financial statements

The full income statement, balance sheet, and cash-flow statement for Sherwin-Williams Company (The) (SHW), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	23.6B YoY+2.1%	23.1B YoY+0.2%	23.1B YoY+4.1%	22.1B YoY+11.1%	19.9B YoY+8.6%
	11.5B YoY+2.9%	11.2B YoY+4.1%	10.8B YoY+15.4%	9.33B YoY+9.2%	8.54B YoY-1.6%
Cost of revenue	12.1B YoY+1.3%	11.9B YoY-3.2%	12.3B YoY-4.1%	12.8B YoY+12.5%	11.4B YoY+17.8%
Selling, general & administrative	7.70B YoY+3.7%	7.42B YoY+5.0%	7.07B YoY+11.6%	6.33B YoY+7.6%	5.88B YoY+7.4%
General & administrative	—	—	634M YoY+46.4%	433M YoY-13.4%	500M YoY-2.7%
Restructuring	111M	—	15.3M YoY-68.0%	47.8M	—
Amortization of intangibles	337M YoY+3.1%	327M YoY-1.1%	330M YoY+4.1%	317M YoY+2.5%	310M YoY-1.2%
Provision for credit losses	49.3M YoY-29.1%	69.5M YoY+2.4%	67.9M YoY+4.0%	65.3M YoY+93.2%	33.8M YoY-40.5%
Operating income	—	—	4.16B YoY+22.5%	3.40B YoY+10.2%	3.08B YoY-8.6%
Interest expense	465M YoY+11.9%	416M YoY-0.4%	418M YoY+6.8%	391M YoY+16.8%	335M YoY-1.7%
Interest & investment income	—	—	25.2M YoY+215.0%	8.00M YoY+63.3%	4.90M YoY+36.1%
Other non-operating income	-20.9M YoY-146.8%	44.7M YoY+168.2%	-65.5M YoY-39.4%	-47.0M YoY-341.0%	19.5M YoY+467.9%
Pre-tax income	3.34B YoY-3.3%	3.45B YoY+11.0%	3.11B YoY+20.9%	2.57B YoY+14.4%	2.25B YoY-10.7%
Income tax	770M YoY-0.1%	770M YoY+6.8%	721M YoY+30.4%	553M YoY+43.9%	384M YoY-21.4%
Net income	2.57B YoY-4.2%	2.68B YoY+12.2%	2.39B YoY+18.3%	2.02B YoY+8.4%	1.86B YoY-8.2%
	$10.26 YoY-2.7%	$10.55 YoY+14.1%	$9.25 YoY+19.8%	$7.72 YoY+10.6%	$6.98 YoY-5.2%
EPS (basic)	$10.37 YoY-2.9%	$10.68 YoY+14.2%	$9.35 YoY+19.4%	$7.83 YoY+10.3%	$7.10 YoY-5.1%
Weighted-avg shares (basic)	248M YoY-1.4%	251M YoY-1.7%	255M YoY-1.0%	258M YoY-1.7%	263M YoY-3.2%
Weighted-avg shares (diluted)	250M YoY-1.5%	254M YoY-1.6%	258M YoY-1.3%	262M YoY-2.0%	267M YoY-3.2%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	6.01B YoY+11.2%	5.40B YoY-2.0%	5.51B YoY-6.7%	5.91B YoY+16.9%	5.05B YoY+10.1%
Cash & equivalents	207M YoY-1.5%	210M YoY-24.0%	277M YoY+39.2%	199M YoY+20.0%	166M YoY-26.9%
Accounts receivable	2.79B YoY+16.8%	2.39B YoY-3.2%	2.47B YoY-3.7%	2.56B YoY+9.0%	2.35B YoY+13.2%
Inventory	2.32B YoY+1.3%	2.29B YoY-1.8%	2.33B YoY-11.3%	2.63B YoY+36.3%	1.93B YoY+6.8%
Other current assets	691M YoY+34.5%	514M YoY+17.1%	438M YoY-15.5%	519M YoY-14.7%	608M YoY+26.1%
	25.9B YoY+9.6%	23.6B YoY+3.0%	23.0B YoY+1.6%	22.6B YoY+9.3%	20.7B YoY+1.3%
Property, plant & equipment	4.14B YoY+17.1%	3.53B YoY+24.5%	2.84B YoY+28.5%	2.21B YoY+18.2%	1.87B YoY+1.8%
Operating lease right-of-use	2.00B YoY+2.1%	1.95B YoY+3.5%	1.89B YoY+1.1%	1.87B YoY+2.5%	1.82B YoY+3.4%
Goodwill	8.04B YoY+6.0%	7.58B YoY-0.6%	7.63B YoY+0.6%	7.58B YoY+6.3%	7.13B YoY+1.2%
Intangible assets	3.97B YoY+12.3%	3.53B YoY-8.9%	3.88B YoY-3.0%	4.00B YoY+0.0%	4.00B YoY-10.5%
Deferred tax assets	0.00	0.00	0.00	0.00	0.00
Other non-current assets	1.76B YoY+7.8%	1.63B YoY+34.7%	1.21B YoY+17.9%	1.03B YoY+30.2%	789M YoY+13.6%
	6.92B YoY+1.6%	6.81B YoY+2.7%	6.63B YoY+11.2%	5.96B YoY+4.2%	5.72B YoY+24.5%
Accounts payable	2.35B YoY+4.5%	2.25B YoY-2.7%	2.31B YoY-5.0%	2.44B YoY+1.4%	2.40B YoY+13.5%
Deferred revenue	427M YoY+10.6%	386M YoY+5.6%	366M YoY+24.9%	293M YoY+12.7%	260M YoY-2.4%
Short-term & current debt	350M YoY-66.6%	1.05B YoY-4.5%	1.10B YoY+183033.3%	600K YoY-99.8%	261M YoY+938.2%
Current lease liability	480M YoY+2.8%	467M YoY+3.9%	449M YoY+5.6%	425M YoY+3.8%	410M YoY+5.8%
Other current liabilities	1.51B YoY+10.9%	1.36B YoY+2.3%	1.33B YoY+16.8%	1.14B YoY+13.2%	1.01B YoY-10.8%
Long-term debt	9.32B YoY+14.0%	8.18B YoY-2.4%	8.38B YoY-12.6%	9.59B YoY+11.6%	8.59B YoY+3.9%
Deferred revenue (non-current)	10.3M YoY+543.8%	1.60M YoY-57.9%	3.80M YoY-46.5%	7.10M YoY-22.8%	9.20M YoY+12.2%
Non-current lease liability	1.59B YoY+2.1%	1.56B YoY+3.2%	1.51B YoY-0.2%	1.51B YoY+2.9%	1.47B YoY+2.6%
Deferred tax liabilities	765M YoY+26.0%	608M YoY-11.1%	683M YoY+0.2%	682M YoY-11.3%	768M YoY-9.2%
Other non-current liabilities	2.58B YoY+11.5%	2.31B YoY+21.0%	1.91B YoY+18.8%	1.61B YoY+13.1%	1.42B YoY+3.4%
	4.60B YoY+13.5%	4.05B YoY+9.0%	3.72B YoY+19.8%	3.10B YoY+27.3%	2.44B YoY-32.5%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	83.1M YoY-10.2%	92.5M YoY+0.8%	91.8M YoY+0.7%	91.2M YoY+0.4%	90.8M YoY+1.0%
Additional paid-in capital	4.20B YoY-8.1%	4.58B YoY+9.1%	4.19B YoY+5.8%	3.96B YoY+4.5%	3.79B YoY+8.6%
Retained earnings	1.03B YoY-85.8%	7.25B YoY+37.0%	5.29B YoY+50.1%	3.52B YoY+66.1%	2.12B YoY+151.3%
Treasury stock	84.3M YoY-98.8%	6.99B YoY+33.5%	5.23B YoY+38.6%	3.78B YoY+31.6%	2.87B YoY+2874.0%
Accumulated other comprehensive income	-634M YoY+27.5%	-875M YoY-40.2%	-624M YoY+10.9%	-701M YoY-0.3%	-698M YoY+2.8%
Non-controlling interest	14.6M YoY+0.0%	14.6M YoY+0.0%	14.6M YoY+0.0%	14.6M YoY+0.0%	14.6M YoY+0.0%
Total equity incl. non-controlling	3.75B YoY+0.0%	3.75B YoY+0.0%	3.75B YoY+0.0%	3.75B YoY+0.0%	3.75B YoY+0.0%
Total liabilities & equity	25.9B YoY+9.6%	23.6B YoY+3.0%	23.0B YoY+1.6%	22.6B YoY+9.3%	20.7B YoY+1.3%
Common shares issued	248M	—	—	—	—
Common shares outstanding	248M YoY-1.4%	251M YoY-1.3%	255M YoY-1.7%	259M YoY-0.8%	261M YoY-2.8%
Shares outstanding (cover)	248M YoY-1.6%	252M YoY-1.6%	256M YoY-1.2%	259M YoY-1.2%	262M YoY+188.7%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.45B YoY+9.5%	3.15B YoY-10.5%	3.52B YoY+83.4%	1.92B YoY-14.5%	2.24B YoY-34.1%
Depreciation & amortization	340M YoY+14.4%	297M YoY+1.7%	292M YoY+10.7%	264M YoY+0.3%	263M YoY-1.8%
Share-based compensation	124M YoY-10.6%	138M YoY+19.2%	116M YoY+16.2%	99.7M YoY+2.0%	97.7M YoY+1.9%
Deferred income taxes	153M YoY+304.5%	-74.9M YoY+15.7%	-88.9M YoY+38.6%	-145M YoY-80.3%	-80.3M YoY+44.7%
Change in receivables	163M YoY+1421.5%	10.7M YoY+112.5%	-85.6M YoY-142.8%	200M YoY-30.4%	288M YoY+2894.2%
Change in inventory	-133M YoY-502.7%	32.9M YoY+110.2%	-323M YoY-148.5%	667M YoY+192.3%	228M YoY+370.3%
Change in payables	-37.8M YoY-273.4%	21.8M YoY+109.0%	-241M YoY-617.4%	46.6M YoY-86.5%	346M YoY+52.3%
Other operating activities	8.50M YoY+106.1%	-140M YoY+44.3%	-252M YoY-574.8%	-37.3M YoY-24.7%	-29.9M YoY-122.3%
	-2.07B YoY-72.7%	-1.20B YoY-15.1%	-1.04B YoY+35.4%	-1.61B YoY-237.4%	-476M YoY-47.8%
Capital expenditure	798M YoY-25.5%	1.07B YoY+20.4%	888M YoY+37.8%	645M YoY+73.3%	372M YoY+22.4%
Acquisitions	1.21B YoY+1435.2%	78.9M YoY-70.2%	265M YoY-73.6%	1.00B YoY+375.6%	211M
Other investing activities	68.1M YoY+15.4%	59.0M YoY-1.7%	60.0M YoY+982.4%	-6.80M YoY-122.1%	30.8M YoY-61.2%
	-1.38B YoY+31.7%	-2.02B YoY+16.8%	-2.42B YoY-758.6%	-282M YoY+84.6%	-1.83B YoY+39.3%
Long-term debt issued	1.50B YoY+76.6%	849M	0.00 YoY-100.0%	1000M YoY+0.5%	995M YoY-0.4%
Long-term debt repaid	1.05B YoY-4.5%	1.10B YoY+706.5%	136M YoY-47.6%	260M YoY-38.4%	423M YoY-64.9%
Net short-term debt	537M YoY+86.2%	289M YoY+147.8%	-604M YoY-381.7%	214M YoY-71.9%	764M
Dividends paid	790M YoY+9.2%	723M YoY+16.0%	624M YoY+0.8%	619M YoY+5.3%	587M YoY+20.3%
Other financing activities	-86.8M YoY-24.4%	-69.8M YoY-49.5%	-46.7M YoY-96.2%	-23.8M YoY-1.7%	-23.4M YoY+23.5%
FX effect on cash	-9.90M YoY-59.7%	-6.20M YoY-131.0%	20.0M YoY+525.0%	3.20M YoY-34.7%	4.90M YoY+476.9%
Net change in cash	-3.20M YoY+95.2%	-66.4M YoY-185.1%	78.0M YoY+135.6%	33.1M YoY+154.4%	-60.9M YoY-194.0%
Interest paid	453M YoY+11.3%	407M YoY-2.3%	417M YoY+12.2%	371M YoY+9.5%	339M YoY-0.6%
Income taxes paid	593M YoY-24.0%	780M YoY-4.5%	817M YoY+40.8%	580M YoY+24.4%	466M YoY+6.7%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	80.3B YoY-6.2%	85.6B YoY+7.2%	79.8B YoY+29.8%	61.5B YoY-33.4%	92.3B YoY+315.0%
P/E	31.3× YoY-2.1%	31.9× YoY-3.3%	33.0× YoY+4.0%	31.7× YoY-35.9%	49.5× YoY+352.0%
P/S	3.4× YoY-8.1%	3.7× YoY+6.9%	3.5× YoY+22.2%	2.8× YoY-38.7%	4.6× YoY+282.1%
P/B	17.5× YoY-17.3%	21.1× YoY+0.1%	21.1× YoY-10.8%	23.7× YoY-37.5%	37.9× YoY+514.8%
P/FCF	30.3× YoY-26.4%	41.1× YoY+25.7%	32.7× YoY-50.1%	65.6× YoY+32.9%	49.3× YoY+588.1%
Earnings yield	3.2% YoY+2.1%	3.1% YoY+3.4%	3.0% YoY-3.8%	3.2% YoY+56.0%	2.0% YoY-77.9%
FCF yield	3.3% YoY+35.8%	2.4% YoY-20.4%	3.1% YoY+100.5%	1.5% YoY-24.8%	2.0% YoY-85.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: SHW's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SHW filings on SEC EDGAR → Not investment advice.

SHW▼ financial statements

About this data

financial statements