SHERWIN WILLIAMS CO
$349.89
−1.50 (−0.43%) · delayed · Nov 13, 2026
Five-year price
52w $289.86 to $377.77
- Market cap
- $84.5B
- Enterprise value
- $94.0B
- P/E
- 34.1×
- 34.9× on 3y avg EPS
- EV / EBIT
- —
- FCF yield
- 3.1%
- ROIC
- —
- Debt / equity
- 2.10
- Piotroski F
- 6/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 23.0%
- ●ROE > 15% (5y avg)5y avg ROE 65.6%
- –Stable operating marginsMargin volatility n/a (σ, 5y)
- ●Earnings convert to cashFCF / net income 91% (5y avg)
- ●Growing revenueRevenue CAGR 5y 5.1%
- ●Shrinking share countDiluted shares -9.2% over 5y
Value
0
- ○P/E below 15P/E 34.1
- –EV/EBIT below 12EV/EBIT n/a
- ○FCF yield above 6%FCF yield 3.1%
- ○Price below Graham NumberGraham Number $66.29
- ○P/B below 3P/B 18.4
Safety
50
- ○Debt / equity below 0.5D/E 2.10
- ●Debt payable in < 4 yrs of earningsNet debt $9.5B
- –Interest coverage > 8xCoverage n/ax
- ○Current ratio > 1.5Current ratio 0.87
- ●Piotroski F-score ≥ 6F-score 6/9
Graham Defensive
43
- ●Adequate size (revenue > $2B)Revenue $23.6B
- ○Strong condition (current ratio ≥ 2)Current ratio 0.87
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -28%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 34.9
- ○P/E × P/B ≤ 22.5Product 641.9
Valuation lab
What do you have to believe?
At $349.89, the market is pricing in about 13.2% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $9.5B · 242M shares · 5y revenue CAGR 5.1%
Intrinsic value
$169.98
Price
$349.89
Premium paid
106%
What the price implies
The market is paying for 13.2% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
57% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11,856 | 14,984 | 17,535 | 17,901 | 18,362 | 19,945 | 22,149 | 23,052 | 23,099 | 23,574 |
| Gross profit | 5,921 | 6,719 | 7,419 | 8,036 | 8,683 | 8,543 | 9,325 | 10,758 | 11,195 | 11,516 |
| Operating income | 2,164 | 2,235 | 2,612 | 2,809 | 3,374 | 3,084 | 3,397 | 4,162 | — | — |
| Operating margin | 18.3% | 14.9% | 14.9% | 15.7% | 18.4% | 15.5% | 15.3% | 18.1% | — | — |
| Pre-tax income | 1,595 | 1,469 | 1,360 | 1,982 | 2,519 | 2,249 | 2,573 | 3,110 | 3,452 | 3,338 |
| Income tax | 463 | (300) | 251 | 441 | 489 | 384 | 553 | 721 | 770 | 770 |
| Net income | 1,133 | 1,728 | 1,109 | 1,541 | 2,030 | 1,864 | 2,020 | 2,389 | 2,681 | 2,569 |
| EPS (diluted) | 11.99 | 18.20 | 11.67 | 5.50 | 7.36 | 6.98 | 7.72 | 9.25 | 10.55 | 10.26 |
| Diluted shares | 94 | 95 | 95 | 280 | 276 | 267 | 262 | 258 | 254 | 250 |
Who owns it