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Sherwin-Williams cash flow statement

In fiscal 2025, Sherwin-Williams's operations generated $3.45bn of cash; it spent $798m on capital projects, leaving free cash flow of $2.65bn. It returned $790m in dividends and $1.66bn through buybacks.

Cash flow statement

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

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations8597077368881,0841,0821,4471,3091,8841,9442,3213,4092,2451,9203,5223,1533,4523,684
Depreciation and amortisation145140151152159169170172285278262268263264292297340394
Stock-based pay234248545865727290831029698100116138124117
Capital spending911251541571672012342392232513293043726458881,070798606
Free cash flow7685815827319178811,2131,0701,6611,6931,9923,1051,8731,2752,6342,0832,6543,078
Free cash flow after stock pay7455395346768598161,1419971,5711,6101,8913,0091,7751,1762,5181,9452,5312,961
Dividends paid163156154161205215250312319323421488587619624723790785
Share buybacks5303763675587691,4891,0350—6137792,4462,7528831,4321,7391,6562,475

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Sherwin-Williams's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Sherwin-Williams.