PPG
PPG Industries Inc.Stock · MaterialsS&P 500 Equal Weight 0.2% · S&P 500 0.04% · Russell 1000 0.04% · US Stock Market 0.04% · Russell 3000 0.04% · MSCI World 0.03% · MSCI ACWI 0.03%$104.52-0.88%
as of market close, Sep 18, 2026
☾ AH — —
PPG financial statements
The full income statement, balance sheet, and cash-flow statement for PPG Industries Inc. (PPG), 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.
Shares outstanding (point-in-time)
2024-06 233.3M2024-09 232.0M2024-12 227.0M2025-03 227.0M2025-06 225.7M2025-09 224.4M2025-12 223.5M2026-03 222.9M2026-06 222.3M-4.7% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | 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 | 15.9B+0.2% | 15.8B-2.4% | 16.2B+4.0% | 15.6B-7.1% | 16.8B+21.5% | |
| Cost of revenue | 9.32B+0.7% | 9.25B-4.4% | 9.68B-3.0% | 9.97B-3.0% | 10.3B+32.3% | |
| Research & development | 446M-0.2% | 447M+0.2% | 446M-2.4% | 457M-1.3% | 463M+15.5% | |
| Selling, general & administrative | 3.44B+1.4% | 3.39B-0.3% | 3.40B+12.0% | 3.04B-19.7% | 3.78B+11.5% | |
| Restructuring | 6.00M-97.4% | 233M+11750.0% | -2.00M-106.1% | 33.0M+6.5% | 31.0M-82.2% | |
| Amortization of intangibles | 125M-5.3% | 132M-14.3% | 154M+6.2% | 145M-15.7% | 172M+24.6% | |
| Provision for credit losses | 15.0M-11.8% | 17.0M+13.3% | 15.0M-71.2% | 52.0M+173.7% | 19.0M+35.7% | |
| Operating income | — | — | 2.67B+31.0% | 2.04B-5.9% | 2.17B+2.9% | |
| Interest expense | 241M+0.0% | 241M-2.4% | 247M+47.9% | 167M+38.0% | 121M-12.3% | |
| Interest & investment income | 153M-13.6% | 177M+26.4% | 140M+159.3% | 54.0M+107.7% | 26.0M+13.0% | |
| Net interest income | — | — | -107M+5.3% | -113M-18.9% | -95.0M+17.4% | |
| Other non-operating income | -6.00M-175.0% | 8.00M+110.0% | -80.0M-221.2% | 66.0M-41.1% | 112M+411.1% | |
| Equity-method income | 19.0M-5.0% | 20.0M-4.8% | 21.0M-16.0% | 25.0M+66.7% | 15.0M+87.5% | |
| Pre-tax income | 2.04B+10.4% | 1.85B+9.6% | 1.69B+24.7% | 1.35B-25.3% | 1.81B+33.3% | |
| Income tax | 458M-3.6% | 475M+11.0% | 428M+33.8% | 320M-14.4% | 374M+28.5% | |
| 1.58B+41.2% | 1.12B-12.1% | 1.27B+23.8% | 1.03B-28.7% | 1.44B+35.9% | ||
| Income from continuing operations | 1.57B+16.9% | 1.34B+9.9% | 1.22B+21.4% | 1.01B-29.1% | 1.42B+34.5% | |
| Discontinued operations | 5.00M+102.2% | -228M-585.1% | 47.0M+147.4% | 19.0M+0.0% | 19.0M+533.3% | |
| Net income to non-controlling interest | 16.0M-51.5% | 33.0M-15.4% | 39.0M+39.3% | 28.0M+33.3% | 21.0M+40.0% | |
| $6.94+46.1% | $4.75-11.2% | $5.35+23.8% | $4.32-28.1% | $6.01+35.1% | ||
| EPS (basic) | $6.96+45.9% | $4.77-11.3% | $5.38+24.0% | $4.34-28.4% | $6.06+35.6% | |
| Weighted-avg shares (basic) | 226M-3.2% | 234M-0.9% | 236M-0.0% | 236M-0.6% | 238M+0.3% | |
| Weighted-avg shares (diluted) | 227M-3.3% | 235M-1.0% | 237M-0.0% | 237M-0.9% | 239M+0.6% | |
| Dividends per share | $2.78+4.5% | $2.66+4.7% | $2.54+5.0% | $2.42+7.1% | $2.26+7.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 7.96B+21.4% | 6.56B-11.8% | 7.43B+3.6% | 7.17B+5.9% | 6.77B-0.4% | ||
| Cash & equivalents | 2.16B+70.3% | 1.27B-14.9% | 1.49B+35.9% | 1.10B+9.4% | 1.00B-45.0% | |
| Short-term investments | 56.0M-36.4% | 88.0M+17.3% | 75.0M+36.4% | 55.0M-17.9% | 67.0M-30.2% | |
| Accounts receivable | 2.78B+12.4% | 2.48B-5.5% | 2.62B-7.2% | 2.82B+5.1% | 2.69B+11.4% | |
| Inventory | 2.00B+8.1% | 1.85B-4.6% | 1.93B-14.9% | 2.27B+4.7% | 2.17B+25.1% | |
| Other current assets | 408M+10.9% | 368M-60.1% | 922M+107.7% | 444M+17.2% | 379M-8.7% | |
| 22.1B+13.7% | 19.4B-10.2% | 21.6B+4.4% | 20.7B-2.8% | 21.4B+9.2% | ||
| Property, plant & equipment | 4.00B+15.6% | 3.46B+0.4% | 3.45B+3.7% | 3.33B-3.3% | 3.44B+10.1% | |
| Operating lease right-of-use | 604M+1.2% | 597M+4.6% | 571M-31.1% | 829M-7.0% | 891M+5.2% | |
| Goodwill | 6.15B+8.1% | 5.69B-7.0% | 6.12B+2.0% | 5.99B-4.1% | 6.25B+22.5% | |
| Intangible assets | 1.97B+2.5% | 1.92B-15.0% | 2.26B-6.3% | 2.41B-13.3% | 2.78B+18.4% | |
| Long-term investments | 332M+0.3% | 331M+30.3% | 254M+4.1% | 244M-10.9% | 274M+2.6% | |
| Deferred tax assets | 481M+58.7% | 303M+11.4% | 272M+186.3% | 95.0M-51.8% | 197M-48.0% | |
| Other non-current assets | 597M+4.9% | 569M-56.0% | 1.29B+121.8% | 583M-21.4% | 742M+8.3% | |
| 4.90B-2.3% | 5.01B-0.8% | 5.05B+7.1% | 4.72B-0.9% | 4.77B-1.3% | ||
| Accounts payable | 2.21B+2.4% | 2.16B-11.4% | 2.44B-3.9% | 2.54B-7.2% | 2.73B+21.0% | |
| Accrued liabilities | 3.96B+6.1% | 3.73B-10.3% | 4.16B+1.8% | 4.09B-6.9% | 4.39B+15.8% | |
| Short-term & current debt | 702M-24.7% | 932M+208.6% | 302M-0.3% | 303M+10000.0% | 3.00M-98.3% | |
| Current lease liability | 138M+9.5% | 126M-1.6% | 128M-30.1% | 183M-4.7% | 192M+6.7% | |
| Other current liabilities | 0.00-100.0% | 90.0M-76.0% | 375M | — | — | |
| Finance lease liability (current) | 2.00M+0.0% | 2.00M+0.0% | 2.00M-33.3% | 3.00M+0.0% | 3.00M+0.0% | |
| 14.0B+12.3% | 12.5B-8.5% | 13.6B-2.9% | 14.0B-6.1% | 14.9B+8.7% | ||
| Long-term debt | 6.60B+35.4% | 4.88B-15.2% | 5.75B-11.6% | 6.50B-1.0% | 6.57B+27.1% | |
| Non-current lease liability | 450M-0.9% | 454M+8.9% | 417M-34.4% | 636M-8.2% | 693M+2.4% | |
| Operating lease liability (total) | 588M+1.4% | 580M-28.9% | 816M-0.4% | 819M-7.5% | 885M+3.3% | |
| Finance lease liability (total) | 7.00M+0.0% | 7.00M-12.5% | 8.00M-20.0% | 10.0M+0.0% | 10.0M-16.7% | |
| Finance lease liability | 5.00M+0.0% | 5.00M-16.7% | 6.00M-14.3% | 7.00M+0.0% | 7.00M-22.2% | |
| Deferred tax liabilities | 457M+12.8% | 405M-19.0% | 500M-0.2% | 501M-22.4% | 646M+48.5% | |
| Other non-current liabilities | 650M-13.8% | 754M-13.0% | 867M+37.2% | 632M-16.5% | 757M-20.2% | |
| 7.94B+17.0% | 6.79B-13.4% | 7.83B+18.8% | 6.59B+4.9% | 6.29B+10.5% | ||
| Common stock | 969M+0.0% | 969M+0.0% | 969M+0.0% | 969M+0.0% | 969M+0.0% | |
| Additional paid-in capital | 1.32B+4.2% | 1.27B+5.8% | 1.20B+6.4% | 1.13B+4.5% | 1.08B+7.2% | |
| Retained earnings | 22.9B+4.3% | 22.0B+2.3% | 21.5B+3.2% | 20.8B+2.2% | 20.4B+4.6% | |
| Treasury stock | 15.1B+5.4% | 14.3B+5.5% | 13.6B+0.6% | 13.5B+1.0% | 13.4B+1.7% | |
| Accumulated other comprehensive income | -2.18B+30.0% | -3.11B-38.8% | -2.24B+20.3% | -2.81B-2.2% | -2.75B-5.8% | |
| Non-controlling interest | 156M-11.9% | 177M-7.3% | 191M+63.2% | 117M-6.4% | 125M-0.8% | |
| Total equity incl. non-controlling | 8.10B+16.3% | 6.96B-13.2% | 8.02B+19.6% | 6.71B+4.6% | 6.41B+10.2% | |
| Total liabilities & equity | 22.1B+13.7% | 19.4B-10.2% | 21.6B+4.4% | 20.7B-2.8% | 21.4B+9.2% | |
| Common shares issued | 223M-2.8% | 230M-2.2% | 235M+0.1% | 235M | — | |
| Common shares outstanding | 223M-2.8% | 230M-2.2% | 235M+0.1% | 235M-0.4% | 236M-0.3% | |
| Shares outstanding (cover) | 223M-1.5% | 227M-3.5% | 235M+0.0% | 235M-0.3% | 236M-0.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.94B+36.7% | 1.42B-41.1% | 2.41B+150.4% | 963M-38.3% | 1.56B-26.7% | ||
| Depreciation & amortization | 528M+7.3% | 492M-4.3% | 514M+2.4% | 502M-10.5% | 561M+10.2% | |
| Intangible amortization | 125M-5.3% | 132M-14.3% | 154M+6.2% | 145M-15.7% | 172M+24.6% | |
| Share-based compensation | 46.0M+9.5% | 42.0M-25.0% | 56.0M+64.7% | 34.0M-40.4% | 57.0M+29.5% | |
| Deferred income taxes | -27.0M+72.2% | -97.0M+48.1% | -187M-23.8% | -151M-531.4% | 35.0M+174.5% | |
| Change in inventory | 35.0M+29.6% | 27.0M+118.6% | -145M-181.9% | 177M-36.6% | 279M+351.4% | |
| -700M-754.2% | 107M+119.2% | -556M-20.6% | -461M+80.8% | -2.40B-66.1% | ||
| Capital expenditure | 778M+7.9% | 721M+39.7% | 516M+6.2% | 486M+31.0% | 371M+22.0% | |
| Free cash flow | 1.16B+66.4% | 699M-63.1% | 1.90B+297.3% | 477M-59.9% | 1.19B-34.8% | |
| Acquisitions | 1.00M-96.8% | 31.0M-71.6% | 109M-4.4% | 114M-94.7% | 2.14B+82.8% | |
| Other investing activities | -36.0M-28.6% | -28.0M+56.3% | -64.0M-20.8% | -53.0M+7.0% | -57.0M-119.2% | |
| -545M+61.8% | -1.43B+8.1% | -1.55B-279.0% | -409M-539.8% | 93.0M+257.6% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 790M+5.1% | 752M+774.4% | 86.0M-54.7% | 190M-9.5% | 210M | |
| Dividends paid | 628M+1.0% | 622M+4.0% | 598M+4.9% | 570M+6.3% | 536M+8.1% | |
| Other financing activities | -30.0M-20.0% | -25.0M-56.3% | -16.0M+38.5% | -26.0M-316.7% | 12.0M+200.0% | |
| FX effect on cash | 197M+160.6% | -325M-395.5% | 110M+10900.0% | 1.00M+101.4% | -72.0M-1300.0% | |
| Net change in cash | 893M+500.4% | -223M-154.4% | 410M+350.5% | 91.0M+111.1% | -821M-234.6% | |
| Interest paid | 210M-15.0% | 247M+16.0% | 213M+36.5% | 156M+11.4% | 140M-8.5% | |
| Income taxes paid | 438M-32.9% | 653M+33.8% | 488M+11.9% | 436M-11.2% | 491M+33.8% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 22.9B-15.5% | 27.1B-23.1% | 35.3B+19.3% | 29.6B-27.4% | 40.7B+19.2% | |
| P/E | 14.5×-40.2% | 24.3×-12.4% | 27.7×+0.8% | 27.5×-2.7% | 28.3×-12.3% | |
| P/S | 1.4×-15.7% | 1.7×-23.9% | 2.2×+34.3% | 1.7×-30.9% | 2.4×-1.9% | |
| P/B | 2.9×-27.8% | 4.0×-12.2% | 4.5×-7.1% | 4.9×-24.3% | 6.5×+7.9% | |
| P/FCF | 19.7×-49.2% | 38.8×+76.1% | 22.0×-76.7% | 94.4×+176.3% | 34.2×+82.7% | |
| Earnings yield | 6.9%+67.2% | 4.1%+14.1% | 3.6%-0.7% | 3.6%+2.8% | 3.5%+14.0% | |
| FCF yield | 5.1%+97.0% | 2.6%-43.2% | 4.5%+328.7% | 1.1%-63.8% | 2.9%-45.3% | |
| Dividend yield | 2.7%+21.8% | 2.2%+31.1% | 1.7%-11.8% | 1.9%+46.8% | 1.3%-10.0% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: PPG’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 PPG filings on SEC EDGAR → Not investment advice.