Financials · SHW

Sherwin-Williams Company (SHW) financials

For the twelve months ended Sep 30, 2026, Sherwin-Williams Company reported $24.91B of revenue and $2.68B of net income.

Revenue, TTM
$24.91B
Revenue growth, YoY
+7.0%
Net income, TTM
$2.68B
Net income growth, YoY
+4.1%
Net margin
10.7%
Free cash flow, TTM
$3.08B
EPS, diluted, TTM
$10.87
EPS growth, YoY
+6.0%
Cash
$264.20M
Total debt
$9.44B
P/E
31.06
P/S
3.34
Market cap
$83.13B
Annual revenue$23.57B
FY2016FY2025
Annual net income$2.57B
FY2016FY2025
Annual free cash flow$2.65B
FY2016FY2025

SHW revenue and earnings growth

SHW revenueQ3 2026$6.86B

Quarter YoY
+7.9%
QoQ
+1.0%
FY YoY
+2.1%
5Y CAGR
+5.1%
10Y CAGR
+7.6%

SHW revenue was $6.86B in fiscal Q3 2026 (ended Sep 30, 2026), up 7.9% from a year earlier and up 1.0% from the prior quarter. For the full fiscal 2025 it was $23.57B, up 2.1% from fiscal 2024. Compound annual growth was +5.1% over 5 years and +7.6% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

SHW net incomeQ3 2026$821.00M

Quarter YoY
-1.5%
QoQ
-2.7%
FY YoY
-4.2%
5Y CAGR
+4.8%
10Y CAGR
+9.3%

SHW net income was $821.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 1.5% from a year earlier and down 2.7% from the prior quarter. For the full fiscal 2025 it was $2.57B, down 4.2% from fiscal 2024. Compound annual growth was +4.8% over 5 years and +9.3% over 10 years. It rose in 7 of the last 10 fiscal years.

SHW EPSQ3 2026$3.38

Quarter YoY
+0.9%
QoQ
-1.5%
FY YoY
-2.7%
5Y CAGR
+6.9%
10Y CAGR
+10.7%

SHW diluted EPS was $3.38 in fiscal Q3 2026 (ended Sep 30, 2026), up 0.9% from a year earlier and down 1.5% from the prior quarter. For the full fiscal 2025 it was $10.26, down 2.7% from fiscal 2024. Compound annual growth was +6.9% over 5 years and +10.7% over 10 years.

SHW free cash flowQ3 2026$975.80M

Quarter YoY
-12.2%
QoQ
-21.2%
FY YoY
+27.4%
5Y CAGR
-3.1%
10Y CAGR
+8.1%

SHW free cash flow was $975.80M in fiscal Q3 2026 (ended Sep 30, 2026), down 12.2% from a year earlier and down 21.2% from the prior quarter. For the full fiscal 2025 it was $2.65B, up 27.4% from fiscal 2024. Compound annual growth was -3.1% over 5 years and +8.1% over 10 years. It rose in 6 of the last 10 fiscal years.

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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$23.57B$23.10B$23.05B$22.15B$19.94B$18.36B$17.90B$17.53B$14.98B$11.86B
Cost of revenue$12.06B$11.90B$12.29B$12.82B$11.40B$9.68B$9.86B$10.12B$8.27B$5.93B
Gross profit$11.52B$11.20B$10.76B$9.33B$8.54B$8.68B$8.04B$7.42B$6.72B$5.92B
Research and development-------$51.92M$58.47M$58.04M
Selling, general and admin$7.70B$7.42B$7.07B$6.33B$5.88B$5.48B$5.27B$5.03B$4.80B$4.14B
Operating income--$4.16B$3.40B$3.08B$3.37B$2.81B$2.61B$2.24B$2.16B
Interest expense$465.00M$415.70M$417.50M$390.80M$334.70M$340.40M$349.30M$366.70M$263.50M$154.09M
Pre-tax income$3.34B$3.45B$3.11B$2.57B$2.25B$2.52B$1.98B$1.36B$1.47B$1.60B
Income tax$769.70M$770.40M$721.10M$553.00M$384.20M$488.80M$440.50M$251.00M-$300.20M$462.53M
Net income$2.57B$2.68B$2.39B$2.02B$1.86B$2.03B$1.54B$1.11B$1.73B$1.13B
EPS, basic$10.37$10.68$9.35$7.83$7.10$7.48$5.60$3.97$6.20$4.11
EPS, diluted$10.26$10.55$9.25$7.72$6.98$7.36$5.50$3.89$6.07$4.00
Diluted shares250.4M254.1M258.3M261.8M267.1M275.8M280.3M285.0M284.8M283.5M

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$207.20M$210.40M$276.80M$198.80M$165.70M$226.60M$161.80M$155.50M$204.20M$889.80M
Receivables$2.79B$2.39B$2.47B$2.56B$2.35B$2.08B$2.09B$2.02B$2.10B$1.23B
Inventory$2.32B$2.29B$2.33B$2.63B$1.93B$1.80B$1.89B$1.82B$1.74B$1.07B
Current assets$6.01B$5.40B$5.51B$5.91B$5.05B$4.59B$4.63B$4.34B$4.41B$3.63B
Goodwill$8.04B$7.58B$7.63B$7.58B$7.13B$7.05B$7.00B$6.96B$6.81B$1.13B
Total assets$25.90B$23.63B$22.95B$22.59B$20.67B$20.40B$20.50B$19.13B$19.90B$6.75B
Current liabilities$6.92B$6.81B$6.63B$5.96B$5.72B$4.59B$4.52B$4.30B$3.99B$2.83B
Short-term debt$350.10M$1.05B$1.10B$600.0K$260.60M$25.10M$429.80M$307.20M$1.20M$700.48M
Long-term debt$9.32B$8.18B$8.38B$9.59B$8.59B$8.27B$8.05B$8.71B$9.89B$1.21B
Total debt$9.67B$9.23B$9.48B$9.59B$8.85B$8.29B$8.48B$9.02B$9.89B$1.91B
Total liabilities-------$15.40B$16.25B$4.87B
Shareholders' equity$4.60B$4.05B$3.72B$3.10B$2.44B$3.61B$4.12B$3.73B$3.65B$1.88B

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$3.45B$3.15B$3.52B$1.92B$2.24B$3.41B$2.32B$1.94B$1.88B$1.31B
Capital expenditures$797.60M$1.07B$888.40M$644.50M$372.00M$303.80M$328.90M$251.00M$222.80M$239.03M
Free cash flow$2.65B$2.08B$2.63B$1.28B$1.87B$3.10B$1.99B$1.69B$1.66B$1.07B
Investing cash flow-$2.07B-$1.20B-$1.04B-$1.61B-$476.40M-$322.40M-$462.60M-$251.60M-$9.05B-$303.77M
Financing cash flow-$1.38B-$2.02B-$2.42B-$282.40M-$1.83B-$3.02B-$1.85B-$1.75B$6.51B-$307.35M
Dividends paid$789.80M$723.40M$623.70M$618.50M$587.10M$488.00M$420.80M$322.90M$319.00M$312.08M
Stock-based compensation$123.50M$138.10M$115.90M$99.70M$97.70M$95.90M$101.70M$82.60M$90.30M$72.11M

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, YoY2.1%0.2%4.1%11.1%8.6%2.6%2.1%17.0%26.4%4.6%
Net income growth, YoY-4.2%12.2%18.3%8.4%-8.2%31.7%39.0%-35.8%52.5%7.5%
EPS growth, YoY-2.7%14.1%19.8%10.6%-5.2%33.8%41.4%-35.9%51.8%7.5%
Gross margin48.8%48.5%46.7%42.1%42.8%47.3%44.9%42.3%44.8%49.9%
Operating margin--18.1%15.3%15.5%18.4%15.7%14.9%14.9%18.3%
Net margin10.9%11.6%10.4%9.1%9.3%11.1%8.6%6.3%11.5%9.6%
Free cash flow margin11.3%9.0%11.4%5.8%9.4%16.9%11.1%9.7%11.1%9.0%
Return on equity55.9%66.2%64.3%65.1%76.5%56.2%37.4%29.7%47.4%60.3%
Return on assets9.9%11.3%10.4%8.9%9.0%10.0%7.5%5.8%8.7%16.8%
Current ratio0.870.790.830.990.881.001.021.011.111.28
Debt to equity2.102.282.553.093.632.302.062.422.711.02

Source: XBRL data Sherwin-Williams Company files with the SEC, latest filing dated Oct 27, 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: 3-for-1, first reported Apr 28, 2021.

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.

SHW peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
SHW$24.91B+7.0%$2.68B10.7%$83.13B
HD$169.18B+2.5%$14.23B8.4%$342.68B
LOW$90.43B+8.2%$6.64B7.3%$125.98B
FAST$9.08B+13.5%$1.42B15.6%$60.79B
TSCO$15.94B+3.5%$1.85B11.6%$18.94B
QXO$9.90B+408.3%-$511.70M-5.2%$11.99B
BLDR$14.36B-8.3%$40.58M0.3%$6.73B
FND$4.75B+1.8%$239.73M5.1%$5.34B
BCC$6.59B+1.2%$120.31M1.8%$2.44B

SHW FAQ

9 questions
  • What is SHW revenue?
    Sherwin-Williams Company (SHW) reported $24.91B of revenue for the twelve months ended Sep 30, 2026. That is up 7.0% from the year before. Revenue for fiscal 2025 was $23.57B.
  • Is SHW profitable?
    Yes. Sherwin-Williams Company earned $2.68B in net income for the twelve months ended Sep 30, 2026, a net margin of 10.7%.
  • How much cash and debt does SHW have?
    Sherwin-Williams Company reported $264.20M in cash and cash equivalents and $9.44B of debt on its most recent balance sheet in SEC filings.
  • How fast is SHW revenue growing?
    Sherwin-Williams Company's revenue changed +2.1% in fiscal 2025, to $23.57B. Its compound annual growth rate was +5.1% over 5 years and +7.6% over 10 years.
  • What is SHW gross margin?
    Sherwin-Williams Company's gross profit was $12.11B on $24.91B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 48.6%.
  • What is SHW free cash flow?
    Sherwin-Williams Company generated $3.08B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $3.68B less capital expenditures.
  • What is SHW earnings per share?
    Diluted earnings per share were $10.87 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did SHW last report financial results?
    The latest statements here come from Sherwin-Williams Company's 10-Q filed on Oct 27, 2026, covering the period ended Sep 30, 2026.
  • Where does this SHW financial data come from?
    Quantisnow builds these statements from the structured XBRL data Sherwin-Williams Company files with the SEC. It is provided for information only and is not investment advice.