Tearsheet

Sherwin-Williams (SHW)

Market Price (12/28/2025): $325.4 | Market Cap: $80.1 Bil
Sector: Materials | Industry: Specialty Chemicals

Sherwin-Williams (SHW)

Market Price (12/28/2025): $325.4
Market Cap: $80.1 Bil
Sector: Materials
Industry: Specialty Chemicals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 3.3 Bil, FCF LTM is 2.4 Bil	Weak multi-year price returns 2Y Excs Rtn is -38%, 3Y Excs Rtn is -41%	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 24x
1	Low stock price volatility Vol 12M is 24%		Key risks SHW key risks include [1] high sensitivity to housing market downturns, Show more.
2	Megatrend and thematic drivers Megatrends include Advanced Materials, Sustainable & Green Buildings, and Sustainable Consumption. Themes include Specialty Chemicals for Performance, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 3.3 Bil, FCF LTM is 2.4 Bil
1	Low stock price volatility Vol 12M is 24%
2	Megatrend and thematic drivers Megatrends include Advanced Materials, Sustainable & Green Buildings, and Sustainable Consumption. Themes include Specialty Chemicals for Performance, Show more.
3	Weak multi-year price returns 2Y Excs Rtn is -38%, 3Y Excs Rtn is -41%
4	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 24x
5	Key risks SHW key risks include [1] high sensitivity to housing market downturns, Show more.

Valuation, Metrics & Events

	12/28/25	2024	2023	2022	2021
Share Price CYE	$325.40	$336.93	$306.58	$230.99	$339.50
Market Cap CYE ($ Bil)	80.1	84.2	77.8	59.5	88.2
Total Debt ($ Bil)	13.6	11.9	11.8	12.5	11.5
Total Cash ($ Bil)	0.2	0.2	0.3	0.2	0.2
Enterprise Value ($ Bil)	93.4	96.1	89.6	72.0	99.7
Valuation Ratios
P/S TTM	3.4	3.7	3.5	2.8	4.6
P/EBIT TTM	21.4	22.1	22.6	20.7	35.8
P/E TTM	31.2	31.8	33.3	30.3	49.6
P/FCF TTM	33.0	41.0	30.2	48.0	49.4
Sector Ratios
P/S TTM (Sector)	1.5	1.3	1.4	1.2	1.5
P/EBIT TTM (Sector)	8.1	6.8	6.6	5.1	5.8
P/E TTM (Sector)	-0.2	6.1	7.1	4.8	6.8
P/FCF TTM (Sector)	6.9	5.8	5.0	2.7	5.7

	12/28/25	2024	2023
Share Price CYE	$325.40	$336.93	$306.58
Market Cap CYE ($ Bil)	80.1	84.2	77.8
Total Debt ($ Bil)	13.6	11.9	11.8
Total Cash ($ Bil)	0.2	0.2	0.3
Enterprise Value ($ Bil)	93.4	96.1	89.6
Valuation Ratios
P/S TTM	3.4	3.7	3.5
P/EBIT TTM	21.4	22.1	22.6
P/E TTM	31.2	31.8	33.3
P/FCF TTM	33.0	41.0	30.2
Sector Ratios
P/S TTM (Sector)	1.5	1.3	1.4
P/EBIT TTM (Sector)	8.1	6.8	6.6
P/E TTM (Sector)	-0.2	6.1	7.1
P/FCF TTM (Sector)	6.9	5.8	5.0

	SHW	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	23.3
Rev Chg Q	3.2%	7.3%
Rev Chg LTM	1.0%	6.1%
Rev Chg 3Y Avg	2.4%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	3.7
CFO LTM ($ Bil)	3.3
Net Inc LTM ($ Bil)	2.6
Op Mgn LTM	15.8%	18.8%
CFO/Rev LTM	14.2%	20.4%
Net Inc Mgn	11.0%	13.1%
VALUATION	HIGH
P/S	3.4	3.3
P/CFO	24.3	15.8
P/FCF	33.0	20.7
P/E	31.2	23.7
STABILITY	FAIR
Debt/Equity	0.17	0.21
Cash/Assets	0.01	0.07

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Metric	Value	Date	Source
Global Market Share	11.41%	5222025	Link
Total Number of Employees	63890	12312024	Link
Total Number of Company-Operated Stores and Branches Worldwide	5369	6302024	Link
Number of Stores in the United States	4032	10272025	Link
Number of Manufacturing and Distribution Facilities	136	11052025	Link
Consumer Brands Group Points of Distribution	over 10,000	7082024	Link
Total Patents Globally	2766	11052025	Link
Active Patents	1175	11052025	Link

Upcoming
1/29/2026	Earnings Release	Rev: - EPS: -
4/27/2026	Earnings Release	Rev: - EPS: -

SHW Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are five key points explaining the approximate -10.8% movement in Sherwin-Williams (SHW) stock from August 31, 2025, to December 28, 2025:

1. The company reported a significant decrease in diluted and adjusted diluted net income per share in its Q2 2025 results, announced on July 22, 2025, shortly before the start of the specified period. Diluted net income per share decreased by 14.3% and adjusted diluted net income per share by 8.6% compared to the prior year's second quarter.

2. Sherwin-Williams cut its full-year 2025 profit forecast due to weakened demand, particularly for do-it-yourself (DIY) paint products, and indicated that it did not expect demand to improve in the latter half of the year. This forward-looking guidance likely weighed on the stock throughout the period.

3. To address the persistent demand softness and increased competitive intensity, the company announced it was aggressively accelerating and increasing its restructuring actions, more than doubling its full-year target to approximately $105 million. Such extensive restructuring can signal underlying operational challenges to investors.

4. In conjunction with its Q2 2025 results, Sherwin-Williams revised its full-year 2025 diluted net income per share guidance downward to a range of $10.11 to $10.41 per share, and its adjusted diluted net income per share guidance to $11.20 to $11.50 per share. This revised outlook, even with Q3 results beating estimates, indicated a very modest increase in adjusted EPS at the midpoint compared to 2024, which may have disappointed market expectations.

5. The company also announced a reduction in its capital expenditure (CapEx) spending for the year by $170 million, lowering the total CapEx from $900 million to $730 million. A reduction in CapEx can sometimes be interpreted by the market as a sign of decelerating growth prospects or a more conservative business outlook.

Stock Movement Drivers

Fundamental Drivers

The -4.6% change in SHW stock from 9/27/2025 to 12/27/2025 was primarily driven by a -6.4% change in the company's P/E Multiple.

	9272025	12272025	Change
Stock Price ($)	341.11	325.44	-4.59%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	23079.90	23275.60	0.85%
Net Income Margin (%)	11.03%	11.05%	0.21%
P/E Multiple	33.29	31.15	-6.43%
Shares Outstanding (Mil)	248.40	246.20	0.89%
Cumulative Contribution			-4.60%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025

	Return	Correlation
SHW	-4.6%
Market (SPY)	4.3%	25.6%
Sector (XLB)	3.8%	50.4%

Fundamental Drivers

The -5.4% change in SHW stock from 6/28/2025 to 12/27/2025 was primarily driven by a -5.0% change in the company's Net Income Margin (%).

	6282025	12272025	Change
Stock Price ($)	344.17	325.44	-5.44%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	23036.90	23275.60	1.04%
Net Income Margin (%)	11.63%	11.05%	-5.02%
P/E Multiple	32.03	31.15	-2.72%
Shares Outstanding (Mil)	249.40	246.20	1.28%
Cumulative Contribution			-5.46%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025

	Return	Correlation
SHW	-5.4%
Market (SPY)	12.6%	22.6%
Sector (XLB)	5.4%	58.2%

Fundamental Drivers

The -4.4% change in SHW stock from 12/27/2024 to 12/27/2025 was primarily driven by a -6.6% change in the company's P/E Multiple.

	12272024	12272025	Change
Stock Price ($)	340.26	325.44	-4.36%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	23053.50	23275.60	0.96%
Net Income Margin (%)	11.09%	11.05%	-0.40%
P/E Multiple	33.34	31.15	-6.56%
Shares Outstanding (Mil)	250.60	246.20	1.76%
Cumulative Contribution			-4.38%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025

	Return	Correlation
SHW	-4.4%
Market (SPY)	17.0%	55.0%
Sector (XLB)	10.2%	70.3%

Fundamental Drivers

The 40.8% change in SHW stock from 12/28/2022 to 12/27/2025 was primarily driven by a 23.6% change in the company's Net Income Margin (%).

	12282022	12272025	Change
Stock Price ($)	231.13	325.44	40.80%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	21680.50	23275.60	7.36%
Net Income Margin (%)	8.94%	11.05%	23.62%
P/E Multiple	30.74	31.15	1.36%
Shares Outstanding (Mil)	257.70	246.20	4.46%
Cumulative Contribution			40.52%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025

	Return	Correlation
SHW	5.8%
Market (SPY)	48.0%	51.5%
Sector (XLB)	10.9%	67.0%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
SHW Return	27%	45%	-32%	33%	10%	-3%	76%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
SHW Win Rate	50%	67%	33%	50%	58%	42%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
SHW Max Drawdown	-32%	-10%	-42%	-12%	-6%	-8%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See SHW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	SHW	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-42.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	75.0%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	648 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-33.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	50.4%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	71 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-23.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	30.9%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	171 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-41.1%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	69.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	405 days	1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Sherwin-Williams's stock fell -42.9% during the 2022 Inflation Shock from a high on 12/31/2021. A -42.9% loss requires a 75.0% gain to breakeven.

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About Sherwin-Williams (SHW)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners. The Consumer Brands Group segment supplies a portfolio of branded and private-label architectural paints, stains, varnishes, industrial products, wood finishes products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks, and adhesives to retailers and distributors. The Performance Coatings Group segment develops and sells industrial coatings for wood finishing and general industrial applications, automotive refinish products, protective and marine coatings, coil coatings, packaging coatings, and performance-based resins and colorants. It serves retailers, dealers, jobbers, licensees, and other third-party distributors through its branches and direct sales staff, as well as through outside sales representatives. The company has operations primarily in the North and South America, the Caribbean, Europe, Asia, and Australia. As of February 17, 2022, it operated approximately 5,000 company-operated stores and facilities. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.

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The Coca-Cola of paint.
The Nike of paint.

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Paints: A comprehensive range of architectural paints for interior and exterior applications in residential, commercial, and industrial markets.
Stains: Products designed to color, seal, and protect wood surfaces for both interior and exterior use.
Protective & Marine Coatings: High-performance coatings offering corrosion protection and durability for industrial assets, infrastructure, and marine environments.
Automotive Coatings: Specialized paint and finish systems developed for vehicle manufacturers and the automotive refinish industry.
Wood Finishes: Advanced coatings, lacquers, and stains tailored for the woodworking and furniture manufacturing industries.
Painting Supplies: A variety of essential tools and accessories, including brushes, rollers, and surface preparation products, to support painting projects.

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Sherwin-Williams (SHW) primarily sells its products and services to other companies, serving a highly fragmented and diversified customer base across various industries. Due to the broad and diverse nature of its customer base, Sherwin-Williams does not have a small number of identifiable "major customer companies" (in the sense of a few named public companies accounting for a significant portion of revenue) that it supplies. Instead, its primary customer segments consist of numerous businesses in the following categories:

Professional Painting Contractors: This segment comprises a vast number of small to medium-sized businesses that purchase paint, coatings, and related products for residential repaint, new residential construction, commercial projects, and property management and maintenance. These contractors are the core customers for Sherwin-Williams' "The Americas Group" retail stores.
Industrial Manufacturers and Original Equipment Manufacturers (OEMs): These are companies across various sectors that integrate Sherwin-Williams' specialized coatings, paints, and finishes into their manufacturing processes. Industries served include automotive, aerospace, heavy equipment, marine, packaging, coil, wood, and general industrial goods. This customer group is primarily served by the "Performance Coatings Group."
Large Retailers: Through its "Consumer Brands Group," Sherwin-Williams supplies its portfolio of consumer brands (such as Valspar, Minwax, Cabot, Thompson's WaterSeal) to other large retail chains. These retailers (e.g., Lowe's, Home Depot, Walmart) then sell these products to Do-It-Yourself (DIY) consumers and smaller contractors. While these retailers are direct customers for this segment, no single retailer constitutes a "major customer" for the entire Sherwin-Williams company.

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Heidi G. Petz, Chair, President and Chief Executive Officer

Heidi G. Petz became the Chair of the Board effective January 1, 2025, and has served as President and Chief Executive Officer of Sherwin-Williams since January 1, 2024. She joined the company in 2017 as part of the Valspar acquisition. Prior to her current role, she held positions of increasing responsibility, including President of the Consumer Brands Group, President of The Americas Group, and President and Chief Operating Officer. Before joining Sherwin-Williams and Valspar, Ms. Petz held various leadership roles at Newell Rubbermaid, Target Corporation, and PricewaterhouseCoopers.

Allen J. Mistysyn, Senior Vice President – Finance and Chief Financial Officer

Allen J. Mistysyn is the Senior Vice President – Finance and Chief Financial Officer of Sherwin-Williams. He began his career with the company in 1990 and has held a variety of operational and corporate finance leadership positions, including Vice President, Corporate Controller, and Senior Vice President, Corporate Controller. Mr. Mistysyn assumed the CFO role effective January 1, 2017. His tenure as CFO included overseeing the integration of the Valspar acquisition, navigating the company through a global pandemic and industry-wide supply chain challenges, and the construction of new headquarters. Mr. Mistysyn will transition to a short-term non-officer role before retiring after 35 years of service, with Benjamin E. Meisenzahl succeeding him as CFO on January 1, 2026.

Benjamin E. Meisenzahl, Chief Financial Officer (Effective January 1, 2026)

Benjamin E. Meisenzahl will become the Chief Financial Officer of Sherwin-Williams effective January 1, 2026. He has been with Sherwin-Williams for over 22 years, most recently serving as Senior Vice President – Finance for the past two and a half years. His experience at the company includes roles such as Senior Vice President – Finance Transformation, Senior Vice President – Financial Excellence Initiatives, Performance Coatings Group, and Vice President – Finance, Industrial Wood Division, Performance Coatings Group. He started his career at Sherwin-Williams as an internal auditor.

Justin T. Binns, President, Global Architectural

Justin T. Binns is the President, Global Architectural for Sherwin-Williams. He joined the company in 1997 as an Assistant Store Manager in The Paint Stores Group. Throughout his career at Sherwin-Williams, he has held numerous positions of increasing responsibility, including Store Manager, Sales Representative, District Manager, Vice President of Sales, President and General Manager of the Eastern Division, The Americas Group, and President of the Performance Coatings Group.

Colin M. Davie, President & General Manager, Global Supply Chain Division, Consumer Brands Group

Colin M. Davie serves as the President & General Manager, Global Supply Chain Division, Consumer Brands Group at Sherwin-Williams. He has an extensive background in the chemical industry, with previous experience at companies such as Valspar, Sun Chemical, DuPont, and BASF before joining Sherwin-Williams. He has held various leadership roles, including President, Senior Vice President, Chief Procurement Officer, Vice President, and Industry Manager.

Mary L. Garceau, Senior Vice President - Chief Legal Officer and Secretary

Mary L. Garceau is the Senior Vice President - Chief Legal Officer and Secretary at Sherwin-Williams. She joined the company in 2014. Prior to Sherwin-Williams, Ms. Garceau served as General Counsel of Thirty-One Gifts LLC for two years and as Vice President, General Counsel and Corporate Secretary of Bob Evans Farms Inc. for five years. Before her in-house legal career, she was a partner at the law firm Vorys, Sater, Seymour and Pease LLP. She played a key role in leading the company's legal team through the acquisition and integration of Valspar.

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The Sherwin-Williams Company (SHW) faces several key risks to its business operations and financial performance:

Sensitivity to the Housing Market and Macroeconomic Conditions: Sherwin-Williams is highly susceptible to downturns in the housing market, which includes new residential construction, residential repainting, and remodeling activities. Factors such as elevated interest rates, high mortgage rates, and fluctuating consumer confidence directly impact demand for the company's paint and coating products. A prolonged downturn in the housing market poses a significant risk to Sherwin-Williams' performance, potentially leading to reduced demand in both new construction and renovation segments.
Raw Material Cost Volatility and Supply Chain Disruptions: The company's profitability and margins are significantly affected by the fluctuating costs of key raw materials, such as titanium dioxide (TiO2), propylene, resins, additives, and solvents. Historically, TiO2 costs have been subject to considerable volatility, and elevated input costs can cut into margins. Furthermore, supply chain disruptions can lead to shortages and increased raw material prices, impacting the company's ability to produce and deliver products and forcing price increases or surcharges, which can lead to litigation.
Intense Competition and Pricing Pressure: The paint and coatings industry is highly competitive, featuring major players like PPG Industries, AkzoNobel, and Nippon Paint. This competitive landscape can lead to aggressive pricing strategies from competitors, potentially eroding Sherwin-Williams' market share and pressuring its profit margins.

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Widespread adoption of advanced self-cleaning, self-healing, or extremely durable "smart" coatings and surface materials that significantly extend the lifespan of surfaces, reducing the frequency of repainting or even eliminating the need for traditional paint applications in certain segments.

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Sherwin-Williams (symbol: SHW) operates across three primary business segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group, offering a diverse range of products including architectural paints and coatings, industrial coatings, protective and marine coatings, wood coatings, and automotive refinishes.

The addressable markets for their main products and services are sized as follows:

Global Paints and Coatings Market: This market was valued at approximately USD 207.03 billion in 2024 and is projected to reach around USD 283.55 billion by 2032.
U.S. Architectural Paints and Coatings Market: The U.S. architectural paint market was valued at USD 15.54 billion in 2024, is estimated to reach USD 16.07 billion in 2025, and is projected to reach USD 21.01 billion by 2033. Another estimate places the U.S. architectural coatings market size at USD 18.66 billion in 2024, projected to reach USD 28.37 billion by 2033.
Global Industrial Coatings Market: The global industrial coatings market was valued at USD 112.04 billion in 2024 and is projected to reach USD 142.35 billion by 2030.
Global Protective & Marine Coatings Market: This market was valued at USD 21.02 billion in 2024 and is expected to reach USD 30.92 billion by 2033. Specifically, the global marine coatings market was valued at USD 4.10 billion in 2023 and is projected to grow to USD 5.74 billion by 2031.
Global Wood Coatings Market: The global wood coatings market size was valued at USD 11.0 billion in 2024 and is expected to reach USD 17.3 billion by 2033.

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Expected Drivers of Future Revenue Growth for Sherwin-Williams (SHW)

Sherwin-Williams (SHW) is anticipated to drive future revenue growth over the next 2-3 years through several strategic initiatives and market dynamics:

Strategic Price Increases: The company has consistently implemented price adjustments and plans further increases. For instance, a 7% price increase for the Paint Stores Group is set to become effective on January 1, 2026. Earlier, a 5% price increase for the Paint Stores Group was enacted from February 1, 2024, contributing to revenue growth through improved pricing realization.
Expansion of Paint Stores Group Network: Sherwin-Williams continues to expand its physical footprint, particularly within its Paint Stores Group. The company opened 76 new stores in 2023 and had plans to open an additional 80 to 100 stores in 2024. Analyst projections suggest the addition of 20 new stores for the Paint Stores Group in Q3 2025, contributing to an overall increase in the total number of stores. This expansion helps reach new customers and enhance market penetration.
Robust Demand in Professional and Repaint Markets: Strong demand from professional contractors, alongside growth in commercial and residential repaint markets, is a significant driver. This has been a key factor for the Paint Stores Group. The recovery in housing activity also supports demand for Sherwin-Williams' paints and coatings, especially from professional contractors and homeowners undertaking renovations and maintenance.
Accelerated Strategic Investments: Sherwin-Williams is making deliberate and accelerated investments to foster above-market growth. These investments encompass enhancements in stores, an increase in sales and technical representatives, the introduction of incremental services, and advancements in digital capabilities. Furthermore, the company invested approximately $205 million in 2023 for new R&D lab projects, which are expected to be operational by the end of 2024, aiming to drive innovation.
Strategic Acquisitions and International Market Penetration: The company utilizes strategic acquisitions to bolster its market position, such as the Suvinil acquisition which closed on October 1, 2025, strengthening its presence in Latin America. Sherwin-Williams has also reported sales growth in international regions, particularly in Europe and Latin America within its Consumer Brands and Performance Coatings Groups, which helps offset softness experienced in other markets.

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Share Repurchases

Sherwin-Williams returned $2.13 billion to shareholders through dividends and share repurchases in the first nine months of 2025.
In 2024, the company returned $2.46 billion to shareholders via dividends and repurchases of 5.2 million shares of its common stock.
As of February 17, 2021, the Board of Directors authorized the purchase of an additional 45 million shares of the company's stock for treasury purposes, with 48,575,000 shares remaining authorized at December 31, 2021, and no specified expiration date for the program.

Share Issuance

In 2020, 275,000 shares of treasury stock were issued, often associated with employee equity compensation plans.

Outbound Investments

In February 2025, Sherwin-Williams announced a definitive agreement to acquire BASF's Brazilian architectural paints business, Suvinil, for $1.15 billion in an all-cash transaction, which was completed in October 2025.
The company made a total of 18 acquisitions, with peak activity in 2022 (8 acquisitions) and 2025 (2 acquisitions), spanning sectors like Paints and Coatings and Building Materials across various countries.
Notable recent acquisitions include Shingels (March 2025), Klumpp Coatings, Oskar Nolte, and ICA Group (all in 2022).

Capital Expenditures

Capital expenditures have shown a significant increase, rising from a 5-year low of $303.8 million in December 2020 to a peak of $1.07 billion in December 2024.
For 2025, the company expects capital expenditures to be approximately $730 million, a reduction from an earlier estimate of $900 million, including about $300 million for building projects.
The primary focus of capital expenditures has been on the construction of a new global headquarters and R&D center (expected to be completed in 2025), manufacturing capacity expansion, operational efficiencies, maintenance projects in its Consumer Brands and Performance Coatings Groups, and the opening of new paint stores and renovations of existing ones in the Paint Stores Group.

Better Bets than Sherwin-Williams (SHW)

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RPM (3.1%)

RPM International

Higher Rev Chg 3Y Avg (Value for SHW: 2.4%)

ALB (6.2%)

Albemarle

ECL (5.2%)

Ecolab

BCPC (3.2%)

Balchem

AXTA (2.7%)

Axalta Coating Systems

RPM (2.5%)

RPM International

Higher Op Mgn LTM (Value for SHW: 15.8%)

NEU (20.6%)

NewMarket

BCPC (20.2%)

Balchem

NGVT (18.2%)

Ingevity

ECL (17.3%)

Ecolab

DD (15.9%)

DuPont de Nemours

Higher CFO/Rev LTM (Value for SHW: 14.2%)

NEU (22.2%)

NewMarket

BCPC (19.9%)

Balchem

ALB (18.3%)

Albemarle

ECL (16.7%)

Ecolab

DD (15.3%)

DuPont de Nemours

Higher FCF/Rev LTM (Value for SHW: 10.4%)

PRM (26.6%)

Perimeter Solutions

NEU (19.9%)

NewMarket

BCPC (15.9%)

Balchem

ESI (10.7%)

Element Solutions

CE (10.5%)

Celanese

Higher Total Yield (Value for SHW: 4.2%)

LYB (14.5%)

LyondellBasell Industries

EMN (12.2%)

Eastman Chemical

PPG (6.9%)

PPG Industries

AXTA (6.5%)

Axalta Coating Systems

RPM (5.1%)

CRH (4.3%)

CRH

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SHW: 2.4% | 3.4x)

BRK-B (19.8% | 2.7x)

Berkshire Hathaway

WMT (5.4% | 1.3x)

Walmart

COST (6.7% | 1.4x)

Costco Wholesale

UNH (11.4% | 0.7x)

UnitedHealth

RTX (9.4% | 2.9x)

RTX

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SHW: 2.4% | 21.8x)

META (17.3% | 20.4x)

Meta Platforms

JNJ (6.1% | 20.7x)

Johnson & Johnson

V (10.9% | 17.3x)

Visa

KO (4.0% | 20.2x)

Coca-Cola

UNH (11.4% | 11.4x)

UnitedHealth

Higher Rev Chg LTM (Value for SHW: 1.0%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for SHW: 2.4%)

NVDA (91.6%)

NVIDIA

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

Higher Op Mgn LTM (Value for SHW: 15.8%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for SHW: 14.2%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for SHW: 10.4%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for SHW: 4.2%)

XOM (9.2%)

Exxon Mobil

JNJ (7.5%)

Johnson & Johnson

JPM (6.4%)

JPMorgan Chase

BRK-B (6.3%)

Berkshire Hathaway

V (5.1%)

Visa

		Best Bets In Materials Sector
	SHW	SCCO	USLM	CF	NEU	EXP	LIN	NEM	SMG	CBT	B
What You Pay
P/E	31.2	32.2	27.8	9.0	14.8	15.5	29.8	16.1	23.1	10.7	22.0
P/EBIT	21.4	19.4	23.7	5.6	10.7	11.4	21.4	11.1	9.6	5.5	11.3
What You Get
Rev Chg Q	3.2%	15.2%	14.1%	21.1%	-4.8%	2.5%	2.8%	20.0%	-6.6%	-10.2%	23.2%
Rev Chg LTM	1.0%	12.7%	20.3%	12.6%	-1.1%	1.5%	1.3%	26.6%	-3.9%	-7.0%	18.4%
Rev Chg 3Y Avg	2.4%	7.1%	17.8%	-13.5%	1.1%	4.1%	0.6%	23.9%	-4.5%	-4.8%	8.5%
FCF/Rev 3Y Avg	10.0%	27.0%	25.6%	22.3%	17.5%	16.7%	15.4%	13.8%	12.3%	10.3%	10.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.8%, and sharpe of 0.46

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Sherwin-Williams Earnings Notes
2	Sherwin-Williams Earnings Notes
3	Sherwin-Williams Earnings Notes
4	NewMarket or Sherwin-Williams: Which Stock Has More Upside?	Counter-Intuitive Comparisons
5	How Low Can Sherwin-Williams Stock Really Go?	Return
6	Day 10 of Loss Streak for Sherwin-Williams Stock with -7.8% Return (vs. 0.7% YTD) [9/25/2025]	Notification
7	Day 9 of Loss Streak for Sherwin-Williams Stock with -7% Return (vs. 1.6% YTD) [9/24/2025]	Notification
8	Day 8 of Loss Streak for Sherwin-Williams Stock with -6.6% Return (vs. 2% YTD) [9/23/2025]	Notification
9	Sherwin-Williams vs Newmont: Which Is A Better Investment?	Counter-Intuitive Comparisons
10	Sherwin-Williams vs NewMarket: Which Is A Better Investment?	Counter-Intuitive Comparisons

	Title
0	ARTICLES

Trade Ideas

Select ideas related to SHW. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
DD_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	DD	DuPont de Nemours	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	7.6%	7.6%	-0.2%
CF_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	CF	CF Industries	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-1.4%	-1.4%	-3.1%
HL_11212025_Quality_Momentum_RoomToRun_10%	11212025	HL	Hecla Mining	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	51.0%	51.0%	0.0%
CDE_11072025_Dip_Buyer_ValueBuy	11072025	CDE	Coeur Mining	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	30.6%	30.6%	-5.7%
ATR_10312025_Dip_Buyer_ValueBuy	10312025	ATR	AptarGroup	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.2%	6.2%	-2.5%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Sherwin-Williams

Peers to compare with:

Financials

	SHW	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Sherwin-.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	325.44	23.26	24.49	305.09	78.16	273.40	175.78
Mkt Cap	80.1	21.9	32.6	284.9	309.2	4,074.4	182.5
Rev LTM	23,276	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	3,680	3,624	1,644	11,544	12,991	130,214	7,612
FCF LTM	2,426	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	2,305	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	3,294	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	3,225	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	SHW	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Sherwin-.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	1.0%	3.2%	13.8%	4.5%	8.9%	6.0%	5.2%
Rev Chg 3Y Avg	2.4%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.5%
Rev Chg Q	3.2%	4.2%	14.4%	9.1%	7.5%	9.6%	8.3%
QoQ Delta Rev Chg LTM	0.8%	1.1%	3.7%	2.1%	1.8%	2.1%	2.0%
Op Mgn LTM	15.8%	6.6%	4.8%	17.7%	22.5%	31.9%	16.7%
Op Mgn 3Y Avg	15.8%	7.4%	7.2%	16.4%	24.2%	30.8%	16.1%
QoQ Delta Op Mgn LTM	-0.0%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.0%
CFO/Rev LTM	14.2%	6.7%	8.5%	20.6%	23.8%	26.6%	17.4%
CFO/Rev 3Y Avg	13.9%	6.8%	12.7%	21.4%	26.1%	28.4%	17.7%
FCF/Rev LTM	10.4%	5.1%	1.8%	18.1%	22.1%	23.5%	14.3%
FCF/Rev 3Y Avg	10.0%	5.5%	4.6%	18.6%	24.6%	25.6%	14.3%

Valuation

	SHW	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Sherwin-.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	80.1	21.9	32.6	284.9	309.2	4,074.4	182.5
P/S	3.4	0.4	1.0	4.4	5.4	10.0	3.9
P/EBIT	21.4	6.8	19.9	25.1	22.5	31.3	21.9
P/E	31.2	8.6	572.7	36.0	29.9	41.0	33.6
P/CFO	24.3	5.9	11.2	21.1	22.5	37.5	21.8
Total Yield	4.2%	14.1%	2.3%	5.0%	5.4%	2.8%	4.6%
Dividend Yield	1.0%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	2.9%	10.6%	5.5%	6.4%	6.0%	3.1%	5.7%
D/E	0.2	0.5	0.7	0.2	0.1	0.0	0.2
Net D/E	0.2	0.3	0.6	0.2	0.0	0.0	0.2

Returns

	SHW	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Sherwin-.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	-5.2%	-1.8%	14.4%	0.6%	2.7%	-1.5%	-0.4%
3M Rtn	-4.6%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	-5.4%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	-4.4%	-27.0%	16.2%	40.5%	34.5%	7.5%	11.8%
3Y Rtn	40.8%	-1.9%	71.1%	143.1%	81.3%	120.2%	76.2%
1M Excs Rtn	-7.4%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-3.0%
3M Excs Rtn	-8.9%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	-17.7%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	-20.8%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	-4.6%
3Y Excs Rtn	-41.2%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

Comparison Analyses

	Title
0	How Does Sherwin-Williams Stock Stack Up Against Its Peers?
1	Why SHW With 7.7% Upside May Beat MMM?
2	RPM Could Deliver 12% Returns And Outperform SHW
3	EMN Looks Stronger Than SHW With 14% Return Potential
4	With 15% Gains On The Table, PPG May Outshine SHW
5	Sherwin-Williams vs. Illinois Tool Works: With Return Forecast Of -2%, Illinois Tool Works Is A Better Bet
6	Sherwin-Williams vs. Fiserv: With Return Forecast Of 56%, Fiserv Is A Better Bet
7	Sherwin-Williams vs. Becton Dickinson and company: With Return Forecast Of 29%, Becton Dickinson and company Is A Better Bet
8	Sherwin-Williams vs. Intuit: With Return Forecast Of 24%, Intuit Is A Better Bet
9	Sherwin-Williams vs. Stryker: With Return Forecast Of 15%, Stryker Is A Better Bet

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/28/2025	2/20/2025	2/20/2024	2/22/2023	2/17/2022	2/19/2021	2/21/2020
Key Financials
Total Revenue	23,276	23,098	23,052	22,149	19,945	18,362	17,901
EBITDA	4,399	4,492	4,150	3,545	3,156	3,441	2,906
Operating Income	3,680	3,762	3,606	3,001	2,665	2,854	2,425
Net Income	2,572	2,681	2,389	2,020	1,864	2,030	1,541
EPS	10.36	10.68	9.35	7.83	7.10	7.48	5.60
Growth Rates
Total Revenue Growth	1.0%	0.2%	4.1%	11.1%	8.6%	2.6%	2.1%
EBITDA Growth	1.4%	8.2%	17.1%	12.3%	-8.3%	18.4%	25.1%
Operating Income Growth	-2.2%	4.3%	20.2%	12.6%	-6.6%	17.7%	28.3%
Net Income Growth	0.6%	12.2%	18.3%	8.4%	-8.2%	31.7%	39.0%
Margins
EBITDA Margin	18.9%	19.4%	18.0%	16.0%	15.8%	18.7%	16.2%
Operating Income Margin	15.8%	16.3%	15.6%	13.5%	13.4%	15.5%	13.5%
Net Income Margin	11.0%	11.6%	10.4%	9.1%	9.3%	11.1%	8.6%
Cash & Debt
Total Cash	242	210	277	199	166	227	162
Total Debt	13,578	11,913	11,810	12,508	11,495	10,114	10,428
Net Debt / (Cash)	13,336	11,703	11,533	12,309	11,330	9,887	10,266
Cash Flows
Net Cash from Operations	3,294	3,153	3,522	1,920	2,245	3,409	2,321
Free Cash from Operations	2,426	2,083	2,634	1,275	1,873	3,105	1,992
Returns to Shareholders
Dividends	774	723	624	618	587	488	421
Share Repurchases	1,849	1,739	1,432	883	2,752	2,446	779

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/28/2025	7/24/2025	4/29/2025	2/20/2025	10/22/2024	7/23/2024	4/30/2024	2/20/2024	10/24/2023	7/25/2023	4/25/2023	2/22/2023
Key Financials Quarterly
Total Revenue	6,358	6,314	5,306	5,297	6,162	6,272	5,367	5,252	6,117	6,241	5,442	5,230
Ebitda	1,345	1,261	918	876	1,282	1,438	896	723	1,266	1,282	878	752
Operating Income	1,154	1,099	754	674	1,131	1,232	726	675	1,110	1,108	713	613
Net Income	833	755	504	480	806	890	505	356	762	794	477	386
EPS	3.38	3.04	2.02	1.92	3.22	3.55	2.00	1.40	2.98	3.10	1.86	1.50
Key Financials TTM
Total Revenue TTM	23,276	23,080	23,037	23,098	23,054	23,008	22,977	23,052	23,030	22,961	22,593	22,149
Ebitda TTM	4,399	4,336	4,513	4,492	4,338	4,323	4,168	4,150	4,179	4,037	3,730	3,545
Operating Income TTM	3,680	3,658	3,790	3,762	3,763	3,742	3,619	3,606	3,545	3,408	3,147	3,001
Net Income TTM	2,572	2,545	2,680	2,681	2,558	2,513	2,417	2,389	2,419	2,342	2,127	2,020
Growth Rates Quarterly
Total Revenue Growth	3.2%	0.7%	-1.1%	0.9%	0.7%	0.5%	-1.4%	0.4%	1.1%	6.3%	8.9%	9.8%
EBITDA Growth	4.9%	-12.3%	2.4%	21.2%	1.2%	12.1%	2.0%	-3.8%	12.6%	31.4%	26.7%	40.9%
Operating Income Growth	2.0%	-10.8%	3.9%	-0.2%	1.9%	11.1%	1.8%	10.0%	14.1%	30.8%	25.8%	64.5%
Net Income Growth	3.3%	-15.2%	-0.3%	34.8%	5.9%	12.1%	5.8%	-7.8%	11.2%	37.3%	28.7%	27.1%
Margins Quarterly
EBITDA Margin	21.1%	20.0%	17.3%	16.5%	20.8%	22.9%	16.7%	13.8%	20.7%	20.6%	16.1%	14.4%
Operating Income Margin	18.1%	17.4%	14.2%	12.7%	18.4%	19.6%	13.5%	12.8%	18.2%	17.8%	13.1%	11.7%
Net Income Margin	13.1%	12.0%	9.5%	9.1%	13.1%	14.2%	9.4%	6.8%	12.4%	12.7%	8.8%	7.4%
Cash & Debt
Total Cash	242	270	200	210	238	200	180	277	503	209	151	199
Total Debt	13,578	12,770	12,820	11,913	12,099	12,300	12,684	11,810	11,880	12,341	13,000	12,508
Net Debt / (Cash)	13,336	12,500	12,620	11,703	11,861	12,100	12,504	11,533	11,377	12,131	12,849	12,309
Cash Flows Quarterly
FCF from Operations	1,308	1,113	-61	934	1,075	1,203	-59	919	1,309	1,206	88	641
Cash Flows TTM
FCF from Operations TTM	3,294	3,061	3,151	3,153	3,137	3,371	3,375	3,522	3,244	2,575	1,982	1,920
Returns to Shareholders Quarterly
Dividends	196	198	200	180	182	179	182	155	156	156	156	156
Share Repurchases	668	518	352	310	449	434	546	486	410	234	302	132
Return on Invested Capital (ROIC) Quarterly
ROIC	27.2%	26.9%	18.4%	18.0%	30.1%	30.9%	18.3%	17.6%	29.5%	28.7%	17.2%	15.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	21.4%	22.7%	23.2%	25.0%	24.5%	23.6%	22.3%	24.0%	24.1%	21.9%	19.1%	19.1%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Paint Stores Group	12,840	11,963	11,217	10,383	10,172
Consumer Brands Group	8,600	8,603	7,133	6,742	6,284
Performance Coatings Group	7,041	6,997	6,154	5,060	5,165
Administrative	-5,428	-5,415	-4,559	-3,823	-3,720
Total	23,052	22,149	19,945	18,362	17,901

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Performance Coatings Group	8,267	8,297	8,389	8,071	8,176
Consumer Brands Group	6,632	6,750	5,161	5,387	5,601
Paint Stores Group	5,745	5,874	5,628	5,387	5,399
Administrative	2,311	1,674	1,489	1,556	1,321
Total	22,954	22,594	20,667	20,402	20,496

Price Behavior

Price Behavior

Market Price	$325.44
Market Cap ($ Bil)	80.1
First Trading Date	07/01/1985
Distance from 52W High	-13.1%
	50 Days	200 Days
DMA Price	$334.22	$343.30
DMA Trend	indeterminate	down
Distance from DMA	-2.6%	-5.2%
	3M	1YR
Volatility	21.5%	24.3%
Downside Capture	69.68	85.26
Upside Capture	32.82	67.47
Correlation (SPY)	25.9%	55.0%

SHW Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.80	0.44	0.52	0.61	0.71	0.82
Up Beta	0.47	0.41	0.82	1.03	0.72	0.78
Down Beta	-0.50	0.36	0.20	0.26	0.53	0.65
Up Capture	98%	40%	28%	38%	57%	75%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	20	28	57	109	374
Down Capture	112%	54%	81%	84%	96%	99%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	21	34	68	138	374

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of SHW With Other Asset Classes (Last 1Y)
	SHW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-5.0%	9.9%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	24.1%	19.9%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	-0.27	0.36	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		70.4%	55.0%	-1.5%	-7.4%	64.3%	15.8%

ETFs used for asset classes: Sector ETF = XLB, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of SHW With Other Asset Classes (Last 5Y)
	SHW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	7.0%	7.2%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	25.5%	18.9%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	0.26	0.29	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		61.4%	54.8%	7.3%	-4.7%	57.5%	15.0%

Based On 10-Year Data

		Comparison of SHW With Other Asset Classes (Last 10Y)
	SHW	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	15.1%	10.1%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	26.4%	20.7%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.56	0.44	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		65.9%	61.2%	4.5%	9.5%	56.3%	12.2%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	3,876,701
Short Interest: % Change Since 11302025	-10.8%
Average Daily Volume	1,644,806
Days-to-Cover Short Interest	2.36
Basic Shares Quantity	246,200,000
Short % of Basic Shares	1.6%

Returns Analyses

	Title
0	How Low Can Sherwin-Williams Stock Really Go?
1	SHW YTD Stock Return Of 7.0% Outperforms DOW by 33% and Underperforms MMM by -7.8%
2	SHW YTD Stock Return Of 0.08% Outperforms RPM by 13% and Underperforms DOW by -13%
3	Sherwin-Williams Stock Return Comparison
4	Sherwin-Williams Total Shareholder Return (TSR): -31.9% in 2022 and 7.7% 3-yr returns (above peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/28/2025	5.5%	2.8%	2.2%
7/22/2025	-0.4%	-1.5%	8.0%
4/29/2025	4.8%	8.3%	7.0%
1/30/2025	1.4%	1.1%	0.5%
10/22/2024	-5.3%	-4.8%	-2.0%
7/23/2024	6.9%	9.4%	10.5%
4/23/2024	-2.2%	-1.0%	0.5%
1/25/2024	0.9%	1.1%	7.2%
...
SUMMARY STATS
# Positive	13	14	17
# Negative	11	10	7
Median Positive	3.0%	3.1%	7.0%
Median Negative	-2.2%	-1.8%	-5.6%
Max Positive	9.4%	9.4%	16.3%
Max Negative	-8.9%	-7.7%	-14.8%

	Forward Returns
10/28/2025	5.5%	2.8%	2.2%
7/22/2025	-0.4%	-1.5%	8.0%
4/29/2025	4.8%	8.3%	7.0%
1/30/2025	1.4%	1.1%	0.5%
10/22/2024	-5.3%	-4.8%	-2.0%
7/23/2024	6.9%	9.4%	10.5%
4/23/2024	-2.2%	-1.0%	0.5%
1/25/2024	0.9%	1.1%	7.2%
10/24/2023	-1.5%	-1.3%	14.9%
7/25/2023	3.0%	3.2%	1.1%
4/25/2023	-0.7%	-2.0%	-3.8%
1/26/2023	-8.9%	-1.6%	-10.3%
10/25/2022	3.6%	5.9%	14.8%
7/27/2022	-8.8%	-4.2%	-5.6%
4/26/2022	9.4%	8.4%	4.1%
1/14/2022	-2.8%	-7.7%	-14.8%
10/26/2021	2.0%	0.1%	5.9%
7/27/2021	0.8%	2.1%	6.4%
4/27/2021	-0.0%	3.1%	6.2%
1/28/2021	-0.8%	-2.3%	-5.0%
10/27/2020	0.5%	5.8%	9.9%
7/28/2020	1.3%	2.5%	7.4%
4/29/2020	5.9%	4.7%	16.3%
1/30/2020	-3.6%	-1.3%	-12.2%
SUMMARY STATS
# Positive	13	14	17
# Negative	11	10	7
Median Positive	3.0%	3.1%	7.0%
Median Negative	-2.2%	-1.8%	-5.6%
Max Positive	9.4%	9.4%	16.3%
Max Negative	-8.9%	-7.7%	-14.8%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10282025	10-Q 9/30/2025
6302025	7242025	10-Q 6/30/2025
3312025	4292025	10-Q 3/31/2025
12312024	2202025	10-K 12/31/2024
9302024	10222024	10-Q 9/30/2024
6302024	7232024	10-Q 6/30/2024
3312024	4302024	10-Q 3/31/2024
12312023	2202024	10-K 12/31/2023
9302023	10242023	10-Q 9/30/2023
6302023	7252023	10-Q 6/30/2023
3312023	4252023	10-Q 3/31/2023
12312022	2222023	10-K 12/31/2022
9302022	10252022	10-Q 9/30/2022
6302022	7272022	10-Q 6/30/2022
3312022	4262022	10-Q 3/31/2022
12312021	2172022	10-K 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Sherwin-Williams (SHW)

Market Price (12/28/2025): $325.4 | Market Cap: $80.1 BilSector: Materials | Industry: Specialty Chemicals

Sherwin-Williams (SHW)

Market Price (12/28/2025): $325.4Market Cap: $80.1 BilSector: MaterialsIndustry: Specialty Chemicals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

SHW Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

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About Sherwin-Williams (SHW)

Expected Drivers of Future Revenue Growth for Sherwin-Williams (SHW)

Interactive Breakdown

Better Bets than Sherwin-Williams (SHW)

INDUSTRY: Specialty Chemicals

Higher Rev Chg 3Y Avg | Lower P/S (Values for SHW: 2.4% | 3.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SHW: 2.4% | 21.8x)

Higher Rev Chg LTM (Value for SHW: 1.0%)

Higher Rev Chg 3Y Avg (Value for SHW: 2.4%)

Higher Op Mgn LTM (Value for SHW: 15.8%)

Higher CFO/Rev LTM (Value for SHW: 14.2%)

Higher FCF/Rev LTM (Value for SHW: 10.4%)

Higher Total Yield (Value for SHW: 4.2%)

SECTOR: Materials

Higher Rev Chg 3Y Avg | Lower P/S (Values for SHW: 2.4% | 3.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SHW: 2.4% | 21.8x)

Higher Rev Chg LTM (Value for SHW: 1.0%)

Higher Rev Chg 3Y Avg (Value for SHW: 2.4%)

Higher Op Mgn LTM (Value for SHW: 15.8%)

Higher CFO/Rev LTM (Value for SHW: 14.2%)

Higher FCF/Rev LTM (Value for SHW: 10.4%)

Higher Total Yield (Value for SHW: 4.2%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SHW: 2.4% | 3.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SHW: 2.4% | 21.8x)

Higher Rev Chg LTM (Value for SHW: 1.0%)

Higher Rev Chg 3Y Avg (Value for SHW: 2.4%)

Higher Op Mgn LTM (Value for SHW: 15.8%)

Higher CFO/Rev LTM (Value for SHW: 14.2%)

Higher FCF/Rev LTM (Value for SHW: 10.4%)

Higher Total Yield (Value for SHW: 4.2%)

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Market Price (12/28/2025): $325.4 | Market Cap: $80.1 Bil
Sector: Materials | Industry: Specialty Chemicals

Market Price (12/28/2025): $325.4
Market Cap: $80.1 Bil
Sector: Materials
Industry: Specialty Chemicals