Revenue growth, TTM YoY, FY24 Q1: 4.0% Revenue growth, TTM YoY, FY24 Q2: 3.9% Revenue growth, TTM YoY, FY24 Q3: 2.7% Revenue growth, TTM YoY, FY24 Q4: 1.8% Revenue growth, TTM YoY, FY25 Q1: 1.0% Revenue growth, TTM YoY, FY25 Q2: -1.0% Revenue growth, TTM YoY, FY25 Q3: -1.8% Revenue growth, TTM YoY, FY25 Q4: -3.0% Revenue growth, TTM YoY, FY26 Q1: -2.6% Revenue growth, TTM YoY, FY26 Q2: -0.9% Revenue growth, TTM YoY, FY26 Q3: 0.1% 0.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 6.1%
FY24 Q1 4.0%
FY24 Q2 3.9%
FY24 Q3 2.7%
FY24 Q4 1.8%
FY25 Q1 1.0%
FY25 Q2 -1.0%
FY25 Q3 -1.8%
FY25 Q4 -3.0%
FY26 Q1 -2.6%
FY26 Q2 -0.9%
FY26 Q3 0.1%
Operating margin (TTM) Axalta Coating Systems Ltd.
11% 12% 13% 14% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 11.3% Operating margin (TTM), FY24 Q1: 11.2% Operating margin (TTM), FY24 Q2: 12.4% Operating margin (TTM), FY24 Q3: 12.9% Operating margin (TTM), FY24 Q4: 13.4% Operating margin (TTM), FY25 Q1: 14.5% Operating margin (TTM), FY25 Q2: 14.4% Operating margin (TTM), FY25 Q3: 14.7% Operating margin (TTM), FY25 Q4: 14.4% Operating margin (TTM), FY26 Q1: 13.8% Operating margin (TTM), FY26 Q2: 13.2% Operating margin (TTM), FY26 Q3: 12.4% 12.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 11.3%
FY24 Q1 11.2%
FY24 Q2 12.4%
FY24 Q3 12.9%
FY24 Q4 13.4%
FY25 Q1 14.5%
FY25 Q2 14.4%
FY25 Q3 14.7%
FY25 Q4 14.4%
FY26 Q1 13.8%
FY26 Q2 13.2%
FY26 Q3 12.4%
FCF margin (TTM) Axalta Coating Systems Ltd.
6% 7% 8% 9% 10% 11% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 8.4% FCF margin (TTM), FY24 Q1: 10.5% FCF margin (TTM), FY24 Q2: 10.2% FCF margin (TTM), FY24 Q3: 9.8% FCF margin (TTM), FY24 Q4: 8.3% FCF margin (TTM), FY25 Q1: 7.8% FCF margin (TTM), FY25 Q2: 7.9% FCF margin (TTM), FY25 Q3: 6.6% FCF margin (TTM), FY25 Q4: 8.9% FCF margin (TTM), FY26 Q1: 9.6% FCF margin (TTM), FY26 Q2: 9.6% FCF margin (TTM), FY26 Q3: 9.6% 9.6%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 8.4%
FY24 Q1 10.5%
FY24 Q2 10.2%
FY24 Q3 9.8%
FY24 Q4 8.3%
FY25 Q1 7.8%
FY25 Q2 7.9%
FY25 Q3 6.6%
FY25 Q4 8.9%
FY26 Q1 9.6%
FY26 Q2 9.6%
FY26 Q3 9.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Axalta Coating Systems took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $5.1B
  2. Cost of revenue $3.4B · 65.6%
  3. Gross profit $1.8B · 34.4%
  4. Research and development $71M · 1.4%
  5. Selling, general and admin $805M · 15.7%
  6. Other operating costs $151M · 3.0%
  7. Operating income $735M · 14.4%
  8. Income tax $167M · 3.3%
  9. Interest and other $190M · 3.7%
  10. Net income $378M · 7.4%

Shares of revenue. Source: Axalta Coating Systems's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 4,392 4,110 4,093 4,377 4,696 4,482 3,738 4,416 4,884 5,184 5,276 5,117 5,173
Gross profit — — 1,564 1,597 1,590 1,564 1,280 1,429 1,418 1,618 1,798 1,762 1,737
EBITDA 678 773 727 711 811 841 626 779 726 864 986 1,030 950
Operating income 370 466 405 364 442 488 306 462 423 588 706 735 640
Net income 27 92 39 37 207 249 122 264 192 267 391 378 334
Diluted EPS $0.12 $0.38 $0.16 $0.15 $0.85 $1.06 $0.52 $1.14 $0.86 $1.21 $1.78 $1.74 $1.56
Growth (year on year)
Revenue — −6.4% −0.4% +6.9% +7.3% −4.6% −16.6% +18.2% +10.6% +6.1% +1.8% −3.0% +0.1%
EBITDA — +14.0% −6.0% −2.2% +14.1% +3.7% −25.6% +24.5% −6.8% +18.9% +14.2% +4.5% −9.6%
Operating income — +26.0% −13.0% −10.2% +21.6% +10.4% −37.4% +51.4% −8.5% +39.0% +20.1% +4.1% −15.8%
Net income — — −57.6% — — +20.2% −51.2% +117.0% −27.2% +39.1% +46.4% −3.3% −26.6%
Diluted EPS — — −57.9% — — +24.7% −50.9% +119.2% −24.6% +40.7% +47.1% −2.2% −25.4%
Margins
Gross margin — — 38.2% 36.5% 33.9% 34.9% 34.2% 32.4% 29.0% 31.2% 34.1% 34.4% 33.6%
EBITDA margin 15.4% 18.8% 17.8% 16.2% 17.3% 18.8% 16.7% 17.6% 14.9% 16.7% 18.7% 20.1% 18.4%
Operating margin 8.4% 11.3% 9.9% 8.3% 9.4% 10.9% 8.2% 10.5% 8.7% 11.3% 13.4% 14.4% 12.4%
Net margin 0.6% 2.2% 0.9% 0.8% 4.4% 5.6% 3.3% 6.0% 3.9% 5.2% 7.4% 7.4% 6.5%
Free-cash-flow margin 1.4% 6.6% 10.3% 9.5% 7.5% 10.3% 11.4% 9.9% 2.9% 8.4% 8.3% 8.9% 9.6%
Cash flow
Cash from operations 251 410 559 540 496 573 509 559 294 575 576 649 699
Capital spending 188 138 136 125 143 113 82 122 151 138 140 196 202
Free cash flow 63 272 423 415 353 461 427 437 143 437 436 453 497
Stock-based pay 8 30 41 39 37 16 15 15 22 26 28 25 29
Free cash flow after stock pay 55 242 382 377 315 445 412 422 121 411 408 428 468
Balance sheet
Cash 382 485 535 770 694 1,018 1,361 841 645 700 593 657 650
Total debt 3,614 3,442 3,313 3,962 3,912 3,895 3,933 3,917 3,754 3,548 3,456 3,225 3,014
Net debt (negative = net cash) 3,232 2,957 2,777 3,193 3,218 2,878 2,572 3,076 3,109 2,848 2,863 2,568 2,364
Diluted shares 230m 240m 244m 246m 243m 236m 236m 232m 222m 222m 220m 217m 215m
Returned to shareholders
Buybacks — 0 0 58 254 105 26 244 200 50 100 165 —
Total returned — 0 0 58 254 105 26 244 200 50 100 165 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · September 30, 2026
What it owns · $7.7bn
Short-term assets $3.1bnLonger-term assets $4.7bn
What it owes, and who funded it · $7.7bn
Short-term liabilities $2.0bnLonger-term liabilities $3.1bnShareholders' equity $2.6bn
  • Short-term assets cover short-term liabilities $3.1bn of assets due within a year against $2.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.1bn short-term assets against $3.1bn of longer-dated liabilities.
  • More cash than debt $650m of cash against $3.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 114% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 272% to 114% over five years.
  • A year's operating cash flow covers at least 20% of debt $699m of operating cash flow against $3.0bn of debt.
  • Operating profit covers interest at least five times over Operating income of $640m against $154m of interest.

From Axalta Coating Systems Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$315M
Diluted share count
−1.6%
year over year
R&D spending
1.4%
of revenue
Sales & admin spending
15.7%
of revenue
Days sales outstanding
78 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in specialty chemicals
Last 12 months unless stated AXTA ALB CBT FUL ESI RPM Median
Revenue, last 12 months $5.2bn $5.9bn $3.6bn $3.6bn $3.5bn $8.0bn $906m
Revenue growth, last 12 months 0.1% 18.3% −4.7% 1.5% 39.6% 6.0% 5.4%
Revenue growth, 3-year average 0.3% −15.1% −3.8% −0.1% 14.4% 2.8% 0.9%
Revenue growth, latest quarter 1.8% 31.1% 6.4% 5.2% 51.7% 4.8% 8.3%
Gross margin 33.6% 23.8% 22.7% 32.3% 36.6% 41.2% 28.8%
Operating margin 12.4% 4.3% 13.6% 9.5% 11.7% — 4.3%
Operating margin, 3-year average 13.3% −12.9% 15.2% 9.9% 13.0% — 5.5%
Net margin 6.5% 3.8% 5.2% 5.6% 5.9% 8.7% 0.8%
Cash from operations / revenue 13.5% 30.5% 13.7% 8.1% 8.1% 11.6% 6.9%
Free-cash-flow margin 9.6% 22.7% 7.7% 2.8% 5.2% 8.9% 4.3%
Free-cash-flow margin, 3-year average 8.7% 0.6% 9.0% 4.5% 9.1% 8.9% 5.1%
Stock pay / revenue 0.6% 0.6% 0.5% 0.7% 2.2% 0.5% 1.0%
Change in share count −1.6% 4.2% −3.7% −0.9% 0.4% −0.6% 0.1%

Median of all 42 companies we cover in specialty chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

42 specialty chemicals companies
Measure Company Peer median Rank
Revenue growth Growth 0.1% 6.0% 30 of 42
Change in growth rate Growth +1.1pp +1.3pp 23 of 42
Gross margin Profitability 33.6% 31.5% 15 of 40
Operating margin Profitability 12.4% 3.8% 7 of 39
Net margin Profitability 6.5% 1.7% 11 of 42
Free-cash-flow margin Cash generation 9.6% 4.8% 8 of 42
Stock pay as % of revenue Cash generation 0.6% 1.0% 10 of 36
Long-term debt as % of assets Balance sheet 32.0% 26.8% 26 of 36
Change in share count Balance sheet -1.6% 0.0% 10 of 37
Days sales outstanding Balance sheet 78 days 59 days 24 of 30

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Performance Coatings $3.3B 64.0% ▼ 5.2%
Mobility Coatings $1.8B 36.0% ▲ 1.0%
Geography
Region Revenue Share YoY
EMEA $1.8B 35.6% ▲ 2.2%
North America $1.8B 34.4% ▼ 12.6%
Asia Pacific $902M 17.6% ▲ 4.6%
Latin America $630M 12.3% ▲ 2.3%

From Axalta Coating Systems Ltd.'s 10-K filed February 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$7.7B
Institutions reporting
357
Shares held vs prior quarter
▲ 0.9%
Positions opened / closed
39 / 62

Top buyers and sellers, Q2 2026: 151 institutions bought and 211 sold ; the biggest buyer was Artisan Partners Limited Partnership (+2.9M shares) and the biggest seller AQR Capital Management LLC (−3.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Artisan Partners Limited Partnership $1.1B 31.7M 14.0% ▲ 10.2%
Blackrock, Inc. $669M 19.5M 8.6% ▲ 2.5%
Barrow Hanley Mewhinney & Strauss LLC $599M 17.5M 7.7% ▼ 4.1%
Vanguard Capital Management LLC $332M 9.7M 4.3% ▲ 1.1%
Vanguard Portfolio Management LLC $326M 9.5M 4.2% 0.0%
Dimensional Fund Advisors LP $277M 8.1M 3.6% ▲ 5.1%
State Street Corp $229M 6.7M 3.0% ▲ 3.5%
D. E. Shaw & Co., Inc. $224M 6.5M 2.9% ▲ 27.6%
FMR LLC $207M 6.1M 2.7% ▲ 1.1%
Millennium Management LLC $187M 5.5M 2.4% ▲ 31.4%
Massachusetts Financial Services Co $187M 5.4M 2.4% ▼ 4.2%
Citigroup Inc $165M 4.8M 2.1% ▲ 16.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Axalta Coating Systems Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Axalta Coating Systems Ltd. disclosed in the last 12 months; 2 earlier trades on record.

  • John James(R-MI 10):Sale (full), $1,001 - $15,000, traded May 6, 2024, filed September 2, 2024
  • John James(R-MI 10):Purchase, $1,001 - $15,000, traded November 10, 2023, filed September 2, 2024

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 9, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 28, 2026
  • April 30, 2026
  • February 10, 2026
  • October 28, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Axalta Coating Systems Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Axalta Coating Systems Ltd. in brief

What does Axalta Coating Systems Ltd. do?
Axalta Coating Systems Ltd. is a US-listed company in the specialty chemicals industry. Its financial year ends in December.
What is Axalta Coating Systems Ltd.'s stock ticker?
Axalta Coating Systems Ltd. trades under the ticker AXTA on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Axalta Coating Systems Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Axalta Coating Systems Ltd. reported revenue of $5.2B, 0.1% higher than a year earlier, according to its SEC filings.
What is Axalta Coating Systems Ltd.'s free cash flow?
Axalta Coating Systems Ltd.'s free-cash-flow margin is 9.6% of revenue over the trailing twelve months, ranking 8 of the 42 specialty chemicals companies we cover.
What is Axalta Coating Systems Ltd.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Axalta Coating Systems Ltd.'s free cash flow after stock-based pay gives ~$32 per share in the base case, and ~$21–$46 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Axalta Coating Systems Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Artisan Partners Limited Partnership, Blackrock, Inc. and Barrow Hanley Mewhinney & Strauss LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Axalta Coating Systems Ltd.'s market cap?
On November 2, 2026, Axalta Coating Systems Ltd.'s market capitalisation was about $7.7B, with a price-to-earnings ratio of 23.0 and net debt of $2.4B. Market figures come from third-party market data and may be delayed.
How much debt does Axalta Coating Systems Ltd. have?
Axalta Coating Systems Ltd.'s debt-to-equity ratio is 114.3%, from its latest balance sheet (271.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Axalta Coating Systems Ltd.'s competitors?
In our Specialty Chemicals peer group, the companies closest to Axalta Coating Systems Ltd. are Albemarle Corporation, Cabot Corp, Fuller H B Co, Element Solutions Inc and RPM International Inc. The side-by-side comparison below sets their revenue, margins and growth against Axalta Coating Systems Ltd.'s.
When is Axalta Coating Systems Ltd.'s next earnings date?
Around February 9, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Axalta Coating Systems Ltd. announces its own schedule.