The Sherwin-Williams CompanySHW
NYSE•Basic Materials•Specialty Chemicals
The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paint, coatings, and related products to professional, industrial, commercial and retail customers. The company operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group. The Paint Stores Group segment offers architectural paint and coatings; protective and marine products; and OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners under the Sherwin-Williams brand. 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, including home centers and hardware stores, and dedicated dealers 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. This segment serves retailers, dealers, jobbers, licensees, and other third-party distributors. The company operates in North America, South America, the Caribbean, Europe, Asia, and Australia. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.
Sherwin-Williams Company (The) (SHW) reported trailing twelve months revenue of $23.94B as of March 2026, a 3.9% increase year-over-year. Quarterly revenue reached $5.67B, reflecting continued top-line momentum.
Sherwin-Williams Company (The) generated $2.60B in TTM net income, with quarterly EBITDA of $997.70M. The operating margin expanded from 14.2% to 14.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (14.3%) and net margin (9.4%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 9.5% a year ago, reflecting increased costs or interest expense.
SHW trades at a P/E of 30.2x (a premium multiple) and a P/S of 3.3x. The price-to-book ratio of 17.7x indicates a significant premium over book value.
The company generated $800,000 in free cash flow over the trailing twelve months, a 100.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $26.38B in total assets with $9.32B in long-term debt against $4.43B in stockholders equity for a debt-to-equity ratio of 2.1, a relatively leveraged position. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~16.1%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 61.3% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue shows resilience with 6 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~16.0% — no sign of cost or pricing stress.
FCF covers net income by 0.9x on average — earnings are well-supported by cash generation.
D/E ratio of 2.1 is elevated and rising. Monitor for further debt accumulation.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.4% — 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