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PPG Industries, Inc.

PPG Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $15.9 billion, roughly unchanged from fiscal 2024.

Revenue: +6.64%
EPS: +1.00%
Free cash flow: −23.6%
Total debt: −6.47%

Quarter to September 2026, against a year earlier

123.65 3.62 −2.84%

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Market cap: $27.2B
P/E: 17.6×
Fwd P/E: 16.2×
Dividend yield: 2.32%
F-score: 6/9
Altman Z: 3.65
Beneish M: −2.47
Dividend safety: 79/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

PPG Industries, Inc. (PPG) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Industrial Coatings	6,524	41.10%
Performance Coatings	5,513	34.73%
Global Architectural Coatings	3,838	24.18%
Gross margin		41.32%
Operating margin		13.63%
Pre-tax margin		12.88%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Industrial Coatings	6,524 41.10%	6,687 42.20%	7,089 43.65%	6,970 44.64%	6,469 38.50%	5,339 38.59%	6,112 40.35%	6,287 40.89%	6,018 40.81%	5,690 39.87%	5,476 38.45%	5,552 37.54%	5,265 36.91%	4,755 37.48%	4,158 31.61%	3,708 27.62%	3,068 25.07%
Performance Coatings	5,513 34.73%	5,237 33.05%	5,132 31.60%	4,792 30.69%	10,333 61.50%	8,495 61.41%	9,034 59.65%	9,087 59.11%	8,730 59.19%	8,580 60.13%	8,765 61.55%	8,698 58.81%	7,934 55.62%	6,899 54.38%	4,626 35.17%	4,281 31.89%	4,095 33.46%
Global Architectural Coatings	3,838 24.18%	3,921 24.75%	4,021 24.76%	3,852 24.67%	—	—	—	—	—	—	—	—	—	—	—	—	—
Consolidation, Eliminations	—	—	—	—	—	—	—	—	—	—	(1) (0.01%)	(1) (0.01%)	(1) (0.01%)	(1) (0.01%)	—	—	—
Glass	—	—	—	—	—	—	—	—	—	—	—	541 3.66%	1,067 7.48%	1,032 8.13%	1,061 8.07%	985 7.34%	849 6.94%
Architectural Coatings E M E A	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2,104 16.00%	1,874 13.96%	1,952 15.95%
Optical And Specialty Materials	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1,204 9.15%	1,141 8.50%	1,002 8.19%
Commodity Chemicals	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1,434 10.68%	1,273 10.40%
Revenue	15,875	15,845	16,242	15,614	16,802	13,834	15,146	15,374	14,748	14,270	14,241	14,791	14,265	12,686	13,153	13,423	12,239

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Performance Coatings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Industrial Coatings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Glass	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Optical And Specialty Materials	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Architectural Coatings E M E A	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Commodity Chemicals	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
United States and Canada	5,372 33.84%	5,352 33.78%	5,485 33.77%	5,346 34.24%	6,676 39.73%	5,668 40.97%	6,475 42.75%	6,485 42.18%	6,307 42.77%	6,254 43.83%
EMEA	5,368 33.81%	5,386 33.99%	5,617 34.58%	5,458 34.96%	5,436 32.35%	4,328 31.29%	4,549 30.03%	4,678 30.43%	4,389 29.76%	4,164 29.18%
Asia Pacific	2,937 18.50%	2,912 18.38%	2,873 17.69%	2,824 18.09%	2,977 17.72%	2,431 17.57%	2,542 16.78%	2,618 17.03%	2,523 17.11%	2,431 17.04%
Latin America	2,198 13.85%	2,195 13.85%	2,267 13.96%	1,986 12.72%	1,713 10.20%	1,407 10.17%	1,580 10.43%	1,593 10.36%	1,529 10.37%	1,421 9.96%
Revenue	15,875	15,845	16,242	15,614	16,802	13,834	15,146	15,374	14,748	14,270

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Operating Working Capital	Q3 FY2026	$3.3B	$3.2B	+3.78%
Order backlog	Q3 FY2026	$300.0M	$310.0M	−3.23%
Sales volumes	Q3 FY2026	−2.00%	−2.00%	—
Sales volumes	Q3 FY2026	2.00%	4.00%	—
Sales volumes	Q3 FY2026	5.00%	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Operating Working Capital	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Order backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sales volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Sales volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.