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PPG IndustriesPPG

Legal name
PPG Industries Inc.
Sector
Other
Industry
Paints, Varnishes, Lacquers, Enamels & Allied Prods
Exchange
NYSE

Stock Price $PPG

Latest filings

You are here#14 of 25 in Materials by market cap

Filing record · 2016–202610-K1210-Q338-K141

PPG filed 12 annual reports (10-K), 33 quarterly reports (10-Q) and 141 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Material agreement8-K · Sep ’19Sep ’19
  3. Leadership change8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $15.88B
YoY changeLargest recent move+21.5%in FY21Latest +0.2%

1 older move runs past ±25% (largest +29.7%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All PPG Financial Metrics61 metrics

Income Statement15

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

PPG Industries Financial Overview 2021–2025

Updated Nov 4, 2026

PPG's sales fell by $927 milliona between FY2021 and FY2025, yet diluted EPS from continuing operations rose 17%. That is the story: a smaller PPG that earns more per share. Net sales slid from $16.8 billion in FY2021 to $15.9 billion in FY2025, while diluted EPS climbed from $5.93 to $6.92. Divestitures shrank the top line, and cost discipline and pricing did the rest.

The path was bumpy. Pretax income dropped to $1,381 millionb in FY2022 as raw material inflation and $245 million of Russia-related impairment charges hit, then rebounded to $2,045 million in FY2025. Operating cash flow jumped 39.2% to $1,936 million in FY2025. The company returned $790 million through buybacks and $628 million through dividends that year. One caution: adjusted diluted EPS slipped to $7.58 from $7.87 in FY2024, so part of the reported gain came from lower restructuring and impairment charges rather than pure operating improvement.

At the close of FY2025, the stock traded at $102.46c, or 14.8x earnings, for a market cap of $22.9 billion. The balance sheet leaves room: debt to total capitalization was 47% against a 60% covenant ceiling, and cash and short-term investments were about $2.2 billion.

Recent Developments (Q2 and Q3 2026)

Momentum improved through Q3 2026. Net sales rose 7% to $4,353 milliond, with 5% organic growth, after Q2 2026 sales of $4,495 million grew 7% but pretax income slipped to $569 million from $598 million. Price recovery closed the gap: increases covered about 90% of cost inflation in Q2 and fully offset it in Q3. Reported EPS from continuing operations hit a record $2.12, up 8%. Performance Coatings EBITDA margin expanded 220 basis points to 23.9%, while Industrial Coatings EBITDA fell 11%. Management narrowed 2026 adjusted EPS guidance to $7.90–$8.10.

Bull case: pricing now offsets inflation and net debt fell to $5.2 billione. Bear case: at 17.1x earnings as of the Q3 2026 filing date (October 27, 2026), the stock is pricier than before, and a Brazilian Di Gregório award against PPG could exceed $700 million, though PPG calls the loss risk remote.

What to watch: Delaware Chancery ruling on Westlake expected in Q4 2026 or early 2027; Industrial Coatings margin recovery

03—Filings

Recent SEC Filings

  1. 8-KPPG Industries 8-K Report, Financial Results (Oct 27, 2026)PPG Industries, Inc. filed an 8-K furnishing its earnings press release for the third quarter of 2026, dated October 27, 2026, under Items 2.02 and 9.01. The company reported net sales of $4,353 million, up 7% year over year, with organic sales up 5%. Reported EPS from continuing operations was $2.12, up 8%, and adjusted EPS was $2.25, up 6%. The release describes both as record third-quarter EPS, and it notes that adjusted EBITDA margin was 18.2%, unchanged from the prior year. Segment results were mixed. Global Architectural Coatings and Performance Coatings both expanded segment EBITDA margins, to 24.0% (up 300 basis points) and 23.9% (up 220 basis points), respectively. Industrial Coatings was the weak spot, with segment EBITDA down 11% and margin down 260 basis points to 14.4%, which management attributed to cost of goods sold inflation and the timing of index-based pricing. Cash from operating activities was about $1.2 billion year to date, and share repurchases totaled about $150 million in the quarter and $320 million year to date. Net debt was $5.2 billion, down about $200 million from the prior year. Management narrowed full-year 2026 adjusted EPS guidance to $7.90 to $8.10 and raised the midpoint. It expects low single-digit percentage organic sales growth in the fourth quarter, led by aerospace, Latin America architectural coatings and packaging coatings, along with flat to up 100 basis points of adjusted EBITDA margin expansion year over year. The filing states that the press release is furnished, not filed, and that a conference call will be held October 28, 2026 at 8:00 a.m. ET.
  2. 8-KPPG Industries 8-K Report, Financial Results (Jul 28, 2026)PPG Industries, Inc. (NYSE: PPG) reported second quarter 2026 results in an earnings press release furnished as Exhibit 99 to this Item 2.02 Form 8-K, filed July 28, 2026. Net sales were $4,495 million, up 7% from $4,195 million a year earlier, with organic sales up 4% and growth in 8 of 9 businesses. Sales volumes rose 2% and selling prices rose 2%. Reported net income from continuing operations was $439 million, or $1.96 per diluted share, versus $450 million and $1.98 a year earlier. Adjusted EPS was $2.23, compared with $2.22 in the prior-year quarter, after excluding items such as acquisition-related amortization, restructuring costs, legacy environmental remediation charges and a legal settlement. Segment results were mixed. Global Architectural Coatings segment EBITDA rose 14% to $213 million, with EBITDA margin up 100 basis points, helped by Latin America. Performance Coatings segment EBITDA fell 5% to $368 million, with margin down 300 basis points as automotive refinish coatings volumes declined, while aerospace and protective and marine coatings grew. Industrial Coatings sales volumes rose 5%, led by packaging coatings, but segment EBITDA margin declined 70 basis points on cost inflation. Management reaffirmed full-year 2026 adjusted EPS guidance of $7.70 to $8.10 and guided to third-quarter organic sales growth of a low single-digit to mid-single-digit percentage. At quarter end, net debt was $5.3 billion, down $415 million from a year earlier, and year-to-date share repurchases totaled $175 million.
  3. 8-KPPG Industries 8-K Report, Financial Results (Apr 28, 2026)PPG Industries, Inc. furnished its earnings press release for the first quarter of 2026 under Item 2.02 of this Form 8-K. Net sales were $3.93 billion, up 7% year over year, with organic sales up 1% driven by higher selling prices. Reported diluted EPS from continuing operations was $1.70 and adjusted EPS was $1.83, an increase of 6% year over year. Net income attributable to PPG was $382 million, compared with $373 million in the prior-year quarter. By segment, Global Architectural Coatings net sales rose 13% to $965 million, with segment EBITDA up 28% and segment EBITDA margin improving 230 basis points, driven by Latin America. Performance Coatings net sales rose 5% to $1.33 billion, with organic sales up 1%, aerospace growing at a double-digit percentage rate, and automotive refinish declining at a double-digit percentage rate. Industrial Coatings net sales rose 4% to $1.63 billion, but organic sales were flat and segment EBITDA fell 7% on regional mix and lower index-based selling prices. PPG reaffirmed full-year 2026 adjusted EPS guidance of $7.70 to $8.10 and expects second-quarter organic sales and adjusted EPS to be flat to up a low single-digit percentage. Management noted recent raw material, energy, logistics and packaging cost increases and announced price adjustments globally. Cash and short-term investments totaled $1.6 billion, net debt was $5.5 billion, and about $100 million of shares were repurchased in the quarter.
  4. 8-KPPG Industries 8-K Report, Executive Changes (Apr 28, 2026)PPG Industries, Inc. (NYSE: PPG) filed this Form 8-K on April 28, 2026 to announce a leadership change in its finance function. Its board has elected Jamie A. Beggs as Senior Vice President and Chief Financial Officer, effective July 6, 2026, succeeding Vincent J. Morales, who is retiring on the same date after a 41-year career with the company. Beggs has served as CFO of Avient Corporation since August 2020 and currently sits on the board of International Paper Company. She will report to Chairman and CEO Timothy M. Knavish and join PPG's executive and operating committees, with added executive leadership responsibilities for corporate development and information technology. The filing discloses Beggs's compensation package: an annual base salary of $800,000, a signing bonus of $350,000 subject to repayment if she resigns voluntarily before the first anniversary of her start date, a one-time restricted stock unit grant under the 2026 Omnibus Incentive Plan valued at $3.2 million vesting on the third anniversary of the grant date, a prorated 2026 target cash bonus of $800,000, and a 2026 equity grant with an aggregate value of $2.5 million. The 2026 equity grant comprises stock options, time-based and performance-based RSUs, and total shareholder return contingent shares, with a three-year performance period covering 2026 to 2028. She is also eligible for relocation benefits under the company's executive program. The filing also discloses related-party transactions with Avient Corporation. PPG purchased approximately $524,000 of products from Avient in 2025 and approximately $163,000 in the first fiscal quarter of 2026, and made no sales to Avient in either period. The company states these purchases were made in the ordinary course of business and were each less than one percent of the consolidated gross revenues of both companies for 2025 and the first quarter of 2026. PPG reported net sales of $15.9 billion in 2025, according to the accompanying press release.
  5. 8-KPPG Industries 8-K Report, Executive Changes (Apr 21, 2026)PPG Industries, Inc. filed an 8-K on April 21, 2026 covering two items: executive compensation and the results of its 2026 Annual Meeting of Shareholders held April 16, 2026. On April 15, 2026, the Human Capital Management and Compensation Committee approved performance-based Market Stock Unit (MSU) awards to certain executive officers, including K. Henrik Bergstrom and Kevin Braun, each with a target value of $1,500,000. Chairman and CEO Timothy Knavish and retiring Senior Vice President and CFO Vincent Morales did not receive MSU awards. The MSUs convert to a target number of units based on the 30-day average closing price before May 8, 2026, vest on May 8, 2029, and pay out based on absolute stock price performance over the three-year period, with a maximum payout of 200% and no payout if the stock declines by more than 25%. Payout also requires achieving at least the threshold for the Adjusted Earnings Per Diluted Share – Continuing Operations goal for fiscal 2028, and vesting requires continued employment. At the annual meeting, shareholders elected all 12 director nominees to serve until the 2027 annual meeting. Shareholders approved the advisory say-on-pay proposal, ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026, and approved the PPG Industries, Inc. 2026 Omnibus Incentive Plan. A shareholder proposal requiring an independent board chair was not approved, receiving 59,695,284 votes for and 126,745,338 against. As of the record date, 223,798,650 shares of common stock were outstanding. For investors, the filing's main forward-looking items are the structure of the new long-term incentive awards, which tie executive pay to stock price performance and adjusted EPS, and the leadership transition in the finance function as the CFO retires. The filing does not state any financial results or guidance.
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04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.