PPG Industries, Inc.PPG
NYSE•Basic Materials•Specialty Chemicals
PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through three segments: Global Architectural Coatings, Performance Coatings, and Industrial Coatings. The Global Architectural Coatings segment supplies a variety of decorative coatings, adhesives, sealants, and finishes, as well as paint strippers, stains, and related chemicals. Its Performance Coatings segment offers aerospace coatings, automotive refinishing coatings, protective and marine coatings, and traffic solutions comprising paints, thermoplastics, raised pavement markers, and other technologies for pavement marking. The Industrial Coatings segment provides automotive OEM coatings, industrial coatings, and packaging coatings, as well as specialty products, such as optical monomers and coatings, low-friction coatings, and other specialty products. The company delivers its products to company-owned stores, home centers and other consumer retail outlets, paint dealers, concessionaires and independent distributors, company-owned distribution networks, and directly to manufacturing companies and retail customers. PPG Industries, Inc. was incorporated in 1883 and is headquartered in Pittsburgh, Pennsylvania.
PPG Industries, Inc. (PPG) reported trailing twelve months revenue of $16.12B as of March 2026, a 5.9% increase year-over-year. Quarterly revenue reached $3.93B, reflecting continued top-line momentum.
PPG Industries, Inc. generated $1.58B in TTM net income, with quarterly EBITDA of $768.00M. The operating margin contracted from 16.5% to 16.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (16.2%) and net margin (9.7%) indicates moderate non-operating costs. Net margin has narrowed from 10.1% a year ago, reflecting increased costs or interest expense.
PPG trades at a P/E of 14.7x (below the broader market average) and a P/S of 1.4x. The price-to-book ratio of 2.9x reflects a moderate premium to book value.
The company reported negative free cash flow of $-163.00M, indicating cash consumption over the period. The balance sheet shows $22.15B in total assets with $6.41B in long-term debt against $8.10B in stockholders equity for a debt-to-equity ratio of 0.8. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 10.5%. The business may lack pricing power or face rising costs.'
ROE averages 18.5% but has fluctuated — the competitive advantage may be cyclical or emerging.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF consistently trails net income (avg 0.5x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 0.8 — conservative capital structure with low financial risk.
TTM revenue has contracted 21.0% — significant decline indicating deteriorating demand.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares decreased 4.6% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation