Materials · Specialty Chemicals · US stock · price as of 16 Oct 2026
Key indicators
Price
$335.20
52-week range
$289.19 – $375.09
Market cap
$82.5B
P/E (trailing)
31.0×
EV / EBITDA
23.5×
Free-cash-flow yield
3.9%
Dividend yield
1.0%
Revenue (last 12 months)
$24.4B
Revenue growth (3y a year)
2.1%
Operating margin
16.4%
Return on invested capital
19.7%
Net debt / EBITDA
2.9×
Fair value
Blended fair value$281.28 range $264 – $303
Versus priceFair−16% to fair value
Peer multiples
$256.98
Fundamentals-adjusted multiple
$316.13
10-year DCF (market-scaled)
$270.71
Earnings power value (floor, not blended)
$102.66
Model uncertainty
Medium
X-Ray Score
57/ 100 · High confidence · ahead of 70% of sector peers
Valuation46
Growth60
Profitability82
Financial health31
Dividends65
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Sherwin-Williams makes and sells paints, coatings and related products for homeowners, professional painters and industrial customers. It sells mostly through its own network of paint stores, as well as through retailers and other channels. The company earns money from product sales, with raw material costs, such as resins and pigments, influencing margins. Housing activity, remodeling and industrial production are important to demand.
Looking at the top line, revenue was $24.4 billion for the latest twelve months and it grew by 2.1% a year over three years. Operating margin was 16.4%, and return on invested capital is 20%. Its net debt to EBITDA ratio is 2.9 times. Shareholders receive a dividend with a yield of 1.0%.
StocksXray gives Sherwin Williams Co an X-Ray Score of 57 out of 100 (high confidence), ahead of 70% of the S&P 500 stocks in its sector. Its strongest lens is profitability (82) and its weakest is financial health (31).
Our fair value blend is $281.28 (range $263.98 to $302.73). At $335.20 the stock trades 19% above that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Sherwin Williams Co (SHW)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$337.10
$229.35
$304.41
$334.54
$321.74
$335.20
Market cap
$90.0B
$60.0B
$78.6B
$85.0B
$80.6B
$82.5B
P/E
48.3×
29.7×
32.9×
31.7×
31.4×
31.0×
EV / revenue
5.0×
3.2×
3.8×
4.1×
3.9×
3.9×
EV / EBITDA
32.3×
20.7×
21.2×
24.5×
24.0×
23.5×
Price / free cash flow
48.1×
47.1×
29.9×
40.8×
30.4×
25.7×
Free-cash-flow yield
2.1%
2.1%
3.3%
2.5%
3.3%
3.9%
Price / book
36.9×
19.4×
21.2×
21.0×
17.5×
21.4×
Dividend yield
0.65%
1.05%
0.79%
0.85%
0.98%
0.95%
Fundamentals checklist ● 5 Good · ● 8 Average · ● 3 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.4%Average
Free-cash-flow yield3.9%Average
Risk models
Altman Z score0.8×Bad
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)9.9%Average
Free-cash-flow growth (3y)27.7%Good
Revenue growth (3y)2.1%Average
Growth consistency80%Good
Balance sheet
Current ratio0.7×Bad
Net debt / EBITDA2.9×Bad
Interest cover7.8×Average
Valuation
Fair value vs price0.8×Average
EBIT / EV yield4.3%Average
Profitability
Return on invested capital19.7%Good
Operating margin16.4%Good
Gross profitability44.4%Good
XStocksXray
Sherwin Williams Co (SHW)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
19,945
22,149
23,052
23,099
23,574
24,410
Gross profit
8,543
9,325
10,758
11,195
11,516
11,957
Operating income
3,084
3,397
4,162
3,868
3,803
4,008
Net income
1,864
2,020
2,389
2,681
2,569
2,688
Diluted EPS ($)
6.98
7.72
9.25
10.55
10.26
10.82
Free cash flow
1,873
1,275
2,634
2,083
2,654
3,213
Gross margin
42.8%
42.1%
46.7%
48.5%
48.8%
49.0%
Operating margin
15.5%
15.3%
18.1%
16.7%
16.1%
16.4%
Net margin
9.3%
9.1%
10.4%
11.6%
10.9%
11.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
20,667
22,594
22,954
23,633
25,902
26,951
Cash
166
199
277
210
207
294
Total debt
9,615
10,570
9,851
9,888
10,871
12,072
Equity
2,437
3,102
3,716
4,051
4,598
3,855
Dividend per share ($)
2.20
2.40
2.42
2.86
3.16
3.18
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.