Financials · PPG

PPG Industries Inc. (PPG) financials

For the twelve months ended Sep 30, 2026, PPG Industries Inc. reported $16.69B of revenue and $1.58B of net income.

Revenue, TTM
$16.69B
Revenue growth, YoY
+6.4%
Net income, TTM
$1.58B
Net income growth, YoY
+56.2%
Net margin
9.4%
Free cash flow, TTM
$1.28B
EPS, diluted, TTM
$7.00
EPS growth, YoY
+58.0%
Cash
$1.59B
Total debt
$6.84B
P/E
17.15
P/S
1.62
Market cap
$27.03B
Annual revenue$15.88B
FY2016FY2025
Annual net income$1.58B
FY2016FY2025
Annual free cash flow$1.16B
FY2016FY2025

PPG revenue and earnings growth

PPG revenueQ3 2026$4.35B

Quarter YoY
+6.6%
QoQ
-3.2%
FY YoY
+0.2%
5Y CAGR
+2.8%
10Y CAGR
+1.1%

PPG revenue was $4.35B in fiscal Q3 2026 (ended Sep 30, 2026), up 6.6% from a year earlier and down 3.2% from the prior quarter. For the full fiscal 2025 it was $15.88B, up 0.2% from fiscal 2024. Compound annual growth was +2.8% over 5 years and +1.1% over 10 years. It rose in 6 of the last 10 fiscal years.

PPG net incomeQ3 2026$451.00M

Quarter YoY
-0.4%
QoQ
+2.5%
FY YoY
+41.2%
5Y CAGR
+8.3%
10Y CAGR
+1.1%

PPG net income was $451.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 0.4% from a year earlier and up 2.5% from the prior quarter. For the full fiscal 2025 it was $1.58B, up 41.2% from fiscal 2024. Compound annual growth was +8.3% over 5 years and +1.1% over 10 years. It rose in 4 of the last 10 fiscal years.

PPG EPSQ3 2026$2.02

Quarter YoY
+1.0%
QoQ
+3.6%
FY YoY
+46.1%
5Y CAGR
+9.3%
10Y CAGR
+3.0%

PPG diluted EPS was $2.02 in fiscal Q3 2026 (ended Sep 30, 2026), up 1.0% from a year earlier and up 3.6% from the prior quarter. For the full fiscal 2025 it was $6.94, up 46.1% from fiscal 2024. Compound annual growth was +9.3% over 5 years and +3.0% over 10 years.

PPG free cash flowQ3 2026$411.00M

Quarter YoY
-23.6%
QoQ
-7.8%
FY YoY
+66.4%
5Y CAGR
-8.6%
10Y CAGR
-2.3%

PPG free cash flow was $411.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 23.6% from a year earlier and down 7.8% from the prior quarter. For the full fiscal 2025 it was $1.16B, up 66.4% from fiscal 2024. Compound annual growth was -8.6% over 5 years and -2.3% over 10 years. It rose in 5 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$15.88B$15.85B$16.24B$15.61B$16.80B$13.83B$15.15B$15.37B$14.75B$14.27B
Cost of revenue$9.32B$9.25B$9.68B$9.97B$10.29B$7.78B$8.65B$9.00B$8.21B-
Gross profit$6.56B$6.59B$6.56B$5.64B$6.52B$6.06B$6.49B$6.37B$6.54B-
Research and development$446.00M$447.00M$446.00M$457.00M$463.00M$401.00M$456.00M$464.00M$472.00M$473.00M
Selling, general and admin$3.44B$3.39B$3.40B$3.04B$3.78B$3.39B$3.60B$3.57B$3.55B$3.56B
Operating income--$2.67B$2.04B$2.17B$2.11B$2.27B$2.12B$2.29B$2.38B
Interest expense$241.00M$241.00M$247.00M$167.00M$121.00M$138.00M$132.00M$118.00M$105.00M$125.00M
Pre-tax income$2.04B$1.85B$1.69B$1.35B$1.81B$1.36B$1.66B$1.69B$2.00B$779.00M
Income tax$458.00M$475.00M$428.00M$320.00M$374.00M$291.00M$392.00M$353.00M$615.00M$214.00M
Net income$1.58B$1.12B$1.27B$1.03B$1.44B$1.06B$1.24B$1.34B$1.59B$873.00M
EPS, basic$6.96$4.77$5.38$4.34$6.06$4.47$5.25$5.50$6.22$3.29
EPS, diluted$6.94$4.75$5.35$4.32$6.01$4.45$5.22$5.47$6.18$3.27
Diluted shares227.1M234.9M237.2M237.3M239.4M237.9M238.2M245.4M257.8M267.4M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$2.16B$1.27B$1.49B$1.08B$992.00M$1.83B$1.22B$902.00M$1.44B$1.82B
Short-term investments$56.00M$88.00M$75.00M$55.00M$67.00M$96.00M$57.00M$61.00M$55.00M$43.00M
Receivables$3.34B$2.48B$2.62B$2.82B$2.69B$2.41B$2.48B$2.50B$2.56B$2.29B
Inventory$2.00B$1.85B$1.93B$2.27B$2.17B$1.74B$1.71B$1.78B$1.73B$1.51B
Current assets$7.96B$6.56B$7.43B$7.17B$6.77B$6.80B$6.17B$5.96B$6.48B$6.57B
Goodwill$6.15B$5.69B$6.12B$5.99B$6.25B$5.10B$4.47B$4.07B$3.94B$3.57B
Total assets$22.10B$19.43B$21.65B$20.74B$21.35B$19.56B$17.71B$16.02B$16.54B$15.77B
Current liabilities$4.90B$5.01B$5.05B$4.72B$4.77B$4.83B$4.38B$4.37B$3.90B$4.25B
Short-term debt$706.00M$939.00M$306.00M$313.00M$9.00M$578.00M$513.00M$651.00M$12.00M$629.00M
Long-term debt$6.60B$4.88B$5.75B$6.50B$6.57B$5.17B$4.54B$4.37B$4.13B$3.79B
Total debt$7.31B$5.82B$6.05B$6.82B$6.58B$5.75B$5.05B$5.02B$4.15B$4.42B
Total liabilities$14.00B$12.47B$13.62B$14.04B$14.94B$13.74B$12.30B$11.28B$10.87B$10.86B
Shareholders' equity$7.94B$6.96B$8.02B$6.71B$6.41B$5.82B$5.40B$4.73B$5.67B$4.92B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$1.94B$1.42B$2.41B$963.00M$1.56B$2.13B$2.08B$1.47B$1.57B$1.35B
Capital expenditures$778.00M$721.00M$516.00M$486.00M$371.00M$304.00M$413.00M$411.00M$360.00M$380.00M
Free cash flow$1.16B$699.00M$1.90B$477.00M$1.19B$1.83B$1.67B$1.06B$1.21B$971.00M
Investing cash flow-$700.00M$107.00M-$556.00M-$461.00M-$2.40B-$1.45B-$1.01B-$764.00M-$67.00M$436.00M
Financing cash flow-$545.00M-$1.43B-$1.55B-$409.00M$93.00M-$59.00M-$758.00M-$1.21B-$1.95B-$1.21B
Dividends paid$628.00M$622.00M$598.00M$570.00M$536.00M$496.00M$468.00M$453.00M$434.00M$414.00M
Share repurchases$790.00M$752.00M$86.00M$190.00M$210.00M$0$325.00M$1.72B$813.00M$1.05B
Stock-based compensation$46.00M$42.00M$56.00M$34.00M$57.00M$44.00M$39.00M$37.00M$35.00M$45.00M
Depreciation and amortization$528.00M$492.00M$514.00M$502.00M$561.00M$509.00M$511.00M$497.00M$460.00M$440.00M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY0.2%-2.4%4.0%-7.1%21.5%-8.7%-1.5%4.2%3.3%0.2%
Net income growth, YoY41.2%-12.1%23.8%-28.7%35.9%-14.8%-7.3%-15.9%82.6%-37.9%
EPS growth, YoY46.1%-11.2%23.8%-28.1%35.1%-14.8%-4.6%-11.5%89.0%-36.4%
Gross margin41.3%41.6%40.4%36.1%38.8%43.8%42.9%41.5%44.3%-
Operating margin--16.5%13.1%12.9%15.2%15.0%13.8%15.5%16.7%
Net margin9.9%7.0%7.8%6.6%8.6%7.7%8.2%8.7%10.8%6.1%
Free cash flow margin7.3%4.4%11.7%3.1%7.1%13.2%11.0%6.9%8.2%6.8%
Return on equity19.8%16.0%15.8%15.3%22.4%18.2%23.0%28.3%28.1%17.8%
Return on assets7.1%5.7%5.9%4.9%6.7%5.4%7.0%8.4%9.6%5.5%
Current ratio1.621.311.471.521.421.411.411.361.661.55
Debt to equity0.920.840.751.021.030.990.941.060.730.90

Source: XBRL data PPG Industries Inc. files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Jul 27, 2015.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

PPG peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
PPG$16.69B+6.4%$1.58B9.4%$27.03B
RPM$7.97B+6.0%$690.41M8.7%$13.18B
AXTA$5.17B+0.1%$335.00M6.5%$7.80B

PPG FAQ

9 questions
  • What is PPG revenue?
    PPG Industries Inc. (PPG) reported $16.69B of revenue for the twelve months ended Sep 30, 2026. That is up 6.4% from the year before. Revenue for fiscal 2025 was $15.88B.
  • Is PPG profitable?
    Yes. PPG Industries Inc. earned $1.58B in net income for the twelve months ended Sep 30, 2026, a net margin of 9.4%.
  • How much cash and debt does PPG have?
    PPG Industries Inc. reported $1.59B in cash and cash equivalents and $6.84B of debt on its most recent balance sheet in SEC filings.
  • How fast is PPG revenue growing?
    PPG Industries Inc.'s revenue changed +0.2% in fiscal 2025, to $15.88B. Its compound annual growth rate was +2.8% over 5 years and +1.1% over 10 years.
  • What is PPG gross margin?
    PPG Industries Inc.'s gross profit was $6.83B on $16.69B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 40.9%.
  • What is PPG free cash flow?
    PPG Industries Inc. generated $1.28B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $2.04B less capital expenditures.
  • What is PPG earnings per share?
    Diluted earnings per share were $7.00 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did PPG last report financial results?
    The latest statements here come from PPG Industries Inc.'s 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
  • Where does this PPG financial data come from?
    Quantisnow builds these statements from the structured XBRL data PPG Industries Inc. files with the SEC. It is provided for information only and is not investment advice.