Sherwin-Williams (NYSE: SHW) financial statements
The consolidated income statement, balance sheet and cash flow statement of Sherwin-Williams for its last 10 fiscal years, as filed with the regulator, in millions of US dollars. At the end of fiscal 2025 it had $25,902m in total assets and $4,598m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23,574m | $23,099m | $23,052m | $22,149m | $19,945m | $18,362m | $17,901m | $17,535m | $14,984m | $11,856m |
| Cost of sales | $12,059m | $11,903m | $12,294m | $12,824m | $11,402m | $9,679m | $9,865m | $10,116m | $8,265m | $5,934m |
| Gross profit | $11,516m | $11,195m | $10,758m | $9,325m | $8,543m | $8,683m | $8,036m | $7,419m | $6,719m | $5,921m |
| Operating profit | $3,803m | $3,868m | $4,162m | $3,397m | $3,084m | $3,374m | $2,809m | $2,612m | $2,235m | $2,164m |
| Finance costs | $465.0m | $415.7m | $417.5m | $390.8m | $334.7m | $340.4m | $349.3m | $366.7m | $263.5m | $154.1m |
| Profit before tax | $3,338m | $3,452m | $3,110m | $2,573m | $2,249m | $2,519m | $1,982m | $1,360m | $1,469m | $1,595m |
| Income tax | $769.7m | $770.4m | $721.1m | $553.0m | $384.2m | $488.8m | $440.5m | $251.0m | $300.2m | $462.5m |
| Net profit | $2,569m | $2,681m | $2,389m | $2,020m | $1,864m | $2,030m | $1,541m | $1,109m | $1,728m | $1,133m |
| Earnings per share | $10.37 | $10.68 | $9.35 | $7.83 | $7.10 | $22.45 | $16.79 | $11.92 | $19.08 | $12.33 |
| Diluted earnings per share | $10.26 | $10.55 | $9.25 | $7.72 | $6.98 | $22.08 | $16.49 | $11.67 | $18.67 | $11.99 |
| Depreciation and amortisation | $676.9m | $624.0m | $622.5m | $581.1m | $572.6m | $581.4m | $574.9m | $596.3m | $491.8m | $197.5m |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $25,902m | $23,633m | $22,954m | $22,594m | $20,667m | $20,402m | $20,496m | $19,134m | $19,900m | $6,753m |
| Current assets | $6,007m | $5,401m | $5,513m | $5,908m | $5,054m | $4,591m | $4,632m | $4,345m | $4,407m | $3,627m |
| Inventories | $2,318m | $2,288m | $2,330m | $2,627m | $1,927m | $1,804m | $1,890m | $1,815m | $1,743m | $1,068m |
| Property, plant and equipment | $4,137m | $3,533m | $2,837m | $2,207m | $1,867m | $1,835m | $1,835m | $1,777m | $1,877m | $1,096m |
| Goodwill | $8,037m | $7,580m | $7,626m | $7,583m | $7,135m | $7,049m | $7,005m | $6,957m | $6,814m | $1,127m |
| Cash | $207.2m | $210.4m | $276.8m | $198.8m | $165.7m | $226.6m | $161.8m | $155.5m | $204.2m | $889.8m |
| Current liabilities | $6,920m | $6,809m | $6,627m | $5,961m | $5,720m | $4,594m | $4,522m | $4,298m | $3,987m | $2,829m |
| Equity | $4,598m | $4,051m | $3,716m | $3,102m | $2,437m | $3,611m | $4,123m | $3,731m | $3,648m | $1,878m |
| Equity including minorities | $4,598m | $4,051m | $3,716m | $3,102m | $2,437m | $3,611m | $4,123m | $3,731m | $3,648m | $1,878m |
| Minority interests | — | — | — | — | — | — | — | $0.0m | −$0.0m | $0.0m |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3,452m | $3,153m | $3,522m | $1,920m | $2,245m | $3,409m | $2,321m | $1,944m | $1,884m | $1,309m |
| Investing cash flow | −$2,066m | −$1,196m | −$1,039m | −$1,608m | −$476.4m | −$322.4m | −$462.6m | −$251.6m | −$9,047m | −$303.8m |
| Financing cash flow | −$1,379m | −$2,017m | −$2,425m | −$282.4m | −$1,834m | −$3,020m | −$1,846m | −$1,747m | $6,514m | −$307.4m |
| Capital expenditure | −$797.6m | −$1,070m | −$888.4m | −$644.5m | −$372.0m | −$303.8m | −$328.9m | −$251.0m | −$222.8m | −$239.0m |
| Dividends paid | −$789.8m | −$723.4m | −$623.7m | −$618.5m | −$587.1m | −$488.0m | −$420.8m | −$322.9m | −$319.0m | −$312.1m |
Where each figure comes from
From the annual report (Form 10-K) that Sherwin-Williams files with the SEC. The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Sherwin-Williams page.
Dividend per share of Sherwin-Williams by fiscal year, with the filing behind every figure: Sherwin-Williams dividend history.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.