SHW Stock - The Sherwin-Williams Company
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $23.10B | $23.05B | $22.15B | $19.94B | $18.36B |
| Gross Profit | $11.20B | $10.76B | $9.33B | $8.54B | $8.68B |
| Gross Margin | 48.5% | 46.7% | 42.1% | 42.8% | 47.3% |
| Operating Income | $3.76B | $3.61B | $3.00B | $2.66B | N/A |
| Net Income | $2.68B | $2.39B | $2.02B | $1.86B | $2.03B |
| Net Margin | 11.6% | 10.4% | 9.1% | 9.3% | 11.1% |
| EPS | $10.68 | $9.35 | $7.83 | $7.10 | $7.48 |
The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners. 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 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. It serves retailers, dealers, jobbers, licensees, and other third-party distributors through its branches and direct sales staff, as well as through outside sales representatives. The company has operations primarily in the North and South America, the Caribbean, Europe, Asia, and Australia. As of February 17, 2022, it operated approximately 5,000 company-operated stores and facilities. The Sherwin-Williams Company was founded in 1866 and is headquartered in Cleveland, Ohio.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 18th 2025 | Citigroup | Upgrade | Buy | $390 |
| August 14th 2025 | BofA Securities | Upgrade | Neutral | $375 |
| June 13th 2025 | Citigroup | Downgrade | Neutral | $385 |
| March 10th 2025 | Jefferies | Downgrade | Hold | $380← $423 |
| February 26th 2025 | Citigroup | Resumed | Buy | $423← $418 |
| January 24th 2025 | Berenberg | Upgrade | Buy | $420← $321 |
| October 7th 2024 | KeyBanc Capital Markets | Downgrade | Sector Weight | - |
| July 24th 2024 | Evercore ISI | Reiterated | Outperform | $365← $360 |
| April 25th 2024 | KeyBanc Capital Markets | Upgrade | Overweight | $400 |
| March 7th 2024 | UBS | Upgrade | Buy | $402← $312 |
| March 1st 2024 | Wolfe Research | Initiation | Peer Perform | - |
| February 27th 2024 | Northcoast | Upgrade | Buy | $360 |
| January 8th 2024 | Seaport Research Partners | Downgrade | Neutral | - |
| January 3rd 2024 | Robert W. Baird | Downgrade | Neutral | $300← $270 |
| January 2nd 2024 | Northcoast | Downgrade | Neutral | $315 |
Earnings History & Surprises
SHWEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 27, 2026 | — | — | — | — |
Q1 2026 | Jan 29, 2026 | $2.17 | — | — | — |
Q4 2025 | Oct 28, 2025 | $3.45 | $3.59 | +4.1% | ✓ BEAT |
Q3 2025 | Jul 22, 2025 | $3.76 | $3.38 | -10.1% | ✗ MISS |
Q2 2025 | Apr 29, 2025 | $2.15 | $2.25 | +4.7% | ✓ BEAT |
Q1 2025 | Jan 30, 2025 | $2.06 | $2.09 | +1.5% | ✓ BEAT |
Q4 2024 | Oct 22, 2024 | $3.54 | $3.37 | -4.8% | ✗ MISS |
Q3 2024 | Jul 23, 2024 | $3.48 | $3.70 | +6.3% | ✓ BEAT |
Q2 2024 | Apr 23, 2024 | $2.21 | $2.17 | -1.8% | ✗ MISS |
Q1 2024 | Jan 25, 2024 | $1.80 | $1.81 | +0.6% | ✓ BEAT |
Q4 2023 | Oct 24, 2023 | $2.77 | $3.20 | +15.5% | ✓ BEAT |
Q3 2023 | Jul 25, 2023 | $2.69 | $3.29 | +22.3% | ✓ BEAT |
Q2 2023 | Apr 25, 2023 | $1.78 | $2.04 | +14.6% | ✓ BEAT |
Q1 2023 | Jan 26, 2023 | $1.87 | $1.89 | +1.1% | ✓ BEAT |
Q4 2022 | Oct 25, 2022 | $2.56 | $2.83 | +10.5% | ✓ BEAT |
Q3 2022 | Jul 27, 2022 | $2.77 | $2.41 | -13.0% | ✗ MISS |
Q2 2022 | Apr 26, 2022 | $1.54 | $1.61 | +4.5% | ✓ BEAT |
Q1 2022 | Jan 27, 2022 | $1.38 | $1.34 | -2.9% | ✗ MISS |
Q4 2021 | Oct 26, 2021 | $2.10 | $2.09 | -0.5% | ✗ MISS |
Q3 2021 | Jul 27, 2021 | $2.68 | $2.65 | -1.1% | ✗ MISS |
Latest News
Citigroup Upgrades Sherwin-Williams to Buy, Lowers Price Target to $390
📈 PositiveMizuho Maintains Outperform on Sherwin-Williams, Lowers Price Target to $390
➖ NeutralSherwin-Williams Elects Benjamin E. Meisenzahl CFO, Effective Jan. 1, 2026 , Succeeding Allen J.
➖ NeutralCitigroup Maintains Neutral on Sherwin-Williams, Raises Price Target to $392
➖ NeutralRBC Capital Maintains Outperform on Sherwin-Williams, Raises Price Target to $405
📈 PositiveUBS Maintains Buy on Sherwin-Williams, Raises Price Target to $422
📈 PositiveJP Morgan Maintains Overweight on Sherwin-Williams, Raises Price Target to $385
📈 PositiveWells Fargo Maintains Overweight on Sherwin-Williams, Raises Price Target to $410
📈 PositiveSherwin-Williams shares are trading higher after the company reported better-than-expected Q3 financial results.
📈 PositiveSherwin-Williams Narrows FY2025 GAAP EPS Guidance from $10.11-$10.41 to $10.16-$10.36 vs $10.29 Est
➖ NeutralSherwin-Williams Narrows FY2025 Adj EPS Guidance from $11.20-$11.50 to $11.25-$11.45 vs $11.32 Est
➖ NeutralSherwin-Williams Q3 Adj. EPS $3.59 Beats $3.44 Estimate, Sales $6.358B Beat $6.197B Estimate
📈 PositiveB of A Securities Maintains Neutral on Sherwin-Williams, Lowers Price Target to $368
➖ NeutralUBS Maintains Buy on Sherwin-Williams, Raises Price Target to $400
📈 PositiveCould your employer take away your 401(k) match? Sherwin-Williams just did it.
📉 NegativeShares of housing-related stocks are trading higher, possibly amid rate cut hopes, which could boost the housing sector.
📈 PositiveEvercore ISI Group Maintains Outperform on Sherwin-Williams, Raises Price Target to $400
📈 PositiveUnitedHealth, Sherwin-Williams, Travelers pace decline as Dow loses 200 points
📉 NegativeWhy more big companies like Sherwin-Williams are talking about immigration
➖ NeutralSherwin-Williams and Honeywell help power Dow's 170-point gain early Tuesday
📈 PositiveFrequently Asked Questions about SHW
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