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Axalta Coating Systems Ltd.

AXTA Basic Materials Specialty Chemicals

Axalta Coating Systems Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $5.1 billion, down 3.01% from fiscal 2024.

Revenue
+1.79%
EPS
−13.0%
Free cash flow
+2.30%
Total debt
−12.0%

Quarter to September 2026, against a year earlier

36.52 0.18 +0.50%
Market cap
$7.8B
P/E
23.3×
Fwd P/E
18.8×
Dividend yield
—
F-score
7/9
Altman Z
2.40
Beneish M
−2.63
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Performance Coatings
  • Mobility Coatings

Every year since 2014 →

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.47%

Capital & Financial Ratios $m

Size
Market Cap 7,780.00
Revenue ttm 5,173.00
Net income ttm 335.00
Free cash flow ttm 497.00
Net debt Q 2,339.00
Valuation
P/E 23.28
Forward P/E 18.80
Price / sales 1.51
Forward P/S Powerpack
Price / FCF 15.68
Price / book 2.92
Financial health
Current ratio Q 1.53 (at or above 1.5: strong)
Debt / equity Q 1.12
Interest coverage Q 4.46
Growth
Revenue growth Q +1.79% (above 0%: growing)
Operating income growth Q −19.12% (below 0%: shrinking)
EPS, this year −1.27% (below 0%: weak)
EPS, next year A +8.82%
Revenue, next year A +1.60%
EPS, past 5 yrs +27.32% (at or above 15%: strong)
EPS, next 5 yrs A +5.99%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.0×, against a ten-year median of 2.1×; over the ten years it ranged from 1.6× in 2020 to 2.7× in 2017.
P/E against its own 10 years 23.76%
10-year low 10-year high
P/S against its own 10 years 56.25%
10-year low 10-year high
P/B against its own 10 years 9.42%
10-year low 10-year high
EV/Sales against its own 10 years 33.19%
10-year low 10-year high
EV/FCF against its own 10 years 16.80%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 703 596 660 656
Receivables 1,260 1,248 1,229 1,366
Inventory 741 734 756 849
Other — — — —
2,821 2,723 2,815 3,063
2023 2024 2025 Q'26
Payables 725 659 637 780
ST’ Debt 26 20 20 519
Other — — — —
1,428 1,354 1,369 2,000

Compound Annual Growth %

10y 5y 3y
Sales 2.22% 6.48% 1.57%
Cash Flow 4.70% 4.97% 30.21%
Earnings 15.23% 25.46% 25.33%
Book Value 7.69% 10.09% 16.86%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.71 Actual 0.63

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.60 0.59 Miss by 0.01
Q1 FY26 0.50 0.56 Beat by 0.06
Q2 FY26 0.65 0.72 Beat by 0.07
Q3 FY26 0.71 0.63 Miss by 0.08
Q4 FY26 0.63 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.42 0.41 0.44 — —
’25 0.45 0.50 0.51 0.28 1.74
’24 0.18 0.51 0.46 0.63 1.78
’23 0.27 0.27 0.33 0.33 1.21
’22 0.18 0.20 0.28 0.20 0.86
’21 0.06 0.54 0.30 0.23 1.14
’20 0.22 (0.35) 0.35 0.30 0.52
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,254 1,346 1,311 — —
’25 1,262 1,305 1,288 1,262 5,117
’24 1,294 1,351 1,320 1,311 5,276
’23 1,284 1,294 1,309 1,297 5,184
’22 1,174 1,235 1,239 1,236 4,884
’21 1,064 1,127 1,089 1,137 4,416
’20 984 653 1,027 1,075 3,738
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 68 152 135 — —
’25 26 142 137 344 649
’24 34 114 194 234 576
’23 (52) 131 210 286 575
’22 (44) 12 80 246 294
’21 40 108 143 269 559
’20 (1) (2) 233 278 509
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 18 104 89 — —
’25 (17) 97 87 286 453
’24 12 91 161 172 436
’23 (94) 99 179 253 437
’22 (86) (17) 44 202 143
’21 8 79 105 246 437
’20 (23) (21) 220 253 427
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 6.8% a year for ten years. It grew 3.3% a year over the last ten.

Implied
6.8%
10 years, reported
3.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 4,093 4,377 4,696 4,482 3,738 4,416 4,884 5,184 5,276 5,117 5,173 +2.5% 5,199 5,329 5,441 +2.1%
Gross margin, % 38.21 36.47 33.85 34.90 34.24 32.36 29.03 31.21 34.08 34.43 33.58 (3.8) pt
EBT 83 190 268 330 122 341 257 355 496 546 486 +23.3%
EBT margin, % 2.02 4.33 5.70 7.36 3.27 7.71 5.26 6.85 9.40 10.67 9.39 +8.7 pt
Net income 45 48 213 253 122 264 192 269 391 379 335 +26.8%
Per share, $
Per share, $ Revenue 17.19 18.21 19.65 19.16 15.89 19.12 22.03 23.46 24.06 23.69 24.17 +3.6%
Earnings 0.18 0.15 0.87 1.06 0.52 1.14 0.86 1.21 1.78 1.75 1.56 +28.8%
Cash flow 2.35 2.25 2.08 2.45 2.17 2.42 1.33 2.60 2.63 3.00 3.27 +2.8%
Capex (0.57) (0.52) (0.60) (0.48) (0.35) (0.53) (0.68) (0.62) (0.64) (0.91) (0.94) +5.3%
Free cash flow 1.78 1.73 1.48 1.97 1.82 1.89 0.65 1.98 1.99 2.10 2.32 +1.9%
Book value 5.24 5.86 5.48 6.03 6.29 6.66 6.76 8.02 8.92 11.08 12.46 +8.7%
Shares, m 238 240 239 234 235 231 222 221 219 216 214 (1.1%)
Valuation, ×
Valuation, × P/E 175.67 213.60 26.92 28.41 54.90 29.31 29.80 27.90 19.22 18.57 23.28 62.4
P/S 1.61 1.76 1.19 1.59 1.80 1.73 1.16 1.43 1.42 1.36 1.51 1.5
P/B 5.28 5.47 4.27 5.04 4.54 4.97 3.79 4.17 3.84 2.92 2.92 4.4
EV/Sales 2.27 2.48 1.87 2.21 2.47 2.41 1.79 1.97 1.96 1.86 1.96 2.1
EV/FCF 22.00 26.13 24.85 21.55 21.64 24.32 61.06 23.34 23.69 21.01 20.38 27.0
Cash, $m
Cash, $m Operating cash flow 559 540 496 573 509 559 294 575 576 649 699 +1.7%
Capex (136) (125) (143) (112) (82) (122) (151) (138) (140) (196) (202) +4.1%
Free cash flow 423 415 353 461 427 437 143 437 436 453 497 +0.8%
Balance, $m
Balance, $m Working capital 978 1,233 1,269 1,501 1,745 1,241 1,308 1,393 1,369 1,446 1,063 +4.4%
Net debt 2,726 3,143 3,168 2,814 2,529 2,978 3,049 2,801 2,825 2,539 2,339 (0.8%)
Shareholders’ equity 1,247 1,408 1,311 1,410 1,480 1,539 1,500 1,773 1,956 2,393 2,666 +7.5%
Returns, %
Returns, % ROA 0.66 0.58 3.07 3.69 1.74 3.67 2.69 3.73 5.39 5.09 4.31 +4.4 pt
ROIC 6.37 5.00 6.17 7.22 4.76 6.40 5.81 8.03 9.23 9.31 7.99 +2.9 pt
ROE 3.25 2.77 15.24 18.31 8.42 17.49 12.64 16.32 20.97 17.38 13.38 +14.1 pt
People
People Employees 13,000 13,300 14,000 14,000 14,000 13,000 12,000 12,000 12,800 12,300 — (0.6%)
Revenue/emp, $m 0.31 0.33 0.34 0.32 0.27 0.34 0.41 0.43 0.41 0.42 — +3.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Axalta Coating Systems makes and sells coatings: products applied to surfaces to provide color, appearance and protection. Its customers include vehicle repair shops, vehicle manufacturers and industrial companies. The company is headquartered in Philadelphia and led by Chief Executive Officer and President Chris Villavarayan. The current Bermuda holding company was incorporated in 2012.

The business has two segments. Performance Coatings supplies paint systems for repairing vehicles after collisions, along with liquid and powder coatings for industrial uses. Those industrial products cover applications such as building materials, electrical equipment, vehicle components and appliances. Mobility Coatings supplies coatings to manufacturers of light vehicles and commercial vehicles.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Performance Coatings 3,277 64.04%
Mobility Coatings 1,840 35.96%
Gross margin 34.43%
Operating margin 14.36%
Pre-tax margin 10.67%

Revenue by segment since 2014

Axalta Coating Systems Ltd. vs peers in Specialty Chemicals (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SSL Sasol Ltd. $9.6B 3.3× 5.5× −5.20% (below 0%: shrinking) +20.86% (above 0%: growing) +6,912.65% (above 0%: growing) 31.35% 0.00% Compare
SOLS Solstice Advanced Materials Inc. $8.8B 26.5× 20.5× +7.95% (above 0%: growing) −11.11% (below 0%: shrinking) +276.34% (above 0%: growing) 32.98% 15.68% Compare
WLK Westlake Corporation $8.5B — (loss-making) 36.7× +5.04% (above 0%: growing) n/m +485.96% (above 0%: growing) 12.81% 1.44% Compare
SQM Sociedad Quimica y Minera S.A. $8.1B 10.6× 7.4× +138.12% (above 0%: growing) +381.25% (above 0%: growing) −63.75% (below 0%: shrinking) 51.05% 48.62% Compare
AXTA Axalta Coating Systems Ltd. $7.8B 23.3× 18.8× +1.79% (above 0%: growing) −12.96% (below 0%: shrinking) +2.30% (above 0%: growing) 33.10% 12.59%
EMN Eastman Chemical Company $7.5B 12.0× 11.5× +8.31% (above 0%: growing) +266.44% (above 0%: growing) −26.42% (below 0%: shrinking) 22.31% 12.79% Compare
ESI Element Solutions Inc. $7.5B 36.4× 30.7× +51.70% (above 0%: growing) +68.75% (above 0%: growing) +53.88% (above 0%: growing) 34.40% 11.44% Compare
NEU NewMarket Corporation $6.4B 14.0× — (loss-making) +3.79% (above 0%: growing) +26.52% (above 0%: growing) −73.94% (below 0%: shrinking) 31.03% 19.95% Compare
BCPC Balchem Corporation $5.7B 33.8× 31.0× +8.63% (above 0%: growing) +17.74% (above 0%: growing) +14.42% (above 0%: growing) 36.37% 21.48% Compare
Median of peers $7.8B 14.0× 20.5× +8.13% +26.52% +34.15% 32.17% 14.24%

All 61 Specialty Chemicals stocks →

From the latest earnings call

Updated

  • CEO Chris Villavarayan said European refinish sales fell short of expectations after indirect distributors paused inventory replenishment ahead of the fourth quarter.
  • CFO Carl Anderson said Axalta lowered its fourth-quarter sales outlook to approximately flat, while accelerating investment to convert newly won multi-shop operator business.

Pay and ownership Proxy statement filed 21 April 2026

Ownership

Directors and executive officers, together 0.50%
Artisan Partners Asset Management, Inc. 11.50%
The Vanguard Group 10.80%
BlackRock, Inc. 9.40%
Barrow Hanley Mewhinney & Strauss LLC 8.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Axalta Coating Systems Ltd. (AXTA) Latest News

6 Nov

Impact 4 · · GlobeNewswire

1 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

30 Oct

Impact 3 · · MarketBeat

29 Oct

Impact 4 · · The Motley Fool transcript
Impact 4 · · Insider Monkey
Impact 4 · · Moby transcript
Impact 4 · · GlobeNewswire earnings
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press

26 Oct

Impact 3 · · Zacks

22 Oct

Impact 4 · · Zacks

20 Oct

Impact 4 · · GlobeNewswire

15 Oct

Impact 4 · · GlobeNewswire
Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

14 Oct

Impact 4 · · TipRanks
Impact 3 · · Trefis

9 Oct

Impact 3 · · Zacks

4 Oct

Impact 4 · · Investing.com

2 Oct

Impact 3 · · Zacks

26 Sep

Impact 3 · · Simply Wall St.

25 Sep

Impact 3 ·

31 Aug

Impact 4 ·

5 Aug

Impact 5 ·

2 Aug

Impact 3 ·

31 Jul

Impact 3 ·

28 Jul

Impact 3 · transcript

AXTA metrics, ten years each

stockrow.com/AXTA · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com