Sherwin-Williams Income Statement
SHW / Materials|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
At a glance
Revenue
$23.6B
FY2025
Gross Profit
$11.5B
48.9% gross margin
Operating Income
N/A
FY2025
Net Income
$2.6B
FY2025
Sherwin-Williams reported $23.6B in revenue and $2.6B in net income for FY2025. Revenue has grown at a 7.3% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Dividend Aristocrat: 49+ consecutive years of dividend increases
- Altman Z-Score NaN (distress zone, below 1.23 threshold)
- Cash-backed earnings: Operating cash flow exceeds net income
- High leverage: Debt-to-equity ratio of 2.10
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.6B | $23.1B | $23.1B | $22.1B | $17.9B | $17.5B | $15.0B | $11.9B | $15.0B | $11.9B | $10.2B | $11.1B | $10.2B | $9.5B | $8.8B |
| Cost of Revenue | $12.1B | $11.9B | $12.3B | $12.8B | $9.9B | $10.1B | $8.3B | $5.9B | $8.3B | $5.9B | $5.6B | $6.0B | $5.6B | $5.3B | $5.0B |
| Gross Profit | $11.5B | $11.2B | $10.8B | $9.3B | $8.0B | $7.4B | $6.7B | $5.9B | $6.7B | $5.9B | $4.6B | $5.2B | $4.6B | $4.2B | $3.7B |
| SG&A Expense | $7.7B | $7.4B | $7.1B | $6.3B | $5.3B | $5.0B | $4.8B | $4.1B | $4.8B | $4.1B | $3.5B | $3.8B | $3.5B | $3.3B | $3.0B |
| R&D Expense | - | - | - | - | - | - | - | $58.0M | $58.5M | $58.0M | $47.0M | $50.0M | $47.0M | $44.6M | $41.7M |
| Operating Income | - | - | $4.2B | $3.4B | $2.8B | $2.6B | $2.2B | $2.2B | $2.2B | $2.2B | $1.4B | $1.7B | $1.4B | $1.3B | $985.0M |
| Interest Expense | $396.2M | $354.7M | $417.5M | $390.8M | $349.3M | $366.7M | $263.5M | $154.1M | $263.5M | $154.1M | $62.7M | $64.2M | $62.7M | $42.8M | $42.5M |
| Income Tax | $769.7M | $770.4M | $721.1M | $553.0M | $440.5M | $251.0M | -$300.2M | $462.5M | -$300.2M | $462.5M | $333.4M | $392.3M | $333.4M | $276.3M | $299.7M |
| Net Income | $2.6B | $2.7B | $2.4B | $2.0B | $1.5B | $1.1B | $1.7B | $1.1B | $1.7B | $1.1B | $752.6M | $865.9M | $752.6M | $631.0M | $441.9M |
| EPS (Basic) | $9.35 | $7.83 | $7.10 | $7.48 | $5.60 | $11.92 | $18.60 | $12.33 | $11.43 | $9.00 | $7.41 | $6.15 | $4.22 | $4.28 | $3.80 |
| EPS (Diluted) | $9.25 | $7.72 | $6.98 | $7.36 | $5.50 | $11.67 | $18.20 | $11.99 | $11.15 | $8.77 | $7.26 | $6.02 | $4.14 | $4.21 | $3.78 |
| Shares Outstanding | 254.5M | 258.9M | 261.1M | 268.7M | 276.4M | 93.1M | 93.9M | 93.0M | 92.2M | 94.7M | 100.1M | 103.3M | 103.9M | 107.0M | 117.0M |
| Gross Margin | 48.9% | 48.5% | 46.7% | 42.1% | 44.9% | 42.3% | 44.8% | 49.9% | 44.8% | 49.9% | 45.3% | 46.4% | 45.3% | 44.1% | 42.7% |
| Operating Margin | - | - | 18.1% | 15.3% | 15.7% | 14.9% | 14.9% | 18.3% | 14.9% | 18.3% | 14.2% | 15.2% | 14.2% | 13.7% | 11.2% |
| Profit Margin | 10.9% | 11.6% | 10.4% | 9.1% | 8.6% | 6.3% | 11.5% | 9.6% | 11.5% | 9.6% | 7.4% | 7.8% | 7.4% | 6.6% | 5.0% |