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SHERWIN WILLIAMS COSHW

Sector
Consumer
Industry
Retail-Building Materials, Hardware, Garden Supply
Exchange
NYSE

Stock Price $SHW

Latest filings

You are here#5 of 15 in Materials by market cap

Filing record · 2016–202610-K1110-Q328-K145

SHW filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 145 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jun ’17Jun ’17
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Material agreement8-K · Nov ’21Nov ’21
  4. Material agreement8-K · Nov ’25Nov ’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. $23.57B
YoY changeLargest recent move+26.4%in FY17Latest +2.1%

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

View full history →
All SHW Financial Metrics61 metrics

Income Statement16

Balance Sheet26

Cash Flow14

Per Share5

02—Overview

SHERWIN WILLIAMS CO Financial Overview 2021–2025

Updated Jul 10, 2026

Sherwin-Williams generated a formidable $3.452 billiona 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 billionb 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 billionc 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.

03—Filings

Recent SEC Filings

  1. 8-KSHERWIN WILLIAMS CO 8-K Report, Material Agreement (Sep 29, 2026)Sherwin-Williams Company has entered into a new 364-day senior unsecured Term Loan Credit Agreement, replacing its previous agreement. This new facility provides $750 million in funding, maturing on September 23, 2027, and can be used for general corporate purposes, including refinancing existing debt and financing working capital. A key financial covenant requires the company's consolidated leverage ratio not to exceed 3.75 to 1.00, with a potential temporary increase to 4.25 to 1.00 upon consummation of a Qualifying Acquisition. In parallel, Sherwin-Williams' subsidiary, SW Luxembourg, has secured a new €100 million term loan agreement with ING Bank, also maturing in September 2027 with potential extensions. This European facility, guaranteed by the parent company, serves similar purposes. These actions demonstrate Sherwin-Williams' proactive approach to managing its debt structure and ensuring liquidity for its operational needs.
  2. 8-KSHERWIN WILLIAMS CO 8-K Report, Financial Results (Jul 28, 2026)The Sherwin-Williams Company (SHW) reported second quarter 2026 results that beat its own expectations, with consolidated net sales rising 7.5% to $6.79 billion and diluted EPS up 14.3% to $3.43 (adjusted diluted EPS up 9.5% to $3.70). Growth was broad across all three segments: Paint Stores Group same-store sales rose 4.2%, driven by mid-single-digit price increases and low-single-digit volume growth; Consumer Brands Group sales rose 21.5%, aided by the October 2025 Suvinil acquisition; and Performance Coatings Group sales rose 6.3%. Gross margin contracted modestly to 49.2% from 49.4% as raw material inflation outpaced pricing in the quarter, though SG&A leverage and higher sales supported profit growth. EBITDA grew 13.8% to $1.43 billion, and adjusted EBITDA margin expanded 60 basis points to 21.5%. Interest expense rose to $135.9 million from $112.4 million, reflecting higher short-term borrowings and long-term debt. Management raised full-year 2026 guidance, with diluted EPS now expected at $10.92 to $11.32 and adjusted diluted EPS at $11.80 to $12.20, versus $11.43 adjusted in 2025. Net sales are guided up a mid-to-high single-digit percentage for both the third quarter and full year. Management was explicit that customer sentiment and leading indicators point to continued demand softness in the second half, so the raise is driven by pricing actions (including an announced 8% price increase in Paint Stores Group effective September 1), share gains, and about $17 million of annualized restructuring savings, rather than a demand recovery. Cash generation was strong, with free cash flow of $1.24 billion in the quarter and 86% free cash flow conversion, though total debt and short-term borrowings increased and shareholders' equity declined year over year to $3.85 billion. For investors, the key questions are whether pricing can keep pace with broad-based cost inflation in raw materials, energy, logistics and packaging, and whether second-half volume weakness materializes as management anticipates. The company's leverage has risen, with long-term debt of $8.3 billion plus $2.2 billion short-term borrowings and $1.5 billion current maturities against $293 million of cash, so debt-funded capital returns ($2.23 billion in the first half) deserve monitoring alongside the guidance trajectory.
  3. 8-KSHERWIN 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.
  4. 8-KSHERWIN WILLIAMS CO 8-K Report, Financial Results (Apr 28, 2026)The Sherwin-Williams Company (SHW) reported first quarter 2026 results that beat its own sales expectations, with consolidated Net sales up 6.8% to $5.67 billion, helped by the October 2025 Suvinil acquisition and a 1.7% favorable foreign currency impact. Diluted EPS rose 7.5% to $2.15, while adjusted diluted EPS (excluding Valspar acquisition-related amortization) rose 4.4% to $2.35. Net income increased 6.1% to $534.7 million and EBITDA increased 8.8% to $998.2 million. Same-store sales in the Paint Stores Group grew 2.4%, and the Consumer Brands and Performance Coatings groups both posted higher segment profit. Margin and cost picture was mixed. Gross margin expanded to 49.1% from 48.2%, but SG&A rose to 34.8% of sales from 33.8%, and interest expense climbed to $131.6 million from $103.8 million as borrowings increased. Management said it expects little to no recovery in most end markets this year, citing geopolitical uncertainty and potential inflation in raw materials, energy and logistics. It is pursuing targeted price increases, now expected to push full-year price/mix to the high end of its low-single-digit range, and reaffirmed full-year 2026 adjusted diluted EPS guidance of $11.50 to $11.90 and GAAP diluted EPS guidance of $10.70 to $11.10. Second-quarter net sales are expected to rise a mid-single-digit percentage. Balance sheet leverage increased, with long-term debt of $9.3 billion and short-term borrowings of $2.4 billion against shareholders' equity of $4.4 billion. Cash returned to shareholders was $772.7 million, including dividends and repurchases of 1.6 million shares, while operating cash flow was only $139.1 million for the quarter. The company furnished this information under Item 2.02 and did not file it for liability purposes under the Exchange Act.
  5. 8-KSHERWIN 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.
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04—See also

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