Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Sherwin-Williams

SHW stock analysis · Materials · Specialty Chemicals

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$344.32HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$83.6B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Derived operating income

Derived consolidated operating income from the reviewed income statement, rather than a separately tagged subtotal. Retains other general operating income and asset impairments. Removes only separately presented interest expense, investment/interest income and other nonoperating expense. Applies only to the two recorded fiscal periods; source history can contain later restatements. Read the financial statement ↗

Valuation

DCF value

$166.05

Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -51.8% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

23.5%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-12.4%

18 sector peers · median 28.5×

How this is calculated ↗
Valuation

Historical multiples

35.8×

7 annual observations · snapshot P/E 32.5× · -9.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

3.2%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

20.8%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation)

How this is calculated ↗
Valuation

Value composite

32/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

9.6%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

2.8%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

-3.6%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

0.9%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 3.5B2020-12-31: cfo $3,408,600,000.002020-12-31: capex $303,800,000.0020202021-12-31: cfo $2,244,600,000.002021-12-31: capex $372,000,000.0020212022-12-31: cfo $1,919,900,000.002022-12-31: capex $644,500,000.0020222023-12-31: cfo $3,521,900,000.002023-12-31: capex $888,400,000.0020232024-12-31: cfo $3,153,200,000.002024-12-31: capex $1,070,000,000.0020242025-12-31: cfo $3,451,600,000.002025-12-31: capex $797,600,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$208.28$227.25$247.65
10.0%$152.62$166.05$180.47
12.0%$120.41$130.65$141.64

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3123.6B2.6B3.5B797.6M25.9B
2024-12-3123.1B2.7B3.2B1.1B23.6B
2023-12-3123.1B2.4B3.5B888.4M23B
2022-12-3122.1B2B1.9B644.5M22.6B
2021-12-3119.9B1.9B2.2B372M20.7B
2020-12-3118.4B2B3.4B303.8M20.4B
2019-12-3117.9B1.5B2.3B328.9M20.5B
2018-12-3117.5B1.1B1.9B251M19.1B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue23.6BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-19
netIncome2.6BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-19
Parent/common earnings proxy2.6BNetIncomeLoss2026-02-19
cfo3.5BNetCashProvidedByUsedInOperatingActivities2026-02-19
capex797.6MPaymentsToAcquireProductiveAssets2026-02-19
operatingIncome3.8BReviewed manual correction
Derived consolidated operating income from the reviewed income statement, rather than a separately tagged subtotal. Retains other general operating income and asset impairments. Removes only separately presented interest expense, investment/interest income and other nonoperating expense. Applies only to the two recorded fiscal periods; source history can contain later restatements.
2026-02-19
assets25.9BAssets2026-02-19
equity4.6BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-19
Parent book equity proxy4.6BStockholdersEquity2026-02-19
debt9.7BLongTermDebt2026-02-19
shortDebt1.2BShortTermBorrowings2026-02-19
cash207.2MCashAndCashEquivalentsAtCarryingValue2026-02-19
shares250.4MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-19
dividends789.8MPaymentsOfDividends2026-02-19
buybacks1.7BPaymentsForRepurchaseOfEquity2026-02-19
issuance140.6MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from stock options exercised: 140600000 USD [us-gaap:ProceedsFromStockOptionsExercised]. All 9 financing lines reconcile exactly to reported financing cash flow -1378600000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: the statement also aggregates other financing cash flows (net -86800000 USD). Their common-equity portion is not separately disclosed here. Issuance is the sum of separately reported common cash-issuance lines, not an independently verified gross total; additional equity flows may be inside those aggregates.
2026-02-19