Sherwin-Williams Co
SHW—
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Sherwin-Williams Co AI Insights
Informational only. Not investment advice.Snapshot
- ROE of 59.9% TTM driven by 3.1x debt/equity leverage - tangible book value is negative (-6.8B) due to 7.8B goodwill from acquisitions[Return on Equity]
- Operating margin 15.8% TTM vs industry median near 0% - dominant pricing power in fragmented coatings market[Operating Margin]
- Negative working capital (-1.3B) means suppliers finance operations - asset-light model with 0.93x asset turnover TTM[Working Capital]
Watch Triggers
- Gross Margin: Falls below 45% TTM — Raw material inflation (TiO2, resins) passing through signals pricing power erosion
- Free Cash Flow: Drops below 2.0B TTM — Would force choice between debt paydown and buybacks, slowing EPS compounding
- Interest Expense: Exceeds 500M annually — Debt refinancing at higher rates compresses net margin from current 11%
Bull Case
Vertically integrated store network (4,800+ locations) creates distribution moat - 15.8% operating margin TTM vs near-zero industry median demonstrates pricing power
Operating MarginAsset Turnover
Capital-light model generates 2.4B FCF TTM on just 867M capex (3.7% of revenue) - funds buybacks without balance sheet strain
Free Cash FlowCapital Expenditure
Bear Case
Goodwill of 7.8B is 176% of equity (4.4B) - Valspar acquisition impairment risk if coatings demand weakens materially
GoodwillTotal Equity
P/E of 32.3x TTM vs industry median 20.2x prices in perfection - 13.6B debt at rising rates pressures 431M interest expense
PE RatioTotal DebtInterest Expense
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
FCF will fund accelerated buybacks as housing/remodel cycle recovers, compressing share count 3-4% annually
1-3ymed
- 2.4B FCF TTM on 23.3B revenue (10.4% yield)
- 668M net buybacks TTM with 13.6B debt capacity
- Housing starts recovery drives paint demand
FCF 2.4B TTM vs 196M dividendsNet stock issuance -668M TTMDebt/equity 3.1x manageable at 8.6x interest coverage
Valuation Context
Caveats
Public Strategies Rankings
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SHW Fundamentals
Manufacturing → Chemical Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$78.75B | — | ||
$91.48B | — | ||
31 | — | ||
$23.57B | +2.1% | — | |
$10.26 | -0.4% | — | |
16.1% | -0.2% | — | |
10.9% | -0.7% | — | |
$2.65B | +27.4% | — | |
59.4% | -9.7% | — | |
Beta 5Y (Monthly) | unknown | — |
SHW Dividend History
105 dividends
2026
$0.800003/02/26$0.8000
2025
$3.160011/14/25$0.7900
08/15/25$0.7900
05/16/25$0.7900
03/03/25$0.7900
2024
$2.860011/15/24$0.7150
08/16/24$0.7150
05/16/24$0.7150
02/23/24$0.7150
2023
$2.420011/16/23$0.6050
08/17/23$0.6050
05/18/23$0.6050
02/24/23$0.6050
2022
$2.400011/17/22$0.6000
08/18/22$0.6000
05/19/22$0.6000
02/25/22$0.6000
2021
$2.200011/18/21$0.5500
08/19/21$0.5500
05/20/21$0.5500
02/26/21$0.5500
2020
$1.786711/12/20$0.4467
08/20/20$0.4467
05/21/20$0.4467
02/28/20$0.4467
2019
$1.506711/14/19$0.3767
08/15/19$0.3767
05/16/19$0.3767
02/22/19$0.3767
2018
$1.146711/15/18$0.2867
08/16/18$0.2867
05/17/18$0.2867
02/23/18$0.2867
2017
$1.133311/16/17$0.2833
08/16/17$0.2833
05/17/17$0.2833
02/23/17$0.2833
2016
$1.120011/16/16$0.2800
08/17/16$0.2800
05/18/16$0.2800
02/25/16$0.2800
2015
$0.893311/10/15$0.2233
08/12/15$0.2233
05/13/15$0.2233
02/26/15$0.2233
2014
$0.733311/12/14$0.1833
08/13/14$0.1833
05/14/14$0.1833
02/27/14$0.1833
2013
$0.666711/13/13$0.1667
08/14/13$0.1667
05/15/13$0.1667
02/21/13$0.1667
2012
$0.520011/14/12$0.1300
08/15/12$0.1300
05/16/12$0.1300
02/23/12$0.1300
2011
$0.486711/16/11$0.1217
08/17/11$0.1217
05/18/11$0.1217
02/23/11$0.1217
2010
$0.480011/17/10$0.1200
08/18/10$0.1200
05/19/10$0.1200
02/24/10$0.1200
2009
$0.473311/10/09$0.1183
08/19/09$0.1183
05/13/09$0.1183
02/25/09$0.1183
2008
$0.466711/12/08$0.1167
08/20/08$0.1167
05/14/08$0.1167
02/27/08$0.1167
2007
$0.420011/14/07$0.1050
08/22/07$0.1050
05/16/07$0.1050
02/28/07$0.1050
2006
$0.333311/15/06$0.0833
08/16/06$0.0833
05/17/06$0.0833
03/01/06$0.0833
2005
$0.273311/16/05$0.0683
08/17/05$0.0683
05/18/05$0.0683
02/24/05$0.0683
2004
$0.226711/09/04$0.0567
08/18/04$0.0567
05/26/04$0.0567
02/19/04$0.0567
2003
$0.206711/12/03$0.0517
08/20/03$0.0517
05/21/03$0.0517
02/20/03$0.0517
2002
$0.200010/31/02$0.0500
08/21/02$0.0500
05/22/02$0.0500
02/21/02$0.0500
2001
$0.193311/01/01$0.0483
08/22/01$0.0483
05/23/01$0.0483
02/22/01$0.0483
2000
$0.180010/30/00$0.0450
08/16/00$0.0450
05/24/00$0.0450
02/24/00$0.0450
SHW Stock Splits
1 stock split
04/01/211:3 split
SHW SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/19/26 | 12/31/25 | Unknown | |
10/28/25 | 09/30/25 | 10-Q | |
07/24/25 | 06/30/25 | 10-Q | |
04/29/25 | 03/31/25 | 10-Q | |
02/20/25 | 12/31/24 | Unknown | |
10/22/24 | 09/30/24 | 10-Q | |
07/23/24 | 06/30/24 | 10-Q | |
04/30/24 | 03/31/24 | 10-Q | |
02/20/24 | 12/31/23 | 10-K | |
10/24/23 | 09/30/23 | 10-Q | |
07/25/23 | 06/30/23 | 10-Q | |
04/25/23 | 03/31/23 | 10-Q | |
02/22/23 | 12/31/22 | 10-K | |
10/25/22 | 09/30/22 | 10-Q | |
07/27/22 | 06/30/22 | 10-Q | |
04/26/22 | 03/31/22 | 10-Q | |
02/17/22 | 12/31/21 | 10-K | |
10/26/21 | 09/30/21 | 10-Q | |
07/27/21 | 06/30/21 | 10-Q | |
04/28/21 | 03/31/21 | 10-Q | |
02/19/21 | 12/31/20 | 10-K | |
10/27/20 | 09/30/20 | 10-Q | |
07/28/20 | 06/30/20 | 10-Q | |
04/29/20 | 03/31/20 | 10-Q | |
02/21/20 | 12/31/19 | 10-K | |
10/22/19 | 09/30/19 | 10-Q | |
07/24/19 | 06/30/19 | 10-Q | |
04/25/19 | 03/31/19 | 10-Q | |
02/22/19 | 12/31/18 | 10-K | |
10/25/18 | 09/30/18 | 10-Q | |
07/25/18 | 06/30/18 | 10-Q | |
04/25/18 | 03/31/18 | 10-Q | |
02/23/18 | 12/31/17 | 10-K | |
10/25/17 | 09/30/17 | 10-Q | |
07/26/17 | 06/30/17 | 10-Q | |
04/21/17 | 03/31/17 | 10-Q | |
02/22/17 | 12/31/16 | 10-K | |
10/26/16 | 09/30/16 | 10-Q | |
07/27/16 | 06/30/16 | 10-Q | |
04/27/16 | 03/31/16 | 10-Q | |
02/24/16 | 12/31/15 | 10-K | |
10/29/15 | 09/30/15 | 10-Q | |
07/22/15 | 06/30/15 | 10-Q | |
04/22/15 | 03/31/15 | 10-Q | |
02/25/15 | 12/31/14 | 10-K | |
10/29/14 | 09/30/14 | 10-Q | |
07/24/14 | 06/30/14 | 10-Q | |
04/23/14 | 03/31/14 | 10-Q | |
02/27/14 | 12/31/13 | 10-K | |
10/30/13 | 09/30/13 | 10-Q | |
07/24/13 | 06/30/13 | 10-Q | |
04/24/13 | 03/31/13 | 10-Q | |
02/28/13 | 12/31/12 | 10-K | |
10/26/12 | 09/30/12 | 10-Q | |
07/25/12 | 06/30/12 | 10-Q | |
04/25/12 | 03/31/12 | 10-Q | |
02/23/12 | 12/31/11 | 10-K | |
10/27/11 | 09/30/11 | 10-Q | |
07/27/11 | 06/30/11 | 10-Q | |
04/26/11 | 03/31/11 | 10-Q | |
02/23/11 | 12/31/10 | 10-K | |
10/27/11 | 09/30/10 | 10-Q | |
07/27/10 | 06/30/10 | 10-Q | |
04/28/10 | 03/31/10 | 10-Q | |
02/24/10 | 12/31/09 | 10-K | |
10/28/10 | 09/30/09 | 10-Q | |
10/27/09 | 09/30/09 | 10-Q | |
07/31/09 | 06/30/09 | 10-Q | |
04/24/09 | 03/30/09 | 10-Q | |
02/24/09 | 12/31/08 | 10-K | |
10/22/08 | 09/30/08 | 10-Q | |
07/22/08 | 06/30/08 | 10-Q | |
04/24/08 | 03/30/08 | Unknown | -- |
02/28/08 | 12/31/07 | 10-K | |
10/25/07 | 09/30/07 | 10-Q | |
07/23/07 | 06/30/07 | 10-Q | |
04/23/07 | 03/30/07 | Unknown | -- |
02/28/07 | 12/31/06 | 10-K | |
10/25/06 | 09/30/06 | 10-Q | |
07/27/06 | 06/30/06 | 10-Q | |
04/25/06 | 03/30/06 | Unknown | -- |
03/07/06 | 12/31/05 | 10-K | |
11/09/05 | 09/30/05 | 10-Q | |
08/08/05 | 06/30/05 | 10-Q | |
05/06/05 | 03/30/05 | Unknown | -- |
03/10/05 | 12/31/04 | 10-K | |
11/08/04 | 09/30/04 | 10-Q | |
08/05/04 | 06/30/04 | 10-Q | |
05/07/04 | 03/30/04 | Unknown | -- |
03/11/04 | 12/31/03 | 10-K | |
11/12/03 | 09/30/03 | 10-Q | |
08/14/03 | 06/30/03 | 10-Q | |
05/13/03 | 03/30/03 | Unknown | -- |
03/13/03 | 12/31/02 | 10-K | |
11/12/02 | 09/30/02 | 10-Q | |
08/09/02 | 06/30/02 | 10-Q | |
05/15/02 | 03/30/02 | Unknown | -- |
03/14/02 | 12/31/01 | 10-K | |
11/13/01 | 09/30/01 | 10-Q | |
08/14/01 | 06/30/01 | 10-Q | |
05/15/01 | 03/30/01 | Unknown | -- |
03/13/01 | 12/31/00 | 10-K | |
11/13/00 | 09/30/00 | 10-Q | |
08/14/00 | 06/30/00 | 10-Q | |
05/15/00 | 03/30/00 | Unknown | -- |