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 Overview →
Growth & profitability
Revenue has grown 5.1% per year over the past 5 years.
Net income has grown in line with revenue (4.8% vs 5.1% per year).
Free cash flow has declined 3.1% per year over the past 5 years.
Financial health
Total debt ($10.9B) exceeds cash ($207M); net debt is $10.7B.
Total debt has grown in line with revenue (5.6% vs 5.1% per year).
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 30.7% of earnings and 29.8% of free cash flow.
The dividend has grown 10.1% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
2025
$23.6B
$2.6B
48.8%
0.0%
$2.7B
$10.9B
$207M
2024
$23.1B
$2.7B
48.5%
0.0%
$2.1B
$9.9B
$210M
2023
$23.1B
$2.4B
46.7%
18.1%
$2.6B
$9.9B
$277M
2022
$22.1B
$2.0B
42.1%
15.3%
$1.3B
$10.6B
$199M
2021
$19.9B
$1.9B
42.8%
15.5%
$1.9B
$9.6B
$166M
2020
$18.4B
$2.0B
47.3%
18.4%
$3.1B
$8.3B
$227M
2019
$17.9B
$1.5B
44.9%
15.7%
$2.0B
$8.7B
$162M
2018
$17.5B
$1.1B
42.3%
14.9%
$1.7B
$9.3B
$156M
2017
$15.0B
$1.7B
44.8%
14.9%
$1.7B
$10.5B
$204M
2016
—
$1.1B
—
—
$1.1B
$2.0B
$890M
2015
—
$1.1B
—
—
$1.2B
$1.9B
$206M
2014
—
$866M
—
—
$881M
$1.8B
$41M
2013
—
$753M
—
—
$917M
$1.7B
$745M
2012
—
$631M
—
—
$731M
$1.7B
$863M
2011
—
$442M
—
—
$582M
$993M
$33M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$5.7B
$535M
49.1%
0.0%
$800000
$11.7B
$217M
Dec '25
$5.6B
$477M
48.5%
0.0%
$862M
$10.9B
$207M
Sep '25
$6.4B
$833M
49.2%
0.0%
$1.1B
$11.5B
$242M
Jun '25
$6.3B
$755M
49.4%
0.0%
$931M
$10.7B
$270M
Mar '25
$5.3B
$504M
48.2%
0.0%
-$250M
$10.8B
$200M
Dec '24
$5.3B
$480M
48.6%
0.0%
$635M
$9.9B
$210M
Sep '24
$6.2B
$806M
49.1%
21.4%
$839M
$10.1B
$238M
Jun '24
$6.3B
$890M
48.8%
22.5%
$952M
$10.3B
$200M
Mar '24
$5.4B
$505M
47.2%
16.5%
-$343M
$10.7B
$180M
Dec '23
$5.3B
$356M
48.5%
15.1%
$599M
$9.9B
$277M
Sep '23
$6.1B
$762M
47.7%
21.2%
$1.2B
$9.9B
$503M
Jun '23
$6.2B
$794M
46.0%
19.7%
$1.0B
$10.4B
$209M
Mar '23
$5.4B
$477M
44.5%
15.4%
-$122M
$11.1B
$151M
Dec '22
$5.2B
$386M
42.7%
13.1%
$407M
$10.6B
$199M
Sep '22
$6.0B
$685M
42.8%
18.1%
$464M
$10.5B
$131M
Jun '22
$5.9B
$578M
41.7%
16.4%
$484M
$10.6B
$313M
Mar '22
$5.0B
$371M
41.1%
13.1%
-$80M
$10.6B
$401M
Dec '21
$4.8B
$304M
39.5%
10.6%
$70M
$9.6B
$166M
Sep '21
$5.1B
$502M
41.6%
15.9%
$753M
$9.0B
$313M
Jun '21
$5.4B
$649M
44.8%
18.5%
$919M
$9.1B
$220M
Valuation over time
How the market has priced SHW 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 risen from 27.4× (Mar '23) to 32.6× (Jun '26).
The price-to-sales ratio has risen from 2.5× (Mar '23) to 3.5× (Jun '26).
The dividend yield has fallen from 1.1% (Mar '23) to 0.9% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is SHW growing its revenue and profit?
Over the past 5 years, Sherwin-Williams's revenue has grown 5.1% per year, and net income grown 4.8% per year. These are computed facts, not advice.
How much debt does SHW have?
As of FY2025, Sherwin-Williams reported $10.9B of total debt against $207M of cash.
What is SHW's profit margin?
In FY2025, gross margin was 48.8%, operating margin —, and net margin 10.9%.
What is SHW's P/E ratio?
As of Jun '26, Sherwin-Williams traded at a price-to-earnings ratio of about 32.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.