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Earnings transcript
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SHW
The Sherwin-Williams Company
$346.66
-2.01
(-0.58%)
| Exchange: | NYSE |
| Market Cap: | 84.153B |
| Shares Outstanding: | 545.854M |
Delayed data
About The Company
| Sector: | Basic Materials | |||||
| Industry: | Chemicals – Specialty | |||||
| CEO: | Heidi G. Petz | |||||
| Full Time Employees: | 64249 | |||||
| Address: |
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| Website: | https://www.sherwin-williams.com |
The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paint, coatings, and related products to professional, industrial, commercial and retail customers. The company operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group. The Paint Stores Group segment offers architectural paint and coatings; protective and marine products; and OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners under the Sherwin-Williams brand. The Consumer Brands Group segment supplies a portfolio of branded and private-label architectural paints, stains, varnishes, industrial products, wood finishes products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks, and adhesives to retailers, including home centers and hardware stores, and dedicated dealers and distributors. The Performance Coatings Group segment develops and sells industrial coatings for wood finishing and general industrial applications; automotive refinish products; protective and marine coatings; coil coatings; packaging coatings; and performance-based resins and colorants. This segment serves retailers, dealers, jobbers, licensees, and other third-party distributors. The company operates in North America, South America, the Caribbean, Europe, Asia, and Australia. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
Short, structured highlights from the call so you can focus on what matters.
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 23,051,900 | 23,098,500 | 23,574,300 |
| Gross Profit | 10,758,100 | 11,195,100 | 11,536,200 |
| EBITDA | 4,149,900 | 4,491,500 | 4,395,900 |
| Operating Income | 3,606,400 | 3,761,900 | 3,804,800 |
| Net Income | 2,388,800 | 2,681,400 | 2,568,500 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 22,954,400 | 23,632,600 | 25,901,700 |
| Total Liabilities | 19,238,600 | 19,581,400 | 21,303,400 |
| Total Stockholders Equity | 3,715,800 | 4,051,200 | 4,598,300 |
| Total Debt | 11,809,700 | 11,913,300 | 12,942,600 |
| Cash and Cash Equivalents | 276,800 | 210,400 | 207,200 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 3,521,900 | 3,153,200 | 3,451,600 |
| Capital Expenditure | -888,400 | -1,070,000 | -797,600 |
| Free Cash Flow | 2,633,500 | 2,083,200 | 2,654,000 |
| Net Income | 2,388,800 | 2,681,400 | 2,568,500 |
| Net Change in Cash | 78,000 | -66,400 | -3,200 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 28,345,387.241 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 29,239,211.130 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 28,891,512.345 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 6,520,190.759 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 6,725,793.956 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 6,645,814.015 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 4,017,540.312 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 4,183,191.352 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 4,118,752.152 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 8,710,201.779 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 8,984,863.273 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 8,878,019.555 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 16.550 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 16.810 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 16.150 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 10 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 5 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Financial Performance: Sherwin-Williams reported robust third-quarter results for 2025, with key financial metrics such as revenue and net income reflecting consistent growth as highlighted in the Q3 2025 earnings call summary. Strong operating cash flow and free cash flow generation, as per cash flow statements, indicate a healthy financial position to support ongoing operations and investments.
- Operational Efficiency: High gross profit margin and net profit margin (from key metrics TTM) demonstrate effective cost management and profitability, positioning SHW favorably within the industry. The earnings call emphasized a focus on controlling costs, further reinforcing operational strength.
- Market Leadership: As a key player in the paints and coatings industry within the materials sector (per company profile), Sherwin-Williams benefits from a strong brand and extensive distribution network, enabling it to maintain a competitive edge over peers, as reflected in stable performance metrics over 1-year and 5-year periods.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates SHW intrinsic value between $120.63 – $249.87 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about SHW valuation
Is The Sherwin-Williams Company (SHW) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for The Sherwin-Williams Company (SHW) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is SHW a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether SHW trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is SHW’s P/E ratio?
You can see SHW’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for SHW?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is SHW a good long-term investment?
Whether SHW fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
SHW
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Daily snapshot
-0.58
Trading Metrics:
| Open: | 347.31 | Previous Close: | 348.66 | |
| Day Low: | 343.04 | Day High: | 347.4 | |
| Year Low: | 289.86 | Year High: | 377.77 | |
| Price Avg 50: | 341.27 | Price Avg 200: | 334.23 | |
| Volume: | 167548 | Average Volume: | 2.199M |
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Login — it's freeSHW full analysis
Welcome to MARKETSNAP’s SWOT analysis for Sherwin-Williams, the powerhouse in the paint and coatings game. If you’re a long-term investor looking to brush up on a solid stock, you’re in the right place. Sherwin-Williams, for those who might not be as familiar, operates in the materials sector, specifically in the specialty chemicals industry, and they’ve been a dominant player in delivering paints, coatings, and related products globally. Let’s dive into what’s been happening with this company lately, break down their…
