The Sherwin-Williams Company (SHW) Financial Statements
Sherwin-Williams financial statements at a glance
Sherwin-Williams reported revenue of $23.57 billion for fiscal year 2025 (ended December 31, 2025), up 2.1% from fiscal year 2024. Net income was $2.57 billion, a net margin of 10.9%, and diluted earnings per share were $10.26.
At the end of fiscal year 2025 it had total assets of $25.90 billion, total liabilities of $21.30 billion and shareholders' equity of $4.60 billion, with cash and short-term investments of $207.20 million and total debt of $12.94 billion.
Its operations brought in $3.45 billion of cash; capital spending was $797.60 million, leaving free cash flow of $2.65 billion.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
The Sherwin-Williams Company
Income Statement
Annual • USD
Sherwin-Williams key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $23.6B | $23.1B | $23.1B | $22.1B | $19.9B |
| Gross profit | $11.5B | $11.2B | $10.8B | $9.3B | $8.5B |
| Operating income | $3.8B | $3.4B | $3.2B | $2.6B | $2.7B |
| Net income | $2.6B | $2.7B | $2.4B | $2.0B | $1.9B |
| Diluted EPS | $10.26 | – | – | – | $6.98 |
| Total assets | $25.9B | $23.6B | $23.0B | $22.6B | $20.7B |
| Total liabilities | $21.3B | $19.6B | $19.2B | $19.5B | $18.2B |
| Shareholders' equity | $4.6B | $4.1B | $3.7B | $3.1B | $2.4B |
| Cash and short-term investments | $207.2M | – | – | – | $165.7M |
| Total debt | $12.9B | $10.1B | $9.9B | $10.6B | $11.5B |
| Operating cash flow | $3.5B | $3.2B | $3.5B | $1.9B | $2.2B |
| Capital spending | $797.6M | – | – | – | $372.0M |
| Free cash flow | $2.7B | – | – | – | $1.9B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Sherwin-Williams's revenue in fiscal year 2025?
$23.57 billion, up 2.1% from $23.10 billion in fiscal year 2024.
How much profit does Sherwin-Williams make?
Sherwin-Williams reported net income of $2.57 billion for fiscal year 2025 (10.9% of revenue); operating income was $3.80 billion.
How much cash and debt does Sherwin-Williams have?
At the end of fiscal year 2025: cash and short-term investments of $207.20 million and total debt of $12.94 billion.
What is Sherwin-Williams's free cash flow?
$2.65 billion in fiscal year 2025 (operating cash flow of $3.45 billion minus capital spending of $797.60 million).
