PPG Financials PPG Industries

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:18 UTC Overview →

Growth & profitability

Revenue has grown 2.8% per year over the past 5 years.
Net income has grown faster than revenue (8.3% vs 2.8% per year).
Free cash flow has declined 8.6% per year over the past 5 years.

Financial health

Total debt ($7.3B) exceeds cash ($2.2B); net debt is $5.1B.
Total debt has grown in line with revenue (4.9% vs 2.8% per year).

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 39.8% of earnings and 54.0% of free cash flow.
The dividend has grown 4.8% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$15.9B	$1.6B	41.3%	0.0%	19.8%	7.1%	$1.2B	$7.3B	$2.2B
2024	$15.8B	$1.1B	41.6%	0.0%	16.4%	5.7%	$699M	$5.8B	$1.3B
2023	$16.2B	$1.3B	40.4%	16.5%	16.2%	5.9%	$1.9B	$6.0B	$1.5B
2022	$15.6B	$1.0B	36.1%	13.1%	15.6%	4.9%	$477M	$6.8B	$1.1B
2021	$16.8B	$1.4B	38.8%	12.9%	22.9%	6.7%	$1.2B	$6.6B	$1.0B
2020	$13.8B	$1.1B	43.8%	15.2%	18.6%	5.4%	$1.8B	$5.7B	$1.8B
2019	$15.1B	$1.2B	42.9%	15.0%	23.5%	7.0%	$1.7B	$5.0B	$1.2B
2018	$15.4B	$1.3B	41.5%	13.8%	29.0%	8.4%	$1.1B	$5.0B	$902M
2017	$14.7B	$1.6B	44.3%	15.5%	28.7%	9.6%	$1.2B	$4.1B	$1.4B
2016	$14.3B	$873M	0.0%	16.7%	18.1%	5.5%	$971M	$4.4B	$1.8B
2015	—	$1.4B	—	—	28.2%	8.2%	$1.5B	$4.3B	$1.3B
2014	—	$2.1B	—	—	40.6%	12.0%	$964M	$4.0B	$686M
2013	—	$3.2B	—	—	65.5%	20.4%	$1.3B	$3.9B	$1.1B
2012	—	$941M	—	—	23.2%	5.9%	$1.5B	$4.0B	$1.3B
2011	—	$1.1B	—	—	33.7%	7.6%	$1.1B	$3.6B	$1.3B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$4.4B	$451M	40.5%	17.4%	5.3%	2.0%	$411M	$6.8B	$1.6B
Jun '26	$4.5B	$437M	40.2%	16.5%	5.2%	1.9%	$446M	$6.9B	$1.5B
Mar '26	$3.9B	$382M	42.1%	16.2%	4.7%	1.7%	-$163M	$7.1B	$1.6B
Dec '25	$3.9B	$300M	40.8%	0.0%	3.8%	1.4%	$586M	$7.3B	$2.2B
Sep '25	$4.1B	$453M	40.6%	16.9%	5.8%	2.0%	$538M	$7.3B	$1.8B
Jun '25	$4.2B	$450M	42.0%	17.7%	5.9%	2.0%	$266M	$7.3B	$1.6B
Mar '25	$3.7B	$373M	41.9%	16.5%	5.4%	1.8%	-$227M	$7.3B	$1.8B
Dec '24	$3.7B	-$280M	40.6%	0.0%	-4.1%	-1.4%	$138M	$5.8B	$1.3B
Sep '24	$4.0B	$468M	40.9%	17.1%	6.0%	2.1%	$623M	$6.5B	$1.3B
Jun '24	$4.2B	$528M	42.1%	18.8%	6.8%	2.4%	$250M	$6.4B	$1.1B
Mar '24	$3.8B	$400M	42.7%	17.3%	5.0%	1.8%	-$312M	$6.2B	$1.2B
Dec '23	$2.3B	$90M	37.6%	23.7%	1.1%	0.4%	$763M	$6.0B	$1.5B
Sep '23	$4.6B	$426M	40.7%	15.0%	5.5%	2.0%	$753M	$6.2B	$1.2B
Jun '23	$4.9B	$490M	41.2%	16.2%	6.4%	2.2%	$414M	$6.9B	$1.2B
Mar '23	$4.4B	$264M	40.7%	14.5%	3.7%	1.2%	-$35M	$7.3B	$1.4B
Dec '22	$4.2B	$238M	37.3%	10.2%	3.6%	1.1%	$437M	$6.8B	$1.1B
Sep '22	$4.5B	$329M	36.9%	12.4%	5.5%	1.6%	$408M	$6.8B	$1.0B
Jun '22	$4.7B	$441M	37.0%	12.8%	7.1%	2.0%	$98M	$7.1B	$931M
Mar '22	$4.3B	$18M	37.4%	10.7%	0.3%	0.1%	-$498M	$7.1B	$960M
Dec '21	$4.2B	$286M	35.8%	8.3%	4.5%	1.3%	$305M	$6.6B	$1.0B

Valuation over time

How the market has priced PPG against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 28.8× (Mar '23) to 17.0× (Nov '26).
The price-to-sales ratio has fallen from 1.9× (Mar '23) to 1.7× (Nov '26).
The dividend yield has risen from 1.9% (Mar '23) to 2.3% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is PPG growing its revenue and profit?

Over the past 5 years, PPG Industries's revenue has grown 2.8% per year, and net income grown 8.3% per year. These are computed facts, not advice.

How much debt does PPG have?

As of FY2025, PPG Industries reported $7.3B of total debt against $2.2B of cash.

What is PPG's profit margin?

In FY2025, gross margin was 41.3%, operating margin —, and net margin 9.9%.

What is PPG's P/E ratio?

PPG Industries's P/E (TTM) is 17.05 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the PPG stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 17.0× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.