SHERWIN WILLIAMS COSHW
SHERWIN WILLIAMS CO Financial Overview 2021–2025
Updated Jul 10, 2026Sherwin-Williams generated a formidable $3.452 billion in net operating cash flow in FY2025, proving its pricing power can fully offset sluggish post-pandemic consumer paint volumes. The central thesis for investors is that the company’s sprawling retail footprint and structural cost discipline successfully translate modest top-line expansion into outsized cash generation and strategic market consolidation.
This pricing leverage is evident across a multi-year horizon. Revenue grew steadily from $19.94 billion in FY2021 to $23.574 billion in FY2025, despite raw material inflation and a choppy macroeconomic environment. Over this period, the company expanded its profitability, pushing gross margins from the low-40s up to a peak of 49.4% during Q2 2025. Management systematically deployed this incoming capital to fund geographic expansion, closing the $1.15 billion acquisition of Brazilian paints leader Suvinil in October 2025, while continuing to add 80 to 100 new stores annually across North America. At the close of FY2025, the market rewarded this operational consistency. The stock finished the year at $324.03, representing a 31.6x earnings multiple on its $10.26 in diluted net income per share.
Recent Developments (Q4 2025 and Q1 2026)
Sherwin-Williams sustained its growth momentum into Q1 2026, reporting a 6.8% revenue increase to $5.667 billion and a 7.5% rise in diluted earnings per share to $2.15. The Consumer Brands segment drove this top-line expansion, surging 19.2% year-over-year. Operational efficiency and moderating material costs pushed gross profit margins up to 49.1%. First-quarter net operating cash flow swung to a positive $139.1 million, recovering from a $61.1 million outflow in Q1 2025. To bolster financial flexibility, management extended the maturity dates on a combined $275 million in credit facilities through December 2030 and June 2031.
Bulls argue the company's ability to drive margin expansion and positive early-year cash flow validates its structural pricing resilience. Bears warn the stock is priced for perfection at 30.7x earnings as of April 28, 2026, leaving little room for error if persistent consumer demand uncertainty impacts retail volumes.
What to watch: continued sales momentum in the Consumer Brands segment; further gross margin impacts from potential raw material cost inflation.
Rev
$23.10B
FY2024
NI
$2.68B
FY2024
EPS
$10.68
FY2024
OCF
$3.15B
FY2024
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
SHERWIN WILLIAMS CO 8-K Report, Material Agreement (Jun 9, 2026)
The Sherwin-Williams Company (SHW) has filed an 8-K report detailing an amendment to its credit agreement. Specifically, Amendment No. 11 to the Amended and Restated Credit Agreement, entered into on June 9, 2026, extends the maturity date for $200 million of its borrowing and letter of credit commitments. This extension pushes the maturity from June 20, 2026, to June 20, 2031. This amendment, primarily facilitated by Goldman Sachs Bank USA as the administrative agent, provides Sherwin-Williams with extended financial flexibility and reinforces its access to capital. For investors, this signals a proactive approach to managing its debt obligations and ensuring continued operational and growth financing is available for an additional five years.
SHERWIN WILLIAMS CO 8-K Report, Financial Results (Apr 28, 2026)
The Sherwin-Williams Company (SHW) filed an 8-K report on April 28, 2026, primarily to announce its financial results for the first quarter ended March 31, 2026. This filing includes a press release detailing these results and related information, which is furnished as an exhibit. Investors should refer to the press release (Exhibit 99.1) for the specific financial performance metrics and commentary from management. While the 8-K itself is procedural, the core value for investors lies within the accompanying press release. This document will typically contain key financial data such as revenue, earnings per share (EPS), net income, and potentially forward-looking guidance or commentary on business segments. Investors are advised to carefully review the press release for a comprehensive understanding of SHW's recent performance and outlook.
SHERWIN WILLIAMS CO 8-K Report, Shareholder Vote Results (Apr 24, 2026)
The Sherwin-Williams Company (SHW) filed an 8-K report on April 24, 2026, detailing the results of its 2026 Annual Meeting of Shareholders held on April 22, 2026. The primary focus of the filing is the voting outcomes on five key proposals presented to shareholders. All director nominees were elected, and the appointment of Ernst & Young LLP as the independent auditor for 2026 was ratified, indicating continued confidence in the company's governance and financial oversight. Shareholders also provided advisory approval for executive compensation and supported management's proposal to adjust the ownership threshold for calling special meetings to 25%. However, a separate shareholder proposal aiming to grant similar special meeting calling abilities was not approved. These outcomes suggest a general alignment between shareholder sentiment and the company's proposed governance measures, with a clear preference for management-backed initiatives on shareholder engagement and corporate structure.
SHERWIN WILLIAMS CO 8-K Report, Material Agreement (Feb 9, 2026)
The Sherwin-Williams Company (SHW) announced an amendment to its existing credit facility through Amendment No. 1 to the Amended and Restated Credit Agreement, effective February 9, 2026. This amendment primarily extends the maturity date for $75 million of its borrowing and letter of credit commitments. The original maturity was June 20, 2026, and it has now been pushed back to December 20, 2030. This extension demonstrates the company's proactive approach to managing its debt obligations and ensuring continued access to capital. For investors, this suggests a stable liquidity position and management's confidence in the company's future financial health, allowing it to secure longer-term financing for a portion of its credit lines. The specific amount extended represents a portion of the overall credit agreement, and details regarding the full credit facility's terms would be found in the original agreement and the full amendment.
SHERWIN WILLIAMS CO 8-K Report, Financial Results (Jan 29, 2026)
The Sherwin-Williams Company (SHW) has filed an 8-K report on January 29, 2026, to announce its financial results for the fourth quarter and full year ended December 31, 2025. The report primarily includes a press release detailing these results, which provides key performance indicators and financial condition updates for investors. Investors should refer to the furnished press release (Exhibit 99.1) for specific figures related to revenue, profitability, and any forward-looking statements or segment performance. While this 8-K does not provide detailed financial statements within the filing itself, it serves as the official mechanism to disseminate the company's earnings announcement. The information is furnished and not deemed "filed" under Section 18 of the Exchange Act, meaning it doesn't carry the same liability as a formally filed document but is crucial for understanding the company's recent performance and outlook. Investors are encouraged to review the press release for a comprehensive understanding of Sherwin-Williams' financial standing as of year-end 2025.
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