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Friday 6 November 2026 Export SHW’s income statement to Excel — free account

The Sherwin-Williams Company

SHW Basic Materials Specialty Chemicals

The Sherwin-Williams Company’s revenue for fiscal 2025 (year ended December 2025) was $23.6 billion, up 2.06% from fiscal 2024.

Revenue
+7.89%
EPS
+0.89%
Free cash flow
−12.2%
Total debt
+2.43%

Quarter to September 2026, against a year earlier

349.94 13.56 −3.73%
Market cap
$84.3B
P/E
31.8×
Fwd P/E
29.9×
Dividend yield
0.91%
F-score
6/9
Altman Z
3.67
Beneish M
−2.50
Dividend safety
89/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

The Sherwin-Williams Company (SHW) Debt to equity

Alert me on Debt to equity

The Sherwin-Williams Company's debt to equity at the end of the quarter to 30 September 2026 was 3.0×, up 0.6× from fiscal 2025 (2.4×). Over the past ten years it has ranged from 1.0× (fiscal 2016) to 3.9× (fiscal 2021); the current reading is higher than 45% of that period. That is above the Specialty Chemicals industry median of 0.6× and above the Basic Materials sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 2.4× (3.14%)
FY2024 2.4× (7.93%)
FY2023 2.7× (22.19%)
FY2022 3.4× (13.63%)
FY2021 3.9× 71.79%
FY2020 2.3× 9.02%
FY2019 2.1× (15.90%)
FY2018 2.5× (13.16%)
FY2017 2.9× 177.47%
FY2016 1.0× (53.74%)

Quarterly newest first

Period Debt to equity Change
Sep 2026 3.0× (5.29%)
Jun 2026 3.1× 18.61%
Mar 2026 2.6× 11.68%
Dec 2025 2.4× (9.15%)
43 more quarters

Against its own ten years

Low 1.0× High 3.9×
Ten-year median 2.4×
Current reading's percentile 45

Debt to equity against peers

Company Debt to equity
DD DuPont de Nemours, Inc. compare 0.2×
IFF International Flavors & Fragrances Inc. compare 0.5×
LIN Linde PLC compare 0.7×
RPM RPM International Inc. compare 0.7×
PPG PPG Industries, Inc. compare 0.8×
APD Air Products and Chemicals, Inc. compare 1.1×
LYB LyondellBasell Industries N.V. compare 1.1×
ECL Ecolab Inc. compare 1.3×
SHW The Sherwin-Williams Company 3.0×
Specialty Chemicals industry median 0.6×
Basic Materials sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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