0000089800-26-000008
SEC filingThe Sherwin-Williams Company reported strong financial performance for fiscal year 2025, with net sales of $23.57 billion and net income of $2.57 billion. The company generated $11.52 billion in gross profit, representing a gross margin of 48.9%, and achieved operating income of $3.34 billion before taxes. Cash flow from operations was robust at $3.45 billion, though the company had significant investing activities including $1.21 billion in business acquisitions and $797.6 million in capital expenditures. The balance sheet shows total assets of $25.90 billion with shareholders' equity of $4.60 billion, while maintaining substantial debt levels including $9.32 billion in long-term debt and $1.20 billion in short-term borrowings. The company returned capital to shareholders through $789.8 million in dividend payments and $1.66 billion in treasury stock purchases.
The Sherwin-Williams Company delivered solid financial results for fiscal year 2025, reporting net sales of $23.57 billion and net income of $2.57 billion. The company achieved income before taxes of $3.34 billion, with income tax expense of $769.7 million. Earnings per share were $10.00 on both basic and diluted bases, with weighted average shares outstanding of 247.6 million basic and 250.4 million diluted. The company maintained strong profitability metrics throughout the year, supported by effective cost management and operational execution.
Revenue performance was driven by the company's core operations, though specific segment breakdowns or geographic mix details were not provided in the available data. The $23.57 billion in net sales represents the company's total revenue from all business activities. Cost of goods sold was $12.06 billion, resulting in gross profit of $11.52 billion. The company's revenue generation appears consistent with its market position in the coatings industry, though detailed segment performance or growth drivers beyond the aggregate figures were not disclosed in the provided information.
The company maintained healthy profitability margins, with gross margin of 48.9% calculated from $11.52 billion gross profit on $23.57 billion sales. Selling, general and administrative expenses totaled $7.70 billion, representing 32.7% of net sales. Other expenses included $465.0 million in interest expense, partially offset by $11.2 million in interest income. The company recorded impairment charges of $17.8 million and other general expenses of $10.2 million. The effective tax rate was approximately 23.0% based on $769.7 million income taxes on $3.34 billion pre-tax income.
Cash flow from operations was strong at $3.45 billion, driven by net income of $2.57 billion and adjusted for non-cash items including $340.3 million depreciation, $508.6 million non-cash lease expense, and $336.6 million amortization of intangible assets. Investing activities used $2.07 billion, primarily for $1.21 billion in business acquisitions and $797.6 million in capital expenditures. Free cash flow (operating cash flow minus capital expenditures) was $2.65 billion. The balance sheet shows total assets of $25.90 billion, including $6.01 billion in current assets and $4.14 billion in property, plant and equipment. Total liabilities were $21.30 billion, with shareholders' equity of $4.60 billion. The company maintains $207.2 million in cash and cash equivalents.
Management guidance, strategic priorities, and specific risk factors were not provided in the available data. The filing indicates the company continues to invest in growth through acquisitions ($1.21 billion) and capital expenditures ($797.6 million), while returning capital to shareholders through dividends ($789.8 million) and share repurchases ($1.66 billion). The company's debt position includes $9.32 billion in long-term debt and $1.20 billion in short-term borrowings, which will require ongoing management. No forward-looking statements or specific guidance for future periods were included in the provided financial data.