The Sherwin-Williams Company (SHW) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Chemicals - Specialty
EV/EBITDA
↓
21.43
↓-10% vs avg
5yr avg: 23.82
30Y Low5.8·High32.6
P/FCF
↓
30.07
↓-25% vs avg
5yr avg: 40.28
30Y Low9.0·High50.2
P/B Ratio
↓
17.51
↓-27% vs avg
5yr avg: 23.83
30Y Low2.1·High38.6
ROE
↓
59.4%
-11% vs avg
5yr avg: 66.6%
30Y Low1%·High113%
Debt/EBITDA
↓
3.31
+4% vs avg
5yr avg: 3.17
30Y Low0.6·High4.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SHW Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
The Sherwin-Williams Company trades at 31.5x earnings, 12% below its 5-year average of 35.7x, sitting at the 72nd percentile of its historical range. Compared to the Basic Materials sector median P/E of 22.9x, the stock trades at a premium of 38%. On a free-cash-flow basis, the stock trades at 30.1x P/FCF, 25% below the 5-year average of 40.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $79.8B | $80.6B | $86.4B | $80.6B | $62.1B | $94.1B | $67.1B | $54.5B | $37.4B | $38.9B | $25.4B |
| Enterprise Value | $94.1B | $94.9B | $98.1B | $92.1B | $74.4B | $105.4B | $77.0B | $64.8B | $46.6B | $49.2B | $26.5B |
| P/E Ratio → | 31.51 | 31.55 | 32.22 | 33.72 | 30.74 | 50.45 | 33.33 | 35.37 | 33.71 | 21.97 | 22.39 |
| P/S Ratio | 3.39 | 3.42 | 3.74 | 3.49 | 2.81 | 4.72 | 3.65 | 3.05 | 2.13 | 2.60 | 2.14 |
| P/B Ratio | 17.51 | 17.53 | 21.32 | 21.68 | 20.03 | 38.59 | 18.58 | 13.22 | 10.02 | 10.67 | 13.52 |
| P/FCF | 30.07 | 30.38 | 41.46 | 30.59 | 48.72 | 50.23 | 21.60 | 27.37 | 22.08 | 23.43 | 23.74 |
| P/OCF | 23.13 | 23.36 | 27.39 | 22.88 | 32.36 | 41.91 | 19.68 | 23.49 | 19.23 | 20.66 | 19.40 |
P/E links to full P/E history page with 30-year chart
SHW EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
The Sherwin-Williams Company's enterprise value stands at 21.4x EBITDA, 10% below its 5-year average of 23.8x. The Basic Materials sector median is 11.4x, placing the stock at a 88% 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 | — | 4.03 | 4.25 | 4.00 | 3.36 | 5.28 | 4.19 | 3.62 | 2.66 | 3.29 | 2.23 |
| EV / EBITDA | 21.43 | 21.61 | 22.36 | 21.78 | 20.78 | 32.56 | 22.40 | 21.60 | 18.72 | 22.48 | 13.85 |
| EV / EBIT | 24.74 | 24.94 | 25.36 | 26.11 | 25.12 | 40.80 | 26.89 | 27.80 | 26.97 | 28.42 | 15.12 |
| EV / FCF | — | 35.77 | 47.08 | 34.97 | 58.37 | 56.28 | 24.79 | 32.52 | 27.51 | 29.64 | 24.74 |
SHW Profitability
Margins and return-on-capital ratios measuring operating efficiency
The Sherwin-Williams Company earns an operating margin of 16.1%, above the Basic Materials sector average of 9.8%. Return on equity of 59.4% is exceptionally high. ROIC of 16.5% represents solid 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 | 48.9% | 48.9% | 48.5% | 46.7% | 42.1% | 42.8% | 47.3% | 44.9% | 42.3% | 44.8% | 49.9% |
| Operating Margin | 16.1% | 16.1% | 16.3% | 15.6% | 13.5% | 13.4% | 15.5% | 13.5% | 10.8% | 11.3% | 14.4% |
| Net Profit Margin | 10.9% | 10.9% | 11.6% | 10.4% | 9.1% | 9.3% | 11.1% | 8.6% | 6.3% | 11.8% | 9.6% |
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 | 59.4% | 59.4% | 69.0% | 70.1% | 72.9% | 61.7% | 52.5% | 39.2% | 30.1% | 64.1% | 82.5% |
| ROA | 10.4% | 10.4% | 11.5% | 10.5% | 9.3% | 9.1% | 9.9% | 7.8% | 5.7% | 13.3% | 18.1% |
| ROIC | 16.5% | 16.5% | 18.2% | 17.6% | 15.4% | 14.7% | 15.4% | 13.3% | 10.5% | 15.1% | 46.3% |
| ROCE | 21.3% | 21.3% | 22.7% | 21.9% | 19.0% | 17.3% | 18.0% | 15.7% | 12.3% | 17.1% | 45.3% |
SHW Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The Sherwin-Williams Company carries a Debt/EBITDA ratio of 3.3x, which is moderately leveraged (26% above the sector average of 2.6x). Net debt stands at $14.3B ($14.5B total debt minus $207M cash). Interest coverage of 8.1x 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 | 3.16 | 3.16 | 2.94 | 3.18 | 4.03 | 4.72 | 2.80 | 2.53 | 2.50 | 2.88 | 1.04 |
| Debt / EBITDA | 3.31 | 3.31 | 2.72 | 2.79 | 3.49 | 3.55 | 2.94 | 3.48 | 3.76 | 4.80 | 1.02 |
| Net Debt / Equity | — | 3.12 | 2.89 | 3.10 | 3.97 | 4.65 | 2.74 | 2.49 | 2.46 | 2.83 | 0.57 |
| Net Debt / EBITDA | 3.26 | 3.26 | 2.67 | 2.73 | 3.44 | 3.50 | 2.88 | 3.42 | 3.69 | 4.71 | 0.56 |
| Debt / FCF | — | 5.40 | 5.62 | 4.38 | 9.65 | 6.05 | 3.18 | 5.15 | 5.43 | 6.21 | 0.99 |
| Interest Coverage | 8.12 | 8.12 | 8.96 | 8.16 | 7.35 | 7.49 | 8.16 | 6.48 | 4.59 | 6.34 | 19.46 |
SHW Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.87x is below 1.0, meaning current liabilities exceed current assets. The quick ratio of 0.53x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.87 | 0.87 | 0.79 | 0.83 | 0.99 | 0.88 | 1.00 | 1.02 | 1.01 | 1.11 | 1.28 |
| Quick Ratio | 0.53 | 0.53 | 0.46 | 0.48 | 0.55 | 0.55 | 0.61 | 0.61 | 0.59 | 0.67 | 0.90 |
| Cash Ratio | 0.03 | 0.03 | 0.03 | 0.04 | 0.03 | 0.03 | 0.05 | 0.04 | 0.04 | 0.05 | 0.31 |
| Asset Turnover | — | 0.91 | 0.98 | 1.00 | 0.98 | 0.97 | 0.90 | 0.87 | 0.92 | 0.75 | 1.76 |
| Inventory Turnover | 5.19 | 5.19 | 5.20 | 5.28 | 4.88 | 5.92 | 5.37 | 5.22 | 5.57 | 4.74 | 5.55 |
| Days Sales Outstanding | — | 43.22 | 37.75 | 39.08 | 42.25 | 43.05 | 41.31 | 42.59 | 42.02 | 51.27 | 37.90 |
SHW Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
The Sherwin-Williams Company returns 1.0% to shareholders annually primarily through dividends. The payout ratio of 30.7% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.2% (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 | 1.0% | 1.0% | 0.8% | 0.8% | 1.0% | 0.6% | 0.7% | 0.8% | 0.9% | 0.8% | 1.2% |
| Payout Ratio | 30.7% | 30.7% | 27.0% | 26.1% | 30.6% | 31.5% | 24.0% | 27.3% | 29.1% | 18.0% | 27.6% |
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 | 3.2% | 3.2% | 3.1% | 3.0% | 3.3% | 2.0% | 3.0% | 2.8% | 3.0% | 4.6% | 4.5% |
| FCF Yield | 3.3% | 3.3% | 2.4% | 3.3% | 2.1% | 2.0% | 4.6% | 3.7% | 4.5% | 4.3% | 4.2% |
| Buyback Yield | 0.0% | 0.0% | 2.0% | 1.8% | 1.4% | 2.9% | 3.6% | 1.4% | 1.6% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.0% | 1.0% | 2.9% | 2.6% | 2.4% | 3.6% | 4.4% | 2.2% | 2.5% | 0.8% | 1.2% |
| Shares Outstanding | — | $249M | $254M | $258M | $262M | $267M | $274M | $280M | $285M | $285M | $283M |
Peer Comparison
Compare SHW 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 |
|---|---|---|---|---|---|---|---|---|---|
 SHWYou | $80B | 31.5 | 21.4 | 30.1 | 48.9% | 16.1% | 59.4% | 16.5% | 3.3 |
 PPG | $25B | 16.1 | 11.2 | 21.5 | 38.0% | 13.7% | 92.2% | 23.5% | 2.8 |
 RPM | $13B | 19.1 | 14.3 | 24.4 | 41.4% | 12.3% | 25.5% | 13.3% | 2.7 |
 AXTA | $6B | 16.4 | 8.3 | 13.4 | 32.6% | 14.9% | 17.4% | 11.4% | 3.2 |
 HUN | $3B | -9.5 | 19.9 | 22.7 | 13.2% | -0.7% | -9.0% | -0.6% | 11.0 |
 EMN | $9B | 18.5 | 9.1 | 20.4 | 21.1% | 10.6% | 8.0% | 6.7% | 3.5 |
 FUL | $3B | 22.2 | 9.0 | 27.2 | 31.7% | 11.5% | 7.9% | 7.8% | 3.5 |
 TROX | $2B | -3.4 | 17.8 | — | 9.3% | -0.7% | -29.0% | -0.3% | 12.8 |
 IOSP | $2B | 16.6 | 8.4 | 21.9 | 27.7% | 8.8% | 8.9% | 10.7% | 0.4 |
 HD | $321B | 22.7 | 14.0 | 25.4 | 33.3% | 12.7% | 145.5% | 32.1% | 0.8 |
 LOW | $131B | 19.7 | 11.3 | 17.1 | 33.5% | 11.8% | — | 76.2% | 0.6 |
| Basic Materials Median | — | 22.9 | 11.4 | 27.5 | 31.7% | 9.8% | 1.0% | 4.4% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full SHW Stock Analysis
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Start ComparisonSHW — Frequently Asked Questions
Quick answers to the most common questions about buying SHW stock.
What is The Sherwin-Williams Company's P/E ratio?
The Sherwin-Williams Company's current P/E ratio is 31.5x. The historical average is 23.9x. This places it at the 72th percentile of its historical range.
What is The Sherwin-Williams Company's EV/EBITDA?
The Sherwin-Williams Company's current EV/EBITDA is 21.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.8x.
What is The Sherwin-Williams Company's ROE?
The Sherwin-Williams Company's return on equity (ROE) is 59.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 40.4%.
Is SHW stock overvalued?
Based on historical data, The Sherwin-Williams Company is trading at a P/E of 31.5x. This is at the 72th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is The Sherwin-Williams Company's dividend yield?
The Sherwin-Williams Company's current dividend yield is 0.98% with a payout ratio of 30.7%.
What are The Sherwin-Williams Company's profit margins?
The Sherwin-Williams Company has 48.9% gross margin and 16.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does The Sherwin-Williams Company have?
The Sherwin-Williams Company's Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.