0000079879-26-000046
SEC filingPPG Industries, Inc. reported strong financial results for fiscal year 2025, with net sales of $15.88 billion and net income attributable to PPG of $1.58 billion. The company generated $1.94 billion in cash from operating activities, demonstrating robust cash generation capabilities. Key profitability metrics include gross profit of $6.56 billion (calculated from net sales of $15.88B minus cost of sales of $9.32B) and operating income of $2.04 billion (income before income taxes). The company maintained a solid balance sheet with total assets of $22.10 billion, total liabilities of $14.00 billion, and shareholders' equity of $8.10 billion. PPG returned significant capital to shareholders through $628 million in dividends paid and $790 million in treasury stock purchases. The company's liquidity position remained strong with $2.16 billion in cash and cash equivalents at year-end.
PPG Industries, Inc. delivered solid financial performance in fiscal year 2025 with net sales of $15.88 billion. The company achieved income before income taxes of $2.04 billion and net income attributable to PPG of $1.58 billion. Earnings per share for continuing operations were $7.00 per share. The company's operating activities generated $1.94 billion in cash, while investing activities used $700 million primarily for capital expenditures of $778 million. Financing activities used $545 million, with significant outflows for treasury stock purchases ($790 million) and dividend payments ($628 million). The net increase in cash and cash equivalents was $893 million, ending the year with $2.16 billion in cash and equivalents.
No segment breakdown or geographic mix data was provided in the available financial data. The company reported net sales of $15.88 billion for the fiscal year. Cost of sales, exclusive of depreciation and amortization, was $9.32 billion. The company's revenue performance reflects its position in the coatings and specialty materials markets, though specific segment contributions and growth drivers are not detailed in the provided data.
PPG achieved a gross margin of 41.3% based on net sales of $15.88 billion and cost of sales of $9.32 billion. Operating margin was 12.8% calculated from income before income taxes of $2.04 billion. The company's cost structure included selling, general and administrative expenses of $3.44 billion, research and development expenses of $423 million, depreciation of $403 million, and amortization of $125 million. Interest expense was $241 million, partially offset by interest income of $153 million. Business restructuring costs were $6 million, and impairment and other-related charges totaled $24 million.
PPG generated $1.94 billion in cash from operating activities, with adjustments including depreciation and amortization of $528 million. Free cash flow, calculated as operating cash flow ($1.94B) minus capital expenditures ($778M), was $1.16 billion. The balance sheet shows total assets of $22.10 billion, including current assets of $7.96 billion (with $2.16B cash, $3.34B receivables, $2.00B inventories). Total liabilities were $14.00 billion, including long-term debt of $6.60 billion and current liabilities of $4.90 billion. Shareholders' equity totaled $8.10 billion, resulting in a debt-to-equity ratio of approximately 0.81. The company maintained strong liquidity with a current ratio of 1.62.
No specific management guidance, strategic priorities, or risk factors were provided in the available financial data. The filing contains standard financial statements without forward-looking statements or outlook commentary in the provided sections. Investors should refer to the complete 10-K filing for comprehensive risk factor disclosures and management discussion and analysis of financial condition and results of operations.