Axalta Coating Systems Ltd. income statement
In fiscal 2025, Axalta Coating Systems Ltd. reported revenue of $5.12bn, down 3.0% on the year before, operating income of $735m (a 14.4% margin) and net income of $378m, or $1.74 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Cost of revenue | — | — | 2,529 | 2,781 | 3,106 | 2,918 | 2,458 | 2,987 | 3,466 | 3,566 | 3,478 | 3,355 | 3,436 |
| Gross profit | — | — | 1,564 | 1,597 | 1,590 | 1,564 | 1,280 | 1,429 | 1,418 | 1,618 | 1,798 | 1,762 | 1,737 |
| Research and development | 50 | 52 | 58 | 65 | 73 | 70 | 55 | 62 | 66 | 74 | 74 | 71 | 70 |
| Selling, general and administrative | 992 | 915 | 960 | 935 | 876 | 822 | 695 | 739 | 772 | 840 | 847 | 805 | 812 |
| Operating income | 370 | 466 | 405 | 364 | 442 | 488 | 306 | 462 | 423 | 588 | 706 | 735 | 640 |
| Interest expense | 218 | 197 | 178 | 147 | 160 | 163 | 150 | 134 | 140 | 213 | 205 | 176 | 154 |
| Income before tax | 37 | 158 | 83 | 190 | 268 | 330 | 122 | 341 | 257 | 355 | 496 | 546 | 486 |
| Income tax | 2 | 62 | 38 | 142 | 54 | 77 | 0 | 76 | 65 | 86 | 105 | 167 | 151 |
| 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 |
| Diluted shares (average) | 230m | 240m | 244m | 246m | 243m | 236m | 236m | 232m | 222m | 222m | 220m | 217m | 215m |
| EBITDA | 678 | 773 | 727 | 711 | 811 | 841 | 626 | 779 | 726 | 864 | 986 | 1,030 | 950 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,311 | 1,262 | 1,305 | 1,288 | 1,262 | 1,254 | 1,346 | 1,311 |
| Cost of revenue | 864 | 829 | 848 | 838 | 840 | 838 | 881 | 877 |
| Gross profit | 447 | 433 | 457 | 450 | 422 | 416 | 465 | 434 |
| Research and development | 19 | 17 | 20 | 18 | 16 | 18 | 18 | 18 |
| Selling, general and administrative | 216 | 202 | 208 | 197 | 198 | 200 | 213 | 201 |
| Operating income | 187 | 176 | 193 | 204 | 162 | 146 | 167 | 165 |
| Interest expense | 47 | 44 | 45 | 45 | 42 | 38 | 37 | 37 |
| Income before tax | 139 | 129 | 143 | 155 | 119 | 105 | 134 | 128 |
| Income tax | 2 | 30 | 33 | 45 | 59 | 14 | 45 | 33 |
| Net income | 137 | 99 | 109 | 110 | 60 | 90 | 89 | 95 |
| Diluted EPS | $0.63 | $0.45 | $0.50 | $0.51 | $0.28 | $0.42 | $0.41 | $0.44 |
| EBITDA | 260 | 246 | 267 | 278 | 239 | 222 | 243 | 246 |
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