PPG · Ppg Industries Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $15.88B | $15.85B | $18.25B | $17.65B | $16.80B | $13.83B |
| Cost of Revenue | $9.32B | $9.25B | $10.74B | $11.10B | $10.29B | $7.78B |
| Gross Profit | $6.56B | $6.59B | $7.50B | $6.56B | $6.52B | $6.06B |
| R&D | $446.00M | $447.00M | $456.00M | $470.00M | $463.00M | $401.00M |
| SG&A | $3.44B | $3.39B | $4.22B | $3.84B | $3.78B | $3.39B |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $528.00M | $492.00M | $558.00M | $554.00M | $561.00M | $509.00M |
| Operating Income | $2.04B | $1.85B | $2.67B | $2.04B | $2.17B | $2.11B |
| Interest Expense | $241.00M | $241.00M | $247.00M | $167.00M | $121.00M | $138.00M |
| Income Tax | $458.00M | $475.00M | $439.00M | $325.00M | $374.00M | $291.00M |
| Net Income | $1.58B | $1.12B | $1.27B | $1.03B | $1.44B | $1.06B |
| EPS - Basic | $6.96 | $4.77 | $5.38 | $4.34 | $6.06 | $4.47 |
| EPS - Diluted | $6.94 | $4.75 | $5.35 | $4.32 | $6.01 | $4.45 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.16B | $1.27B | $1.51B | $1.10B | $1.00B | $1.83B |
| Accounts Receivable | $2.78B | $2.48B | $2.88B | $2.82B | $2.69B | $2.41B |
| Inventory | $2.00B | $1.85B | $2.13B | $2.27B | $2.17B | $1.74B |
| Accounts Payable | $2.21B | $2.16B | $2.61B | $2.54B | $2.73B | $2.26B |
| Current Assets | $7.96B | $6.56B | $7.43B | $7.17B | $6.77B | $6.80B |
| Total Assets | $22.10B | $19.43B | $21.65B | $20.74B | $21.35B | $19.56B |
| Current Liabilities | $4.90B | $5.01B | $5.05B | $4.72B | $4.77B | $4.83B |
| Long-term Debt | $6.60B | $4.88B | $5.75B | $6.50B | $6.57B | $5.17B |
| Total Liabilities | $14.00B | $12.47B | $13.62B | $14.04B | $14.94B | $13.74B |
| Stockholders' Equity | $7.94B | $6.79B | $7.83B | $6.59B | $6.29B | $5.69B |
| Retained Earnings | $22.94B | $21.99B | $21.50B | $20.83B | $20.37B | $19.47B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.94B | $1.42B | $2.41B | $963.00M | $1.56B | $2.13B |
| Investing Cash Flow | ($700.00M) | $107.00M | ($556.00M) | ($461.00M) | ($2.40B) | ($1.45B) |
| Financing Cash Flow | ($545.00M) | ($1.43B) | ($1.55B) | ($409.00M) | $93.00M | ($59.00M) |
| CapEx | $778.00M | $721.00M | $549.00M | $518.00M | $371.00M | $304.00M |
| Free Cash Flow | $1.16B | $699.00M | $1.86B | $445.00M | $1.19B | $1.83B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 41.3% | 41.6% | 41.1% | 37.1% | 38.8% | 43.8% |
| Operating margin | 12.9% | 11.7% | 14.7% | 11.6% | 12.9% | 15.2% |
| EBITDA margin | 16.2% | 14.8% | 17.7% | 14.7% | 16.3% | 18.9% |
| Net margin | 9.9% | 7.0% | 7.0% | 5.8% | 8.6% | 7.7% |
| Free cash flow margin | 7.3% | 4.4% | 10.2% | 2.5% | 7.1% | 13.2% |
| FCF / Net income | 0.74 | 0.63 | 1.47 | 0.43 | 0.83 | 1.72 |
| R&D / Revenue | 2.8% | 2.8% | 2.5% | 2.7% | 2.8% | 2.9% |
| SG&A / Revenue | 21.7% | 21.4% | 23.1% | 21.8% | 22.5% | 24.5% |
| Effective tax rate | 22.5% | 29.9% | 25.7% | 24.1% | 20.6% | 21.6% |
| Return on assets | 7.1% | 5.7% | 5.9% | 4.9% | 6.7% | 5.4% |
| Return on equity | 19.8% | 16.4% | 16.2% | 15.6% | 22.9% | 18.6% |
| Return on invested capital | 10.9% | 11.1% | 14.6% | 11.8% | 13.4% | 15.2% |
| Liquidity | ||||||
| Current ratio | 1.62 | 1.31 | 1.47 | 1.52 | 1.42 | 1.41 |
| Quick ratio | 1.22 | 0.94 | 1.05 | 1.04 | 0.97 | 1.05 |
| Cash ratio | 0.44 | 0.25 | 0.30 | 0.23 | 0.21 | 0.38 |
| Leverage | ||||||
| Debt / Equity | 0.83 | 0.72 | 0.73 | 0.99 | 1.05 | 0.91 |
| Debt / Assets | 0.30 | 0.25 | 0.27 | 0.31 | 0.31 | 0.26 |
| Debt / EBITDA | 2.57 | 2.08 | 1.78 | 2.51 | 2.41 | 1.98 |
| Interest coverage | 8.5x | 7.7x | 10.8x | 12.2x | 17.9x | 15.3x |
| Equity multiplier | 2.78 | 2.86 | 2.76 | 3.15 | 3.40 | 3.44 |
| Liabilities / Assets | 0.63 | 0.64 | 0.63 | 0.68 | 0.70 | 0.70 |
| Efficiency | ||||||
| Asset turnover | 0.72 | 0.82 | 0.84 | 0.85 | 0.79 | 0.71 |
| Inventory turnover | 4.67 | 5.01 | 5.05 | 4.88 | 4.74 | 4.48 |
| Days sales outstanding | 64d | 57d | 58d | 58d | 58d | 64d |
| Days inventory outstanding | 78d | 73d | 72d | 75d | 77d | 81d |
| Days payable outstanding | 87d | 85d | 89d | 83d | 97d | 106d |
| Cash conversion cycle | 56d | 45d | 41d | 50d | 38d | 39d |
| Valuation | ||||||
| P / E | 14.8x | 25.1x | 28.0x | 29.1x | 28.7x | 32.4x |
| P / B | 2.9x | 4.1x | 4.5x | 4.5x | 6.6x | 6.0x |
| P / S | 1.5x | 1.8x | 1.9x | 1.7x | 2.5x | 2.5x |
| EV / EBITDA | 10.8x | 13.5x | 12.3x | 13.6x | 17.1x | 14.4x |
| Growth | ||||||
| Revenue growth (YoY) | 0.2% | -13.2% | 3.4% | 5.1% | 21.5% | -8.7% |
| Revenue CAGR (3y) | -3.5% | -1.9% | 9.7% | 5.2% | 5.6% | -2.1% |
| Revenue CAGR (5y) | 2.8% | 0.9% | 5.0% | 3.7% | 2.6% | -2.0% |
| Gross profit growth (YoY) | -0.5% | -12.1% | 14.4% | 0.6% | 7.6% | -12.7% |
| Operating income growth (YoY) | 10.4% | -30.8% | 31.0% | -5.9% | 2.9% | -7.1% |
| Net income growth (YoY) | 41.2% | -12.1% | 23.8% | -28.7% | 35.9% | -14.8% |
| EPS growth (YoY) | 46.1% | -11.2% | 23.8% | -28.1% | 35.1% | -14.8% |
| EPS CAGR (3y) | 17.1% | -7.5% | 6.3% | -6.1% | 3.2% | -10.3% |
| EPS CAGR (5y) | 9.3% | -1.9% | -0.4% | -6.9% | 12.9% | -2.8% |
| FCF growth (YoY) | 66.4% | -62.5% | 318.4% | -62.6% | -34.8% | 9.5% |
| FCF CAGR (5y) | -8.6% | -16.0% | 12.0% | -18.1% | 5.2% | 6.1% |
| Book value growth (YoY) | 17.0% | -13.4% | 18.8% | 4.9% | 10.5% | 7.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$15.88B totalIndustrial Coatings$6.52B · 41.1%
Performance Coatings$5.51B · 34.7%
Global Architectural Coatings$3.84B · 24.2%
Geographic
$7.00B totalNorth America$3.16B · 45.2%
EMEA$2.32B · 33.1%
Latin America$1.31B · 18.8%
Asia Pacific$204.00M · 2.9%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.22
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Paints, Varnishes, Lacquers, Enamels & Allied Prods
Comparing PPG INDUSTRIES INC against the 3 most active filers in the same SIC group.
Dividends
$2.84/share trailing 12 months · +4.4% YoY
| Ex-date | Per share |
|---|---|
| May 11, 2026 | $0.7100 |
| Feb 20, 2026 | $0.7100 |
| Nov 10, 2025 | $0.7100 |
| Aug 11, 2025 | $0.7100 |
| May 12, 2025 | $0.6800 |
| Feb 21, 2025 | $0.6800 |
| Nov 12, 2024 | $0.6800 |
| Aug 12, 2024 | $0.6800 |
| May 9, 2024 | $0.6500 |
| Feb 15, 2024 | $0.6500 |
| Nov 9, 2023 | $0.6500 |
| Aug 9, 2023 | $0.6500 |
| May 9, 2023 | $0.6200 |
| Feb 16, 2023 | $0.6200 |
| Nov 9, 2022 | $0.6200 |
| Aug 9, 2022 | $0.6200 |
| May 9, 2022 | $0.5900 |
| Feb 17, 2022 | $0.5900 |
| Nov 9, 2021 | $0.5900 |
| Aug 9, 2021 | $0.5900 |
| May 7, 2021 | $0.5400 |
| Feb 18, 2021 | $0.5400 |
| Nov 9, 2020 | $0.5400 |
| Aug 7, 2020 | $0.5400 |