Company / Operating Margin
Sherwin-Williams Operating Margin History
FY2016-FY2023 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
18.1%
FY2023
5-year range
15.3% / 18.1%
FY2019-FY2023
Trend
+17.7%
vs FY2022
Sector context
#17 of 84
Materials
What the data says
Sherwin-Williams's operating margin of 18.1% is higher than 80% of companies in the Materials sector (FY2023). Operating Margin has fluctuated over the past 8 years, ranging from 14.9% in FY2020 to 18.3% in FY2018.
Based on SEC 10-K filings.
18.1% in FY2023 with a 5-year CAGR of -0.2%. Top quartile in the Materials sector.
Improved from 15.7% to 18.1% over the past 2 years.
Materials sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +3.2pp
- 5-Year Change
- -0.2pp
- 10-Year Change
- -
Sector benchmark
+125.7% above sector average
Key checks
Key Insights
- In FY2023, operating margin increased 17.7% year-over-year.
- Currently 88.3pp above the Materials sector average.
- Peak operating margin was recorded in FY2018.
- Lowest operating margin in the period was in FY2020.
Company context
Key Data Points
- Altman Z-Score 1.01 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
- Strong return on equity: 58.1%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | - | - |
| FY2024 | - | - |
| FY2023 | 18.1% | +17.7% |
| FY2022 | 15.3% | -2.2% |
| FY2021 | 15.7% | +5.4% |
| FY2020 | 14.9% | -0.2% |
| FY2019 | 14.9% | -18.2% |
| FY2018 | 18.3% | +22.3% |
| FY2017 | 14.9% | -18.2% |
| FY2016 | 18.3% | +28.9% |
As of FY2023 · SEC Form 10-K · Last checked Jun 30, 2026