Sherwin-Williams Co
NYSE: SHW · BASIC MATERIALS · SPECIALTY CHEMICALS
Updated 2026-06-12
Sherwin-Williams Co (SHW) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $815.84M | $874.54M | $876.23M | $859.19M | $706.59M | $735.81M | $887.89M | $1.08B | $1.08B | $1.45B | $1.31B | $1.88B | $1.94B | $2.32B | $3.41B | $2.24B | $1.92B | $3.52B | $3.15B | $3.45B |
| Capital expenditures | $209.94M | $165.87M | $117.20M | $91.33M | $125.16M | $153.80M | $157.11M | $166.68M | $200.54M | $234.34M | $239.03M | $222.80M | $251.00M | $328.90M | $303.80M | $372.00M | $644.50M | $888.40M | $1.07B | $797.60M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based comp | $8.19M | $35.35M | $41.11M | $23.27M | $42.28M | $48.18M | $54.35M | $58.00M | $64.73M | $72.34M | $72.11M | $90.30M | $82.60M | $101.70M | $95.90M | $97.70M | $99.70M | $115.90M | $138.10M | $123.50M |
| Free cash flow | $605.90M | $708.67M | $759.03M | $767.86M | $581.43M | $582.01M | $730.77M | $917.09M | $880.98M | $1.21B | $1.07B | $1.66B | $1.69B | $1.99B | $3.10B | $1.87B | $1.28B | $2.63B | $2.08B | $2.65B |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | $135.36M | $162.30M | $165.11M | $162.56M | $156.42M | $153.51M | $160.94M | $204.98M | $215.26M | $249.65M | $312.08M | $319.00M | $322.90M | $420.80M | $488.00M | $587.10M | $618.50M | $623.70M | $723.40M | $789.80M |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | $43.12M | $-10.74M | $-25.89M | $829.89M | $-117.70M | $-704.16M | $165.01M | $684.05M | $-685.58M | $-48.71M | $12.30M | $66.10M | $-65.80M | $29.90M | — | — | — |
Frequently asked questions
What is Sherwin-Williams Co's revenue?
Sherwin-Williams Co's trailing twelve-month revenue is $23.94B, and consensus projects about $29.65B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is SHW?
In its most recent fiscal year, SHW ran a gross margin of 48.94%, an operating margin of 16.14%, and a net margin of 10.90%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does SHW generate?
SHW produced $2.65B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is SHW's balance sheet healthy?
SHW holds $207.20M in cash and equivalents against $9.32B in long-term debt, on $4.60B of shareholder equity. That debt is best read against the cash flow the business throws off each year.