PPG Industries, Inc. (PPG) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Chemicals - Specialty
EV/EBITDA
↓
11.77
↓-23% vs avg
5yr avg: 15.29
30Y Low5.5·High21.2
P/FCF
↓
22.75
↓-35% vs avg
5yr avg: 35.22
30Y Low7.2·High62.6
P/B Ratio
↓
N/A
—
5yr avg: 4.83
30Y Low2.0·High6.4
ROE
↑
92.2%
↓+182% vs avg
5yr avg: 32.7%
30Y Low-3%·High92%
Debt/EBITDA
↓
2.76
↓-5% vs avg
5yr avg: 2.90
30Y Low0.8·High3.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PPG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
PPG Industries, Inc. trades at 17.1x earnings, 32% below its 5-year average of 25.1x, sitting at the 41st percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.6x, the stock trades at a discount of 28%. On a free-cash-flow basis, the stock trades at 22.7x P/FCF, 35% below the 5-year average of 35.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $26.5B | $23.3B | $28.1B | $35.5B | $29.8B | $41.3B | $34.3B | $31.8B | $25.1B | $30.1B | $25.3B |
| Enterprise Value | $31.7B | $28.6B | $33.2B | $40.6B | $36.4B | $47.7B | $39.1B | $36.4B | $29.2B | $32.8B | $27.9B |
| P/E Ratio → | 17.08 | 14.81 | 25.15 | 27.95 | 29.11 | 28.69 | 32.41 | 25.57 | 18.72 | 18.90 | 28.89 |
| P/S Ratio | 1.67 | 1.47 | 1.77 | 2.18 | 1.91 | 2.46 | 2.48 | 2.10 | 1.63 | 2.04 | 1.78 |
| P/B Ratio | — | — | 4.03 | 4.42 | 4.45 | 6.44 | 5.90 | 5.89 | 5.30 | 5.31 | 5.16 |
| P/FCF | 22.75 | 20.01 | 40.14 | 18.72 | 62.55 | 34.66 | 18.79 | 19.07 | 23.76 | 24.93 | 27.45 |
| P/OCF | 13.63 | 11.99 | 19.76 | 14.71 | 30.98 | 26.43 | 16.11 | 15.29 | 17.10 | 19.21 | 19.12 |
P/E links to full P/E history page with 30-year chart
PPG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
PPG Industries, Inc.'s enterprise value stands at 11.8x EBITDA, 23% below its 5-year average of 15.3x. The Basic Materials sector median is 11.0x, placing the stock at a 7% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.80 | 2.09 | 2.50 | 2.33 | 2.84 | 2.83 | 2.40 | 1.90 | 2.23 | 1.96 |
| EV / EBITDA | 11.77 | 10.59 | 11.94 | 15.92 | 16.78 | 21.25 | 17.08 | 14.83 | 12.38 | 13.27 | 17.15 |
| EV / EBIT | 14.63 | 12.49 | 15.85 | 20.95 | 23.90 | 24.66 | 26.06 | 20.32 | 16.12 | 15.56 | 30.90 |
| EV / FCF | — | 24.55 | 47.47 | 21.41 | 76.26 | 40.09 | 21.41 | 21.85 | 27.65 | 27.17 | 30.27 |
PPG Profitability
Margins and return-on-capital ratios measuring operating efficiency
PPG Industries, Inc. earns an operating margin of 13.7%, above the Basic Materials sector average of 10.3%. Operating margins have expanded from 12.5% to 13.7% over the past 3 years, signaling improving operational efficiency. Return on equity of 92.2% is exceptionally high. ROIC of 23.5% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.0% | 38.0% | 41.6% | 40.4% | 36.1% | 38.8% | 43.8% | 42.9% | 41.5% | 44.3% | 46.3% |
| Operating Margin | 13.7% | 13.7% | 14.4% | 12.5% | 10.7% | 10.0% | 12.9% | 12.8% | 12.1% | 13.7% | 8.3% |
| Net Profit Margin | 9.9% | 9.9% | 7.0% | 7.8% | 6.6% | 8.6% | 7.7% | 8.2% | 8.7% | 10.8% | 6.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 92.2% | 92.2% | 14.9% | 17.2% | 15.6% | 23.5% | 18.9% | 24.5% | 25.8% | 30.1% | 17.5% |
| ROA | 11.5% | 11.5% | 5.4% | 6.0% | 4.9% | 7.0% | 5.7% | 7.4% | 8.2% | 9.9% | 5.3% |
| ROIC | 23.5% | 23.5% | 13.6% | 11.6% | 9.6% | 10.8% | 12.9% | 15.5% | 16.2% | 19.0% | 11.5% |
| ROCE | 24.8% | 24.8% | 14.7% | 12.5% | 10.2% | 10.8% | 12.7% | 15.6% | 15.3% | 16.7% | 10.0% |
PPG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
PPG Industries, Inc. carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (13% above the sector average of 2.4x). Net debt stands at $5.3B ($7.4B total debt minus $2.2B cash). Interest coverage of 9.5x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.92 | 0.82 | 1.14 | 1.16 | 1.14 | 1.08 | 1.06 | 0.73 | 0.90 |
| Debt / EBITDA | 2.76 | 2.76 | 2.30 | 2.59 | 3.52 | 3.32 | 2.89 | 2.38 | 2.13 | 1.68 | 2.71 |
| Net Debt / Equity | — | — | 0.74 | 0.64 | 0.97 | 1.01 | 0.82 | 0.86 | 0.87 | 0.48 | 0.53 |
| Net Debt / EBITDA | 1.96 | 1.96 | 1.84 | 2.00 | 3.01 | 2.88 | 2.09 | 1.88 | 1.74 | 1.10 | 1.59 |
| Debt / FCF | — | 4.54 | 7.33 | 2.69 | 13.70 | 5.42 | 2.62 | 2.78 | 3.90 | 2.24 | 2.81 |
| Interest Coverage | 9.49 | 9.49 | 8.68 | 7.84 | 9.11 | 16.00 | 10.87 | 13.58 | 15.35 | 20.10 | 7.23 |
PPG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.62x means PPG Industries, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.22x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.47x to 1.62x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.62 | 1.62 | 1.31 | 1.47 | 1.52 | 1.42 | 1.41 | 1.41 | 1.36 | 1.66 | 1.55 |
| Quick Ratio | 1.22 | 1.22 | 0.94 | 1.09 | 1.04 | 0.97 | 1.05 | 1.02 | 0.96 | 1.22 | 1.19 |
| Cash Ratio | 0.45 | 0.45 | 0.27 | 0.31 | 0.24 | 0.22 | 0.40 | 0.29 | 0.22 | 0.38 | 0.44 |
| Asset Turnover | — | 1.99 | 0.82 | 0.75 | 0.75 | 0.79 | 0.71 | 0.86 | 0.96 | 0.89 | 0.90 |
| Inventory Turnover | 4.93 | 4.93 | 5.01 | 5.00 | 4.39 | 4.74 | 4.48 | 5.06 | 5.05 | 4.75 | 5.06 |
| Days Sales Outstanding | — | 76.70 | 68.76 | 67.58 | 77.21 | 68.47 | 71.92 | 66.42 | 67.54 | 71.85 | 67.88 |
PPG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
PPG Industries, Inc. returns 5.3% to shareholders annually — split between a 2.3% dividend yield and 3.0% buyback yield. The payout ratio of 39.8% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 2.7% | 2.2% | 1.7% | 1.9% | 1.3% | 1.4% | 1.5% | 1.8% | 1.4% | 1.6% |
| Payout Ratio | 39.8% | 39.8% | 55.7% | 47.1% | 55.6% | 37.2% | 46.8% | 37.7% | 33.8% | 27.2% | 47.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 6.8% | 4.0% | 3.6% | 3.4% | 3.5% | 3.1% | 3.9% | 5.3% | 5.3% | 3.5% |
| FCF Yield | 4.4% | 5.0% | 2.5% | 5.3% | 1.6% | 2.9% | 5.3% | 5.2% | 4.2% | 4.0% | 3.6% |
| Buyback Yield | 3.0% | 3.4% | 2.7% | 0.2% | 0.6% | 0.5% | 0.0% | 1.0% | 6.9% | 2.7% | 4.1% |
| Total Shareholder Yield | 5.3% | 6.1% | 4.9% | 1.9% | 2.5% | 1.8% | 1.4% | 2.5% | 8.7% | 4.1% | 5.8% |
| Shares Outstanding | — | $227M | $235M | $237M | $237M | $239M | $238M | $238M | $245M | $258M | $267M |
Peer Comparison
Compare PPG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PPGYou | $26B | 17.1 | 11.8 | 22.7 | 38.0% | 13.7% | 92.2% | 23.5% | 2.8 |
 SHW | $79B | 31.2 | 21.3 | 29.8 | 48.9% | 16.1% | 59.4% | 16.5% | 3.3 |
 RPM | $14B | 20.2 | 15.0 | 25.7 | 41.4% | 12.3% | 25.5% | 13.3% | 2.7 |
 AXTA | $7B | 20.0 | 9.6 | 16.4 | 32.6% | 14.9% | 17.4% | 11.4% | 3.2 |
 DOW | $23B | -8.6 | 12.5 | — | 6.0% | 0.7% | -14.8% | 0.6% | 6.3 |
 LYB | $19B | -25.6 | 30.0 | 50.4 | 9.0% | -1.1% | -6.5% | -1.1% | 15.0 |
 EMN | $8B | 17.7 | 8.9 | 19.6 | 21.1% | 10.6% | 8.0% | 6.7% | 3.5 |
 HUN | $2B | -7.6 | 17.8 | 18.1 | 13.2% | -0.7% | -9.0% | -0.6% | 11.0 |
 CE | $6B | -4.8 | 11.5 | 7.1 | 18.8% | 8.0% | -23.1% | 3.4% | 8.6 |
 KRO | $787M | -7.1 | 58.0 | — | 11.5% | -2.3% | -14.1% | -2.5% | 25.2 |
 TROX | $1B | -2.5 | 16.2 | — | 9.3% | -0.7% | -29.0% | -0.3% | 12.8 |
| Basic Materials Median | — | 23.6 | 11.0 | 29.0 | 30.9% | 10.3% | -0.0% | 4.6% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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PPG — Frequently Asked Questions
Quick answers to the most common questions about buying PPG stock.
What is PPG Industries, Inc.'s P/E ratio?
PPG Industries, Inc.'s current P/E ratio is 17.1x. The historical average is 19.6x. This places it at the 41th percentile of its historical range.
What is PPG Industries, Inc.'s EV/EBITDA?
PPG Industries, Inc.'s current EV/EBITDA is 11.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.1x.
What is PPG Industries, Inc.'s ROE?
PPG Industries, Inc.'s return on equity (ROE) is 92.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 27.0%.
Is PPG stock overvalued?
Based on historical data, PPG Industries, Inc. is trading at a P/E of 17.1x. This is at the 41th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is PPG Industries, Inc.'s dividend yield?
PPG Industries, Inc.'s current dividend yield is 2.34% with a payout ratio of 39.8%.
What are PPG Industries, Inc.'s profit margins?
PPG Industries, Inc. has 38.0% gross margin and 13.7% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does PPG Industries, Inc. have?
PPG Industries, Inc.'s Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.