Sherwin-Williams Financial Statements
NYSE: SHWConsumer DiscretionaryRETAIL: Building MaterialsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Sherwin-Williams revenue and earnings
In fiscal 2025, Sherwin-Williams generated $23.57 billion in revenue, up 2.1% from fiscal 2024, its 16th consecutive year of revenue growth. Net income was $2.57 billion (-4.2% year over year), for a net margin of 10.9% versus a median of 10.4% in the prior 5 years. Gross margin was 48.8% (up from 48.5%).
Diluted earnings per share came in at $10.26, down from $10.55. Over the last 5 fiscal years, SHW's revenue has grown at a 5.1% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Sherwin-Williams income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 23.57B | 23.10B | 23.05B | 22.15B | 19.94B | 18.36B | 17.90B | 17.53B | 14.98B | 11.86B |
| Revenue growth (YoY) | +2.06% | +0.20% | +4.08% | +11.05% | +8.62% | +2.57% | +2.09% | +17.02% | +26.39% | +4.56% |
| Cost of Revenue | 12.06B | 11.90B | 12.29B | 12.82B | 11.40B | 9.68B | 9.86B | 10.12B | 8.26B | 5.93B |
| Gross Profit | 11.52B | 11.20B | 10.76B | 9.33B | 8.54B | 8.68B | 8.04B | 7.42B | 6.72B | 5.92B |
| Operating Expenses | — | — | 6.60B | 5.93B | 5.46B | 5.31B | 5.23B | 4.81B | 4.48B | 3.76B |
| Research & Development | — | — | — | — | — | — | — | 51.92M | 58.47M | 58.04M |
| Selling, General & Admin | 7.70B | 7.42B | 7.07B | 6.33B | 5.88B | 5.48B | 5.27B | 5.03B | 4.80B | 4.14B |
| Operating Income | — | — | 4.16B | 3.40B | 3.08B | 3.37B | 2.81B | 2.61B | 2.24B | 2.16B |
| Interest Expense | 465.00M | 415.70M | 417.50M | 390.80M | 334.70M | 340.40M | 349.30M | 366.70M | 263.50M | 154.09M |
| Other Income (Expense) | -20.90M | 44.70M | -65.50M | -47.00M | 19.50M | -5.30M | -16.70M | -20.10M | 32.70M | 11.82M |
| Pretax Income | 3.34B | 3.45B | 3.11B | 2.57B | 2.25B | 2.52B | 1.98B | 1.36B | 1.47B | 1.60B |
| Income Tax | 769.70M | 770.40M | 721.10M | 553.00M | 384.20M | 488.80M | 440.50M | 251.00M | -300.20M | 462.53M |
| Net Income | 2.57B | 2.68B | 2.39B | 2.02B | 1.86B | 2.03B | 1.54B | 1.11B | 1.73B | 1.13B |
| Net Income growth (YoY) | -4.21% | +12.25% | +18.25% | +8.35% | -8.18% | +31.73% | +39.02% | -35.84% | +52.55% | +7.48% |
| EPS (Basic) | 10.37 | 10.68 | 9.35 | 7.83 | 7.10 | 7.48 | 5.60 | 11.92 | 18.60 | 12.33 |
| EPS (Diluted) | 10.26 | 10.55 | 9.25 | 7.72 | 6.98 | 7.36 | 5.50 | 11.67 | 18.20 | 11.99 |
| Shares Outstanding (Basic) | 247.60M | 251.00M | 255.40M | 258.00M | 262.50M | 271.30M | 275.40M | 92.99M | 92.91M | 91.84M |
| Shares Outstanding (Diluted) | 250.40M | 254.10M | 258.30M | 261.80M | 267.10M | 275.80M | 280.30M | 94.99M | 94.93M | 94.49M |
| EBITDA | — | — | 4.45B | 3.66B | 3.35B | 3.64B | 3.07B | 2.89B | 2.52B | 2.34B |
| Gross Margin | 48.85% | 48.47% | 46.67% | 42.10% | 42.83% | 47.29% | 44.89% | 42.31% | 44.84% | 49.94% |
| Operating Margin | — | — | 18.05% | 15.34% | 15.46% | 18.37% | 15.69% | 14.89% | 14.92% | 18.25% |
| Net Margin | 10.90% | 11.61% | 10.36% | 9.12% | 9.35% | 11.06% | 8.61% | 6.32% | 11.53% | 9.55% |
This table shows 10 annual periods of Sherwin-Williams's income statement, from FY 2025 back to FY 2016, across 20 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow SHW's reporting calendar. What is a income statement?