Sherwin-Williams income statement

In fiscal 2025, Sherwin-Williams reported revenue of $23.57bn, up 2.1% on the year before and net income of $2.57bn, or $10.26 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

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

Sherwin-Williams: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	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	7.1	7.8	8.8	9.5	10.2	11.1	11.3	11.9	15.0	17.5	17.9	18.4	19.9	22.1	23.1	23.1	23.6	24.9
Cost of revenue	3.8	4.3	5.0	5.3	5.6	6.0	5.8	5.9	8.3	10.1	9.9	9.7	11.4	12.8	12.3	11.9	12.1	12.8
Gross profit	3.3	3.5	3.7	4.2	4.6	5.2	5.6	5.9	6.7	7.4	8.0	8.7	8.5	9.3	10.8	11.2	11.5	12.1
Research and development	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.1	0.1	—	—	—	—	—	—	—	—
Selling, general and administrative	2.5	2.7	3.0	3.3	3.5	3.8	3.9	4.1	4.8	5.0	5.3	5.5	5.9	6.3	7.1	7.4	7.7	8.1
Operating income	—	0.9	1.0	1.3	1.4	1.7	2.0	2.2	2.2	2.6	2.8	3.4	3.1	3.4	4.2	—	—	—
Interest expense	0.0	0.1	0.0	0.0	0.1	0.1	0.1	0.2	0.3	0.4	0.3	0.3	0.3	0.4	0.4	0.4	0.5	0.5
Income before tax	0.6	0.7	0.7	0.9	1.1	1.3	1.5	1.6	1.5	1.4	2.0	2.5	2.2	2.6	3.1	3.5	3.3	3.5
Income tax	0.2	0.2	0.3	0.3	0.3	0.4	0.5	0.5	−0.3	0.3	0.4	0.5	0.4	0.6	0.7	0.8	0.8	0.8
Net income	0.4	0.5	0.4	0.6	0.8	0.9	1.1	1.1	1.7	1.1	1.5	2.0	1.9	2.0	2.4	2.7	2.6	2.7
Diluted EPS	$1.26	$1.40	$1.38	$2.01	$2.42	$2.92	$3.72	$4.00	$6.07	$3.89	$5.50	$7.36	$6.98	$7.72	$9.25	$10.55	$10.26	$10.86
Diluted shares (average)	343m	326m	317m	312m	309m	296m	284m	283m	285m	285m	280m	276m	267m	262m	258m	254m	250m	246m
EBITDA	—	1.1	1.1	1.5	1.6	1.9	2.1	2.3	2.5	2.9	3.1	3.6	3.3	3.7	4.5	—	—	—

US$ millions unless shown otherwise. Fiscal quarters.

Sherwin-Williams: income statement, quarterly
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	5,297	5,306	6,315	6,358	5,596	5,667	6,789	6,860
Cost of revenue	2,724	2,747	3,196	3,233	2,883	2,886	3,451	3,583
Gross profit	2,573	2,559	3,118	3,126	2,713	2,781	3,338	3,277
Selling, general and administrative	1,883	1,794	2,012	1,953	1,937	1,970	2,104	2,069
Interest expense	99	104	112	117	132	132	136	139
Income before tax	616	653	986	1,061	639	680	1,113	1,064
Income tax	136	149	231	227	162	145	269	243
Net income	480	504	755	833	477	535	844	821
Diluted EPS	$1.90	$2.00	$3.00	$3.35	$1.92	$2.15	$3.43	$3.38

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

Compare with peers

Head to head: LYB vs SHW ECL vs SHW PPG vs SHW

More: Specialty Chemicals stocks compared, Materials sector, rankings of US companies

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.